CBPE is delighted to announce it has realised its investment in Centralis to HGGC, generating a return of c.5.3x MoC for Fund IX.
CBPE is pleased to announce it has realised its investment in Centralis, a leading international alternative asset and corporate services provider, to HGGC, a middle market private equity firm based in Palo Alto, California. The transaction marks CBPE’s second successful investment in the sector, having listed international corporate services provider JTC on the London Stock Exchange Main Market in 2017.
CBPE partnered with the management team in a primary buyout of Centralis in May 2020. The last five years have seen significant investment in the business, with headcount growing from 134 to 440 along with new systems and technology to support future sustainable growth. Alongside continued double-digit organic growth, the business has completed and integrated seven acquisitions since CBPE invested. These acquisitions have expanded Centralis’ presence within alternative assets, a large and growing end market, alongside its existing client base of blue chip multi-national corporates. Combined organic and inorganic growth has led to revenue increasing over threefold under CBPE’s investment. The transaction is expected to generate a return of 5.3x MoC for CBPE Fund IX, dependent on the timing of completion.
It has been a pleasure to work with Aidan and the team over the last five years. The business has developed and grown significantly over this time, while retaining the commitment to exceptional client service which is at the heart of its success. We wish them every success on the next stage of their journey.
We selected CBPE as a partner because of their knowledge and experience of our sector, and of supporting professional services firms with ambitious growth plans. They have been a true partner to Centralis at every step of the way. I am proud of what we have achieved over the last five years, and am excited to be continuing onto the next stage with HGGC.
The transaction is subject to regulatory approval. Terms of the transaction were not disclosed.
CBPE’s investment in Centralis was led by Ian Moore, with support from Adam Richardson and Maximilian O’Connell.
The transaction was supported by Baird (M&A), Reed Smith (Legals), PWC (FDD, IT, Operations, Tax), Oliver Wyman (CDD), Kroll (Regulatory), Gallaghers (Insurance) and Anthesis (ESG). Management were advised by SPB (Legals) and Liberty (Corporate Finance).
