Accelerating Growth for Foreside

Welcome to the inaugural edition of LMP Spotlight, our newsletter dedicated to shining a light on the partnerships, news, and trends that drive us at Lovell Minnick Partners (LMP). 

We thrive on partnering with founders and management teams to deploy effective strategic initiatives, cultivate and execute external growth opportunities, source and negotiate strategic transactions, and foster valuable and lasting relationships from our deep network of industry relationships.

One such successful partnership was with Foreside, a governance, risk, and compliance solutions platform for the investment services industry.

As LMP Partner Spencer Hoffman explains in the video below, our interest in Foreside began eight years before our investment. During this time, we built a strong relationship with Foreside’s management team and watched them grow into a platform primed for growth both organically and through strategic acquisitions.

At the time of investment, our thesis centered on Foreside’s ability to expand its addressable market by deepening relationships with existing clients and broadening its relevance in areas they didn't currently serve. Our history of investing in businesses that could enhance and expand their target client base gave us confidence that we could support Foreside in achieving its goals through investments in technology, sales, marketing, and operations.  

We are proud to have supported Foreside along its growth journey and look forward to watching its continued development in the years to come as ACA Foreside. To learn more about how we provided Foreside with hands-on support across its business lines, watch the video interviews below.

Note: This video was produced prior to the merger of Foreside and ACA Group to form ACA Foreside , which occurred in May 2022. References to Foreside therefore reflect the period until that time.

Important Disclosures: Videos by Lovell Minnick contain assessments and opinions of past and present Lovell Minnick and portfolio company personnel regarding Lovell Minnick’s partnering capabilities and are intended to be viewed by potential portfolio company executives. The portfolio companies represented in any Lovell Minnick video were chosen to illustrate Lovell Minnick’s investment experience and the processes and approaches used by Lovell Minnick in the past with respect to its portfolio companies and investment funds, and does not purport to be a full list of investments by Lovell Minnick. A complete list of portfolio companies is available on Lovell Minnick’s website (www.LMPartners.com). Past performance is not necessarily indicative, or a guarantee, of future results. It should not be assumed that portfolio companies discussed were profitable, or that investments made in the future will be comparable in quality or performance to the investments described herein. There can be no assurance that Lovell Minnick will be able to implement its investment strategy or achieve its investment objectives for any portfolio company or investment vehicle. Under no circumstances should these videos be construed as an offer to sell, or a solicitation to buy, any security or as opinions regarding the provision of investment advisory services by Lovell Minnick.

Dave Whitaker served as President of Foreside Financial Group (“Foreside”), a former Lovell Minnick portfolio company which was exited in September 2021, and is currently the Head of Strategy & Corporate Development at STP Investment Services (“STP), another Lovell Minnick portfolio company. Mr. Whitaker was asked by Lovell Minnick to discuss Foreside’s partnership with Lovell Minnick after the announcement of Fund IV’s sale of Foreside. Mr. Whitaker has not received any compensation or other benefit in exchange for providing these statements and is not a current advisory client of Lovell Minnick or an investor in any fund sponsored by Lovell Minnick. While Lovell Minnick does not believe this creates a conflict of interest, Mr. Whitaker’s relationship with Lovell Minnick has the potential to create a conflict of interest or otherwise influence the statements made by him about Lovell Minnick.

Since 1999, LMP has been investing in growth-oriented, middle-market companies in the financial services, financial technology, and business services sectors. Learn more about our approach to adding value for our partners by visiting our website.

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