Dash Financial Technologies has partnered with private equity investment firm, Flexpoint Ford.
The agreement will see Flexpoint Ford acquire the Dash business from GTCR—a private equity firm focused on leveraged buyouts.
Peter Maragos will continue to lead the business as CEO and board member, while Steven Begleiter, managing director of Flexpoint Ford, will serve as non-executive chairman. Daniel Edelman, principal of Flexpoint Ford, will join as a board member.
The deal is expected to close in the Q2 2018, subject to regulatory approvals.
Upon closing, GTCR will complete its investment in Dash, which it began around the same time that Dash merged with the LiquidPoint division of Convergex, an investment management provider.
Commenting on the buy-out, Maragos, said: “This is a very exciting moment for our firm as we embark on the next chapter of growth with a new strategic partner. We are incredibly grateful for the contributions and support we received from GTCR and we are thrilled about what this new partnership with Flexpoint Ford will ultimately allow us to do for our clients in the institutional trading community.”
Daniel Edelman, commented: “We have known the Dash management team for some time and look forward to helping them to build upon the firm’s significant success to date by both accelerating current organic growth and by pursuing potential adjacent acquisitions, similar to the highly successful LiquidPoint transaction.”
