KUALA LUMPUR, Oct 20 (Bernama) -- Grupo BC announced that Silver Lake, a leading global technology investment firm, together with Grupo BC’s founding shareholders and management team, will acquire 100 per cent of the company from majority holders L-GAM in order to foster the next phase of Grupo BC’s growth and value creation.
Co-Head of Silver Lake EMEA, Christian Lucas said: “Grupo BC is an outstanding company with a unique value proposition as a scaled and tech-enabled provider of mission-critical services and software to financial institutions across Iberia and Latin America.”
“Investing in impactful, leading and technology-enabled business models is at the core of Silver Lake’s DNA, and we feel privileged to partner with management as Grupo BC enters a new phase of organic and inorganic growth.”
The transaction is anticipated to close in November. Further terms of the investment are not being disclosed, according to a statement.
Silver Lake’s investment is intended to further product development in order to strengthen and expand Grupo BC’s solution range as well as to continue its track-record of pioneering digital innovation.
This is consistent with management’s clear focus on building out Grupo BC’s software and data analytics capabilities to enhance its client-centric solutions and drive continued organic and inorganic growth.
Founded in 1974 and headquartered in Madrid, Grupo BC is the leading tech-enabled processing platform, software and services provider for mortgage management, online mortgage brokerage, legal solutions (claims processing and loan management), and digital solutions to the financial sector.
Socios Financieros and Canson Capital Partners served as financial advisers to Grupo BC and its shareholders, while dwf-RCD served as legal adviser to Grupo BC and its shareholders.
Paul, Weiss, Rifkind, Wharton & Garrison LLP and Uría Menéndez served as legal adviser to Silver Lake.
More details at http://www.silverlake.com.
-- BERNAMA
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