Houlihan Lokey Advises CGE Partners

Houlihan Lokey is pleased to announce that it has advised CGE Partners (CGE) on its acquisition of Enhesa from Waterland Private Equity (Waterland). The transaction was announced on July 20, 2020. The financial terms of the deal have not been disclosed.

Enhesa is a fast-growing provider of global environmental, health, and safety (EHS) compliance intelligence. Its platform provides mission-critical information services and actionable content to many of the world’s biggest companies on a recurring subscription basis, helping them to understand, act on, and comply with local EHS regulations. Enhesa is the global leader in its industry, using its team of 75 multilingual analysts to provide clear, frequently updated advice on EHS regulations. The company helps develop and deliver industry-benchmark tools, provides audit and management support, and offers key regulatory intelligence for more than 290 jurisdictions.

Headquartered in Brussels with offices in the U.S., Asia, and Europe, Enhesa has an international reach and comprehensive global regulatory expertise, offering a complete solution to help its clients ensure compliance, manage risk, save time, and increase the quality and effectiveness of their EHS and product compliance programmes.

Founded in 2019, CGE is a new European mid-cap buyout fund, with €440 million raised to invest in strongly performing assets in Western and Northern Europe—but with a global reach. The company seeks to invest in high-margin businesses with strong growth potential, backing ambitious management teams with a proven track record and a clear vision. CGE principally invests in majority buyouts of established businesses with an enterprise value of up to €200 million, with a focus on business and technology services. The company has a fresh approach to mid-cap private equity investments—providing “more than just money” through its expert Operator Panel—and having the flexibility to hold investments for the longer term.

Waterland is an independent investment firm that supports entrepreneurs in realising their growth ambitions. The firm currently manages a committed capital of €6 billion and has offices in Antwerp, Belgium; Bussum, Netherlands; Munich and Hamburg, Germany; Zürich, Switzerland; Warsaw, Poland; Manchester, England; Dublin, Ireland; and Copenhagen, Denmark.

Houlihan Lokey served as the exclusive corporate finance advisor to CGE. This transaction adds to the extensive track record of Houlihan Lokey’s Data & Analytics Group and recent successes in the segment, including the sales of Enviance to Cority Software; eVision to Wolters Kluwer; PowerAdvocate to Verisk Analytics; Fulcrum Financial Data to Fitch Group; and Bureau van Dijk to Moody's. The Bureau van Dijk transaction was closed at Quayle Munro prior to its acquisition by Houlihan Lokey to establish the Data & Analytics Group.