M&A Deal Summary

Partners Group and CVC Capital Partners Acquire Version 1

On April 20, 2022, asset manager Partners Group and private equity firm CVC Capital Partners acquired information technology company Version 1 from Volpi Capital

Acquisition Highlights
  • This is Partners Group’s 6th and CVC Capital Partners’ 10th transaction in the Information Technology sector.
  • This is Partners Group’s 7th and CVC Capital Partners’ 57th transaction in the United Kingdom.

M&A Deal Summary

Date 2022-04-20
Target Version 1
Sector Information Technology
Buyer(s) Partners Group
CVC Capital Partners
Sellers(s) Volpi Capital
Deal Type Secondary Buyout
Advisor(s) Jefferies (Financial)
Maples Group (Legal)

Target

Version 1

London, United Kingdom
Version 1 is an IT consulting and managed services company. Version 1 delivers technology-enabled solutions and services that transform their customers’ businesses. They bring in-depth domain experience, breadth of technology competence, and a relentless focus on service excellence and customer satisfaction to address the business challenges of enterprise customers across all industry sectors. Version 1 was founded in 1996 and is based in London, United Kingdom.

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Buyer(S) 2

Buyer

Partners Group

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1996
PE ASSETS 174.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Partners Group is a global investment management firm with a variety of funds and institutional clients. The Firm's direct investment group looks to invest in or acquire market leading companies with growth opportunities linked to technology. Partners is a hands-on investor and looks to actively support its portfolio companies with expansion, operational, and governance structure support. Partners Group was established in 1996 and is headquartered in Zug, Switzerland.


DEAL STATS #
Overall 88 of 97
Sector: Information Technology M&A 6 of 9
Type: Secondary Buyout M&A Deals 47 of 53
Country: United Kingdom M&A 7 of 7
Year: 2022 M&A 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-01 Forterro

London, United Kingdom

Forterro is a group of companies that deliver ERP software to SMEs in specialized geographical or vertical markets. Forterro operates business units in Sweden, Switzerland and France, as well as regional office locations and research and development centers around the world. Forterro was founded in 2012 and is headquartered in London, England.

Buy €1.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-01 Acrisure

Grand Rapids, Michigan, United States

Acrisure is a retail insurance brokerage offering comprehensive risk management and consulting solutions, including property & casualty, employee benefits, human resource outsourcing, loss & claims management, surety bonding and personal lines coverage. Acrisure was founded in 2005 and is based in Grand Rapids, Michigan.

Sell -
Buyer

CVC Capital Partners

Luxembourg, Luxembourg

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 177.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

CVC Capital Partners is a global private equity firm focused on investments in large companies located in Europe, North America, and Asia. CVC looks for opportunities with stable cash flows and talented management, and will consider businesses in a variety of industries. Target sectors include textiles, industrial products, waste management, building materials, energy/utilities, business services, financial services, distribution, healthcare, media, semiconductors, and gaming. CVC can handle transactions valued from €200 million to €10 billion. CVC Capital Partners was formed in 1981 and is based in Luxembourg.


DEAL STATS #
Overall 307 of 329
Sector: Information Technology M&A 10 of 12
Type: Secondary Buyout M&A Deals 72 of 78
Country: United Kingdom M&A 57 of 61
Year: 2022 M&A 8 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-18 Neolith

Almazora, Spain

Neolith is an innovative architectural surface with superior technical characteristics, made from 100% natural raw materials. The company is quality, versatile, durability, and sustainable, but also class, elegance style, and subtlety; created to satisfy the most demanding needs of the world of architecture and interior design through its different collections, suitable for any type of application such as kitchen worktops, bathrooms, facades flooring, and even furniture. Neolith was founded in 2009 and is based in Almazora, Spain.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-19 Quality Group

Elmshorn, Germany

Quality Group is a manufacturer of innovative sports performance nutrition products and healthy, low-sugar food alternatives in the DACH region. Quality Group was formed in 2020 and is headquartered in Elmshorn, Germany.

Buy -

Seller(S) 1

SELLER
DESCRIPTION

Volpi Capital LLP is a private equity firm focused on control investments in tech-enabled B2B service companies that use enabling technologies to address mission critical needs. Volpi seeks opportunities throughout Northwest Europe and will consider opportunities valued from €50 to €200 million. Volpi Capital LLP was formed in 2016 and is headquartered in London.


DEAL STATS #
Overall 1 of 2
Sector: Information Technology M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 2
Country: United Kingdom M&A 1 of 2
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-26 Lightfoot

Exeter, United Kingdom

Lightfoot is a connected car technology to reward better drivers. Lightfoot uses a distinctive platform that ties rich engine data and environmental factors into driver performance using a live coaching feedback loop. Lightfoot was founded in 2013 and is based in Exeter, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-11 Xalient

Leeds, United Kingdom

Salient is a global networking and cybersecurity service supplier to accelerate international growth, expands the product portfolio with complementary capabilities, and scales the distinctive market proposition using M&A and further investments in the organization. The company helps large corporations secure and rapidly migrate their networks to the cloud using cutting-edge technologies. Salient benefits from a global client base, notably in the US where it has a growing footprint. It has demonstrated exponential growth in recent years as businesses rise to the challenge of becoming more agile, more connected, and most critically, more cyber secure. Salient was formed in 2015 and is based in Leeds, United Kingdom.

Buy -