D.A. Davidson & Co. announced that it served as the exclusive financial and strategic advisor to GoldenSource, a provider of enterprise data management and master data management solutions to financial services companies worldwide, on its acquisition by Gemspring Capital. Gemspring is a middle-market private equity firm based in Westport, Conn., with $1.5 billion of capital under management. GoldenSource was backed by The Invus Group, evergreen equity investors with over $10 billion under management. Gemspring and GoldenSource management expect to work together to accelerate both organic and inorganic growth initiatives.
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Sitting at the center of an organization’s data strategy, GoldenSource’s proprietary modular platform allows banks, brokers, investment managers and other financial services firms to automate and efficiently ingest, master, and publish financial data to downstream systems from a single authoritative source to mitigate risks, comply with regulatory requirements, control costs and take advantage of new business opportunities.
“This transaction represents another successful closing by our Technology Group, highlighting our deep domain expertise in the B2B financial technology space and our successful track record generating highly favorable outcomes for high-quality fintech companies globally,” said Ken Marlin, vice chairman of D.A. Davidson’s Technology Investment Banking Group.
John Eley, chief executive officer of GoldenSource commented: “The D.A. Davidson team was invaluable to getting this transaction across the line. Their deep domain expertise, wise counsel and relentless commitment to the process proved critical in facilitating a successful transaction for us. I am proud of our GoldenSource team’s accomplishments over the past several years. 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. We have significant plans for future product innovation and are excited to partner with Gemspring to accelerate our growth and continue creating value for our clients, employees, and shareholders.”