Kingswood Capital Management announced that Bonaccord Capital Partners has made a passive minority investment in the firm. The investment is intended to expand Kingswood’s capital base and support reinvestment into the business. Kingswood stated that there will be no changes to its leadership, investment strategy, or day-to-day operations following the transaction.
Kingswood is a private equity firm based in Los Angeles focused on acquiring middle-market companies where operational improvements can drive value creation. The firm has experienced significant growth in recent years, having completed three institutional fundraises since 2021.
Its most recent vehicle, Fund III, closed in the summer of 2024 with total commitments of $1.5 billion, above the initial target of $1.0 billion, and was completed in just 90 days. Kingswood has also pursued notable acquisitions, including Kodak Alaris and The Vitamin Shoppe, and most recently completed its largest transaction to date with the acquisition of Drive DeVilBiss Healthcare on November 3.
Bonaccord focuses on providing strategic resources and growth capital to private market investment managers. Through this investment, Kingswood will have additional flexibility to support its long-term growth while maintaining its established investment philosophy.
Houlihan Lokey served as financial adviser to Kingswood, with Kirkland & Ellis LLP acting as legal counsel. Sidley Austin LLP served as legal counsel to Bonaccord.
KEY QUOTES:
“Bonaccord’s investment marks a significant milestone in our journey and a meaningful vote of confidence in our differentiated approach and vision for the future. I and the Kingswood team are looking forward to working with Bonaccord to further develop and reinvest into our business while staying true to our investment strategy.”
Alex Wolf, Founder and Managing Partner of Kingswood
“We are thrilled to have the opportunity to partner with Kingswood to support the next stage in its evolution. We believe that Kingswood’s exceptional investment track record, level of LP engagement, and growth to-date are truly differentiated in an increasingly competitive market. We look forward to applying our value creation resources and mid-market domain expertise to help advance Kingswood’s long-term vision for success on behalf of the firm and its LPs.”
Ajay Chitkara, Managing Partner at Bonaccord
