Aquiline Capital and ADIA back software firm Fullsteam

• The capital infusion will be used by Fullsteam for growth and expansion
• Fullsteam was established in 2018 by CEO Michael Lawler and Aquiline
• Goldman Sachs served as lead financial advisor and Raymond James served as financial advisor to Fullsteam

Auburn, Alabama-based Fullsteam, a provider of integrated business management software and payments to customers across the Main Street economy, has secured an investment from Aquiline Capital Partners LLC, a subsidiary of the Abu Dhabi Investment Authority along with a consortium of other investors. No financial terms were disclosed.

Aquiline will remain as the lead investor in Fullsteam and ADIA will become a significant minority investor.

The capital infusion will be used by Fullsteam for growth and expansion.

Fullsteam was established in 2018 by CEO Michael Lawler and Aquiline.

On the investment, Joe Pappalardo, a partner at Aquiline, said in a statement, “When we established Fullsteam with Mike and Greg Colella, our M&A leader, our goal was to address and accelerate two significant trends in vertical software: the adoption of business management across the small business economy and the convergence of this core software with merchant payment processing.”

Goldman Sachs served as lead financial advisor and Raymond James served as financial advisor to Fullsteam. Willkie Farr & Gallagher LLP served as legal advisor for Aquiline and Fullsteam.

Based in New York and London, Aquiline targets financial services and technology, healthcare and business services. The firm has $9.9 billion in assets under management as of March 31, 2023.