Stake Purchase • Internet Software and Services

Stripes, Spectrum Equity and Aramark Invest In Seamless North America

On June 8, 2011, growth capital firm Stripes, private equity firm Spectrum Equity and Aramark invested in internet software and services company Seamless North America

Investment Context
  • This is Stripes’ 3rd, Spectrum Equity’s 5th and Aramark’s 1st transaction in the Internet Software and Services sector.
  • This is Stripes’ 11th, Spectrum Equity’s 31st and Aramark’s 5th transaction in the United States.
  • This is Stripes’ 5th, Spectrum Equity’s 5th and Aramark’s 2nd transaction in New York.
Investment Fate
  • Seamless North America merged with another company in 2013.

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Investment Summary

Date June 8, 2011
Target Seamless North America
Sector Internet Software and Services
Investor(s) Stripes
Spectrum Equity
Aramark
Deal Type Stake Purchase

Target Company

Seamless North America

New York, New York, United States
Seamless is the leading online food ordering service in the United States. The Company offers consumers and corporations an easy-to-use, web-based platform for ordering meals and catering from over 7,000 restaurants in the U.S. and U.K. Over one million individuals and many of the world’s largest companies have made Seamless their preferred service for online food ordering by placing more than 50 million food orders through the company’s websites. Seamless is headquartered in New York, NY.
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Investors Overview 3

Investor

Stripes

New York, New York, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2008
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Stripes is a private investment firm focused primarily on making minority investments in rapidly growing, private companies. Stripes look to commit $10 to $150 million of equity capital per transaction to support acquisitions, growth equity needs, and provide shareholder liquidity. Target companies generally have high margins and operate in large markets. Sectors of interest include branded consumer products, financial services, medical devices, and technology. Stripes was formed in 2008 and is based in New York, New York.


Deal Context for Investor #
Overall 11 of 49
Sector: Internet Software and Services 3 of 15
Type: Stake Purchase 1 of 3
State: New York 5 of 19
Country: United States 11 of 46
Year: 2011 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-01 Epic Advertising

New York City, New York, United States

Epic Advertising, Inc. is a performance-based online advertising network providing a full suite of advertising tools for both advertisers and publishers, including affiliate marketing and online lead generation services based on the cost-per-action (CPA) model.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-10 eMarketer

New York, New York, United States

eMarketer, Inc. is a provider of high-quality analyses, reports, and digital market data for companies and institutions.

Buy -
Investor

Spectrum Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 8.2B USD
Size Mega
Type Sector Focused
DESCRIPTION

Spectrum Equity Management L.P. is a private equity investor focused on service businesses. Spectrum specifically targets established businesses in the media, communications, IT, information, and business services industries. The Firm looks to commit $25 to $150 million of equity capital per transaction and focuses on opportunities throughout North America and Western Europe. Prospective transaction situations include leveraged buyouts, recapitalizations, acquisition financings, and secondary purchases. Spectrum Equity Investors was formed in 1994 and has offices in Boston, Massachusetts and Menlo Park, California.


Deal Context for Investor #
Overall 37 of 103
Sector: Internet Software and Services 5 of 36
Type: Stake Purchase 5 of 7
State: New York 5 of 16
Country: United States 31 of 90
Year: 2011 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-16 World-Check

London, United Kingdom

World-Check Limited is a provider of risk-related intelligence to the private sector. The company maintains a global database of potential high risk individuals including money launderers, terrorists, fraudsters, and politically exposed persons as well as information on known associates, legal entities and corporations

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-29 Animoto

New York, New York, United States

Animoto is an online video creation service which enables consumers, professionals and businesses to create and share professional-quality videos from user-selected photos, video clips and music. The company offers both a free version of its service and multiple subscription products and is available on the web and mobile devices via Animoto's iPhone app. Animoto was formed in 2005 and is based in New York City.

Buy -
Investor

Aramark

Philadelphia, Pennsylvania, United States

Category Company
Founded 1959
Sector Business Services
Employees262,550
Revenue 17.4B USD (2024)
DESCRIPTION
Aramark supply vehicle in Superior, Wisconsin.
Aramark supply vehicle in Superior, Wisconsin.

Aramark is a professional services company, providing food services, facilities management, and uniform and career apparel to healthcare institutions, universities and school districts, stadiums and arenas, businesses, and government departments and agencies. Aramark was incorporated in 1959 and is headquartered in Philadelphia, Pennsylvania.


Deal Context for Investor #
Overall 7 of 15
Sector: Internet Software and Services 1 of 2
Type: Stake Purchase 1 of 1
State: New York 2 of 3
Country: United States 5 of 10
Year: 2011 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-02-14 Aramark Patman Services Private

Mumbai, India

Aramark Patman Services Private Limited provides catering, housekeeping, laundry, linen, and guesthouse management services. It offers club management, security, soft maintenance, pest control, horticulture, and facility management services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-03 Galls

Lexington, Kentucky, United States

Galls is a distributor of uniforms and equipment to the public safety market. Galls represents the largest distributor of uniform and equipment to public safety personnel, including police, fire, EMS, private security, corrections, federal/military, and postal. Galls services customers through a national catalogue, convenient eCommerce site, more than 50 dedicated sales reps, 80 locations, and its proprietary "eQuip" online solution serving state and local agencies. Each year, more than one million men and women in the public safety, postal and public transportation industries depend on Galls for their essential equipment and apparel. Galls was founded in 1967 and is based in Lexington, Kentucky.

Sell $163M