Allshares solidifies Nordic leadership with the acquisition of Aktieinvest Incentives

May 15, 2024

London, UK – Bregal Milestone, a leading European technology and software private equity firm, is pleased to announce the acquisition of Aktieinvest Incentives by its portfolio company, Allshares, a pioneering compensation and long-term incentive software and services provider. Following Allshares’ recent acquisition of Novare Pay, the strategic addition of Aktieinvest Incentives further establishes the company at the forefront of providing comprehensive compensation and incentive solutions in Sweden.

Aktieinvest Incentives is a leading provider of share plan and equity incentive administration to business customers in Sweden. Following the acquisition, Aktieinvest Incentives will fully integrate with Allshares’ state-of-the-art equity plan administration platform. Current Aktieinvest Incentives customers can expect uninterrupted service and will benefit from Allshares’ exceptional client support and end-to-end solutions, including expanded offerings like tax services and IFRS reporting.

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In a statement from Louise Hagsten, CEO of Aktieinvest Incentives, the decision to integrate with Allshares was underscored by its unmatched holistic software and services offering.

"Our partnership with Allshares heralds a new era of innovation and client-centricity for Aktieinvest Incentives customers. We were drawn to Allshares' commitment to excellence and their robust equity plan administration product suite which includes tax and IFRS reporting capabilities. We are confident that joining forces with Allshares will translate to an enhanced digital participant experience for Aktieinvest Incentives’ customers."

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Erika Andersson, former CEO of Novare Pay and recently appointed CEO of Allshares Sweden, stated,

“The reception of Allshares by Novare Pay customers and the broader Swedish market has been overwhelmingly positive. I am confident that Aktieinvest Incentives’ customers will have a similar experience, thanks to Allshares’ customer-centric and innovative approach to compensation solutions. The Allshares proposition stands out in the market, and I am eager to maintain our long standing relationship with Aktieinvest Incentives’ customers. With Allshares, we can offer an enhanced equity plan administration proposition, further improving our ability to serve customers effectively.”

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Pertti Helaniemi, CEO of Allshares Finland, highlighted the continuity and seamless experience that customers can expect from the addition of Aktieinvest Incentives to the Allshares ecosystem.

"At Allshares, we are dedicated to maintaining high standards of service and innovation. In addition to Allshares’ comprehensive equity plan administration platform, our Pay Incentives, Pay Governance and Pay Analytics service offerings mean clients can expect a seamless one-stop experience for all their compensation needs."

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John Hales, Managing Director at Bregal Milestone, reiterated the company's vision and the integral role that Aktieinvest Incentives plays in achieving it.

"At Allshares, the vision is to deliver leading compensation solutions that drive high performance for both private and publicly listed customers throughout Europe. The acquisition of Aktieinvest Incentives is a testament to our commitment to this vision, as it strengthens our position as a leader in the Nordic region and reinforces our ability to deliver exceptional value to leading companies. We are thrilled to welcome Aktieinvest Incentives to the Allshares family and look forward to leveraging our combined strengths to deliver distinctive compensation solutions." 

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Terms of the transaction were not disclosed and are subject to customary closing conditions.

 

About Bregal Milestone

Bregal Milestone is a leading European software and technology private equity firm with c.€1.3 billion of capital raised since inception. The firm provides growth capital and operational support to build market-leading technology companies. Bregal Milestone is part of Bregal Investments, a leading global investment platform with assets under management of over €18 billion. Bregal Milestone was recognised by GrowthCap as one of the Top Growth Equity Firms of 2023. For more information, visit www.bregalmilestone.com or follow us on LinkedIn.

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About Allshares

Allshares is a pioneering provider of compensation and incentive solutions in Europe. Trusted by leading multinational enterprises, Allshares will now serve approximately 900 clients in more than 60 countries with an end-to-end digital turnkey solution for equity plan management. Companies and participants can use its proprietary software and services to administer share plans in full compliance with relevant regulations, legal, and tax frameworks, as well as deliver seamless and automated IFRS reporting of share plans to companies. For more information, visit www.allshares.com

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About Aktieinvest

Aktieinvest Incentives is a part of Aktieinvest. Aktieinvest, among Sweden's oldest online brokers, boasts a 50-year legacy and 60,000 customers. Aktieinvest offers monthly share savings, dividend reinvestment, and handles corporate events, essentially simplifying stock investment. With a workforce of around 40, and a customer-centric approach, Aktieinvest has consistently sought to modernize and enhance its offerings, ensuring that clients can seamlessly save and invest in both Swedish and foreign stocks, funds, and ETFs. Since June 2023, Aktieinvest has been under the ownership of Söderberg & Partners, a prominent financial advisor and intermediary in the Nordic region. For more information, visit www.allshares.com

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Contact:

Jillian Hazelton

Head of Marketing & Communications

Jillian.hazelton@bregal.com

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LLPMIFIDPRU 8 Disclosure
April 2024

Introduction

The Financial Conduct Authority (“FCA” or “regulator”) in the Prudential sourcebook for MiFID Investment Firms in the FCA Handbook (“MIFIDPRU”) sets out the detailed prudential requirements that apply to Bregal Milestone LLP, (“Bregal” or the “Firm”). Chapter 8 of MIFIDPRU (“MIFIDPRU 8”) sets out public disclosure rules and guidance with which the Firm must comply, further to those prudential requirements.

