M&A Deal Summary

Mill Point Capital Acquires Verinext

On June 25, 2019, private equity firm Mill Point Capital acquired information technology company Verinext from Marlin Equity Partners

Acquisition Highlights
  • This is Mill Point Capital’s 2nd transaction in the Information Technology sector.
  • This is Mill Point Capital’s 10th transaction in the United States.
  • This is Mill Point Capital’s 1st transaction in Pennsylvania.

M&A Deal Summary

Date 2019-06-25
Target Verinext
Sector Information Technology
Buyer(s) Mill Point Capital
Sellers(s) Marlin Equity Partners
Deal Type Secondary Buyout

Target

Verinext

Blue Bell, Pennsylvania, United States
website
Verinext is an IT services firm that specializes in app development, business intelligence, infrastructure services, mobility, managed services, and cloud hosting services. Verinext was founded in 1999 and is based in Blue Bell, Pennsylvania.

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Buyer(S) 1

DESCRIPTION

Mill Point Capital is a private equity firm focused on buyouts of established middle-market companies with strong track records. The Firm will consider opportunities throughout North American and generally looks to invest $15 to $80 million in companies valued up to $250 million. Sectors of interest include industrial and business services. Mill Point Capital is based in New York City.


DEAL STATS #
Overall 10 of 24
Sector (Information Technology) 2 of 5
Type (Secondary Buyout) 4 of 5
State (Pennsylvania) 1 of 2
Country (United States) 10 of 23
Year (2019) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-01 KEMP

Melville, New York, United States

KEMP is a provider of load balancer and application delivery controller (“ADC”) solutions and services. Leveraging an agile per-app load balancing / ADC consumption model, predictive analytics and automated issue resolution, Kemp is radically simplifying how customers optimize, analyze and secure their applications across private and multi-cloud environments. KEMP was founded in 2000 and is based in Melville, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-16 Spire Power Solutions

Athens, Georgia, United States

Spire Power Solutions brings together a wide range of transformers and power solutions to serve utility, renewable energy, public power, commercial, and industrial markets across North America. With rapid response times and over 100 years of operations and engineering expertise, Spire delivers a complete range of proven products, services, and support tailored for customers’ success. Spire Power Solutions was formed in 2019 and is based in Athens, Georgia.

Buy $68M

Seller(S) 1

SELLER

Marlin Equity Partners

Hermosa Beach, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2005
PE ASSETS 8.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Marlin Equity's headquarters in Hermosa Beach, California.
Marlin Equity's headquarters in Hermosa Beach, California.

Marlin Equity Partners is a private investment firm focused on acquiring distressed businesses with sales of $10 million to $2 billion. Marlin has a special interest in non-core or underperforming divisions of larger corporations, as well as companies facing some sort of financial, operational or market-related transition. Marlin is a generalist investor and will consider opportunities in technology (software, IT, payment systems, hardware, communications, internet), healthcare, consumer (apparel, retail, consumer products, food/beverage), services (business, financial, consumer, education), manufacturing (automotive, industrial, metals, plastics), aerospace, defense, and media. Marlin prefers businesses with scalable business models, strong installed customer bases, defensible market positions, and barriers to entry. Marlin Equity Partners was formed in 2005 and is based in Hermosa Beach, California with an additional office in London.


DEAL STATS #
Overall 35 of 55
Sector (Information Technology) 3 of 7
Type (Secondary Buyout) 4 of 9
State (Pennsylvania) 2 of 2
Country (United States) 30 of 42
Year (2019) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-06 Puzzel

Oslo, Norway

Puzzel is a provider of cloud-based contact center software to support smaller enterprises and global corporations. Puzzel was founded in 2016 and is based in Oslo, Norway.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-08 Clarus Commerce

Rocky Hill, Connecticut, United States

Clarus Commerce is a developer and operator of cloud based comprehensive platform for membership and loyalty programs through an owned and operated channel and white label channel. Clarus Commerce was founded in 2001 and is based in Rocky Hill, Connecticut.

Buy -