M&A Deal Summary

Advent International Acquires Encora

On December 21, 2021, private equity firm Advent International acquired information technology company Encora from Warburg Pincus

Acquisition Highlights
  • This is Advent International’s 28th transaction in the Information Technology sector.
  • This is Advent International’s 95th transaction in the United States.
  • This is Advent International’s 1st transaction in Arizona.

M&A Deal Summary
Date 2021-12-21
Target Encora
Sector Information Technology
Buyer(s) Advent International
Sellers(s) Warburg Pincus
Deal Type Secondary Buyout

Target

Encora

Scottsdale, Arizona, United States
Encora is a global digital engineering services company specializing in software product development services for fast-growing enterprises and digitally native companies whose market position and growth are driven by proprietary software products. Encora is based in Scottsdale, Arizona.

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Buyer(S) 1

Buyer

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1984
PE ASSETS 76.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 313 of 339
Sector (Information Technology) 28 of 32
Type (Secondary Buyout) 49 of 53
State (Arizona) 1 of 1
Country (United States) 95 of 100
Year (2021) 17 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-22 Caldic

Rotterdam, Netherlands

Caldic is a global premium provider of value-added life sciences and specialty chemicals solutions with the ambition to be a true partner to its customers and principals. Caldic's product portfolio includes innovative food ingredients, natural products, and functional solutions for a variety of life sciences and industrial end-market segments. Caldic was founded in 1970 and is based in Rotterdam, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-14 ASK Group

Mumbai, India

ASK Group is an equity portfolio management service provider, a leading real estate investment manager, and one of the country’s top wealth managers. ASK manages assets of over Rs. 29,480 crore (US$4.4 billion) across seven offices in India and has offices in Dubai and Singapore, catering to its international investor base. ASK Group was founded in 1983 and is based in Mumbai, India.

Sell -

Seller(S) 1

SELLER

Warburg Pincus

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1966
PE ASSETS 83.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Warburg Pincus is a mega-sized, global private equity firm focused on investment opportunities across North America, Asia, and Europe. Warburg will consider investing at various company stages, from early-stage opportunities to distressed situations. Warburg Pincus is organized by industry groups. Verticals include financial services, healthcare, technology, media & telecommunications, energy, consumer & industrial, and real estate. Within financial services, Warburg will consider asset/wealth managers, banks, exchanges, financial technology, insurance, transaction processing, private banking, and specialty/consumer finance. Within healthcare, specific areas of interest include medical devices, healthcare services, and biotech/pharmaceuticals. Within technology/media/communications, Warburg targets software, media/internet/information, financial technology, telecom, business services, and systems/semiconductors. Within energy, specific areas of interest include oil/gas exploration, power generation/transmission, and alternative energy. Warburg Pincus raised its first fund in 1966 and is based in New York City.

DEAL STATS #
Overall 228 of 251
Sector (Information Technology) 11 of 12
Type (Secondary Buyout) 37 of 42
State (Arizona) 3 of 3
Country (United States) 125 of 137
Year (2021) 22 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-16 NewEase China

Shanghai, China

NewEase China is an investor and operator of hubs and comprehensive platforms for urban logistics infrastructure, which provides time- and cost-efficient one-stop operation by focusing its investment in airport hubs and neighboring city facilities. NewEase China is based in Shanghai, China.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-01 Claroty

New York, New York, United States

Claroty empowers organizations to secure cyber-physical systems across industrial (OT), healthcare (IoMT), and enterprise (IoT) environments: the Extended Internet of Things. The company's unified platform integrates with customers' existing infrastructure to provide a full range of controls for visibility, risk and vulnerability management, threat detection, and secure remote access. Claroty was founded in 2014 and is based in New York City.

Buy -
Mergr

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