M&A Deal Summary

ABRY Partners and HarbourVest Partners Acquire SambaSafety

On April 6, 2016, private equity firms ABRY Partners and HarbourVest Partners acquired internet software and services company SambaSafety from TPE Boulder, Main Street Capital and Iron Creek Partners

Acquisition Highlights
  • This is ABRY Partners’ 8th and HarbourVest Partners’ 7th transaction in the Internet Software and Services sector.
  • This is ABRY Partners’ 96th and HarbourVest Partners’ 87th transaction in the United States.
  • This is ABRY Partners’ 5th and HarbourVest Partners’ 3rd transaction in Colorado.
Investment Fate
  • SambaSafety was sold to a consortium of financial buyers in 2021.

M&A Deal Summary

Date 2016-04-06
Target SambaSafety
Sector Internet Software and Services
Buyer(s) ABRY Partners
HarbourVest Partners
Sellers(s) TPE Boulder
Main Street Capital
Iron Creek Partners
Deal Type Recapitalization

Target

SambaSafety

Greenwood Village, Colorado, United States
SambaSafety is a provider of Driver Risk Management (DRM) services and Motor Vehicle Records (MVRs) to every industry. SambaSafety’s innovative Software as a Service (SaaS) solutions provide driver risk technology and information to employers, insurance, background screeners and fleet management companies. SambaSafety solutions provide the insights insurance carriers need to accurately price risk throughout the policy lifecycle. SambaSafety was founded in 1998 and is based in Greenwood Village, Colorado.

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Buyer(S) 2

Buyer

ABRY Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 12.8B USD
Size Mega
Type Sector Focused
DESCRIPTION

ABRY Partners is a media and communications focused private equity investment firm. Specific areas of interest include television, publishing, convention/trade shows, for-profit training, couponing, monitoring services, telephone companies, communications towers, music libraries, database providers, wireless communications, and in-store advertisers. ABRY can provide both equity and mezzanine capital, typically committing $20 to $200 million of equity or $15 to $50 million of mezzanine capital per transaction. Prospective transaction situations include buyouts, expansion financings, platform acquisitions, consolidations, and recapitalizations. ABRY Partners was formed in 1989 and is headquartered in Boston, Massachusetts.


DEAL STATS #
Overall 109 of 175
Sector: Internet Software and Services M&A 8 of 14
Type: Recapitalization M&A Deals 10 of 15
State: Colorado M&A 5 of 7
Country: United States M&A 96 of 145
Year: 2016 M&A 5 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-06 Edgile

Austin, Texas, United States

Edgile is a transformational cybersecurity consulting provider that focuses on risk and compliance, information and cloud security, and digital identity. Edgile was founded in 2001 and is based in Austin, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-09 Emerging Markets Communications

Miramar, Florida, United States

Emerging Markets Communications LLC is specializes in mission-critical communications and content for organizations and people on the move in the most remote locations.

Sell $550M
Buyer

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 147.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

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 141 of 214
Sector: Internet Software and Services M&A 7 of 14
Type: Recapitalization M&A Deals 8 of 11
State: Colorado M&A 3 of 4
Country: United States M&A 87 of 130
Year: 2016 M&A 5 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-06 Solace Systems

Ottawa, Ontario, Canada

Solace Systems provides market-leading technology for real-time, event-based movement of data. Solace’s proprietary ‘event mesh’ platform securely and reliably moves event data into, out of, and across enterprise applications. Solace Systems was founded in 2001 and is based in Ottawa, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-05 Claritev

McLean, Virginia, United States

Claritev is a provider of technology-enabled healthcare cost management solutions. Claritev provides a single gateway to a host of analytics- and network-based solutions for managing the financial risks associated with medical claims, as well as solutions that improve payment integrity by resolving waste, abuse, and fraud before payments are made. Claritev was founded in 1980 and is based in McLean, Virginia.

