M&A Deal Summary

Koch Industries Acquires Transaction Network Services

On June 1, 2021, Koch Industries acquired communications company Transaction Network Services from Siris Capital Group and DFO Management

Acquisition Highlights
  • This is Koch Industries’ 1st transaction in the Communications sector.
  • This is Koch Industries’ 10th transaction in the United States.
  • This is Koch Industries’ 1st transaction in Virginia.

M&A Deal Summary
Date 2021-06-01
Target Transaction Network Services
Sector Communications
Buyer(s) Koch Industries
Sellers(s) Siris Capital Group
DFO Management
Deal Type Add-on Acquisition

Target

Transaction Network Services

Reston, Virginia, United States
Transaction Network Services is a provider of fast, reliable data communications services for transaction-oriented applications. TNS combines innovation, advanced technology, and industry expertise to provide a range of authorization and communications solutions to support the credit card and ATM transaction processing industry. The Company also provides secure and highly reliable data network services to the telecommunications and securities industries. Transaction Network Services was formed in 1990 and is based in Reston, Virginia.

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Buyer(S) 1

Buyer

Koch Industries

Wichita, Kansas, United States
Category Company
Founded 1940
Sector Diversified
Employees60,000
Revenue 115.0B USD (2012)
DESCRIPTION

Koch Industries owns a diverse group of companies engaged in refining and chemicals; fibers and polymers; commodity and financial trading; and forest and consumer products. Koch Industries was formed in 1940 and is based in Wichita, Kansas.

DEAL STATS #
Overall 12 of 14
Sector (Communications) 1 of 1
Type (Add-on Acquisition) 10 of 11
State (Virginia) 1 of 1
Country (United States) 10 of 12
Year (2021) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-01 PQ Performance Chemicals

Malvern, Pennsylvania, United States

PQ Performance Chemicals is a global supplier of silicate and derivative products that serve as environmentally friendly substitutes for materials used in a variety of applications. These include end uses such as matting agents in surface coatings, clarifying agents for edible oils and beverages, additives to paints and coatings for thermal insulation, and sensory particles in personal care products to improve feel attributes.

Buy $1.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-30 Depcom Power

Scottsdale, Arizona, United States

Depcom Power is a development support, engineering procurement & construction (EPC), and operations & maintenance (O&M) services provider for the Utility-Scale Solar industry. Depcom Power was founded in 2013 and is based in Scottsdale, Arizona.

Buy -

Seller(S) 2

SELLER

Siris Capital Group

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2011
PE ASSETS 2.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Siris Capital Group is a private equity firm focused on control investments in technology, telecommunications, and healthcare companies. Siris looks to acquire large companies valued from $250 million to $2 billion. The Firm was spun out of hedge fund SAC Capital Advisors in 2011. Siris Capital Group is based in New York City.

DEAL STATS #
Overall 8 of 9
Sector (Communications) 3 of 3
Type (Add-on Acquisition) 7 of 8
State (Virginia) 1 of 1
Country (United States) 7 of 8
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-27 Equiniti Group

West Sussex, United Kingdom

Equiniti Group is a UK provider of share registration and associated investor services. Equiniti Group was founded in 2007 and is based in West Sussex, United Kingdom.

Buy £673M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-29 Stratus

Maynard, Massachusetts, United States

Stratus is a developer, manufacturer, and marketer of highly specialized 'fault tolerant' servers 'mission critical' computing applications. Stratus’ flexible solutions – software, platform and services – prevent downtime before it occurs and ensure uninterrupted performance of essential business operations. Stratus was founded in 1980 and is based in Maynard, Massachusetts.

Sell $225M
SELLER

DFO Management

New York, New York, United States

Investor Investor

Category Family Office
Founded 1998
PE ASSETS 16.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

DFO Management is the private investment vehicle for Michael Dell, founder of Dell Computers. The Firm targets investment opportunities across the US and internationally and is split into several groups. These include Public Equity, Special Opportunities, Private Equity, Real Estate, and Partnerships. The Private Equity group targets transactions that include leveraged and management buyouts, take privates, mezzanine debt and other structured investments, PIPEs and growth equity financings, platform acquisitions and roll-ups, and partnerships with other financial sponsors. DFO looks to commit $100 to $250 million per transaction and prefers investments in non-technology companies. DFO Management was formed in 1998 and is based in New York City.

DEAL STATS #
Overall 10 of 10
Sector (Communications) 1 of 1
Type (Add-on Acquisition) 4 of 4
State (Virginia) 1 of 1
Country (United States) 9 of 9
Year (2021) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-29 Endeavor

Beverly Hills, California, United States

Endeavor is a global sports and entertainment company, home to the world’s most dynamic and engaging storytellers, brands, live events, and experiences. The Endeavor network specializes in talent representation; marketing and licensing; content development, distribution, and sales; event management; and a number of direct-to-consumer offerings. Endeavor was incorporated in 1898 and is based in Beverly Hills, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-10 West Monroe Partners

Chicago, Illinois, United States

West Monroe Partners is a provider of business and technology consultancy services. West Monroe Partners was founded in 2002 and is based in Chicago, Illinois.

Buy -
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