Investment Summary

Nautic Partners, NewSpring Capital and Brookstone Partners Invest In FirstBest Systems

On April 3, 2012, private equity firms Nautic Partners, NewSpring Capital and Brookstone Partners invested in software company FirstBest Systems

Investment Highlights
  • This is Nautic Partners’ 1st, NewSpring Capital’s 5th and Brookstone Partners’ 1st transaction in the Software sector.
  • This is Nautic Partners’ 38th, NewSpring Capital’s 63rd and Brookstone Partners’ 5th transaction in the United States.
  • This is Nautic Partners’ 3rd, NewSpring Capital’s 6th and Brookstone Partners’ 1st transaction in Massachusetts.
Investment Fate
  • FirstBest Systems was sold to a strategic buyer in 2016.

Investment Summary

Date 2012-04-03
Target FirstBest Systems
Sector Software
Investor(s) Nautic Partners
NewSpring Capital
Brookstone Partners
Deal Type Growth Capital

Target

FirstBest Systems

Bedford, Massachusetts, United States
FirstBest Systems, Inc. is a provider of insurance software solutions that help insurance companies improve underwriting profitability, scale their business and achieve high service levels with agents, across the enterprise.

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Investor(S) 3

Investor

Nautic Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 9.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Nautic Partners is a private equity firm focused on middle-market company investments based in the US. Nautic looks to invest $50 to $400 million of equity in businesses valued between $100 million and $1 billion. Nautic's industry focus is business services, manufacturing, healthcare, and communications. Prospective investment structures include buyouts, recapitalizations, consolidations, and growth financings. Nautic prefers majority investment positions. Nautic Partners was formed in 1986 and is based in Providence, Rhode Island.


DEAL STATS #
Overall 39 of 83
Sector: Software M&A 1 of 2
Type: Growth Capital M&A Deals 3 of 7
State: Massachusetts M&A 3 of 3
Country: United States M&A 38 of 82
Year: 2012 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-11 Mactec

Alpharetta, Georgia, United States

Mactec, Inc. is a provider of engineering, environmental and construction management services to national, state and local governments and multi-national, regional and local private companies. MACTEC offers an ever-broadening portfolio of sustainable solutions, from renewable energy to facility asset management.

Sell $280M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-09 Superior Vision

Rancho Cordova, California, United States

Superior Vision is a provider of vision and eye health solutions to the full spectrum of the vision care marketplace, including groups, health plans and government-sponsored programs. Company care for clients and members by delivering broad and affordable access to vision care, outstanding service and resources to help them make informed vision care choices that offer the greatest value. Superior Vision was founded in 1993 and is based in Rancho Cordova, California.

Buy -
Investor

NewSpring Capital

Radnor, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

NewSpring Capital is a private investment firm focused on growth companies in the Mid-Atlantic US. The Firm can provide both growth equity and junior capital to prospective companies. NewSpring's target investment size for both mezzanine and equity financing is $2 to $5 million, although for new ventures, the Firm can commit up to $10 million. Sectors of interest include specialty manufacturing, technology, business services, information technology, life science, healthcare services, and medical devices. NewSpring Capital was formed in 1999 and is based in Radnor, Pennsylvania with an additional office in Short Hills, New Jersey.


DEAL STATS #
Overall 64 of 201
Sector: Software M&A 5 of 15
Type: Growth Capital M&A Deals 20 of 106
State: Massachusetts M&A 6 of 17
Country: United States M&A 63 of 197
Year: 2012 M&A 3 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-01 iPipeline

Exton, Pennsylvania, United States

iPipeline is a provider of cloud-based software solutions for the life insurance and financial services industries. Through its SSG Digital, end-to-end platform, iPipeline accelerates and simplifies sales, compliance, operations, and support. iPipeline provides process automation and seamless integration between every participant in its ecosystem including carriers, agents, general agencies, advisors, broker-dealers, RIAs, banks, securities/mutual fund firms, and consumers on a global basis.

Buy $71M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-03 Zentech

Baltimore, Maryland, United States

Zentech is an engineering-driven electronics contract manufacturer specializing in the design and manufacture of highly-complex electronic and RF circuit cards and assemblies. Zentech was formed in 1998 and is based in Baltimore, Maryland.

Buy -
Investor

Brookstone Partners

New York, New York, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
Size Small
Type Sector Agnostic
DESCRIPTION

Brookstone Partners is a private equity firm focused on buyouts, recapitalizations, and growth capital financings of small to mid-sized North American companies. Brookstone looks to partner with management teams when evaluating companies and seeks profitable businesses where it can commit $5 to $25 million. Areas of interest include aerospace, building materials, healthcare, medical, packaging, and plastics. Brookstone Partners was formed in 2003 and is based in New York, New York.


DEAL STATS #
Overall 5 of 8
Sector: Software M&A 1 of 1
Type: Growth Capital M&A Deals 1 of 2
State: Massachusetts M&A 1 of 1
Country: United States M&A 5 of 8
Year: 2012 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-11-13 Limos.com

Phoenix, Arizona, United States

Limos.com LLC is an online marketplace for chauffeured transportation worldwide, enabling leisure and business travelers to compare and book pre-screened car services at specially-negotiated discounts of up to 40 percent off standard rates.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-20 WoodCrafters Home Products

Weslaco, Texas, United States

WoodCrafters Home Products LLC is a manufacturer of home furniture products. WoodCrafters operates manufacturing facilities in southern Texas and northern Mexico.

Sell $300M