Buy -

Seller(S) 3

SELLER

TPE Boulder

Braintree, Massachusetts, United States

Category Private Equity Firm
Founded 1997
PE ASSETS 200M USD
Size Small
Type Sector Agnostic
DESCRIPTION

TPE Boulder is a private equity firm focused on small buyout and growth equity investments in profitable healthcare and software companies. TPE will consider minority or control positions and targets companies with $5 to $40 million in revenue and at least $2 million of EBITDA. Specific areas of interest include healthcare services, healthcare IT, healthcare payment management systems, enterprise software, SaaS, and Internet B2B companies. TPE Boulder was formed in 1997 and has offices in Braintree, Massachusetts, and Boulder, Colorado.


DEAL STATS #
Overall 19 of 25
Sector: Internet Software and Services M&A 2 of 3
Type: Recapitalization M&A Deals 1 of 1
State: Colorado M&A 1 of 1
Country: United States M&A 19 of 25
Year: 2016 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-09 Memorial MRI and Diagnostic

Houston, Texas, United States

Memorial MRI & Diagnostic is a provider of outpatient diagnostic imaging services in the Houston market. It is a provider of diagnostic imaging services including MRI, CT or CAT scan, nuclear medicine, ultrasound, digital X-ray, digital mammography, dual energy X-ray or DEXA, pain management and other radiology services. Memorial MRI and Diagnostic is based in Houston, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-25 Synteract

Carlsbad, California, United States

Synteract, Inc. is an operator of a full-service international contract research organization (CRO) focused on Phase I‐IV clinical trials for emerging to mid-sized biopharma clients in the U.S., Europe, and Asia. Synteract was founded in 1995 and is based in Carlsbad, California.

Sell -
SELLER

Main Street Capital

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Main Street Capital Holdings is a public investment firm that invests in mid-market companies to support ownership transitions, recapitalizations, strategic acquisitions, business expansion and other growth initiatives. Main Street looks for businesses opearting in basic industries with positive cash-flow and and defensible competitive advantages. Main Street generally invests $5 to $75 million in companies with $10 to $150 million of revenue and EBITDA of $3 to $20 million. Investments are usually in the form of term debt and/or direct equity. Main Street Capital Corporation was formed in 1997 and is based in Houston, Texas.


DEAL STATS #
Overall 24 of 48
Sector: Internet Software and Services M&A 1 of 2
Type: Recapitalization M&A Deals 2 of 4
State: Colorado M&A 4 of 7
Country: United States M&A 24 of 48
Year: 2016 M&A 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-17 East West Copolymer

Baton Rouge, Louisiana, United States

East West Copolymer LLC is a manufacturer and supplier of synthetic rubber to a broad base of customers across the industrial and tire markets. East West Copolymer is based in Baton Rouge, Louisiana.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-15 CapFusion

Prairie Village, Kansas, United States

CapFusion LLC is a provider of short-term capital to established small businesses across the United States and utilizes a proprietary, technology-based lending platform that allows it to quickly determine credit risk, assess a client's needs, and fund a loan shortly after receiving a completed application from a client. CapFusion was formed in 2013 and is based in Prairie Village, Kansas.

Buy -
SELLER

Iron Creek Partners

Investor


Category Private Equity Firm
Founded 2009
PE ASSETS 200M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Iron Creek Partners is a private investment partnership focused on partnering with management teams to pursue divestitures, fundless sponsor acquisitions, and select public market investments. Iron Creek Partners was formed in 2009 and is headquartered in Santa Fe, New Mexico.


DEAL STATS #
Overall 3 of 4
Sector: Internet Software and Services M&A 1 of 1
Type: Recapitalization M&A Deals 1 of 1
State: Colorado M&A 1 of 1
Country: United States M&A 3 of 4
Year: 2016 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-15 Inventus Solutions

Chicago, Illinois, United States

Inventus Solutions, Inc. is a provider of eDiscovery and litigation support services focused on streamlining data processing and review via a suite of bundled, best-of-breed technologies.

Sell $232M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-17 SlickText

Jamestown, New York, United States

SlickText provides application-to-person (A2P) software solutions offering marketing and customer engagement tools via a SaaS platform. Its platform enables organizations across industries in the United States and Canada to communicate with customers through automated text messaging. SlickText was founded in 2011 and is based in Jamestown, New York.

Buy -