Gemspring Capital, a middle-market private equity firm, has acquired GoldenSource, a provider of enterprise and master data management solutions to financial services companies worldwide.
Financial details were not disclosed.
Founded in 1984 and headquartered in New York City, GoldenSource provides software to investment banks, asset managers, and capital markets services firms to manage and derive insights from their data in a more streamlined manner.
The firm’s solutions enable customers to manage risks, comply with regulatory requirements, and control costs in the middle and back office.
The products offer market, reference, customer, position and transaction data to a rane of systems including trading, compliance, risk management, settlements, environment, social and governance (ESG) and accounting.
GoldenSource also provides related cloud hosting and managed services to enable ease of implementation and seamless ongoing usage.
“The company is rapidly growing and profitable, but most importantly we are unified behind the goal of providing superior enterprise data management solutions and services to our global client base,” said GoldenSource CEO John Eley.
He added, We have significant plans for future product innovation, and are excited to partner with Gemspring to accelerate our growth and to continue to create value for our clients, employees and shareholders.”
Aron Grossman, Managing Director at Gemspring, said, “For over three decades, GoldenSource’s products and data model have provided the ‘source of truth’ underlying critical decisions made by the Company’s financial services customers.
He said, “Given increased regulatory reporting requirements and the proliferation and expanding cost of new data sources, we see increased demand for GoldenSource’s offerings going forward.
We believe there is significant opportunity to build upon GoldenSource’s product leadership to address market needs, both organically through increased R&D as well as through strategic acquisitions.”
Gemspring Capital is a Westport, Connecticut-based private equity firm with $1.5 billion of capital under management, provides flexible capital solutions to lower middle market companies.
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