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>Baker Hughes has taken a decisive step in reshaping its portfolio by agreeing to sell its Waygate Technologies unit to Hexagon for approximately $1.45 billion in cash, marking one of the more strategic carve-outs in the industrial technology space this year.</li><li>The Germany-based Waygate business, which specializes in advanced testing and inspection solutions, generated roughly $630 million in revenue at a 10% EBIT margin in 2025, positioning it as a mid-margin, niche industrial asset within Baker Hughes’ broader portfolio.</li><li>The divestiture aligns with Baker Hughes’ ongoing strategy to streamline operations and redeploy capital toward higher-growth verticals such as power systems, LNG infrastructure, and energy transition technologies, as highlighted in its latest earnings call.</li></ul>

Baker Hughes has taken a decisive step in reshaping its portfolio by agreeing to sell its Waygate Technologies unit to Hexagon for approximately $1.45 billion in cash, marking one of the more strategic carve-outs in the industrial technology space this year.The Germany-based Waygate business, which specializes in advanced testing and inspection solutions, generated roughly $630 million in revenue at a 10% EBIT margin in 2025, positioning it as a mid-margin, niche industrial asset within Baker Hughes’ broader portfolio.The divestiture aligns with Baker Hughes’ ongoing strategy to streamline operations and redeploy capital toward higher-growth verticals such as power systems, LNG infrastructure, and energy transition technologies, as highlighted in its latest earnings call.

Hexagon’s Strategic Acquisition Of Baker Hughes’ Waygate Could Change The Game!