Sovereign's Acolin bolts on Fundbase

The acquisition is intended to enhance Acolin's offering for its customers, according to a statement. The company will employ 95 staff following the acquisition, compared with 85 at the time of Sovereign's investment.

Sovereign acquired a majority stake in Acolin in June 2020. At the time, the GP was deploying equity via Sovereign Capital Fund IV which held a final close on £395m in August 2014.

No additional capital was provided by Sovereign to finance the add-on.

The acquisition of Fundbase is Acolin's first during the investment period, according to a statement. Sovereign intends to support Acolin's development through both organic and acquisitive growth. The company is planning to make further add-ons in key European financial centres, focusing on the areas of regulation, distribution and analytics.

Company
Fundbase is a digital fund distribution and data management platform for professional investors. The company has a digital marketing and communication platform and allows users to track selected funds. The company is headquartered in Altendorf and was founded in 2013.

People
Acolin – Daniel Haefele (founder, executive vice-chairman, CEO).
Fundbase – Neil Stiefel (CEO).
Sovereign Capital – Alex Hay (partner); Nate Janks (investment manager); James England (investment director).

Advisers
Acquirer – James Cowper Kreston, Brad McAvoy (financial due diligence); Schellenberg Wittmer, Tarek Houdrouge (legal); Pinsent Masons, Tom Leman (legal); Wolf Theiss, Bruno Stefanik (legal).

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