12.31.21 | News

Renovus Capital Partners Closes on $500 million for its Third Buyout Fund

WAYNE, PA (December 31, 2021) – Renovus Capital Partners (“Renovus”), a Philadelphia-area private equity firm, announced the closing of its third buyout SBIC fund and a parallel non-SBIC fund (collectively, “Fund III”). The Fund was oversubscribed and quickly reached its hard cap as a result of strong support from its limited partners. Fund III’s key limited partners include a diverse base of university endowments, banks, insurance companies, family offices and industry executives.

Renovus, which was founded by three long-term colleagues Brad Whitman, Atif Gilani and Jesse Serventi, has invested in over 50 companies since its inception. The firm has pursued a buy-and-build strategy by acquiring founder-owned businesses, professionalizing their management teams and operations and scaling the companies through acquisitions and organic growth initiatives.  Renovus focuses on four target markets within the Knowledge and Talent sector: education and training, technology services, B2B healthcare services and professional services.

“We are grateful for the support of our existing investors and welcome our new partners with whom we are committed to building a long and productive relationship,” said Atif Gilani, Renovus Founding Partner. Fellow co-founder Jesse Serventi added: “We remain committed to producing superior outcomes for our portfolio company partners and investors alike.”  Brad Whitman, the third founder, concluded with: “We’re excited to continue investing in our team and infrastructure in support of our dedication to outperformance across Fund III and beyond.”

Like its predecessor funds, Fund III will focus primarily on control investments in the Knowledge and Talent industries in the lower middle market. Fund III has already made two platform investments and expects to close additional investments by the year end.

About Renovus Capital

Founded in 2010, Renovus Capital Partners is a private equity firm specializing in the Knowledge and Talent industries. Renovus, based in the Philadelphia area, manages $1 billion across several investment vehicles. The firm’s current portfolio includes over 20 U.S. based businesses specializing in education and training, B2B healthcare services, technology services and professional services. Renovus typically partners with founder-led businesses, leveraging its experience within the industry and access to debt and equity capital to make operational improvements, pursue add-on acquisitions and oversee strategic growth initiatives. More information can be found at www.renovuscapital.com.