M&A Deal Summary

GTCR Acquires RevSpring

On November 7, 2016, private equity firm GTCR acquired information technology company RevSpring from CIP Capital

Acquisition Highlights
  • This is GTCR’s 12th transaction in the Information Technology sector.
  • This is GTCR’s 92nd transaction in the United States.
  • This is GTCR’s 7th transaction in Tennessee.
Investment Fate
  • RevSpring was sold to a consortium of financial buyers in 2024.

M&A Deal Summary
Date 2016-11-07
Target RevSpring
Sector Information Technology
Buyer(s) GTCR
Sellers(s) CIP Capital
Deal Type Secondary Buyout

Target

RevSpring

Nashville, Tennessee, United States
website
RevSpring is a provider of multi-channel billing and communications solutions to the healthcare and financial services industries. The company helps customers accelerate revenue through an end-to-end platform of offerings that includes physical and electronic invoices, consumer payment portals, data cleansing solutions, and analytics tools that validate consumer identities and optimize engagement. It serves a diversified client base of approximately 2,000 health systems & hospitals, revenue cycle management providers, and financial services organizations. RevSpring was formed in 1997 and is based in Wixom, Michigan.

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Buyer(S) 1

Buyer

GTCR

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1980
PE ASSETS 15.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

GTCR is a private equity firm that typically partners with management when pursuing acquisitions. The Firm looks to grow companies through build-on acquisitions, consolidations, and internal growth. GTCR will consider both equity and mezzanine capital commitments and concentrates its investment activity in consumer products & services, healthcare services, outsourced business services, technology, transaction processing, and pharma/medical products. GTCR was formed in 1980 and is based in Chicago, Illinois.

DEAL STATS #
Overall 96 of 139
Sector (Information Technology) 12 of 14
Type (Secondary Buyout) 17 of 33
State (Tennessee) 7 of 9
Country (United States) 92 of 134
Year (2016) 8 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-02 Inteliquent

Chicago, Illinois, United States

Inteliquent is a communication enablement platform offering nationwide wholesale communication services. The company provides easy-to-use voice, messaging and mobility solutions to the wireless, over-the-top app, VoIP and wireline communications companies that choose to focus on customer-facing applications and service rather than infrastructure management. Inteliquent combines an intuitive software-based application program interface with its nationwide network of physical switches and dedicated transport to offer its leading wholesale telecommunication services.

Buy $800M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-13 IQNavigator

Centennial, Colorado, United States

IQNavigator is a provider of services procurement and optimization solutions. IQNavigator’s vendor-neutral Managed Service Programs (MSP) and SaaS services procurement platform enables companies to source, procure, manage and measure all categories of indirect services on a global basis. The data and processes available through IQNavigator’s platform allow clients to realize potential cost savings, efficiency gains, improved compliance, faster fulfillment times and better reporting capabilities. IQNavigator was established in 1999 and is based in Centennial, Colorado.

Sell -

Seller(S) 1

SELLER

CIP Capital

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2010
Size Middle-Market
Type Sector Focused
DESCRIPTION

CIP Capital is a private equity firm focused on control investments in middle-market, North American business information and outsourced service companies. Specific areas of interest include B2B information management, business process outsourcing, marketing services and knowledge services. CIP looks to invest $25 to $125 million in transactions valued up to $200 million. Funds are typically used to fund buyouts or growth initiatives. CIP Capital was formed in 2010 and is based in New York City.

DEAL STATS #
Overall 4 of 13
Sector (Information Technology) 2 of 4
Type (Secondary Buyout) 2 of 6
State (Tennessee) 1 of 1
Country (United States) 4 of 13
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-09 Cisive

Holtsville, New York, United States

Cisive is a provider of tech-enabled and compliance-driven human capital management and risk management solutions. It currently serves clients across the financial services, transportation, and media and telecom end-markets, among others, and offers transportation clients a comprehensive, industry-focused solution through its Driver iQ branded offering. Cisive was formed in 1977 and is headquartered in Holtsville, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-31 CSS

New York, New York, United States

CSS is a provider of technology-enabled regulatory and compliance solutions to the financial services industry. The CSS platform provides a comprehensive technology-enabled offering encompassing regulatory reporting, data management, outsourced compliance management services, compliance workflow tools, shareholding disclosure, trade monitoring, trading analytics, and cybersecurity solutions. CSS was founded in 2017 and is based in New York City.

Buy -
Mergr

Product

Company

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