Genstar Capital Acquires Majority Stake in Docupace
FTV Capita, which invested in the back-office software maker in 2020, will remain a minority investor.
Back-office software maker Docupace says Genstar Capital has made a majority investment in the firm for an undisclosed sum. FTV Capita, which invested in Docupace in 2020, will remain a minority investor.
“We are excited to welcome Genstar as a strategic investor as we further improve the operational experience for clients, financial advisors, their staff, and home office team members,” said Docupace CEO David Knoch, in a statement.
The Homdel, New Jersey-based firm made two acquisitions in 2021 that expanded its work into compensation, compliance and digital client data gathering. Today, Docupace software is used daily by independent broker-dealers and RIAs to open close to 10,000 new client accounts and process over 130,000 electronic documents, according to the firm.
“We’ve been following Docupace’s transformation for several years, and we are proud to partner with Docupace and its management team on the next chapter of growth,” said Sid Ramakrishnan, a director of Genstar Capital, in a statement.
Genstar Capital has also taken stakes in Cetera, Mercer Advisors and Orion.
(Pictured: David Knoch)