Equity investment firm Triple Private Equity has taken a majority share in digital compliance and anti-money laundering software provider, SmartSearch,
Following the significant equity investment, Triple Private Equity will work alongside the existing SmartSearch management team to deliver on the company’s next stage of growth.
SmartSearch founders and existing shareholders will retain a minority share in the company.
Founded in 2011, SmartSearch’s customer base includes over 1,000 property firms, one in two of the top 100 accountancy firms and one in three of the top 200 legal firms in the country.
SmartSearch chief executive Guy Harrison says: “Triple are an excellent match for SmartSearch in its ambitious next phase of growth. The business is especially looking forward to calling on their deep expertise in scaling mission critical, B2B risk and compliance software.” Martin Cheek, co-founder and managing director of SmartSearch, said: “Having founded the business with John Dobson, I am incredibly proud of what we have built at SmartSearch, the world class technology we have developed and the talented team we have created. In a little more than a decade, SmartSearch has grown from a Regtech start-up, to a trailblazing technology company that is driving the digital compliance revolution. This major investment from Triple is a true testament to the hard work of our nearly 200-strong team who, alongside Triple, will be instrumental in this next stage of growth.”
Mads Hansen, head of investments and managing & founding partner at Triple, says: “[Smartsearch] has shown consistent growth and profitability and provides a high-quality software platform for its clients. We look forward to partnering with the SmartSearch team to pursue the company’s next stage of growth.”
SmartSearch were advised on the deal by Rothschild (corporate finance), Squire Patton Boggs (legal), KPMG (financial and tax), Park Place (founders advice) and Liberty (management advice).