Finance & Insurance
Synova backs Synectics Solutions
The GP typically invests £15-150m into companies valued between £20m and £250m
IK Partners raises maiden continuation fund
The vehicle will allow the firm to extend its hold of Yellow Hive
Eurazeo acquires Eres Group
IK Partners has exited the French company after five years
Lakestar closes latest fund generation on $600m
Lakestar Early IV and Lakestar Growth II will focus their investments in AI, digitalisation, deeptech, healthcare and fintech
ICG backs travel insurance specialist Staysure
The UK-based company operates a portfolio of insurance brands and products including Avanti Travel Insurance and Rock
EQT sells data manager Rimes to Five Arrows
EQT initially invested in the data management business in 2020
AnaCap acquires majority stake in property management platform
The GP will look to help Yard Reaas accelerate its international expansion strategy in Southern Europe
Brera Partners acquires 70% of GBSapri
The deal value is confirmed to be below €100m
Preservation Capital Partners closes PCP Fund II
The close represents a 30% increase from its predecessor fund
ThinCats launches regional fund
The fund targets midsized SMEs across the UK
Palatine-backed BK Plus expands into the Southwest
The accountancy firm was acquired by Palatine’s Buyout Fund IV in September 2023
Bain Capital acquires and combines two software platforms
The investor made the investments through its Tech Opportunities vintage
Estancia acquires stake in Flagstone
Estancia partners Takashi Moriuchi and Keegan Mitchell will join the Flagstone board of directors
Pollen Street takes Mattioli Woods private
The wealth manager said Pollen Street brings “significant” resources to accelerate the delivery of Mattioli Woods' M&A and organic growth plans
Cinven invests in Alter Domus
GP to acquire half of the founders’ and Permira’s stakes in the fund admin; aims to grow company in key markets and customer verticals
Hg backs newly formed corporate insurance brokerage
Belgium-based Induver and Clover have combined to form the new group
LDC invests in Uinsure
Aziz Ul-Haq, partner at the GP, told Real Deals that the value creation plan will focus on removing the complexity of insurance for the firm’s partners and customers
Fund in Focus: Epiris Fund III holds final close on £1.044bn
Alex Cooper-Evans, partner, tells Real Deals the fund had strong re-ups from existing LPs
CBPE provides Perspective to Charlesbank
It is the seller’s sixth exit from Fund IX
Amundi makes private markets push
Europe’s largest asset manager has acquired Zurich’s Alpha Associates
Main merges portcos to form financial software group
The resulting entity is called Foconis
ScaleUp sells edtech business
The acquisition has been completed by a local family office in collaboration with the management team
Solter Capital and Posella sell European insurance broker
The GPs supported MJM Holdings growth via M&A
Horizon Capital-backed Dains Group completes two bolt-ons
The firm has completed five bolt-ons since the GP invested in 2021
Polaris sells North to Howden
The transaction marks Howden’s largest acquisition in continental Europe after Italy’s Assiteca
Maven VCT backs UK insurtech business
The funding will help the business grow its UK market share and increase penetration in the US and Europe
GIC buys Cinven’s Miller shares
The firm’s further investment will help the business add new talent and continue its M&A strategy
Bowmark-backed Tax Systems bolts on TaxModel
The bolt-on will allow TaxModel to broaden its product offering
AnaCap closes maiden continuation fund on c.€300m
The close represents the fourth and fifth full exits from AnaCap’s Fund III
Sprints acquires 40% of Modular Finance
The company’s founders will retain the majority of the shares
Explore Equity invests in European communications agency platform
Paritee’s shareholder will reinvest along with the GP
Maven carves out Newable Ventures
The EIS-focused fund management business was carved out from Newable Partnership
Maven MBO fund exits Titan Wealth for 3x
The GP has backed the portfolio since its inception in July 2021
Inflexion acquires Allen & Overy’s Aosphere
The GP will expand Aosphere’s product offering through an international expansion
Tenzing-backed Activpayroll acquires business services firm
The company has bolted on Netherlands-based Limes International
AnaCap-backed Orbyt acquires Telia’s Finnish eInvoice unit
Orbyt has been majority owned by the GP since June 2022
Coniston backs MWA Financial with growth capital
The investment is the GP’s fifth from its Coniston Capital I fund
Altor picks up 8% stake in Mandatum
The Nordic GP is currently a minority shareholder in five publicly listed companies
Parabellum Investments-backed ieDigital bolts on Connect FSS
The family office said the two businesses possess synergies that make them a “perfect” fit
Deus X Capital seeks global fintech opportunities
The newly launched allocator is led by former head of EMEA at Galaxy Digital Tim Grant
Hg-backed Visma bolts on Quaderno
Quaderno becomes Visma’s fourth acquisition in Spain since entering the country in 2021
Exponent-backed Xeinadin bolts on Quintas
The deal increases Xeinadin’s headcount in Ireland by 18%
