New Mountain Capital, a New York-based investment firm, has agreed to offload ACA Compliance Group (ACA), a provider of risk management and technology solutions for the financial services sector in the US and Europe, to Starr Investment.
The companies did not disclose the financial terms of the transaction.
ACA’s solutions focus on regulatory compliance, performance, financial crime, as well as cybersecurity. The firm caters to investment advisers, private fund managers, commodity trading advisers, investment companies and broker-dealers.
New Mountain acquired a majority stake in ACA in December 2013. ACA has tripled its workforce since then.
New Mountain managing director Robert Mulcare said: “ACA’s more than fourfold growth in enterprise value since 2013 demonstrates New Mountain’s commitment to partnership and business building through organic growth and acquisitions.”
New Mountain managing director and ACA chairman of the board Peter Masucci added: “We implemented a number of strategic initiatives to accelerate ACA’s growth and global potential, and look forward to seeing ACA continue to thrive moving forward.
“This new partnership will create significant value for all ACA stakeholders and we are confident that ACA is well positioned to continue on its impressive trajectory with Starr.”