(9 February 2006 – USA) Foreign exchange outfit Custom House has received a “substantial equity investment” which it will use to aggressively grow the business in its home market in North America and overseas.The new slab of equity was put into the company by Boston based investment firm Great Hills Partners, which currently has more than US$1.2 billion of assets under management.
“This equity investment will provide Custom House with the resources to accelerate our geographic expansion and fund acquisitions,” Custom House president and CEO Peter Gustavson said.
He said the company would continue to grow its presence in North America, Europe and Asia Pacific.
Custom House opened new offices in Singapore and Italy in 2005 and expanded its operations in North America.
Great Hill partner Mark Taber said his firm said Custom House had the ideal platform of strong management, significant recurring revenue and a defensible business model in an international growth market.