Nordic Capital carves out RegTech from BearingPoint

BearingPoint will continue to serve as a strategic consulting partner and retain a minority stake in the company.

The GP told Unquote that it followed the company for a long time and entered into exclusive negotiations with BearingPoint a few months ago.

The deal is Nordic Capital's second platform investment this year in "technology and payments", one of its three focus sectors, following the acquisition of a 70% stake in digital marketing software provider Siteimprove for around €500m in September.  

The GP is currently investing from its latest vehicle, Nordic Capital X, which held a final close on €6.1bn last month.  

The GP will support RegTech by investing in the company's product development, improving its organisational capacity and expanding its international footprint. It is expected to pursue a combination of organic and acquisitive growth. 

Company
Founded more than 25 years ago and based in Frankfurt am Main, RegTech provides regulatory technology reporting software to 6,000 reporting firms, including banks, insurance companies, supervisory  authorities and financial services providers. The company has 17  offices across 10 countries with a total workforce of approximately 630 employees. The company is expected to  generate revenues of close to €100m in 2020.  

People
Nordic Capital – Fredrik Näslund (partner).  
RegTech – Jürgen Lux (CEO).
BearingPoint – Kiumars Hamidian (managing partner).

Advisers 
Equity – White & Case (legal); KPMG (financial due diligence); Capgemini (IT due diligence); McKinsey (commercial due diligence); Arma Partners (M&A). 

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• Carve-out