Houlihan Lokey Advises Ikon Science

Houlihan Lokey is pleased to announce the sale of Ikon Science Ltd. to Great Hill Partners for an undisclosed amount. The transaction was announced and closed on October 16, 2018.

Ikon is a leading provider of subsurface geoprediction software to the largest upstream oil and gas producers in the world, helping its customers reduce operational risk, improve cost efficiency, and make better investment decisions. It has a deep history of product innovation, and its flagship products, RokDoc and JiFi, are seen as best in class in the industry.

Great Hill Partners is a leading Boston-based private equity firm focused on investments in high-growth technology companies. Since inception, it has raised over $5 billion in commitments to finance the acquisition, recapitalization, or expansion of growth companies in the software, communications, financial technology, healthcare, information services, internet, media, retail, and consumer industries.

The new investment sees FPE Capital LLP and Tullow Oil PLC successfully exit Ikon following a period of strong growth.

Mark Bashforth, CEO of Ikon, said, "We are delighted to have secured investment from GHP and are very excited about this new chapter in Ikon Science's growth story. We greatly enjoyed working with the Houlihan Lokey team and thank them for their support and commitment throughout the process to deliver a successful outcome for all stakeholders."

Martyn Millwood Hargrave, Executive Chairman and Founder of Ikon, said, "Houlihan Lokey demonstrated a clear understanding of the heritage of our business and our long-term goals, and we are excited to partner with Great Hill Partners as we embark on our next phase of growth."

Houlihan Lokey served as the exclusive financial advisor to shareholders of Ikon and assisted in marketing, structuring, and negotiating the transaction on their behalf. This most recent transaction adds to the extensive track record of Houlihan Lokey's software practice and to recent successes in the segment, including the sales of ipan to Castik Capital, Robidus to Aegon, Asset Control to Sovereign Capital, Dynamo to Francisco Partners, and Palantir Solutions to 3esi-Enersight (a portfolio company of Rubicon Technology Partners). The sale of Dynamo to Francisco Partners was announced as Quayle Munro prior to its acquisition by Houlihan Lokey to establish the Data & Analytics Group.