Smith & Williamson advises on sale of Colmore to Preqin

Bristol-based professionals at Smith & Williamson, which is part of wealth management and professional services firm Tilney Smith & Williamson, have advised on the sale of technology business Colmore to Preqin.

Birmingham-based Colmore is a private markets technology, services and administration business while Preqin, based in London, is a leading provider of alternative assets data.

Marcus Graham and Claire Eggels, of Smith & Williamson’s transaction services team, provided vendor due diligence services on the transaction, which will bring together Colmore’s administration, monitoring and fee validation services and Preqin’s global private markets data.

The deal comes at a time when a growing number of institutional investors are looking to the private markets and demanding cutting-edge technology, data and integrated accounting and administration services.

Colmore’s key solutions include portfolio monitoring, analytics, fee tracking and validation, and fund administration services. The rapidly growing business monitors more than 3,000 private market funds and more than 40,000 holdings.

Harry Pepper, chief financial officer of Colmore, said: “Smith & Williamson’s transaction services team produced insightful analysis that displayed an impressive grasp of Colmore’s business model and communicated key points clearly. Their work was a valuable part of a successful deal process.”

Marcus Graham, who is head of Smith & Williamson’s transaction services team in Bristol, said: “Smith & Williamson continues to grow its reputation as a leading provider of financial due diligence to the private equity, banking and corporate communities. We are delighted to have assisted on this transaction – it was another example of a deal where our vendor due diligence analysis has helped to streamline the diligence process.”