Plenitude Consulting (“Plenitude”), a leading financial crime risk and compliance firm, has announced the acquisition of Contineo Financial Risk Solutions Ltd. (“Contineo”), a provider of specialist Financial Crime Compliance (FCC) technical advisory services.
This strategic investment not only signifies a pivotal moment in Plenitude’s trajectory on the company’s twelve year anniversary, but also marks their first acquisition. It follows the investment from Growth Capital Partners in July 2022 to support the build out of new capabilities and offerings.
Contineo, founded in 2017, provides specialist technical advisory services, including support for FCC technology selection and implementation, Transaction Monitoring, Customer and Transaction Screening tuning, optimisation and independent testing, model validation and data analytics. The firm services clients across the UK, US, Europe and UAE across a broad range of sectors.
The acquisition will support Plenitude’s growth strategy and accelerates the business’ ambition to be the leading specialist tech advisor and implementation partner for innovative AI-enabled FCC technology solutions, deploying machine learning, automation and cutting-edge data analytics, in order to drive more efficient and effective financial crime risk management for their clients.
All of Contineo’s current employees will be retained as part of the deal, boosting Plenitude’s headcount by 20 percent.
Alan Paterson, Founder & CEO at Plenitude said: “Contineo’s reputation and deep technical advisory capability is impressive. The decision to bring the businesses together felt absolutely right from a strategic standpoint, enabling us to meet the evolving needs of our clients and accelerating the build out of our tech advisory and data analytics practice.
Plenitude has grown organically over the last 12 years, and we always wanted to ensure that any company joining the Plenitude journey had a brilliant culture and reputation for first class delivery. We look forward to welcoming all of the Contineo team.”
Munir Merchant, Founder & CEO at Contineo said: “On behalf of the Contineo team we are delighted to be joining forces with Alan, Asad and the rest of the Plenitude team, and excited about the opportunities ahead. Contineo and Plenitude have similar beginnings, a common culture, and complementary advisory capabilities which made joining forces a very compelling proposition. Plenitude’s growth story is impressive, they have a fantastic reputation and we are excited to leverage all of the benefits that come from the wider group and capabilities they offer.
We are looking forward to delivering on the ambition to be the leading specialist tech advisor and implementation partner for innovative AI-enabled FCC technology solutions.”
Jay Salter, Investment Director at Growth Capital Partners said: “I’m delighted to see Contineo joining forces with us at Plenitude and believe this is a highly strategic acquisition and an outstanding opportunity for growth. Contineo’s specialist technology led advisory skills perfectly complement Plenitude’s subject matter expertise and transformation services to deliver highly valuable business outcomes for a client base with ever-growing FCC needs. We look forward to working closely with Munir and the team to continue Plenitude’s growth journey.”
