Astord and Bridgepoint to acquire Fenergo
Private equity firms Astord and Bridgepoint have agreed a deal to acquire Irish-headquartered regtech provider Fenergo.
The firm claims 26 of the top 50 FS firms worldwide as clients, including big names such as ICBC Standard Bank, Santander, Mizuho, ABN Amro and BNP Paribas
Fenergo currently employs over 850 people and has offices in North America, the UK, Poland, Spain, South Africa, Asia Pacific, and the UAE. It posted revenues of $107 million in full-year revenues in March, a 17% uplift on the prior year.
ABN Amro joined an $80 million funding round in Fenergo in February last year, which at the time valued the firm at about $800 million.
Financial terms of the transaction with Astord and Bridgepoint were not disclosed.