360T Group, a Frankfurt, Germany-based multi-asset trading platform, has received an undisclosed amounting of funding from the growth-equity firm Summit Partners, headquartered in Boston. Summit is buying part of its stake in 360T from the Frankfurt-based private equity firm Brockhaus Private Equity, which remains a shareholder. 360T will remain an independent company.
FRANKFURT AM MAIN, GERMANY and LONDON, UK (February 16, 2012)—360T Group, the leading independent global provider of a multi-bank, multi-asset trading platform, announced today that growth equity investor Summit Partners has signed a definitive agreement to invest in the company. The investment will position 360T for continued strong global growth. The investment will position 360T for continued strong global growth. The investment will involve a partial divestiture of the stake held by Brockhaus Private Equity, which will continue to be a 360T shareholder after the transaction.
360T, the leading B2B web-based model in Europe, will remain an independent company. Summit Partners is partnering with the existing management team, led by CEO Carlo Koelzer, who is a significant shareholder. The transaction is pending regulatory approval by BaFin, the financial regulatory authority for Germany, and the German Cartel Office. Financial terms of the transaction were not disclosed.
Summit Partners will acquire a majority stake in 360T. The investment will strengthen 360T’s continuous growth and international expansion into new markets, and supports 360T’s strategy in providing a best-in-class trading technology.
Founded by CEO Carlo Kölzer and Mathew Kuppe in 2000, 360T provides web-based trading technology for OTC financial instruments, particularly currency exchange, short-term money market loan/deposits and interest rate derivatives. 360T’s secure, smart global transaction network enables clients to trade with greater transparency and enhanced control at every stage of the trading lifecycle. The company also offers a hosted white label trading technology that enables organizations to provide internal electronic trading services on a proprietary branded platform.
More than 100 global and regional market makers connect to 360T’s bank-independent trading platform, securing global liquidity delivered with the latest execution features and seamless processing. 360T’s buy-side clients include national and multinational corporate treasuries, institutional clients such as asset managers, broker/dealers and banks. The company is regulated by BaFin.
360T was advised on the transaction by Hengeler Mueller and Lincoln International. Summit Partners was advised by Weil, Gotshal & Manges LLP and Torch Partners Corporate Finance.
About 360T Group
360T Group (www.360t.com), based in Frankfurt, Germany, is the leading global provider of web-based trading technology for OTC financial instruments, particularly currency exchange, short term money market loan/deposits and interest rate derivatives. Based on its proprietary core technology, 360T’s multi-bank platform provides deep liquidity of more than 100 global and regional market makers used by over 1000 client organizations worldwide. The company also offers a professional white-label trading technology for electronic trading services to a closed group of users on a proprietary branded platform. The company has a global presence with customers in more than 45 countries and offices in America, Asia-Pacific and the Middle East.
About Summit Partners
Summit Partners (www.summitpartners.com) is a growth equity firm that invests in rapidly growing companies. Founded in 1984, Summit has raised more than $14 billion in capital and has offices in Boston, London, Palo Alto and Mumbai. Summit seeks outstanding management teams that have built their companies to market leadership, and provides equity and credit for growth, recapitalizations and management buyouts. Notable financial technology and services companies financed by Summit Partners include Acturis Limited, Clearwater Analytics, FleetCor Technologies, Flow Traders, Liquidnet Holdings, Multifonds, Ogone, optionsXpress and Salient Partners.
About Brockhaus Private Equity
Brockhaus Private Equity (www.brockhaus-pe.com) is an independent private equity firm founded in 2000 and based in Frankfurt am Main, Germany. The firm manages funds from institutional investors with a volume of more than € 175 million. Focusing on buy-out and growth financing deals, Brockhaus Private Equity makes equity and equity-related investments in the range of €5 million to €25 million per engagement in Germany and other European countries. The investment focus is on technology leaders in the German Mittelstand (SMME).
In the United States of America, Summit Partners operates as an SEC-registered investment advisor. In the United Kingdom, this document is issued by Summit Partners Limited, a firm authorized and regulated by the Financial Services Authority. Summit Partners Limited is a limited company registered in England and Wales with company number 4141197, and its registered office is at 20–22 Bedford Row, London, WC1R 4JS, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.