10/11

IMS extends client base with acquisition of RSL

09/02/11

Sovereign Capital, the UK private equity Buy & Build specialist, today announces that only two months after backing regulatory compliance provider The IMS Group (“IMS”) it has completed its first bolt-on, with the acquisition of MMS Regulatory Solutions Limited (“RSL”). Both businesses provide regulatory consultancy and other business support services to the asset management and securities industry.

Established in 1999 as Leale-Green, and subsequently re-branded MMS Regulatory Solutions, the business offers a complete compliance service including assistance with the FSA authorisation process, developing compliance procedures and the provision of comprehensive compliance monitoring programmes.

RSL has built an excellent reputation for the quality of its service delivery among its client base, which includes hedge funds, investment managers and brokers, ranging from start-ups to mature businesses.

The acquisition brings both an extended client base and RSL’s team of experienced consultants, who can help meet the growing demand for the enlarged Group’s services. A number of RSL’s consultants have considerable SEC expertise which will be of particular benefit to clients due to the upcoming requirement for SEC dual registration. RSL’s founder, Alan Leale-Green also joins IMS as a Group Director.

Commenting on the transaction, Michel van Leeuwen, CEO of the IMS Group, said: “The regulatory compliance market is in need of a large, quality-driven regulatory service provider like IMS in what is a fragmented market, predominantly consisting of many small firms. This acquisition expands our expertise and consolidates IMS’s market-leading status serving more than 600 regulated clients. With Sovereign’s continued backing, IMS will continue to consolidate the UK market in addition to focussing on international expansion in response to the industry’s increasingly global requirements.”

For further information please contact: Julie Sieger, Sovereign Capital, on +44 (0)20 7340 8800 or email:juliesieger@sovereigncapital.co.uk