M&A Deal Summary

Siris Capital Group, MSD Capital and Koch Equity Development Acquire Transaction Network Services

On December 11, 2012, private equity firm Siris Capital Group, family office MSD Capital and private equity firm Koch Equity Development acquired communications company Transaction Network Services for 862M USD

Acquisition Highlights
  • This is Siris Capital Group’s 2nd, MSD Capital’s 1st and Koch Equity Development’s 1st transaction in the Communications sector.
  • This is Siris Capital Group’s 7th, MSD Capital’s and Koch Equity Development’s largest (disclosed) transaction.
  • This is Siris Capital Group’s 3rd, MSD Capital’s 7th and Koch Equity Development’s 1st transaction in the United States.
  • This is Siris Capital Group’s 1st, MSD Capital’s 1st and Koch Equity Development’s 1st transaction in Virginia.

M&A Deal Summary

Date 2012-12-11
Target Transaction Network Services
Sector Communications
Buyer(s) Siris Capital Group
MSD Capital
Koch Equity Development
Deal Type Going Private
Deal Value 862M USD
Advisor(s) Greenhill & Co., Inc. (Financial)
Gibson, Dunn & Crutcher LLP (Legal)

Target

Transaction Network Services

Reston, Virginia, United States
website
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) 3

Buyer

Siris Capital Group

New York, New York, United States

Investor Investor Investor Investor Investor

website


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 3 of 16
Sector (Communications) 2 of 3
Type (Going Private) 3 of 9
State (Virginia) 1 of 1
Country (United States) 3 of 15
Year (2012) 2 of 2
Size (of disclosed) 7 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-27 Tekelec Global

Morrisville, North Carolina, United States

Tekelec Global, Inc. is a provider of signaling and session control systems and software to both wireless and wireline carriers as well as cable network operators.

Buy $780M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-03-25 Tekelec Global

Morrisville, North Carolina, United States

Tekelec Global, Inc. is a provider of signaling and session control systems and software to both wireless and wireline carriers as well as cable network operators.

Sell -
Buyer

MSD Capital

New York, New York, United States

Investor Investor Investor Investor Investor

website


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

MSD Capital 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. MSD looks to commit $100 to $250 million per transaction and prefers investments in non-technology companies. MSD Capital was formed in 1998 and maintains offices in New York City; Santa Monica, California; and London.


DEAL STATS #
Overall 7 of 14
Sector (Communications) 1 of 1
Type (Going Private) 1 of 1
State (Virginia) 1 of 1
Country (United States) 7 of 13
Year (2012) 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-02 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. Endeavor is comprised of industry leaders including entertainment agency WME; sports, fashion, events, and media company IMG; and premier mixed martial arts organization UFC. 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 is based in Beverly Hills, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-01 Waypoint Leasing

Limerick, Ireland

Waypoint Leasing Ltd. is a global helicopter leasing company focused on providing financing solutions to helicopter operators worldwide. Waypoint Leasing was formed in 2013 and is based in Limerick, Ireland.

Buy -
DESCRIPTION


DEAL STATS #
Overall 1 of 2
Sector (Communications) 1 of 1
Type (Going Private) 1 of 1
State (Virginia) 1 of 1
Country (United States) 1 of 2
Year (2012) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-12 6K

North Andover, Massachusetts, United States

6K engages in the sustainable production of engineered materials for lithium-ion batteries and additive manufacturing produced from its UniMelt® plasma technology. 6K was founded in 2014 and is headquartered in North Andover, Massachusetts.

Buy -