Pantheon co-leads EUR 750 million Exponent continuation vehicle for H&MV Engineering

Pantheon co-led an about EUR 750 million single-asset continuation vehicle for Exponent to extend its investment in H&MV Engineering.

The deal valued H&MV at EUR 1.4 billion, nearly 12x Exponent’s 2022 entry valuation.

The oversubscribed vehicle, led by Apollo S3, Pantheon, and SQ Capital, will fund H&MV’s international growth, with a focus on US expansion.

Exponent’s continuation vehicle, alongside Exponent Fund V, will acquire H&MV from Exponent Fund IV, subject to regulatory approvals.