Bowmark buys workflow automation provider WSD

The comany's founder, Mathias Strasser, is reinvesting in the business. 

The new owner will aim to accelerate the company's product development and growth in North America, Europe and Asia, according to a press release. WSD has achieved revenue growth of over 15% per annum since 2019.

The GP is investing in the primary deal through Bowmark Capital Partners VI, which held a final close in January 2019 on GBP 600m and invests in mid-market companies with enterprise values of up to GBP 200m. The fund invests in companies operating in the technology-enabled B2B sector that are aiming to grow nationwide and internationally. It will deploy equity tickets in the range of GBP 50m-GBP 70m, according to Unquote Data.

Bowmark has invested in specialist software providers previously, including Pirum Systems, a provider of financial software, in 2019, according to Unquote Data.

Following the transaction, Peter Little will join the company's board as a non-executive chairman. According to the GP, Little has a track record in scaling and growing European vendors in the financial services industry. He is a former chairman of fundinfo AG and was CEO and chairman of Cadis Software.

Company
WSD was founded in 2009 by CEO Mathias Strasser. It has offices in London and New York. The company provides software automation that simplifies the complexity of managing legal and regulatory documents. It serves the global structured products industry including investment banks. The company has 100 staff. 

People
WSD – Mathias Strasser (CEO).
Bowmark Capital – Tom Shelford (partner).

Advisers
Vendor – Goldenhill, Chris Brooke (M&A).
Equity – DC Advisory, Sebastian Daumueller (corporate finance).

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• Topics
• Buyouts
• Technology
• UK / Ireland
• Mid-market buyout
• Bowmark Capital LLP
• United Kingdom