M&A Deal Summary

SkyKnight Capital and Dragoneer Investment Group Acquire Simplicity Group

On August 8, 2024, private equity firms SkyKnight Capital and Dragoneer Investment Group acquired business services company Simplicity Group from Lee Equity Partners and Twin Bridge Capital Partners

Acquisition Highlights
  • This is SkyKnight Capital’s 3rd and Dragoneer Investment Group’s 1st transaction in the Business Services sector.
  • This is SkyKnight Capital’s 14th and Dragoneer Investment Group’s 6th transaction in the United States.
  • This is SkyKnight Capital’s 1st and Dragoneer Investment Group’s 1st transaction in New Jersey.

M&A Deal Summary

Date 2024-08-08
Target Simplicity Group
Sector Business Services
Buyer(s) SkyKnight Capital
Dragoneer Investment Group
Sellers(s) Lee Equity Partners
Twin Bridge Capital Partners
Deal Type Secondary Buyout
Advisor(s) Dentons (Legal)

Target

Simplicity Group

Summit, New Jersey, United States
Simplicity Group is a financial product distribution firm focused on retirement planning solutions through a combination of annuity, life insurance, and securities products. Simplicity Group was founded in 2008 and is based in Summit, New Jersey.

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Buyer(S) 2

DESCRIPTION

SkyKnight Capital is a private equity firm focused on long-term investments in businesses requiring value-add strategies to achieve growth. SkyKnight will consider majority or minority investment situations and generally looks to commit $25 to $250 million per transaction. Sectors of interest include healthcare, financial services, and tech-enabled services. SkyKnight is headquartered in San Francisco, California.


DEAL STATS #
Overall 14 of 14
Sector (Business Services) 3 of 3
Type (Secondary Buyout) 3 of 3
State (New Jersey) 1 of 1
Country (United States) 14 of 14
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-11 Ampirical

Covington, Louisiana, United States

Ampirical is a provider of engineering services and software for the power end market. The Company provides a comprehensive suite of services, including transmission and distribution line, substation, and protective relay design engineering, along with cyber engineering and software solutions through Cybirical and GridIntel. Ampirical was founded in 2006 and is based in Covington, Louisiana.

Buy -
DESCRIPTION

Dragoneer Investment Group is a growth-oriented investor in public and private companies throughout the US. Dragoneer Investment Group was established in 2012 and is headquartered in San Francisco, California.


DEAL STATS #
Overall 9 of 9
Sector (Business Services) 1 of 1
Type (Secondary Buyout) 2 of 2
State (New Jersey) 1 of 1
Country (United States) 6 of 6
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-13 Core Specialty Insurance

Cincinnati, Ohio, United States

Core Specialty Insurance offers a diversified range of property and casualty insurance products for small to midsized businesses. Core Specialty Insurance is based in Cincinnati, Ohio.

Sell -

Seller(S) 2

SELLER

Lee Equity Partners

New York, New York, United States

Category Private Equity Firm
Founded 2006
PE ASSETS 4.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Lee Equity Partners is a private investment firm that looks for buyout and growth capital investments across a range of industries. Lee Equity Partners seeks investments requiring $50 to $150 million of equity capital. Lee Equity Partners was formed in 2006 by Thomas H. Lee, formerly of Thomas H. Lee Partners, LP.


DEAL STATS #
Overall 16 of 17
Sector (Business Services) 2 of 2
Type (Secondary Buyout) 9 of 9
State (New Jersey) 2 of 2
Country (United States) 15 of 16
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-10 Axis Insurance Managers

Vancouver, British Columbia, Canada

Axis Insurance Managers provides local, national, and international clients with risk management and insurance services with a focus on specialized risks. Axis Insurance Managers is based in Vancouver, British Columbia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-01 Atria Wealth Solutions

New York, New York, United States

Atria Wealth Solutions is a modern wealth management solutions holding company designed specifically for advisors and their clients. Atria’s core mission is to empower its subsidiaries’ financial advisors with a next generation set of tools, services and capabilities that support their growth and enable them to prosper in a digitally connected and constantly evolving financial environment. Atria Wealth Solutions is based in New York City.

Sell -
SELLER

Twin Bridge Capital Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 2.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Twin Bridge Capital Partners, LLC is a private equity firm focused on small and middle-market buyout funds and co-investments. The firm seeks to invest in leveraged buyout funds and non-control equity co-investments across multiple industries. Twin Bridge has raised more than $2.5 billion in the capital since its founding in 2005. The Firm looks for opportunities valued from $100 to $1000 million. Twin Bridge Capital Partners was founded in 2005 and is based in Chicago, Illinois.


DEAL STATS #
Overall 2 of 2
Sector (Business Services) 1 of 1
Type (Secondary Buyout) 2 of 2
State (New Jersey) 1 of 1
Country (United States) 2 of 2
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-16 Infobase

Wilmington, Delaware, United States

Infobase is a provider of cloud-based educational solutions, integrating content, tools, and technology to foster lifelong learning and deliver interactive learning experiences. Infobase was founded in 1941 and is based in Wilmington, Delaware.

Buy -