FircoSoft Undergoes Management Buyout to Strengthen Future Growth
FircoSoft Group, a provider of watch list filtering and sanctions screening solutions and services, has undergone a successful management buyout (MBO) from owner Sword Group for an undisclosed sum. FircoSoft’s senior management team, led by chief executive officer (CEO) Jean Losco, and R Capital Management, a European growth equity firm sponsored by Rothschild, initiated the buyout.
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.
Losco said: “This 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.”