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Successful transformation of a transfer agent into a leading provider of fintech solutions for the financial industry

Investor: Highlander Partners

Industry: B2B services

Year of investment: 2012

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Company

ProService offers outsourcing of processes and fintech products for investment funds and providers of specialized insurance products.                    

Highlander Partners acquired ProService from Skarbiec Holding in 2012. Within three years, the company was transformed from a service center subsidiary into a strong, independent service provider, the leader in transfer agency services in Poland and the first-choice fintech platform for the financial sector in Poland. The value of the company was built by expanding the product range and entering into new business segments, as well as by building a corporate culture promoting high employee commitment, which significantly improved the efficiency of operational processes. Thanks to the joint effort of the company’s newly strengthened management and the investor, a firm foundation was established for the next stage of ProService’s growth – international expansion. Highlander Partners sold ProService to a private equity investor (Cornerstone/Oaktree) in 2016.

Growth

wykres proservice en v6

Assets administered (PLN bN)

Main objectives of the funding

  • Actively support the development of a company operating in Poland’s rapidly growing specialist financial services sector
  • Foster the market expansion of ProService as a company independent from Skarbiec Holding
  • Create a long-term strategy and provide equity to support growth
  • Invest in new technologies

Achievements of the company

  • Significant increase in both revenues and earnings through organic growth and acquisitions (FIN24, business lines related to valuation and accounting of funds from AXA, accounting department from Skarbiec Holding)
  • Broader offer encompassing new services and products, including strong development of the fund valuation and accounting part of the business
  • Wider customer base, for instance in the insurance sector
  • Consolidated and expanded leading market position in Poland’s transfer agency services sector
  • Market leadership in specialized software for the financial industry (fintech platform), achieved by effectively implementing new regulatory systems (FATCA, AML, MiFID, CRS) and successfully applying innovative technology in data mining and online distribution of financial products
  • Sustainable gains in operational efficiency and safety, achieved by implementing formalized project management methodologies and procedures for continuous operational improvement (Lean, Kaizen), as well as through changes in strategic analysis, planning and controlling

112.5%
EBITDA growth
 2012 - 2015

51.4%
revenue growth
2012 - 2015

 

Value added by PE/VC fund

  • Management strengthened; motivation programs improved
  • Long-term growth strategy created and implemented
  • Investment in the latest technology