Bowmark acquires Pirum Systems from Five Arrows

Five Arrows first backed the company in a buyout in February 2015, investing alongside Camwell Management.

Bowmark said that Pirum had experienced 12 years of revenue growth. It generated turnover of £10.4m in the year to 31 March 2018 as well as an operating profit of £5.2m. Bowmark added that significant opportunities were open to Pirum in terms of product innovation and regulatory changes.

Under Five Arrows ownership, Pirum extended its product into collateral and exposure management, as well as compliance reporting.

Bowmark is currently investing its sixth flagship fund, which closed on £600m last year. It plans to make 10-15 deals with a typical equity cheque in the region of £50m.

Company
Founded in 2000, Pirum offers a portfolio of post-trade services enabling customers in the wholesale securities finance markets to electronically connect to both their counter-parties and other market infrastructure providers. The firm is based in London.

People
Bowmark Capital – Julian Masters (managing partner).
Five Arrows – Javed Khan (co-managing partner).

Advisers
Vendor – Houlihan Lokey (corporate finance).

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• Topics
• Buyouts
• Exits
• UK / Ireland
• Financials
• Bowmark Capital LLP
• United Kingdom
• Secondary buyout