ABRY Partners Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, ABRY Partners has acquired 4 companies. It has also invested in 5 others.

ABRY Partners’ most common sectors for investment are information technology (18%) and communications (12%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (35%) and secondary buyout (25%). In total, ABRY Partners has invested in 30 US states and 7 different countries. Its largest (disclosed) acquisition occurred in 2013 when it acquired Lightower Fiber Networks for $2.0B.

In the last 3 years, ABRY Partners has exited 14 companies. The Firm’s most common exit type is trade sale (52%). ABRY Partners’ largest (disclosed) exit occurred in 2017 when it sold Lightower Fiber Networks for $7.1B.

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M&A Summary

  • M&A Total Activity195
    • M&A Buy Activity121
    • M&A Sell Activity74
  • Total Sectors Invested 20
  • Total Countries Invested 7
  • M&A Buy/Sell Connections 84
  • M&A Advisors 15

ABRY Partners

888 Boylston, Ste. 1600,
Boston, Massachusetts 02199
United States,
(617) 859-2959
www.abry.com
information@abry.com

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 located in Boston, Massachusetts.


Investment Criteria

Sectors of Interest: Business Services, Communications, Consumer Products, Digital Media, Education, Financial Services, Healthcare Services, Information Technology, Insurance, Internet Software and Services, Leisure, Media, Medical Products, Publishing, Safety/Security, Software, Staffing

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Growth Capital, Recapitalization, PIPE

Geographic Preferences: East US, Midwest US, South US, West US, Canada

Transaction Criteria Min Max
Target Revenue 50 -
Target EBITDA - -
Investment Size 20 200
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (4.8/yr) # 97 8 4 5 7 - 121
vol $4.6B $4.6B
Sell (4.4/yr) # 52 8 8 2 4 - 74
vol $13.3B $4.3B $7.2B $394M $25.3B
  195

Most Recent M&A

Company Date Value Type
The Hilb Group LLC 2019-10-30 - Secondary Buyout
Richmond, Vermont · www.hilbgroup.com
AddSecure AB 2019-09-26 - Secondary Buyout
Stockholm, Sweden · www.addsecure.com
Portfolio General Management Group, Inc. 2019-08-19 - Secondary Buyout
Lake Forest, California · www.portfolioreinsurance.com
North American Dental Group 2019-08-16 - Secondary Buyout
New Castle, Pennsylvania · www.nadentalgroup.com
Franklin Energy Services LLC 2019-07-31 - Secondary Buyout
Port Washington, Wisconsin · www.franklinenergy.com
Root Data Center, Inc. 2019-07-23 - Add-on Acquisition
Montreal, Quebec · www.rootdatacenter.com
Confirma Software 2019-06-10 - Buyout (LBO, MBO, MBI)
Boston, Massachusetts · www.confirmasoftware.com
Aftermath Services 2019-04-26 - Secondary Buyout
Aurora, Illinois · www.aftermath.com
Dr. Dental Management LLC (Dr. Dental) 2019-03-12 - Growth Capital
Framingham, Massachusetts · www.mydrdental.com
Aduro 2019-01-16 - Growth Capital
Redmond, Washington · www.adurolife.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Direct Travel, Inc. (Directravel) 2015-12-02 Professional Travel 2020-01-14 7
Mahwah, New Jersey · www.dt.com Cleveland, Ohio · www.protrav.com
KORE Wireless Group, Inc. 2014-11-11 Integron 2019-12-10 4
Alpharetta, Georgia · www.koretelematics.com Rochester, New York · www.integron.com
Millennium Trust Co. 2019-01-04 Liberty Trust Co. 2019-12-03 1
Oak Brook, Illinois · www.mtrustcompany.com Dallas, Texas · www.libertytrustco.com
Franklin Energy Services LLC 2019-07-31 Build It Green - Utility Business 2019-10-01 1
Port Washington, Wisconsin · www.franklinenergy.com Oakland, California
Direct Travel, Inc. (Directravel) 2015-12-02 Meridican Travel, Inc. 2019-09-18 6
Mahwah, New Jersey · www.dt.com Markham, Ontario · www.meridican.com
Direct Travel, Inc. (Directravel) 2015-12-02 Strategic Meetings + Incentives 2019-09-18 5
Mahwah, New Jersey · www.dt.com Toronto, Ontario · www.strategicmi.ca
Confie Seguros, Inc. 2012-11-09 Wescom Insurance Services LLC - Non-Credit Union Member Insurance Services 2019-08-01 79
New York, New York · www.confie.com Anaheim, California
Confie Seguros, Inc. 2012-11-09 Southern Harvest Insurance 2019-07-10 78
New York, New York · www.confie.com Cordele, Georgia
Confirma Software 2019-06-10 Computer Program Unit Oy 2019-06-10 3
Boston, Massachusetts · www.confirmasoftware.com North Karelia, Finland · www.cpu.fi
Confirma Software 2019-06-10 DL Software Oy 2019-06-10 2
Boston, Massachusetts · www.confirmasoftware.com Vaasa, Finland · www.dlsoftware.com

