M&A Deal Summary

GI Partners and TA Associates Acquire Netsmart

On March 23, 2016, private equity firms GI Partners and TA Associates acquired internet software and services company Netsmart from Genstar Capital

Acquisition Highlights
  • This is GI Partners’ 3rd and TA Associates’ 13th transaction in the Internet Software and Services sector.
  • This is GI Partners’ 22nd and TA Associates’ 196th transaction in the United States.
  • This is GI Partners’ 1st and TA Associates’ 2nd transaction in Kansas.

M&A Deal Summary
Date 2016-03-23
Target Netsmart
Sector Internet Software and Services
Buyer(s) GI Partners
TA Associates
Sellers(s) Genstar Capital
Deal Type Secondary Buyout

Target

Netsmart

Overland Park, Kansas, United States
website
Netsmart is a provider of enterprise software and software as a service (SaaS) solutions for health and human services providers. Netsmart provides technology and expertise to help health and human services providers deliver effective, outcomes-based services and care to more than 25 million persons nationwide. Netsmart clients include mental health and addiction services agencies, health homes, psychiatric hospitals, private and group mental health practices, public health departments, social services, child and family services agencies, managed care organizations and vital records offices. Netsmart was founded in 1968 and is based in Overland Park, Kansas.

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Buyer(S) 2

Buyer

GI Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2001
PE ASSETS 16.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

GI Partners (Global Innovation Partners) is a private equity firm focused on control oriented investments in asset-backed businesses and properties located throughout North America and Western Europe. GI looks to invest up to $1500 million in companies generating predictable, recurring cash flows; underperforming businesses with intrinsic value; and direct asset investments with operational complexity. Sectors of interest include energy, education, healthcare services, leisure, retail, logistics, media, entertainment, financial services, technology, and telecommunications. GI Partners was formed in 2001 and has offices in San Francisco, Greenwich, and Chicago.

DEAL STATS #
Overall 31 of 58
Sector (Internet Software and Services) 3 of 6
Type (Secondary Buyout) 10 of 21
State (Kansas) 1 of 1
Country (United States) 22 of 46
Year (2016) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-24 Bellwether Behavioral Health

Bear, Delaware, United States

Bellwether Behavioral Health specializes in clinical, educational and residential services for children and adults with severe intellectual and developmental disabilities and dual diagnoses.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-17 Far Niente

Oakville, California, United States

Far Niente is a family-owned winery and vineyard company. Far Niente owns two winery facilities and ten stand-alone vineyard properties in Napa and Sonoma. Far Niente sells its wines in the national wholesale channel through a network of distributors, sells direct-to-trade in Northern California, and sells direct-to-consumers online and through its visitor centers. Far Niente was founded in 1885 and is based in Oakville, California.

Buy -
Buyer

TA Associates

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1968
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TA Associates is a private equity firm that targets investments in middle-market and large companies around the world. TA will consider control or minority investments in profitable companies and looks to commit between $70 and $500 million per transaction. TA proactively reaches out to companies directly in sourcing potential investment opportunities. Prospective businesses are generally valued between $100 million and $3 billion. Areas of interest include technology, software, communications, financial services, healthcare, business services, semiconductors/electronics, and consumer products/services. In addition to investing equity capital, TA also makes subordinated debt investments. TA's geographic preference is North America, Asia/Pacific, and Europe. TA Associates was formed in 1968 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 240 of 360
Sector (Internet Software and Services) 13 of 24
Type (Secondary Buyout) 25 of 67
State (Kansas) 2 of 2
Country (United States) 196 of 261
Year (2016) 6 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-23 Bigpoint

Hamburg, Germany

Bigpoint GmbH is a publisher and developer of online games. Bigpoint.com is a gaming portal that offers a wide variety of high-quality online games.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-18 Accruent

Austin, Texas, United States

Accruent, Inc. is a provider of physical resource management software. Accruent provides market planning, site selection, project management, lease administration, facilities and space management software that is purpose-built for specific industries to deliver greater customer value. Accruent, Inc. was founded in 1995 and is based in Austin, Texas.

Sell -

Seller(S) 1

SELLER

Genstar Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1988
PE ASSETS 49.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Genstar Capital is a private equity firm that seeks investments in life science, healthcare, medical products, industrial technology, software, financial services, packaging, building materials, manufacturing, and business services companies. Genstar looks to invest between $50 and $400 million of equity capital in businesses valued up to $1 billion. Target transaction situations include control-oriented leveraged buyouts of corporate divisions, privately held businesses or public companies, minority investments in privately held businesses or public companies, ownership restructurings/recapitalizations of privately held businesses, growth equity financings, partnerships with other strategic or financial buyers, and take privates. Genstar Capital was formed in 1988 and is based in San Francisco, California.

DEAL STATS #
Overall 31 of 59
Sector (Internet Software and Services) 2 of 4
Type (Secondary Buyout) 11 of 23
State (Kansas) 1 of 1
Country (United States) 28 of 53
Year (2016) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-08 Clario

Philadelphia, Pennsylvania, United States

Clario offers a compelling combination of technology, services, and clinical expertise, helping customers to deliver successful clinical trial outcomes by ensuring high-quality data capture, reduced costs, and shortened study timelines. Clario was founded in 1972 and is based in Philadelphia, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-04 Stack Sports

Plano, Texas, United States

Stack Sports is a developer of easy-to-use team management software solutions for national governing bodies, youth sports leagues, clubs and associations. Companies under the Blue Star Sports platform include Bonzi, Pointstreak, Goalline, PrimeTime Sports, SDI Camps, LeagueLineup, RaceWire, and CaptainU. Stack Sports was founded in 2016 and is headquartered in Plano, Texas.

Buy -
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