UK growth capital specialists Sovereign Capital have bought a majority stake in consulting and business support service IMS Group.
IMS provides regulatory compliance consulting and integrated business support to the wholesale asset management and securities industry in the UK.
Scott Wilson, who founded IMS Consulting in 1997, will be replaced as group CEO by Michel van Leeuwen, a former managing director of Worldwide Capital Markets at Microsoft. Wilson will stay on the board as a non-executive director.
Tony Solway, CEO at BNP Paribas Securities Services, will take over as chairman.
“As our clients face increasingly complex regulatory, administrative and corporate challenges, we identified Sovereign’s sector knowledge and absolute focus on buy and build as the right combination to support us as we expand our range of our services,” said Wilson.
Sovereign Capital takes stakes of up to £40m (€47m) in UK education, healthcare and other businesses.
Copyright © 2010 AltAssets