Projective Group, backed by Gimv, has sold Ruler to CERRIX, backed by Fortino Capital


Amsterdam – CFI is pleased to announce that it acted as the exclusive corporate finance advisor to Projective Group, backed by Gimv, in the sale of Ruler to CERRIX, backed by Fortino Capital.
 
About Projective Group
Projective Group is a European consulting and technology group specialising in financial services, supporting clients across banking, insurance and asset management. The group provides advisory and implementation services in areas including risk management, regulatory compliance, data and digital transformation. Headquartered in Belgium and active across multiple European markets, Projective Group combines domain expertise with technological capabilities to help financial institutions navigate an increasingly complex regulatory environment.
 
About Ruler
Ruler is a regulatory intelligence SaaS platform that supports organisations in monitoring regulatory developments and assessing their impact. The platform continuously tracks updates from regulatory bodies such as DNB, AFM, ESMA and other European authorities, translating complex legislation into structured and actionable insights for legal, compliance and risk teams. By combining expert editorial analysis with AI-supported processing, Ruler enables organisations to identify relevant regulatory changes and manage them in a structured way. 

About CERRIX
CERRIX is a SaaS platform that enables organisations to structure, manage and embed Governance, Risk and Compliance processes in a fully integrated way. The platform provides a single source of truth for risk management, internal controls, compliance frameworks and audit activities, supporting organisations in moving away from fragmented tools and manual processes. Founded in 2014 in the Netherlands, CERRIX was developed to support operational risk management in regulated environments and is currently used by more than 100 organisations in over 20 countries.

About the transaction
Against the backdrop of increasing regulatory complexity and the growing need for organisations to address regulatory change in a structured and integrated manner, the transaction brings together complementary capabilities in regulatory intelligence and Governance, Risk and Compliance. For Ruler, the transaction enables further development of its platform within a broader GRC environment, supporting the integration of regulatory intelligence into end-to-end risk and compliance processes. For CERRIX, the acquisition represents a strategic enhancement of its platform by adding regulatory monitoring and horizon scanning capabilities, strengthening its ability to support clients in managing the full lifecycle from regulatory change to risk, controls and compliance.

CFI’s role in the process
CFI acted as the exclusive corporate finance advisor to Projective Group and Gimv in the strategic divestiture of Ruler. Through careful orchestration and hands-on deal execution, CFI successfully guided all parties towards a swift transaction on attractive terms and lays a strong foundation for Ruler’s continued growth. The transaction closed on 13 March 2026.

Stefan Dierckx, CEO of Projective Group: “We greatly appreciated the constructive and professional support provided by CFI throughout this process. Their guidance and hands-on approach were instrumental in achieving a successful outcome. We are confident that Ruler is well positioned within CERRIX to further develop its regulatory intelligence capabilities and to strengthen the connection between regulatory insight and effective risk and compliance execution. This combination creates a compelling platform to support financial institutions in managing regulatory change effectively.”

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