All hands on deck for Ultimus linkup with LLR Partners
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All hands on deck for Ultimus linkup with LLR Partners 19 June 2012Ohio Reporter: Georgina Lavers
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LLR Partners, a middle market private equity firm with more than $1.4 billion under management, has put an undisclosed amount into Ultimus Fund Solutions, a provider of fund accounting, fund administration, distribution, transfer agent and shareholder services to the mutual fund industry.
Co-founders of Ultimus Bob Dorsey and Mark Seger will maintain control of the company. “LLR was the only firm we talked to that looked at Ultimus as a partner, not just another transaction,” said Dorsey. “The team’s expertise in financial and business services enabled them to understand our business quickly and speak our language.
Their willingness to craft a deal that provides the capital and strategic guidance we need to grow, but allows Mark and me to continue to run the business we created.”
Jim Ashton, former CEO of the financial systems division of SunGard Data Systems, Mitchell Hollin, Partner at LLR Partners, and Michael Bishof, president of Independence Capital Partners, will join the Ultimus board of directors.
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