Bonaccord Capital Partners, a division of Aberdeen Standard Investments, has acquired a minority stake in Atlanta-based MSouth Equity Parthers, a lower-middle market private equity firm. No financial terms were disclosed. DC Advisory LLC served as financial adviser to MSouth on the deal while Kirkland & Ellis LLP provided legal counsel. And, Fried, Frank, Harris, Shriver & Jacobson LLP served as legal counsel to BCP.
Atlanta, GA (June 3, 2019) – MSouth Equity Partners, a leading lower middle market private equity firm, today announced that Bonaccord Capital Partners (BCP), a division of Aberdeen Standard Investments (ASI), has acquired a minority stake in the firm.
Pursuant to the transaction, BCP acquired a passive, non-voting minority stake and will provide capital to support the future growth of the firm and the development of strategic initiatives. BCP will not have any authority in making operating or investment decisions of MSouth. Terms of the transaction were not disclosed.
Mike Long, Co-Founder and Partner of MSouth Equity Partners, said: “This is an exciting opportunity for us to partner with our longstanding investor ASI through its Bonaccord unit. Their investment is a testament to the strength of the MSouth team and consistent regional focus which have driven our value creation over many years. It is our strong belief that with this investment MSouth will continue to build on our established presence in the South. The combination of BCP’s strategic approach coupled with our established institutional relationship and ASI’s global footprint presented the most compelling proposition for a long-term strategic partnership. We look forward to leveraging the partnership with Bonaccord as we continue to grow the business for the benefit of our investors.”
Ajay Chitkara, Head of Bonaccord Capital Partners, which specializes in acquiring long-term interests in private markets managers, said: “MSouth has established itself as a leading firm in lower middle market private equity. Their differentiated sourcing capabilities in the South and strong operating expertise provide a uniquely positioned and sustainable platform for investment success. We believe that MSouth’s track record of strong performance, prudent growth and institutional stability position it for continued success into the future. We look forward to actively partnering with MSouth to support their long-term strategic objectives.”
DC Advisory LLC served as financial advisor and Kirkland & Ellis LLP served as legal counsel to MSouth in this transaction. Fried, Frank, Harris, Shriver & Jacobson LLP served as legal counsel to BCP.
About MSouth Equity Partners
MSouth is a private equity investment firm that provides equity capital and expertise to support management teams in acquisitions and recapitalizations of lower middle market companies typically valued between $25 and $200 million. Based in Atlanta, Georgia, MSouth invests primarily in the South with a consistent focus on management buyouts of business services, specialty distribution, niche manufacturing, healthcare services and telecommunications/media companies. With over $2.2 billion under management across four funds, MSouth is a successor to Cravey, Green & Wahlen, Inc., which was founded in 1984. To learn more, visit us at www.msouth.com.
About Aberdeen Standard Investments 1
ASI is a leading global asset manager with $735 billion in assets under management and 52 offices worldwide. Additionally, ASI has a differentiated and comprehensive perspective on the alternative investment landscape through its platform, managing approximately $34 billion in allocations to third-party alternative asset managers across private equity, real assets, real estate and hedge fund strategies. The BCP team aims to leverage ASI’s global footprint and alternatives capabilities to support MSouth’s strategic initiatives.
1. Data as of 30 June 2018