FircoSoft Group, the worldwide leader in watch list filtering and sanctions screening solutions and services, announced today it has undergone a successful management buyout from owner Sword Group for an undisclosed sum.
The buyout was initiated by FircoSoft's senior management team led by CEO Jean Losco and R Capital Management, a European growth equity firm sponsored by Rothschild. The transaction will enable the award-winning group to enhance its position as a market leader, building on the strong customer base it has nurtured since 1994 while providing a robust platform to grow its business forward.
Headquartered in Paris and employing 87 people in London, Paris, Singapore and New York, FircoSoft has been marketing its watch list filtering solution since 1994 and counts 404 customers who are using this solution in more than 70 countries.
Jean Losco, Fircosoft President & CEO, says: "Today's announcement is an important milestone in the growth of our company. I am delighted that the MBO has been successful. We had been looking at the best options to manage our growing business while maintaining the high level of services and commitment to our customers and the culture of honesty and integrity of FircoSoft. While the MBO is the perfect continuity in the way operations were run until today, partnering with R Capital Management presents a great opportunity to be closer to existing and new customers by extending our presence in regions such as Switzerland and Australia. In the short term, this partnership also offers us the capacity to immediately increase our research and development budget to ensure our solutions are always matching the expectations of our customers and the ever changing regulations. "
Jérôme Pujol, Managing Director - R Capital Management, adds : "We are excited to start this new phase of the FircoSoft story with Jean Losco and his talented management team. We, at R Capital Management, a member of the Rothschild Group, were really impressed by FircoSoft positioning, the quality of its filtering solutions as well as its impressive track record. We look forward to working with Jean and his team to further strengthen and develop FircoSoft leading position over the coming years. The unparalleled worldwide leading market position of FircoSoft combined with the experience of the management team provide the perfect foundations for its future development."