31 July 2024
Sycomore is pleased to announce that TA Associates, a leading global private equity firm, acquired Harvest, a leading provider of SaaS platform for Wealth Management, alongside Montagu, a leading mid-market private equity firm.
Harvest (“the Company”) is the largest pure-play front-office Wealth Management SaaS platform provider in Europe. The Company offers mission-critical software platforms covering the entire customer journey from prospecting, onboarding, compliance, advice, tax, to distribution.
The Company has established and undisputed market leading positions in France with emerging footprint in Italy and Luxembourg, and benefits from significant barriers to entry associated with financial institutions’ reputational, regulatory, scalability and cybersecurity requirements.
Harvest is a trusted partner to its numerous blue-chip clients, serving the largest banks, insurers, asset managers and IFAs, for which wealth management is a profitable and priority segment.
The Company has a proven track record of consistent double-digit organic growth, accelerated by international expansion and supplemented by M&A, combined with an attractive SaaS margin profile.
This transaction will enable Harvest, with the support of TA Associates and Montagu, to support its growth ambitions, especially internationally. This ambition will be achieved through a combination of organic growth and targeted acquisitions in both existing and new geographies in Europe.
In the context of this Transaction, Sycomore Corporate Finance acted as Financial Advisor to TA Associates. The transaction team comprised Tristan Dupont, Marion Camboulive, Thaddée le Bret and Antoine Chambriard.