Welsh, Carson, Anderson & Stowe (WCAS) has signed a deal with Golden Gate Capital (GGC) to acquire Green Street Advisors (GSA), the CRE research, data and analytics company.
Management will re-invest a portion of the proceeds to retain an ongoing interest in the company. Financial terms of the transaction were not disclosed.
WCAS’s acquisition aligns with the firm’s history of investing in market-leading technology and information services companies.
Craig Leupold, Green Street’s Chief Executive Officer, said, “We have the deepest respect for WCAS, which has distinguished itself as one of the world’s leading investors in technology and information services companies for the past four decades.
“With their partnership, we intend to accelerate investments in product innovation, data, sales and customer success to better serve our current customers, further penetrate existing end markets and expand into adjacent end markets.
“This is an exciting time for Green Street as we transition into our next growth phase. At the same time, we want to express our appreciation to GGC. We are proud of the accomplishments throughout our partnership and grateful for their stewardship and support.”
Christopher J. Hooper, General Partner at WCAS, said, “The WCAS team is thrilled to partner with GSA’s management team, which has successfully built a market-leading provider of data-driven research providing actionable insights to the most sophisticated investors and market participants in the commercial real estate industry.
“We believe Green Street is uniquely positioned to leverage its strong foundation to build the clear leader in research, data and analytics for the commercial real estate market.”