01 December 2008
TMF wins France and Benelux Deal of the Year award at the European Private Equity Awards.
Silverfleet Capital has won the Deal of the Year award for the France and Benelux region at the European Private Equity Awards organised by the EVCA and Real Deals, for the realisation of its highly successful investment in TMF, the global leader in the provision of outsourced management and accounting services.
Neil MacDougall, Managing Partner, who accepted the award on behalf of Silverfleet Capital, commented “We are very pleased with the success of our investment in TMF. During the period of Silverfleet’s involvement with the business, the company made over 50 follow-on acquisitions thereby achieving a large part of its buy and build strategy. As a result it has become the pre-eminent global business in its field, growing significantly both organically and acquisitively”.
TMF was recently sold to management and Doughty Hanson for €750m, producing a money multiple of six times Silverfleet Capital's original investment and resulting in an IRR of 55%.
The Awards, which were presented in Paris on 21 November, recognise the achievements of individuals and firms working within venture capital and private equity in Europe. Presented by the European Venture Capital Association (EVCA) in association with Real Deals Magazine, these annual awards are highly regarded by the private equity industry's dealmakers and advisors.