Growth Capital • Business Services

Parthenon Capital Invests In Cherry Bekaert

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

Investment Context
  • This is Parthenon Capital’s 14th transaction in the Business Services sector.
  • This is Parthenon Capital’s 60th transaction in the United States.
  • This is Parthenon Capital’s 1st transaction in Virginia.

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Investment Summary

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

Target Company

Cherry Bekaert

Richmond, Virginia, United States
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 Overview 1

Investor

Parthenon Capital

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


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 Context for Investor #
Overall 60 of 63
Sector: Business Services 14 of 15
Type: Growth Capital 17 of 18
State: Virginia 1 of 2
Country: United States 60 of 62
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
2023-11-21 Titan Wealth

London, Virginia, United Kingdom

Titan Wealth is a comprehensive Wealth Planning Firm. Titan provides clients with both personal and professional service. Titan offers Investment Advisory Service, Retirement Planning, Estate Planning, Education Planning, Tax Planning, and Insurance Planning utilizing specialized investment products and strategies. Titan Wealth is based in London, United Kingdom.

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