Going Private • Internet Software and Services

NewSpring Capital Acquires Smart Destinations

On December 22, 2008, private equity firm NewSpring Capital acquired internet software and services company Smart Destinations for 10M USD

Acquisition Context
  • This is NewSpring Capital’s 2nd transaction in the Internet Software and Services sector.
  • This is NewSpring Capital’s 6th largest (disclosed) transaction.
  • This is NewSpring Capital’s 40th transaction in the United States.
  • This is NewSpring Capital’s 4th transaction in Massachusetts.
Investment Fate
  • Smart Destinations was sold to a strategic buyer in 2016.

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M&A Deal Summary

Date December 22, 2008
Target Smart Destinations
Sector Internet Software and Services
Buyer(s) NewSpring Capital
Deal Type Going Private
Deal Value 10M USD

Target Company

Smart Destinations

Boston, Massachusetts, United States
Smart Destinations helps travelers enjoy more activities in their destinations for less. With both mobile and physical multi-attraction passes, visitors enjoy flexible purchase options, savings of up to 55% off regular admission prices, and the convenience of skipping the line at most popular attractions. Available online and at walk-up retail outlets, Smart Destinations passes, including Go City Cards, Explorer Passes and Go Select Passes, provide admission to more than 400 attractions across nine U.S. destinations
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Buyer Overview 1

Buyer

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 Context for Buyer #
Overall 40 of 201
Sector: Internet Software and Services 2 of 15
Type: Going Private 2 of 2
State: Massachusetts 4 of 17
Country: United States 40 of 197
Year: 2008 9 of 9
Size (of disclosed) 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-11-13 TMG Health

King Of Prussia, Pennsylvania, United States

TMG Health, Inc. is a national provider of Business Process Outsourcing solutions for Medicare Advantage, Medicare Part D and Managed Medicaid plans. With more than 19 years of experience in providing technology-enabled services to the government market exclusively, our knowledge of health plan processes, regulatory requirements, and the daily challenges plans face within the government market is second to none.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-01-13 Prescient Applied Intelligence

West Chester, Pennsylvania, United States

Prescient Applied Intelligence Inc. provides retail supply chain and replenishment solutions. The company offers retailer solutions that include demand signal repository, business intelligence, vendor managed inventory, store level replenishment, scan based trading, data synchronization, collaborative solutions, and computer aided ordering; and supplier solutions, such as demand signal repository, business intelligence, vendor managed inventory, store level replenishment, scan based trading, data synchronization, collaborative solutions, and share data for decision making.

Sell -