Author: Bethan Jenkins

Agreement will expand the reach of its B2B platform across car rental, ground transport and Insurtech

May 20, 2026, DUBLIN, IRELAND – CarTrawler, the leading B2B technology provider of car rental, ground transport and Insurtech solutions to the global travel industry, has entered into an agreement to be acquired by  Expedia Group, the global travel marketplace, in a move that advances its strategy to build the most complete B2B travel platform.

CarTrawler, founded and headquartered in Dublin, is powered by its Connect Platform, connecting 550+ car rental suppliers and 500+ mobility providers with more than 300 leading travel brands worldwide, including over 70 airlines.  

The Company has significantly expanded its global footprint driven by demand for high-margin ancillary solutions and the unrivalled performance of its proprietary technology  reflecting the strength and scalability of CarTrawler’s offering across the global travel ecosystem. 

Today’s announcement represents a strategic milestone for both companies. Together, the businesses will unlock new opportunities for supply partners to access incremental demand, for B2B partners to integrate richer and more competitive travel ancillary solutions, and for travellers to benefit from greater choice and value.

Peter O’Donovan, Chief Executive Officer, CarTrawler, said, “CarTrawler’s acquisition by Expedia Group is a testament to the strength of our technology, the drive of our people, our track record of innovation and our accelerating commercial momentum. This exciting combination allows us to advance our mission as part of travel’s best and most complete B2B engine, unlocking new opportunities for innovation and growth.”

Alfonso Paredes, President B2B & Chief Commercial Officer, Expedia Group, said, “The CarTrawler acquisition is another huge, exciting step towards our ambition of building the most complete B2B travel platform. Last year, Expedia Group B2B set out a bold vision to expand our APIs beyond lodging. Acquiring Tiqets helped us solve for activities at scale. Adding CarTrawler now extends that same strategy into car rentals, ground transport and Insurtech. CarTrawler’s focus and differentiated expertise in these areas complements our strengths in B2B scale and technology, enabling us to massively amplify our joint value proposition to partners, suppliers, and travellers.”

Gordon Holmes, Chief Investment Officer at TowerBrook, said, “We invested in CarTrawler in July 2020, confident that it would emerge from Covid-related industry dislocation as an industry champion, through the strength of its relationships, platform and people. The performance over the last six years, driven by innovation and commercial excellence, has exceeded all expectations. We are proud of our association with CarTrawler. We are grateful to Peter O’Donovan and his team for their leadership and commitment, and to CarTrawler’s Board of Directors for their support. We wish CarTrawler and Expedia Group continued success in this exciting next phase.”

The transaction, which remains subject to customary closing conditions, is expected to be completed in the second half of 2026.

The transaction, led by Carlyle AlpInvest, represents a significant realization event for TowerBrook Fund V and is a strong endorsement of EisnerAmper’s long-term growth potential

NEW YORK — MARCH 25, 2026 — TowerBrook Capital Partners L.P. (“TowerBrook”) today announced the completion of a continuation vehicle (“CV”) transaction in connection with its investment in Eisner Advisory Group LLC (“EisnerAmper”), a leading accounting, tax, outsourcing, and business advisory firm serving middle-market clients and HNWIs across the U.S. The transaction provides optional liquidity to existing investors while enabling TowerBrook to continue its successful partnership with EisnerAmper. Carlyle AlpInvest led the transaction, with funds managed by Hamilton Lane serving as co-lead alongside participation from syndicate investors.

As a result of a carefully developed thesis in Professional Services with the increasing relevance of technology and consolidation trends, TowerBrook partnered with EisnerAmper in 2021 in what was the first major private equity partnership with a top 20 U.S. accounting firm. Since then, the firm has worked closely with management to drive transformational growth, significantly scaling its platform and capabilities through a combination of organic initiatives, strategic acquisitions and continued investment in talent, technology, and advisory services.

With TowerBrook’s support, EisnerAmper has completed 27 add-on acquisitions and made meaningful investments in its technology platform and AI capabilities to enhance operating efficiency and client service delivery. EisnerAmper has also expanded its offerings within higher-value advisory services, including fund administration, outsourcing and wealth management, while continuing to deepen its core tax and assurance capabilities. Today, EisnerAmper offers a broad and diversified suite of services and has established a strong competitive position among super regional firms. Since the partnership began, EisnerAmper has grown to become the 13^th largest accounting firm in the U.S., with more than $1.2 billion in revenue.

