Parthenon capital is a private equity firm that invests in growth-stage companies in services industries. They prefer companies with recurring revenue, defensible niches, unique value propositions, and proprietary know-how.
The Parthenon features ninety-two metopes depicting scenes of mythological battle, representing a civil war between Lapiths and Centaurs – part human, part horse – who lived within its walls.
The firm’s investment strategy
Parthenon Capital Partners invests in growth-stage service industry companies. Utilizing niche industry experience and its deep execution team, Parthenon works alongside management teams. Their expertise includes technology adoption and disruption, outsourcing payments, data solutions, payments technology adoption, and technology disruption. Located in Boston, MA, with satellite offices in San Francisco and Austin.
Parthenon Investors VII closed with $4.5 billion in commitments; Ropes & Gray and Kirkland & Ellis provided advice. Among the 55 investments held by Parthenon are data analytics and risk management solutions provider ADESA and global steel supplier Cherry Bekaert, advised by Ropes & Gray and Kirkland & Ellis, respectively.
Payments companies are seeing increasing attention from private equity, venture capital, and hedge funds, leading to valuation increases and price tag inflation – making it harder for sellers to turn a profit when selling these companies. Parthenon has been one of the major players in this space with recent investments, including payments processor BillingTree and cross-border payment platform BlueSnap.
Dan Killeen is a senior member of Parthenon’s healthcare investment area and has led multiple investments within this space since joining in 2021. He is responsible for sourcing, evaluating, and supporting healthcare services investments. He previously served as principal at Nautic Partners before leading them from leadership roles at Anthem Inc. Dan holds a B.A from Dartmouth College.
The firm’s portfolio companies
Parthenon Capital Partners is a private equity firm specializing in growth-oriented middle-market companies. They specialize in recapitalization transactions and supporting strong management teams, and their portfolio includes businesses in financial services, business services, and healthcare services sectors. Furthermore, the Parthenon offers non-discretionary investment sourcing services.
Parthenon Capital Management has an impressive track record of successfully exiting portfolio companies, producing attractive returns for investors. Their investment strategy is proven to create valuable businesses with highly scalable operations; furthermore, their extensive network of relationships within the financial services industry allows access to the latest opportunities for their portfolio companies.
Titan Wealth, a premier UK wealth management firm, has secured an investment from US-based private equity firm Parthenon Capital that will support their company’s expansion and client services. Titan’s existing shareholders, Ares Hambleden Capital Partners and Maven Capital Partners, will remain fully invested.
Parthenon Capital was established in 1998 as a private equity firm dedicated to supporting management teams and investing in their companies. Leveraging its niche industry expertise and deep execution team, Parthenon acquires growth-oriented middle market companies across various industries. Investments include business products and services, outsourcing payments, and data analytics. Parthenon has offices located in Boston, San Francisco, and Austin.
Parthenon Capital Fund has successfully raised more than half its $5 billion goal with investors supporting Parthenon’s strategy of buying companies with market caps of $500 million to $3 billion and taking them public or selling them for much more significant sums, taking them public or selling for more outstanding sums has resulted in doubled or tripled returns over five to seven years.
Parthenon invests not only in its funds but also in other LP-owned funds and co-invests with strategic partners. Among its most frequent investment sectors are business and healthcare services; additionally, Parthenon holds small investments with Zero Stage Capital, Susquehanna Growth Equity, and Imperial Capital funds.
The firm’s management team
Parthenon Capital Partners was established in 1998 as a private equity firm dedicated to investing in management teams and their companies. Specializing in outsourcing, payments, data analytics, and healthcare services sectors, Parthenon has an expansive portfolio that comprises more than 40 public and private companies, led by experienced executives with experience in technology, business, and investing.
This company is well-known for partnering with management teams to form franchise companies in the services sector, investing in companies with innovative or disruptive solutions, and having over 50 employees in Boston, MA. Titan Wealth was recently acquired, offering execution, custody, and clearing services to small to mid-sized broker-dealers, proprietary traders, family offices and institutions, platform services, and investment solutions to family offices, advisors, and intermediaries.
Parthenon Capital’s management team comprises experts across multiple industries with experience in finance, technology, operations, and strategy. With expertise in mergers and acquisitions and structuring complex transactions – Parthenon has an established track record with investments in financial services and insurance sectors and middle solid market capabilities.
Parthenon’s investment approach focuses on building value propositions in each of its portfolio companies. It is founded upon the belief that creating value is achieved through strategic vision, leadership, and operational execution combined with best practices and technology, helping companies expand their businesses while creating wealth for investors.
Parthenon Capital Partners’ management team comprises male and female executives with extensive technology, financial services, and energy industry expertise. Due to this diversity, their collective background allows them to understand their clients’ challenges while making strategic recommendations that will enhance company performance. Furthermore, Parthenon’s due diligence process ensures all companies they invest in will succeed over time.
The firm’s investment process
This firm seeks investments with recurring revenue streams, defensible niches, and substantial competitive advantages that provide them with significant recurring revenues. They prefer growth-oriented middle-market businesses operating across industries like business services, financial services, and healthcare as potential targets of investments. Their preferred investment transaction types include equity recapitalizations executed with strong and well-aligned management teams in close cooperation.
Parthenon Capital Partners was established in 1998 and headquartered in Boston, Massachusetts. Operating as a private equity firm, its investment team utilizes its industry knowledge and excellent execution skills to explore complex, multifaceted value-creation opportunities. They specialize in recapitalizations, acquisitions, and growth capital financing to serve clients worldwide.
Parthenon Capital Partners specializes in investing in service-based businesses with recurring revenues and an attractive value proposition through equity recapitalizations, acquisitions, and management buyouts. Their portfolio features companies with enterprise values ranging from $50 million to $750 million and has offices in Boston and San Francisco.
Parthenon Capital Partners announced its investment in Titan Wealth Holdings, a UK-based wealth management platform, during the first quarter of 2022. This was its inaugural platform investment there, and Parthenon plans to partner with Titan to enhance client service and technology capabilities while further supporting its expansion through additional platform investments.
Parthenon Capital Partners has made several significant investments in the payments sector over time, such as payment processor Payroc. They have also funded numerous payments-related startups like BillingTree and BlueSnap acquired payments-technology assets like Cayan; their investments have proved fruitful over five to seven years, yielding multiple times their gross returns as returns from investments were realized multiple times over.
