M&A Deal Summary

Apollo Health Street Acquires Zavata

On August 30, 2007, Apollo Health Street acquired business services company Zavata from Navigation Capital Partners, Cornerstone Holdings and WestBridge Capital Partners for 700M INR

Acquisition Highlights
  • This is Apollo Health Street’s 1st transaction in the Business Services sector.
  • This is Apollo Health Street’s largest (disclosed) transaction.
  • This is Apollo Health Street’s 1st transaction in the United States.
  • This is Apollo Health Street’s 1st transaction in Pennsylvania.

M&A Deal Summary

Date 2007-08-30
Target Zavata
Sector Business Services
Buyer(s) Apollo Health Street
Sellers(s) Navigation Capital Partners
Cornerstone Holdings
WestBridge Capital Partners
Deal Type Add-on Acquisition
Deal Value 700M INR

Target

Zavata

Conshohocken, Pennsylvania, United States
Zavata, a voice tech help desk provider to large enterprise customers, was acquired in by Apollo Health Street (AHS), a global healthcare outsourcing solutions provider.

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Buyer(S) 1

Buyer

Apollo Health Street

Americus, Georgia, United States

Category Company
Founded 1999
Sector Business Services
DESCRIPTION

Create the dominant healthcare BPO company in a highly fragmented and growing space.


DEAL STATS #
Overall 1 of 1
Sector (Business Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Pennsylvania) 1 of 1
Country (United States) 1 of 1
Year (2007) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 3

SELLER

Navigation Capital Partners

Atlanta, Georgia, United States

Investor


Category Private Equity Firm
Founded 2006
PE ASSETS 340M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Navigation Capital Partners (NCP) is a private equity firm that makes growth and buyout investments in established mid-market companies with longstanding customer relationships, proprietary manufacturing processes, and mission-critical services. Target companies typically have annual sales up to $150 million and the firm can commit between $10 and $40 million of equity capital per transaction. Sectors of interest include engineered industrial products, automotive & recreational vehicle components, building & construction products, packaging products & services, specialty chemicals, value-added distribution, business services, financial services, healthcare services, and transportation/logistics. Navigation Capital Partners is based in Atlanta, Georgia.


DEAL STATS #
Overall 12 of 26
Sector (Business Services) 5 of 6
Type (Add-on Acquisition) 6 of 12
State (Pennsylvania) 2 of 3
Country (United States) 12 of 26
Year (2007) 3 of 3
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-08 HireRight

Nashville, Tennessee, United States

HireRight is a global background screening company that offers innovative solutions to help organizations screen and manage their workforce. HireRight was founded in 1990 and is based in Nashville, Tennessee.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-02-05 Exeter Finance

Austin, Texas, United States

Exeter Finance is an indirect auto finance company. The company underwrites, purchases, services, and securitizes retail installment contracts from U.S. automobile dealers. It works with more than 11,000 dealers and 475,000 customers nationwide providing indirect financing for both new and used vehicles. The company has a serviced finance portfolio of more than $7 billion. Exeter Finance was formed in 2006 and is based in Irving, Texas.

Buy -
SELLER

Cornerstone Holdings

Denver, Colorado, United States

Investor Investor Investor Investor


Category Family Office
Size Small
Type Sector Agnostic
DESCRIPTION

Cornerstone Holdings is a family backed private investment firm focused on direct company investments as well as real estate opportunities. Within its direct investment practice, Cornerstone generally targets growth oriented companies with $2 to $40 million of sales and $1 to $5 million of EBITDA. The Firm's target investment size is $4 to $15 million. Cornerstone prefers prefers majority equity ownership positions or outright control when investing. Prospective transaction situation includes recapitalizations, LBOs, MBOs, and growth capital financings. Cornerstone Holdings is based in Denver, Colorado.


DEAL STATS #
Overall 3 of 8
Sector (Business Services) 1 of 1
Type (Add-on Acquisition) 2 of 6
State (Pennsylvania) 1 of 1
Country (United States) 3 of 8
Year (2007) 2 of 3
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-27 Speakeasy

Seattle, Washington, United States

Speakeasy is a broadband voice (VoIP), data and IT service providers. Speakeasy helps small businesses succeed by offering simplified voice and data solutions that improve the customer experience, increase employee productivity and help cut costs.

Sell $97M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-07 Summit Energy Services

Louisville, Kentucky, United States

Summit Energy Services, Inc. is a provider of risk management, energy procurement, and sustainability services to more than 150 large industrial and commercial clients.

Sell -
SELLER

WestBridge Capital Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2011
PE ASSETS 3.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

WestBridge Capital Partners, LLC is a private investment firm focused on growth-oriented opportunities across India. WestBridge looks to partner alongside promising mid-sized companies and typically seeks to commit $10 to $80 million of minority capital per transaction. WestBridge Capital Partners is based in Ebene, Mauritius.


DEAL STATS #
Overall 2 of 11
Sector (Business Services) 1 of 1
Type (Add-on Acquisition) 2 of 6
State (Pennsylvania) 1 of 2
Country (United States) 2 of 3
Year (2007) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-17 Celetronix USA

Simi Valley, California, United States

Celetronix USA, Inc. provides electronic design and prototyping services through manufacturing and supply chain management.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-03-31 Star Health and Allied Insurance

Chennai, India

Star Health and Allied Insurance is a standalone health insurer. Star Health and Allied Insurance was founded in 2005 and is based in Chennai, India.

Buy -