About a-team Marketing Services
The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Marlin Puts Asset Control on the Block with £100 million Price Tag

Subscribe to our newsletter

Asset Control is up for sale, with owner Marlin Equity Partners looking to sell to another private equity or venture capital company, according to individuals familiar with the proposed transaction. The asking price? An astonishing eight times EBITDA, or about £100 million, according to these individuals. Marlin is believed to have paid less than £20 million to acquire Asset Control in 2013.

To make Asset Control more attractive to potential buyers, headcount has been halved from the almost 200 on payroll at the time Marlin took over from previous owners Fidelity Ventures, and surplus-to-requirements European offices have been closed to cut costs. This reduction in overhead has been accompanied by a major push to migrate the firm’s offerings to cloud and hosted service models, and the addition of open source solutions including Apache Cassandra and Cloudera.

Asset Control declines to comment on the prospect of a sale and Marlin does not return phone calls.

The launch of the Asset Control sales prospectus comes just over 18 months after the installation of former Interactive Data Corp President Mark Hepsworth as CEO, and four years after the company’s acquisition by Marlin Equity Partners from Fidelity Ventures in 2013.

The tenure of Hepsworth, the third CEO since Marlin took over the company, has been characterised by relative calm following a fairly tumultuous period in Asset Control’s history, which also saw the late pull-out of Markit from acquisition talks prior to Marlin’s arrival.

Hepsworth brought a new broom to Asset Control, hiring senior executives to the management team including Gary Appleby, head of international sales, and Simon Rayfield, head of client services. On joining the company, he signalled a shift away from the company’s traditional focus on large EDM solutions and a move towards provision of more focused use case products including Fundamental Review of the Trading Book (FRTB) and Markets in Financial Instruments Directive II (MiFID II) solutions, and an independent price verification service. Standardisation of products to help clients avoid customisation was also on Hepsworth’s agenda, along with an increase in staff numbers.

Asset Control has this year made two significant additions to its portfolio: data loaders that will deliver full sets of MiFID II reference data fields to financial institutions; and a recently released cloud-based, NoSQL market and reference data platform powered by DataStax Enterprise and integrated with AC Plus to address issues around data volume, speed and access.

It remains to be seen whether this will be enough to lure potential buyers to part with £100 million. We’ll keep you posted.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: A practical guide to dual UK and EU regulatory reporting as the Temporary Permission Regime comes to a close

Date: 19 July 2022 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes The Temporary Permission Regime (TPR) allowing capital markets participants in the European Economic Area (EEA) to continue to operate in the UK post Brexit will be withdrawn by the end of 2023, calling on firms that want to stay...

BLOG

BankInvest Selects IHS Markit EDM Managed Service to Support Next Phase of Growth

Danish asset manager BankInvest has selected IHS Markit’s enterprise data management (EDM) managed service as part of a transformation based on an increase in market share over recent years and designed to upgrade operations systems to support the next phase of growth. The firm already uses the vendor’s corporate actions solution. The IHS Markit EDM...

EVENT

RegTech Summit London

Now in its 7th year, the RegTech Summit in London will bring together the RegTech ecosystem to explore how the European capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Regulatory Data Handbook 2021/2022 – Ninth Edition

Welcome to the ninth edition of A-Team Group’s Regulatory Data Handbook, a publication dedicated to helping you gain a full understanding of regulations related to your organisation from the details of requirements to best practice implementation. This edition of the handbook includes a focus on regulations being rolled out to bring order and standardisation to...