Realization represents K1’s second exit since Safer-At-Home orders were put in place in March 2020
K1 Investment Management, LLC (“K1”), a leading investment firm focusing on high-growth enterprise software companies, announced it has entered into a definitive agreement to sell FMG Suite, LLC (“FMG Suite”), the category leader in cloud-based marketing automation software for financial services professionals, to Aurora Capital Partners (“Aurora”), a leading private equity investor in enterprise software and financial technology.
The announcement comes on the heels of K1’s April 20, 2020 announcement of the sale of its holding in Checkmarx LLC to Hellman & Friedman LLC in a transaction valuing Checkmarx LLC at $1.15 billion. The Checkmarx transaction represents the largest acquisition of an application security company to date.
Read More: M Financial Group Licenses FAST Software to Enable New Digital Ecosystem for Member Firms
The sale of FMG Suite to Aurora concludes a successful partnership between K1 and FMG Suite. Since becoming the first-and-only institutional investor in the company in 2016, K1 strengthened FMG Suite’s market penetration and completed five strategic acquisitions comprised of Advisor Launchpad, Advisors Assistant, Agency Revolution, MarketingPro and Platinum Advisor Strategies. Today, FMG Suite is the leading all-in-one marketing solution for financial advisors and, through its Agency Revolution brand, insurance agencies.
“We are grateful for our partnership with K1 and the operational expertise they implemented to help invest in and grow the company,” said Scott White, CEO of FMG Suite. “K1 shared our vision to transform marketing automation for financial advisors and insurance agencies to allow them to build their businesses, expand their influence and strengthen customer relationships. The K1 team has been an incredible partner and advisor to FMG Suite as it has grown into the true category leader in the space. We are fortunate to be transitioning to another exceptional partner in Aurora, and look forward to working with them to build on our success and continue to enhance our position as a market leader.”
Read More: Fintech Europe Selects Ten Startups for its Fifth Batch
