The IMS Group, a London, UK-based provider of consulting and integrated business support to the wholesale asset management and securities industry, has received a majority investment of undisclosed amount from Sovereign Capital.
Lloyds TSB Corporate Markets Acquisition Finance provided debt for the transaction.
Sovereign Capital will provide a combination of financial backing and business acceleration experience to to support IMS’ continued growth.
In conjunction with the deal, Sovereign has appointed Michel van Leeuwen as Group CEO and Tony Solway as Non-Executive Chairman.
Mr. van Leeuwen was previously Managing Director, Worldwide Capital Markets, at Microsoft Corporation.
Mr. Solway was CEO at BNP Paribas Securities Services.
IMS’s founder, Scott Wilson, will remain a part of the IMS management team as Non-Executive Director.
IMS offers regulatory compliance consulting to UK regulated financial services firms. Alongside this, the company provides related services including hosted regulatory permissions, due diligence, compliance training, risk management and recruitment.
It also offers accounting, taxation and administration services through IMS Buzzacott, a joint venture with the top 30 niche accounting firm Buzzacott LLP, and US regulatory consulting through IMS Consulting (US) LLC based in New York.
Established in 1997, IMS supports more than 400 investment businesses, ranging from established global firms to start-ups. Clients include large hedge fund managers, private equity firms, fund of funds managers, family offices and institutional pension fund managers.