Vespa Capital completes sale of Origo to iPipeline
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- Vespa Capital Completes Sale Of Origo To Ipipeline
Vespa Capital has completed the sale of Origo, the leading provider of critical infrastructure software to the UK pensions and lifetime savings industry, to iPipeline, part of Roper Technologies, Inc. (Nasdaq: ROP).
Origo provides mission-critical SaaS technology that connects platforms, pension and investment providers, financial advisers and consumers across the UK savings market. Through its Origo and Unipass brands, the business has developed a range of technology solutions that help improve connectivity, efficiency and data exchange across the industry.
Origo is also the architect and technology developer behind the UK Pensions Dashboard Programme, the largest pensions technology project ever undertaken by the UK Government which will give every citizen visibility of their State, workplace and personal pension savings.
Vespa Capital invested in Origo in May 2022, backing the management team to accelerate the development of the business and build on its position as a trusted technology provider to the industry.
During Vespa Capital’s ownership, revenue and EBITDA grew substantially, supported by significant investment across product, commercial and finance capabilities. The appointment of a Chief Product Officer accelerated product development, creating a broad pipeline of new propositions, including Origo Asset Migration. Vespa Capital and the management team also strengthened Origo’s sales and marketing capabilities, including the introduction of digital account-based marketing, and appointed a CFO to build a strategic, data-led finance function.
Roper Technologies is a constituent of the Nasdaq 100, S&P 500, and Fortune 500 indices. Roper has a successful history of acquiring and operating well-run technology companies in niche markets that have strong, sustainable growth potential. In 2019, Roper acquired iPipeline, a leading provider of cloud-based software solutions for the life insurance and financial services industry.
Together, iPipeline and Origo will continue investing in technology that connects people, processes and information, helping organisations navigate complexity and prepare for the future of financial services. The Origo brand will continue as an iPipeline company.
Khidhr Shafiq, partner at Vespa Capital, commented “It has been a pleasure to partner with Anthony and the Origo team. Origo holds a unique position in the pensions and lifetime savings industry as the trusted provider of its critical infrastructure.
During our four-year partnership the business has launched three rapidly growing SaaS solutions, delivered over six million pension transfers and grown EBITDA more than sevenfold.
Origo is exactly the kind of niche market leader Vespa Capital looks to back: strongly positioned, exceptionally led, with real room to grow.”
Anthony Rafferty, CEO at Origo, added “The last four years working with Khidhr and the team at Vespa Capital have been the most successful and enjoyable of my career. They've been fantastic partners, and I'm deeply grateful for the support, guidance and ambition they've brought to the business.
In iPipeline, we've found a partner that shares our vision of connected financial services. Together, we'll be able to do even more for our customers. I'm also hugely grateful to the whole team at Origo for their hard work and dedication in getting us to this point.”
Advisers to Origo and Vespa Capital on the transaction included GP Bullhound, DLA Piper, Oliver Wyman, EY and SeedCloud.