Grant Thornton advises FS Assist

Thedata (FS Assist) is a UK-based provider of regulatory reporting software for insurance companies, pension funds, and other financial institutions. Its Excel-based solutions enable compliance with a range of regulatory frameworks, including Solvency II/Solvency UK, Lloyd's Market Solvency UK, IORP II pensions, Lloyd's Syndicate Accounts, CBI taxonomy and Bank of England statistical reporting.

Its solutions are used across 18 countries in the European Economic Area, serving clients ranging from large multi-national insurers to smaller specialist providers.

The transaction will further strengthen Cleversoft’s Supervisory Reporting business, expand its presence in the UK insurance market and add a highly complementary customer base.

Using our in-depth sector experience, following a number of transactions within Regtech, and our knowledge of the broader space and market, we focussed on a select number of acquirors for the shareholders to speak to and positioned the business in a way that meant conversations the shareholders had with interested parties were both informed and discursive.

We ran a tight and competitive process that generated a range of offers for the shareholders to consider, with Grant Thornton leading and managing all workstreams through to completion including negotiations, overall process management, and liaising with international advisors for cross-border considerations, delivering a successful result for the client.