Investment Summary

Parthenon Capital Invests In Cherry Bekaert

On June 30, 2022, private equity firm Parthenon Capital invested in business services company Cherry Bekaert

Investment Highlights
  • This is Parthenon Capital’s 13th transaction in the Business Services sector.
  • This is Parthenon Capital’s 59th transaction in the United States.
  • This is Parthenon Capital’s 2nd transaction in Virginia.

Investment Summary
Date 2022-06-30
Target Cherry Bekaert
Sector Business Services
Investor(s) Parthenon Capital
Deal Type Growth Capital
Advisor(s) Guggenheim Securities (Financial)
Hunton Andrews Kurth (Legal)

Target

Cherry Bekaert

Richmond, Virginia, United States
website
Cherry Bekaert is a provider of auditing and accounting services. Cherry Bekaert was founded in 1947 and is based in Richmond, Virginia.

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Investor(S) 1

Investor

Parthenon Capital

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1998
PE ASSETS 5.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Parthenon Capital is a private equity firm focused on investing in service-based businesses with recurring revenues, defensible niches and competitive advantages. Parthenon looks for businesses valued between $75 and $750 million operating in sectors that include business services, financial services, manufacturing, technology-enabled services, and distribution/logistics. Prospective transaction types include recapitalizations, management buyouts, acquisitions, privatizations, and growth capital financings. Parthenon Capital was formed in 1998 and has offices in Boston, Massachusetts and San Francisco, California.

DEAL STATS #
Overall 60 of 60
Sector (Business Services) 13 of 13
Type (Growth Capital) 16 of 16
State (Virginia) 2 of 2
Country (United States) 59 of 59
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-05 Choreo

Indianapolis, Indiana, United States

Choreo is a change management consulting firm that transforms workplaces into spaces that foster increased productivity, cost containment and improved effectiveness. Choreo was founded in 2008 and is based in Indianapolis, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-08 ICD

San Francisco, California, United States

ICD is an institutional trading and investment risk management. ICD's next-generation Software-as-a-Service portal, best practices methodologies and award-winning transparency plus exposure analytics, support corporate treasury with end-to-end solutions. The ICD Global Trade Desk provides expert service out of its Boston offices. ICD was founded in 2003 and is based in San Francisco, California.

Sell $785M
Mergr

Product

Company

Legal