M&A Deal Summary

ABRY Partners and Hoplon Capital Acquire illumifin

On May 17, 2021, private equity firms ABRY Partners and Hoplon Capital acquired business services company illumifin from Concentrix

Acquisition Highlights
  • This is ABRY Partners’ 17th and Hoplon Capital’s 1st transaction in the Business Services sector.
  • This is ABRY Partners’ 131st and Hoplon Capital’s 1st transaction in the United States.
  • This is ABRY Partners’ 2nd and Hoplon Capital’s 1st transaction in South Carolina.

M&A Deal Summary
Date 2021-05-17
Target illumifin
Sector Business Services
Buyer(s) ABRY Partners
Hoplon Capital
Sellers(s) Concentrix
Deal Type Divestiture

Target

illumifin

Greenville, South Carolina, United States
website
illumifin is a provider of third-party administration and technology services to individual and group insurers. illumifin is a diverse, passionate, and empowered team of insurance specialists committed to the growth and success of its customers. illumifin was founded in 2021 and is based in Greenville, South Carolina.

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Buyer(S) 2

Buyer

ABRY Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1989
PE ASSETS 12.8B USD
Size Mega
Type Sector Focused
DESCRIPTION

ABRY Partners is a media and communications focused private equity investment firm. Specific areas of interest include television, publishing, convention/trade shows, for-profit training, couponing, monitoring services, telephone companies, communications towers, music libraries, database providers, wireless communications, and in-store advertisers. ABRY can provide both equity and mezzanine capital, typically committing $20 to $200 million of equity or $15 to $50 million of mezzanine capital per transaction. Prospective transaction situations include buyouts, expansion financings, platform acquisitions, consolidations, and recapitalizations. ABRY Partners was formed in 1989 and is headquartered in Boston, Massachusetts.

DEAL STATS #
Overall 152 of 169
Sector (Business Services) 17 of 21
Type (Divestiture) 2 of 3
State (South Carolina) 2 of 2
Country (United States) 131 of 144
Year (2021) 8 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-17 ProQuest

Ann Arbor, Michigan, United States

ProQuest is an information content and services company. ProQuest technologies serve users across the critical points in research, helping them discover, access, share, create and manage information. ProQuest was formed in 1938 and is based in Ann Arbor, Michigan.

Sell $5.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-25 SDI Presence

Chicago, Illinois, United States

SDI Presence is specialized in Infrastructure solutions, including designing and managing large-scale network implementations, network management, and cloud-based solutions. SDI Presence was founded in 1996 and is based in Chicago, Illinois.

Buy -
Buyer

Hoplon Capital

website

Category Private Equity Firm
Founded 2021
Size Small
Type Sector Agnostic
DESCRIPTION

Hoplon Capital is a private equity firm focused on technology investments in companies that serve end markets that include financial services, insurance, IT, consulting, healthcare, media, and digital infrastructure. Hoplon Capital was formed in 2021 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 1 of 1
Sector (Business Services) 1 of 1
Type (Divestiture) 1 of 1
State (South Carolina) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1

Seller(S) 1

SELLER

Concentrix

Pittsford, New York, United States

website

Category Company
Founded 1983
Sector Business Services
Revenue 15M USD (2005)
DESCRIPTION

Concentrix is a business services company that provides call center, database analysis and print on demand services to customers.

DEAL STATS #
Overall 1 of 2
Sector (Business Services) 1 of 1
Type (Divestiture) 1 of 2
State (South Carolina) 1 of 1
Country (United States) 1 of 2
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-11-18 Encover

San Francisco, California, United States

Encover, Inc. is a software platform manages over $4 billion of service contracts and processes millions of transactions annually for customers today in 10 languages and multiple currencies.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-02 NetEngage

Pittsford, New York, United States

NetEngage is a mobile network solutions business of Concentrix. The business includes software capabilities in the areas of Call Completion, Messaging, and Online Charging for communications services providers worldwide.

Sell -
Mergr

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Company

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