Kester Capital Adds Gambling Compliance Owner to Investment Portfolio

Buy-out specialist Kester Capital has backed the management buy-out of provider of global gambling and payments regulatory intelligence ComplianceOnline, news emerged today.

ComplianceOnline is known to be the owner of Gambling Compliance and Payments Compliance, which provide in-depth insight, analysis, research and commentary on topics related to the growth and development of the sectors they cover.

ComplianceOnline was established in 2007 with the launch of its Gambling Compliance website. The website provides subscription-based information services that have grown exponentially over the years, taking advantage of the rapid pace of growth of the global gambling industry.

In 2015, ComplianceOnline expanded its operations by launching its Payments Compliance website. The new operation has been providing important insight into the payments industry, providing compliance and legal teams with know-how to manage risk with confidence and take advantage of the new opportunities the market presents.

In a statement issued earlier today, ComplianceOnline said that its partnership with Kester would enable it to fuel its growth plans and continue to help industry representatives make informed strategic decisions for their businesses.

Today’s announcement comes at a busy time for Kester, which recently added new members to its investment team and closed its third portfolio bolt-on acquisition within the past year. As mentioned earlier, Kester is a buy-out specialist that focuses on UK businesses that need capital to unlock their full potential.

Founder and Executive Chair to Step Down

The transaction will see ComplianceOnline’s founder and Executive Chair, David Morgan, step down from his post. Mike Woolfrey, who was appointed as CEO of the business last year, will retain his role at the helm. Prior to joining the ComplianceOnline team, Mr. Woolfrey had held a number of senior executive roles within the B2B media and information sectors.

Commenting on today’s announcement and his departure, Mr. Morgan said he has been proud to lead ComplianceOnline to this point and that he is delighted to hand over the business to Mr. Woolfrey who, through his experience and expertise, will lead ComplianceOnline to its next chapter of growth.

Mr. Woolfrey added that the deal is an “important and significant milestone” for ComplianceOnline, as the organization has huge growth potential.

Kester Capital Managing Partner Adam Maidment said of the deal that they are delighted to invest in ComplianceOnline. He added that the organization’s “ambition, management talent and potential for continued strong growth make ComplianceOnline a great example of the type of business that we are looking to back with first time institutional capital and support.”

Aside from ComplianceOnline, Kester has also invested in Travel Entertainment Group, a leading content service provider of in-flight entertainment services; CETA Insurance – provider of personal and commercial insurance distribution; and Jollyes Retail Group Limited, known to be the UK’s second largest pet retailer with more than 70 retail park superstores around the country, among other businesses.

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