Copper Avenue Capital, the personal fairness investor centered on decrease mid-market European monetary providers, has invested in regulatory consultancy group, Thistle Initiatives Group Restricted.
Based in 2012, Thistle Initiatives Group has grown right into a multi-award-winning regulatory consultancy, offering professional regulatory recommendation and help for an enormous and various shopper base of UK and worldwide companies working throughout the spectrum of economic providers.
The funding will help the long-term progress of Thistle Initiatives Group, with a objective to greater than double in measurement over the following three years by means of each natural progress and acquisition. Thistle is nicely positioned to grow to be a frontrunner within the quickly rising compliance consultancy market, as a consequence of its experience throughout key areas impacted by structural tailwinds within the sector resembling consolidation, the expansion of fintech and an elevated give attention to monetary crime and regulatory adjustments following Brexit.
The transaction marks Copper Avenue Capital’s fifth funding, because it continues to increase its attain throughout decrease mid-market European monetary providers. Its wider portfolio consists of Lantern, a number one participant within the UK speciality finance debt buy market, One 4 9 Group, an impartial UK monetary recommendation and fund administration group and Saranac Companions, a non-public workplace offering bespoke recommendation and funding administration providers to ultra-high internet price shoppers.
The funding builds on a powerful interval of exercise for Copper Avenue Capital, having introduced final month the profitable divestment of its minority stake in Italian cellular funds service Satispay, after initially investing within the firm in 2018. Since that funding, Satispay has seen distinctive progress and grow to be Italy’s largest cellular funds supplier.
Jerry del Missier, founding companion of Copper Avenue Capital, mentioned, “Since launching Copper Avenue Capital, we’ve continued to spend money on distinctive companies throughout the spectrum of economic providers – so we’re happy to welcome Thistle Initiatives Group into the Copper Avenue household.
“Having labored with Thistle over the previous few years as shoppers, we’ve constantly been impressed with their work and the size of their ambition. We stay up for supporting the management crew as they proceed rising the corporate into a frontrunner in compliance consultancy.
“The demand for compliance providers is growing within the face of quite a few market tailwinds, together with important market consolidation, the expansion in monetary know-how, the next diploma of give attention to monetary crime, and elevated regulator independence on account of Brexit. Thistle has established itself as an agile multi-disciplinary chief within the sector and is well-positioned to proceed capturing market share.”
James Dingwall, CEO and founding father of Thistle Initiatives Group, mentioned, “Copper Avenue’s funding into Thistle Initiatives Group will allow us to speed up our progress as we glance to construct Thistle right into a market chief in regulatory consultancy, by means of each natural progress and acquisition. We stay up for persevering with to work carefully with the crew at Copper Avenue and benefitting from their precious perception and help.”
Alongside James, Thistle’s senior administration crew can even embrace Group Managing Director Sophie Lengthy and joint Chief Monetary Officer and Chief Working Officer, Michael Bellenger.
Justin Bull, Chief Working Officer and Companion, and Elliot Tahmasebi, Principal, at Copper Avenue Capital, can even maintain seats on the Thistle Initiatives Group board.
Copper Avenue Capital was supported on the transaction by Proskauer Rose, DLA Piper, PwC, RSM and Oliver Wyman.