The transaction marks a significant realization for TowerBrook Fund V, delivering liquidity to investors and EisnerAmper partners while underscoring confidence in the company’s performance and long-term outlook. It also positions the firm for its next phase of growth, with a focus on further scaling its platform, expanding service capabilities, advancing technology and AI initiatives, and executing on a robust pipeline of strategic acquisitions.

Walter Weil, Managing Director at TowerBrook, commented, “Our original investment thesis for the accounting sector proved to be true. Yet without the right partner, realizing the opportunity behind that thesis would have been impossible. Our collective focus with management on key value drivers has entirely been centered on improving the day-to-day of the amazing partners at EisnerAmper, and through that focus ultimately ensuring the highest quality of service for our clients. While we have accomplished much in our first four-plus years, the long-term opportunity continues to be as compelling as ever, and we’re excited to continue our partnership with EisnerAmper as we build toward our goal of creating an end-to-end conduit of professional services for middle- and lower-middle-market companies.”

Jonathan Bilzin, Managing Partner, Co-CEO at TowerBrook, added, “Our partnership with EisnerAmper reflects our strategy of collaborating with leading businesses to accelerate growth and build scaled, differentiated and technology-enabled platforms. EisnerAmper is a clear example of that approach in action. We are excited about the progress achieved alongside Charly and the management team and remain confident about the opportunity ahead as we continue to support the firm in its next chapter.”

Charly Weinstein, CEO of EisnerAmper, commented, “Our partnership with TowerBrook has been transformational in helping us expand the business and broaden the solutions we deliver to clients. As we look ahead, with TowerBrook’s continued support, we remain focused on evolving our platform by investing in our people, enhancing our capabilities and leveraging innovation to meet our clients’ increasingly complex needs.”

Michael Hacker, Partner at Carlyle AlpInvest, said, “This transaction reflects our focus on investing in market-leading companies. In partnership, TowerBrook and EisnerAmper have built a differentiated business, and we’re pleased to support them in the next phase of growth.”

Ken Binick, Co-Head of Direct Equity Investments at Hamilton Lane, said, “We are proud to partner with TowerBrook and EisnerAmper as the company enters its next chapter of growth. EisnerAmper’s experienced leadership team and proven ability to drive organic growth and execute strategic acquisitions uniquely position the firm to capitalize on significant opportunities ahead.”

Moelis served as lead financial advisor, and Deutsche Bank served as co-lead financial advisor on the transaction. Kirkland & Ellis LLP served as legal advisor to TowerBrook. Dechert LLP served as legal advisor to EisnerAmper.

LONDON and PARIS – March 25, 2026 – TowerBrook Capital Partners L.P. (“TowerBrook”), the international investment firm, today announced the acquisition of a majority stake in ID UNLIMITED, a European leader in premium equipment personalisation and embellishment for sports clubs, leagues and global sports brands, from family-owned investment holding company Dentressangle. Financial terms of the transaction were not disclosed.

ID UNLIMITED generates approximately €120 million in revenue and provides jersey customisation and branding services to more than half of Europe’s leading football clubs, as well as major leagues, federations and retailers and partners with global sportswear brands including adidas, PUMA and New Balance. The company distributes its products in more than 80 countries worldwide.

TowerBrook’s investment reflects strong structural growth in sports merchandising and customisation, driven by rising fan engagement, global sports licensing and increasing demand for personalised apparel.

The transaction follows a period of strong growth and strategic transformation for ID UNLIMITED. Since Dentressangle’s initial investment, the company has evolved from a French SME into a major European platform for sports equipment personalisation and branding services.

Under the leadership of CEO Jocelyn Robiot, who joined in 2022, the group has accelerated its development, nearly doubling revenue while significantly improving profitability. The company delivers high-value customisation services – including names, numbers, logos and sponsor patches – that transform standard jerseys into premium products for clubs, leagues and global sports brands.

International expansion has been central to the company’s strategy. Global sales now account for approximately 75% of total activity, supported by acquisitions in Spain and the Netherlands, the integration of Monblason in France and the group’s entry into the U.S. market through the acquisition of The Emblem Source in 2024. The company has also expanded its production footprint with new facilities in Turkey and additional international sites supporting global customers.

