FGI Worldwide LLC announced it has been acquired by the Private Equity business within Goldman Sachs Alternatives.

Over its 25-year history, FGI has established a strong reputation as a leader and innovator in asset-based lending and risk mitigation, specializing in multi-jurisdictional working capital solutions that support businesses with flexible financing to drive domestic and global expansion. The acquisition enables FGI to accelerate its growth and expand its suite of financing, risk and Insurtech solutions for clients.

In conjunction with the transaction, Sami Altaher, Co-Founder and President of FGI, succeeds David DiPiero as Chief Executive Officer, marking the next chapter in the Company’s evolution.

“We are grateful to our team, customers, partners and investors who have made this milestone possible,” said Altaher. “I am incredibly proud of what we have built at FGI alongside my co-founders David DiPiero and Joseph Albertelli, and I am honored to take on the role of CEO as FGI enters its next phase of growth. Looking ahead, we are focused on thoughtfully scaling the business by investing in our platform and expanding our product capabilities, while remaining committed to serving small and medium-sized enterprises and the broader commercial finance industry. Goldman Sachs Alternatives shares our long-term vision to strengthen FGI’s leadership and deliver even greater solutions to our clients.”

“We are thrilled to partner with Sami and the FGI team to help accelerate the Company’s growth,” said Anthony Arnold, Partner within Private Equity at Goldman Sachs. “FGI has built a differentiated offering supported by market-leading underwriting expertise and a technology-driven operating platform. As the Company’s first institutional investors, we look forward to bringing the full scope of Goldman Sachs’ resources to help FGI capitalize on the significant opportunities ahead.”

“We are impressed by the capabilities and operational sophistication FGI has built,” added Michael Coleman, Managing Director within Private Equity at Goldman Sachs. “FGI’s exceptional track record of innovation, growth and credit performance positions it well for continued success. We believe Goldman Sachs will be a value-added partner as FGI continues to scale its platform and advance the industry.”

Financial terms were not disclosed. Keefe, Bruyette & Woods, A Stifel Company served as financial advisor and Blank Rome LLP served as legal counsel to FGI. Houlihan Lokey served as financial advisor and Sidley Austin LLP served as legal counsel to Goldman Sachs Alternatives.