M&A Deal Summary

JMI Equity, The Carlyle Group and Juggernaut Capital Partners Acquire Catapult Learning

On March 17, 2008, private equity firms JMI Equity, The Carlyle Group and Juggernaut Capital Partners acquired education company Catapult Learning

Acquisition Highlights
  • This is JMI Equity’s 1st, The Carlyle Group’s 8th and Juggernaut Capital Partners’ 1st transaction in the Education sector.
  • This is JMI Equity’s 43rd, The Carlyle Group’s 185th and Juggernaut Capital Partners’ 2nd transaction in the United States.
  • This is JMI Equity’s 3rd, The Carlyle Group’s 6th and Juggernaut Capital Partners’ 1st transaction in Pennsylvania.
Investment Fate
  • Catapult Learning was sold to a consortium of financial buyers in 2018.

M&A Deal Summary

Date 2008-03-17
Target Catapult Learning
Sector Education
Buyer(s) JMI Equity
The Carlyle Group
Juggernaut Capital Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Catapult Learning

Philadelphia, Pennsylvania, United States
Catapult Learning is an outsourced K-12 educational services platform in the U.S. The Company serves more than 300,000 K-12 students across 300+ districts, including 16 of the 20 largest districts, in 38 states and the District of Columbia. Catapult Learning was founded in 1976 and is based in Philadelphia, Pennsylvania.

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Buyer(S) 3

Buyer

JMI Equity

La Jolla, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 7.5B USD
Size Mega
Type Sector Focused
DESCRIPTION

JMI Equity is a private equity firm focused on investments in software, internet, business service, and healthcare IT. Targeted businesses typically help automate and optimize business and information technology processes. The Firm will consider investments at all stages of development, including early-stage companies, self-funded businesses requiring growth capital, and later stage businesses in need of buyout or recapitalization funding. JMI looks to commit at least $25 million per transaction. JMI Equity was formed in 1992 and maintains offices in San Diego and Baltimore.


DEAL STATS #
Overall 47 of 130
Sector: Education M&A 1 of 3
Type: Buyout (LBO, MBO, MBI) M&A Deals 16 of 23
State: Pennsylvania M&A 3 of 3
Country: United States M&A 43 of 114
Year: 2008 M&A 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-16 ServiceBench

Fairfax, Virginia, United States

ServiceBench, Inc. is a provider of modular web-based service supply chain management applications to manufacturers, distributors, extended warranty providers and service providers.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-03-31 Intercept Interactive

New York, New York, United States

Intercept Interactive, Inc. (Undertone Networks) is a provider of advertising solutions for publishers and brands.

Buy -
Buyer

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 319 of 750
Sector: Education M&A 8 of 14
Type: Buyout (LBO, MBO, MBI) M&A Deals 120 of 221
State: Pennsylvania M&A 6 of 13
Country: United States M&A 185 of 350
Year: 2008 M&A 7 of 28
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-03-06 Honghua Group

Chengdu, China

Honghua Group is the largest land rig manufacturers in the world, specializing in the research, design and production of onshore rigs ranging from 2,000 m – 7,000 m of drilling depth. In addition to manufacturing drilling rigs and rig parts / components (e.g., mud pumps, masts, substructures, drawworks, drive systems and solids control systems), the Company offers drilling-related training and after-sales support services to its customers. Honghua Group was founded in 1997 and is based in Chengdu, China.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-04-01 Flexera

Itasca, Illinois, United States

Flexera is a provider of strategic software solutions for application usage management. The Company's solutions help clients deliver continuous compliance optimized usage and maximized value to application producers and their customers. Flexera was founded in 1987 and is based in Itasca, Illinois.

Buy $200M
Buyer

Juggernaut Capital Partners

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2009
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Juggernaut Capital Partners (JCP) is a private equity firm that targets middle market consumer products and business services companies throughout the US. The Firm seeks majority and minority stakes where it can commit $10 to $50 million of equity capital. JCP will consider a variety of transaction types, including buyouts, restructurings, and recapitalizations. Juggernaut Capital Partners was formed in 2009 and is based in Washington DC.


DEAL STATS #
Overall 2 of 32
Sector: Education M&A 1 of 2
Type: Buyout (LBO, MBO, MBI) M&A Deals 2 of 5
State: Pennsylvania M&A 1 of 3
Country: United States M&A 2 of 31
Year: 2008 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-18 Witt O Brien s

Washington, District of Columbia, United States

Witt O'Brien's is a risk management with the depth of experience and capability to provide services through the disaster and crisis life cycle.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-01-01 Amerex Group

New York, New York, United States

Amerex Group is a supplier of outerwear and children's swimwear to customers in the United States. Company designs, contract manufactures, imports and distributes its products into the women's, children's, women's juniors, urban and men's market segments. Amerex Group was founded in 1932 and is based in New York City.

Buy -