IPO • Information Technology

TCV, FTV Capital and Oak Hill Capital Exits ExlService Holdings

On October 19, 2006, invested in information technology company ExlService Holdings from TCV, FTV Capital and Oak Hill Capital

Investment Context
  • This is transaction in the Information Technology sector.
  • This is transaction in the United States.
  • This is transaction in New York.
Investment Fate
  • ExlService Holdings was sold to a strategic buyer in 2018.

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Investment Summary

Date October 19, 2006
Target ExlService Holdings
Sector Information Technology
Sellers(s) TCV
FTV Capital
Oak Hill Capital
Deal Type IPO

Target Company

ExlService Holdings

New York, New York, United States
ExlService Holdings is a business process solutions company that looks deeper to drive business impact through integrated services and industry knowledge. EXL provides operations management, decision analytics and technology platforms to organizations in insurance, healthcare, banking and financial services, utilities, travel, and transportation and logistics, among others. ExlService Holdings was founded in 1999 and is based in New York, New York.
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Seller Profiles 3

SELLER

TCV

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 21.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Technology Crossover Ventures (TCV) is a private equity and venture capital firm focused on investments in growth technology companies. TCV looks to provide capital for growth, recapitalizations, acquisitions, and buyouts of technology companies in sectors such as internet, financial technology, infrastructure & communications, and software. TCV targets opportunities in North America and looks to commit between $10 and $500 million of equity capital per transaction. TCV was formed in 1995 and is based in Palo Alto, New York City, and London.


Deal Context for Seller #
Overall 23 of 84
Sector: Information Technology 4 of 11
Type: IPO 2 of 21
State: New York 2 of 8
Country: United States 20 of 73
Year: 2006 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-08-23 Travelport

Langley, United Kingdom

Travelport is a developer of a travel commerce platform to provide distribution, technology, payment and other solutions for the global travel and tourism industry. The company facilitates travel commerce by connecting the world’s leading travel providers with online and offline travel buyers in a proprietary business-to-business (B2B) travel marketplace. Travelport was founded in 2006 and is based in Langley, United Kingdom.

Buy $4.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-03 SPL WorldGroup

San Francisco, California, United States

SPL WorldGroup, Inc. is a provider of customer management solutions to the energy and service related industries in regulated and competitive markets worldwide.

Sell -
SELLER

FTV Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1998
PE ASSETS 6.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

FTV Capital is a multi-stage private equity firm focused on providing capital to high-growth companies. FTV generally seeks to invest in software, business services, and financial services companies which enable financial institutions to expand and to operate more efficiently. Investment proceeds are typically used to fund rapid organic growth, provide shareholder liquidity, pursue add-on acquisitions, or acquire divestitures. FTV prefers to act as the lead or control investor and targets equity commitments of $10 to $85 million per transaction. FTV Capital was established in 1998 and was formerly known as FTVentures. FTV Capital is based in San Francisco with an additional office in New York City.


Deal Context for Seller #
Overall 8 of 62
Sector: Information Technology 6 of 15
Type: IPO 1 of 5
State: New York 2 of 8
Country: United States 8 of 55
Year: 2006 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-07-28 Intrepid Learning Solutions

Seattle, Washington, United States

Intrepid Learning Solutions, Inc. is a SaaS platform empowers organizations to solve critical business challenges with cost-effective, easily configurable solutions that scale massively, connect learning to everyday work, and provide an integrated social and mobile-first learning experience. Intrepid Learning Solutions, Inc. was established in 1999 and is based in Seattle, Washington.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-10-20 WisdomTree

London, United Kingdom

WisdomTree develops and distributes specialized exchange-traded commodities which include the WisdomTree UCITS Exchange Traded Funds (ETF), ETF Securities ETPs, and Boost ETP ranges. WisdomTree was founded in 2003 and is based in London, United Kingdom.

Buy -
SELLER

Oak Hill Capital

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 9.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Oak Hill Capital Partners was originally formed as the private equity investment vehicle for Robert Bass and in 1999, opened up to outside investors and raised its first private equity fund. Oak Hill looks to invest in middle-market companies and focuses its efforts within six industry groups. The six groups include basic industries; business and financial services; consumer, retail, and distribution; healthcare; media and telecom; and technology. Oak Hill targets businesses with defensible business models, strong market positions, and 'best-in-class' management. Oak Hill Capital was formed in 1986 and has offices in Stamford, Connecticut; Menlo Park, California; and New York City.


Deal Context for Seller #
Overall 10 of 56
Sector: Information Technology 1 of 7
Type: IPO 3 of 10
State: New York 1 of 3
Country: United States 8 of 47
Year: 2006 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-10-06 RSC Equipment Rental

Scottsdale, Arizona, United States

RSC Equipment Rental serves as a vital and trusted partner for thousands of customers in construction, industrial, petrochemical, governmental, and manufacturing businesses across the United States and Canada.

Buy $3.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-10-20 Arnold Logistics

Camp Hill, Pennsylvania, United States

Arnold Logistics is a provider of supply chain management and distribution solutions to some of America's most prestigious companies. Arnold Logistics was founded in 1976 and is based in Camp Hill, Pennsylvania.

Buy -