Independent research on the U.S. markets, Baptista Research

Baptista Research

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. 

We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Equifax has moved deeper into Latin America with a definitive agreement to acquire 100% of Círculo de Crédito, Mexico’s fastest-growing credit bureau, for an enterprise value of $750 million.</li><li>The transaction, announced on July 7, 2026, would mark Equifax’s 17th bolt-on acquisition since 2020 and lift its total M&A deployment over that period to nearly $5 billion.</li><li>Círculo de Crédito generated an estimated $134 million in revenue, up 31%, and $62 million in adjusted EBITDA for the twelve months ended June 30, 2026, with mid-40s adjusted EBITDA margins.</li></ul>

Equifax has moved deeper into Latin America with a definitive agreement to acquire 100% of Círculo de Crédito, Mexico’s fastest-growing credit bureau, for an enterprise value of $750 million.The transaction, announced on July 7, 2026, would mark Equifax’s 17th bolt-on acquisition since 2020 and lift its total M&A deployment over that period to nearly $5 billion.Círculo de Crédito generated an estimated $134 million in revenue, up 31%, and $62 million in adjusted EBITDA for the twelve months ended June 30, 2026, with mid-40s adjusted EBITDA margins.

Equifax Takeover Of Círculo Could Reshape Its Data Moat!

Equifax Inc

Equifax Takeover Of Círculo Could Reshape Its Data Moat!