M&A Deal Summary

ABRY Partners Acquires CloudWave

On February 1, 2021, private equity firm ABRY Partners acquired information technology company CloudWave from WestView Capital Partners

Acquisition Highlights
  • This is ABRY Partners’ 31st transaction in the Information Technology sector.
  • This is ABRY Partners’ 128th transaction in the United States.
  • This is ABRY Partners’ 8th transaction in Massachusetts.

M&A Deal Summary

Date 2021-02-01
Target CloudWave
Sector Information Technology
Buyer(s) ABRY Partners
Sellers(s) WestView Capital Partners
Deal Type Secondary Buyout
Advisor(s) Covington Associates (Financial)
Goulston & Storrs (Legal)

Target

CloudWave

Marlborough, Massachusetts, United States
CloudWave is a full-service cloud services provider, technical consultancy, and technology solutions integrator for MEDITECH. CloudWave’s cloud services offerings include OpSus|Live, fully-managed MEDITECH hosting services, and OpSus|Recover, disaster recovery services for MEDITECH and enterprise applications. CloudWave was founded in 1991 and is based in Chagrin Falls, Ohio.

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Buyer(S) 1

Buyer

ABRY Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 12.8B USD
Size Mega
Type Sector Focused
DESCRIPTION

ABRY Partners is a media and communications focused private equity investment firm. Specific areas of interest include television, publishing, convention/trade shows, for-profit training, couponing, monitoring services, telephone companies, communications towers, music libraries, database providers, wireless communications, and in-store advertisers. ABRY can provide both equity and mezzanine capital, typically committing $20 to $200 million of equity or $15 to $50 million of mezzanine capital per transaction. Prospective transaction situations include buyouts, expansion financings, platform acquisitions, consolidations, and recapitalizations. ABRY Partners was formed in 1989 and is headquartered in Boston, Massachusetts.


DEAL STATS #
Overall 147 of 175
Sector: Information Technology M&A 31 of 38
Type: Secondary Buyout M&A Deals 35 of 42
State: Massachusetts M&A 8 of 8
Country: United States M&A 128 of 145
Year: 2021 M&A 3 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-22 Identity Digital

Bellevue, Washington, United States

Identity Digital is a domain name registry offering new domain names in multiple languages and character sets. Identity Digital simplifies and connects a fragmented online world with domain names and related technologies that allow people and businesses to build, market, and own their digital identities. Identity Digital was founded in 2010 and is based in Bellevue, Washington.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-23 Kingland

Clear Lake, Iowa, United States

Kingland is a provider of enterprise-class software solutions using its Kingland Platform and teams of data and technology experts. Stock exchanges, financial institutions, public accounting firms, and other Fortune 500 companies use the Kingland Platform for data management, risk management, and regulatory compliance. Kingland has helped data-intensive, highly-regulated clients discover new ways to securely grow their business and protect their reputation. Kingland was founded in 1992 and is based in Clear Lake, Iowa.

Buy -

Seller(S) 1

SELLER

WestView Capital Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 2.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

WestView Capital Partners is a private equity firm focused on investing in lower middle-market companies. WestView looks to commit between $20 and $100 million in a variety of recapitalization, growth financing, buyout and consolidation transactions. Prospective companies generally exhibit consistent growth and financial performance as well as sustainable competitive advantages and market position. Sectors of interest include business services, industrial and manufacturing, distribution and logistics, consumer products and retail, healthcare services, environmental services, and media/publishing. The Firm's geographic preference is North America. WestView Capital Partners was formed in 2004 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 28 of 35
Sector: Information Technology M&A 6 of 10
Type: Secondary Buyout M&A Deals 9 of 13
State: Massachusetts M&A 3 of 3
Country: United States M&A 28 of 35
Year: 2021 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-10 Northwest Plan Services

Seattle, Washington, United States

Northwest Plan Services, Inc. is an independent recordkeeper and administrator of retirement plans. The Company provides a comprehensive suite of services for 401(k), profit sharing, defined contribution plans, defined benefit pension plans, and other plan types. In addition to recordkeeping, administration, compliance and participant services, the Company provides consulting, employee communication and actuarial services to a client base ranging from small to medium-sized companies having 50 to 500 employees to large, S&P 500 clients with tens of thousands of employees. Northwest Plan Services was formed in 1994 and is based in Seattle, Washington.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-16 VC3

Columbia, South Carolina, United States

VC3 is a provider of managed IT hosting and support services primarily to the municipal government sector. The Company offers a full suite of managed IT solutions including private cloud hosting of industry specific applications, hosted desktops, hosted VoIP, fully managed networks and 24×7 help desk services. VC3 also develops website and web application solutions and software that enhance the automation and productivity of its clients business processes. VC3 was founded in 1994 and is based in Columbia, South Carolina.

Sell -