Houlihan Lokey Advises Defaqto

Houlihan Lokey is pleased to announce the sale of Defaqto, a portfolio company of Synova Capital, to SimplyBiz Group PLC (AIM:SBIZ) for a consideration of £74.3 million. The transaction was announced on 20 March 2019.

Defaqto is a leading financial services technology business operating a fintech platform for 8,500 advisers and providing independent ratings of 21,000 financial products and funds, licensed by 230 brands. Defaqto generated FY18 revenue of £12.5 million with an adjusted EBITDA of £5.2 million.

Synova Capital is recognised as one of Europe's leading growth investors, generating class-leading returns from investing in companies in the financial services, technology, business services, and health and education verticals. The investment has generated an overall return to Synova of 3.9x invested capital and an IRR of 46%.

SimplyBiz is the largest independent provider of compliance and business services to financial advisers and financial institutions in the U.K. The company's Intermediary Services Division provides compliance and business services to over 3,700 individual intermediary firms through a comprehensive membership model.

Houlihan Lokey served as the financial advisor to the shareholders of Defaqto. This transaction highlights Houlihan Lokey's long-standing reputation and credentials as a premier advisor within the financial technology sector, following recent transactions including the sale of Pirum Systems to Bowmark Capital, Compuscan to Experian, TotallyMoney to SEP and Elliot, Asset Control to Sovereign Capital, Robidus to Aegon, Lombard Risk to Vermeg Group,* Message Automation to Broadridge,* 4Sight Financial Software to Broadridge,* and Dynamo to Francisco Partners,* alongside advising FactSet on their acquisition of BISAM.*

* These transactions were closed at Quayle Munro prior to its acquisition by Houlihan Lokey to establish the Data & Analytics Group.


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