ION Investment Group has signed an agreement to acquire trading and risk management solutions company Openlink Financial LLC from Hellman & Friedman. The transaction is subject to customary approvals.
“Openlink’s solutions and expertise are highly complementary to ION’s business,” said Andrea Pignataro, chief executive officer of ION Investment Group. “This acquisition will expand ION’s footprint in energy and financial services. We look forward to partnering with Rich Grossi and his team, and contributing to the firm’s growth and development.”
UBS Investment Bank acted as exclusive financial advisor to ION and provided committed financing in support of the transaction. Linklaters LLP served as legal counsel to ION. Centerview Partners LLC acted as exclusive financial advisor to Openlink. Simpson Thacher & Bartlett LLP served as legal counsel to Hellman & Friedman and Openlink.
“Obtaining the backing of ION marks an exciting opportunity for Openlink Financial, especially after 25 years of industry leadership,” said Rich Grossi, chief executive officer of Openlink. Under ION’s ownership we will continue investing in product innovation to bring market-leading solutions to clients and help address their business challenges.”
