Tenzing Secures Ardian's Support for Gravita's Expansion

Deal News | Feb 27, 2025 | Ardian

Tenzing Secures Ardian's Support for Gravita's Expansion

Ardian, a preeminent investment firm, has announced a significant private credit financing package for Tenzing Private Equity's investment in Gravita, a UK-based top-30 accountancy firm. Gravita focuses on providing tech-enabled audit, tax, payroll, and other related services to over 8,000 businesses across the UK. Since 2021, when Tenzing first acquired Gravita, the firm has expanded by successfully acquiring seven businesses, increasing its workforce to over 500 FTEs. Caroline Plumb, the CEO, has been pivotal in Gravita's strategic acquisitions, aiming to position the firm as the UK's leading tech-enabled accountancy firm for growth businesses. Ardian's private credit team, noted for its robust European presence and experience, sees this partnership as part of a strong investment phase and typical of its multi-local approach. Ardian manages $177 billion in assets and emphasizes responsible investment principles and collaborative culture, aiming for superior investment performance coupled with ethical standards.

Sectors

  • Private Equity and Investment
  • Accountancy

Geography

  • United Kingdom – Gravita operates in the UK and serves over 8,000 businesses there.
  • Europe – Ardian is active across Europe, with significant investment activities here, underpinned by its multi-local approach.

Industry

  • Private Equity and Investment – The article discusses Ardian's investment support for Tenzing Private Equity's acquisition strategy, highlighting the private equity activities involved.
  • Accountancy – Gravita, the main subject of the investment, is a tech-enabled accountancy firm providing services across the UK, illustrating the accountancy industry's role.

Financials

    Participants

    NameRoleTypeDescription
    ArdianFinancing ProviderCompanyArdian is a world-renowned private investment firm providing credit support to Tenzing for its investment in Gravita.
    Tenzing Private EquityInvestor/OwnerCompanyTenzing is a private equity firm that acquired Gravita in 2021 and focuses on expanding its business through strategic acquisitions.
    GravitaTarget CompanyCompanyGravita is a top-30 accountancy firm in the UK, aiming to be a leading tech-enabled platform for growth businesses.
    Caroline PlumbCEOPersonCaroline Plumb is responsible for overseeing Gravita's strategic growth and acquisitions.
    Stuart HawkinsHead of Private Credit UK & Managing DirectorPersonStuart Hawkins represents Ardian's interest in providing financing for Tenzing's investment.