M&A Deal Summary

eBay Acquires WHI Solutions

On May 18, 2012, eBay acquired information technology company WHI Solutions from MidMark Capital, Starboard Capital Partners, Polaris Partners and Goldman Sachs Merchant Banking

Acquisition Highlights
  • This is eBay’s 1st transaction in the Information Technology sector.
  • This is eBay’s 26th transaction in the United States.
  • This is eBay’s 2nd transaction in New York.

M&A Deal Summary

Date 2012-05-18
Target WHI Solutions
Sector Information Technology
Buyer(s) eBay
Sellers(s) MidMark Capital
Starboard Capital Partners
Polaris Partners
Goldman Sachs Merchant Banking
Deal Type Add-on Acquisition

Target

WHI Solutions

Rye Brook, New York, United States
WHI Solutions is a provider of e-commerce tools for the automotive aftermarket. The company facilitates the sale of millions of brand name auto and truck parts, accessories, performance products, and consumer items.

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Buyer(S) 1

Buyer

eBay

San Jose, California, United States

Category Company
Founded 1995
Sector Internet Software and Services
Employees11,500
Revenue 10.3B USD (2024)
DESCRIPTION
Entrance to eBay's corporate headquarters in San Jose, California.
Entrance to eBay's corporate headquarters in San Jose, California.

eBay is an online retailer and provider of auction tools and services. eBay enables global commerce and payments on behalf of users, merchants, retailers and brands of all sizes. The technologies and services eBay provides are designed to enable users and merchants worldwide to organize and offer their inventory for sale and buyers to find, buy and pay for it virtually anytime and anywhere. eBay was founded in 1995 and is based in San Jose, California.


DEAL STATS #
Overall 46 of 70
Sector: Information Technology M&A 1 of 3
Type: Add-on Acquisition M&A Deals 38 of 60
State: New York M&A 2 of 5
Country: United States M&A 26 of 38
Year: 2012 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-22 Rent.com

Los Angeles, California, United States

Rent.com is a Internet listing site (ILS) in the rental housing industry, enabling renters to find a residential rental property online using a free robust search tool. Rent.com has the most online traffic and the largest inventory of contracted property listings.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-06 Svpply

New York, New York, United States

Svpply, Inc. a social shopping site that curates personalized collections of clothing and products.Every one of the 1.1 Million products in our Shop section has been selected by hand by one of our members, and brought to our site using our bookmarklet

Buy -

Seller(S) 4

SELLER

MidMark Capital

Morristown, New Jersey, United States

Category Private Equity Firm
Founded 1989
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

MidMark Capital is a private equity investment firm focused on acquiring mid-sized manufacturing companies. The Firm generally looks to acquire controlling interests in standalone businesses from private and corporate owners, however the MidMark will also make significant equity investments in rapidly growing businesses. MidMark typically acts as the lead investor when pursuing transactions. MidMark Capital was formed in 1989 and is based in Morristown, New Jersey.


DEAL STATS #
Overall 7 of 12
Sector: Information Technology M&A 1 of 1
Type: Add-on Acquisition M&A Deals 3 of 6
State: New York M&A 4 of 4
Country: United States M&A 7 of 11
Year: 2012 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-27 Universal Environmental Services

Peachtree City, Georgia, United States

Universal Environmental Services is a collector and reseller of used oil. Universal Environmental Services was founded in 1995 and is based in Peachtree City, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-07 DynaSys SA

Schiltigheim, France

DynaSys SA is a provider of supply chain management solutions. DynaSys provides an integrated suite of demand and supply chain planning solutions. DynaSys customers are primarily in France and other countries in Europe. DynaSys has strong penetration in the luxury goods retail and distribution markets, delivering products that handle the challenges of managing complex global supply chains and fluctuating customer demand. Additionally, DynaSys targets the food and beverage and retail markets, where the ability to plan millions of items simultaneously is critical to successful supply chain optimization. DynaSys also has customers in the pharmaceutical, cosmetics and chemical markets, often supporting them in highly regulated environments.

Sell €6M
SELLER

Starboard Capital Partners

Southport, Connecticut, United States

Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Starboard Capital Partners LLC is an unsponsored investment group that works with private equity investors and management in acquiring mid-sized businesses valued between $25 and $100 million. In addition to investing, Starboard earns equity for initiating transactions and for ongoing advisory services. Sectors of interest include automotive, consumer products, building materials, construction, distribution, e-commerce, franchising, manufacturing, healthcare, and real estate. Starboard Capital was formed in 2004 and is based in Southport, Connecticut.


