Keensight Capital completes the sale of FircoSoft, a provider of software financial solutions

Keensight Capital, a leading player in European Growth Private Equity, announces that it has completed the sale of FircoSoft, a global leader in watch list filtering solutions for bank transactions, to Reed Elsevier.

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. Keensight Capital first invested in the company in May 2011 through a majority LBO transaction, alongside the management and Paris Orléans. In three years, FircoSoft has opened seven new offices throughout the world, and Keensight Capital also accompanied the company 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. During these years of collaboration with Keensight, the company’s turnover has doubled, as well as the total number of employees, now over 150 people. This sale will allow Keensight Capital to achieve a return of nearly seven times the amount it initially invested.

For Jérôme Pujol, Managing Partner at Keensight Capital:

“Over our three years as financial partner, we have helped FircoSoft to successfully undertake a critical phase of its growth strategy. First of all, we supported the company in becoming an independent structure following its spin-off from the Sword group. We then worked closely with the company’s management so as to develop the company on an international level, with the opening of seven new offices, for example in Australia, South Africa and the United States, but also in Brazil and Luxembourg. As a vertical software provider positioned on a niche market segment, which remains very dynamic independently of macroeconomic conditions, FircoSoft fits exactly with our investment
strategy and with our specific expertise in the IT sector. Due to its market positioning as a world leader, the company continues to enjoy sustained growth and is today in a perfect position to continue its development.”

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