Falfurrias Capital Partners, a Charlotte-based private equity firm, on Tuesday said it has purchased a controlling interest in a Morrisville-based provider of compliance software for the financial services industry.
Falfurrias said the investment in RegEd was part of a plan to create a diversified regulatory compliance and technology firm for financial institutions. That strategy, the firm said, can build on the knowledge and industry contacts of Falfurrias’ co-founders, former Bank of America CEO Hugh McColl Jr. and the bank’s former chief financial officer, Marc Oken.
“With our deep experience and contacts in the financial services industry, Falfurrias is uniquely positioned to deliver the additional resources RegEd’s outstanding management team needs to grow its already strong brand,” Oken said in a statement.
Founded in 1994, RegEd provides compliance education, risk management and licensing services to help companies comply with state, federal and other regulations for broker-dealers and insurance companies.
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SunTrust Robinson Humphrey served as RegEd’s financial advisor. Falfurrias bought the controlling stake from StoneRiver Group.
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