Silverfleet Capital has acquired Microgen Financial Systems Limited (MFS), a provider of fund administration.
Through the acquisition, MFS will be able to increase its technology adoption within the trust and corporate services market, expanding its product range, client base and geographic reach.
Additionally, Silverfleet will apply its knowledge of the trust and fiduciary services sector.
Headquartered in Fleet, UK with offices in London, Guernsey, Cambridge and Cyprus, MFS provides front and back office technology solutions to the financial services industry.
The transaction is subject to the approval of the shareholders of the seller, Aptitude Software Group.
David MacKenzie, partner at Silverfleet Capital, said: “We are delighted to acquire MFS and execute our second deal in the lower mid-market segment. We are excited by the prospect of working closely with the high-quality management team to accelerate growth within the business.”
He added: “Our experience in building scale and enhancing value in this sector means we are an ideal strategic partner to drive this company forward.”
Robert Browning, CEO of MFS, commented: “Silverfleet is the ideal partner to take our business forward and enable MFS to become the clear market leader. Their impressive investment experience in this sector is unrivalled, and will be invaluable as we look to execute on our growth objectives."
