Kester backs management buy-out of ComplianceOnline
Published 5th August 2019
The deal represents Kester’s third portfolio bolt-on acquisition in the past 12 months, while ComplianceOnline said that the acquisition will support its own growth plans.
As part of the agreement, ComplianceOnline founder David Morgan will now step down, with Mike Woolfrey, who has been chief executive since 2018, to continue to lead the business.
ComplianceOnline uses its Gambling Compliance, Payments Compliance and RegData to help compliance and legal teams around the world to manage risk and discover new market opportunities.
“I have been proud to have led ComplianceOnline to this point and am delighted to be handing over to Mike,” Morgan said. “His experience and expertise will take ComplianceOnline to the next chapter of growth.”
Woolfrey added: “This deal is an important and significant milestone for ComplianceOnline, and we are delighted to be partnering with Kester Capital. We have huge potential for growth, and I am looking forward to leading the organisation as we move into this next phase.”
Adam Maidment, managing partner of Kester Capital, also said: “We’re delighted to be investing in ComplianceOnline and look forward to partnering with Mike and the management team.
“Its ambition, management talent and potential for continued strong growth make ComplianceOnline a great example of the type of business that we are looking to back with first time institutional capital and support.”