Chicago-based AVANT announced that private equity firm Court Square Capital Partners has invested an undisclosed sum into the company, marking a recapitalization of the TSD. The deal follows Pamlico Capital’s 2021 investment in the company, which also announced a reinvestment in Avant.
According to sources, AVANT’s executive leadership, including Ian Kieninger, co-founder and CEO, and Drew Lydecker, co-founder and president, will retain significant ownership and continue overseeing the company’s day-to-day operations, and “AVANT’s team, culture and mission remain unchanged.” It’s expected that Avant will use the funds primarily to bolster its Pathfinder platform, including embedding AI tools into the platform, and expand into new service areas. Both moves require the addition of personnel in sales, engineering and back office.
“This investment marks the next phase in AVANT’s evolution,” said Kieninger. “Court Square’s expertise will enable us to strengthen our capabilities to thoughtfully meet the growing needs of our Trusted Advisors and the businesses they serve.”
“AVANT stood out to us for its clarity of vision, strong leadership, and commitment to elevating the Trusted Advisor model,” said Matt Dennett, Partner, Court Square Capital Partners. “The company has built an impressive foundation and a culture focused on continuous improvement.”
