NEWS AND INSIGHTS FROM FINTRX
Opportunities to allocate capital directly are more prevalent now than ever, and family offices are at the center of this growing trend. In utilizing the FINTRX family office data and research platform, which provides intel into thousands of direct deal transactions made by 3,600+ family offices worldwide, we explore three family offices investing in construction and/or manufacturing companies.
Founded in 2016, Perscitus LLP (Jon Moulton Single Family Office) is a London, Europe-based single-family office serving as the private investment vehicle for Jon Moulton. Moulton is a British venture capitalist who is the founder and chairman of the private equity firm, Better Capital. Moulton was also the former managing partner of Alchemy Partners, a British private equity firm. Perscitus LLP manages a multi-asset portfolio and specializes in making direct private equity and venture capital investments.
Perscitus makes investments across a wide range of industries including banking, mobile applications, financial services, technology, wireless, cyber security, consumer goods, food & beverage, sustainability, energy, travel, telecommunications, real estate, infrastructure, data, artificial intelligence, construction and more. The firm also invests in third-party funds. Perscitus is flexible regarding deal size and holding period and will make both minority and majority investments. The firm will act as the lead investor or make co-investments as well.
Perscitus mainly focuses on three core areas within UK-headquartered companies: Venture Capital, Growth Capital, and Small Buyouts/Buy-ins. When making venture capital investments, Perscitus avoids seed-stage transactions, with a preference for Series A and B investments. Regarding Small Buyouts/Buy-ins, Perscitus targets profitable companies with an enterprise value ranging from $5M to $30M. The firm's direct investment portfolio comprises over 100 companies. For instance, in January 2019, Perscitus LLP directly invested in Hometree, a leading challenger brand in home emergency insurance. With Hometree, the future of home cover is more transparent and technology-enabled than ever before.
In April 2021, Perscitus LLP made a direct investment in Sessions Market, a hospitality accelerator aimed at creating a revolutionary food sector by helping real brands scale with no access to private equity. The business sets out to remove the current barriers facing hospitality entrepreneurs and provide them with spaces and opportunities to grow their brands authentically. Perscitus LLP comprises a team of approximately 10 investment professionals.
Established in 2009, Florac (Marie-Jeanne Meyer Family Office) is a Paris, France-based single-family office managing the capital of French billionaire Marie-Jeanne Meyer and her family. As a branch of the Louis-Dreyfus family - owners of the holding company Louis Dreyfus BV. (founded by patriarch Leopold Louis-Dreyfus in 1851). Louis Dreyfus BV has global holdings in retail, real estate, shipping, hedge funds, agriculture, energy, and telecoms, among varied other sectors, and has yearly revenues of over $65B+. A global network of professionals supports Florac across industries, which the firm can leverage to source new investments and aid existing portfolio companies.
Florac invests the Meyer family capital in both public and private equity across a range of sectors, regions, and asset classes, with a focus on direct private equity and venture capital investments. Industries and sectors of interest include construction, real estate, technology, hospitality, travel, education, sports, aeronautics, food & drink, among others. The firm provides its portfolio with a family-backed capital base, business operating expertise, and strategic guidance for the long term. Florac seeks growth-positioned opportunities in the United States and in Europe that illustrate profitability, defined competitive advantages, solid management teams, industry expertise in target sectors, and proven track records. The group keeps its portfolio small to form long-lasting partnerships with companies, rather than spreading capital too thin across many opportunities at once.
In April 2019, Florac invested in Sperber Landscape Companies, a construction company based in Calabasas, CA. For over half a century, the Sperber Family has designed, built, and maintained the landscapes of some of the most iconic resorts, corporate campuses, museums, and sports arenas. Sperber Landscape Companies are the new chapter in the Sperber family legacy, offering unmatched knowledge and talent in every project it takes on.
In December 2019, Florac made an undisclosed investment in Prime AE, a multi-discipline engineering and architecture firm providing clients with solutions for their complex challenges regarding anything from architecture and engineering, construction management and inspection, to design-build and transportation matters. With decades of experience, Prime AE designs, implements, and maintains the infrastructure needed to improve our communities, while conserving our shared natural resources with sustainable design practices.
In April 2021, Florac acquired Cagwin & Dorward, a full-service specializing in landscape maintenance, landscape construction, water management, and tree care for commercial, municipal and residential customers in the Bay Area, Sacramento, and Central Valley (northern CA). Since 1955, Cagwin & Dorward has been a leader in creating and maintaining beautiful landscapes. Florac applies a sector-agnostic investment philosophy and provides capital for a variety of transaction structures across the business life cycle, including growth capital, recapitalizations, leveraged buyouts, and management buyouts. Florac is open to taking either majority or minority stakes in its investments.
Established in 2013, Dunes Point Capital (Tim White Family Office) is a Rye, NY single-family office managing the capital of Timothy White, a former Senior Managing Director of Blackstone Private Equity. Dunes Point Capital seeks to build companies through a shared vision, patient capital base, and long-term commitment. Dunes Point maintains a low profile in the family office landscape, but the firm often seeks control investments in companies operating within the industrial, construction, manufacturing, energy, and chemical sectors, among others. Through a thesis-driven investment philosophy, Dunes Point Capital looks to be a value-added investor to its portfolio companies. Because of the firm's privately owned status, Dunes Point Capital does not disclose its assets under management.
Together, Dunes Point Capital’s experienced team has invested or overseen the investments of over $4B+ in transactions over a 20-plus year span. Since 2015, the firm has acquired eight construction companies, including Harvey Windows & Doors, in October. Since 1961, Harvey has helped contractors deliver excellence to their homeowners. Harvey products are available to building professionals at nearly 300 distribution partner locations throughout the country. In December 2016, Dunes Point Capital acquired Soft-Lite Windows, a premier manufacturer of replacement vinyl windows and entry doors. Soft-Lite Windows uses leading-edge technologies and equipment in manufacturing to exceed customer requirements. In 2018, Dunes Point acquired four construction companies: Thermo-Tech Windows; Kermans Flooring, LLC; Decor Flooring, LLC; and Northeast Building Products.
FINTRX is a unified data & research platform providing comprehensive data intelligence on 850,000+ family office & registered investment advisor (RIA) records, each designed to help asset-raising professionals identify, access & map the global private wealth ecosystem.
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September 07, 2021
Renae Hatcher is a member of the marketing team at FINTRX - focused on delivering targeted & relevant family office and registered investment advisor content to our subscribers.