Private equity firm Nordic Capital plans to support RegTech’s next phase of innovation and sustainable growth after acquiring the regulatory reporting business from BearingPoint.
The acquisition, for an undisclosed sum, will see BearingPoint, a technology consultancy, retain a minority stake in RegTech while continuing to serve as a strategic consulting partner.
Founded more than 25 years ago and with a foothold today in Germany, Austria and Switzerland, RegTech’s flagship reporting products are used by more than 6,000 firms, including banks, insurance companies, supervisory authorities and financial services providers.
The Germany-headquartered company has 17 offices across 10 countries with a total workforce of approximately 630 employees. RegTech is expected to generate revenues of close to €100 million in 2020.
Nordic Capital, which has previously invested in Bambora, Board International, Conscia, Itiviti, Macrobond, Trustly and Signicat, and recently acquired a stake in Siteimprove, will invest in product development at RegTech, as well as enhance its organisational capacity and expand its international footprint.
The current RegTech management team will remain in place. Fredrik Näslund, partner and head of technology and payments at Nordic Capital, said: “Our broad experience in supporting the growth and development of software and technology companies makes Nordic Capital an ideal partner to play a formative role in the next phase for RegTech together with the company’s management team.”
Jürgen Lux, chief executive officer of RegTech, said: “We are delighted to welcome Nordic Capital to RegTech. The new ownership will support our further development and will also benefit our customers.
“With Nordic Capital we have a strong new partner at our side with extensive experience in developing and growing leading businesses in the software industry.”