“This milestone marks an important moment in our development,“said Jocelyn Robiot, CEO of ID UNLIMITED. “Over the past four years, our teams have built a global platform combining technical expertise, strong customer relationships and international scale. With TowerBrook’s support, we look forward to accelerating our growth and expanding our presence in key markets.“

TowerBrook’s investment will support ID UNLIMITED’s continued international expansion, particularly in North America, where demand for customised sports apparel and fan merchandise continues to grow alongside rising fan engagement and league commercialisation.

The firm plans to support the company through operational investment, geographic expansion and targeted acquisitions in adjacent markets.

“Based on unrivalled technical and service quality capabilities, ID UNLIMITED has developed a clear leadership positioning in an attractive and rapidly growing market, leading to an impressive track record of profitable growth,” said Edouard Peugeot, Managing Director of TowerBrook. “We see major opportunities to further grow the business globally and look forward to partnering with Jocelyn Robiot and his team with the aim of creating the undisputed world leader in sportswear embellishment services.”

For Dentressangle, this sale represents the culmination of a transformative partnership. By leveraging its operational expertise, Dentressangle guided ID UNLIMITED through every critical stage of its growth, enabling the ambitious 2022 expansion strategy targeting the global sports market. Dentressangle delivered the operational support and strategic agility required to transform the business from a local player into an international leader.

“Supporting ID UNLIMITED’s evolution has been an incredible journey; it represents exactly what we strive to achieve at Dentressangle: deploying our enabling expertise to help promising companies scale and reach their full potential” said Jean-Louis Savoye, Co-CEO at Dentressangle. “This success is a direct reflection of Jocelyn Robiot’s exceptional talent and leadership. Since joining in 2022, he has acted as a true catalyst, bringing a level of vision and execution that changed the company’s dimension entirely. We are confident the company will continue its growth trajectory under TowerBrook’s ownership.”

Acquisition will support the Group’s next phase of Pan-European growth

Milan, January 21 2026 – TowerBrook, Columna Capital and Giovanni Campus, Entrepreneur and Executive Chairman, announce the establishment of a new partnership to support the continued development of MSA Mizar (the “Group” or the “Company”), a tech-enabled, end-to-end insurance claims management services provider headquartered in Milan, Italy, with operations across Spain, France, Belgium and Switzerland.

TowerBrook will join the shareholding structure as the majority owner, operating alongside existing investors Columna Capital and Giovanni Campus, who will reinvest and retain a significant minority interest. The management team will continue to be led by Group CEO Antonio Marchitelli, with Giovanni Campus continuing in his role as Executive Chairman, ensuring full entrepreneurial and operational continuity.

Founded in 1979, MSA Mizar is a fast-growing insurance claims management and third-party claims administration platform, specialising in high-frequency motor and property claims and delivering high-quality, end-to-end services through its proprietary technology platform. Since 2022, the Group has been backed by Columna Capital to accelerate growth, combining strong organic expansion with an active buy-and-build strategy. During this period, MSA Mizar has completed ten strategic acquisitions, expanded its offering into adjacent claims segments, entered new European geographies and continued to invest significantly in technology and operational capabilities. Today, the Group operates in six European countries, manages over 850,000 claims annually and employs approximately 850 people.

The transaction, which is subject to customary regulatory approvals, marks a significant new phase in the Group’s development. The new partnership aims to bring together complementary expertise and resources, allowing MSA Mizar to further strengthen its technology and AI-based capabilities, pursue selective M&A opportunities and continue scaling its service offerings.

The Group will benefit from TowerBrook’s deep expertise in insurance and technology-enabled business services, as well as its significant capital and strategic capabilities to support international expansion and continued consolidation in the sector. This transaction follows on TowerBrook’s long-held thematic pursuit of creating a pan-European insurance claims management leader, capitalising on the sector’s technological innovation and deployment of AI in insurance claims, secular tailwinds and significant opportunities for M&A. Columna Capital remains closely involved as a long-term partner, continuing to support management alongside TowerBrook.

Antonio Marchitelli, CEO of MSA Mizar, commented: “The partnership with TowerBrook allows the Group to build on the development path started with Columna Capital, which has supported MSA Mizar in achieving double digit year-on-year growth and will continue to contribute shaping our future. At the same time, this transaction will give us access to a significant pool of resources and expertise, leveraging the multidisciplinary background of TowerBrook’s investment team. The new shareholding structure reflects the strategic continuity of our industrial project, based on innovation, execution capabilities and international ambition.”

