FCG Holding Sverige AB (‘FCG’ or the ‘Company’), a high growth, market-leading provider of specialist risk and compliance services to the financial sector, will partner with Bridgepoint Development Capital (‘BDC’) where BDC will acquire a significant shareholding in FCG and provide the resources to allow it to realise its expansion plans. The value of the transaction is not disclosed.
Established in Stockholm in 2008, FCG is the leading Nordic specialist service provider of Governance, Risk and Compliance (GRC) services, primarily focused on the financial sector. The Company offers expertise in the form of consultancy services, outsourcing and fund administration from operations in Stockholm, Malmö, Copenhagen and Oslo.
“We are pleased to welcome Bridgepoint Development Capital as a new owner and partner to FCG. They will add additional business competence, experience from scaling medium-sized businesses, a pan-European network and financial strength, which will allow FCG to continue its growth strategy in the Nordic region and beyond” says Kristian Bentzer, Managing Partner of FCG.
Johan Dahlfors, the partner responsible for Bridgepoint Development Capital’s investment activities in the Nordic region commented “We are very impressed with the progress that FCG has achieved to-date. FCG has built a leading position in the Nordic region, based on high-quality services, passionate and competent employees and a broad service portfolio catering to the needs of the entire financial industry in an increasingly complex regulatory landscape. FCG has ambitious plans and we look forward to partnering with current owners and the Company to develop the business further.”
Given the depth and breadth of competencies required to ensure internal control and compliance with financial regulations, many financial institutions are increasingly seeking external support from specialist service providers. This has resulted in the European market for GRC services experiencing double digit growth over recent years, which is expected to continue, driven by an increasingly complex regulatory landscape.
On the back of strong market demand, and with the successful launch of new service concepts and long-term embedded customer relationships, FCG has grown rapidly over the past years to become the largest dedicated GRC team across the Nordic region. Its high level of competence and expertise of regulatory frameworks, combined with a partnership philosophy towards customers and a highly motivated management team, has allowed FCG to grow the customer base across all sizes and segments of the financial industry.
Under the new ownership, FCG will continue to build on its position as the leading specialist service provider of GRC services to the financial sector, in current as well as in new geographies.
The transaction is subject to approval by the Swedish Financial Supervisory Authority.
Advisors involved in the transaction included:
– For FCG: Keystone MCF Corporate Finance (financial), Andulf (legal)
– For BDC: Vinge (legal), KPMG (financial, tax, pensions), Arkwright (commercial), Marsh (insurance)