Combines ComplySci’s Established Employee Compliance Technology with Three-Plus Decades of Compliance Expertise and Strategic Relationships of NRS
ComplySci, an established provider of regulatory technology and compliance solutions for the financial services sector, announced the commencement of its M&A growth strategy, starting with the acquisition of National Regulatory Services (NRS), an advanced provider of compliance consulting services and technology solutions for investment advisers, broker-dealers, hedge funds, private equity firms, insurers and other financial services firms.
The transaction further strengthens and expands ComplySci’s ability to support its financial services clients’ compliance needs by combining its technology, which automates and streamlines mission-critical employee compliance functions, with NRS’ longtime, hands-on expertise in helping clients navigate the ever-changing industry regulatory environment.
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Moving forward, NRS – which was founded over three decades ago – will do business as NRS, a ComplySci Company, with John Gebauer continuing his role as President, NRS. NRS was formerly part of Accuity, a LexisNexis® Risk Solutions company and a part of RELX, the global provider of information-based analytics and decision tools for professional and business customers.
The acquisition of NRS reflects ComplySci’s broader growth vision for broadening its service and product offerings through both organic expansion as well as multiple strategic acquisitions to become the go-to resource for compliance solutions for financial services companies. It is ComplySci’s first acquisition since receiving a $120 million growth equity investment from K1 Investment Management, the global private equity firm, in June.
ComplySci CEO Amy Kadomatsu said, “When we received our recent equity growth investment of $120 million just over three months ago, we were excited to leverage the capital to add fuel to our growth through acquisitions as well as investments in our products and services. Our acquisition of NRS creates a truly differentiated offering of technology-driven, automated RegTech capabilities, combined with NRS’ hands-on personal compliance guidance based on 30-plus years of experience, insight and technical understanding.”
Ms. Kadomatsu continued, “We’ve actually been working closely with NRS for years referring clients to each other to complement our respective capabilities. There’s no doubt that ComplySci’s clients will benefit enormously from the NRS team’s expertise, consulting services, educational programs and ComplianceGuardian™ technology, while NRS’ current clients will benefit from an end-to-end compliance management solution with a single point of contact. Technology solutions are so much more powerful when coupled with experts who provide personal guidance to help clients utilize it most effectively within their business. This acquisition positions ComplySci to reach new levels of growth and industry recognition.”
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Founded in 1984, NRS supports small- and mid-size RIAs and investment adviser firms with offerings in the following areas.
- Consulting:Â NRS provides customized, practical reviews and guidance that firms can leverage to evaluate and strengthen their compliance programs. Its collaborative approach prescribes clear actions that firms can take, rather than simply identifying deficiencies.
- Technology:Â The ComplianceGuardian platform provides firms the tools they need to stand up and manage their compliance programs. It provides model policy and procedure and other document templates, expert guides and checklists, an annual review management tool and more.
- Education:Â NRS co-sponsors the Investment Adviser Certified Compliance Professional program, one of the only designations for investment adviser compliance professionals in the financial services industry. It also offers numerous continuing education and networking opportunities for compliance professionals.
Mr. Gebauer said, “Long before any strategic discussions started, we were deeply familiar with ComplySci’s differentiated value proposition, and when the opportunity to join them arose, it made sense, both from a strategic perspective and in terms of enhancing our ability to offer our clients a holistic package of compliance-management solutions and services. We are thrilled to collaborate with Amy and the entire ComplySci organization as we move forward together as one firm, leveraging the combined power of our two business models.”
ComplySci board member Stephen Marsh, Chairman and Founder of the electronic communications archiving provider Smarsh, said, “I have a long history with both organizations, and I am thrilled to be working with John Gebauer and his NRS team again. The incredible growth potential that the combination of these two organizations will bring is exciting. With the acquisition of NRS, ComplySci will enhance their already robust suite of compliance solutions and continue to evolve as the provider of choice for automated regulatory and compliance solutions in the financial services space.”
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