Bregal is classified under MIFIDPRU as a small and non-interconnected MIFIDPRU investment firm (“SNI MIFIDPRU Investment Firm”). As such, the Firm is required by MIFIDPRU 8 to disclose information regarding its remuneration policy and practices.

The purpose of these disclosures is to give stakeholders and market participants an insight into the Firm’s culture and to assist stakeholders in making more informed decisions about their relationship with the Firm.

This document has been prepared by Bregal in accordance with the requirements of MIFIDPRU 8 and is verified by the Board. Unless otherwise stated, all figures are as at the Firm’s 31 December financial year-end.

Remuneration Policy and Practices

Overview

As an SNI MIFIDPRU Investment Firm, Bregal is subject to the basic requirements of the MIFIDPRU Remuneration Code (as laid down in Chapter 19G of the Senior management arrangements, Systems and Controls sourcebook in the FCA Handbook (“SYSC”)). The purpose of the remuneration requirements is to:

  • Promote effective risk management in the long-term interests of the Firm and its clients;
  • Ensure alignment between risk and individual reward;
  • Support positive behaviours and healthy firm cultures; and
  • Discourage behaviours that can lead to misconduct and poor customer outcomes.

The objective of Bregal’s remuneration policies and practices is to establish, implement and maintain a culture that is consistent with, and promotes, sound and effective risk management and does not encourage risk-taking which is inconsistent with the risk profile of the Firm and the services that it provides to its clients.

In addition, Bregal recognises that remuneration is a key component in how the Firm attracts, motivates, and retains quality staff and sustains consistently high levels of performance, productivity, and results. As such, the Firm’s remuneration philosophy is also grounded in the belief that its people are the most important asset and provide its greatest competitive advantage.

The Firm is committed to excellence, teamwork, ethical behaviour, and the pursuit of exceptional outcomes for its clients. From a remuneration perspective, this means that performance is determined through the assessment of various factors that relate to these values, and by making considered and informed decisions that reward effort, attitude, and results.

Characteristics of the Firm’s Remuneration Policy and Practices

Remuneration at Bregal is made up of fixed and variable components. The fixed component is set in line with market competitiveness at a level to attract and retain skilled staff. Variable remuneration is paid on a discretionary basis and takes into consideration the Firm’s financial performance as well as the financial performance of each business unit, and the financial and non-financial performance of the individual in contributing to the Firm’s success. All staff members are eligible to receive variable remuneration.

The fixed and variable components of remuneration are appropriately balanced: the fixed component represents a sufficiently high proportion of the total remuneration to enable the operation of a fully flexible policy on variable remuneration. This allows for the possibility of paying no variable remuneration component, which the Firm would do in certain situations, such as where the Firm’s profitability performance is constrained, or where there is a risk that the Firm may not be able to meet its capital or liquidity regulatory requirements.

Governance and Oversight

The Board is responsible for setting and overseeing the implementation of Bregal’s remuneration policy and practices. In order to fulfil its responsibilities, the Firm’s senior management:

  • Is appropriately staffed to enable it to exercise competent and independent judgment on remuneration policies and practices and the incentives created for managing risk, capital, and liquidity.
  • Prepares decisions regarding remuneration, including decisions that have implications for the risk and risk management of the Firm.
  • Ensures that the Firm’s remuneration policy and practices take into account the public interest and the long-term interests of shareholders, investors, and other stakeholders in the Firm.
  • Ensures that the overall remuneration policy is consistent with the business strategy, objectives, values, and interests of the Firm and of its clients.

The Firm’s remuneration policy and practices are reviewed annually by the Firm’s senior management.

Quantitative Remuneration Disclosure

For the financial year 1 January to 31 December 2023, the total amount of remuneration awarded to all staff was £8,002,731 of which £5,121,421 comprised the fixed component of remuneration, and £2,881,310 comprised the variable component. For these purposes, ‘staff’ is defined broadly, and includes, for example, employees of the Firm itself, partners or members, employees of other entities in the Bregal Group and secondees.

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