June 29, 2012
360T Group Announces Closing of Summit Partners’ Investment
FRANKFURT AM MAIN, GERMANY and LONDON, UK—360T Group, the leading independent global provider of a multi-bank, multi-asset trading platform, today announced the final closing of a growth equity investment made by Summit Partners.
Summit Partners has acquired a majority stake in 360T from various shareholders including Brockhaus Private Equity, a German independent private equity firm focusing on mid-cap German technology leaders, and the firm’s management. Brockhaus retains a small position and 360T’s management will be the second largest shareholder after Summit Partners.
Han Sikkens, a Managing Director of Summit Partners, said “360T exemplifies the very type of company that Summit Partners seeks for its investment: a rapidly growing, highly scalable business run by an exceptional management team. We see 360T as a truly global company that brings together financial markets, technology leadership and committed personnel.” Added Scott Collins, also a Managing Director of Summit Partners, “We are committed to supporting 360T’s growth strategy both in FX and other adjacent financial markets, and we welcome the company’s employees retaining a significant stake as part of the transaction.”
Summit Partners is partnering with the existing management team and 360T’s founder, Carlo Kölzer, who remains a significant shareholder in the company. “We are very pleased that Summit Partners, a leading global financial technology investor, has chosen to invest in 360T,” said Kölzer. “The reorganization of the shareholder structure and the participation of a leading American growth equity fund is exactly the right step for 360T as we take the company to the next level.”
Founded by CEO Carlo Kölzer and Mathew Kuppe in 2000, 360T provides web-based trading technology for OTC financial instruments, particularly currency exchange, short-term money market loan/deposits and interest rate derivatives. 360T´s secure, smart global transaction network enables clients to trade with greater transparency and enhanced control at every stage of the trading lifecycle.
The company also offers a hosted white-label trading technology that enables organizations to provide internal electronic trading services on a proprietary branded platform.
More than 100 global and regional market makers connect to 360T´s bank-independent trading platform, securing global liquidity delivered with the latest execution features and seamless processing. 360T´s buy-side clients include national and multinational corporate treasuries, institutional clients such as asset managers, broker/dealers and banks. The company is regulated by BaFin.
About 360T Group
360T Group (www.360t.com), based in Frankfurt, Germany, is the leading independent global provider of web-based trading technology for OTC financial instruments, particularly currency exchange, short-term money market loans/deposits and interest rate derivatives. Based on its proprietary core technology, 360T’s multi-bank platform provides deep liquidity of more than 100 global and regional market makers used by over 1000 client organizations worldwide. The company also offers a professional white-label trading technology for electronic trading services to a closed group of users on a proprietary branded platform. 360T Group has a global presence with customers in more than 45 countries and offices in America, Asia-Pacific and the Middle East.
About Summit Partners
Summit Partners (www.summitpartners.com) is a growth equity firm that invests in rapidly growing companies. Founded in 1984, Summit has raised more than $14 billion in capital and has offices in Boston, London, Palo Alto and Mumbai. Summit seeks outstanding management teams that have built their companies to market leadership, and provides equity and credit for growth, recapitalizations and management buyouts. Notable financial technology and services companies financed by Summit Partners include Acturis Limited, Clearwater Analytics, FleetCor Technologies, Flow Traders, Multifonds, Ogone, optionsXpress and Salient Partners.
In the United States of America, Summit Partners operates as an SEC-registered investment advisor. In the United Kingdom, this document is issued by Summit Partners Limited, a firm authorized and regulated by the Financial Services Authority. Summit Partners Limited is a limited company registered in England and Wales with company number 4141197, and its registered office is at 20–22 Bedford Row, London, WC1R 4JS, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.