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>UL Solutions Inc. has entered a new strategic phase after announcing a definitive agreement to acquire Eurofins Scientific’s Electrical & Electronics business, including the MET Labs certification mark, for an enterprise value of roughly €575 million, or about $670 million.</li><li>The proposed transaction comes after UL Solutions reported a record 2025, with revenue nearing $3.1 billion, organic growth above 6%, adjusted EBITDA margin of 25.9%, and free cash flow of $403 million.</li><li>Management has also been repositioning the company toward higher-value testing, inspection, and certification activities through portfolio actions, including the sale of its employee health and safety software business and a greater focus on its core TIC and risk-compliance offerings.</li></ul>

UL Solutions Inc. has entered a new strategic phase after announcing a definitive agreement to acquire Eurofins Scientific’s Electrical & Electronics business, including the MET Labs certification mark, for an enterprise value of roughly €575 million, or about $670 million.The proposed transaction comes after UL Solutions reported a record 2025, with revenue nearing $3.1 billion, organic growth above 6%, adjusted EBITDA margin of 25.9%, and free cash flow of $403 million.Management has also been repositioning the company toward higher-value testing, inspection, and certification activities through portfolio actions, including the sale of its employee health and safety software business and a greater focus on its core TIC and risk-compliance offerings.

UL Solutions’ $670M Acquisition Could Be Its Biggest Growth Catalyst Yet!