M&A Deal Summary

11:11 Systems Acquires Green Cloud Defense

On October 5, 2021, 11:11 Systems acquired internet software and services company Green Cloud Defense from Spring Capital Partners

Acquisition Highlights
  • This is 11:11 Systems’ 1st transaction in the Internet Software and Services sector.
  • This is 11:11 Systems’ 1st transaction in the United States.
  • This is 11:11 Systems’ 1st transaction in South Carolina.

M&A Deal Summary
Date 2021-10-05
Target Green Cloud Defense
Sector Internet Software and Services
Buyer(s) 11:11 Systems
Sellers(s) Spring Capital Partners
Deal Type Add-on Acquisition
Advisor(s) Q Advisors LLC (Financial)

Target

Green Cloud Defense

Greenville, South Carolina, United States
Green Cloud Defense's headquarters in Greenville, South Carolina.
Green Cloud Defense's headquarters in Greenville, South Carolina.
Green Cloud Defense is an independent channel-only cloud Infrastructure-as-a-Service (IaaS) provider. Green Cloud Defense is based in Greenville, South Carolina.

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Buyer(S) 1

Buyer

11:11 Systems

Fairfield, New Jersey, United States
Category Company
Sector Information Technology
DESCRIPTION

11:11 Systems is an integrated, fully automated. All services, activities, data, and performance, powered on a single platform. 11:11 Systems is based in Fairfield, New Jersey.

DEAL STATS #
Overall 1 of 6
Sector (Internet Software and Services) 1 of 4
Type (Add-on Acquisition) 1 of 3
State (South Carolina) 1 of 1
Country (United States) 1 of 6
Year (2021) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-15 iland

Houston, Texas, United States

iland is a global cloud service provider and industry-recognized leader of secure and compliant hosting for infrastructure (IaaS), disaster recovery (DRaaS), and backup as a service (BaaS). iland’s award-winning iland Secure Cloud Console natively combines deep layered security, predictive analytics, and compliance to deliver unmatched visibility and ease of management for all of iland’s cloud services. iland is based in Houston, Texas.

Buy -

Seller(S) 1

SELLER

Spring Capital Partners

Lutherville, Maryland, United States

Investor Investor

Category Mezzanine Finance Firm
Founded 1999
PE ASSETS 600M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Spring Capital Partners is a mezzanine finance provider for small to medium-sized businesses. Spring invests $2 to $20 million, primarily in the form of subordinated debt with equity features in each transaction. The Firm does not have an industry focus. Spring Capital looks for businesses located in the Mid-Atlantic US with revenues between $10 and $150 million. Spring Capital Partners was formed in 1999 and has offices in Baltimore, Maryland and Radnor, Pennsylvania.

DEAL STATS #
Overall 25 of 25
Sector (Internet Software and Services) 3 of 3
Type (Add-on Acquisition) 18 of 18
State (South Carolina) 1 of 1
Country (United States) 25 of 25
Year (2021) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-24 PirTano

Addison, Illinois, United States

PirTano is a multi-dimensional construction company that provides underground utilities, roads, and site development as a full-service prime contractor for residential home builders, commercial developers, municipalities, departments of transportation, and tollway authorities. PirTano was founded in 1982 and is based in Addison, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-07 Catalina Finer Foods

Tampa, Florida, United States

Catalina Finer Foods is a manufacturer of authentic Cuban and Caribbean cuisine including varieties of croquettes, stuffed potato balls, tamales, stuffed cassava, and other ancillary products. Catalina Finer Foods was founded in 1974 and is based in Tampa, Florida.

Buy -
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