M&A Deal Summary

Activant Solutions Acquires Prophet 21

On September 1, 2005, Activant Solutions acquired software company Prophet 21 from Thoma Bravo and LLR Partners

Acquisition Highlights
  • This is Activant Solutions’ 1st transaction in the Software sector.
  • This is Activant Solutions’ 1st transaction in the United States.
  • This is Activant Solutions’ 1st transaction in Pennsylvania.

M&A Deal Summary

Date 2005-09-01
Target Prophet 21
Sector Software
Buyer(s) Activant Solutions
Sellers(s) Thoma Bravo
LLR Partners
Deal Type Add-on Acquisition

Target

Prophet 21

Yardley, Pennsylvania, United States
Prophet 21, Inc. is a provider of enterprise software and services to the durable goods distribution market.

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Buyer(S) 1

Buyer

Activant Solutions

Livermore, California, United States

Category Company
Founded 1972
Sector Software
DESCRIPTION

Activant Solutions Inc. is a technology provider of business management solutions serving mid-market retails and distributors. Activant provides customers with industry-specific software, professional services, content, supply chain connectivity, and analytics. Activant’s systems are designed to help customers increase sales, boost productivity, operate more cost-efficiently, improve inventory turns and enhance trading partner relationships. Activant has operations in California, Texas, Colorado, Illinois, Pennsylvania, South Carolina, Canada, Ireland and the United Kingdom.


DEAL STATS #
Overall 1 of 2
Sector (Software) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (Pennsylvania) 1 of 1
Country (United States) 1 of 2
Year (2005) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-17 Eclipse

Connecticut, United States

Eclipse is a provider of business management software solutions for wholesale distributors in a number of market segments, including plumbing-heating-cooling-piping, electrical, building materials, industrial, janitorial and floor coverings.

Buy $100M

Seller(S) 2

SELLER

Thoma Bravo

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1980
PE ASSETS 127.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thoma Bravo is a private equity firm that primarily invests in or acquires US-based middle-market businesses. While Thoma Bravo will consider a variety of transaction situations, including take-privates, buyouts, carve-outs, recapitalizations, and growth equity financings, the Firm has a special interest in tech consolidation opportunities. Target companies generally have a history of profitability with EBITDA of at least $20 million. The Firm's equity commitment size range is $100 to $750 million. Sectors of interest include enterprise and infrastructure software, education, distribution, financial services and consumer goods/services. The Firm will not invest in new inventions or technologies, developmental products or services, start-ups, biotech, motion pictures, distressed businesses, oil/gas, or real estate. Thoma Bravo was formerly known as Thoma Cressey Bravo and before that Golder Thoma & Co. The Firm was originally formed in 1980 and is based in Chicago, Illinois.


DEAL STATS #
Overall 3 of 79
Sector (Software) 1 of 33
Type (Add-on Acquisition) 2 of 36
State (Pennsylvania) 2 of 5
Country (United States) 3 of 73
Year (2005) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-04-18 Attachmate

Seattle, Washington, United States

Attachmate Corp. is a provider of advanced software for terminal emulation, legacy modernization, managed file transfer and enterprise fraud management.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-03 Activant Solutions

Livermore, California, United States

Activant Solutions Inc. is a technology provider of business management solutions serving mid-market retails and distributors. Activant provides customers with industry-specific software, professional services, content, supply chain connectivity, and analytics. Activant’s systems are designed to help customers increase sales, boost productivity, operate more cost-efficiently, improve inventory turns and enhance trading partner relationships. Activant has operations in California, Texas, Colorado, Illinois, Pennsylvania, South Carolina, Canada, Ireland and the United Kingdom.

Buy -
SELLER

LLR Partners

Philadelphia, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

LLR is a private equity firm that makes growth capital, buyout, and recapitalization investments in mid-sized growth companies with sustainable competitive advantages. LLR looks to invest $30 to $150 million per transaction and will consider both control and minority situations. Target companies generally have at least $10 million in annual sales and are valued up to $250 million. Broad industry sectors of interest include general business services, financial services, healthcare services, education, manufacturing, consumer/retail and information technology/software. LLR will consider investments throughout the US with an emphasis on opportunities located in the Eastern and Mid-Atlantic regions of the US. LLR Partners was formed in 1999 and is based in Philadelphia, Pennsylvania.


DEAL STATS #
Overall 6 of 76
Sector (Software) 2 of 15
Type (Add-on Acquisition) 4 of 47
State (Pennsylvania) 4 of 20
Country (United States) 6 of 75
Year (2005) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-12 Enclara Pharmacia

Philadelphia, Pennsylvania, United States

Enclara Pharmacia, Inc. is a solutions provider focused on simplifying care delivery in chronic and complex care patient populations to improve patient experience, quality, and cost. We collaborate with healthcare organizations to drive value-based care through expertise, process, and technology.

Sell $269M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-01 Healthcare Finance Group

New York City, New York, United States

Healthcare Finance Group is a specialty finance company that provides revolving credit facilities and term loans to healthcare providers. HFG targets middle-market healthcare service providers, generally requiring credit facilities of $5.0 million to $50.0 million.

Buy -