Cinven and Objectway's Leader Collaborate for Business Expansion
In a significant move for the wealth management industry, private equity firm Cinven has announced its investment in Objectway, a leading digital end-to-end "Solution-as-a-Service" provider for wealth managers, banks, and asset managers.
PwC advised on the tax and legal due diligence for Objectway, while Giovannelli Associati acted as the legal advisor and Russo De Rosa Associati served as the tax advisor for the company. The lawyer who advised Luigi Marciano and his company Objectway on the sales contract remains undisclosed.
Houlihan Lokey served as the financial advisor to Objectway on the transaction, which is subject to regulatory approvals and other customary closing conditions.
Cinven, with its wealth of experience in the financial services and technology sectors, and a successful track record of partnering with exceptional management teams to create market-leading businesses, is set to help Objectway's management team achieve their growth ambitions, with a focus on tech-led innovation and buy and build strategies.
Luigi Marciano, the founder, CEO, and Chair of Objectway, will continue in his role after Cinven's investment. The transaction between Objectway and Cinven marks the first investment from Cinven's new mid-market strategy.
Objectway's modular, front-to-back office software and solutions platform, delivered through a flexible design based on scalable cloud infrastructure, supports more than 250 financial institutions across more than 16 countries. The company has consistently been selected by many of the world's wealth managers, private banks, asset managers, and asset services as their digital wealth platform.
The wealth management ecosystem is exhibiting consistent growth and strong demand for investment in modern technology solutions. The outsourced technology and tech-enabled services spend across the wealth management, banking, and asset management industries is expected to grow strongly.
Cinven's investment in Objectway is seen as a strong endorsement of the company's business model, leadership team, and long-term growth plan. The transaction is expected to help Objectway grow as a clear category leader, accelerate growth, broaden capabilities, and support global expansion.
Luigi Sbrozzi, Partner and Co-Head of the Strategic Funds at Cinven, expressed excitement about partnering with Objectway, stating, "We are thrilled to be investing in Objectway, a company that is at the forefront of digital innovation in the wealth management industry. We look forward to supporting the management team in their growth ambitions and helping them continue to deliver market-leading solutions to their customers."
Cinven was advised by Jefferies (M&A), Freshfields (Legal), PwC (Financial), Alix Partners (Technology & Operations), Oliver Wyman (Commercial), and Deloitte (Tax and Structuring). Deloitte provided strategic consulting on the business plan, as well as financial, commercial, and technical due diligence for Objectway.
The transaction is expected to be completed in the coming months, subject to regulatory approvals and other customary closing conditions.
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