M&A Deal Summary

ABRY Partners and VSS Capital Partners Acquire Trover Solutions

On January 5, 2011, private equity firms ABRY Partners and VSS Capital Partners acquired software company Trover Solutions from Tailwind

Acquisition Highlights
  • This is ABRY Partners’ 3rd and VSS Capital Partners’ 4th transaction in the Software sector.
  • This is ABRY Partners’ 58th and VSS Capital Partners’ 51st transaction in the United States.
  • This is ABRY Partners’ 1st and VSS Capital Partners’ 1st transaction in Kentucky.
Investment Fate
  • Trover Solutions merged with another company in 2016.

M&A Deal Summary

Date 2011-01-05
Target Trover Solutions
Sector Software
Buyer(s) ABRY Partners
VSS Capital Partners
Sellers(s) Tailwind
Deal Type Secondary Buyout

Target

Trover Solutions

Louisville, Kentucky, United States
Trover Solutions, Inc. is a independent provider of comprehensive cost containment services and software to the private healthcare payor and property and casualty industries. integrated systems and processes.

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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 66 of 175
Sector: Software M&A 3 of 12
Type: Secondary Buyout M&A Deals 9 of 42
State: Kentucky M&A 1 of 1
Country: United States M&A 58 of 145
Year: 2011 M&A 3 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-01 CollegeDegrees.com

Houston, Texas, United States

CMN is an online lead generation company focused on providing high quality, intent-driven leads to the education, telecom and insurance sectors. The Company generates leads through superior content and unique Search Engine Optimization capabilities.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-02-22 Gateway EDI

St. Louis, Missouri, United States

Electronic claims processing provider for over 40,000 physicians nationwide.

Sell -
Buyer

VSS Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

VSS Capital Partners is a private equity firm that targets investments in the media, communications, education, and information services sectors. VSS looks for opportunities with valuable brand franchises, stable cash flows, and infrastructure to support add-ons. The Firm will consider businesses throughout North America and Europe valued between $50 and $750 million. Prospective investment situations include management buyouts/buy-ins, expansion or acquisition financings, recapitalizations, build-ups, going private transactions, and partnerships. VSS was formed in 1987 and is based in New York, New York.


DEAL STATS #
Overall 67 of 99
Sector: Software M&A 4 of 7
Type: Secondary Buyout M&A Deals 6 of 12
State: Kentucky M&A 1 of 1
Country: United States M&A 51 of 79
Year: 2011 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-01 PreVisor

Roswell, Georgia, United States

PreVisor is a new entity formed by the merger of Qwiz, Inc. and ePredix, Inc. The merged company has become a leader in Internet-based pre-employment testing and assessment services in the United States, capable of offering a comprehensive suite of content, applications and consulting services to meet the needs of employers of all sizes and all industries.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-02-22 Red 7 Media

Norwalk, Connecticut, United States

Red 7 Media, Inc. is a producer of content and community for the event industry via Event Marketer, EXPO, Best Events and Event Design magazines.

Sell -

Seller(S) 1

SELLER

Tailwind

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 3.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Tailwind is an independent private equity firm focused on making control investments in companies operating in the healthcare, media/communications, and business services sectors. Tailwind looks to invest $25 to $200 million in profitable businesses valued above $500 million. The Firm seeks companies with proven business models and strong opportunities for growth, either organically or through acquisition. Tailwind Capital was formed in 2003 and is based in New York, New York.


DEAL STATS #
Overall 1 of 33
Sector: Software M&A 1 of 4
Type: Secondary Buyout M&A Deals 1 of 13
State: Kentucky M&A 1 of 1
Country: United States M&A 1 of 33
Year: 2011 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-03 Oceus Networks

Herndon, Virginia, United States

Oceus Networks provides broadband solutions to governments that enable them to deliver high-speed voice, video and data communications to the constituents they serve. Oceus Networks delivers open, standards-based mobile and fixed network infrastructure as well as an extensive portfolio of public sector-focused solutions to simplify and expedite the deployment of wired and wireless broadband communications solutions. As both the expedited manner with which networks are deployed and the improved voice, video and data communications refer to speed, that is the basis of the origination of the company’s name. Oceus Networks was formed in 1991 and is headquartered in Herndon, Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-02-28 Hamilton State Bancshares

Hoschton, Georgia, United States

HSB is a Georgia-based bank holding company that specializes in providing commercial banking services to small- to medium-sized businesses in North Georgia through its bank subsidiary, Hamilton State Bank. Hamilton was formed in 2004 and is based in Hoschton, Georgia, which is approximately 50 miles north of Atlanta.

Buy $232M