M&A by Sector

Sector Current # Value All-time # Value
Information Technology 7 (15%) - 22 (18%) 1.0B (22%)
Communications 3 (7%) - 14 (12%) 2.2B (48%)
Media 2 (4%) - 12 (10%) 650M (14%)
Business Services 5 (11%) - 12 (10%) 215M (5%)
Internet Software and Services 6 (13%) - 11 (9%) 210M (5%)
Healthcare Services 6 (13%) - 9 (7%) -
Software 3 (7%) - 9 (7%) -
Insurance 2 (4%) - 7 (6%) -
Information Services 2 (4%) 222M (69%) 6 (5%) 222M (5%)
Publishing - - 5 (4%) -
Education 4 (9%) - 4 (3%) -
Technology Hardware 1 (2%) 100M (31%) 2 (2%) 100M (2%)
Aerospace - - 1 (1%) -
Consumer Services - - 1 (1%) -
Digital Media 1 (2%) - 1 (1%) -
Environmental 1 (2%) - 1 (1%) -
Leisure 1 (2%) - 1 (1%) -
Safety/Security - - 1 (1%) -
Staffing 1 (2%) - 1 (1%) -
Utilities 1 (2%) - 1 (1%) -
Total 46 $322M 121 $4.6B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 45 (94%) 322M (100%) 110 (89%) 4.3B (92%)
  Texas 6 (13%) - 15 (12%) 410M (9%)
  California 7 (15%) - 14 (11%) -
  Florida 5 (10%) - 9 (7%) -
  New York 4 (8%) - 9 (7%) 530M (11%)
  New Jersey 2 (4%) - 8 (7%) -
  Massachusetts 2 (4%) - 7 (6%) 2.0B (43%)
  Colorado 3 (6%) - 5 (4%) -
  Georgia 2 (4%) - 5 (4%) -
  Illinois 3 (6%) 100M (31%) 4 (3%) 100M (2%)
  Arizona 2 (4%) - 4 (3%) -
  North Carolina - - 3 (2%) 140M (3%)
  Pennsylvania - - 3 (2%) -
  Michigan 2 (4%) 222M (69%) 2 (2%) 222M (5%)
  Washington 2 (4%) - 2 (2%) -
  Virginia 1 (2%) - 2 (2%) 215M (5%)
  Wisconsin 1 (2%) - 2 (2%) -
  Ohio 1 (2%) - 2 (2%) -
  Minnesota - - 2 (2%) -
  Tennessee 1 (2%) - 1 (1%) -
  New Mexico 1 (2%) - 1 (1%) -
  District of Columbia - - 1 (1%) 650M (14%)
  Vermont - - 1 (1%) -
  South Carolina - - 1 (1%) -
  Nevada - - 1 (1%) -
  Missouri - - 1 (1%) -
  Kentucky - - 1 (1%) -
  Indiana - - 1 (1%) -
  Connecticut - - 1 (1%) -
  Alabama - - 1 (1%) -
Canada - - 4 (3%) 361M (8%)
  Ontario - - 3 (2%) 361M (8%)
  Quebec - - 1 (1%) -
United Kingdom - - 4 (3%) -
Germany 2 (4%) - 2 (2%) -
Puerto Rico 1 (2%) - 1 (1%) -
Norway - - 1 (1%) -
Sweden - - 1 (1%) -
Domestic 45 (94%) 322M (100%) 110 (89%) 4.3B (92%)
Cross-border 3 (6%) - 13 (11%) 361M (8%)
Total 48 $322M 123 $4.6B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 11 (23%) 222M (69%) 42 (34%) 362M (8%)
Secondary Buyout 13 (27%) 100M (31%) 30 (24%) 1.2B (25%)
Growth Capital 17 (35%) - 24 (20%) -
Recapitalization 5 (10%) - 9 (7%) 2.2B (48%)
Stake Purchase - - 7 (6%) -
Going Private - - 3 (2%) 361M (8%)
Venture - - 3 (2%) -
Acquisition Financing 1 (2%) - 2 (2%) -
Consolidation - - 1 (1%) 530M (11%)
Divestiture - - 1 (1%) -
Joint Venture 1 (2%) - 1 (1%) -
Total 48 $322M 123 $4.6B

Exits by Deal Type

Type Total # Value
Secondary Sale 25 (34%) 4.6B (19%)
Trade Sale - Public Company 22 (30%) 15.4B (63%)
Trade Sale 16 (22%) 2.3B (9%)
Recapitalization 3 (4%) -
Merger 2 (3%) 2.0B (8%)
Bankruptcy 2 (3%) -
IPO 2 (3%) -
Stake Sale 1 (1%) -
Unknown 1 (1%) -
Total 74 $24.2B

Top M&A Advisors

Financial Deals
SunTrust Robinson Humphrey, Inc.
 2
Credit Suisse Investment Banking
 2
Sica Fletcher LLC
 1
Legal Deals
Kirkland & Ellis LLP
 18
Latham & Watkins
 2
PwC Law LLP
 2

Deal Values

buy # Total
> $1B 1 $2.0B
$100M to $1B 8 $2.5B
< $100M 1 $100M
TOTAL $4.6B
Largest Lightower Fiber Networks LLC
$2.0B (2013-04-11)
sell # Total
> $1B 8 $18.0B
$100M to $1B 17 $7.3B
< $100M 1 $23M
TOTAL $25.3B
Largest Lightower Fiber Networks LLC
$7.1B (2017-07-18)

M&A Connections

Deals %
Acquired from
PE Firm(s)
98%
47 98%
Strategic(s)
2%
1 2%
Exited to
PE Firm(s)
52%
42 52%
Strategic(s)
48%
39 48%

Investor Summary

Size

Mega

PE Assets

12.0B USD

Established

1989

Specialist/Generalist

Specialist

Leadership

Andrew Banks

Co- Founder

Royce Yudkoff

Co- Founder

Peggy Koenig

Managing Partner & Co-CEO

John Hunt

Managing Partner

Erik Brooks

Managing Partner

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