Guru buys ETX from JRJ

JRJ first began exploring a sale in 2017, giving the mandate to RBC, according to Unquote sister publication Mergermarket. At the time, the deal was said to be worth £30-50m ($39-65m), according to Betaville.

Switzerland-based Guru invests in companies in foreign exchange, CFD brokerage, asset management, and financial technology in the EMEA and Asia-Pacific region.

During the holding period, JRJ invested in bolt-on acquisitions and ETX's technology, according to a statement.

The transaction is subject to regulatory approval and is expected to close by the end of the year.

Company
Founded in 1965 as a mortgage bond specialist, the company launched its retail derivatives arm and was later rebranded as ETX. It offers trading platforms and services in foreign exchange, indices, shares, commodities and cryptocurrencies. The company is based in London and reported revenue of £32m in 2018, with an operating profit of £2.5m.

People
Guru Capital – Ryan Nettles (managing partner).
JRJ Group – Roger Nagioff (founding partner).
ETX Capital – John Wilson (CEO).

Advisers
Vendor – RBC (corporate finance). 

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