ABRY Partners Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, ABRY Partners has acquired 17 companies. It has also invested in 14 others.

ABRY Partners’ most common sectors for investment areinformation technology (21%) and business services (13%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (28%) and secondary buyout (25%). In total, ABRY Partners has invested in 28 US states and 8 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 17 companies. The Firm’s most common exit type is trade sale (53%). 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 Activity245
    • M&A Buy Activity154
    • M&A Sell Activity91
  • Total Sectors Invested 22
  • Total Countries Invested 8
  • M&A Buy/Sell Connections 103
  • M&A Advisors 17

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 headquartered 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 ≤ '17 '18 '19 '20 '21 '22 T
Buy (7.4/yr) # 117 6 10 7 12 2 154
vol $5.8B $402M $6.2B
Sell (3.8/yr) # 73 2 4 3 9 1 92
vol $24.9B $394M $5.7B $31.0B
  246

Most Recent M&A

Company Date Value Type
Benefit Recovery Group 2022-08-03 - Secondary Buyout
Memphis, Tennessee · www.brgsubro.com
Community Counselling Service Co. LLC 2022-05-20 - Growth Capital
New York, New York · www.ccsfundraising.com
Inoapps Ltd. 2022-04-13 - Secondary Buyout
Aberdeen, United Kingdom · www.inoapps.com
Edgile, Inc. 2021-12-20 - Add-on Acquisition
Austin, Texas · www.edgile.com
Best Lawyers LLC 2021-12-01 - Secondary Buyout
Augusta, Georgia · www.bestlawyers.com
Smart Start LLC 2021-11-08 - Secondary Buyout
Grapevine, Texas · www.smartstartinc.com
Aker Systems Ltd. 2021-09-27 - Secondary Buyout
Bicester, United Kingdom · www.akersystems.com
Innovisk Capital Partners LLP 2021-09-09 - Divestiture
London , United Kingdom · www.innovisk.com
Lighthouse Autism Centers LLC 2021-07-26 - Stake Purchase
Mishawaka, Indiana · www.lighthouseautismcenter.com
Socius Insurance Services, Inc. 2021-07-01 - Growth Capital
San Francisco, California · www.sociusinsurance.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Urgent Care Holdings of America, LLC 2015-05-21 MedPost Urgent Care - Clinics 2022-04-19 1
Gilbert, Arizona · www.fastmed.com Gilbert, Arizona
Millennium Trust Co. 2019-01-04 PayFlex Systems USA, Inc. 2022-04-05 2
Oak Brook, Illinois · www.mtrustcompany.com Omaha, Nebraska · www.payflex.com
illumifin 2021-05-17 Long Term Care Group, Inc. 2022-02-24 1
Fremont, California · www.illumifin.com Eden Prairie, Minnesota · www.ltcg.com
High Street Insurance Partners LLC 2021-04-16 Insurance Services Group, Inc. 2022-01-21 12
Traverse City, Michigan · www.hsip.com Edmonds, Washington · www.insuranceservicesgroup.com
Urgent Care Holdings of America, LLC 2015-05-21 Tenet’s Urgent Care Platform 2020-12-18 3
Gilbert, Arizona · www.fastmed.com Dallas, Texas
Franklin Energy Services LLC 2019-07-31 Build It Green - Utility Business 2019-10-01 2
Port Washington, Wisconsin · www.franklinenergy.com Oakland, California
Direct Travel, Inc. 2015-12-02 Strategic Meetings + Incentives 2019-09-18 7
Mahwah, New Jersey · www.dt.com Toronto, Ontario · www.strategicmi.ca
Nexus Technologies, Inc. 2017-12-13 Cal Net Technology Group, Inc. 2018-08-07 4
Greenwood Village, Colorado · www.nexustek.com Chatsworth, California · www.calnettech.com
Nexus Technologies, Inc. 2017-12-13 Zumasys, Inc. - Cloud Hosting, Infrastructure & Managed Services 2018-07-10 3
Greenwood Village, Colorado · www.nexustek.com Irvine, California
Writtle Holdings Ltd. 2007-01-01 Creo Retail Marketing Ltd. 2016-06-23 1
London, United Kingdom · www.writtle.com London, United Kingdom · www.creo-uk.com

