NEW YORK, Nov. 02, 2022 (GLOBE NEWSWIRE) — Bonaccord Capital Partners (“Bonaccord”), a private equity business focused on acquiring non-control equity interests in middle-market private markets sponsors, today announced that it has acquired a passive minority equity interest in VMG Partners (“VMG”), a private equity firm focused on partnering with entrepreneurs and managers to support the growth and strategic development of leading branded consumer product and technology companies through its Growth and Catalyst funds.
Bonaccord’s investment provides an opportunity for VMG to source additional capital to further support its products and to invest on behalf of its employees. Bonaccord will serve as a strategic partner to VMG, and the investment will have no impact on the day-to-day management or operations of the firm.
“We believe VMG is an exceptional private equity and venture capital firm with a remarkable track record of delivering results to its limited partners by supporting the development of disruptive brands and technologies,” said Ajay Chitkara, Managing Partner at Bonaccord Capital Partners. “We believe in the long-term plan that the VMG team has laid out and we feel privileged to have the opportunity to support them in achieving it.”
“We are proud to have established a strategic long-term partnership with Bonaccord, which we believe will be integral to VMG’s further success as we invest across our people, our products, and our entrepreneur-led businesses,” said Mike Mauzé, General Partner at VMG Partners. “Bonaccord’s insight across the middle market and long-term commitment to VMG supports our mission to invest financial and human capital in building brands and technologies that transform the consumer landscape.”
Houlihan Lokey, Inc. served as financial advisor to VMG Partners, and Latham & Watkins LLP served as legal counsel to VMG. Fried Frank, Harris, Shriver & Jacobson LLP served as legal counsel to Bonaccord.