PLATFORM + ADD-ONS CLOSED
|
|
FULL/PARTIAL PORTFOLIO COMPANY REALIZATIONS
|
|
|
|
|
ACTIVE PORTFOLIO COMPANIES
|
|
|
KEEPING UP WITH LOVELL MINNICK
|
We’re excited to share highlights from Lovell Minnick Partners’ investment activity so far 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. Our team thrives 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 2023 will bring!
|
|
|
$4.3B Committed Capital Since Inception
50+ Portfolio Companies Since Inception
175+ Add-On Acquisitions Since Inception
|
|
|
PORTFOLIO COMPANY COMMENTARY (2)
|
|
|
|
|
“LMP’s experience, network, history with accelerating M&A strategies and emphasis on client and high-touch services make them an ideal partner to support Definiti’s growth.”
Tom Gaillard
CEO, Definiti
|
|
|
|
|
“The resources and support that LMP provided over the last four years have been instrumental in helping us achieve an ambitious set of growth objectives and differentiate ourselves in a competitive market.”
Tony Wanderon
CEO, National Auto Care, former LMP Portfolio Company
|
|
|
2023 YTD PLATFORM INVESTMENTS
|
LMP Completed Investments In:
|
|
|
|
|
In February 2023, we completed a majority investment in Definiti, a national retirement services firm that supports more than 8,000 workplace organizations and 10,000 retirement plans across the US.
Read more about our investment here and in an article in Mergers & Acquisitions.
|
|
|
|
|
In March 2023, we announced the successful recapitalization of Pathstone, an independently operated, partner-owned advisory firm offering comprehensive family office services and customized investment advice. The transaction includes a new strategic equity investment from Kelso & Company (“Kelso”), a leading private equity firm focused on partnering with middle market companies.
Read more about our investment here and in an interview with PE Hub.
|
|
|
|
|
In March, LMP closed on a majority stake in London & Capital, an independently owned, London-based, specialist wealth and asset manager working with private and institutional clients. Click here to read more about our investment.
|
|
|
2023 PE WIN: Private Equity Women Investor Network
|
In mid-May, LMP was thrilled to help sponsor Private Equity Women Investor Network’s (PEWIN) inaugural event in Seoul to celebrate its newest chapter. The organization provides an intimate forum for senior women general partners, limited partners and private equity professionals to network, share investment ideas, explore potential opportunities to work together, and generally increase the profile of female leaders in our industry. LMP’s Irene Hong Edwards, Partner, Head of Investor Relations, participated in the launch dinner.
|
Also in May, the LMP team, along with our portfolio company executives, gathered in-person for LMP’s Annual Executive Summit. We had a great time exchanging ideas and discussing key areas of focus for our teams, including value creation & driving growth, trends in human capital & culture, and generative AI. We greatly appreciate the contributions of all our portfolio executives and look forward to future collaboration.
|
2023 Investment Team Offsite
|
We were thrilled to bring our team together for this year’s offsite event in Nashville, Tennessee!
|
|
|
|
|
Definiti acquired Retirement LLC.
|
|
|
INVESTMENTS EXITED YTD 2023
|
On January 3rd, LMP announced the sale of National Auto Care (“NAC”) to APCO Holdings, LLC. This transaction marks the completion of a successful partnership between LMP and NAC that began just over four years ago. During that time period, NAC grew aggressively to become one of the leading national finance & insurance (“F&I”) platforms in the industry.
|
|
|
Our Partners' Perspectives in the Media
|
Here is a collection of industry leading publications who sought our Partners’ commentary on the market or covered Lovell Minnick news:
|
|
|
We also launched “LMP Spotlight”, our LinkedIn newsletter dedicated to shining a light on the partnerships, news, and trends that drive us at LMP.
Check out our inaugural edition highlighting our successful partnership with Foreside, a governance, risk, and compliance solutions platform for the investment services industry. We are proud to have supported Foreside along its growth journey and look forward to watching its continued development in the years to come.
|
|
|
Portfolio Company Highlights
|
Read on for some of this year's highlights from select portfolio companies:
|
|
|
In January, we announced the expansion of our leadership team with the promotions of Irene Hong Edwards and Timothy Rampe to Partner, as well as Lindsay Strait to Vice President, Cody Isdaner to Chief Compliance Officer & Counsel, Marji Hendler to Head of Administration, and Paul Mattson to Vice President of Finance.
|
|
|
Support in our Communities
|
|
|
On June 9th, we hosted our annual LMPhilanthropy Day, with our team volunteering in our local communities: talking about financial literacy at Beacon House in Los Angeles, mentoring students at City Squash in New York City, and prepping meals at Caring for Friends in Philadelphia.
|
And in April, employees from LMP’s Radnor office join in this year's American Lung Association Fight for Air Climb in Philadelphia.
|
|
|
Lovell Minnick Partners ("LMP") invests in growth-oriented companies. The firm partners with founders and leadership teams to accelerate value creation through organic growth and strategic acquisitions, positioning their businesses for long-term, sustainable success. LMP leverages its deep sector experience and broad network of strategic advisors to identify and execute multiple strategic levers to drive transformational growth.
Since LMP's inception in 1999, the firm has raised approximately $4.3 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.
We'd be glad to talk with you further about our business or the industry. You can contact us here.
For more information on our firm and our strategy, please visit www.LMPartners.com.
|
|
|
Endnotes & Important Disclosures
-
Proceeds generated through 5/15/23,and represents the total amount of proceeds generated from the sale of National Auto Care and the recapitalization of Pathstone, pro forma for the sale of Trea, which is signed and expected to close in early Q3’23.
-
Tony Wanderon is the CEO at National Auto Care (“NAC”), a former Fund IV portfolio company, who provided statements concerning NAC’s partnership with Lovell Minnick in a January 2023 press release following the announcement of Fund IV’s sale of NAC. Tom Gaillard is the CEO at Definiti LLC (“NAC”), a Fund V portfolio company, who provided statements concerning Definiti’s partnership with Lovell Minnick in a February 2023 press release following the announcement of Fund V’s acquisition of Definiti. Mr. Wanderon and Mr. Gaillard were not solicited to make such statements, neither has received any compensation or other benefit in exchange for providing these statements and neither is a current advisory client of Lovell Minnick or an investor in any fund sponsored by Lovell Minnick. While Lovell Minnick does not believe this creates a conflict of interest, Mr. Wanderon's and Mr. Gaillard’s relationships with Lovell Minnick have the potential to create a conflict of interest or otherwise influence the statements made by them about Lovell Minnick.
-
Except where otherwise noted, YTD figures presented herein are current through the date of this newsletter.
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.
-
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. The performance information relating to Lovell Minnick’s previous investments is not intended to be indicative of a fund’s future results. Past performance is not necessarily indicative, or a guarantee, of future results. There can be no assurance that a fund will achieve comparable results as those presented or that investors in a fund will not lose any of their invested capital. Under no circumstances should these videos be construed as an offer to sell, or a solicitation to buy, any security or as opinions regarding the provision of investment advisory services by Lovell Minnick.
-
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.
|
|
|
Our Offices:
Philadelphia / 555 E. Lancaster Ave / Suite 510 / Radnor, PA 19087
Los Angeles / 215 Manhattan Beach Blvd / 2nd Floor / Manhattan Beach, CA 90266
New York / 1155 Ave of the Americas / Suite 2550 / New York, NY 10036
|
This email was sent to *
Please add us to your contacts to help future emails land in your inbox.
|
|
|
|
