Willkie Farr & Gallagher is advising Genstar Capital on the merger of its portfolio company Foreside Financial Group with ACA Group, a rival provider of governance, risk, and compliance services for the financial services industry.
Kirkland & Ellis is advising ACA Group on the transaction, which calls for Genstar to acquire a controlling stake in ACA from Starr Investment Holdings LLC, according to a statement.
Willkie is also advising Foreside, which Genstar invested in earlier this year. After closing, expected in 2022’s first half, Genstar will become majority owner of the combined business.
The combined firm will have over 1,100 employees and 16 offices worldwide. It brings together ACA’s technology, regulatory compliance, cybersecurity, environmental, social and governance capabilities with Foreside’s distribution, consulting, and broker-dealer know-how, the statement said.
“We believe the combined company will be well positioned to capitalize on secular market growth trends and to help global clients navigate an evolving and complex regulatory landscape,” said Genstar managing director Tony Salewski and principal Sid Ramakrishnan in a statement.
Terms of the transaction were not disclosed.
To contact the correspondent on this story: Rick Mitchell in Paris at rmitchell@correspondent.bloomberglaw.com
To contact the editor on this story: Chris Opfer in New York at copfer@bloomberglaw.com; John Hughes in Washington at jhughes@bloombergindustry.com
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