Parthenon Capital Partners and M2 Group Holdings have partnered with John Moody, the Co-founder and former President of Matrix Financial Solutions, to acquire and build a new financial technology services company in the retirement plan, bank trust and wealth management sectors.
Mr. Moody has more than 30 years of experience with financial services companies and he founded and built Matrix into one of the leading custodian and mutual fund trading providers in the industry. In 2011, Matrix was sold to Broadridge Financial Solutions (NYSE: BR) and Mr. Moody remained with the company until exiting it earlier this year. “The opportunity to continue to drive innovation in technology enabled administration has never been better given the changing regulatory framework,” said Mr. Moody. “Moreover, we are pursuing this opportunity at a time of critical importance for Americans to invest and save in smarter and more cost efficient ways.”
Parthenon invests in middle market companies with enterprise values of $35 million to $500 million that are active in financial services, healthcare services and business services. The firm was founded in 1998 and has 23 investment professionals. Parthenon has offices in Boston and San Francisco (www.parthenoncapitalpartners.com).
“This partnership complements Parthenon’s longstanding industry effort in asset management technology,” said Brian Golson, Managing Partner and Co-CEO of Parthenon Capital. “After 10 years of looking for ways to work together, we’re pleased to have the opportunity to collaborate with John. He’s a talented and experienced leader with an outstanding vision for the sector.”
Parthenon is joined in this investment by M2, a newly formed operating company focused on financial services. The principals of M2 and Parthenon have worked together for more than 10 years.
© 2017 Private Equity Professional | March 21, 2017
