M&A Deal Summary

NexPhase Capital Acquires Surgent

On November 19, 2019, private equity firm NexPhase Capital acquired education company Surgent from Spire Capital Partners

Acquisition Highlights
  • This is NexPhase Capital’s 1st transaction in the Education sector.
  • This is NexPhase Capital’s 32nd transaction in the United States.
  • This is NexPhase Capital’s 1st transaction in Pennsylvania.

M&A Deal Summary

Date 2019-11-19
Target Surgent
Sector Education
Buyer(s) NexPhase Capital
Sellers(s) Spire Capital Partners
Deal Type Secondary Buyout
Advisor(s) Piper Jaffray Companies (Financial)
Dentons
Eisner LLP (Legal)

Target

Surgent

Radnor, Pennsylvania, United States
website
Surgent provides continuing professional education and exam preparation courses to the accounting, finance and healthcare sectors. Surgent’s services help exam takers become credentialed and satisfy required credit hours and remain informed on the latest trends in their industries thereafter. Surgent was founded in 1985 and is based in Radnor, Pennsylvania.

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Buyer(S) 1

Buyer

NexPhase Capital

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2007
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Moelis Capital Partners (MCP) is the private equity investment arm of investment bank Moelis & Company. MCP targets growth equity and control buyouts requiring equity investments of $25 to $75 million. Moelis has particular interest in the business services, consumer and retail, financial services, healthcare services, industrial and telecom industries. Moelis Capital Partners was formed in 2007 and is based in New York City.


DEAL STATS #
Overall 33 of 40
Sector (Education) 1 of 3
Type (Secondary Buyout) 9 of 9
State (Pennsylvania) 1 of 2
Country (United States) 32 of 39
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-03 Popcornopolis

Vernon, California, United States

Popcornopolis is a manufacturer of premium-quality, ready-to-eat popcorn. From the select popcorn kernels that are American-grown, non-GMO, and naturally gluten-free, to the real ingredients that create mouthwatering flavors, every team member at Popcornopolis pours their heart into creating high-quality snacks. The flavors range from famously indulgent Zebra, Unicorn, and Double Drizzle varieties to better-for-you favorites Nearly Naked and Kettle Corn. Popcornopolis products are available in Club, Food, Drug, Mass, Convenience, and Direct to Consumer channels. Popcornopolis was founded in 2003 and is based in Vernon, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-04 Flexible Architecture and Simplified Technology

Iselin, New Jersey, United States

Flexible Architecture and Simplified Technology LLC (FAST) is a provider of core software solutions including policy administration, new business, underwriting, distribution management and claims processing to the insurance industry.

Sell $194M

Seller(S) 1

SELLER

Spire Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2000
PE ASSETS 900M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Spire Capital Partners is a private equity firm that targets buyout investments in mid-sized information services, media, communications, and business service companies. The Firm looks for cash-flow positive, US-based businesses with high barriers to entry. Spire seeks to commit $15 to $125 million of equity per transaction and has an investment horizon of three to seven years. Spire Capital Partners was formed in 2000 and is based in New York City.


DEAL STATS #
Overall 24 of 26
Sector (Education) 3 of 3
Type (Secondary Buyout) 4 of 4
State (Pennsylvania) 1 of 1
Country (United States) 23 of 25
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-01 Lighthouse

Seattle, Washington, United States

Lighthouse provides software and services to manage the increasingly complex landscape of enterprise data for compliance and legal teams, whether they’re reacting to incidents like litigation, government, or internal investigations, or designing programs to proactively uncover the potential for future incidents. Lighthouse was formed in 1995 and is based in Seattle, Washington.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-28 Advocate

Norcross, Georgia, United States

Advocate is a Premier TBM Services company, provides technology business management and technology expense management services to enterprise organizations looking to optimize their technology strategy and infrastructure. Advocate was founded in 2001 and is based in Norcross, Georgia.

Buy -