M&A Deal Summary

Accel-KKR Acquires FastSpring

On February 14, 2018, private equity firm Accel-KKR acquired internet software and services company FastSpring from TPE Boulder

Acquisition Highlights
  • This is Accel-KKR’s 7th transaction in the Internet Software and Services sector.
  • This is Accel-KKR’s 41st transaction in the United States.
  • This is Accel-KKR’s 7th transaction in California.

M&A Deal Summary
Date 2018-02-14
Target FastSpring
Sector Internet Software and Services
Buyer(s) Accel-KKR
Sellers(s) TPE Boulder
Deal Type Secondary Buyout
Advisor(s) Raymond James - Investment Banking (Financial)

Target

FastSpring

Santa Barbara, California, United States
FastSpring is a provider of website development, digital marketing, and payment facilitation for digital goods providers. FastSpring was established in 2005 and is based in Santa Barbara, California.

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Buyer(S) 1

Buyer

Accel-KKR

Menlo Park, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 19.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Accel-KKR is a private equity firm that seeks control and growth-oriented investments in middle-market technology companies. The Firm targets investments in public and private companies with revenues ranging from $15 to $150 million. Accel-KKR pursues transactions across multiple segments of the technology industry, including software, hardware and internet technologies, and IT enabled services. Accel-KKR's first fund was created in 2000 by Accel Partners and Kohlberg Kravis Roberts & Co. to invest in technology assets and businesses that were outside of each firm's core focus. Accel-KKR is based in Menlo Park, California.

DEAL STATS #
Overall 55 of 117
Sector (Internet Software and Services) 7 of 33
Type (Secondary Buyout) 6 of 18
State (California) 7 of 11
Country (United States) 41 of 81
Year (2018) 2 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-04 I-Med

Santiago, Chile

I-Med is an online, digital health platform. I-Med securely integrates the processes of all the different constituents that participate in Chilean healthcare market, generating agile, simple and patient-centered healthcare for millions of Chileans. Pioneers in the digital transformation of Chilean healthcare system, I-Med’s online platform processes hundreds of millions of transactions annually connecting insurance providers, physicians and patients to allow for identity and insurance verification in a simple, efficient and secure manner. I-Med is based in Santiago, Chile.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-07 Kantata

London, United Kingdom

Kantata is a SaaS-based software built on salesforce platform, enables professional services firms to manage their businesses, delivering efficiency, scalability, and forward visibility. Kimble provides users with real-time information to help identify underlying business issues, Kimble is the first PSA software to integrate augmented intelligence into its analytics, allowing customers to identify patterns in performance data and recommending likely remedies. Kantata was founded in 2010 and is based in London, United Kingdom.

Buy -

Seller(S) 1

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 $4 to $40 million in revenue and at least $1.5 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 21 of 23
Sector (Internet Software and Services) 3 of 3
Type (Secondary Buyout) 5 of 6
State (California) 7 of 8
Country (United States) 21 of 23
Year (2018) 1 of 1
PREVIOUS 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 -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-01 LexShares

Boston, Massachusetts, United States

LexShares is a technology platform for litigation finance, with an innovative approach to originating and financing high-value commercial legal claims. LexShares was founded in 2014 and is based in Boston, Massachusetts.

Buy -
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