Foreside Financial Group has acquired Hardin Compliance Consulting to create one of the largest compliance consulting firms for the US financial services industry.
Financial terms of the deal have not been revealed.
Pennsylvania-based Hardin Compliance provides customised regulatory compliance services to more than 100 clients across the US.
Foreside offers governance, risk management, and compliance (GRC) solutions and technology offerings to clients in the global asset and wealth management industry.
The deal adds Hardin’s team of more than 30 employees to Foreside and is expected to bolster its existing service offering in Pennsylvania.
Foreside president David Whitaker said: “We’re thrilled to bring on a firm of Hardin’s caliber that shares Foreside’s passion for building cultures of effective compliance with our clients.
“Not only does it support our overall growth strategy and improve our market position, but it also allows us the ability to scale responsibly to maintain our unparalleled standards in client service.”
Hardin Compliance president and CEO Matthew Hardin added that the deal ‘brings together two best-in-class providers of compliance services to financial organisations’.
Hardin said: “Foreside is a good fit culturally, and we feel confident that our clients and employees will be treated well.”
Foreside’s evolving acquisition spree
The latest deal marks Foreside’s eighth acquisition since 2019.
The firm, majority-owned by PE firm Lovell Minnick, purchased compliance consulting practice of Golden Bear Consulting Group earlier this month.
In January this year, it revealed plans to buy compliance, consulting, and FINOP practice Capital Markets Compliance.
Other acquisitions by the company include NCS Regulatory Compliance, Compliance Advisory Services, ICSGroup, Capital Markets Compliance, Quasar Distributors, and JG Advisory Services.