M&A Deal Summary

HGGC, TA Associates, Charlesbank Capital Partners, Harvest Partners Structured Capital and Alberta Investment Management Acquire HelpSystems

On April 4, 2018, private equity firm HGGC, private equity firm TA Associates, private equity firm Charlesbank Capital Partners, private equity firm Harvest Partners Structured Capital and pension Alberta Investment Management acquired information technology company HelpSystems from H.I.G. Capital

Acquisition Highlights
  • This is HGGC’s 3rd, TA Associates’ 32nd, Charlesbank Capital Partners’ 4th, Harvest Partners Structured Capital’s 1st and Alberta Investment Management’s 2nd transaction in the Information Technology sector.
  • This is HGGC’s 25th, TA Associates’ 214th, Charlesbank Capital Partners’ 52nd, Harvest Partners Structured Capital’s 17th and Alberta Investment Management’s 7th transaction in the United States.
  • This is HGGC’s 1st, TA Associates’ 3rd, Charlesbank Capital Partners’ 1st, Harvest Partners Structured Capital’s 1st and Alberta Investment Management’s 1st transaction in Minnesota.

M&A Deal Summary

Date 2018-04-04
Target HelpSystems
Sector Information Technology
Buyer(s) HGGC
TA Associates
Charlesbank Capital Partners
Harvest Partners Structured Capital
Alberta Investment Management
Sellers(s) H.I.G. Capital
Deal Type Secondary Buyout
Advisor(s) Kirkland & Ellis LLP (Legal)

Target

HelpSystems

Eden Prairie, Minnesota, United States
website
HelpSystems is a provider of security and compliance, systems and network management, and business intelligence solutions. The company serves more than 17,000 organizations globally, providing their IT departments with software and services that encrypt and secure data, monitor and automate processes, and enable access to information. HelpSystems was founded in 1982 and is based in Eden Prairie, Minnesota.

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Buyer(S) 5

Buyer

HGGC

Palo Alto, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2007
PE ASSETS 4.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

HGGC (formerly Huntsman Gay Global Capital) focuses on middle-market leveraged buyouts, growth equity financings, recapitalizations, take privates, and corporate divestitures. The Firm primarily targets North American companies, but will consider international opportunities as well. HGGC looks to invest $25 to $100 million in companies generating sales of $75 million to $1 billion. HGGC primarily targets enterprise software companies, however, the Firm will also consider opportunities in business services, consumer services, financial services, healthcare, industrial services, and information services. HGGC was formed in 2007 and is based in Palo Alto, California.


DEAL STATS #
Overall 29 of 41
Sector (Information Technology) 3 of 3
Type (Secondary Buyout) 9 of 11
State (Minnesota) 1 of 1
Country (United States) 25 of 35
Year (2018) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-28 Denodo Technologies

Palo Alto, California, United States

Denodo Technologies, Inc. is a provider is a provider of platform for modern, high performance, real-time data integration and data services delivery powered by data virtualization technology. Leaders in every industry including Amgen, Asurion, Autodesk, Vodafone, Seagate, Sumitomo Mitsui Trust Bank, and SwissRe have chosen Denodo’s award-winning solutions using data virtualization for logical data warehouse and big data lakes, single-view applications, logical data access for cloud modernization, information self-service, enterprise data services, and data governance and compliance initiatives.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-01 RPX

San Francisco, California, United States

RPX Corp. is a provider of patent risk and discovery management solutions. Since its founding in 2008, RPX has introduced efficiency to the patent market by providing a rational alternative to litigation. The San Francisco-based company’s pioneering approach combines principal capital, deep patent expertise, and client contributions to generate enhanced patent buying power. By acquiring patents and patent rights, RPX helps to mitigate and manage patent risk for its growing client network.

Buy $555M
Buyer

TA Associates

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1968
PE ASSETS 36.0B USD
Size Mega
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 274 of 340
Sector (Information Technology) 32 of 40
Type (Secondary Buyout) 37 of 60
State (Minnesota) 3 of 4
Country (United States) 214 of 252
Year (2018) 4 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-14 Confluence

Pittsburgh, Pennsylvania, United States

Confluence is a financial services data management software platform that offers mission-critical regulatory, investor communications, and performance reporting solutions to the global asset management industry. Confluence is uniquely positioned as the only unified data-driven software platform that enables asset managers and global and regional fund administrators to automate various communications and reporting to shareholders and regulators. Confluence was founded in 1991 and is based in Pittsburgh, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-11 Amann Girrbach AG

Koblach, Austria

Amann Girrbach AG is a developer, manufacturer and sells precision systems and consumables, including the flagship Ceramill CAD/CAM system. Amann Girrbach AG was founded in 1973 and is headquartered in Koblach, Austria.

