Houlihan Lokey Advises Synova on GP Stake Sale to Bonaccord

Houlihan Lokey is pleased to announce that Synova LLP has sold a GP Stake to Bonaccord Capital Partners (Bonaccord). Houlihan Lokey served as the exclusive sellside financial advisor to Synova.

The GP Stake transaction further solidifies Houlihan Lokey’s dominance in middle-market GP advisory, with five executed transactions to date in 2023.

Synova, a leading European middle-market private equity firm headquartered in London with an additional office in New York, has agreed to sell a passive minority equity GP Stake to Bonaccord.

Founded in 2007, Synova is recognized as one of Europe’s most innovative private equity and growth investors, maintaining a tireless focus on working with exceptional companies to drive growth within its core focus verticals of software and data, health, tech-enabled services, and financial services. Synova has generated market-leading returns since inception. Further validating its position as an industry leader, Synova was named “UK Private Equity House of the Year” at the 2022 Private Equity Awards and has been ranked as both the Top Performing Private Equity Fund Manager and the Top Performing Buyout Fund Manager in Europe in 2023 by Preqin.

As a strategic minority investor in Synova, Bonaccord plans to support the firm through its global institutional network while providing additional capital to further Synova’s growth plans. Synova will use the proceeds from the transaction to further invest in existing Synova investment strategies, and to support the future growth of the company. There will be no changes in the strategy, management, investment process, or day-to-day operations of Synova or any Synova-managed products resulting from Bonaccord’s investment.

Founded in 2017 and headquartered in New York, Bonaccord is a private equity firm focused on acquiring noncontrol equity interests in middle-market private markets sponsors spanning private equity, private credit, real estate, and real assets. By leveraging its strategic relationships, institutional capabilities, and strategic development expertise, Bonaccord seeks to support transformative initiatives that help its portfolio companies reach their potential and establish enduring institutions.

Houlihan Lokey served as the exclusive financial advisor to Synova and assisted in structuring and negotiating the GP Stake. This transaction represents an additional successful engagement for Houlihan Lokey’s market-leading GP Advisory platform.