M&A Deal Summary

New Mountain Capital and HarbourVest Partners Acquire Datavant Group

On October 31, 2014, private equity firms New Mountain Capital and HarbourVest Partners acquired information technology company Datavant Group from ABRY Partners and PennantPark Investment Advisers

Acquisition Highlights
  • This is New Mountain Capital’s 4th and HarbourVest Partners’ 15th transaction in the Information Technology sector.
  • This is New Mountain Capital’s 28th and HarbourVest Partners’ 78th transaction in the United States.
  • This is New Mountain Capital’s 2nd and HarbourVest Partners’ 3rd transaction in Georgia.

M&A Deal Summary

Date 2014-10-31
Target Datavant Group
Sector Information Technology
Buyer(s) New Mountain Capital
HarbourVest Partners
Sellers(s) ABRY Partners
PennantPark Investment Advisers
Deal Type Secondary Buyout

Target

Datavant Group

Alpharetta, Georgia, United States
website
Datavant Group is a large health data ecosystem, enabling patients, providers, payers, health data analytics companies, patient-facing applications, government agencies, and life science companies to securely exchange and organize their patient-level data. The company is focused on improving patient outcomes and reducing costs by removing impediments to the secure exchange of health data. Datavant Group offers the ability to access, exchange, and connect data among the thousands of organizations in its ecosystem for use cases ranging from better clinical care and value-based payments, to health analytics and medical research.

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Buyer(S) 2

Buyer

New Mountain Capital

New York, New York, United States

website


Category Private Equity Firm
Founded 2000
PE ASSETS 35.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

New Mountain Capital is a private investment firm focused on investment in public and private companies in a variety of industries. New Mountain generally invests $100 to $500 million per transaction and looks for businesses with strong market positions and high barriers to entry. New Mountain also prefers businesses that succeed in both good and bad economies. Sectors of interest include education, healthcare, business services, federal IT services, media, software, consumer products, logistics, financial services and technologies, and energy. New Mountain Capital was formed in 2000 and is based in New York City.


DEAL STATS #
Overall 32 of 92
Sector (Information Technology) 4 of 16
Type (Secondary Buyout) 9 of 36
State (Georgia) 2 of 7
Country (United States) 28 of 88
Year (2014) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-30 Overland Solutions

Overland Park, Kansas, United States

Overland Solutions, Inc., is a provider of underwriting support services including premium audit, commercial and residential underwriting surveys and outsourced loss control services.

Sell $53M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-18 Diversified Foodservice Supply

Mount Prospect, Illinois, United States

Diversified Foodservice Supply is a distributor of maintenance, repair and operations parts, supplies, and equipment to the U.S. foodservice industry, serving over 250,000 foodservice customer locations. DFSI is uniquely positioned in the industry due to its strength in sourcing high quality parts from both original component and original equipment manufacturers. DFSI currently operates through multiple brands including AllPoints Foodservice Parts & Supplies, Tundra Restaurant Supply, Franklin Machine Products, Mill Hardware, and Restaurant Parts & More. Its brands are consistently recognized as market leaders in service, quality, and value. DFSI has a long track record of strong organic growth complemented by successful acquisitions. These acquisitions have helped to broaden its product offering and geographic footprint, enabling DFSI to provide industry-leading selection and service to its customers.

Buy -
Buyer

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 125 of 222
Sector (Information Technology) 15 of 25
Type (Secondary Buyout) 24 of 55
State (Georgia) 3 of 5
Country (United States) 78 of 133
Year (2014) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-22 National Cardiovascular Partners

Houston, Texas, United States

National Cardiovascular Partners ('NCP') was founded to facilitate the formation of outpatient cardiac cath labs, hospital based cardiovascular programs through physician partnerships and manage the development process to make this dream of complete professional control accessible to groups of cardiologists and surgeons.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-07 Omega Pharma NV

Nazareth, Belgium

Omega Pharma NV is a healthcare company. Omega Pharma provides medicines, health and personal care that can be purchased at the pharmacy.

Sell €3.6B

Seller(S) 2

SELLER

ABRY Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1989
PE ASSETS 12.8B USD
Size Mega
Type Sector Focused
DESCRIPTION

ABRY Partners is a media and communications focused private equity investment firm. Specific areas of interest include television, publishing, convention/trade shows, for-profit training, couponing, monitoring services, telephone companies, communications towers, music libraries, database providers, wireless communications, and in-store advertisers. ABRY can provide both equity and mezzanine capital, typically committing $20 to $200 million of equity or $15 to $50 million of mezzanine capital per transaction. Prospective transaction situations include buyouts, expansion financings, platform acquisitions, consolidations, and recapitalizations. ABRY Partners was formed in 1989 and is headquartered in Boston, Massachusetts.


DEAL STATS #
Overall 48 of 100
Sector (Information Technology) 7 of 22
Type (Secondary Buyout) 13 of 31
State (Georgia) 2 of 4
Country (United States) 44 of 87
Year (2014) 10 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-30 PRO Unlimited

San Francisco, California, United States

PRO Unlimited is a provider of contingent workforce management solutions through a managed services program (“MSP”) and cloud-based vendor management software (“VMS”). PRO Unlimited was founded in 1991 and is based in San Francisco, California

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-11 KORE

Alpharetta, Georgia, United States

KORE is a trusted advisor delivering mission-critical IoT solutions and services. KORE empowers organizations of all sizes to improve operational and business results by simplifying the complexity of IoT. Our deep IoT knowledge and experience, global reach, purpose-built solutions, and deployment agility accelerate and materially impact our customers’ business outcomes. KORE was founded in 2002 and is headquartered in Atlanta, Georgia.

Buy -
SELLER

PennantPark Investment Advisers

Investor Investor Investor Investor Investor

website


Category Lender
Founded 2007
PE ASSETS 6.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

PennantPark is a provider of credit solutions to middle-market private equity sponsors. The Firm looks to provide $10 to $100 million of capital and can support a variety of investment structures. PennantPark was formed in 2007 and is headquartered in New York City.


DEAL STATS #
Overall 1 of 17
Sector (Information Technology) 1 of 2
Type (Secondary Buyout) 1 of 12
State (Georgia) 1 of 1
Country (United States) 1 of 17
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-02-05 Robertshaw Controls

Itasca, Illinois, United States

Robertshaw Controls is a global design, engineering and manufacturing company that sells product solutions into the white goods industry and leverages this portfolio and technology into adjacent markets and after sales channels. Robertshaw manufactures more than 10,000 sophisticated controls for commercial and home appliances. Primary applications include controls for clothes washers and dryers, dishwashers, refrigerators, electric and gas cooking, ice makers, fluid dispensing, storage water heaters, gas valves for space/central heating, and automotive/off road temperature and fluid controls. Robertshaw Global Headquarters is located in Itasca, Illinois.

Buy £150M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-17 RotoMetrics

Eureka, Missouri, United States

RotoMetrics is a manufacturer of precision rotary tooling and related accessories for the converting and printing industries. The Company produces a wide variety of highly engineered, customized rotary tooling products used to perform precision cutting or to create folds in various material substrates.

Buy -