M&A Deal Summary

Charlesbank Capital Partners, Golub Capital, TA Associates and Vista Equity Partners Acquires Aptean

On August 7, 2012, private equity firm Charlesbank Capital Partners, lender Golub Capital, private equity firm TA Associates and private equity firm Vista Equity Partners acquired software company Aptean, Inc.

Acquisition Highlights
  • This is Charlesbank Capital Partners’ 1st, Golub Capital’s 1st, TA Associates’ 34th and Vista Equity Partners’ 13th transaction in the Software sector.
  • This is Charlesbank Capital Partners’ 37th, Golub Capital’s 23rd, TA Associates’ 163rd and Vista Equity Partners’ 25th transaction in the United States.
  • This is Charlesbank Capital Partners’ 1st, Golub Capital’s 2nd, TA Associates’ 5th and Vista Equity Partners’ 4th transaction in Georgia.

M&A Deal Summary

Date 2012-08-07
Target Aptean, Inc.
Sector Software
Buyer(s) Charlesbank Capital Partners
Golub Capital
TA Associates
Vista Equity Partners
Deal Type Consolidation

Target

Aptean, Inc.

Atlanta, Georgia, United States
website
Aptean's headquarters in Atlanta, Georgia.
Aptean's headquarters in Atlanta, Georgia.
Aptean is a provider of industry-specific software solutions that help businesses manage their resources, supply chains, employees, and customer relationships. Aptean provides very specific industries with very specific ERP, supply chain management and customer experience solutions. In today’s fast-paced, highly competitive economy, organizations don’t have time to waste forcing homegrown software, spreadsheets and one-size-fits-all solutions to do things they were never designed to do.

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Buyer(S) 4

Buyer

Charlesbank Capital Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1998
PE ASSETS 6.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Charlesbank Capital Partners is a private equity firm focused on investing in companies at various stages of development, including private and public companies, distressed situations, as well as later stage high growth businesses. Charlesbank typically invests $50 to $150 million per deal, in companies valued between $150 million and $1.5 billion. Industries of interest include consumer products, distribution, energy, financial services, food, education, health-care products and services, manufacturing, media and communications, and retail. Charlesbank Capital Partners is based in Boston, Massachusetts with an additional office in New York City.


DEAL STATS #
Overall 42 of 73
Sector (Software) 1 of 2
Type (Consolidation) 1 of 2
State (Georgia) 1 of 1
Country (United States) 37 of 66
Year (2012) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-27 The Princeton Review

Framingham, Massachusetts, United States

The Princeton Review is a proivder of test preparation and college admission services company. Every year it helps millions of college- and graduate school-bound students achieve their education and career goals through its test preparation, tutoring, and admissions services, its online resources, and its more than 150 print and digital books published by Random House LLC.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-20 Southcross Energy LLC

Dallas, Texas, United States

Southcross Energy is a midstream natural gas company engaged in the gathering, processing and pipeline transportation of natural gas, with a total of more than 2,100 miles of pipeline assets.

Sell -
Buyer

Golub Capital

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Lender
Founded 1994
PE ASSETS 25.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Golub Capital is a private investment firm focused on making debt and equity investments in US based middle-market companies. Golub looks to invest between $5 and $75 million in businesses with established operating cash flow, strong customer relationships, and 'sustainable proprietary positions in their markets'. Prospective investment structures include refinancings, recapitalizations, buyouts, and growth financings. Sectors of interest include consumer products, business and consumer services, defense, manufacturing, value-added distribution, media, healthcare services and restaurants. Golub Capital was formed in 1994 and maintains offices in New York City, Atlanta, and Chicago.


DEAL STATS #
Overall 23 of 67
Sector (Software) 1 of 4
Type (Consolidation) 2 of 3
State (Georgia) 2 of 4
Country (United States) 23 of 64
Year (2012) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-21 NAVEX Global, Inc.

Lake Oswego, Oregon, United States

NAVEX Global, Inc. is a provider of ethics and compliance software, content and services helps organizations protect their people, reputation and bottom line. NAVEX Global, Inc. was founded in 2012 and is based in Lake Oswego, Oregon.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-08 Sage Dental Management LLC

Boca Raton, Florida, United States

Sage Dental Management LLC dental service organization providing comprehensive administrative support services and facilities. Sage Dental Management is based in Boca Raton, Florida.

Buy -
Buyer

TA Associates

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1968
PE ASSETS 28.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

TA Associates Management LP is a private equity firm that targets investments in middle-market and large companies around the world. TA will consider control or minority investments in profitable companies and looks to commit between $50 and $500 million per transaction. TA currently manages approximately $24 billion of capital and proactively reaches out to companies directly in sourcing potential investment opportunities. Prospective businesses are generally valued between $150 million and $3 billion. Areas of interest include technology, software, communications, financial services, healthcare, business services, semiconductors/electronics, and consumer products/services. In addition to investing equity capital, TA also makes subordinated debt investments up to $75 million. TA's geographic preference is North America and Europe. TA Associates was formed in 1968 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 191 of 324
Sector (Software) 34 of 66
Type (Consolidation) 3 of 4
State (Georgia) 5 of 7
Country (United States) 163 of 243
Year (2012) 6 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-11 Forgame Holdings Limited

Shenzhen, China

Forgame Holdings is a developer and publisher of online, browser-based games. The company develops, distributes and markets games through company-owned portals and more than 100 third-party portals and platforms. Forgame Holdings was founded in 2009 and is based in Shenzhen, China.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-03 Aurora Networks, Inc.

Santa Clara, California, United States

Aurora Networks is the only pure-play optical transport solution provider focused solely on cable network operators. The company’s broad array of optical network products and technology includes optical transmitters, node platforms and Ethernet equipment that deliver enhanced services and greater bandwidth to subscribers while reducing the cable operator’s total cost of ownership.

Sell $310M
Buyer

Vista Equity Partners

Austin, Texas, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2000
PE ASSETS 57.0B USD
SizeMega
Type Sector Focused
DESCRIPTION
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.

Vista Equity Partners is a mega-sized private equity firm focused on investing in software and technology enabled services. Specific areas of interest include software, software-as-a-service (SaaS), technology-enabled business services, and technology-enabled information services. Vista can commit up to $700 million per transaction and will consider a variety transaction situations, including management/leveraged buyouts, growth or acquisition financings, recapitalizations or restructurings, spinouts, and take privates. Vista Equity Partners was formed in 2000 and is based in Austin, Texas with additional offices in Chicago, Illinois; Oakland, California; and San Francisco, California.


DEAL STATS #
Overall 29 of 128
Sector (Software) 13 of 51
Type (Consolidation) 1 of 4
State (Georgia) 4 of 8
Country (United States) 25 of 117
Year (2012) 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-30 Sunquest Information Systems, Inc.

Tucson, Arizona, United States

Sunquest Information Systems, Inc. is a provider of clinical and financial software solutions for the healthcare industry. The company designs, develops, and supports a comprehensive suite of information products for hospitals and commercial laboratories that include best-of-breed laboratory, radiology, and pharmacy software systems.

Sell $1.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-14 Relias Learning LLC

Boca Raton, Florida, United States

Relias Learning LLC is a provider of verticalized e-learning solutions through SaaS-based software and related course content. The solutions enable organizations to remain in compliance with regulatory and accreditation requirements and offer continuing education solutions to current employees. Relias Learning was founded in 2012 and is based in Boca Raton, Florida.

Buy -