M&A Deal Summary

TA Associates, HGGC and Partners Group AG Acquire Idera

On September 10, 2014, private equity firm TA Associates, private equity firm HGGC and asset manager Partners Group AG acquired software company Idera

Acquisition Highlights
  • This is TA Associates’ 42nd, HGGC’s 5th and Partners Group AG’s 2nd transaction in the Software sector.
  • This is TA Associates’ 184th, HGGC’s 16th and Partners Group AG’s 8th transaction in the United States.
  • This is TA Associates’ 21st, HGGC’s 1st and Partners Group AG’s 2nd transaction in Texas.

M&A Deal Summary

Date 2014-09-10
Target Idera
Sector Software
Buyer(s) TA Associates
HGGC
Partners Group AG
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) William Blair (Financial)
Horzepa Spiegel & Associates (Legal)

Target

Idera

Houston, Texas, United States
website
Idera provides a suite of software tools to technical users, comprising of database, development, DevOps and software testing tools. These include the Idera line of SQL management tools, integrated development environments under the Embarcadero brand, UI components through Sencha, and test management and automation through TestRail and Ranorex. Their tools help database and system administrators maintain the performance and functionality of their systems, software developers produce better products more efficiently, and quality assurance professionals improve collaboration and automation. Idera was formed in 2004 and is headquartered in Houston, Texas.

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Buyer(S) 3

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 218 of 360
Sector (Software) 42 of 85
Type (Buyout (LBO, MBO, MBI)) 64 of 71
State (Texas) 21 of 28
Country (United States) 184 of 261
Year (2014) 10 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-09 Entoria

Levallois-Perret, France

Entoria is an insurance wholesale broker specializing in complementary health and death & disability insurance for self-employed individuals and SMEs. Entoria offers a full range of products and services to secure their incomes, preserve their estates, protect their health and provide protection against accidents and loss of life. Entoria was founded in 2000 and is based in Levallois-Perret, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-25 Numeric Investors

Boston, Massachusetts, United States

Numeric Investors is an active quantitative manager of U.S. and international equity portfolios offering investment strategies under a variety of investment styles and objectives.

Sell $494M
Buyer

HGGC

Palo Alto, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2007
PE ASSETS 6.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HGGC (formerly Huntsman Gay Global Capital) focuses on middle-market leveraged buyouts, growth equity financings, recapitalizations, take privates, and corporate divestitures. The Firm primarily targets North American companies, but will consider international opportunities as well. HGGC looks for companies with at least $100 million in revenue. HGGC primarily targets enterprise software companies, however, the Firm will also consider opportunities in business services, consumer services, financial services, healthcare, industrial services, and information services. HGGC was formed in 2007 and is based in Palo Alto, California.


DEAL STATS #
Overall 18 of 46
Sector (Software) 5 of 8
Type (Buyout (LBO, MBO, MBI)) 7 of 11
State (Texas) 1 of 6
Country (United States) 16 of 40
Year (2014) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-08 Pearl

Plantation, Florida, United States

Pearl is a comprehensive Managing General Agent (MGA) providing a full range of services from underwriting and policy management to claims processing and management to the non-standard auto insurance market. Pearl was formed in 1994 and is based in Plantation, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-21 Hollander Sleep Products

Boca Raton, Florida, United States

Hollander Sleep Products is a producer of sleep products, including high-quality synthetic and down (natural) filled pillows, comforters, mattress pads and other related bedding products.

Sell -
DESCRIPTION

Partners Group is a global investment management firm with a variety of funds and institutional clients. The Firm's direct investment group looks to invest in or acquire market leading companies with growth opportunities linked to technology. Partners is a hands-on investor and looks to actively support its portfolio companies with expansion, operational, and governance structure support. Partners Group was established in 1996 and is headquartered in Zug, Switzerland.


DEAL STATS #
Overall 20 of 87
Sector (Software) 2 of 6
Type (Buyout (LBO, MBO, MBI)) 4 of 16
State (Texas) 2 of 2
Country (United States) 8 of 33
Year (2014) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-04 Enerya

Istanbul, Turkey

Enerya owns and operates nine natural gas distribution companies in different regions in Western and Central Turkey, each with exclusive 30-year concession rights in their respective region, giving it one of the largest and most diversified natural gas distribution portfolios in Turkey. Enerya was founded in 2003 and is based in Istanbul, Turkey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-17 Dynacast

Charlotte, North Carolina, United States

Dynacast is a provider of precision die cast components for a wide variety of industries including healthcare, consumer electronics, computers and peripherals, and automotive, among others.

Buy -