BearingPoint Announces the Sale of Its Regulatory Technology Unit to Nordic Capital – RegTech Unit to Operate Independently in the Market
Management and technology consultancy BearingPoint will sell its independent Regulatory Technology (RegTech) business unit, a leading provider of software solutions for regulatory reporting to Nordic Capital, a leading private equity investor with a long history of developing technology companies and enabling and driving global growth. The transaction is a result of a strategic process to enable accelerated growth for the unit as a software company with specialized professional and managed services along the regulatory value chain.
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With Nordic Capital as the new owner, the RegTech business will boost its leading market position and push ahead with its international expansion against the backdrop of regulatory harmonization. BearingPoint will continue to serve as a strategic consulting partner and will retain a minority stake in RegTech.
The current RegTech management team will remain and will work in close partnership with Nordic Capital. RegTech’s customers will not be impacted by the transaction. The closing of the transaction with Nordic Capital is subject to customary regulatory approvals. The financial terms of the transaction were not disclosed. The entire transaction has been managed by the M&A practice in BearingPoint’s Capital unit.
Kiumars Hamidian, Managing Partner with BearingPoint, said: "With the sale of our RegTech unit we accomplish the establishment of RegTech as a fully independent firm – a strategic initiative we had started two years ago. I said that 2020 is all about the execution of our Strategy 2025, and despite difficult market conditions because of Corona we stick to our long-term plans. Our current business performance is the best proof point that our strategy is paying off. With the transaction we are delivering on the ambitions lined out in our strategy: we intensify the focus on our market-leading consulting portfolio.
“The RegTech business unit will benefit from the increasing regulatory requirements around the world. As an independent firm, supported by a strong owner as Nordic Capital, it will have the necessary agility and flexibility to make the best possible use of these opportunities”, says Patrick Palmgren, Global Head of the BearingPoint Capital unit under which RegTech was managed so far. “I am personally looking forward to going on that journey together with Nordic Capital and RegTech”, Patrick Palmgren concludes.
Jürgen Lux, the CEO of RegTech, said: "We're 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. We have used the past two years to enhance the autonomy of the RegTech business within the BearingPoint Group. Together with Nordic Capital, we have formed an ambitious growth agenda and will continue to invest in our proven, reliable and forward-looking software solution suite.”
Fredrik Näslund, Partner and Head of Technology & Payments, Nordic Capital Advisors added: “RegTech's unique portfolio of software and solutions is highly acclaimed in the industry and has already earned the trust of more than 6,000 reporting firms including banks, insurance companies, supervisory authorities and financial services providers. We are very impressed by the Company’s market position, its platform and its potential for further expansion. Our broad experience 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.”
RegTech is a leading international provider of innovative solutions in regulatory and risk technology, tax technology and services for regulatory reporting along the regulatory value chain. Through close contact with supervisory authorities and as a member of key standardization committees, RegTech is actively involved in preparing and developing regulatory standards. With more than 25 years’ experience in the business, RegTech is firmly established as a market leader in Europe.
BearingPoint is an independent management and technology consultancy with European roots and a global reach. The company operates in three business units: The first unit covers the advisory business with a clear focus on five key areas to drive growth across all regions. The second unit provides IP-driven managed services beyond SaaS and offers business critical services to its clients supporting their business success. The third unit provides the software for successful digital transformation and regulatory requirements. It is also designed to explore innovative business models with clients and partners by driving the financing and development of start-ups and leveraging ecosystems.
BearingPoint's clients include many of the world's leading companies and organizations. The firm has a global consulting network with more than 10,000 people and supports clients in over 70 countries, engaging with them to achieve measurable and sustainable success.
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