CVC backs insurance underwriter Dale
The GP has acquired a majority stake and will provide capital to fuel the business’s growth
Apiary-backed Shaw Gibbs adds on Herbert Parnell
Apiary Capital invested in the platform company in 2022 to support its buy-and-build strategy
Financial services sector beats the odds – Finncap Cavendish
Hot on the heels of his promotion to partner, Ben Goldring discusses his outlook for investments in the financial services space
Bridgepoint acquires ECP for upfront EV of £835m
ECP’s partners will collectively become one of Bridgepoint’s “largest” shareholders as a result
Ontario Teachers’ Pensions Plan acquires majority stake in 7IM from Caledonia Investments
The Canadian fund said the investment exemplified its strategy to make control investments in its “high-conviction” sectors
LLCP portfolio company does Pristine deal
The bolt-on represents GLAS’s first acquisition following LLCP’s investment last year
Exclusive: Finncap Cavendish promotes Ben Goldring to partner
Goldring will continue to lead the financial services practice, focusing on FS distribution, fintech and wealth
Nordic Capital’s Trustly puts faith in SlimPay bolt-on
The GP first acquired Trustly in 2018 through its Fund IX
Tenzing-backed Altum buys Link Luxembourg
Transaction highlights private equity’s continued push in the fund administration space
Blackstone snaps up minority stake in Groupe Premium
Blackstone’s €400m purchase sees the GP investing alongside existing backers Eurazeo
Carlyle acquires Evolution Funding
Existing investor LDC will reinvest in the asset
Finch Capital backs eflow Global with £7m investment
The growth investment was supported by ScaleUp Group, which facilitated the structured process
Motive acquires majority stake in With Intelligence
The deal sees further investment from remaining shareholder ICG
Deal in Focus: Apiary Capital bets on insurance MGU
This deal marks the GP’s first investment in insurance services
Bowmark backs Lendscape
The portfolio company has a track record of double-digit revenue growth
Nordic Capital exits Macrobond to Francisco Partners
Macrobond’s founder Tomas Liljeborg will continue as CEO and remain a “significant” equity holder in the portfolio company
IK Partners to acquire majority stake in Cinerius Financial Partners
Summit Partners and Cinerius’ management team are “significantly” reinvesting as part of the transaction.
MidEuropa partially exits Symfonia to Accel-KKR
The Central Europe-focused investor supported the business organically by improving operationally and via digital growth.
Exclusive: Inflexion backs TC Group
Inflexion invested via its Enterprise Fund V, which raised £400m in May 2019.
KKR makes follow-on investment in Söderberg & Partners
KKR has been a minority investor since 2019, alongside TA associates which initially invested in the business in 2014, and reinvested in 2021.
US-based Bonaccord Capital Partners picks up minority stake in Synova
Bonaccord plans to support the firm through its global institutional network while providing additional capital to further the GP's growth plans.
PAI Partners joins Hg in backing Azets Group
With this new investment, PAI will hold an equal and co-controlling stake in Azets alongside current owner Hg.
AnaCap-backed Market Pay to acquire Novelpay
The deal represents Market Pay’s third bolt-on in less than two years, following the acquisition of Acoustic and Dejamobile.
LDC-backed Evolution Funding adds on Motion Finance
As part of the transaction, Motion Finance will continue to operate under its own brand, with its existing management team continuing to lead the business.
IK Partners backs Linxea Finance Group
NextStage AM and Matignon Investissement (M3I) first backed the business in 2015. During their investment, the business’s AUM has grown from €800m to €2.8bn.
Wafra’s Capital Constellation and ISCG pick up minority stake in MML Capital
Rory Brooks CBE, current chair of MML, will step down from the GP. Meanwhile, the investment will enhance MML's global distribution capabilities and support its nascent infrastructure focus.
Palatine-backed Suntera Group expands Channel Islands footprint with Carey Commercial acquisition
The add-on acquisition marks the seventh since Palatine’s initial investment, from its buyout fund in 2019.
Deal in Focus: Sovereign cashes in with latest accountancy acquisition, LB Group
Alex Hay, a partner at Sovereign Capital Partners, told Real Deals that its latest deal will focus on strategic acquisitions to grow regionally, and its service offering.
Armen to secure up to 30% stake in Private Corner
With Armen’s support, Private Corner will accelerate its expansion in France and across Europe, strengthen its team, build its commercial offering and continue to invest in the development of its digital platform.
Deal in Focus: Carlyle’s Hurst Point dives further into wealth management
The acquisition of Helm Godfrey boosts group revenue by £10m; Real Deals spoke to Hurst Point chair Ian Gladman about the company's latest deal.
Connection Capital co-invests £5.6m in Copper Street-backed Thistle Initiatives
Connection Capital said many experienced emerging managers are being attracted by a deal-by-deal model as fundraising remains muted.
