After two years of bolt-ons, Align Capital has sold WilliamsMarston to Kelso & Co

Align Capital Partners has scored a rapid exit of accounting and tax services business WilliamsMarston after just two years in its portfolio.

The firm bolted on six businesses to WilliamsMarston during its ownership, and increased the size of its team to 225.

Kelso and Co is the buyer of the company, which advises public, private equity-backed and pre-IPO companies on mergers, acquisitions, carveouts, spin-offs, initial public offerings, complex technical accounting, corporate tax and restructuring.

ACP managing partner Chris Jones said, “We significantly exceeded our investment objectives.

“The WM team has been an outstanding partner for ACP and our investors, and we are incredibly appreciative of their efforts and accomplishments over the past two years.

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“The Firm has achieved remarkable growth while maintaining its steadfast commitment to its brand, clients and people.”

Align raced to a $450m hard cap close of its sophomore private equity fund in February 2020 after just three months in the market.

The raise came four years after Align was launched by former Riverside Capital execs Chris Jones, Steve Dyke and Rob Langley to target lower mid-market deals.

Align took just four months to close its debut fund that year, pulling in $325m.

The firm is dedicated to the lower mid-market through ACP II, targeting companies in B2B business services, specialty manufacturing, and value-added distribution with enterprise values of less than $150m.

Source: Alt Assets

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