Sell -
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
Size Mega
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 59 of 76
Sector (Information Technology) 4 of 5
Type (Secondary Buyout) 17 of 23
State (Minnesota) 1 of 1
Country (United States) 52 of 69
Year (2018) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-12 Cedar Creek

Tulsa, Oklahoma, United States

Cedar Creek, Inc. is a wholesale building materials distribution company.Beginning as one yard in Oklahoma, we have since expanded our operations across the United States. “Locations” of our distribution yards can be found under the locations link. The Company is headquartered in Oklahoma with operations in the United States, offering a wide range of products that vary by region.

Sell $413M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-17 Hearthside Food Solutions

Downers Grove, Illinois, United States

Hearthside Food Solutions is a food contract manufacturer. The Company offers diverse production capabilities including bars, cookies, crackers, granola, snack components, and other baked goods. Hearthside specializes in the production of complex, high-volume, short-run products, which represent an increasing portion of customer demand. Hearthside Food Solutions was founded in 2009 and is based in Downers Grove, Illinois.

Buy -
DESCRIPTION

Harvest Partners Structured Capital is a private investment group focused on minority position, non-control investments. The Group looks for businesses with $100 million to $1 billion in revenues where Harvest can commit $50 to $250 million. Sectors of interest include business services, consumer services, healthcare, industrial services, manufacturing, and distribution. Harvest Partners Structured Capital is a unit of PE Firm Harvest Partners. The Firm is based in New York City.


DEAL STATS #
Overall 18 of 31
Sector (Information Technology) 1 of 4
Type (Secondary Buyout) 6 of 11
State (Minnesota) 1 of 2
Country (United States) 17 of 30
Year (2018) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-22 EyeCare Services Partners

Dallas, Texas, United States

EyeCare Services Partners is a provider of comprehensive practice management services to over 100 ophthalmologists and optometrists in its 46 clinics and seven ambulatory surgery centers across five states. EyeCare Services Partners was founded in 2014 and is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-04 Neighborly

Waco, Texas, United States

Neighborly is a home services franchisor of 25 service brands (including Neighborly umbrella service brand) and more than 4,000 franchise owners serving 10 million+ customers in nine countries, focused on repairing, maintaining and enhancing homes and businesses. Neighborly was founded in 1981 and is based in Waco, Texas.

Buy -
Buyer
DESCRIPTION

Alberta Investment Management Corporation (AIMCo) is a Canadian diversified institutional investment manager serving pension, endowment and government funds in the province of Alberta. In addition to investing in public equities, fixed income, and debt, AIMCo looks to invest in private equity, real estate, timberlands, and infrastructure. AIMCo's private equity group invests in funds and directly in companies throughout North America and Western Europe. Areas of interest include consumer, industrials, business services, financial services, technology, and healthcare. AIMCo is based in Edmonton, with additional offices in Toronto and London.


DEAL STATS #
Overall 14 of 29
Sector (Information Technology) 2 of 2
Type (Secondary Buyout) 7 of 12
State (Minnesota) 1 of 1
Country (United States) 7 of 15
Year (2018) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-24 Benevity

Calgary, Alberta, Canada

Benevity is a provider of corporate social responsibility and employee engagement software that allows companies to automate processes for online workplace giving, volunteering, and community investment with a social mission of “doing well by doing good.” Benevity was founded in 2008 and is based in Calgary, Alberta.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-01 Fortitude Reinsurance

Pembroke, Bermuda

Fortitude Reinsurance is a multi-line reinsurance company with deep expertise in the management of closed blocks of insurance liabilities. Fortitude Re is a liability-led company complemented by sophisticated asset sourcing and asset-liability management expertise. Fortitude Reinsurance was founded in 2017 and is based in Pembroke, Bermuda.

Buy $1.8B

Seller(S) 1

SELLER

H.I.G. Capital

Miami, Florida, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1993
PE ASSETS 25.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital LLC. The firm focuses on management buyouts, growth equity investments, and recapitalizations of middle market companies with an enterprise value of $50 - $500 million. The Firm also will consider add-on acquisitions, industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 and has offices in Miami, Atlanta, Boston, and San Francisco. HIG's European affiliate is HIG Europe with offices in London, Hamburg, and Paris.


DEAL STATS #
Overall 96 of 143
Sector (Information Technology) 4 of 10
Type (Secondary Buyout) 38 of 60
State (Minnesota) 1 of 1
Country (United States) 74 of 105
Year (2018) 5 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-12 Matrixx Initiatives

Bridgewater, New Jersey, United States

Matrixx Initiatives, Inc. manufactures and markets Zicam® brand OTC products, including its clinically proven ZICAM® Cold Remedy Nasal Spray and Swab, ZICAM® Cold Remedy RAPIDMELTS®, ZICAM® Cold Remedy Medicated Fruit Drops, ZICAM® Extreme Congestion Relief, and ZICAM® Intense Sinus Relief. Matrixx Initiatives is based in Bridgewater, New Jersey.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-26 Radius GGE

Boston, Massachusetts, United States

Radius GGE (USA), Inc. is a provider of an international accounting, finance, banking, tax, HR, legal and compliance support to simplify their core operations, reduce their risk exposure and improve the management and control of their overseas businesses.

Sell -