M&A Deal Summary |
|
|---|---|
| Date | 2023-10-24 |
| Target | Horizon |
| Sector | Communications |
| Buyer(s) | Shenandoah Telecommunication |
| Sellers(s) |
Novacap
HarbourVest Partners Bregal Sagemount GCM Grosvenor |
| Deal Type | Add-on Acquisition |
| Deal Value | 385M USD |
| Advisor(s) | The Bank Street Group LLC (Financial) Baker Botts LLP (Legal) |
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| Category | Company |
|---|---|
| Founded | 1902 |
| Sector | Communications |
| Employees | 1,139 |
| Revenue | 267M USD (2022) |
Shenandoah Telecommunication is a diversified telecommunications holding company, provides both regulated and unregulated telecommunications services to end-user customers and other telecommunications providers in Virginia, West Virginia, central Pennsylvania, and western Maryland. Shenandoah Telecommunication was founded in 1902 and is based in Edinburg, Virginia.
| DEAL STATS | # |
|---|---|
| Overall | 6 of 6 |
| Sector (Communications) | 5 of 5 |
| Type (Add-on Acquisition) | 5 of 5 |
| State (Ohio) | 1 of 1 |
| Country (United States) | 6 of 6 |
| Year (2023) | 1 of 1 |
| Size (of disclosed) | 2 of 4 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2021-02-02 |
Shenandoah Telecommunication - Wireless Assets
Edinburgh, Virginia, United States Shentel’s Wireless Assets provides wireless services to customers in the Mid-Atlantic United States. |
Sell | $2.0B |
| Category | Private Equity Firm |
|---|---|
| Founded | 1981 |
| PE ASSETS | 8.0B CAD |
| Size | Mega |
| Type | Sector Agnostic |
Novacap is a large private equity firm focused on middle-market company acquisitions in Canada. Novacap pursues companies with $30 to $500 million in sales and will consider transactions valued up to $500 million. Target transaction situations include partial or full buyouts, spin-offs, take privates, recapitalizations, and growth capital financings. Novacap will consider opportunities in basic industries as well as high-growth tech sectors. Novacap was formed in 1981 and has offices in Toronto and Montreal.
| DEAL STATS | # |
|---|---|
| Overall | 24 of 27 |
| Sector (Communications) | 1 of 1 |
| Type (Add-on Acquisition) | 10 of 11 |
| State (Ohio) | 1 of 1 |
| Country (United States) | 9 of 9 |
| Year (2023) | 1 of 2 |
| Size (of disclosed) | 2 of 6 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2023-08-09 |
Cadent
New York, New York, United States Cadent is a media services company that aggregates local cable television advertising inventory for resale to national advertisers. Cadent was formed in 2007 and is based in New York, New York. |
Buy | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2023-11-27 |
Optiom
Calgary, Alberta, Canada Optiom is a specialty insurance managing general underwriter ("MGU") and provider of vehicle replacement coverage. Optiom takes pride in a strong reputation for providing professional and dependable administration of specialty vehicle replacement insurance and guarantee programs across Canada. Optiom is based in Calgary, Alberta. |
Sell | £100M |
| Category | Private Equity Firm |
|---|---|
| Founded | 1978 |
| PE ASSETS | 86.0B USD |
| Size | Mega |
| Type | Sector Agnostic |
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 127 |
| Sector (Communications) | 11 of 11 |
| Type (Add-on Acquisition) | 53 of 55 |
| State (Ohio) | 2 of 2 |
| Country (United States) | 80 of 81 |
| Year (2023) | 4 of 5 |
| Size (of disclosed) | 33 of 38 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2023-07-05 |
Towne Park
Annapolis, Maryland, United States Towne Park is a provider of contracted hospitality services and parking systems nationwide. Towne Park was founded in 1988 and is based in Annapolis, Maryland. |
Sell | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2023-11-22 |
EA Pharma
Vallauris, France EA Pharma is a pharmaceutical company specialized in production and distribution of drugs, food supplements, and cosmetics. EA Pharma was formed in 2006 and is based in Vallauris, France. |
Sell | - |
| Category | Growth Capital Firm |
|---|---|
| Founded | 2012 |
| PE ASSETS | 1.7B USD |
| Size | Large |
| Type | Sector Agnostic |
Bregal Sagemount is a growth-focused private capital firm. The Firm provides flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations. Bregal Sagemount invests $8 to $150 million per transaction in a variety of sectors including software, digital infrastructure, healthcare IT, healthcare services, business and consumer services, financial technology, and specialty finance. Bregal Sagemount was formed in 2012 and is headquartered in New York City.
| DEAL STATS | # |
|---|---|
| Overall | 33 of 34 |
| Sector (Communications) | 2 of 2 |
| Type (Add-on Acquisition) | 15 of 16 |
| State (Ohio) | 3 of 3 |
| Country (United States) | 31 of 32 |
| Year (2023) | 1 of 1 |
| Size (of disclosed) | 2 of 6 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2023-09-12 |
Bradford
Houston, Texas, United States Bradford focuses on airport logistics within the global aviation industry. The company's turnkey services include technology, security, supply chain management, and consultancy. It currently operates twenty-two airport contracts in the U.S. and a joint venture at London Heathrow in the UK for the operations of CRDCs. Bradford was formed in 2000 and is based in Houston, Texas. |
Buy | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2024-04-02 |
Connectria
St. Louis, Missouri, United States Connectria is a provider of cloud hosting, cloud-managed services, cloud security, and cloud management software. Connectria was founded in 1996 and is based in St. Louis, Missouri. |
Sell | - |
| Category | Company |
|---|---|
| Founded | 1971 |
| Sector | Financial Services |
| Employees | 492 |
| Revenue | 430M USD (2020) |
GCM Grosvenor is a large and diversified independent alternative asset management firm. The Company offers comprehensive public and private markets solutions and a broad suite of investment and advisory choices that span hedge funds, private equity, and various credit and specialty strategies. GCM Grosvenor specializes in developing customized investment programs tailored to each client’s specific investment goals. GCM Grosvenor was founded in 1971 and is based in Chicago, Illinois.
| DEAL STATS | # |
|---|---|
| Overall | 1 of 1 |
| Sector (Communications) | 1 of 1 |
| Type (Add-on Acquisition) | 1 of 1 |
| State (Ohio) | 1 of 1 |
| Country (United States) | 1 of 1 |
| Year (2023) | 1 of 1 |
| Size (of disclosed) | 1 of 1 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2022-07-05 |
Hallcon
Chicago, Illinois, United States Hallcon is a provider of mission-critical transportation services and infrastructure for a broad range of customers including railroads, universities, airports, hospitals and healthcare systems, public transit, technology, industrial companies, and other large employers seeking custom transportation solutions. Hallcon was founded in 1946 and is based in Chicago, Illinois. |
Buy | - |
