Investment Summary

Lovell Minnick Partners Invests In Definiti

On February 2, 2023, private equity firm Lovell Minnick Partners invested in business services company Definiti

Investment Highlights
  • This is Lovell Minnick Partners’ 7th transaction in the Business Services sector.
  • This is Lovell Minnick Partners’ 47th transaction in the United States.
  • This is Lovell Minnick Partners’ 3rd transaction in Texas.

Investment Summary
Date 2023-02-02
Target Definiti
Sector Business Services
Investor(s) Lovell Minnick Partners
Deal Type Stake Purchase
Advisor(s) Raymond James - Investment Banking (Financial)
Nutter McClennen & Fish (Legal)

Target

Definiti

Houston, Texas, United States
Definiti is a provider of retirement services that help companies and their employees maximize their savings. Definiti helps organizations deliver smart retirement solutions to their employees. With hundreds of experts across the country, including in-house actuarial consultants, ERISA attorneys, document specialists and retirement plan consultants, Definiti helps clients redefine what’s possible with workplace retirement plans. Definiti is based in Houston, Texas.

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Investor(S) 1

Investor

Lovell Minnick Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 3.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Lovell Minnick Partners is a private equity firm that targets investments in financial services companies located in North America and Europe. Specific areas of interest include asset management, financial planning, financial product distribution, outsource providers, specialty finance, and related administration and business services companies. The Firm looks to commit $40 to $150 million of equity capital per investment. Prospective transaction situations include divestitures, management buyouts, growth capital financings, and recapitalizations. Lovell Minnick was formed in 1999 and is headquartered in Radnor, Pennsylvania.

DEAL STATS #
Overall 52 of 55
Sector (Business Services) 7 of 8
Type (Stake Purchase) 5 of 5
State (Texas) 3 of 3
Country (United States) 47 of 50
Year (2023) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-03 National Auto Care

Westerville, Ohio, United States

National Auto Care is a provider of F&I products, administration, consulting services, training and marketing support to independent agents, insurance companies, financial institutions, third-party administrators, and credit unions. National Auto Care focuses on increasing agent and dealer profitability by providing unique F&I products in protected markets. National Auto Care was recently named a Top Workplace in Central Ohio for the third year running and was honored with a 2018 Dealer’s Choice Platinum Award for F&I Products. NAC was founded in 1984 and is based in Westerville, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-19 Net at Work

New York City, New York, United States

Net at Work is a managed IT services provider with expertise in managing mission critical software applications, IT services, and cloud hosting requirements for small to medium businesses across a diverse set of industries. The Company provides a range of IT solutions across five main categories ERP / Accounting, CRM / Marketing, HR Solutions, IT Managed Services and Cloud Services. Net at Work was founded in 1996 and is based in New York City, New York.

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Product

Company

Legal