M&A Deal Summary

Phoenix Equity Partners Acquires Nexus Vehicle Rental

On July 31, 2018, private equity firm Phoenix Equity Partners acquired business services company Nexus Vehicle Rental from Bowmark Capital for 142M GBP

Acquisition Highlights
  • This is Phoenix Equity Partners’ 7th transaction in the Business Services sector.
  • This is Phoenix Equity Partners’ largest (disclosed) transaction.
  • This is Phoenix Equity Partners’ 42nd transaction in the United Kingdom.

M&A Deal Summary

Date 2018-07-31
Target Nexus Vehicle Rental
Sector Business Services
Buyer(s) Phoenix Equity Partners
Sellers(s) Bowmark Capital
Deal Type Secondary Buyout
Deal Value 142M GBP
Advisor(s) PwC Law (Legal)

Target

Nexus Vehicle Rental

Leeds, United Kingdom
Nexus Vehicle Rental is a technology-driven B2B vehicle rental intermediary, which connects corporate customers with vehicle rental companies through its proprietary online booking and rental management system, IRIS. The system provides Nexus’s 1,000 corporate customers with access to over 550,000 vehicles sourced from 220 rental companies across 2,000 locations. Nexus Vehicle Rental was established in 1999 and is based in Leeds, United Kingdom.

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Buyer(S) 1

Buyer

Phoenix Equity Partners

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 1.5B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

Phoenix Equity Partners is a mid-market private equity firm that funds management buyouts and buy-ins, and provides expansion capital for UK-based companies. Phoenix looks for opportunities valued up to £200 million. Target sectors include consumer, leisure, retail, financial services, healthcare, education, media, transportation/logistics, and business services. Phoenix Equity Partners was formed in 2001 and is based in London.


DEAL STATS #
Overall 44 of 56
Sector (Business Services) 7 of 10
Type (Secondary Buyout) 14 of 16
Country (United Kingdom) 42 of 52
Year (2018) 2 of 3
Size (of disclosed) 1 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-27 Capital Economics

London, United Kingdom

Capital Economics is an independent macro‐economic research company. The research provider offers a subscription-based service to a blue-chip client base of approximately 1,500 global institutions across 96 countries. Capital Economics was founded in 1990 and is based in London, United Kingdom.

Buy £95M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-23 Nineteen Group

Boulogne-Billancourt, France

Nineteen Group is an organizes of an International Security Expo event for the global homeland and commercial security industry. The company also organizes the International Disaster Response Expo, a showcase for the specialist global emergency response sector. Nineteen Group was established in 2007 and is based in Boulogne-Billancourt, France.

Buy -

Seller(S) 1

SELLER

Bowmark Capital

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 2.0B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

Bowmark Capital is a private equity firm that targets investments in smaller, growth-oriented companies based in the UK. Bowmark considers investments across a range of industries with a strong interest in Business & Financial Services, Consumer & Leisure, Education & Training, Healthcare, Media, and Technology. Bowmark funds individual equity investments of up to £200 million and focuses on investing in UK companies which are valued between £25 million and £300 million. Bowmark was formed in 1997 and is based in London, United Kingdom.


DEAL STATS #
Overall 20 of 30
Sector (Business Services) 1 of 2
Type (Secondary Buyout) 9 of 16
Country (United Kingdom) 18 of 28
Year (2018) 1 of 1
Size (of disclosed) 1 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-11 Instant Offices

London, United Kingdom

Instant Offices Ltd. is a provider of independent flexible workspace solutions. Instant provides alternative methods of office procurement and management, with specific focus on flexible workspace and medium-term lease solutions. Instant Offices Ltd. was founded in 1999 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-14 Pirum

London, United Kingdom

Pirum provides a secure, centralized automation and connectivity hub for global securities finance transactions, enabling complete automation of the post-trade and collateral lifecycle. Pirum was founded in 2000 and is based in London, United Kingdom.

Buy -