Investment Summary

Great Hill Partners, Battery Ventures and HarbourVest Partners Exits Wayfair

On October 1, 2014, invested in e-commerce company Wayfair from Great Hill Partners, Battery Ventures and HarbourVest Partners

Investment Highlights
  • This is transaction in the E-Commerce sector.
  • This is transaction in the United States.
  • This is transaction in Massachusetts.

Investment Summary

Date 2014-10-01
Target Wayfair
Sector E-Commerce
Sellers(s) Great Hill Partners
Battery Ventures
HarbourVest Partners
Deal Type IPO

Target

Wayfair

Boston, Massachusetts, United States
Wayfair distribution center in Lancaster, Texas.
Wayfair distribution center in Lancaster, Texas.
Wayfair is an online home goods retailers focused on hard-line specialty categories, such as furniture, home improvement, housewares and office. Wayfair was established in 2002 and is based in Boston, Massachusetts.

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Seller(S) 3

SELLER

Great Hill Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 12.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Great Hill Partners is a private equity firm focused on growth equity and recapitalization investments in well established public and private companies valued put to $1 billion. Great Hill targets companies within consumer services, business services, financial technology, healthcare, internet, logistics, media, communications, technology services, software and transaction processing. The Firm invests in the range of $25 to $500 million per transaction. Great Hill prefers companies located in the US, but will also consider opportunities in Europe and Latin America. Great Hill Partners was formed in 1998 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 24 of 64
Sector: E-Commerce M&A 3 of 4
Type: IPO M&A Deals 2 of 4
State: Massachusetts M&A 2 of 9
Country: United States M&A 20 of 54
Year: 2014 M&A 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-22 PAI Group

Moorestown, New Jersey, United States

PAI Group, Inc. dba PayChoice is a provider of payroll processing and benefits management solutions to small and mid-markets.

Sell $158M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-17 Momondo Group

London, United Kingdom

Momondo Group Ltd. is an online travel media and technology company that provides travel search tools and inspiration to millions of visitors a month across 30 core international markets.

Buy -
SELLER

Battery Ventures

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1983
PE ASSETS 13.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Battery Ventures is a private investment firm focused on opportunities in the technology and related-sectors. Battery will invest at all company stages, from seed and early-stage capital situations to leveraged buyouts, PIPEs, spin outs, rollups and take-privates of established companies. Battery's private equity group focuses on investments in companies with revenue of $5 to $200 million and EBITDA up to $25 million. Battery can commit up to $100 million in equity per transaction. Specific areas of interest include software; IT services and outsourcing; communications components, systems, and services; and financial services and tech-enabled businesses. Battery will consider investments throughout North America, Europe, and Asia. Battery Ventures was formed in 1983 and is headquartered in Menlo Park, California.


DEAL STATS #
Overall 28 of 67
Sector: E-Commerce M&A 2 of 2
Type: IPO M&A Deals 12 of 16
State: Massachusetts M&A 4 of 5
Country: United States M&A 25 of 52
Year: 2014 M&A 7 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-29 Bluestem Brands

Eden Praire, Minnesota, United States

Bluestem Brands is a multi-brand retailer, delivering a wide selection of products and shop-at-home convenience through e-commerce and direct marketing via the Fingerhut and Gettington.com brands. In addition to offering a large selection of brand name products, our brands also offer a variety of credit options to provide families on a budget the flexibility of paying over time. Bluestem Brands was founded in 2002 and is based in Eden Prairie, Minnesota.

Sell $565M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-17 Zayo

Boulder, Colorado, United States

Zayo is a provider of bandwidth infrastructure and network neutral colocation and interconnection services. Zayo's services allow its customers, which include telecom carriers, wireless service providers, media and content companies, and other bandwidth-intensive businesses, to transport data, voice, video, and internet traffic, as well as to interconnect their networks. Zayo was founded in 2007 and is based in Boulder, Colorado.

Sell -
SELLER

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 147.0B 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 53 of 150
Sector: E-Commerce M&A 2 of 3
Type: IPO M&A Deals 18 of 32
State: Massachusetts M&A 5 of 6
Country: United States M&A 32 of 91
Year: 2014 M&A 9 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-01 Flinn Scientific

Batavia, Illinois, United States

Flinn Scientific is a supplier of educational science supply products to the K-12 and Higher Education markets. Flinn Scientific was founded in 1977 and is based in Batavia, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-02 York Risk Services Group

Parsippany, New Jersey, United States

York Risk Services Group is a provider of customized claims management, managed care, risk management, pool administration, and specialized loss adjusting services to markets including public entities, programs, carriers and all types of self-insureds.

Sell $1.3B