Deal in Focus: Foresight delivers 4.5x return on GovGrant exit
Partner Matt Smith and senior investment manager David Miles sat down with Real Deals to discuss the eight-year-long value creation plan.
Tenzing-backed Gravita acquires two accountancy practices
The bolt-ons increase Gravita’s headcount by 67% to over 390 professionals.
Kartesia to become majority shareholder of Flexam
Flexam will retain its existing management and investment autonomy, while benefiting from the operating and financial resources, distribution network and scale of Kartesia.
Apiary Capital backs First Intuition
The investment marks the tenth from Apiary’s £200m maiden fund, raised in June 2018.
August Equity-backed AAB Group acquires French Duncan
August Equity first backed the business in October 2021. This add-on acquisition marks the eighth during the GP's investment.
August Equity-backed AAB Group bolts on French Duncan
This add-on acquisition marks the eighth since August’s investment in October 2021.
Charterhouse Capital Partners to back France Valley
Investing through its Fund XI, Charterhouse’s investment will support the business through geographic expansion and strengthening the brand image, as well as the launch of new diversified products.
Phoenix Equity Partners acquires 4most
The deal marks the second from Phoenix’s 2022 fund, which completed its first investment via Dufrain in July last year.
Montagu-backed Waystone to acquire Link Fund Solutions
MML Capital sold its stake in Waystone to Montagu for $1.3bn in January 2022, delivering an 11x return to its MML Fund VI investors who backed the company in 2019.
Tenzing-backed PSSG adds on Essential Payroll
The add-on acquisition will enhance PSSG’s product offering and broaden its services, with the aim of widening its market reach.
Armen kicks off debut fund’s deployment by backing RGreen Invest
The transaction represents the beginning of the deployment of the firm’s maiden fund, which held its first close on €150m two weeks ago.
Hunter Point Capital makes minority investment in Inflexion
Inflexion said the partnership with the pre-eminent GP minority stake investor aims to deepen its expertise and expand its network at a time of “enormous opportunity” for the firm.
Andera Partners-backed BEA acquires Capanna
Andera Partners first invested in BEA Group in July 2022 from its Andera Acto division, which specialises in sponsorless mezzanine investments.
AnaCap bags 4.3x return with MRH Trowe sale to TA Associates
MRH Trowe has been a buy-and-build project for AnaCap since 2021.
Main Capital Partners’ Enventa Group bolts on Syska
Enventa Group will aim to create an integrated suite of business software by leveraging Syska’s products and expertise.
N4 Partners-backed Opulus Financial completes fifth add-on
The bolt-on acquisition, which is being financed by a £10m growth debt facility by SME Capital, expands its CFO solutions throughout Scotland.
Maven Capital Partners partially exits Titan Wealth to Parthenon Capital
Maven’s UK Regional Buyout Fund initially backed the business in July 2021; the partial realisation delivers an IRR in excess of 100% and represents the second exit.
SFI invests €400m in Tikehau Capital Advisors
Following the transaction, Société Familiale d'Investissements will indirectly hold 9.3% of Tikehau Capital, and will thus become a leading shareholder in the company.
Altor to acquire 80% stake in Kommunalkredit
Kommunalkredit Austria's existing shareholders – Interritus, Trinity Investments DAC and the Austrian Association of Municipalities – will remain as minority shareholders.
LDC-backed Ross Trustees merges with ITS to form IGG
LDC, which first invested in Ross Trustees in 2020, has provided additional funding to support the transaction and will become the private equity partner of the combined group.
Tenzing-backed DJH Mitten Clarke completes first bolt-on under new investment
Tenzing-backed DJH Mitten Clarke has acquired Novis & Co, a Leeds-based accountancy firm.
Equistone exits majority stake in Acuity to Permira
Equistone will reinvest in Acuity as a minority shareholder, alongside Acuity’s management team who remain “significantly” invested in the business.
AnaCap-backed MRHT agrees to acquire Lurse
MRH Trowe's bolt-on of Lurse follows two previous additions that saw SHT Group and Zwicknagl & Partner become part of MRHT in the final months of 2022.
Apex acquires Luxembourg’s ALFI Partners
The acquisition aims to deliver a cross-border fund-distribution solution.
BlackFin Capital Partners to sell CED Group to Rivean Capital
BlackFin first acquired CED Group in 2018, and during that time has grown the business by setting up its digital service offering, strengthening customer relationships and through inorganic growth.
Eurazeo invests £355m in BMS Group
Eurazeo will become a majority shareholder alongside existing investor British Columbia Investment Management Corporation. Eurazeo’s investment values the business at £1.75bn.
Kester Capital backs DC Byte MBO
Kester's investment is the fifth from its latest fund, Kester Capital II, which closed on its hard-cap of £90m in 2020.