MSouth Equity Partners LLC said a division of asset manager Aberdeen Standard Investments Inc. bought a passive, non-voting minority stake in the firm.
Under the deal, terms of which were not disclosed, Bonaccord Capital Partners will provide funding to support MSouth's growth and the development of its strategic initiatives. However, it will not have any authority regarding operating or investment decisions of the Atlanta-based lower-middle-market investor.
DC Advisory LLC was financial adviser to MSouth, while Kirkland & Ellis LLP was its legal counsel. Fried Frank Harris Shriver & Jacobson LLP was legal counsel to Bonaccord.