NEW YORK, PARIS – JULY 28th, 2020 – Peninsular Capital, an independent investment firm, is pleased to announce the acquisition of NovaSparks™, the leading field programmable gate array (FPGA) market data company, in a Management Buy-Out (MBO) transaction. Founded in 2008, NovaSparks leads the world in FPGA-based high performance and ultra-low latency market data feed handlers for the financial trading industry with support to over 70 feeds among the major equity, futures and options venues across North America, Europe and Asia.
“Peninsular is making an important strategic investment today to realize our objective to expand in the trading solutions market. We’re delighted to partner with NovaSparks CEO Luc Burgun and support his ambitious development plan to consolidate NovaSparks’ award winning technology as the fastest ultra-low latency trading solution on a wide range of financial markets,” said Antoine Brousse, Peninsular Capital’s managing partner.
Thrust by decades of unique expertise in designing hardware-accelerated solutions, NovaSparks’ ticker plants and FPGA-based acceleration trading solutions enable proprietary trading firms, market makers, hedge funds and banks to customize high performance trading platforms with sub microsecond processing latency.
“Partnering with Peninsular Capital has been instrumental to accomplishing our MBO,” stated Luc Burgun, CEO of NovaSparks. “This transaction will help us accelerate our expansion.”
Peninsular Capital was advised by Squareness (Antoine Sudérie) for the financial due diligence and Deprez, Guignot & Associés (Grégoire Guignot) and De Guillenchmidt & Associés (Maxime de Guillenchmidt) for legal due diligence and documentation. NovaSparks was advised by Moisand, Boutin & Associés (Jean-Philippe Jacob and Maud Gendron).
About Peninsular Capital – www.peninsular-capital.com
Peninsular Capital Management is an independent portfolio management company controlled by its investment team and registered with the French Financial Market Authority. It is active on the small cap segment (target companies with sales between €5m and €50m) with a proven investment philosophy that fulfills the specific needs of French SMEs in today’s current economic environment. Peninsular Capital as of July 2020 has invested in 6 portfolio companies including IMAC, a critical maintenance specialist, Lacaux, a leading integrated manufacturer of corrugated cardboard for various applications (sold in 2019), BMS, French leader in the distribution and rental of heavy equipment for special foundations used by the construction industry, Aménagement Malitourne, an interior build-out specialist for corporate clients and Mecalectro, a European leader in the design and manufacturing of electromagnetic actuators for a wide variety of industrial applications.
About NovaSparks – www.novasparks.com
NovaSparks is the leader in FPGA-based high performance and ultra-low latency market data solutions for financial markets trading. NovaSparks unique FPGA centric approach delivers market data, including book building with sub microsecond processing latency, even during market peaks period. This level of performance can be extended to the whole trading cycle. NovaTick™, NovaSparks’ flagship Ticker Plant product, supports 70 feeds across the major Equity, Futures and Options venues in North America, Europe and Asia. The company is headquartered in Paris (France) and has offices in Nantes and New-York city (NY, USA).