Aquiline makes LeaseCrunch investment - Private Equity Wire
Summary
Aquiline Capital Partners, a $10bn private investment firm focused on financial services and related technologies, has made a significant investment in LeaseCrunch, a provider of accounting and lease management software.LeaseCrunch aims to optimise lease accounting processes for Certified Public Accountant (CPA) firms by automating calculations and the required deliverables. The solution allows firms to streamline operations, save time, reduce errors, lower costs and simplify compliance with the new lease accounting standards. Through its dual access capabilities, LeaseCrunch enables CPA firms to work independently or collaboratively with their clients.Founded by a team of former CPAs and accounting auditors in 2016, LeaseCrunch has grown to support over 600 CPA firms, including many of the largest in the US. Following the investment from Aquiline, LeaseCrunch will continue to scale the business through organic growth by expanding its product offering and capabilities to better serve its existing customer base and will pursue M&A opportunities to add further capabilities in line with customer demand.Marks Baughan served as the exclusive sell-side advisor to LeaseCrunch in the transaction. Additional financial details of the transaction were not disclosed.
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