M&A Deal Summary

Siris Capital Group Acquires TPx Communications

On August 19, 2019, private equity firm Siris Capital Group acquired communications company TPx Communications from Clarity Partners, Investcorp International and Arena Capital Partners

Acquisition Highlights
  • This is Siris Capital Group’s 3rd transaction in the Communications sector.
  • This is Siris Capital Group’s 15th transaction in the United States.
  • This is Siris Capital Group’s 5th transaction in California.

M&A Deal Summary

Date 2019-08-19
Target TPx Communications
Sector Communications
Buyer(s) Siris Capital Group
Sellers(s) Clarity Partners
Investcorp International
Arena Capital Partners
Deal Type Secondary Buyout
Advisor(s) Evercore Group
Q Advisors LLC (Financial)
Gibson, Dunn & Crutcher (Legal)

Target

TPx Communications

Los Angeles, California, United States
website
TelePacific's office in San Jose, California.
TelePacific's office in San Jose, California.
TPx Communications is a provider of UCaaS, Managed IT services and Managed Connectivity services, with approximately 30,000 customers and 53,000 customer locations across the U.S. TPx local exchange carrier that delivers local, long-distance, broadband Internet, web hosting, co-location, cloud-based and data transport services to business customers in California, Nevada and Texas. TPx Communications was established in 1998 and is based in Los Angeles, California.

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Buyer(S) 1

Buyer

Siris Capital Group

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2011
PE ASSETS 2.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Siris Capital Group is a private equity firm focused on control investments in technology, telecommunications, and healthcare companies. Siris looks to acquire large companies valued from $250 million to $2 billion. The Firm was spun out of hedge fund SAC Capital Advisors in 2011. Siris Capital Group is based in New York City.


DEAL STATS #
Overall 16 of 18
Sector (Communications) 3 of 3
Type (Secondary Buyout) 2 of 3
State (California) 5 of 5
Country (United States) 15 of 17
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-15 EFI

Fremont, California, United States

EFI is a provider of digital printing solutions. EFI's products include industrial super-wide and wide format, label and packaging, textile, and ceramic tile decoration digital inkjet printers. EFI's products are designed to automate print and business processes, streamline workflow, provide value-added services, and produce accurate digital output. EFI was formed in 1988 and is based in Fremont, California.

Buy $1.7B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-28 Pulse Secure

San Jose, California, United States

Pulse Secure LLC provides easy, comprehensive software-driven Secure Access solutions for people, devices, things, and services that improve visibility, protection, and productivity for our customers. Pulse Secure LLC suites and SaaS platform uniquely integrate cloud, mobile, application, and network access to enable hybrid IT in a Zero Trust world. Over 24,000 enterprises and service providers across every vertical entrust Pulse Secure to empower their mobile workforce to securely access applications and information in the data center and cloud while ensuring business compliance.

Sell -

Seller(S) 3

SELLER

Clarity Partners

Sherman Oaks, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2000
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Clarity Partners is a specialist private equity firm focused on investments in the communications and media sectors. Specific areas of interest include wireless, wireline and broadband services and applications; communications infrastructure; traditional and emerging media; information technology and business services. Clarity will consider making investments at all stages of company development, including early and late stage venture investing, growth equity financings, leveraged buyouts, and divestitures. Clarity Partners was formed in 2000 and is based in Beverly Hills, California.


DEAL STATS #
Overall 14 of 14
Sector (Communications) 4 of 4
Type (Secondary Buyout) 4 of 4
State (California) 7 of 7
Country (United States) 13 of 13
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-05 CaseStack

Santa Monica, California, United States

CaseStack, Inc. is a provider of logistics outsourcing services to mid-sized consumer packaged goods companies that sell products to retailers, distributors and other manufacturers.

Sell $225M
SELLER

Investcorp International

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Asset Manager
Founded 1982
PE ASSETS 21.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Investcorp International, Inc. is a publicly traded global investment group focused on a variety of investment disciplines. Practice areas include private equity in North America and Western Europe, hedge funds, US real estate, technology investments, and Middle Eastern private equity. Within North America/Europe private equity, Investcorp targets market leaders with proven track records. It looks to invest $15 to $50 million in companies with revenues of $10 to $250 million. Investcorp's technology group sponsors growth-oriented control investments in the tech sector. Investcorp's Middle East practice focuses on buyout/build opportunities in North Africa and the Gulf Region. Target sectors include services, infrastructure, manufacturing, and energy. Investcorp was formed in 1982 and is based in Manama, Bahrain.


DEAL STATS #
Overall 93 of 106
Sector (Communications) 4 of 4
Type (Secondary Buyout) 29 of 35
State (California) 11 of 13
Country (United States) 57 of 62
Year (2019) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-18 Contentserv

Ermatingen, Switzerland

Contentserv is a provider of Product Information Management (“PIM”) software combining Product Information Management (PIM), Master Data Management (MDM), and Marketing Experience Management (MxM) though Product Experience Platform, which allows retailers and brand owners to offer the rich, relevant, and emotional product experiences that exceed their customers'​ expectations. Contentserv was founded in 1999 and is based Ermatingen, Switzerland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-16 Vivaticket

Bologna, Italy

Vivaticket is a global provider of integrated ticketing software solutions to the leisure and entertainment, sport, culture, and tradeshow industries. Vivaticket software solutions are widely recognized for their sophistication, reliability, and ability to address the full customer experience from ticket purchasing to on-site activities. Vivaticket was founded in 1999 and is based in Bologna, Italy.

Buy -
SELLER

Arena Capital Partners

New York, New York, United States

website


Category Private Equity Firm
Founded 1997
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Arena Capital Partners is a private investment firm that targets smaller middle-market service oriented companies. The firm looks to support growth and expansion strategies in businesses generating sales up to $75 million and valued less than $50 million. Areas of interest include communications services, consumer goods and services, education and training, financial services and information services. Arena Captial Partners was formed in 1997 and is based in New York City. It's current investment status is unknown.


DEAL STATS #
Overall 5 of 5
Sector (Communications) 1 of 1
Type (Secondary Buyout) 2 of 2
State (California) 1 of 1
Country (United States) 5 of 5
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-03 TIAA Bank

Jacksonville, Florida, United States

TIAA Bank provides full-service, nationwide banking and lending services to consumer, commercial and institutional clients through a variety of channels, including online, its Florida-based financial centers and at other business offices throughout the country.

Sell -