Asset Control loses control to Marlin private equity big fish

6 August 2013

London-based data management software specialist, Asset Control, has been acquired by the US private equity firm Marlin Equity Partners, ending speculation about the future of the company.

The deal should enable Asset Control to invest in its products and strategic initiatives, developing the next line of data management software packages while maintaining its implementation and support services for its global client base. Financial details of the private equity takeover were not disclosed. Fidelity Ventures has been looking to offload the vendor for some time.

Marlin Equity Partners has more than $2.6bn of capital under management and invests in businesses across multiple industries. It has successfully completed over 65 acquisitions to date and the firm is headquartered in Los Angeles, US, with an additional office in London.

Commenting on the unpriced deal, Dean Goodermote, chief executive officer (CEO) of Asset Control, said: “This is a very positive step for Asset Control and our clients, providing greater strategic clarity for the company. It is a clear vote of confidence in the business and our products, and will enable us to focus on developing both. Marlin’s operational experience in financial services software and access to capital make them the ideal partner to help us in our next phase of growth.”

According to Shawn McMorran, managing director of Marlin’s London office, the private equity group is excited to add another respected business to its growing European portfolio. “Asset Control represents an excellent platform for growth in the data management and financial software industry,” he said, adding that he believes it is perfectly placed to take advantage of the cost and regulatory-driven demand for more effective data management in financial institutions.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development