Synova announces strategic minority investment from Bonaccord Capital Partners
21 Juni 2023 - 4:00PM
Leading European mid-market investor,
Synova, is
delighted to announce that
Bonaccord Capital
Partners (“Bonaccord” or “BCP”), has made a passive
minority investment in the firm to support its future growth.
Bonaccord, a subsidiary of
P10, Inc. [NYSE: PX],
is a private equity platform dedicated to acquiring non-control
equity interests in leading mid-market private markets sponsors.
Founded in 2007, Synova is recognized as one of
Europe’s most innovative growth investors, maintaining a tireless
focus on working with exceptional companies to drive growth within
the Software & Data, Health,
Tech-enabled Services, and Financial
Services sectors, generating market leading returns since
its inception.
David Menton
& Philip
Shapiro, Synova’s
Managing Partners, said: “We are delighted to
welcome Bonaccord as a long-term strategic investment partner.
Bonaccord’s experience and track record of supporting leading
private equity firms will be invaluable as we look to grow our
business over the coming years.”
“Synova has established itself as a leading
private equity firm built on the remarkable entrepreneurial spirit
of the firm’s founders,” said Ajay
Chitkara, Managing Partner at Bonaccord Capital
Partners. “Synova’s proactive origination, deep domain
expertise, and proven value creation capabilities has allowed them
to deliver exceptional results to investors. We are proud to
partner with the Synova team in support of their long-term platform
initiatives as they continue to be the partner of choice within
their high-growth verticals.”
As a strategic minority investor in Synova,
Bonaccord plans to support the firm through its global
institutional network whilst providing additional capital to
further Synova’s growth plans.
There will be no changes to governance, the
investment process, or day-to-day management of Synova.
Houlihan Lokey served as the exclusive financial
adviser to Synova. Kirkland & Ellis LLP and Fried, Frank,
Harris, Shriver & Jacobson LLP acted as legal counsel to Synova
and Bonaccord respectively.
NOTES:
- SYNOVA invests in companies valued
between £20m and £250m in the UK, Ireland, and continental Europe.
The firm announced in July 2022 the first & final close of its
fifth-generation fund at a hard cap of £875m (c.$1.1bn) to support
growth companies within the Software & Data, Health,
Tech-enabled Services, and Financial Services sectors.Synova was
named ‘UK Private Equity House of the Year’ at the 2022 Private
Equity Awards and ranked in the ‘top ten best-performing Private
Equity firms globally’, in the 2022 HEC Paris-Dow Jones Small-Cap
Buyout Performance Ranking.
- BONACCORD is a private equity firm
focused on acquiring non-control equity interests in middle-market
private markets sponsors spanning private equity, private credit,
and real estate and real assets.By leveraging its strategic
relationships, institutional capabilities, and strategic
development expertise, BCP seeks to support transformative
initiatives that help its portfolio companies reach their potential
and establish enduring institutions.BCP aims to deliver its
investors compelling investment returns while supporting broader
portfolio objectives through partnerships with its portfolio
companies. Bonaccord Capital Partners is a part of P10, Inc. [NYSE:
PX], a leading multi-asset class private markets solutions provider
in the alternative asset management industry.
- P10 is a leading multi-asset class
private markets solutions provider in the alternative asset
management industry. P10’s mission is to provide its investors
differentiated access to a broad set of investment solutions that
address their diverse investment needs within private markets. As
of March 31, 2023, P10 has a global investor base of more than
3,300 investors across 50 states, 54 countries, and six continents,
which includes some of the world’s largest pension funds,
endowments, foundations, corporate pensions, and financial
institutions.
CONTACT:
SYNOVA |
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Philip Shapiro |
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hello@synova.pe |
David Menton |
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BONACCORD |
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Investor Relations |
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Sophia Kolodzinski |
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Sophia.kolodzinski@bonaccordcapital.com |
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info@bonaccordcapital.com |
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