Advent International and KKR-backed NIQ Global has filed for an initial public offering on the New York Stock Exchange, becoming the latest private equity-backed company to test the public markets amid a rebound in investor sentiment.

Advent acquired the consumer insights business from Nielsen Holdings in a $2.7bn carve-out more than four years ago. KKR later joined as a co-investor. The IPO comes as sponsor-led listings gain renewed traction, joining the likes of Circle and Jefferson Capital in a strengthening pipeline.

NIQ, which offers data analytics to more than 23,000 clients worldwide, provides essential consumer purchasing intelligence to companies including Coca-Cola, Nestlé, and Sony. Led by CEO Jim Peck, the former head of TransUnion, NIQ positions itself as a critical partner for brands and retailers navigating increasingly complex consumer trends.

For Q1 2024, the company reported revenues of $965.9m, alongside a sharply reduced net loss of $73.7m, down from $173.9m in the same quarter last year. Proceeds from the IPO are earmarked for debt repayment and general corporate purposes.

NIQ intends to list under the ticker symbol “NIQ”, with JP Morgan, BofA Securities, and UBS leading the underwriting. The firm operates in a competitive space alongside players such as Circana and YouGov, highlighting the growing appetite for differentiated analytics platforms in the consumer sector.

Source: Reuters

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