M&A Deal Summary

Vista Equity Partners, TA Associates, Golub Capital, Charlesbank Capital Partners and Insight Partners Acquire Aptean

On August 7, 2012, private equity firm Vista Equity Partners, private equity firm TA Associates, lender Golub Capital, private equity firm Charlesbank Capital Partners and venture capital firm Insight Partners acquired software company Aptean

Acquisition Highlights
  • This is Vista Equity Partners’ 13th, TA Associates’ 34th, Golub Capital’s 2nd, Charlesbank Capital Partners’ 1st and Insight Partners’ 4th transaction in the Software sector.
  • This is Vista Equity Partners’ 25th, TA Associates’ 162nd, Golub Capital’s 23rd, Charlesbank Capital Partners’ 37th and Insight Partners’ 8th transaction in the United States.
  • This is Vista Equity Partners’ 4th, TA Associates’ 5th, Golub Capital’s 2nd, Charlesbank Capital Partners’ 1st and Insight Partners’ 1st transaction in Georgia.

M&A Deal Summary

Date 2012-08-07
Target Aptean
Sector Software
Buyer(s) Vista Equity Partners
TA Associates
Golub Capital
Charlesbank Capital Partners
Insight Partners
Deal Type Consolidation

Target

Aptean

Alpharetta, Georgia, United States
website
Aptean's headquarters in Atlanta, Georgia.
Aptean's headquarters in Atlanta, Georgia.
Aptean is a provider of industry-specific software solutions that help businesses manage their resources, supply chains, employees, and customer relationships. Aptean provides very specific industries with very specific ERP, supply chain management and customer experience solutions. In today’s fast-paced, highly competitive economy, organizations don’t have time to waste forcing homegrown software, spreadsheets and one-size-fits-all solutions to do things they were never designed to do. Aptean is based in Alpharetta, Georgia.

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Buyer(S) 5

Buyer

Vista Equity Partners

Austin, Texas, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2000
PE ASSETS 100.0B USD
Size Mega
Type Sector Focused
DESCRIPTION
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.

Vista Equity Partners is a mega-sized asset management firm focused on private equity, public equity, credit, and other strategies. The Firm's private equity group looks to invest in and acquire software and technology enabled services companies. Specific areas of interest include software, software-as-a-service (SaaS), technology-enabled business services, and technology-enabled information services. Vista can commit up to $700 million per transaction and will consider a variety transaction situations, including management/leveraged buyouts, growth or acquisition financings, recapitalizations or restructurings, spinouts, and take privates. Vista Equity Partners was formed in 2000 and is based in Austin, Texas.


DEAL STATS #
Overall 29 of 143
Sector (Software) 13 of 58
Type (Consolidation) 1 of 5
State (Georgia) 4 of 8
Country (United States) 25 of 131
Year (2012) 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-30 Sunquest Information Systems

Tucson, Arizona, United States

Sunquest Information Systems, Inc. is a provider of clinical and financial software solutions for the healthcare industry. The company designs, develops, and supports a comprehensive suite of information products for hospitals and commercial laboratories that include best-of-breed laboratory, radiology, and pharmacy software systems.

Sell $1.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-14 Relias Learning

Boca Raton, Florida, United States

Relias Learning LLC is a provider of verticalized e-learning solutions through SaaS-based software and related course content. The solutions enable organizations to remain in compliance with regulatory and accreditation requirements and offer continuing education solutions to current employees. Relias Learning was founded in 2012 and is based in Boca Raton, Florida.

Buy -
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 191 of 360
Sector (Software) 34 of 85
Type (Consolidation) 3 of 6
State (Georgia) 5 of 7
Country (United States) 162 of 261
Year (2012) 6 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-11 Forgame Holdings

Shenzhen, China

Forgame Holdings is a developer and publisher of online, browser-based games. The company develops, distributes and markets games through company-owned portals and more than 100 third-party portals and platforms. Forgame Holdings was incorporated in 2009 and is based in Shenzhen, China.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-03 Aurora Networks

Santa Clara, California, United States

Aurora Networks is the only pure-play optical transport solution provider focused solely on cable network operators. The company’s broad array of optical network products and technology includes optical transmitters, node platforms and Ethernet equipment that deliver enhanced services and greater bandwidth to subscribers while reducing the cable operator’s total cost of ownership.

