Private equity firm Vestar Capital Partners is buying Institutional Shareholder Services Inc. (ISS) for $364 million.
ISS provides corporate governance services to the financial community, including proxy research and analysis, proxy voting and distribution services, securities class-action claims management and governance data and modeling services.
Vestar, headquartered in New York, is a private equity firm that targets investments with enterprise value from $250 million to $1 billion. The firm focuses on the financial services, information services, consumer, health care, digital media industries. The firm's other investments include American Roland Foods, which it bought in August, DynaVox Systems Inc. and Gleason Corp.
MSCI Inc. (NYSE: MSCI), which provides tools to investors, included indices, portfolio risks and performance analytics, is selling the company.
Shareholder activism is increasing in the middle market, for more see "The Buyside: Activist Investors Dig Into Mid Market."