- Headquarters: Quito, Ecuador
- Acquisition Date: May 2019
- Vertical Market: Banking & Retail
Founded in 1995, Fisa Group is a leading provider of integrated technology solutions for the financial services industry in Latin America. Since its founding, Fisa Group has carried out over 120 projects with commercial and retail clients across nine countries. Fisa Group’s solutions help banks and financial institutions grow and improve their productivity and accountability.
By 2016, Fisa Group’s founder was beginning to prepare for retirement, and he wanted to ensure his customers and employees would be left in “solid hands.”
Fisa Group’s shareholders went in search of a successor who was a technical expert in their field and who also possessed in-depth knowledge of the banking industry. Kenshi Banderas fit this profile, offering 17 years of experience in IT implementation and transformation. In October 2016, Kenshi was brought into the company to manage the operational aspects of the business, later transitioning into the position of CEO.
The next step in succession planning was to find a buyer that would hold the business for the long-term and invest in its growth.
As incoming CEO, Kenshi wanted to make Fisa Group more operationally efficient and grow the business. Kenshi’s challenge was to increase the effort to bring in new clients and further develop and deepen relationships with existing clients.
The key differentiator was Volaris’ long-term commitment to its acquisitions. This is what the shareholders were looking for in a buyer. Volaris’ intention to retain current management and employee structure was also very important and, in our view, crucial to maintaining current client relationships.
— Fisa Group’s shareholders
The Decision to Sell
Fisa Group’s shareholders were looking for a buyer that would protect their customers and nurture their employees. They evaluated buyers largely on the basis of their long-term commitment to the business – as well as their record of performance in this area. The company's shareholders did not want to subject employees and clients to frequently changing owners and strategies. Rather, they wanted to find a buyer that would offer stability and use proven strategies to strengthen and grow the business for the long-term.
In 2018, Volaris Group identified Fisa Group as a company of interest. Acquiring Fisa Group would help Volaris bolster its presence in the financial services software vertical and expand further into Latin America. After several exploratory calls, the company’s shareholders saw Volaris was a firm that could offer the type of multi-national clout, guidance and best practices that Fisa Group desired.
I believe that Volaris will be able to help us focus on boosting our customer relationships and put more power into our back-to-base sales. I have been really inspired by the sales talks at Quadrants (a Volaris talent development event).
— Kenshi Banderas, CEO, Fisa Group
The financial solutions sector in Latin America is rapidly growing for banking and retail, and small and medium sized organizations want to be assured that their software provider will be able to scale with them as they grow. Fisa Group’s customers are resonating with the message that Volaris doesn’t sell the businesses they acquire. Customers feel assured that Fisa Group will be able to support them over the long-term as they transform and adapt to meet the needs of their own clients.
In addition to protecting customers, the acquisition is having a positive impact on employees. People at all levels of the organization are benefitting from the stability, best practices, and professional growth opportunities made possible by Volaris.
Kenshi believes that Fisa Group has the ability to become a much bigger company than they are right now. They have good products, knowledgeable staff, and now, the support of a world-class buy-and-hold-forever acquirer.