M&A Deal Summary

IQ-EQ Acquires South Watch

On May 20, 2025, IQ-EQ acquired financial services company South Watch from Everlane Equity Partners

Acquisition Highlights
  • This is IQ-EQ’s 1st transaction in the Financial Services sector.
  • This is IQ-EQ’s 3rd transaction in the United States.
  • This is IQ-EQ’s 1st transaction in Massachusetts.

M&A Deal Summary

Date 2025-05-20
Target South Watch
Sector Financial Services
Buyer(s) IQ-EQ
Sellers(s) Everlane Equity Partners
Deal Type Add-on Acquisition

Target

South Watch

Norwood, Massachusetts, United States
South Watch is a boutique provider of comprehensive fund administration, outsourced CFO support, and tax preparation services to hedge fund managers. South Watch was founded in 2016 and is based in Norwood, Massachusetts.

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Buyer(S) 1

Buyer

IQ-EQ

Luxembourg, Luxembourg

Category Company
Founded 1896
Sector Financial Services
Employees4,750
DESCRIPTION

IQ-EQ is an investor services group providing a comprehensive range of compliance, administration, asset, and advisory services to investment funds, global companies, family offices, and private clients globally. IQ-EQ was formed in 1896 and is based in Luxembourg, Luxembourg.


DEAL STATS #
Overall 4 of 4
Sector: Financial Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 4 of 4
State: Massachusetts M&A 1 of 1
Country: United States M&A 3 of 3
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-16 Greyline

San Francisco, California, United States

Greyline is a provider of governance and regulatory compliance solutions for PE, VC, Hedge funds and investors. The company provides a range of services including regulatory compliance, management consulting and governance, outsourced operations and middle office services, and outsourced finance, accounting and back-office services. Greyline was formed in 2016 and is based in San Francisco, California.

Buy -

Seller(S) 1

DESCRIPTION

Everlane Equity Partners is a private equity firm that invests in small to mid-sized family or founder owned companies across the US. The Firm looks for profitable businesses with $1.5 to $8 million of EBITDA. Sectors of interest include business services, financial services, healthcare, industrial, and IT services. The Firm seeks to partner with management teams and provide dedicated senior-level support and strategic resources to accelerate growth and institutionalize operations. Everlane Equity Partners was formed in 2018 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 1 of 1
Sector: Financial Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Massachusetts M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-09 Monument Advocacy

Washington, District of Columbia, United States

Monument Advocacy is a bipartisan government relations and public affairs firm offering comprehensive government relations, strategic communications, public affairs, and digital services. Monument Advocacy was founded in 2006 and is based in Washington, Washington DC.

Buy -