Add-on Acquisition • Business Services

Altruist Technologies Pvt Acquires Secova

On May 17, 2019, Altruist Technologies Pvt acquired business services company Secova from Baring Private Equity Partners India

Acquisition Context
  • This is Altruist Technologies Pvt’s 1st transaction in the Business Services sector.
  • This is Altruist Technologies Pvt’s 1st transaction in the United States.
  • This is Altruist Technologies Pvt’s 1st transaction in New Jersey.

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M&A Deal Summary

Date May 17, 2019
Target Secova
Sector Business Services
Buyer(s) Altruist Technologies Pvt
Sellers(s) Baring Private Equity Partners India
Deal Type Add-on Acquisition

Target Company

Secova

Budd Lake, New Jersey, United States
Secova offers outsourced employee benefits administration services by analyzing and consulting its clients on their use of healthcare networks, health plan performance, and online enrollment services. Secova was founded in 1989 and is based in Budd Lake, New Jersey.
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Buyer Overview 1

Buyer

Altruist Technologies Pvt

Kishangarh, India

Category Company
Sector Information Technology
DESCRIPTION

he Altruist Group is active in mobile social networking, mobile advertising, rich media content and value-added services for telecoms operators and brands.


Deal Context for Buyer #
Overall 2 of 2
Sector: Business Services 1 of 1
Type: Add-on Acquisition 2 of 2
State: New Jersey 1 of 1
Country: United States 1 of 1
Year: 2019 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-29 Teligent Telecom AB

Nynäshamn, Sweden

Teligent Telecom, a leading supplier of infrastructure solutions and value-added services to telecommunication.

Buy -

Seller Profile 1

SELLER
DESCRIPTION

Baring Private Equity Partners India (BPEP India) is an India-focused private equity firm. The Group targets mid-market transactions and looks for companies with excellent management, recognized brands, strong distribution, and sustainable growth/cash-flows. Sectors of interest include information technology, life science, banking, financial services, insurance, energy, infrastructure, and consumer goods. The Firm will consider both control and minority investment positions. BPEP India was originally part of the Baring Private Equity Partners Group and became independent from the group and parent ING in 2004. BPEP India is based in Gurgaon.


Deal Context for Seller #
Overall 6 of 6
Sector: Business Services 2 of 2
Type: Add-on Acquisition 4 of 4
State: New Jersey 1 of 1
Country: United States 1 of 1
Year: 2019 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-10 Cethar

Tiruchirapalli, India

Cethar is a manufacturer of boilers for power plants for Atmospheric Fluidised Bed Boilers up to 15TPH for industrial applications. Cethar was founded in 1981 and is based in Chennai, India.

Sell -