M&A Deal Summary

Leonard Green & Partners Acquires Veritext

On October 8, 2018, private equity firm Leonard Green & Partners acquired business services company Veritext from Pamplona Capital Management - Private Equity

Acquisition Highlights
  • This is Leonard Green & Partners’ 4th transaction in the Business Services sector.
  • This is Leonard Green & Partners’ 66th transaction in the United States.
  • This is Leonard Green & Partners’ 12th transaction in California.

M&A Deal Summary
Date 2018-10-08
Target Veritext
Sector Business Services
Buyer(s) Leonard Green & Partners
Sellers(s) Pamplona Capital Management - Private Equity
Deal Type Secondary Buyout
Advisor(s) Harris Williams & Co. (Financial)

Target

Veritext

Costa Mesa, California, United States
website
Veritext is a business services provider to the legal industry. Veritext provides technology-driven deposition and litigation support services to law firms and corporations around the globe.

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Buyer(S) 1

Buyer

Leonard Green & Partners

Los Angeles, California, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1989
PE ASSETS 40.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Leonard Green & Partners is a mega-sized private equity firm that invests in established companies that are leaders in their respective markets. Leonard Green will consider investments in consumer and business services, consumer products, distribution, media, and retail. Typical transaction values for acquisitions are between $500 million and $2 billion, however, the firm is capable of closing transactions valued up to $5 billion. Types of transactions include public-to-private, recapitalizations of privately held businesses, growth capital, equity capital to facilitate acquisitions, turnarounds/restructurings, and acquisitions of divisions/assets from large corporations. Leonard Green & Partners was formed in 1989 and is based in Los Angeles, California.

DEAL STATS #
Overall 71 of 83
Sector (Business Services) 4 of 6
Type (Secondary Buyout) 27 of 37
State (California) 12 of 12
Country (United States) 66 of 78
Year (2018) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-09 The Shade Store

Port Chester, New York, United States

The Shade Store is an omni-channel provider of custom window treatments in the United States with over 60 showrooms nationwide. The Shade Store offers a complete range of design, manufacturing, measuring and installation services for both consumers and design professionals.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-29 Tecta America

Rosemont, Illinois, United States

Tecta America is a provider of commercial roofing services in the U.S. offering installation, replacement, and repair services. It services both local and national accounts across a spectrum of industries and end-markets including industrial, retail / office, non-government institutional, government, multi-family and other. Tecta America was founded in 2000 and is based in Rosemont, Illinois.

Buy -

Seller(S) 1

SELLER

Pamplona Capital Management - Private Equity

London, United Kingdom

Investor Investor

website

Category Private Equity Firm
Founded 2005
PE ASSETS 11.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Pamplona Capital Management - Private Equity, is the private equity unit of asset manager Pamplona, which also provides hedge funds and hedge fund-of-funds products. Pamplona PE invests in 'market leading' companies in a variety of industry sectors. The Group will consider opportunities throughout North America and Europe. Pamplona PE was established in 2005 and is based in London and New York.

DEAL STATS #
Overall 16 of 20
Sector (Business Services) 3 of 3
Type (Secondary Buyout) 6 of 8
State (California) 1 of 2
Country (United States) 4 of 8
Year (2018) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-02 BBB Industries

Daphne, Alabama, United States

BBB Industries engages in the remanufacturing of starters, alternators, hydraulic and air disc brake calipers, both hydraulic and electronic power steering products and turbochargers for the OEM, personal and commercial vehicle aftermarket industries. BBB takes pride in producing the highest quality products in the industry with exacting standards that apply to customer service, the manufacturing process, product installation and to the performance on the vehicle. Automated test fixtures test every unit manufactured by BBB to meet or exceed OE specifications. BBB Industries was founded in 1987 headquartered in Daphne, Alabama.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-19 Latham International

Latham, New York, United States

Latham International, Inc. is a manufacturer of pool components and accessories in North America. The Company’s product offering includes in-ground vinyl pool liners, above-ground vinyl pool liners, polymer and steel pool wall systems, fiberglass pools, steps and ladders, pool safety covers, and other pool related accessories.

Buy $375M
Mergr

Product

Company

Legal