We’re excited to share some of the recent highlights from LMP’s investment activity this year. We at LMP continue to focus on driving steady growth across our portfolio and seek to deliver strong risk-adjusted returns for our investors. We thrive on partnering with founders and leadership teams to accelerate value creation through organic growth and strategic acquisitions, positioning their businesses for long-term, sustainable success.
We are incredibly thankful for the support from our investors, family, and friends, and we look forward to what the rest of 2024 will bring!
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PORTFOLIO COMPANY ADD-ONS
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ADVISORY COUNCIL MEMBERS ADDED +
PROMOTIONS
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ACTIVE PORTFOLIO COMPANIES
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BABIES, WEDDINGS, ENGAGEMENTS
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$4.89B Committed Capital Since Inception
50+ Portfolio Companies Since Inception
175+ Add-On Acquisitions Since Inception
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“LMP has been there from the beginning, from the strategic planning position, from day one all the way to now, 4+ years later, continuing to help us rethink and create value for the next version of our journey. I found the collaboration across the ecosystem to be amazing. It is one place where I feel like I'm working with the private equity firm and not for the private equity firm.”
– Greg Cohen, CEO, Fortis(1)
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10 Portfolio Company Add-Ons YTD!
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Read on for more information on select transactions:
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Our Partners' Perspectives in the Media
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In February, LMP was named a recipient of BluWave’s 2024 Private Equity Innovator Awards(2) for the second year in a row! This award recognizes the top 2% of private equity firms that differentially embrace proactive due diligence, transformative value creation, modern private equity firm operations and corporate citizenship practices. Read more about the recognition here.
Check out the third edition of “LMP Spotlight”, our LinkedIn newsletter dedicated to shining a light on the partnerships, news, and trends that drive us at Lovell Minnick Partners (LMP). This latest edition highlights our successful partnership with Fortis, a technology-driven, integrated commerce business that provides software developers and businesses with payment processing capabilities. We have had great success working with the Fortis team over the past four years and are excited for what’s to come of our partnership in the future.
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Portfolio Company Highlights
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Read on for some of this year's highlights from select portfolio companies:
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Each year we gather with our portfolio company leaders, a valuable opportunity to come together and, along with our Investment Team, discuss the opportunities and dynamics facing their companies and the industry. This year's event included engaging discussions on topics such as Human Capital Management, Offshoring, Cybersecurity and Business Building resources.
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Our team was thrilled to be together in Florida for our 2024 Team Offsite.
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At the start of 2024, we announced the well-deserved promotions of Spencer Hurst to Principal, Mark Adelman to Vice President of Operations, Kayla McGrail to Senior Accountant, and Katie Woeger to Executive Assistant. Stefi Topi, following an internship with us last summer, has joined us as Investor Relations Analyst.
In addition, we welcomed 4 experienced industry executives Richard Fuchs, Ron Garrow, Marshall Lux and Robert Orefice to LMP's Advisory Council* this year, further reinforcing LMP's commitment to leveraging the expertise of industry leaders to navigate the evolving landscape of financial services, financial technology and business services to deliver value to our investors and portfolio companies.
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*Advisory Council Members are independent contractors that are advisors to Lovell Minnick Partners and portfolio companies of Lovell Minnick. They are not employees of Lovell Minnick entities.
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Lovell Minnick Partners (“LMP”) invests in growth-oriented companies. We partner with founders and leadership teams to accelerate value creation through organic growth and strategic acquisitions, positioning their businesses for long-term, sustainable success. We leverage our deep sector experience and broad network of strategic advisors to identify and execute multiple strategic levers to drive transformational growth.
Since our inception in 1999, we have raised over $4.89 billion of committed capital, invested in over 50 companies and completed over 175 add-on acquisitions. LMP targets growth-oriented, middle-market companies in the financial services, financial technology and business services sectors.
If you’re interested in learning more about our firm, strategy or any of the insights included in this newsletter, you can contact us here.
For more information on our firm and our strategy, please visit www.LMPartners.com.
