Foreside Financial Group, LLC, provider of governance, risk management, and compliance (GRC) solutions and tech offerings to customers in the global asset and wealth management sector, has reportedly acquired Hardin Compliance Consulting, LLC.
The combined entity has now established one of the largest compliance consulting companies for financial services sector in the US, the announcement noted.
Headquartered in Wexford, Pa., Hardin Compliance is a well-known compliance consultancy with global presence serving over 100 clients. Since its launch back in 2006, the company has been focused on offering customized regulatory compliance solutions and aims to complement and grow Foreside’s service offering in this key segment.
Foreside will be adding all of the 30+ Hardin workers to its team.
David Whitaker, President at Foreside, stated:
“We’re thrilled to bring on a firm of Hardin’s caliber that shares Foreside’s passion for building cultures of effective compliance with our clients. Not only does it support our overall growth strategy and improve our market position, but it also allows us the ability to scale responsibly to maintain our unparalleled standards in client service.”
Matthew S. Hardin, President and CEO at Hardin Compliance, remarked:
“Foreside is a good fit culturally, and we feel confident that our clients and employees will be treated well. This combination of Hardin and Foreside brings together two best-in-class providers of compliance services to financial organizations.”
As Foreside remains focused on its steady momentum of growth, this notably marks the firm’s eight acquisition since 2019. Foreside, which is majority-owned by PE firm Lovell Minnick Partners, has already acquired: (i) Golden Bear Consulting Group, a boutique regulatory compliance consulting company focused on alternative asset managements (in June 2021); (ii) JG Advisory Services, a full-stack regulatory solutions provider for hedge and private equity funds (in March 2021); (iii) Capital Markets Compliance, an established compliance, consulting, and FINOP practice (in January 2021).
Foreside has also acquired: (iv) ICSGroup, a regulatory compliance services company currently serving the asset management sector (in November 2020); (v) Quasar Distributors, U.S. Bancorp’s mutual fund and exchange-traded funds (ETFs) distribution business (in March 2020); (vi) Compliance Advisory Services, a regional compliance firm (in October 2019); and (vii) NCS Regulatory Compliance, an established provider of outsourced compliance and regulatory services (in January 2019).
The financial terms of this current transaction have not been shared publicly.