Nikolay Skibnevsky of TowerBrook commented: “We are excited to be partnering with the exceptional team led by Giovanni Campus and Antonio Marchitelli to support MSA Mizar on its next stage of growth. MSA Mizar’s client focus, quality of technological assets, track record of innovation, as well as strong organic growth, profitability and proven M&A capabilities position the Company well to become the insurance claims technology leader in Europe.“

Paolo De Bona of TowerBrook added: “MSA Mizar is our first investment headquartered in Italy, which marks an important milestone in our expanding European footprint, reflecting the momentum we’ve built since opening our Milan office last year.“

Andrea Frecchiami, Partner at Columna Capital, commented: “We are proud to have supported MSA Mizar’s growth from a leading Italian provider of insurance claims management to a top pan-European industry player. Since our initial investment nearly four years ago, MSA Mizar has completed transformative platform acquisitions, entered the Swiss and Belgian markets, significantly expanded operations in Spain and France and recorded a revenue increase of more than 4x, a testament to the success of our buy-and-build strategy.“

Gemma Zaino, Managing Director at Columna Capital, added: “We are confident that TowerBrook is the best partner for the next step in our long-term partnership with MSA Mizar and its team. We look forward to continuing to be a part of this Group’s exciting story.”

Giovanni Campus, Executive Chairman of MSA Mizar, commented: “Together with TowerBrook and Columna, I am confident that the Group’s growth journey will be even stronger. I have been deeply impressed by the expertise, commitment, and networking capabilities of their teams, and I therefore look forward to continuing to contribute in my role as Executive Chairman.“

MSA Mizar and Columna Capital were advised by Mediobanca as financial advisor, LMS as legal advisor, PwC as financial and technology, NCTM as tax and Oliver Wyman as commercial due diligence advisors. TowerBrook was advised by Lazard and Macquarie Capital as financial advisors, Chiomenti and Fried Frank as legal advisors, and Alvarez & Marsal, PwC and Capstone as commercial, financial, operational, technology, legal, tax and regulatory due diligence advisors.

Financial terms of the transaction were not disclosed.

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London, September 15th 2025 — TowerBrook today announced an investment in GMC Group (“GMC” or the “Company”), one of Ireland’s leading civil and mechanical engineering firms. This investment comes at a time of significant growth and expansion for GMC, as the company continues to secure and deliver large-scale public and private sector infrastructure projects across Ireland.

Founded over four decades ago, GMC has built long-standing partnerships with semi-state bodies and public agencies, positioning itself as a trusted, mission-critical partner for essential national infrastructure. The company delivers full turnkey solutions across seven core sectors: water, gas, power, telecoms, transportation, public sector and renewables. The Company plans to leverage TowerBrook’s partnership to scale its organization, accelerate its growth ambitions, and continue delivering high quality, critical infrastructure works that communities can rely on.

TowerBrook has a strong track record in the infrastructure services sector, having identified it as a core area of focus and demonstrated its capabilities through prior investments such as JSM in the UK and Langan in the US. Over the past several years, the firm has built deep expertise in multi-utility service models and industrial services, supported by an extensive network of industry experts. This experience, together with TowerBrook’s history of backing management teams to scale and grow, positions it as a suitably qualified partner to support GMC in its next phase of growth.

Following the conclusion of the deal, the management team at GMC, led by CEO Shane McCloskey, will remain the majority shareholders in the business and will continue to lead the company.

“This investment by TowerBrook marks an exciting new chapter for GMC Group,” said Shane McCloskey. “It provides us with the resources and strategic support we need to ensure that we continue to deliver projects across Ireland with the same reliability and excellence our customers have come to expect. Importantly, it will help accelerate our growth ambitions and ensure we remain a trusted partner for the delivery of critical infrastructure developments and services into the future.”

“We are delighted to announce our investment in GMC Group,” said Joseph Knoll, Managing Director, and Sumit Dheir, Senior Principal, TowerBrook Capital Partners. “We consider that GMC’s technical excellence, operational reliability, and its deep-rooted relationships with Ireland’s key infrastructure stakeholders make it an ideal partner. We look forward to supporting the team as GMC continues to scale its operations and deliver mission-critical services that benefit communities across the country.”

The transaction is subject to approval by the Competition and Consumer Protection Commission (CCPC).

