M&A Deal Summary

Bridgepoint and HarbourVest Partners Acquire Kyriba

On March 28, 2019, private equity firms Bridgepoint and HarbourVest Partners acquired internet software and services company Kyriba from Sumeru Equity Partners for 1.2B USD

Acquisition Highlights
  • This is Bridgepoint’s 5th and HarbourVest Partners’ 12th transaction in the Internet Software and Services sector.
  • This is Bridgepoint’s 2nd and HarbourVest Partners’ 39th largest (disclosed) transaction.
  • This is Bridgepoint’s 9th and HarbourVest Partners’ 116th transaction in the United States.
  • This is Bridgepoint’s 5th and HarbourVest Partners’ 14th transaction in California.

M&A Deal Summary

Date 2019-03-28
Target Kyriba
Sector Internet Software and Services
Buyer(s) Bridgepoint
HarbourVest Partners
Sellers(s) Sumeru Equity Partners
Deal Type Secondary Buyout
Deal Value 1.2B USD

Target

Kyriba

San Diego, California, United States
website
Kyriba is a provider of cloud treasury and financial management solutions. Kyriba delivers a highly secure, 100% SaaS platform, superior bank connectivity and a seamlessly integrated solution set for tackling today’s most complex financial challenges. More than 1,600 companies, including many of the world’s largest organizations, rely on Kyriba to streamline key processes, protect against loss from fraud and cybercrime, and accelerate growth opportunities through improved decision support. Kyriba was founded in 2000 and is based in San Diego, California.

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Buyer(S) 2

Buyer

Bridgepoint

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1984
PE ASSETS 28.2B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Bridgepoint is a large European private equity firm that invests in middle-market companies across a broad range of industries with an enterprise value of €200 - €1000 million. Prospective transaction situations include buyouts, buy-ins, growth financings, consolidations, and take privates. The firms invest in the range of €75 - €400 million transaction. Bridgepoint Development Capital specializes in investments in businesses valued up to a €150 million, taking equity stakes of between €10 million and €75 million. General sectors of interest include consumer products and services, retail, financial services, healthcare, media, technology, industrials, and business services. Bridgepoint was formed in 1984 and has offices in London, Frankfurt, Luxembourg, Madrid, Milan, Paris, Stockholm and Warsaw.


DEAL STATS #
Overall 132 of 164
Sector (Internet Software and Services) 5 of 7
Type (Secondary Buyout) 52 of 68
State (California) 5 of 6
Country (United States) 9 of 12
Year (2019) 3 of 8
Size (of disclosed) 2 of 58
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-22 eFront SA

Paris, France

eFront SA provides end-to-end solutions dedicated to the financial services industry, specializing in enterprise risk management and alternative investments. eFront was formed in 1999 and is based in Paris.

Sell $1.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-01 Nextlane

Paris, France

Nextlane is a provider of CRM solutions to OEMs and automotive dealers. The company is engaged in the development of global customer management solutions for sales, marketing, and aftersales in automotive industry. Nextlane was founded in 2000 and is based in Paris, France.

Buy -
Buyer

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 195 of 223
Sector (Internet Software and Services) 12 of 17
Type (Secondary Buyout) 46 of 55
State (California) 14 of 19
Country (United States) 116 of 133
Year (2019) 4 of 9
Size (of disclosed) 39 of 68
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-27 CPS

Dublin, Ohio, United States

CPS is a provider of outsourced pharmacy services to hospitals and integrated health systems. CPS offers a suite of services, information technology and data informatics, including pharmacy management, technology-based tools and data analytics. CPS was founded in 1971 and is based in Dublin, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-04 Custom Ink

Fairfax, Virginia, United States

Custom Ink provides custom apparel and accessories for groups, events, and special occasions. The company helps group organizers bring their families, friends, teammates, and colleagues together with inspired designs they are proud to wear. Custom Ink makes the customization process fun and easy with innovative design tools, caring customer service, creative design inspiration and high-quality merchandise. Custom Ink was founded in 2000 and is based in Fairfax, Virginia.

Buy -

Seller(S) 1

DESCRIPTION

Sumeru Equity Partners, Inc. is a technology-focused private equity firm that makes investments in mid-market software, technology enabled services, and hardware companies with a focus on growth. Sumeru Equity Partners typically invests between $25 and $200 million in companies with revenues greater than $10 million. Sumeru Equity Partners was formed in 2014 and is based in Foster City, California.


DEAL STATS #
Overall 3 of 11
Sector (Internet Software and Services) 1 of 5
Type (Secondary Buyout) 1 of 1
State (California) 2 of 3
Country (United States) 3 of 8
Year (2019) 1 of 3
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-29 Firstup

San Francisco, California, United States

Firstup is a workforce communications platform that enables organizations to accelerate and accomplish their business initiatives by reaching, aligning, and mobilizing every worker. Firstup is based in San Francisco, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-17 3Gtms

Columbus, Ohio, United States

3Gtms is the fastest growing tier 1 transportation management system (TMS) provider and is committed to giving mid-to-large shippers and logistics service providers a competitive advantage through technology. 3Gtms was founded in 2013 and is based in Columbus, Ohio.

Buy -