Genstar buys Lovell Minnick’s stake in Foreside

The Portland, Maine-based tech firm provides governance and risk management solutions to clients in the asset and wealth management industries.

Private-equity firm Genstar Capital has acquired the majority stake in Foreside Financial Group held by Lovell Minnick Partners. Terms of the acquisition, scheduled to close before the end of the quarter, were not disclosed.

Foreside, based in Portland, Maine, provides tech solutions in the areas of distribution and governance, risk management and compliance to clients in the asset and wealth management industries.

The company is led by Richard Berthy and David Whitaker, who will remain shareholders and continue in their current management roles, the company said in a release.

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