Background
- DC Advisory advised Newgate Compliance (Newgate), a compliance consultancy and hosted regulatory solutions provider, on its sale to Ocorian.
- Newgate offers compliance solutions to the funds industry through its proprietary software solution ‘The GATEway’, a cloud-based compliance monitoring program that enables clients to track and meet their FCA regulatory obligations efficiently.
- Backed by Inflexion Private Equity, Ocorian is a leader in fund administration, capital markets, corporate and fiduciary services.[1]
Process
- DC Advisory (DC), led by James Nichols, was appointed by Newgate to advise on its sale to Ocorian.
- The founders of Newgate appointed DC to assess the merits of a sale of the business, advise on the terms of the transaction and manage the process to ensure a successful conclusion.
Outcome
- Together, Ocorian and Newgate will provide end-to-end administration services and a suite of compliance and regulatory services.
- Newgate will benefit from Ocorian’s extensive suite of services across the globe and will be able to take advantage of the broader opportunities that come with being part of a multinational enterprise.
- The transaction reflects Ocorian’s strategy of building out its high-touch, value-add service suite for its core client base and strengthens its service offering to fund managers that operate and are regulated in the UK.
- The transaction further enhances DC’s already very strong track record in the professional services and governance, risk and compliance sectors.
We appointed DC Advisory to help us and the other shareholders assess the merits of a sale of the company and then steer us to a successful conclusion, which they did superbly. Their thoughtful, well-reasoned advice and sound judgement at key moments were instrumental in helping to deliver the transaction and we’re grateful to James, Phil and the team for being with us every step of the way. In Ocorian, we’ve found a great partner and there is an incredibly exciting future ahead for our clients and colleagues.
We are delighted to have advised Newgate Compliance shareholders on the sale of the business to Ocorian. Martin Herriot and Aron Brown, co-founders, have built Newgate from scratch into a best-in-class compliance solutions platform and we’re confident that as part of Ocorian the group will continue to go from strength to strength. For DC, this successful transaction further enhances our already very strong advisory franchise in the white collar services sector.
