RM Capital, NSP Capital back Miami banking-tech advisor Samaha
What's the deal? RM Capital PartnersDealroom has a profile for this one. Try Dealroom → has partnered with NSP CapitalDealroom has a profile for this one. Try Dealroom → on a growth equity investment in Samaha & Associates, a Miami-based technology and strategic advisory firm serving credit unions and banks. RM Capital led the platform deal, announced September 30. Terms were not disclosed.
What does Samaha do? Founded in 1998, it advises financial institutions on core system conversions, vendor contract negotiations, digital banking rollouts, and merger-related technology integrations. The firm says it has completed over 500 engagements for more than 200 credit union clients, generating over $200 million in negotiated savings since inception.
What's the endgame? RM Capital plans to expand Samaha into new geographies and market segments and add services. "We leverage the Company's unique competitive advantages to enter new geographies and market segments, add innovative services, and strategically grow the organization," said Ruslan Matveyev, managing partner of RM Capital.
Leadership shift: Founder Sabeh Samaha will move to a board seat and hand the chief executive role to Adam Denbo, who joined the firm in 2011 and brings nearly 30 years of credit union experience.
Why now? Samaha framed the deal around a wave of technology change in banking. "Our industry is navigating a period of unprecedented technology transformation," Sabeh Samaha said, adding that RM Capital's backing helps the firm "provide tailored technology guidance" to more institutions.
Who's supporting? NSP Capital is backing RM Capital as a capital and operational partner. "Our mission is to sit firmly in the supporting cast for high-caliber independent sponsors," said Stephan Schneck, a partner at NSP.
The signal: Investor interest in the plumbing of financial services continues, with advisory firms that guide banks and credit unions through system upgrades drawing growth capital as institutions modernize their technology stacks.
Read more: morningstar.com
Image credit: ITU Pictures
