Investing.com -- Wolters Kluwer (AS:WLSNc) Financial & Corporate Compliance ( FCC (BME:FCC)) has entered into an agreement to acquire Registered Agent Solutions, Inc. (RASi) for an estimated $415 million in cash. The deal, backed by Lexitas, a legal services provider and funds advised by Apax (HN:IBC) Partners, aims to broaden FCC Legal Services’ (CT Corporation) reach with small businesses, middle-market firms, and law firms across the U.S.
RASi, a Texas-based company established in 2002, serves thousands of clients across all 50 U.S. states and the District of Columbia. With a team of roughly 180 professionals, RASi offers a range of corporate services including business licenses, UCC search and filing, beneficial ownership filing, business formation services, and entity management and compliance solutions.
Catherine Wolfe, Executive Vice President and General Manager of Wolters Kluwer CT Corporation, expressed admiration for RASi’s innovative approach and quality of service. She emphasized both companies’ dedication to providing exceptional solutions to their customers.
Sean Prewitt, President of RASi, also expressed optimism about the merger, stating that the combination of both companies’ capabilities would deliver a differentiated customer experience.
In 2024, RASi reported revenues of approximately $52 million and has consistently demonstrated profitability. A portion of the company’s revenue, like CT Corporation, is transactional. The acquisition is projected to achieve a return on invested capital at or above Wolters Kluwer’s after-tax weighted average cost of capital (8%) in its fifth full year of ownership.
In the short-term, the acquisition is anticipated to have a minimal impact on Wolters Kluwer’s adjusted earnings. The transaction, subject to regulatory approvals and customary closing conditions, is expected to be finalized in the first half of 2025.
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