Portico Capital Advises World-Check on an Investment led by Spectrum Equity
Portico Capital Securities announced today that it served as the exclusive financial adviser to World-Check, the leading provider of structured intelligence on heightened risk individuals and entities, in a significant equity investment from Spectrum Equity Investors and HarbourVest Partners. Terms of the transaction were not disclosed.
David Leppan, Founder and CEO of World-Check said, “We are extremely pleased to have Spectrum make this strategic investment in the company. While World-Check has grown significantly since its founding six years ago, we believe we are still in the early stages of the company’s growth opportunity. With their domain expertise and financial resources, Spectrum represents the ideal partner to help World-Check further capitalize on the numerous growth prospects facing the company. We are also pleased to have HarbourVest as investors given their strong international presence and extensive resources.”
World-Check is relied upon by more than 2000 institutions, including 45 of the world’s 50 largest financial institutions and hundreds of government agencies and regulators, with its global database of heightened-risk individuals and businesses. World-Check is utilized as an integral part of its clients’ customer due diligence efforts both at the point of new account origination as well as for ongoing screens of existing customer lists.
“World-Check is a perfect fit for Spectrum, given our focus on investments in profitable, growing providers of information services,” said Chris Mitchell, Managing Director of Spectrum Equity Investors. “The Company has emerged as the clear market leader and industry standard for Know Your Customer (KYC) and Anti-Money Laundering (AML) intelligence, and its roster of marquee clients consistently attests to the value of the product in managing financial and reputational risk, as well as in complying with regulatory requirements. We look forward to working with David and the management team to build a world class company.”
Searcy Dryden, Managing Director and Group Head of Risk Management for Portico Capital, noted: “We are delighted to have worked with World-Check on this transaction. David has been a true visionary in building not only the Company, but also the very underlying market for such data, risk, and compliance services. In Spectrum and Chris Mitchell, the Company could not have found a better lead partner.”
About Portico Capital Securities, LLC
Established in 2000, Portico Capital Securities is the leading merchant bank with an exclusive focus on the Information and Business Services industry. Portico provides M&A and private capital financing advisory services to the leading private and public growth companies in this Industry. For more information about Portico Capital’s services, transactions and experience, please visit https://www.porticocap.com.
Richard R.S. Northrop