DEAL STATS #
Overall 3 of 12
Sector: Information Technology M&A 1 of 2
Type: Add-on Acquisition M&A Deals 2 of 9
State: New York M&A 1 of 1
Country: United States M&A 3 of 12
Year: 2012 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-20 PureRED

Stone Mountain, Georgia, United States

PureRED Integrated Marketing is an advertising agency that designs and executes integrated retail marketing programs including pre-media advertising execution, digital creative/design, digital asset management services, photographic services, and interactive services for national retailers. PureRED was founded in 1967 and is based in Stone Mountain, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-15 Morgan Contracting

Knoxville, Tennessee, United States

Morgan Contracting is a construction contractor for water and wastewater infrastructure. MCI’s services include pipeline installation, design/build of wastewater treatment plants and pump stations, and tunneling for local municipalities and water authorities across the United States. Morgan Contracting was established in 1989 and is based in Knoxville, Tennessee.

Sell -
SELLER

Polaris Partners

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1996
PE ASSETS 5.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Polaris Partners is primarily a seed, first round, and early stage venture capital investor in information technology and life science businesses. However, Polaris also focuses on private equity investments in established companies. In this area, Polaris targets high growth middle market companies in industries including technology, healthcare, digital media, consumer products and services, and business services. The firm's investments include minority growth equity investments, recapitalizations with liquidity, and leveraged buyouts. Polaris Partners was formed in 1996 and has offices in Seattle, Washington and Waltham, Massachusetts.


DEAL STATS #
Overall 5 of 37
Sector: Information Technology M&A 2 of 7
Type: Add-on Acquisition M&A Deals 1 of 19
State: New York M&A 1 of 5
Country: United States M&A 5 of 34
Year: 2012 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-20 Internet Brands

El Segundo, California, United States

Internet Brands is an internet media company that owns and operates online media, community, and e-commerce websites in vertical markets. Internet Brands was founded in 1998 and is based in El Segundo, California.

Buy $640M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-06 Covetrus

Portland, Maine, United States

Covetrus is a provider of technology-enabled healthcare services for companion and equine veterinary practitioners. The company partners with veterinarians to create insight into gaps in patient care and offer professionalized pro-active prescription management to drive client engagement and improve compliance. Covetrus was formed in 2010 and is based in Portland, Maine.

Buy -
SELLER

Goldman Sachs Merchant Banking

New York, New York, United States

Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 155.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Goldman Sachs Merchant Banking Division is the investment arm of Goldman Sachs. The primary corporate investment group within the Merchant Banking Division is Goldman Sachs' direct investment arm. GS's direct investment arm consists of GS Capital Partners, GS Mezzanine Partners, and GS Growth Partners. GS Capital Partners is the direct corporate equity investment group which seeks LBO, recapitalization, and growth investments to help fund acquisitions, expansions, recapitalizations, restructurings, buyouts, and take privates. GS Capital Partners looks to invest between $50 and $800 million in opportunities in North/South America, Europe, Asia. GS Mezzanine Partners is the junior capital arm of Goldman Sachs. GS Mezzanine looks to invest between $200 million and and $800 million in transactions valued up to $10 billion. Investment proceeds are used to fund leveraged buyouts, expansion financings, recapitalizations, acquisitions, and restructurings. GS Growth looks to invest in growth equity transactions. The unit seeks to commit $20 to $200 million per investment. Other units within GS's merchant banking division include Real Estate, Infrastructure, and Urban Investments. Goldman Sachs Merchant Banking Division is based in New York City.


DEAL STATS #
Overall 36 of 126
Sector: Information Technology M&A 4 of 11
Type: Add-on Acquisition M&A Deals 8 of 43
State: New York M&A 3 of 12
Country: United States M&A 25 of 90
Year: 2012 M&A 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-18 Facebook

Menlo Park, California, United States

Facebook is a social utility company that helps people communicate more efficiently with their friends, family, and coworkers. Facebook develops technologies that facilitate the sharing of information through the social graph, the digital mapping of people's real-world social connections. Facebook was founded in 2004 and is based in Menlo Park, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-24 Bluefin Payment Systems

Atlanta, Georgia, United States

Bluefin Payment Systems is a provider of customized payment services specifically developed for independent software vendors and their clients in the U.S. and Canada. Bluefin Payment Systems was founded in 2007 and is based in Atlanta, Georgia.

Buy -