AshGrove Capital invests in Kantar Xtel

• Kantar Xtel was created in 2022 via the merger of Xtel and StepUp
• Silvertree invested in Kantar Xtel in 2022, whereas Bain invested in Kantar Group in 2019
• AshGrove is an independently owned London-based lending fund

AshGrove Capital will invest in Kantar Xtel, a global revenue management services provider for consumer goods companies.

No financial details of the transaction were disclosed.

Kantar Xtel is backed by Silvertree Equity and Bain Capital.

Kantar Xtel, based in Bologna, Italy, was created in 2022 via the merger of Xtel and StepUp.

Silvertree invested in Kantar Xtel in 2022. Bain invested in Kantar Group in 2019.

“This is an exciting addition to our portfolio and perfectly adheres to our credit philosophy, due to its highly predictable revenue profile and compelling unit economics,” said Jon Ferguson, partner and co-founder at AshGrove Capital.

AshGrove is an independently owned London-based lending fund with a sector-led approach focusing on software and services.

Silvertree is a software and technology focused private equity firm. The firm is based in London.

Bain Capital is a US private investment firm based in Boston.