M&A Deal Summary

Apcela Acquires SmartSky Networks

On October 22, 2024, Apcela acquired communications company SmartSky Networks from Platform Partners, Tiger Infrastructure Partners, Meritage Funds and WP Global Partners

Acquisition Highlights
  • This is Apcela’s 1st transaction in the Communications sector.
  • This is Apcela’s 1st transaction in the United States.
  • This is Apcela’s 1st transaction in North Carolina.

M&A Deal Summary

Date 2024-10-22
Target SmartSky Networks
Sector Communications
Buyer(s) Apcela
Sellers(s) Platform Partners
Tiger Infrastructure Partners
Meritage Funds
WP Global Partners
Deal Type Add-on Acquisition

Target

SmartSky Networks

Morrisville, North Carolina, United States
SmartSky Networks is a producer of disruptive communications technologies for the aviation industry. SmartSky Networks was founded in 2011 and is based in Morrisville, North Carolina.

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Buyer(S) 1

Buyer

Apcela

Reston, Virginia, United States

Category Company
Founded 2005
Sector Information Technology
DESCRIPTION

Apcela designs and manages software-defined, cloud-optimized networks for the digitally transforming enterprise. Apcela enables enterprises to easily manage application performance in hybrid IT environments. Apcela was founded in 2005 and is based in Reston, Virginia.


DEAL STATS #
Overall 1 of 1
Sector (Communications) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (North Carolina) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1

Seller(S) 4

SELLER

Platform Partners

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2006
PE ASSETS 800M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Platform Partners is a private holding company that makes investments in small to mid-sized companies with a history of 'operating profitability'. The platform looks for growth situations and seeks to invest up to $75 million of equity capital per transaction. Prospective transaction situations include management-led buyouts of private companies, recapitalization of family-owned companies, and growth capital commitments to pursue strategic acquisitions. The Firm will consider both majority and minority positions. Platform Partners was formed in 2006 and is based in Houston, Texas.


DEAL STATS #
Overall 13 of 13
Sector (Communications) 1 of 1
Type (Add-on Acquisition) 4 of 4
State (North Carolina) 1 of 1
Country (United States) 13 of 13
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-18 Vortex

Houston, Texas, United States

Vortex is a trenchless solution provider in the water, sewer, and industrial marketplace. Its suite of services includes turnkey bypass and dewatering, large diameter structural relining, pipe bursting and slip lining, structural and corrosion protection, trenchless robotic systems, pipe and drain cleaners and industrial facility maintenance and renewal. Vortex is based in Houston, Texas.

Sell -
SELLER

Tiger Infrastructure Partners


Category Private Equity Firm
Founded 2009
PE ASSETS 2.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Tiger Infrastructure Partners is a private equity firm focused on acquiring controlling stakes in infrastructure companies in the communications, energy, and transportation sectors. Tiger will consider opportunities throughout North America and Europe and looks to commit $25 to $100 million per transaction. Tiger Infrastructure Partners was formed in 2009 and is based in New York City.


DEAL STATS #
Overall 5 of 5
Sector (Communications) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (North Carolina) 1 of 1
Country (United States) 4 of 4
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-17 Unison Energy

Greenwich, Connecticut, United States

Unison Energy is a fully integrated distributed generation company that develops, builds, owns, and operates combined heat and power (CHP) projects at commercial and industrial customer sites including hospitals, hotels, supermarkets, and manufacturing facilities. Unison Energy is based in Greenwich, New York.

Buy -
SELLER

Meritage Funds

Arvada, Colorado, United States

Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1998
PE ASSETS 1.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Meritage Funds is a private investment firm focused on growth equity opportunities. The Firm targets companies that deliver tech-based services that leverage recurring revenue business models. Areas of interest include businesses that 'enable communications, deliver content, and facilitate commerce'. Prospective transaction situations include direct equity financings, recapitalizations, control acquisitions, consolidations, restructurings, spin-outs and management buy-outs. Meritage typically looks to commit $3 to $20 million over the lifecycle of an investment. Meritage Funds was formed in 1998 and is based in Arvada, Colorado.


DEAL STATS #
Overall 14 of 14
Sector (Communications) 9 of 9
Type (Add-on Acquisition) 8 of 8
State (North Carolina) 1 of 1
Country (United States) 12 of 12
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-16 Datavail

Broomfield, Colorado, United States

Datavail is a provider of remote database administration (DBA) services in North America. Datavail offers 24/7 managed database services, database design, architecture, and staffing. The company specializes in Oracle, Oracle E-Business Suite, Microsoft SQL Server, MySQL, MongoDB, DB2 and SharePoint, and provides flexible onsite, offsite, and offshore delivery options to meet each customer's unique business needs. Datavail was founded in 2007 and is based in Broomfield, Colorado.

Sell -
SELLER

WP Global Partners

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 2005
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

WP Global Partners is an asset management firm that looks to offer clients exposure to private equity, venture capital, and private debt investments through research based investment programs. Within private equity, WP looks to invest $5 to $25 million in recurring revenue oriented businesses valued up to $500 million. WP Global Partners was formed in 2005 and is headquartered in Chicago, Illinois.


DEAL STATS #
Overall 4 of 4
Sector (Communications) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (North Carolina) 1 of 1
Country (United States) 4 of 4
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-23 GSM Outdoors

Irving, Texas, United States

GSM Outdoors specializes in developing and marketing innovative products for the hunting, sport shooting, and rugged outdoor enthusiast market. GSM owns 20+ industry-leading brands including stealth cam, walker’s, muddy outdoors, birchwood casey, hawk, cyclops, western rivers, american hunter, HME, and SME among others. GSM’s strong focus on innovation, product development, rigorous quality control, and customer support has earned it a reputation for delivering top quality outdoor gear backed by industry-leading customer service. GSM Outdoors was founded in 1999 and is based in Irving, Texas.

Sell -