Synova Capital

Synova Capital is a private equity firm specialising in investments in UK and Irish growth companies. The firm manages £750m of capital on behalf of institutional investors and family offices and invests across four sectors: Technology, Healthcare and Education, Business Services and Financial Services.[1] Synova is focused on working with management teams to accelerate growth and drive exceptional returns.

Synova Capital
Limited liability partnership
IndustryPrivate equity, venture capital
Founded2007
FoundersDavid Menton
Philip Shapiro
Headquarters
London
,
United Kingdom
Area served
United Kingdom
ProductsVenture capital, private equity funds, equity investment, management buy-in, management buyout
AUM£750 million
Websitewww.synova-capital.com

The firm was named House of the Year at the 2019 British Private Equity Awards, the third time in six years Synova has won this prestigious accolade. [2] [3]

Synova was founded in 2007 by its managing partners, David Menton and Philip Shapiro. Synova's other partners include Tim Ashlin, Alex Bowden, Daniel Parker and Zachary Tsai.

Synova's 2007 Fund I was fully realised in 2018 generating a 4x return for investors. Synova's £110m 2013 Fund II has now returned three times its total invested capital following exits in 2018 and 2019 with only half the fund realised. Synova closed its 2016 third fund at £250 million which is performing strongly and recently closed its 2019 fourth fund at its £365m hard cap.

2018 was a strong year for exits for Synova with the sale of software company Mandata to LDC generating a 8x return and the sale of medical imaging business 4ways to ECI for a 6x return and 75% IRR. This followed the sale of Kinapse to Hg Capital on 1 February 2016, generating a 16x return and a 126% IRR. Other notable exits include dbg for 6x cost and TLG for 3x cost.

2019 continued in the same vain for Synova with further exits from Fund II including the £268m sale of Stackhouse Poland to AJ Gallagher for a 5.6x return, the £150m sale of Meritsoft to Cognizant for a 4.0x return and the £73m sale of Defaqto to SimplyBiz plc for a 3.9x return.

Current and past* investments
Company Year of investment Return Sector
TLG Brands* 2008 - Exited 2016 3.0x [4] Consumer
Clearwater Care* 2009 - Exited 2017 2.5x [5] Healthcare
dbg* 2010 - Exited 2013 5.8x [6] Healthcare
Kinapse* 2012 - Exited 2016 16.1x [7] Healthcare
Mandata* 2013 - Exited 2018 8.0x [8] Technology
MK Test 2014 Technology
Stackhouse Poland* 2014 - Exited 2019 5.6x [9] Financial Services
Defaqto* 2015 - Exited 2019 3.9x [10] Technology
4Ways Healthcare* 2015 - Exited 2018 6.0x [11] Healthcare
Merit Software* 2015 - Exited 2019 4.0x [12]
Vistair 2015 Technology
Clyde Munro Dental 2015 Healthcare
Travelsmart 2015 Technology
Fairstone 2016 Financial Services
Oakland 2016 Healthcare
Avantra 2017 Technology
AllClear 2018 Financial Services
Mintec 2018 Technology
Chatsworth Schools 2019 Education
Pacifica 2019 Business Services
Mediatonic 2019 Technology
Preventx 2019 Healthcare
Charnwood Molecular 2020 Healthcare
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References
  1. "Our Focus", Synova Capital. Retrieved on 6 July 2013.
  2. https://www.synova-capital.com/press-releases/synova-named-house-of-the-year-for-third-time-in-six-years/
  3. https://www.britishprivateequityawards.com/2019-winner
  4. https://realdeals.eu.com/article/synova-bags-3x-money-return-from-tlg
  5. https://realdeals.eu.com/article/synova-clearwater-salutem
  6. https://www.altassets.net/private-equity-news/by-news-type/deal-news/synova-capital-gets-first-fund-off-to-a-flyer-with-5-8x-dbg-exit.htm
  7. https://www.privateequityinternational.com/synova-nets-16-1x-on-kinapse-sale/
  8. https://www.wsj.com/articles/synova-nets-8x-return-on-20-million-sale-of-mandata-to-ldc-1525192447
  9. https://www.nsinsurance.com/news/arthur-j-gallagher-stackhouse-poland/
  10. https://hl.com/about-us/transactions/transaction-detail/17179870903/
  11. https://www.alantra.com/ib-transaction/synova-capital-llp-sell-side-advisory-4-ways-healthcare-limited-eci-partners-llp/
  12. http://realdeals.eu.com/article/synova-banks-4x-money-with-meritsoft-sale-to-cognizant/feed/ | Technology
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