M&A Deal Summary

Apax and JMI Equity Acquire Paradigm

On August 29, 2012, private equity firms Apax and JMI Equity acquired software company Paradigm from Fox Paine for 1.0B USD

Acquisition Highlights
  • This is Apax’s 13th and JMI Equity’s 33rd transaction in the Software sector.
  • This is Apax’s 24th and JMI Equity’s 6th largest (disclosed) transaction.
  • This is Apax’s 52nd and JMI Equity’s 61st transaction in the United States.
  • This is Apax’s 6th and JMI Equity’s 5th transaction in Texas.
Investment Fate
  • Paradigm was sold to a publicly-traded strategic buyer in 2017 for 510M USD.

M&A Deal Summary
Date 2012-08-29
Target Paradigm
Sector Software
Buyer(s) Apax
JMI Equity
Sellers(s) Fox Paine
Deal Type Secondary Buyout
Deal Value 1.0B USD
Advisor(s) Jefferies (Financial)
Skadden, Arps, Slate, Meagher & Flom (Legal)

Target

Paradigm

Houston, Texas, United States
website
Paradigm's corporate headquarters in Houston, Texas.
Paradigm's corporate headquarters in Houston, Texas.
Paradigm Ltd. is an independent developer of software enabled solutions to the global oil and gas industry. Paradigm technologies and workflows enable its customers to create value from data, understand complex geology, drill in optimal locations, assess risks impacting safety and the environment, and maximize asset value. Paradigm was formed in 1987 and is based in Houston, Texas.

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Buyer(S) 2

Buyer

Apax

London, United Kingdom

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1981
PE ASSETS 60.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apax Partners is a mega-sized private equity investment group, operating across the United States, Europe, Israel and Asia. Broad industry sectors of interest include tech & telecom, media, retail & consumer, healthcare, financial services, and business services. Apax will consider both minority and majority investment positions and prefers companies with strong market positions and growth potential. The Firm generally pursues platform acquisitions valued from €1 to €5 billion. Apax Partners was formed in 1981 and is based in London.

DEAL STATS #
Overall 142 of 246
Sector (Software) 13 of 23
Type (Secondary Buyout) 21 of 61
State (Texas) 6 of 10
Country (United States) 52 of 95
Year (2012) 2 of 5
Size (of disclosed) 24 of 53
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-19 Ollie s Bargain

Harrisburg, Pennsylvania, United States

Ollie's Bargain operates of a chain of retail stores that offers deeply discounted and closeout brand-name merchandise across a broad selection of product categories, including books, carpet, domestics and housewares. Ollie's Bargain Outlet was founded in 1982 and is based in Harrisburg, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-07 Garda World Security

Montreal, Quebec, Canada

Garda World Security Corp. is a privately owned security services providers, offering a range of highly focused business solutions including cash services, protective services, and aviation services. GardaWorld works across a broad range of sectors, including natural resources and critical infrastructures, retail, construction, telecommunications, and manufacturing, and on behalf of Fortune 500 companies, governments, NGOs, and humanitarian relief organizations. Garda World was formed in 1995 and is based in Montreal, Quebec.

Buy CA$1.1B
Buyer

JMI Equity

La Jolla, California, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1992
PE ASSETS 7.5B USD
Size Mega
Type Sector Focused
DESCRIPTION

JMI Equity is a private equity firm focused on investments in software, internet, business service, and healthcare IT. Targeted businesses typically help automate and optimize business and information technology processes. The Firm will consider investments at all stages of development, including early-stage companies, self-funded businesses requiring growth capital, and later stage businesses in need of buyout or recapitalization funding. JMI looks to commit at least $10 million per transaction. JMI Equity was formed in 1992 and maintains offices in San Diego and Baltimore.

DEAL STATS #
Overall 68 of 125
Sector (Software) 33 of 57
Type (Secondary Buyout) 3 of 8
State (Texas) 5 of 9
Country (United States) 61 of 109
Year (2012) 4 of 5
Size (of disclosed) 6 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-01 Eloqua

Vienna, Virginia, United States

Eloqua, Inc. is a provider of cloud-based marketing automation and revenue performance management software.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-17 BigMachines

Deerfield, Illinois, United States

BigMachines, Inc. is a provider of Software as a Service (SaaS) solutions that help companies automate and streamline complex sales processes.

Buy -

Seller(S) 1

SELLER

Fox Paine

Investor

website

Category Private Equity Firm
Founded 1996
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Fox Paine is a private equity firm that specializes in providing solutions and capital for management buyouts, public-to-private transactions and growth capital initiatives. Fox Paine invests in a broad array of industries, including technology, telecommunications, medical instruments, healthcare, semiconductors, energy, power generation, insurance, reinsurance, software, agricultural and consumer products. Fox Paine was established in 1996 and is based in Woodside, California.

DEAL STATS #
Overall 2 of 2
Sector (Software) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Texas) 1 of 1
Country (United States) 2 of 2
Year (2012) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-07-01 ACMI

Southborough, Massachusetts, United States

ACMI Corp. is a develops, manufactures and sells diagnostic and therapeutic endoscopic instrumentation products and systems focused in the areas of urology, gynecology, general surgery, and other select clinical specialties.

Sell $500M
Mergr

Product

Company

Legal