ACA Group (ACA) and Foreside Financial Group, providers of governance, risk, and compliance (GRC) solutions to clients in the financial services industry, have merged to become one company.
Genstar will be the majority owner of the combined business as a result of acquiring a controlling interest in ACA from Starr Investment Holdings, LLC. The transaction is expected to finalise in the first half of 2022.
The merger will see ACA’s technology, regulatory compliance, cybersecurity, environmental, social and governance, and performance capabilities combined with Foreside’s distribution, compliance consulting, and broker-dealer capabilities.
The combination of ACA and Foreside will provide a full suite of GRC consulting, technology, managed services, analytics, and outsourcing solutions to the financial services industry.
At the completion of the merger, the firm will have more than 1,100 employees and 16 offices globally and will serve over 5,000 clients.
Shvetank Shah, CEO of ACA Group, will become CEO of the new company upon completion of the transaction.
Commenting on the merger, Shah says: “Partnering with Foreside and Genstar will be a game changer in our industry. Both firms share the same commitment to create a category leader in a rapidly evolving space. Foreside and ACA have earned outstanding reputations and our aligned vision, client-centric focus, and commitment to innovation will help our customers navigate their most complex GRC challenges.”
Rich Berthy, founder and CEO of Foreside, comments: “We at Foreside are very excited by the opportunity this combination presents. The combined company will have the global resources to continue to develop innovative products with a single vision focused on providing the best client advice.”
