FFL Partners invests in IT outsourcing firm Abacus
Private equity firm FFL Partners recently completed a strategic growth investment to financial services IT outsourcing firm AbacusGroup.
Founded in 2008, Abacus manages its client’s entire IT stack via a tech-enabled streamlined offering specially designed for the unique needs of the financial services industry. The firm’s Abacus Cloud platform allows investment managers to source all tech services, allowing them to scale on-demand and meet current and future IT, cybersecurity, and compliance requirements.
FFL Director Jonathan Bunt said that out of 25 managed service providers (MSPs) that they have observed, Abacus stood out “due to the strength of its management team, leading cloud platform, and service approach….”
Meanwhile, Abacus Founder and CEO Chris Grandi stated that he is “confident that the resources, business acumen, and energy the FFL team brings makes them the ideal partner for Abacus as we enter our next chapter of growth.”
Abacus’ financial services IT MSP market is estimated to be over $4 billion and is projected to grow as much as 15% through 2025. It employs over 250 professionals and serves more than 650 clients with on-site support teams in every major financial city across the United States (US) and the United Kingdom (UK).
FFL’s deal with Abacus marks the third IT services investment, following IT & Life Sciences specialized consulting firm ALKU and team augmentation and IT outsourcing services provider Optomi Professional Services
