THL has agreed to acquire Standish Management
Investment firm THL has struck a deal to acquire Standish Management. The fund management business, including its debt, was worth USD 1.6bn.
The buyer got selected at an auction. Other investment firms wanted to acquire the company, but Standish Management approved THL’s offer. The seller of the management business is the investment firm Vitruvian Partners from London. It is it that owns the controlling stake. The company became an investor in Standish in 2020 and has been funding it regularly since then. According to several sources, the company’s management owns 45% of the shares and plans to keep its stake unchanged.
Scope of Standish Management’s business
Founded in 2006, Standish provides fund management services. From an investment perspective, this market niche is extremely attractive. In this case, the buyer receives a predictable amount of income and good opportunities to develop the business. Standish has over USD 450 billion in assets under management. The company provides fund management services across a range of specialisms. Specialists implement innovative solutions to improve operational efficiency and expand business opportunities. Standish works with financial services, technology, real estate and other industries. The company’s services include:
– support in the preparation of financial statements;
– audit and tax documentation;
– accounting services;
– management and capital raising;
– AML and KYC support.
The company’s staff consists of highly qualified financiers and accountants who provide comprehensive support to each client. The specialists have an individual approach, which enables them to provide a high level of service, regardless of the size of the business and the complexity of the task.
Information about the buyer
THL (Thomas H. Lee Partners) was founded in 1974. It specialises in investing in relatively small companies in financial technology, services, healthcare and other sectors. Throughout its history, THL has:
– raised more than USD 34 billion in equity capital;
– invested in 160 companies;
– completed nearly 500 acquisitions with a total value of USD 210 billion.
The company is one of the top 300 investment companies in terms of capital raised. In 1984, THL established its first fund. Its capital was USD 66 million. This is the company’s ninth fund. In addition to its core investment funds, the firm also manages specialist funds. The latest of these is the USD 900 million Automation Fund, launched in 2021.