BlackRock Long Term Private Capital (LTPC) announces it has reached an agreement to acquire Aquila Heywood.
The investment will enable Aquila Heywood to further grow its highly innovative suite of software solutions, supporting the current and future needs of a fast-growing customer base within the Pensions sector.
The existing management team, led by CEO Andy Ross, remain fully committed to leading the business and driving the next phase of the company’s growth.
The partnership with Aquila Heywood is BlackRock LTPC’s third investment overall and second in Europe. It reflects the fund’s unique proposition to founder-driven companies who value a longer-term investment horizon.
Andy Ross, CEO of Aquila Heywood said:
“I am very excited to have the opportunity to develop a strategic partnership with BlackRock Long Term Private Capital. Through this relationship we will be able to enhance the value we offer to our customers by making further strategic investments in our software and technology platforms, as well as growing our highly skilled team of people. BlackRock LTPC are ideal partners given their sustainable and long-term approach and we look forward to working closely together on the next phase of our growth.”
Dag Skattum, Head of European office, Long Term Private Capital, said:
“It is a privilege to be partnering with the management team of Aquila Heywood to continue to grow this market-leading and differentiated business. LTPC focuses on partnerships with best-in-class businesses and uses a longer-term investment duration and a prudent approach to capital structure in an effort to generate sustainable growth across our portfolio on behalf of our investors. We see great potential in the strategy, product offering and leadership team driving Aquila Heywood and we look forward to a long and fruitful partnership.”
Terms of the transaction were not disclosed.
BlackRock LTPC is an innovative private equity strategy focused on investing in high-quality businesses and value creation through active collaboration with management teams. The strategy’s flexible duration and prudent approach to leverage preserve optionality for growth and help enable compounded capital appreciation. LTPC’s team of 17 professionals are based in New York and London and invest across North America and Western Europe. LTPC is backed by BlackRock, Inc., which manages $259 billion in alternative investments and commitments on behalf of clients worldwide as of December 31, 2020. For additional information on BlackRock, please visit www.blackrock.com/corporate.
Aquila Heywood builds modern software solutions for pension schemes, pension administrators and employers to help transform how their members manage their lifelong financial journeys. The company’s aim is to inspire members, customers and policymakers, and together create an environment that enables everyone to make more informed decisions to improve their financial security. Deep sector experience ensures that as the UK pensions sector continues to evolve through legislative and regulatory change, pension administrators are fully supported by our complementary solutions and consultancy services.