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Ethos Partners sell Cosegic to MML Enterprise

Lower mid-market private investment firm Ethos Partners will sell UK compliance consultancy Cosegic to international mid-market private equity firm MML Capital.

Cosegic which provides compliance consultancy and regtech services for firms that offer regulated financial services, was acquired by Ethos in March 2021 to facilitate the retirement of majority owner Ben Mason, who founded the business in 2003 as Compliancy Services.

Cosegic helps clients become authorised by the Financial Conduct Authority and the Prudential Regulation Authority and manages their ongoing compliance and regulatory obligations.

In June 2022, the company completed the bolt-on of Portman Compliance, owned and led by Nancy King, after which the enlarged group became known as Cosegic. The deal saw Portman’s portfolio of around 150 clients, the majority of which were hedge funds and private equity businesses, serviced within the rebranded Cosegic business. In November 2022, Adam Holden joined as CFO.

Cosegic were advised by Arrowpoint Advisory, HCR, Grant Thornton, CIL, Quantuma and Shoosmiths.

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