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James Cowper Kreston provide transaction support

12 March 2021

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James Cowper Kreston's Corporate Finance team recently provided transaction support for ACOLIN and Sovereign Capital in their acquisition of Fundbase.

UK private equity Buy & Build specialist Sovereign Capital Partners recently announced that portfolio company ACOLIN, a leading provider of regulatory and cross-border fund distribution services, has acquired Fundbase, a digital fund distribution and data management business, from Swiss FinTech business Nectar Digital Wealth.  This is the first acquisition for ACOLIN since Sovereign backed the MBO of the business in June 2020.

Fundbase provides asset managers with access to professional investors through a digital marketing and communication portal. For investors, it delivers a sophisticated data and document management offering to track selected funds. The acquisition gives ACOLIN a first-class platform technology to better serve its clients which can also be further developed through the addition of ACOLIN’s own investor network and service offering to over 600 asset management clients. The business now operates throughout Europe from nine locations including Zurich, Geneva, London, Frankfurt and Belgrade, employing c.95 members of staff.

A wide selection of professional services firms worked on the deal, with James Cowper Kreston Corporate Finance providing the financial due diligence for ACOLIN and Sovereign Capital Partners.

Brad McAvoy, who led the team at James Cowper Kreston Corporate Finance, commented “We were excited to be involved in this cross-border transaction which will allow ACOLIN to further develop its client base and service offering.  We wish the Sovereign and ACOLIN teams the best of success in their continuing growth strategy.”

Nate Janks, Investment Manager at Sovereign Capital said: “Brad and the JCK team performed very high quality financial due diligence in a tight timeframe.  This included dealing with a number of complexities given the transaction was a carve-out of several entities across a number of international jurisdictions. We look forward to working with JCK again on future transactions.”