360T Group, the leading independent global provider of a multi-bank, multi-asset trading platform, announced today that growth equity investor Summit Partners has signed a definitive agreement to invest in the company.
The investment will position 360T for continued strong global growth. The investment will involve a partial divestiture of the stake held by Brockhaus Private Equity, which will continue to be a 360T shareholder after the transaction.
360T, the leading B2B web-based model in Europe, will remain an independent company. Summit Partners is partnering with the existing management team, led by CEO Carlo Koelzer, who is a significant shareholder. The transaction is pending regulatory approval by BaFin, the financial regulatory authority for Germany, and the German Cartel Office. Financial terms of the transaction were not disclosed.
Summit Partners will acquire a majority stake in 360T. The investment will strengthen 360T's continuous growth and international expansion into new markets, and supports 360T's strategy in providing a best-in-class trading technology.
Founded by CEO Carlo Kölzer and Mathew Kuppe in 2000, 360T provides web-based trading technology for OTC financial instruments, particularly currency exchange, short-term money market loan/deposits and interest rate derivatives. 360T's secure, smart global transaction network enables clients to trade with greater transparency and enhanced control at every stage of the trading lifecycle. The company also offers a hosted white label trading technology that enables organizations to provide internal electronic trading services on a proprietary branded platform.
More than 100 global and regional market makers connect to 360T's bank-independent trading platform, securing global liquidity delivered with the latest execution features and seamless processing. 360T's buy-side clients include national and multinational corporate treasuries, institutional clients such as asset managers, broker/dealers and banks. The company is regulated by BaFin.
360T was advised on the transaction by Hengeler Mueller and Lincoln International. Summit Partners was advised by Weil, Gotshal & Manges LLP and Torch Partners Corporate Finance.