M&A by Sector

Sector Current # Value All-time # Value
Information Technology 10 (20%) - 31 (20%) 1.2B (20%)
Business Services 8 (16%) - 19 (12%) 215M (3%)
Communications 1 (2%) 402M (100%) 16 (10%) 3.8B (61%)
Software 6 (12%) - 13 (8%) -
Media 1 (2%) - 12 (8%) 650M (10%)
Internet Software and Services 4 (8%) - 12 (8%) -
Insurance 5 (10%) - 11 (7%) -
Healthcare Services 3 (6%) - 8 (5%) -
Information Services - - 5 (3%) 222M (4%)
Education - - 4 (3%) -
Marketing 3 (6%) - 4 (3%) -
Publishing - - 4 (3%) -
Technology Hardware 1 (2%) - 3 (2%) 100M (2%)
Consumer Services 1 (2%) - 2 (1%) -
Digital Media 2 (4%) - 2 (1%) -
Financial Services 2 (4%) - 2 (1%) -
Aerospace - - 1 (1%) -
Environmental 1 (2%) - 1 (1%) -
Safety/Security - - 1 (1%) -
Test/Measurement Equipment - - 1 (1%) -
Transportation 1 (2%) - 1 (1%) -
Utilities 1 (2%) - 1 (1%) -
Total 50 $402M 154 $6.2B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 40 (80%) - 131 (85%) 5.5B (88%)
  California 5 (10%) - 20 (13%) -
  Texas 3 (6%) - 17 (11%) 410M (7%)
  New Jersey 4 (8%) - 11 (7%) 1.2B (19%)
  Massachusetts 4 (8%) - 9 (6%) 2.0B (32%)
  Florida 3 (6%) - 9 (6%) -
  New York 3 (6%) - 8 (5%) 530M (9%)
  Arizona 4 (8%) - 7 (5%) -
  Colorado 3 (6%) - 6 (4%) -
  Georgia 1 (2%) - 6 (4%) -
  Illinois 2 (4%) - 4 (3%) 100M (2%)
  Virginia - - 4 (3%) 215M (3%)
  Michigan 2 (4%) - 3 (2%) 222M (4%)
  Washington 2 (4%) - 3 (2%) -
  Minnesota 1 (2%) - 3 (2%) -
  North Carolina - - 3 (2%) 140M (2%)
  Pennsylvania - - 3 (2%) -
  Indiana 1 (2%) - 2 (1%) -
  Wisconsin 1 (2%) - 2 (1%) -
  Tennessee - - 2 (1%) -
  Iowa 1 (2%) - 1 (1%) -
  District of Columbia - - 1 (1%) 650M (10%)
  South Carolina - - 1 (1%) -
  Ohio - - 1 (1%) -
  Nevada - - 1 (1%) -
  Missouri - - 1 (1%) -
  Kentucky - - 1 (1%) -
  Connecticut - - 1 (1%) -
  Alabama - - 1 (1%) -
United Kingdom 7 (14%) - 11 (7%) -
Canada 1 (2%) - 5 (3%) 361M (6%)
  Ontario - - 3 (2%) 361M (6%)
  Quebec 1 (2%) - 2 (1%) -
Norway 1 (2%) 402M (100%) 2 (1%) 402M (6%)
Sweden 1 (2%) - 2 (1%) -
Germany - - 1 (1%) -
Bermuda - - 1 (1%) -
Puerto Rico - - 1 (1%) -
Domestic 40 (80%) - 131 (85%) 5.5B (88%)
Cross-border 10 (20%) 402M (100%) 23 (15%) 763M (12%)
Total 50 $402M 154 $6.2B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 4 (8%) - 43 (28%) 362M (6%)
Secondary Buyout 13 (26%) - 37 (24%) 1.2B (19%)
Growth Capital 18 (36%) - 34 (22%) -
Recapitalization 7 (14%) - 14 (9%) 2.2B (35%)
Stake Purchase 1 (2%) - 8 (5%) -
Going Private 1 (2%) 402M (100%) 4 (3%) 2.0B (32%)
Consolidation 2 (4%) - 4 (3%) 530M (9%)
Divestiture 2 (4%) - 3 (2%) -
Venture - - 3 (2%) -
Acquisition Financing 1 (2%) - 2 (1%) -
Joint Venture - - 1 (1%) -
PIPE 1 (2%) - 1 (1%) -
Total 50 $402M 154 $6.2B

Exits by Deal Type

Type Total # Value
Secondary Sale 30 (33%) 4.6B (15%)
Trade Sale - Public Company 27 (29%) 21.1B (70%)
Trade Sale 21 (23%) 2.3B (8%)
Recapitalization 3 (3%) -
Merger 2 (2%) 2.0B (7%)
Bankruptcy 2 (2%) -
IPO 2 (2%) -
Stake Sale 2 (2%) -
Unknown 2 (2%) -
SPAC 1 (1%) -
Total 92 $29.9B

Top M&A Advisors

Financial Deals
SunTrust Robinson Humphrey, Inc.
 2
Credit Suisse Investment Banking
 2
Sica Fletcher LLC
 2
Legal Deals
Kirkland & Ellis LLP
 26
Latham & Watkins
 2
DLA Piper
 2

Deal Values

buy # Total
> $1B 2 $3.2B
$100M to $1B 9 $2.9B
< $100M 1 $100M
TOTAL $6.2B
Largest Lightower Fiber Networks LLC
$2.0B (2013-04-11)
sell # Total
> $1B 9 $23.3B
$100M to $1B 18 $7.7B
< $100M 1 $23M
TOTAL $31.0B
Largest Lightower Fiber Networks LLC
$7.1B (2017-07-18)

M&A Connections

Deals
Acquired from
Investor(s)
27%
42 (27%)
Strategic(s)
2%
3 (2%)
Exited to
Investor(s)
34%
31 (34%)
Strategic(s)
53%
49 (53%)

Investor Summary

Investor Type

Private Equity Firm

Size

Mega

PE Assets

12.8B USD

Established

1989

Specialist/Generalist

Specialist

Leadership

Peggy Koenig

Chair

Royce Yudkoff

Co- Founder

Andrew Banks

Co-Founder

John Hunt

Managing Partner

C. J. Brucato

Managing Partner & Co-CEO

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