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Endnotes and Important Disclosures
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Endnotes & Important Disclosures
(1) Greg Cohen serves as CEO of Fortis, a Lovell Minnick portfolio company, and is a member of Lovell Minnick’s Advisory Council. Mr. Cohen was asked by Lovell Minnick to discuss Fortis’ partnership with Lovell Minnick. He has not received any compensation or other benefit in exchange for providing these statements. However, Advisory Council members are independent consultants to Lovell Minnick and also provide consulting and other services to Lovell Minnick’s funds and portfolio companies. Depending on the nature and recipient of such services, Advisory Council members are compensated for such services by Lovell Minnick directly, the relevant portfolio company or otherwise directly from the relevant Fund (including, in some instances, directors’ or similar fees, equity interests in portfolio companies and/or other remuneration or reimbursements). Mr. Cohen is also a current investor in one or more funds sponsored by Lovell Minnick. Mr. Cohen’s relationship with Lovell Minnick has the potential to create a conflict of interest or otherwise influence the statements made by him about Lovell Minnick, and his views are not necessarily indicative of the views of other portfolio company executives or investors in Lovell Minnick funds.
(2) The 2023 and 2024 BluWave Top Private Equity Innovator Awards were released on 2/15/2023 and 2/21/24, respectively. Recipients were selected through a rigorous assessment in consultation with leading limited partners, investment bankers, and other thought leaders in the private equity ecosystem. BluWave has not received investment capital from, nor received any compensation from any of the PE firms in connection with this awards program. However, BluWave may otherwise provide services to the PE firms and/or portfolio companies, but BluWave confirms that its assessment of the PE firms was independent of any such service arrangements. Top 2% in the PE industry is based on BluWave’s review of the more than 5,000 PE firms in the U.S. and Canada from which 82 PE firms were selected as award recipients in 2024. For more information about the selection criteria and process, please visit: www.bluwave.net/awards.
• Except where otherwise noted, figures presented herein are current through 6/27/24.
• The information in this newsletter should be held in strict confidence and not copied, shared or distributed to any third party without the express prior written consent of Lovell Minnick.
• Inclusions on lists, rankings or awards may not be representative of a particular investor’s experience or Lovell Minnick’s or its Funds’ future performance, and there is no guarantee that similar rankings or awards will be obtained by Lovell Minnick in the future.
• The content of this newsletter is for general, informational purposes. This newsletter is not an offer to sell nor a solicitation of an offer to purchase interests in any fund sponsored by Lovell Minnick or its affiliates. Offers and sales will be made only pursuant to confidential private placement memoranda, complete documentation of the relevant vehicle and in accordance with applicable securities laws.
• This newsletter includes information regarding Lovell Minnick Partners’ past and present portfolio companies, including the opinions of past and present Lovell Minnick and portfolio company personnel regarding Lovell Minnick’s partnering capabilities which are intended to be viewed by potential portfolio company executives. It should not be assumed that investments made in the future will be comparable in quality or performance to the investments described herein. Further, references to Lovell Minnick Partners’ past and present portfolio companies should not be construed as a recommendation of any particular investment or security. The portfolio companies listed should not be assumed to have been profitable. Any past performance information in the newsletter is not necessarily indicative, or a guarantee, of future results.
• The portfolio companies represented in this newsletter were chosen to illustrate Lovell Minnick’s investment experience and the processes and approaches used by Lovell Minnick in the past with respect to its portfolio companies and investment funds, and does not purport to be a full list of investments by Lovell Minnick funds. A complete list of portfolio companies is available on Lovell Minnick’s website (www.LMPartners.com).
• Investments in private equity funds such as the Lovell Minnick funds are speculative and involve substantial risk of loss. No assurance can be given that a fund will achieve its investment objectives or avoid substantial losses. Information about any Lovell Minnick fund and investments made by such fund, including past performance of such funds and investments, is provided solely to illustrate Lovell Minnick’s investment experience, and processes and strategies used by Lovell Minnick in the past with respect to such funds.
• These disclosures apply only to this newsletter and not to other websites that may be accessible from the newsletter and Lovell Minnick shall not be responsible for the content of any third-party website accessible from this newsletter. If you access any third-party website through this newsletter, you do so at your own risk and we encourage you to review the privacy policies and user agreements of all other websites that you visit as such policies and agreements will govern your use of those websites.
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Copyright © 2024 Lovell Minnick Partners All rights reserved.
Our Offices:
Philadelphia / 555 E. Lancaster Ave / Suite 510 / Radnor, PA 19087
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