Waystone completes investment from Montagu and announces new strategic investment from Hg
Dublin, Republic of Ireland and London, United Kingdom [24 January], Waystone Group, a leading provider of institutional governance, risk, and compliance services to the asset management industry, today announce that Montagu, a leading private equity firm, has completed its investment in Waystone, and Hg, a leading global software and services investor, will join as a strategic investor and joint shareholder. Montagu first announced its investment in Waystone in July 2021. Hg’s investment is subject to regulatory approval and customary closing conditions
Founded in 2000 and based in Dublin, Waystone serves clients with assets under management totalling more than US$1 trillion, delivering the tools and expertise to manage their governance and regulatory requirements, enabling them to focus on their core business. It has achieved global scale through a series of carefully planned acquisitions, and today provides an extensive range of services and solutions across multiple international jurisdictions.
Montagu and Hg will partner with the company’s strong management team, led by CEO Derek Delaney, to continue to grow and complement Waystone’s existing service offering while supporting further geographic and product expansion through targeted acquisitions.
“Hg will join Montagu and the management team as key shareholders. This will support our growth as an institutional, global service provider, paving the way for further expansion in 2022,” said Derek Delaney, Global CEO at Waystone.
“As a long-established investor in the space, we recognise the growth opportunity for fund services, and specifically a third-party management company with Waystone’s global reach and competitive strength. We look forward to working with Waystone’s strong management team to meet the future needs of its clients,” said Tobias Weltin, Director at Montagu.
“We’re impressed with what Derek and his team have achieved over the last decade. Hg knows the sector well, having invested around $4.5 billion into legal & compliance and the capital markets segments to date. This experience means that we know quality when we see it, and Waystone stands out as a leading platform for consolidation in this sector,” said Thorsten Toepfer, Partner at Hg.
“We recognise Waystone as a leading platform in fund governance, with a differentiated profile and potential to scale further. We look forward to what we can achieve together with Montagu, Derek and the team,” said Justin Von Simson, Managing Partner at Hg.
Waystone is a leading provider of institutional governance, risk, and compliance services to the asset management industry. Partnering institutional investors, investment funds and asset managers Waystone builds, supports, and protects investment structures and strategies worldwide. With over 20 years’ experience and a comprehensive range of specialist services to its name, Waystone is now supporting asset managers with more than US$1Tn in AUM. Waystone provides its clients with the guidance and tools to allow them to focus on managing their investment goals with confidence.
Montagu is a leading mid-market private equity firm, committed to finding and growing businesses that make the world work. With deep experience in healthcare and the tech-enablement of essential businesses, Montagu brings proven growth capabilities to help companies achieve their ambitions and unlock the full potential of their business. Montagu is committed to the mid-market, with a specialism in carve-out transactions and other first-time buyout investments. ESG forms an integral part of its strategy, and its commitment to sustainable investment is fully integrated into its investment and value-creation process. Montagu partners with businesses between €200 million and €1 billion and has €10bn assets under management.
Hg is a growth platform for software and services champions, focused on backing businesses that change how we all do business. Deep technology expertise, complemented by vertical application specialisation and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses. Hg has funds under management of around $40 billion, with an investment team of over 140 professionals, plus a portfolio team of around 40 operators, providing practical support to help our businesses to realise their growth ambitions. Based in London, Munich and New York, Hg has a portfolio of over 35 software and technology businesses, worth around $92 billion aggregate enterprise value, with over 55,000 employees globally, growing at over 20% per year. Visit www.hgcapital.com for more information.
Hg media contact
+44 208 148 5401
Azadeh Varzi and Samantha Chiene (Brunswick)
+44 207 404 5959