Justin Wheatley
Encyclopedia
Justin Wheatley set up the StatPro Group
in 1994 having established himself in the software and data
solutions industry. In 1991, Wheatley set up a Micropal branch in Switzerland
that distributed Micropal products. Two years later he wrote the first version of TAP
which filled a previous gap in the market for such a product.
The same year that StatPro was founded, Wheatley took over the French Micropal agency through acquiring Micropal France SA. The company, which had been relatively unsuccessful, increased its annual turnover fourfold in the subsequent four year period. This agency was sold to S&P for just under £2 million, which was put towards the financing of StatPro's international growth.
In May 2000, he took StatPro to IPO, which raised over £5 million.
Six years later, he was looking to expand StatPro's international operations through acquisition
on top of its organic growth
. This began in April 2006 with the takeover of ALPHAI, a leading Australian performance measurement
software business. In October of the same year, it was announced that StatPro was proposing to acquire the investment management
solutions company FRI Corporation that was based in Canada
. This acquisition of the securities information services, asset management and wealth and trading management software solutions provider required an aggregate consideration of CDN$53 million or £25 million. Wheatley commented at the time on the transaction, "The acquisition continues our stated strategy to grow by acquiring new products and investing in such products for growth, rather than developing products from inception."
StatPro Group
StatPro Group Plc is a provider of asset valuation services and portfolio analysis solutions for the global asset management industry. Set up in 1994 by Chief Executive Justin Wheatley, the company's investment products stem from specialisation in financial data and analysis solutions for risk...
in 1994 having established himself in the software and data
Data
The term data refers to qualitative or quantitative attributes of a variable or set of variables. Data are typically the results of measurements and can be the basis of graphs, images, or observations of a set of variables. Data are often viewed as the lowest level of abstraction from which...
solutions industry. In 1991, Wheatley set up a Micropal branch in Switzerland
Switzerland
Switzerland name of one of the Swiss cantons. ; ; ; or ), in its full name the Swiss Confederation , is a federal republic consisting of 26 cantons, with Bern as the seat of the federal authorities. The country is situated in Western Europe,Or Central Europe depending on the definition....
that distributed Micropal products. Two years later he wrote the first version of TAP
TAP
-Mechanical and electrical:* Tap , a device for controlling the release of a liquid or gas* Tap , part of an electrical device* A cutting tool, part of a tap and die set-Entertainment:* Tap dance...
which filled a previous gap in the market for such a product.
The same year that StatPro was founded, Wheatley took over the French Micropal agency through acquiring Micropal France SA. The company, which had been relatively unsuccessful, increased its annual turnover fourfold in the subsequent four year period. This agency was sold to S&P for just under £2 million, which was put towards the financing of StatPro's international growth.
In May 2000, he took StatPro to IPO, which raised over £5 million.
Six years later, he was looking to expand StatPro's international operations through acquisition
Mergers and acquisitions
Mergers and acquisitions refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling, dividing and combining of different companies and similar entities that can help an enterprise grow rapidly in its sector or location of origin, or a new field or...
on top of its organic growth
Organic growth
In finance, organic growth is the process of businesses expansion due to increasing overall customer base, increased output per customer or representative, new sales, or any combination of the above, as opposed to mergers and acquisitions that are examples of inorganic growth. Typically, the...
. This began in April 2006 with the takeover of ALPHAI, a leading Australian performance measurement
Performance Measurement
Performance measurement with a process is the complement to process execution. Based on measured performance, the feedback control loop may be closed. The metrics to assess performance is set according to a determined econometric model...
software business. In October of the same year, it was announced that StatPro was proposing to acquire the investment management
Investment management
Investment management is the professional management of various securities and assets in order to meet specified investment goals for the benefit of the investors...
solutions company FRI Corporation that was based in Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
. This acquisition of the securities information services, asset management and wealth and trading management software solutions provider required an aggregate consideration of CDN$53 million or £25 million. Wheatley commented at the time on the transaction, "The acquisition continues our stated strategy to grow by acquiring new products and investing in such products for growth, rather than developing products from inception."