Gridiron Capital invested in AML RightSource, an outsourced provider of financial crimes compliance services. Gridiron is buying the company from Clarion Capital Partners. The firm is partnering with AML RightSource’s management and founders on the deal.
Gridiron Capital, LLC (“Gridiron Capital”), an investment firm focused on partnering with founders, entrepreneurs, and management teams, is pleased to announce an investment in AML RightSource (“AMLRS” or the “Company”), the leading outsourced provider of Anti-Money Laundering (“AML”), Know Your Customer (“KYC”), and Bank Secrecy Act (“BSA”) compliance solutions. Gridiron Capital is partnering with the Company’s Founders and management team to help drive the next phase of growth, and Frank Ewing, CEO, and Paul Linehan, President, are excited to continue leading the Company. Gridiron is acquiring AMLRS from Clarion Capital Partners, LLC (“Clarion”).
“AMLRS has an impressive management team and differentiated, scalable business model that provides superior value to its customers. They have continued to grow and add capabilities since we met them years ago.”
Headquartered in Cleveland, Ohio, AML RightSource is a leading professional services firm specializing in solutions for AML/BSA and financial crimes compliance needs to a diverse set of banks and non-bank financial institutions in North America. AMLRS’s experience, knowledge, and infrastructure allow the company to bring value to clients of all sizes and types. Today, AML RightSource is the largest dedicated provider of AML solutions in North America with over 1,000 employees serving clients from offices in Ohio, Arizona, New York, and Ontario. AMLRS was once again included in Inc.’s 5000 fastest growing private companies in America in 2020.
Tom Burger, Founder and Managing Partner at Gridiron Capital stated, “AMLRS has an impressive management team and differentiated, scalable business model that provides superior value to its customers. They have continued to grow and add capabilities since we met them years ago.” Will Hausberg, Managing Director at Gridiron Capital added, “We are honored that Frank and the AMLRS team have chosen us to be their partners and we look forward to delivering Gridiron Capital’s extensive resources to help accelerate the Company’s exceptional growth trajectory.”
Paul Linehan, AML RightSource President, added, “We plan to continue advancing our strategic efforts to leverage technology and data-enabled solutions to further arm our clients with the full suite of services necessary to fight financial crime.”
“We are proud to have worked with an exceptional management team to build AML RightSource into a market leader in financial crimes compliance, trusted by the largest and most innovative financial institutions globally, to fight financial crime. Over the past three year partnership, AML RightSource made significant investments in its infrastructure, more than doubled its employee base, and is on a clear path for continued success,” said Matthew Feldman, a Managing Director with Clarion Capital Partners.
Frank Ewing concluded, “Thanks to the Company’s tireless work, and strategic direction from Clarion, we are poised to become the global leader in this space. We are excited to continue executing on our strategic direction and expanding our capabilities through additional service offerings and geographies. Now, with the backing and strategic vision of Gridiron Capital, we can further accelerate our progress as we fulfill our mission of fighting financial crime for our clients and the world.”
Benesch, Friedlander, Coplan & Aronoff LLP advised Gridiron Capital on the transaction. AML RightSource received investment banking advice from Raymond James & Associates, Inc., legal advice from Brownstein Hyatt Farber Schreck, LLP, and accounting and tax advice from RSM US, LLP. AML RightSource management was advised by Choate, Hall & Stewart LLP.
About AML RightSource, LLC
AML RightSource is the leading firm focused on fighting financial crime for its clients with Anti-Money Laundering (AML)/Bank Secrecy Act (BSA) and financial crimes compliance solutions. We provide highly-trained AML/BSA professionals to assist banks and non-bank financial institutions to meet day-to-day compliance tasks. Services include transaction monitoring, alert backlog management, enhanced due diligence reviews, and financial crimes advisory matters. Our highly trained workforce of analysts and subject matter experts includes the industry’s largest team of full time professionals. AML RightSource is headquartered in Cleveland, Ohio. For more information, visit http://www.amlrightsource.com.
About Gridiron Capital, LLC
Gridiron Capital is an investment firm focused on partnering with founders, entrepreneurs, and management teams, and creating value by building middle-market companies into industry-leaders in branded consumer, B2B and B2C services, and niche industrial segments in the United States and Canada. We help transform growing companies by winning together through hard work, partnerships grounded in shared values and a unique culture that comes from hands-on experience building and running businesses. As a team led by former operators and entrepreneurs, we know what it takes to run successful businesses on a day-to-day basis. Additional information is available on the firm’s website: www.gridironcapital.com.
About Clarion Capital Partners, LLC
Clarion Capital Partners is a New York based private equity firm that focuses on making equity investments in lower middle market growth companies. Clarion’s industry focus includes Business & Healthcare Services, Specialty Financial Services, Media, Entertainment & Technology, and Consumer & Retail. Additional information on Clarion can be found at www.clarion-capital.com.