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Share price

754 p
7:07PM 6 Jul 2020

Net Asset Value

1,100 p
As of 30 Apr 2020
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Gryphon Investors V

In this section

$15m
COMMITTED BY ICG ENTERPRISE
Key stats
Commitment date April 2019
Region North America
Strategy Mid-market buyours
Focus Business services, consumer, healthcare and industrial growth
Fund size $2.1bn

Background

Gryphon Investors is a long-established US manager based in San Francisco focused on business services, consumer, healthcare and industrial growth. We invested in its fifth fund, which by the time of its final close was already over half invested. This allows us to diligence the underlying investments, as well as to deploy capital more efficiently. Gryphon has a highly focused, thematic origination approach which seeks to identify companies within tightly defined sub-sectors which have characteristics aligned with our defensive growth focus. Shortly after committing to the fund, we co-invested in a Gryphon V investment, RegEd.

Investment Rationale

  • Experienced senior team with deep experience through market cycles
  • Strong and consistent track record
  • High degree of strategic alignment with ICG Enterprise
  • Focus on ‘defensive growth’ assets
  • Late stage primary

More case studies

Petsmart (Chewy)

PetSmart is a leading in store and online retailer of pet products and services in the US. ICG Enterprise co-invested directly as well as through its commitment to BC Partners.

Berlin Packaging

Berlin Packaging is a global provider of rigid packaging. ICG Enterprise co-investing directly as well as through its commitment to Oak Hill Capital IV.

IRI

IRI is one of the world's leading data providers to the consumer packaged goods industries. ICG Enterprise co-invested $15m in the company in December 2018 alongside New Mountain Capital.

RegEd

ICG Enterprise co-invested alongside Gryphon Investors in a leading provider of regulatory compliance software solutions.

Tailwind Capital and Abode Healthcare

ICG Enterprise committed $15 million to Tailwind III in June 2018 and co-invested $6 million alongside the fund in Abode Healthcare in July 2018.

Minimax

Minimax, one of the world’s leading global suppliers of fire protection systems and services, focused on solutions for industrial and special hazards, was acquired by ICG in July 2018 with co-investment by ICG Enterprise.

Domus Vi

Domus, the third largest nursing home operator in Europe with 355 sites and more than 33,000 beds, was acquired by ICG Europe VI in July 2017 with co-investment by ICG Enterprise.

Endeavour Schools

Endeavor Schools is a leading US operator of schools for children aged from four to 13. ICG Enterprise co-invested directly as well as through its commitment to Leeds Equity VI.

Visma

Increasing our exposure to Visma, a leading provider of business-critical software in the Nordic and Benelux region

Cambium

A provider of educational software for primary schools in the United States.

CPA Global

CPA Global, a leading intellectual property management company was sold by Cinven in August 2017 generating proceeds for ICG Enterprise of £11m.

Quirónsalud

Quirónsalud, the leading private healthcare operator in Spain, was sold by CVC in February 2017 generating proceeds for ICG Enterprise of £5.9 million.

Micheldever

Micheldever, the UK’s leading distributor of car, 4x4 and motorcycle tyres, was sold by Graphite Capital in February 2017 generating proceeds for ICG Enterprise of £35.9 million.

Spheros

Deutsche Beteiligungs sold Spheros, the bus climate systems manufacturer, to a trade buyer after a four year holding period.

Guardian

Guardian, a consolidator of closed life insurance books, was sold by Cinven in January 2016 generating proceeds for ICG Enterprise of £7.3 million.

AEA Fund VII

AEA is one of the longest established US private firms, having been founded in 1968. It is a highly regarded mid-market manager which the ICG Enterprise team have been tracking for over five years.

Oak Hill Capital

ICG has been tracking Oak Hill’s development over a long period of time and committed £12.0m to Oak Hill IV and separately invested £5.6m in Oak Hill II and III via the secondary market.

ICG Strategic Equity Strategy

The Strategic Equity investment strategy targets opportunities to purchase significant positions in funds and/or portfolios of companies managed by experienced private equity teams.

ICG Subordinated Debt and Equity Strategy

Funds within ICG’s European Subordinated Debt and Equity strategy invest in companies with experienced management teams, who have a proven strategy, typically in non-cyclical industries.
Shareprice Net Asset Value

Share price (ICGT)

754p
24.00P (3.29%)
7:07PM 6 Jul 2020
The share price information is delayed by at least 15 minutes
Share price information

Net Asset Value

1,100p
As of 30 April 2020
Next update: October 2020 – Q2 results
NAV information
Year Net assets NAV per share Share price Dividends per share
Jan 2020 £794m 1,152p 966p 23p
Jan 2019 £731m 1,057p 822p 22p
Jan 2018 £664m 959p 818p 21p
Jan 2017 £613m 871p 698p 20p
Jan 2016 £521m 731p 545p 11p
Jan 2015 £507m 695p 575p 15.5p
Jan 2014 £494m 677p 563p 15.5p
Jan 2013 £460m 631p 487p 5p
Jan 2012 £415m 569p 357p 5p
Jan 2011 £389m 534p 308p 2.25p
Dec 2009 £338m 464p 305p 2.25p
Dec 2008 £327m 449p 187p 4.5p