M&A Deal Summary

Apax Acquires MetaMetrics

On July 30, 2019, private equity firm Apax acquired information technology company MetaMetrics from Pamlico Capital

Acquisition Highlights
  • This is Apax’s 20th transaction in the Information Technology sector.
  • This is Apax’s 80th transaction in the United States.
  • This is Apax’s 3rd transaction in North Carolina.

M&A Deal Summary

Date 2019-07-30
Target MetaMetrics
Sector Information Technology
Buyer(s) Apax
Sellers(s) Pamlico Capital
Deal Type Secondary Buyout
Advisor(s) Raymond James - Investment Banking (Financial)

Target

MetaMetrics

Durham, North Carolina, United States
website
MetaMetrics is an education technology organization that offers the only scientifically valid, universal scales for measuring reading and listening (Lexile) as well as math (Quantile). The Lexile and Quantile Frameworks measure student ability and the complexity of the content they encounter. Lexile and Quantile measures and related technologies link assessment to instruction and provide next steps for students of all ages and abilities. MetaMetrics was formed in 1984 and is based in Durham, North Carolina.

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Buyer(S) 1

Buyer

Apax

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1981
PE ASSETS 60.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apax Partners is a mega-sized private equity investment group, operating across the United States, Europe, Israel and Asia. Broad industry sectors of interest include tech & telecom, media, retail & consumer, healthcare, financial services, and business services. Apax will consider both minority and majority investment positions and prefers companies with strong market positions and growth potential. The Firm generally pursues platform acquisitions valued from €1 to €5 billion. Apax Partners was formed in 1981 and is based in London.


DEAL STATS #
Overall 210 of 244
Sector (Information Technology) 20 of 27
Type (Secondary Buyout) 45 of 60
State (North Carolina) 3 of 3
Country (United States) 80 of 94
Year (2019) 7 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-18 EVRY ASA

Fornebu, Norway

EVRY provides information technology services, financial institutions, national public sector entities, municipalities and health authorities.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-05 ADCO

Ratingen, Germany

ADCO operates the DIXI and TOI TOI brands providing portable toilet and sanitation equipment rental and services worldwide. From the simple toilet cabin to the luxury container with its choice of furnishings, ADCO offers tailored solutions to a variety of customers, covering everything from consultancy and planning to implementation and service, as well as professional and environmentally responsible disposal.

Buy -

Seller(S) 1

SELLER

Pamlico Capital

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1988
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Pamlico Capital is a private equity group focused on mid-sized transactions. Pamlico looks to invest $25 to $125 million per transaction. Sectors of interest include business and technology services, consumer products/services, industrial, energy, financial services, healthcare, media, and communications. Pamlico will consider both minority and majority positions. Prospective transactions include management or leveraged buyouts, recapitalizations, growth financings, mezzanine, and special situations. Pamlico was formerly known as Wachovia Capital Partners. The Firm was originally formed in 1988 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 48 of 61
Sector (Information Technology) 5 of 7
Type (Secondary Buyout) 16 of 21
State (North Carolina) 4 of 4
Country (United States) 46 of 59
Year (2019) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-16 US Eye

Sarasota, Florida, United States

US Eye is a provider of eye care services delivered through a vertically-integrated ophthalmology / optometry offering across nine clinics and two surgery centers. US Eye was founded in 1986 and is based in Sarasota, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-22 Service Express

Grand Rapids, Michigan, United States

Service Express is a provider of Third Party Maintenance (“TPM”) services for mission-critical data center infrastructure focused on server and storage equipment. Service Express was founded in 1986 and is based in Grand Rapids, Michigan.

Sell -