M&A Deal Summary

Silver Lake, GIC, Banneker Partners and ATP Private Equity Partners Acquire Ancestry

On April 1, 2016, private equity firm Silver Lake, sovereign wealth fund GIC, private equity firm Banneker Partners and private equity firm ATP Private Equity Partners acquired information services company Ancestry from Permira and Spectrum Equity for 2.6B USD

Acquisition Highlights
  • This is Silver Lake’s 5th, GIC’s 2nd, Banneker Partners’ 1st and ATP Private Equity Partners’ 1st transaction in the Information Services sector.
  • This is Silver Lake’s 16th, GIC’s 8th, Banneker Partners’ and ATP Private Equity Partners’ 7th largest (disclosed) transaction.
  • This is Silver Lake’s 57th, GIC’s 4th, Banneker Partners’ 7th and ATP Private Equity Partners’ 16th transaction in the United States.
  • This is Silver Lake’s 1st, GIC’s 1st, Banneker Partners’ 1st and ATP Private Equity Partners’ 1st transaction in Utah.
Investment Fate
  • Ancestry was sold to a consortium of financial buyers in 2020 for 4.7B USD.

M&A Deal Summary
Date 2016-04-01
Target Ancestry
Sector Information Services
Buyer(s) Silver Lake
GIC
Banneker Partners
ATP Private Equity Partners
Sellers(s) Permira
Spectrum Equity
Deal Type Secondary Buyout
Deal Value 2.6B USD

Target

Ancestry

Provo, Utah, United States
website
Ancestry.com's offices in Dublin, Ireland.
Ancestry.com's offices in Dublin, Ireland.
Ancestry.com is a provider of family history and consumer genomics information, and helps people gain a new level of understanding about their lives. The Company's suite of history products include Archives, Fold3, Newspapers.com, AncestryDNA, and AncestryHealth. Ancestry.com was formed in 1990 and is based in Provo, Utah.

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Buyer(S) 4

Buyer

Silver Lake

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1999
PE ASSETS 102.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Silver Lake is a mega-sized private equity firm focused on a broad range of growth investments in and acquisitions of technology companies. Silver Lake is subdivided into several investing groups including Silver Lake Partners, Silver Lake Sumeru, Silver Lake Waterman, Silver Lake Alpine, and Silver Lake Kraftwerk. Silver Lake Partners pursues large-scale private investments in companies within the technology, tech-enabled and related growth industries. Silver Lake Sumeru invests in middle market technology companies with established business models and attractive growth prospects where there is an opportunity to create value through operational transformation. Silver Lake Waterman provides growth capital to later-stage companies in the technology and technology-enabled industries, offering flexible solutions to finance expansion and acquisitions. Silver Lake Alpine is Silver Lake's debt and credit investing arm. Silver Lake Kraftwerk provides growth capital to technology and tech-enabled businesses driving efficiency across the operations, energy, and resources industries. Silver Lake Partners was formed in 1999 is headquartered in Menlo Park, California.

DEAL STATS #
Overall 77 of 126
Sector (Information Services) 5 of 6
Type (Secondary Buyout) 10 of 17
State (Utah) 1 of 3
Country (United States) 57 of 86
Year (2016) 3 of 5
Size (of disclosed) 16 of 29
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-22 BYJU S

Bengaluru, India

BYJU'S is an educational software company developing online learning solutions for K3, K10, K12, NEET, JEE, UPSC & Bank Exams. BYJU'S was established in 2008 and is headquartered in Bengaluru, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-18 Cegid

Lyon, France

Cegid is a software company that serves the needs of companies and organizations of all sizes in the areas of managing financial and tax, human resources and business solutions to the manufacturing, trade, services, retail, hotel and catering, accounting, TPE and public sectors. Cegid was formed in 1983 and is based in Lyon, France.

Buy -
Buyer

GIC

Investor Investor Investor Investor Investor

website

Category Sovereign Wealth Fund
Founded 1981
Size Mega
Type Sector Agnostic
DESCRIPTION

GIC Private Ltd. is the investment arm of Singapore. The Group primarily invests through three investment groups, including public markets, private equity and real estate. GIC's private equity practice looks to invest in funds as well as directly in companies. GIC is based in Singapore with additional offices globally.

DEAL STATS #
Overall 14 of 38
Sector (Information Services) 2 of 2
Type (Secondary Buyout) 4 of 13
State (Utah) 1 of 1
Country (United States) 4 of 13
Year (2016) 2 of 3
Size (of disclosed) 8 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-18 Quest Global Services

Singapore , Singapore

Quest Global Services is a global engineering solutions provider with a proven track record of serving the product development & production engineering needs of high technology companies. Quest Global Services was founded in 1997 and is based in Singapore.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-07 P3 Parks

Prague , Czech Republic

P3 Parks is a pan-European logistics real estate operating company active in managing, leasing, and developing logistics warehouses. P3’s mission is to provide warehouse customers with a first-rate occupancy experience in high-quality assets in key logistics locations. P3 Parks was founded in 2001 and is based in Prague, Czech Republic.

