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Multi-asset enterprise trading technology provider, oneZero Financial Systems, has secured investment from San Francisco-based private equity firm Golden Gate Capital, whilst retaining support from existing investor Lovell Minnick Partners (LMP). The investment aims to accelerate oneZero's organic growth and merger and acquisition opportunities, building on the company's expansion since LMP's initial investment in 2019.
The Somerville-based company, founded in 2009 by Andrew Ralich and Jesse Johnson, processes more than $250 billion in average daily volume, handling 12 million transactions and 150 billion quotes per day through its Hub, EcoSystem and Data Source platform components.
Ralich and Johnson will maintain their positions as Chief Executive Officer and Chief Technology Officer respectively, remaining the largest individual shareholders following the deal's completion. Financial terms were not disclosed.
Andrew Ralich, CEO of oneZero, said: "Golden Gate Capital's investment is a seamless extension of our beneficial relationship with LMP. This next stage investment, alongside LMP's continued support, validates the clear opportunity we see to expand our role as a leading technology partner in the global OTC asset trading market."
Dan Haspel, Managing Director at Golden Gate Capital, said: "oneZero's recent momentum reinforces the strength of its development roadmap and organic growth strategy as it continues to drive differentiated and intelligent performance for its clients. We are confident that oneZero has the right leadership team and strategic plan in place to continue this impressive momentum."
Steve Pierson, Managing Partner at LMP, said: "Over the past five years, oneZero has demonstrated remarkable growth and product expansion, and we are confident that Golden Gate Capital will be an excellent partner to continue this trajectory. We are excited to continue supporting the company as it continues to grow for years to come."
Houlihan Lokey acted as exclusive financial advisor to oneZero, with Gunderson Dettmer serving as legal advisor to oneZero and LMP. Broadhaven Capital Partners and Paul, Weiss, Rifkand, Wharton & Garrison advised Golden Gate Capital.
Golden Gate Capital, established in 2000, manages approximately $20 billion in cumulative committed capital, while LMP has raised over $5 billion since 1999, investing in more than 50 platform companies with over 200 add-on acquisitions.