NEW YORK – September 9, 2025 – TowerBrook Capital Partners L.P. (“TowerBrook”), an international investment firm, is pleased to announce the appointment of Jack Azagury as a Senior Advisor. In this role, Mr. Azagury will advise TowerBrook’s portfolio companies in the Business Services sector and work closely with the sector investment team to identify and evaluate future opportunities. Mr. Azagury will also serve as the Chair of the Board for BRG, and as a Board Member at CBTS.

Mr. Azagury joins TowerBrook after a 29-year career at Accenture, where he most recently served as Group Chief Executive for Consulting, leading Accenture’s global consulting team, its 42 industries and enterprise functions, including Industry X, and serving on the company’s Executive and Global Management Committees. He brings extensive international experience from the UK, France, Japan, and the U.S., and has held senior roles including Market Unit Lead for the U.S. Northeast and Lead for North America Resources.

Mr. Azagury brings deep strategy, technology, and operational experience and is a recognized thought leader on digital and AI based transformation, operational improvement programs, and the energy industry. He is a frequent speaker and author on these topics.

Jonathan Bilzin, co-CEO and Managing Parter of TowerBrook Capital Partners said: “We are thrilled to welcome Jack to TowerBrook. His nearly three decades at Accenture and leadership at the highest levels of the firm reflect the depth of his experience in global professional services. Jack’s track record in driving large-scale transformation and technology-enabled change will make him an exceptional partner as we continue to grow and shape the future of our firm.”

Walter Weil, Managing Director and Business Services Sector Lead of TowerBrook Capital Partners, said: “Jack’s guidance will be invaluable as we continue to support our portfolio companies and innovate in the professional services sector. His outstanding leadership experience and deep knowledge will be invaluable as we continue to expand our portfolio and drive growth across these lines.”

“I’m excited to embark on my next chapter as a Senior Advisor at TowerBrook. The firm’s commitment to building enduring, resilient, and responsible businesses deeply aligns with my own values and experience in leading global teams and helping clients through their large-scale transformations,” said Jack Azagury, “I look forward to working with the TowerBrook team and with BRG and CBTS, to help these very talented teams achieve their full potential.”

NEW YORK – August 7, 2025 – TowerBrook Capital Partners L.P. (“TowerBrook”), together with Prelude Growth Partners, today announced an investment in Amylu Foods (“Amylu” or the “Company”), a manufacturer of all-natural, value-added protein products. The partnership positions the Company to continue building on its 100+ year history of delivering healthy and convenient specialty protein products to a growing base of retailers and consumers across the U.S.

Founded in 1924 and headquartered in Chicago, Illinois, Amylu is a high-growth manufacturer of value-added chicken products, including sausages, meatballs, and burgers, sold under the Amylu brand and private label. The Company’s broad portfolio of innovative and flavorful products is tailored to address consumer preferences for all-natural, high-protein options with verifiable heath attributes (e.g., organic, antibiotic-free, nitrate-free). Amylu’s products, produced in-house at the Company’s dedicated manufacturing facilities, allow consumers to prepare nutritious, high-quality meals quickly, combining premium ingredients with unmatched convenience. Amylu plans to leverage the TowerBrook partnership to scale operations, further expand across channels, and deliver high-quality products to a growing base of consumers nationwide.

Steven Zoll, Chief Executive Officer of Amylu, stated: “At Amylu, our success has always been built on delivering great-tasting, clean-ingredient products that our consumers genuinely love and trust. This partnership with TowerBrook is the natural next step for our growth strategy, and we’re confident they’re the right partner to help us expand our business across the nation given their strong track record of scaling food businesses, particularly in the protein space.”

“Amylu’s long-standing commitment to quality, innovation, and health-conscious convenience has earned it a strong reputation in the industry and outstanding commercial momentum,” said Michael Recht, Managing Director of TowerBrook. “We look forward to partnering with Steve and the Amylu team to continue to build upon the Company’s legacy of delivering unique products to its loyal consumers.”

Sidley Austin acted as legal counsel to TowerBrook. J.P. Morgan served as financial advisor and Winston & Strawn acted as legal counsel to Amylu. Funds managed by MidCap Financial and Benefit Street Partners acted as joint lead arrangers and bookrunners for the financial facilities together with funds affiliated with Eldridge, Sumitomo Mitsui Banking Corporation, Willow Tree Credit Partners, and Stifel.