Buy €2.4B
Buyer

Banneker Partners

San Francisco, California, United States

Investor

website

Category Private Equity Firm
Founded 2010
Size Small
Type Sector Focused
DESCRIPTION

Banneker Partners is a West Coast based private equity firm focused on investing in software/SaaS, internet, and business services companies. Banneker looks to partner with management when making acquisitions. Firm principals have experience investing in high growth as well as mature/legacy businesses. Banneker Partners was formed in 2010 and is based in San Francisco.

DEAL STATS #
Overall 7 of 12
Sector (Information Services) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Utah) 1 of 1
Country (United States) 7 of 10
Year (2016) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-01 SMRT Systems

San Francisco, California, United States

SMRT Systems, Inc. is a provider of cloud based enterprise software solution company.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-21 Magento

Campbell, California, United States

Magento, Inc. is a provider of cloud commerce innovation to merchants and brands across B2C and B2B industries. Magento, Inc. was founded in 1985 and is based in Campbell, California.

Sell $1.7B
Buyer

ATP Private Equity Partners

website

Category Private Equity Firm
Founded 2001
PE ASSETS 10.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

ATP Private Equity Partners is a Danish institutional investment firm focused on investing in private equity funds across Europe, North America, and select emerging markets. The Firm is supported by ATP, Denmark's largest pension fund. In addition to investing in private equity funds, ATP also looks to for co-investment situations. ATP Private Equity Partners was formed in 2001 and is headquartered in Copenhagen, Denmark.

DEAL STATS #
Overall 33 of 43
Sector (Information Services) 1 of 1
Type (Secondary Buyout) 14 of 17
State (Utah) 1 of 1
Country (United States) 16 of 19
Year (2016) 3 of 5
Size (of disclosed) 7 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-08 Clario

Philadelphia, Pennsylvania, United States

Clario offers a compelling combination of technology, services, and clinical expertise, helping customers to deliver successful clinical trial outcomes by ensuring high-quality data capture, reduced costs, and shortened study timelines. Clario was founded in 1972 and is based in Philadelphia, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-13 Artsana Group

Como, Italy

Artsana Group operates as the global leader in branded baby care (through Chicco and complementary brands) as well as the largest European toys and babycare retailer (through Prenatal Retail Group’s brands). Artsana Group was founded in 1946 and is based in Como, Italy.

Buy -

Seller(S) 2

SELLER

Permira

London, United Kingdom

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1985
PE ASSETS 75.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Permira is a mega-sized private equity firm that targets large company investments around the world. Permira invests to support acquisitions, leveraged buyouts, take-privates, turnarounds, and growth buyouts. Areas of interest include healthcare, financial services, chemicals, consumer products and services, industrial products and services, technology, media, and telecom. Permira will consider opportunities in Europe, Asia, and North America. Permira was formed in 1985 and has offices in Menlo Park, Frankfurt, Luxembourg, London, Hong Kong, Madrid, Milan, Paris, Stockholm, Tokyo, Guernsey and New York City.

DEAL STATS #
Overall 57 of 88
Sector (Information Services) 1 of 1
Type (Secondary Buyout) 16 of 28
State (Utah) 1 of 1
Country (United States) 5 of 19
Year (2016) 3 of 6
Size (of disclosed) 9 of 37
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-01 Telepizza

Madrid, Spain

Telepizza operates and manages stores, restaurants, and franchises that deliver pizzas. Telepizza also provides home delivery services. Telepizza was founded in 1987 and is based in Madrid, Spain.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-14 Arcaplanet

Genoa, Italy

Arcaplanet is an operator of a pet care retail chain. Arcaplanet operates 46 stores, each averaging 500 square meters in size and being mainly located in the north and center of Italy. Arcaplanet was founded in 1995 and is based in Genoa, Italy.

Buy -
SELLER

Spectrum Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1994
PE ASSETS 4.7B USD
Size Large
Type Sector Focused
DESCRIPTION

Spectrum Equity Management L.P. is a private equity investor focused on service businesses. Spectrum specifically targets established businesses in the media, communications, IT, information, and business services industries. The Firm looks to commit $25 to $100 million of equity capital per transaction and focuses on opportunities throughout North America and Western Europe. Prospective transaction situations include leveraged buyouts, recapitalizations, acquisition financings, and secondary purchases. Spectrum Equity Investors was formed in 1994 and has offices in Boston, Massachusetts and Menlo Park, California.

DEAL STATS #
Overall 42 of 70
Sector (Information Services) 3 of 6
Type (Secondary Buyout) 2 of 7
State (Utah) 3 of 3
Country (United States) 37 of 63
Year (2016) 2 of 6
Size (of disclosed) 4 of 27
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-15 Jagex

Cambridge, United Kingdom

Jagex is a video game developer and publisher focused on creating a deep and engaging living game on PC and mobile. Its flagship RuneScape and Old School RuneScape, on PC and mobile, offer ever-evolving, highly active worlds, and community-focused development ethos empowers players to have a real say in how each game is shaped. Jagex was founded in 2000 and is based in Cambridge, United Kingdom.

Sell $300M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-13 MedHOK

Tampa, Florida, United States

MedHOK, Inc. is a provider of software-as-a-service (SaaS) solutions for health plans offered by insurance companies, health systems and companies that administer drug benefits.

Sell -
Mergr

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Company

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