Category: Private markets
Former Formula 1 co-owner enters sustainability space Former Formula 1 co-owner enters sustainability space Former Formula 1 co-owner enters sustainability space
Jan 9th, 2020
Private equity heavyweight CVC – the former co-owner of Formula 1 - has bought a $200m stake in sustainability ratings firm EcoVadis, in the latest in a string of investments into ESG data and analysis companies.
The investment is the debut deal by CVC’s second ‘Growth Partners’ fund, and the deal is set to close this quarter. No further terms were provided, but French-based EcoVadis will use the money “to scale globally and engrain sustainability, fair labour practices and ethics into enterprise supply chains and business commerce,” according to a joint statement from the firms.
Launched in 2007, EcoVadis is not a well-known name in the ESG data landscape but it claims 450 institutions use its supplier ratings and engagement platform. It assesses 60,000 companies in 155 markets – 10,000 of which it says it added last year – and has offices in Paris, London, Poland, Tunisia, Tokyo, Toronto, Mauritius, Hong Kong, New York, San Francisco a…