Aquiline Capital’s Acquisition of CoAdvantage

Lazard Middle Market acted as financial advisor to CoAdvantage on this transaction. Piper Jaffray & Co acted as financial advisor to Aquiline and Willkie Farr & Gallagher LLP provided legal counsel to Aquiline. Debevoise & Plimpton LLP served as legal advisor to Morgan Stanley Capital Partners.

Founded in 2005, Aquiline Capital Partners is a private equity firm based in New York and London, investing in financial services and technology.

Founded in 1990, CoAdvantage offers a comprehensive HR outsourcing offering for small and medium sized businesses. With proprietary technology and client-dedicated support specialists, CoAdvantage assumes the risk, administration, and compliance associated with a range of functions including payroll, tax filings, healthcare and ancillary benefits, and workers compensation.

CoAdvantage is acquired from investment funds managed by Morgan Stanley Capital Partners (MSCP), which have owned the company since 2015.

No financial terms of the transaction were disclosed.

Morgan Stanley Capital Partners is a leading middle-market private equity platform that has invested capital in a broad spectrum of industries for over three decades. It focuses on privately negotiated equity and equity-related investments primarily in North America.

The Debevoise team is led by corporate partners Kevin Rinker (Picture) and Christopher Anthony and includes corporate associates Carolina de Barros, Katherine E. Durnan, Spencer K. Gilbert, Thomas Lopez and Molly D. Quinn, finance partner Sunil W. Savkar and counsel Zahra J. Khosrovi Sowder, tax partner Rafael Kariyev and associate Robert Nelson-Sullivan and benefits associates Peter J. Dalmasy and Zain A. Kasmi.

Involved fees earner: Christopher Anthony – Debevoise & Plimpton; Peter Dalmasy – Debevoise & Plimpton; Carolina de Barros – Debevoise & Plimpton; Katherine Durnan – Debevoise & Plimpton; Spencer Gilbert – Debevoise & Plimpton; Rafael Kariyev – Debevoise & Plimpton; Zain Kazmi – Debevoise & Plimpton; Zahra Khosrovi Sowder – Debevoise & Plimpton; Thomas Lopez – Debevoise & Plimpton; Robert Nelson-Sullivan – Debevoise & Plimpton; Molly Quinn – Debevoise & Plimpton; Kevin Rinker – Debevoise & Plimpton; Sunil Savkar – Debevoise & Plimpton;

Law Firms: Debevoise & Plimpton;

Clients: Morgan Stanley Capital Partners;

Author: Ambrogio Visconti