Sell $310M
Buyer

Golub Capital

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Lender
Founded 1994
PE ASSETS 55.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Golub Capital is a private investment firm focused on making debt and equity investments in US based middle-market companies. Golub looks to invest between $5 and $75 million in businesses with established operating cash flow, strong customer relationships, and 'sustainable proprietary positions in their markets'. Prospective investment structures include refinancings, recapitalizations, buyouts, and growth financings. Sectors of interest include consumer products, business and consumer services, defense, manufacturing, value-added distribution, media, healthcare services and restaurants. Golub Capital was formed in 1994 and maintains offices in New York City, Atlanta, and Chicago.


DEAL STATS #
Overall 23 of 67
Sector (Software) 2 of 5
Type (Consolidation) 2 of 3
State (Georgia) 2 of 4
Country (United States) 23 of 65
Year (2012) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-21 NAVEX

Lake Oswego, Oregon, United States

NAVEX is a provider of ethics and compliance software, content and services helps organizations protect their people, reputation and bottom line. NAVEX was founded in 2012 and is based in Lake Oswego, Oregon.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-08 Sage Dental Management

Boca Raton, Florida, United States

Sage Dental Management is a dental service organization providing comprehensive administrative support services and facilities. Sage Dental Management was founded in 1997 and is based in Boca Raton, Florida.

Buy -
Buyer

Charlesbank Capital Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1998
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Charlesbank Capital Partners is a private equity firm focused on investing in companies at various stages of development, including private and public companies, distressed situations, as well as later stage high growth businesses. Charlesbank typically invests $50 to $150 million per deal, in companies valued between $150 million and $3 billion. Industries of interest include consumer products, distribution, energy, financial services, food, education, health-care products and services, manufacturing, media and communications, and retail. Charlesbank Capital Partners is based in Boston, Massachusetts with an additional office in New York City.


DEAL STATS #
Overall 42 of 86
Sector (Software) 1 of 6
Type (Consolidation) 1 of 3
State (Georgia) 1 of 1
Country (United States) 37 of 76
Year (2012) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-27 The Princeton Review

Framingham, Massachusetts, United States

The Princeton Review is a proivder of test preparation and college admission services company. Every year it helps millions of college- and graduate school-bound students achieve their education and career goals through its test preparation, tutoring, and admissions services, its online resources, and its more than 150 print and digital books published by Random House LLC.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-20 Southcross Energy

Dallas, Texas, United States

Southcross Energy is a midstream natural gas company engaged in the gathering, processing and pipeline transportation of natural gas, with a total of more than 2,100 miles of pipeline assets. Southcross Energy is based in Dallas, Texas.

Sell -
Buyer
DESCRIPTION

Insight Partners is a growth capital investment firm focused on early to later stage investments principally in the software sector. Insight Partners was formed in 1995 and is based in New York, New York.


DEAL STATS #
Overall 10 of 86
Sector (Software) 4 of 34
Type (Consolidation) 1 of 3
State (Georgia) 1 of 4
Country (United States) 8 of 69
Year (2012) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-08 Zumba Fitness

Hallandale Beach, Florida, United States

Zumba Fitness provides Latin-inspired dance-fitness programs worldwide. Zumba offers fitness programs for kids, adults, and older adults. The company also provides instructor training programs for fitness and dance instructors to learn how to teach Zumba classes. Zumba Fitness was founded in 2001 and is based in Hallandale Beach, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-17 Gainsight

San Francisco, California, United States

Gainsight provides a platform that helps companies of all sizes and industries drive durable growth through customer-led and product-led strategies. The Company offers a powerful set of customer success, product experience, and community engagement solutions that together enable businesses to scale efficiently, create alignment, and put the customer at the heart of innovation. Gainsight was formed in 2009 and is based in San Francisco, California.

Buy -