BlackFin-backed NeoXam wholly acquires Nexfi

The purchase took place one year after NeoXam was formed via the merger of GP3 and Decalog, two software solutions divisions BlackFin had picked up from US-based parent SunGard Financial Systems in January 2014.

The buyout saw the Paris-based GP invest from its BlackFin Financial Services Fund I to become a majority shareholder in the new company, according to unquote" data. Aurelius Partners' Serge Delpla came in as buy-in manager and CEO of NeoXam as part of the deal, among other management changes.

Under BlackFin's ownership, NeoXam has sought to consolidate its position across Europe via a targeted acquisition strategy. In October 2014, it picked up French asset management software developer Density Technologies.

In particular, the acquisition of Nexfi is expected to help the business strengthen its presence in the institutional investors segment, as well as bolster its research and development efforts.

BlackFin, which is targeting further acquisitions with complementary functional and geographic coverage, was attracted by Nexfi's already established client base among institutional investors.

Company
NeoXam is a Paris-headquartered software developer. The business offers fund accounting, valuation and compliance software to 120 asset managers and securities platforms worldwide. With a workforce of 250, the business most recently posted around $50m in turnover.

Nexfi, also based in Paris, was founded in 2002 and currently develops investment management software. In particular, its TrackerPM product addresses front-, middle- and back-office functions such as order management, reporting, risk and control.

People
BlackFin Capital Partners was represented by founding partners Laurent Bouyoux, Eric May, Bruno Rostain and Paul Mizrahi. Serge Delpla is CEO at NeoXam.

Advisers
Equity – Gide, Pierre Karpik (Legal); Grant Thornton, Emmanuel Riou (Corporate finance).

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