Private equity firm Kester Capital has backed the management buyout of ComplianceOnline, which provides regulatory intelligence to the gambling and payment sectors.
ComplianceOnline was established in 2007 and provides in-depth insight, analysis, commentary and research to clients on a subscription basis to enable compliance and legal teams to manage risk and discover new market opportunities.
The company’s founder David Morgan will step down following the buyout and Mike Woolfrey, who has been CEO since 2018, will continue to lead the business.
Mike Woolfrey, CEO of ComplianceOnline, said: “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, added: “We are 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.”