Style Research, the leading independent provider of global investment research and portfolio analysis applications, has partnered with growth investors Lyceum Capital to accelerate expansion.
New capital will be used principally to fuel Style Research's growth in the United Kingdom, North America, Europe and Asia and to fund new product development.
Founded in 1997, Style Research provides portfolio analysis and market analysis services and research facilities for global institutional investment professionals, including asset owners, managers, advisors and consultants. The company specialises in offering holdings-based style, structure, risk and performance analysis of investment portfolios and currently serves more than 300 blue-chip institutional clients around the world. The services are delivered on a SaaS-based platform that supports a range of devices.
Style Research has its headquarters in London and offices in Boston and Montreal. With subscription-based recurring revenues, an exceptional client retention rate and strong cash-flow, the business has seen double-digit growth over recent years and is poised to continue its expansion with investment support from Lyceum.
Lyceum will work alongside the existing Senior Management Team: Peter Hopkins (COO); George Kallarackal (CTO); and Bernie Nelson (President - North America). Founder Robert Schwob will step down from his day-to-day role as Chief Executive but will continue to work as an Advisor and Senior Representative of the company. Kirsten English will join as Executive Chairman. Kirsten has worked for 30 years in Financial Technology and brings both relevant industry experience and a track record of growing companies under private equity ownership.
Founder of Style Research, Robert Schwob, said: “In Lyceum, we chose a partner that has a solid history of supporting the successful internationalisation of the businesses it backs. Lyceum's expertise will help us accelerate our growth and invest further in our business so that we can continue to offer our clients access to the very best intelligence in the marketplace.”
Lyceum's Founding Partner Jeremy Hand led the investment and will join the board of directors at Style Research.
Jeremy Hand commented: “Style Research has built a great business. Clear, concise and accessible portfolio analysis is increasingly in demand from sophisticated investors for internal and external review, monitoring and reporting and for compliance purposes; and Style Research is the clear global leader in its field. Its reputation, for both the quality of its insights and the intuitiveness of its software, is unrivalled.”
Kirsten English, incoming Executive Chairman, added: “There is enormous potential for Style Research in a growing segment. I look forward to working with a talented team of professionals who are thought-leaders in this market. We plan to deploy capital to enrich the current offerings, launch the new products customers are asking for and expand the footprint internationally through organic expansion, new partnerships and, if it makes sense, acquisitions.”
Lyceum Capital will be investing alongside management, founder Robert Schwob and Invex Capital Partners, who initiated the deal.
Lyceum was advised on the transaction by EY (commercial due diligence), Olswang (legal), Goldenhill (corporate finance) and KPMG (financial due diligence).
Style Research was advised by Solomon Taylor & Shaw, Foley & Lardner (legal), BCMS (corporate finance) and Markhams Accountants (financial).
Style Research management was advised by Gateleys plc, Pepper Hamilton and Squire Patton Boggs (legal).