M&A Deal Summary

Turbonomic Acquires SevOne

On November 4, 2019, Turbonomic acquired information technology company SevOne from Bain Capital Private Equity and HarbourVest Partners

Acquisition Highlights
  • This is Turbonomic’s 1st transaction in the Information Technology sector.
  • This is Turbonomic’s 1st transaction in the United States.
  • This is Turbonomic’s 1st transaction in Delaware.

M&A Deal Summary

Date 2019-11-04
Target SevOne
Sector Information Technology
Buyer(s) Turbonomic
Sellers(s) Bain Capital Private Equity
HarbourVest Partners
Deal Type Add-on Acquisition

Target

SevOne

Wilmington, Delaware, United States
website
SevOne, Inc. delivers comprehensive real-time IT infrastructure monitoring, troubleshooting and performance reporting solution. The company invented a proprietary, next-generation distributed technology, called the SevOne Cluster™, that combines the cutting edge principles behind peer-to-peer sharing and big data analytics to scale smoothly so that millions of IT elements, across all monitoring technologies, can be managed and provide a single view to the user. SevOne was formed in 2005 and is based in Wilmington, Delaware.

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Buyer(S) 1

Buyer

Turbonomic

Boston, Massachusetts, United States

website


Category Company
Founded 2009
Sector Software
DESCRIPTION

Turbonomic is an application resource management that simultaneously optimizes application performance, compliance, and cost in real-time. The software platform automatically identifies and executes the right actions at the right time at every layer of the application stack. Turbonomic was formed in 2009 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 1 of 1
Sector (Information Technology) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Delaware) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1

Seller(S) 2

SELLER

Bain Capital Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1984
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Bain Capital Private Equity (BCPE), is the private equity investment arm of alternative asset management firm, Bain Capital. BCPE targets leveraged buyout and growth capital transactions in a wide variety of industries including information technology, communications, media, healthcare, industrial/manufacturing, retail/consumer, and financial services. Bain Capital is based in Boston with additional offices in New York, London, Mumbai, Hong Kong, Shanghai, Tokyo, and Munich.


DEAL STATS #
Overall 122 of 138
Sector (Information Technology) 4 of 5
Type (Add-on Acquisition) 35 of 40
State (Delaware) 1 of 1
Country (United States) 76 of 84
Year (2019) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-29 Waystar

Louisville, Kentucky, United States

Waystar is a provider of next-generation, cloud-based technology that simplifies and unifies the healthcare revenue cycle. The Waystar platform removes friction in payment processes, streamlines workflows and improves financials for providers in every care setting. Waystar has scored Best in KLAS® every year since 2010 and earned multiple #1 rankings from Black Book™ surveys since 2012. The Waystar platform supports more than 450,000 providers, 750 health systems and hospitals, and 5,000 payers and health plans.

Sell $2.7B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-27 TOMS

Culver City, California, United States

TOMS designs and sells lightweight shoes and other products worldwide. The company’s mission-driven business model is focused on helping and advancing health, education and economic opportunities for children and their communities around the world. TOMS was founded in 2006 and is based in Culver City, California.

Sell -
SELLER

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 100 of 127
Sector (Information Technology) 13 of 18
Type (Add-on Acquisition) 39 of 55
State (Delaware) 1 of 1
Country (United States) 63 of 81
Year (2019) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-28 Sykes Holiday Cottages

Cheshire, United Kingdom

Sykes Holiday Cottages is an independent holiday cottage rental agency, that offers a fantastic choice of over 17,500 holiday homes across the UK, Ireland and New Zealand – from cosy cottages for two to larger properties that sleep 20 or more. Sykes Holiday Cottages was founded in 1991 and is based in Cheshire, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-10 Earth Networks

Germantown, Maryland, United States

Earth Networks helps organizations mitigate financial, operational and human risk by providing environmental intelligence from the world’s largest hyperlocal weather network. Schools, airports, sports teams, utilities, and government agencies rely on our early warning solutions to safeguard lives, prepare for weather events and optimize operations. Companies across all industries use Earth Networks weather data to automate decisions regarding risk management, business continuity, and asset protection. Earth Networks was founded in 1993 and is based in Germantown, Maryland.

Sell -