According to a media release, SNL Financial—the Charlottesville-based economic news and analysis company founded by Reid Nagle more than two decades ago—has a new owner. New Mountain Capital LLC, a New York-based private equity firm that manages a reported $9 billion in assets, purchased a majority stake in SNL.
In the release, Nagle says that he remains the second largest shareholder. SNL Financial clients "should expect continuity in the company’s leadership team, product roadmap, and customer service and support, while benefiting from the greater capital resources available to the company."
In 2006, the London Telegraph reported that SNL was slated for a potential $200 million sale. C-VILLE alum John Borgmeyer spoke with Charlottesville Director of Economic Development Aubrey Watts about the report at the time, but Watts said that if there was a sale in the works, then he would know about it. SNL has occupied the former home of the National Ground Intelligence Center since 2003, when it negotiated a 30-year lease with the city for a $240,000 annual payment. The sale price was not disclosed by either company, and Nagle was not immediately available for comment.
