TrustID: Key Player in Compliance Acquired by The Citation Group
Deal News | Apr 03, 2025 | Cooper Parry
In a significant transaction, Cooper Parry Corporate Finance acted as exclusive advisers for the shareholders of TrustID on its acquisition by The Citation Group. TrustID, a leading UK entity specializing in Right to Work (RtW) and digital identity verification, serves a broad client base exceeding 3,000 businesses across various sectors, facilitating over three million RtW checks annually. This represents a 20% annual growth rate, reflecting TrustID's innovative leadership in the digital compliance space. The acquisition by The Citation Group, an established global player in compliance software for SMEs, is set to solidify its leadership position by integrating TrustID's services including Right to Rent, Know Your Customer (KYC), and Anti-Money Laundering (AML) checks. This strategic move aims to enhance The Citation Group's capacity to address evolving industry demands regarding remote hiring and compliance, promising smarter, faster solutions. Leadership at both TrustID and The Citation Group expressed optimism regarding the synergistic potential of this business consolidation.
Sectors
- Compliance and Regulatory Technology
- Corporate Finance Advisory
- Digital Identity Verification
Geography
- United Kingdom – TrustID is a UK market leader, and Cooper Parry, operating as the financial advisor, is also based in the UK.
- Global – The Citation Group is a global compliance software specialist, signifying the international nature of the acquiring company’s operations.
Industry
- Compliance and Regulatory Technology – The article involves companies dealing in compliance software and digital identity verification services, which are critical to regulatory and compliance sectors.
- Corporate Finance Advisory – Cooper Parry acted as the corporate finance advisor in this transaction, indicating the involvement of corporate finance services.
- Digital Identity Verification – TrustID specializes in digital identity verification services, making this sector relevant to the article.
Financials
- – No specific financial information such as deal price or valuation has been disclosed in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| TrustID | Target Company | Company | A UK market leader in Right to Work and digital identity verification services, acquired by The Citation Group. |
| The Citation Group | Bidding Company | Company | A global compliance software specialist serving SMEs, acquiring TrustID to enhance its compliance solutions. |
| Cooper Parry | Financial Advisor | Company | Advised the shareholders of TrustID on their sale to The Citation Group. |
| Niall Chantrill | Partner, Cooper Parry Corporate Finance | Person | Led the team advising the shareholders of TrustID in the transaction. |
| Matt Hellis | Cooper Parry Corporate Finance | Person | Part of the team that advised TrustID on its sale to The Citation Group. |
| Tony Machin | CEO of TrustID | Person | Commented on the positive impact of joining The Citation Group for TrustID. |