New funding supports ongoing acquisition programme under the ownership of Charterhouse Capital Partners
LONDON, September 04, 2024–(BUSINESS WIRE)–Audax Strategic Capital (“ASC” or “Audax”), a provider of customized equity solutions, announced today an investment in Amtivo (“Amtivo” or “the Company”), a global B2B provider of accredited certifications and assurance services, and a portfolio company of Charterhouse Capital Partners LLP (“Charterhouse”). Terms of the investment are not disclosed.
Founded in 2017 and headquartered in London, Amtivo provides accredited certification, training and technology-enabled services, specialising in management-system certification. Through its services, Amtivo aims to build high-performing, sustainable organisations that deliver for their customers, employees, investors and the communities in which they operate.
“We’re excited to back Amtivo as they look to build on the considerable momentum they’ve achieved under Charterhouse’s ownership,” noted Daniel Green, Managing Director at Audax Strategic Capital. “We believe Amtivo is well positioned to capitalize on the compelling tailwinds in the certification and assurance market. The experience of the Audax Private Equity platform and the flexibility of the ASC offering has allowed us to move quickly to support Amtivo’s future growth.”
Since Charterhouse’s original investment in Amtivo in 2022, the company has completed nine acquisitions, while delivering strong organic revenue growth and margin expansion. ASC’s funding, which takes the form of common equity, helps to equip Amtivo for future M&A in pursuit of geographic and potential product line expansion as the company grows its presence in the certification and assurance market.
“This is a typical mid-hold investment for our ASC strategy,” added David Wong, Partner at Audax Private Equity. “We’re backing a proven sponsor in the middle market that will utilize incremental capital provided by ASC in an effort to execute on an attractive and actionable pipeline of M&A opportunities. This represents ASC’s second investment in Europe and fifth overall during the past 12 months.”
“We’re excited to partner with Audax on this investment,” noted Stephan Morgan, Partner at Charterhouse. “With the resources and collaboration of the investor group, we believe the pieces are in place for Amtivo’s next phase of accelerated growth.”
The transaction closed on August 12, 2024. Ropes & Gray LLP provided legal counsel to Audax on the investment.
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About Amtivo Group:
Amtivo Group is a global certification and quality assurance company, dedicated to empowering businesses with cutting-edge solutions. With a focus on excellence, integrity and client satisfaction, Amtivo Group is committed to shaping a world where quality is paramount. https://www.amtivo.com/
About Audax Strategic Capital:
Based in New York and London, Audax Strategic Capital is a flexible partner to private equity sponsors seeking customized equity solutions to drive continued growth at their portfolio companies. ASC’s capital solutions support add-on acquisitions and organic growth initiatives through bespoke structures that enable PE sponsors to maintain continued control and ownership of performing assets while ensuring interests remain aligned in pursuit of future growth. ASC is part of the Audax Private Equity platform, a capital partner to middle market companies with $19 billion of assets under management, over 270 employees, and 100-plus investment professionals. For more information, visit www.AudaxStrategicCapital.com
About Charterhouse Capital Partners:
Charterhouse is one of the longest-established private equity firms operating in Europe. The firm connects expertise and capital, partnering with ambitious founders and management teams to drive transformational change. Charterhouse has a selective, conviction-led approach to investing in high-quality mid-market European companies predominantly across the Services and Healthcare sectors. It targets transactions with an enterprise value of between €150 million and €1 billion. Charterhouse’s international team works in an integrated and flexible manner, allowing the firm to combine the skills, knowledge and experience of its entire team to help build successful businesses over the long term. Charterhouse is currently investing from its eleventh private equity fund. The firm has completed more than 150 acquisitions over 35 years of activity in the European buyout market. www.charterhouse.co.uk
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Contacts
Audax Strategic Capital
Julie Rudnick / Zak Tramonti
FGS Global
[email protected]
Charterhouse Capital Partners
Greenbrook
Michael Russell, Sofia Newitt
[email protected]
+44 (0)207 952 2000
