08.10.22 | News
Renovus 2022 Mid-Year in Review
Renovus has remained highly active in 2022, making new platform and add-on investments, completing a significant exit, building the team and launching new strategic initiatives.
We have achieved our progress through the committed work of our team of 22 professionals, many of whom joined us this past year. We continue to focus heavily on building the team and welcome continued referrals, particularly at the investment associate and senior associate levels and for our investor relations department.
Our year-to-date activities are summarized below. We look forward to making the remainder of 2022 similarly productive.
Firm Updates
Expanded Office Space
Renovus added 2,200 sf in its office to accommodate team growth.
New Website
In April, Renovus launched a new website with the latest features and functionality.
Renovus was ranked #3 in a study of global lower mid-market PE managers by HEC Paris Dow Jones as published on April 26, 2022.
ESG Initiatives
Renovus launched its partnership with Novata, a new vendor in the ESG space.
(1) HEC Paris-Dow Jones ranked firms based on data compiled from Preqin or directly from PE firms for activity from 2008-2017. Rankings based on proprietary methodology that calculates aggregate performance of a PE firm across vintage years and considers relative and absolute returns. Renovus Capital Partners did not provide any compensation to HEC Paris-Dow Jones or Preqin to be included or ranked in the study.
New Platform Investments
Renovus invested $95 million into four new platform investments.
Curtis Learning and MC3, Renovus created a new platform by combining these two Philadelphia-based businesses. Together, they form a leading provider of scientific training and custom events for the life sciences industry, delivering world class content in both live and virtual settings.
Similar to MC3 and Curtis Learning, Renovus created a second new platform through the combination of LAC Group and Wilson Allen. Together, they are a leading provider of intelligence, research, and IT services to legal and corporate clients across the United States and Canada.
ProfitOptics is a digital transformation company that leverages its proprietary software and custom product development capabilities to automate clients’ manual workflows and help them achieve their business and profit targets.
SolomonEdwards is a national professional services firm focused on consulting and strategy execution for the finance and accounting departments of its national base of enterprise clients.
Exits
Renovus completed the sale of Pragmatic Institute to MidOcean Partners. During Renovus’ investment period, Pragmatic grew from a provider of six in person product management courses to a provider of nearly twenty courses delivered in person and online across product, data science, and design management.
Add-on Acquisitions
In addition, Renovus’ existing platform investments achieved greater scale through making two strategic add-on acquisitions to date in 2022:
Renovus Platform
Industry Vertical
Add-on Acquisition
Healthcare/Technology Services
Team Growth
Jane Buckley
Promoted to Senior Associate
Ruchi Hazaray
Joining as Principal, August ’22
Pat Heath
Joined as Senior Associate
Morgan Heller
Joined as Analyst
Goda Naudziunaite
Joined as BD Analyst
Jean Tucker
Joined as Compliance & Investor Relations Advisor
Renovus continues to build the team in 2022. Please contact recruiting@renovuscapital.com if you are interested or would like to recommend someone.
Looking to the Second Half of 2022
Renovus is evaluating several new platform and add-on acquisition targets, as well as potential successful exits even in this more challenging market environment. We are busy planning our annual investor meeting and are constantly evolving our long-term strategic plan for the firm.
We are committed to the continued success of the firm for our limited partners, portfolio companies, key stakeholders, and Renovus team members. We look forward to working with you in the remainder of the year.