TA Associates Announces Investment in LIST S.p.A.
BOSTON and PISA, Italy – TA Associates, a leading global growth private equity firm, today announced that it has completed an investment in LIST S.p.A. (“LIST”), a developer of software solutions for the financial industry. Financial terms of the transaction were not disclosed.
LIST is a provider of mission-critical trading and compliance software solutions and infrastructural services to a wide range of financial institutions. The company’s trading and brokerage platform offering, FastTrade, supports operations in a multi-asset and multi-market environment with modules for pricing, quoting, hedging, position keeping, algorithmic trading and execution management in high and low-touch business environments. LIST’s capital markets, governance, risk and compliance solutions are used by more than 130 customers ranging from investment banks and asset managers in Italy to large global financial corporations. The company is headquartered in Pisa, Italy, and has additional offices throughout Italy and around the world, including the United States, the United Kingdom, Spain, Poland, Canada, India and Malaysia.
“As one of Europe’s leading capital markets technology providers, LIST has a strong and long-term track record of delivering exceptional software and services across a wide range of trading and compliance needs,” said J. Morgan Seigler, a Managing Director at TA Associates who will join the LIST S.p.A. Board of Directors. “Importantly, we are investing alongside what we believe to be a seasoned, passionate and talented management team that will continue to actively build the company. We are honored to be a part of the LIST family and are excited to begin working closely with management to help LIST capitalize on its strategy and international growth initiatives.”
“Over the course of our 33-year history, we have strived to provide our customers with high quality products and services to help them meet their unique trading and compliance needs,” said Enrico Dameri, Co-Founder, Chairman and Chief Executive Officer of LIST S.p.A. “We believe our partnership with TA Associates will help us expand our offerings and territories, while continuing to deliver the services our customers have come to expect. Perhaps what we are most excited about is that TA is fully-aligned with and supportive of our strategy, and has committed to working collaboratively with our team to accelerate our forward momentum. We welcome TA as an investor and look forward to benefitting from this partnership.”
“Software services for financial-focused companies around the world are increasingly playing a more critical role in a variety of daily operations,” said Naveen Wadhera, a Managing Director at TA Associates who will join the LIST S.p.A. Board of Directors. “As institutions around the world continue to shift towards electronic trading practices, we believe LIST is well positioned to take advantage of further growth opportunities in international and emerging markets. We are pleased to have the opportunity to partner with LIST’s management team and founders as we seek to create significant additional value in the company.”
In addition to Morgan Seigler and Naveen Wadhera, Stefan Dandl, a Vice President at TA Associates, will also join the LIST S.p.A. Board of Directors.
Latham & Watkins LLP provided legal counsel and KPMG served as financial advisor to TA Associates. Nctm Studio Legale provided legal counsel and Studio MCCR served as financial advisor to LIST S.p.A.
About LIST S.p.A.
LIST S.p.A. has been a leader for more than 30 years in designing and developing innovative software solutions for the financial world. The company has conceived, designed, developed and produced software and cutting-edge systems for capital markets, helping to create the first electronic Monetary and Financial markets. The company has developed platforms and solutions for trading on financial markets, which have been milestones in the evolution of Trading Systems. LIST has also created integrated solutions for managing risk, audit and governance of organizations and financial processes (governance, risk and compliance). The company was founded in 1985 and is headquartered in Pisa, Italy. More information can be found at www.list-group.com.
About TA Associates
TA Associates is one of the largest and most experienced global growth private equity firms. Focused on five target industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in growth companies. TA has raised $24 billion in capital since its founding in 1968 and is committing to new investments at the pace of $2 billion per year. The firm’s more than 85 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.