Federated Hermes Private Equity has announced an investment in Miura Partners’ Dent&Co fund. Along with a group of high-caliber institutional investors, including existing and new LPs, Federated Hermes has co-led the transaction alongside other leading secondary investors.
Federated Hermes Private Equity is an established global private equity investor with assets under management (AUM) of $6.4 billion (as of September 30, 2023) and a 30-year track record of investing in high-growth businesses. Since its founding, the organization has completed over 280 direct co-investments and secondary transactions. This deal represents the fifth GP-led secondary transaction completed by the team in Europe over the past 12 months.
Miura Partners raised the €200 million Dent&Co fund to provide more backing to drive the next growth phase for portfolio company Proclinic Group, a leading European dental distribution business. And private equity firm Miura Partners, based in Spain and with assets under management (AUM) of €1.5 billion, specializes in investing in small and medium-sized family-owned and entrepreneurial companies. Since 2008, Miura invested in over 70 companies for a total value of over €3 billion.
Moelis & Company (exclusive financial advisor), Baker & McKenzie and King & Wood Mallesons (Legal), PwC (Due Diligence), and L.E.K. Consulting (Commercial Advisor) advised the deal.
KEY QUOTES:
“We are excited to support Miura Partners and their Limited Partners as they re-invest into the Proclinic Group and work with CEO Manuel Alfonso and his management team to drive the next stage of the company’s development. The business represents a strong fit with our investment model, characterized by a resilient and growing end-market, strong customer value proposition and satisfaction, significant re-occurring revenues, and further internationalization and inorganic growth potential. Federated Hermes Private Equity is an active – albeit highly selective – backer of continuation funds and in Proclinic we were attracted by the strong rationale for continued ownership by Miura Partners, true price discovery and the excellent alignment of interests between sellers and buyers.”
– Cameron Payne, Principal & Co Head of EMEA Investment, Federated Hermes Private Equity
“With the support of Federated Hermes Private Equity and our other highly respected and reputed investors, we are excited to continue backing the growth of Proclinic. The support of investors such as Federated Hermes Private Equity is testament to the compelling opportunity presented for Proclinic to execute growth plans and consolidate the growing market through strategic acquisitions which add complimentary geographies and business lines.”
– Carlos Julià, Managing Partner at Miura Partners
