Customized equity solutions company Audax Strategic Capital (ASC) has announced an investment in Amtivo, a global B2B provider of accredited certifications and assurance services and a portfolio company of Charterhouse Capital Partners. The terms of the deal were not disclosed.
Launched in 2017 and based in London, Amtivo provides accredited certification, and training, specializing in management-system certification. And through its services, Amtivo aims to build high-performing and sustainable organizations that deliver for their customers, employees, investors, and the communities in which they operate.
Since Charterhouse’s original investment in Amtivo a couple of years ago, the company has completed nine acquisitions, while delivering strong organic revenue growth and margin expansion. And ASC’s funding – which takes the form of common equity – helps to equip Amtivo for future M&A in pursuit of geographic and potential product line expansion as the company grows its presence in the certification and assurance market.
Ropes & Gray provided legal counsel to Audax for this deal.
KEY QUOTES:
“We’re excited to back Amtivo as they look to build on the considerable momentum they’ve achieved under Charterhouse’s ownership. We believe Amtivo is well positioned to capitalize on the compelling tailwinds in the certification and assurance market. The experience of the Audax Private Equity platform and the flexibility of the ASC offering has allowed us to move quickly to support Amtivo’s future growth.”
– Daniel Green, Managing Director at Audax Strategic Capital
“This is a typical mid-hold investment for our ASC strategy. We’re backing a proven sponsor in the middle market that will utilize incremental capital provided by ASC in an effort to execute on an attractive and actionable pipeline of M&A opportunities. This represents ASC’s second investment in Europe and fifth overall during the past 12 months.”
– David Wong, Partner at Audax Private Equity
“We’re excited to partner with Audax on this investment. With the resources and collaboration of the investor group, we believe the pieces are in place for Amtivo’s next phase of accelerated growth.”
– Stephan Morgan, Partner at Charterhouse
