M&A Deal Summary |
|
|---|---|
| Date | 2021-07-26 |
| Target | Medallia |
| Sector | Internet Software and Services |
| Buyer(s) |
Thoma Bravo
Antares Capital Alberta Investment Management |
| Deal Type | Add-on Acquisition |
| Deal Value | 6.4B USD |
| Advisor(s) | Morgan Stanley BofA Securities Wells Fargo Securities (Financial) Wilson Sonsini Goodrich & Rosati (Legal) |
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| Category | Private Equity Firm |
|---|---|
| Founded | 1980 |
| PE ASSETS | 127.0B USD |
| Size | Mega |
| Type | Sector Agnostic |
Thoma Bravo is a private equity firm that primarily invests in or acquires US-based middle-market businesses. While Thoma Bravo will consider a variety of transaction situations, including take-privates, buyouts, carve-outs, recapitalizations, and growth equity financings, the Firm has a special interest in tech consolidation opportunities. Target companies generally have a history of profitability with EBITDA of at least $20 million. The Firm's equity commitment size range is $100 to $750 million. Sectors of interest include enterprise and infrastructure software, education, distribution, financial services and consumer goods/services. The Firm will not invest in new inventions or technologies, developmental products or services, start-ups, biotech, motion pictures, distressed businesses, oil/gas, or real estate. Thoma Bravo was formerly known as Thoma Cressey Bravo and before that Golder Thoma & Co. The Firm was originally formed in 1980 and is based in Chicago, Illinois.
| DEAL STATS | # |
|---|---|
| Overall | 107 of 134 |
| Sector (Internet Software and Services) | 16 of 25 |
| Type (Add-on Acquisition) | 1 of 1 |
| State (California) | 25 of 31 |
| Country (United States) | 97 of 117 |
| Year (2021) | 11 of 19 |
| Size (of disclosed) | 7 of 46 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2021-07-09 |
Auctane
Austin, Texas, United States Auctane is a provider of Internet-based mailing and shipping solutions. From same-day delivery and intuitive shipping software to a network of 3PL providers — and everything in between — Auctane’s suite of technology solutions solves a variety logistic challenges. Auctane was formerly known as Stamps.com and changed its name in 2021. Auctane is based in Austin, Texas. |
Buy | $6.6B |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2021-07-27 |
MeridianLink
Costa Mesa, California, United States MeridianLink provides mission-critical software solutions to financial institutions. The company’s LoansPQ, LendingQB, and ACTion platforms allow banks and credit unions to process and accept consumer and mortgage loans as well as account opening applications, and integrate seamlessly with all major core and data services providers. It also offers Synergy, a highly customizable and configurable loan processing, and decisioning workflow product, as well as MortgageCreditLink, the dominant provider of “tri-merge” integration functionality into credit bureaus and other third-party consumer and business databases. MeridianLink was formed in 1998 and is based in Costa Mesa, California. |
Sell | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 1993 |
| Size | Small |
| Type | Sector Agnostic |
Antares Capital is a private investment group that targets growth capital financings as well as management buyout opportunities. The Firm focuses on investments based in the Southeast US and Texas. Prospective companies generally have proven business models, modest capital requirements for growth, and operate in large and growing markets. The Firm looks to commit $500k to $5 million per investment. Antares will not invest in real estate, mineral exploration, distributors, franchisees, or project financings. Antares was founded in 1993 and is based in Miami, Florida.
| DEAL STATS | # |
|---|---|
| Overall | 49 of 54 |
| Sector (Internet Software and Services) | 4 of 4 |
| Type (Add-on Acquisition) | 1 of 1 |
| State (California) | 6 of 7 |
| Country (United States) | 48 of 53 |
| Year (2021) | 3 of 6 |
| Size (of disclosed) | 1 of 4 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2021-07-07 |
Ascensus Specialties
Bellevue, Washington, United States Ascensus Specialties is a manufacturer of specialty chemicals primarily in two end-markets: pharmaceutical drug manufacturing and pulp & paper processing. In pharmaceutical drug manufacturing, sodium borohydride is used as a reducing agent. In pulp & paper processing, sodium borohydride is used as a bleaching agent to prepare paper products for end-customer use. Ascensus Specialties was founded 2014 and is based in Bellevue, Washington. |
Buy | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2021-08-31 |
Arrowhead Engineered Products
Blaine, Minnesota, United States Arrowhead Engineered Products is a specialty supplier and distributor of aftermarket replacement parts for a wide variety of equipment types across the outdoor power equipment, Powersports, agricultural, industrial and automotive industries. Arrowhead Engineered Products was founded in 1986 and is based in Blaine, Minnesota. |
Sell | - |
| Category | Pension |
|---|---|
| Founded | 2008 |
| PE ASSETS | 4.5B CAD |
| Size | Mega |
| Type | Sector Agnostic |
Alberta Investment Management Corporation (AIMCo) is a Canadian diversified institutional investment manager serving pension, endowment and government funds in the province of Alberta. In addition to investing in public equities, fixed income, and debt, AIMCo looks to invest in private equity, real estate, timberlands, and infrastructure. AIMCo's private equity group invests in funds and directly in companies throughout North America and Western Europe. Areas of interest include consumer, industrials, business services, financial services, technology, and healthcare. AIMCo is based in Edmonton, with additional offices in Toronto and London.
| DEAL STATS | # |
|---|---|
| Overall | 27 of 30 |
| Sector (Internet Software and Services) | 4 of 4 |
| Type (Add-on Acquisition) | 3 of 3 |
| State (California) | 3 of 3 |
| Country (United States) | 13 of 15 |
| Year (2021) | 5 of 6 |
| Size (of disclosed) | 3 of 9 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2021-05-17 |
Environmental Resources Management
London, United Kingdom Environmental Resources Management (ERM) is a global provider of environmental, health, safety, risk, and social consulting services. Environmental Resources Management (ERM) was founded in 1871 and is based in London, United Kingdom. |
Sell | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2021-10-01 |
Washington Analysis
Washington, District of Columbia, United States Washington Analysis is an independent institutional research firm specializing in identifying risks and opportunities across asset-classes emanating from courts, Congress, and regulators, at both the state and federal levels. The company strives to be predictive in separating headline risk from fundamental changes that have a more pervasive and lasting investment impact. It also keeps an eye towards identifying the non-consensus view and looks to correct widely held misperceptions whenever possible. Washington Analysis was formed in 1973 and is based in Washington DC. |
Sell | - |
