Private equity firm Keensight Capital is in negotiations with Reed Elsevier for the sale of FircoSoft, a specialist in watch list filtering solutions.
The proposed transaction is expected to be concluded in the coming weeks, pending the completion of a consultation with the works council of FircoSoft.
Created in 1990 and based in Paris, FircoSoft provides software solutions which allow its clients to filter financial transactions against sanctions and watch lists in order to ensure compliance with existing regulations while meeting Know Your Customer (KYC) requirements.
In the context of the company’s spin-off from the Sword Group, Keensight Capital led FircoSoft’s buyout in May 2011 alongside the company’s management and Paris Orléans. Since then, the Keensight Capital investment team has worked closely with the management in order to establish the company as an independent structure and to accelerate FircoSoft’s growth, notably through its international expansion, with the opening of seven new offices across the world over three years. Keensight Capital further supported FircoSoft during two acquisitions, the first in Brazil which helped to increase the company’s presence in South America, and the second to strengthen its KYC product portfolio.
Jérôme Pujol, managing partner at Keensight Capital, says: “We are proud to have accompanied FircoSoft throughout this important stage of its development. As a vertical software company, FircoSoft fits perfectly with our investment strategy and our expertise within the IT sector. Since its spin-off from the Sword Group in 2011, the company has enjoyed very strong growth due to its value-added offer within a market segment benefiting from strong fundamentals. Throughout our time as a financial partner, we have been able to provide it with the necessary means to successfully pursue its international development, both through organic and external growth, thanks to the network we have built up over the years.”
