PARIS (Agefi-Dow Jones)–The investment company Wendel announced on Monday that it has signed an agreement to acquire 99% of the capital of the Association of Certified Anti-Money Laundering Specialists (ACAMS), an organization American dedicated to the fight against financial crime.
The transaction will be carried out on the basis of an equity investment which could amount to up to 355 million dollars, or approximately 314 million euros. The transaction values the company, including debt, at approximately $500 million.
“The completion of this transaction is expected to take place in the first half of 2022, subject to compliance with customary conditions and obtaining regulatory approvals,” Wendel said in a statement.
During the financial year ended at the end of September 2021, ACAMS achieved a turnover of 83 million dollars and a gross operating surplus of 18 million dollars, estimated on the basis of independent operational management and calculated according to the usual methodology. by Wendel.
“This is an acquisition in line with our roadmap in terms of size, sector, and growth profile,” said Wendel’s chief financial officer, Jérôme Michiels, during a conference call.
This acquisition strengthens Wendel’s presence in the “structurally growing” certification market, alongside its group holdings in Bureau Veritas and Crisis Prevention Institute (CPI). ACAMS has recorded organic growth close to 10% in recent years and a gross operating surplus (EBITDA) margin rate of around 20%, he added.
The company has developed a global network of more than 90,000 members, 50,000 of whom hold certification in the areas of anti-money laundering and financial crime prevention. ACAMS certification must be regularly updated, requiring annual continuing education modules, including webinars and conferences.
ACAMS employs 275 people, mainly in the United States, London and Hong Kong.
-François Schott and Dimitri Delmond, Agefi-Dow Jones; +33 (0)1 41 27 47 92; [email protected] ed: VLV – ECH
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January 24, 2022 12:57 ET (17:57 GMT)