Abrigo, a portfolio company of Accel-KKR, has acquired Wisconsin-based Farin Financial Risk Management, a provider of enterprise risk management solutions. No financial terms were disclosed.
AUSTIN, Texas, March 5, 2019 /PRNewswire/ — Abrigo, a leading technology provider of compliance, credit risk, and lending solutions for community financial institutions, announced today the acquisition of Wisconsin-based Farin Financial Risk Management (FARIN). FARIN is a leader and industry trendsetter in the enterprise risk management space, with their flagship asset liability management platform and highly regarded advisory services.
Farin advisory services and solutions are essential for financial institutions in determining interest rate and liquidity risk exposures and addressing these issues with loan and deposit pricing. FARIN’s industry experts tailor solutions for each institution, from modeling the impact of net interest margins and interest rate shocks to providing loan and deposit pricing studies and tools, resulting in significantly improved profitability.
“We are focused on accelerating growth through the acquisition of new technologies and capabilities, with the express purpose of providing our customers with best in class enterprise risk solutions,” said Wayne Roberts, CEO of Abrigo. Adding, “FARIN is a perfect fit for Abrigo’s strategy to make big things happen for community financial institutions. With its innovative approaches to asset liability management, FARIN enables its customers to grow and increase profits by managing market and liquidity risk.”
Dave Koch, CEO of Farin Financial Risk Management adds, “We are extremely excited about joining forces with Abrigo. This partnership brings new and exciting opportunities for our clients as well as our experienced team of dedicated professionals. This combination of innovative, industry-leading companies will continue Tom Farin’s commitment to helping community financial institutions.” Tom Farin, Chairman and Founder adds, “Abrigo is committed to the values of leading-edge products, thought-leadership education and outcome focused professional services for community institutions that drove FARIN for 34 years.”
Abrigo is funded by private equity firm Accel-KKR (AKKR). Park Durrett, AKKR Managing Director, states, “We invested in Abrigo to build a platform company serving financial institutions needing enterprise risk management solutions. This acquisition adds to a strong and growing portfolio and will continue to enhance the value the company brings to both its customers and the industry.”
Abrigo is a leading technology provider of compliance, credit risk, and lending solutions that community financial institutions use to manage risk and drive growth. Our software automates key processes – from anti-money laundering to fraud detection to lending solutions – empowering our customers by addressing their Enterprise Risk Management needs. Visit www.abrigo.com to learn more. Follow Abrigo on social media using @WeAreAbrigo.
About FARIN Financial Risk Management (FARIN)
Based in Madison, Wis., FARIN is a leader in asset liability management software and advisory services. For over 30 years, FARIN has provided financial consulting, software and analysis designed to drive earnings improvements for financial institutions nationwide. Services include in-house and outsourced asset liability management models, retail deposit and loan pricing solutions, core deposit analysis, capital planning, credit risk management, CECL, and CPE-approved education webinars and workshops. FARIN’s team of leading industry experts tailor solutions for each institution, resulting in significantly improved profitability. Visit www.FARIN.com to learn more.
Accel-KKR is a technology-focused investment firm with over $5 billion in capital commitments. The firm focuses on software and IT-enabled businesses well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value through significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR is headquartered in Menlo Park with additional offices in Atlanta and London. For more information, please visit www.accel-kkr.com.