M&A Deal Summary

Aquiline Capital Partners and Sixth Street Partners Acquire Fullsteam

On May 29, 2018, private equity firm Aquiline Capital Partners and asset manager Sixth Street Partners acquired software company Fullsteam

Acquisition Highlights
  • This is Aquiline Capital Partners’ 6th and Sixth Street Partners’ 1st transaction in the Software sector.
  • This is Aquiline Capital Partners’ 22nd and Sixth Street Partners’ 3rd transaction in the United States.
  • This is Aquiline Capital Partners’ 1st and Sixth Street Partners’ 1st transaction in Alabama.

M&A Deal Summary

Date 2018-05-29
Target Fullsteam
Sector Software
Buyer(s) Aquiline Capital Partners
Sixth Street Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Fullsteam

Auburn, Alabama, United States
Fullsteam is a software and payments company that acquires companies and provides them with streamlined payments infrastructure and enhanced operational support in order to increase growth and improve profitability. Fullsteam is actively seeking further acquisitions across multiple software verticals. Fullsteam was founded in 2018 and is based in Auburn, Alabama.

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Buyer(S) 2

Buyer

Aquiline Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 10.4B USD
Size Mega
Type Sector Focused
DESCRIPTION

Aquiline Capital Partners is a private equity firm that targets investments in the financial services sector. The Firm specifically invests in risk-bearing and services enterprises in industries such as property and casualty insurance, specialty finance, securities, asset management, life insurance and transaction processing. Aquiline Capital was formed in 2005 and is based in New York City.


DEAL STATS #
Overall 33 of 72
Sector (Software) 6 of 13
Type (Buyout (LBO, MBO, MBI)) 10 of 12
State (Alabama) 1 of 1
Country (United States) 22 of 53
Year (2018) 3 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-23 RIA In A Box

New York, New York, United States

RIA in a Box is a provider of compliance software to the wealth management industry. Approximately 2,000 RIAs of varying sizes across the US use the platform to increase compliance workflow efficiency. RIA In A Box also offers SaaS-based solutions such as CRM, billing, and other operational tools. RIA In A Box was founded in 2005 and is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-31 Aspirion

Columbus, Georgia, United States

Aspirion is a specialty revenue cycle management vendor focused on helping hospitals and health systems process complex healthcare claims. Aspirion’s current focus is on worker's compensation, motor vehicle accident, and veterans affairs cases, which are time- and labor-intensive to process relative to traditional commercial healthcare claims. Aspirion was founded in 2006 and is based in Columbus, Georgia.

Buy -
Buyer

Sixth Street Partners


Category Asset Manager
Founded 2009
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Sixth Street is a global alternative asset manager and lender that offers a wide range of capital solutions to small, medium, and large companies. The Firm maintains a variety of investment vehicles focused on growth companies, infrastructure, insurance, agriculture as well as other strategies. Sixth Street was established in 2009 and is headquartered in San Francisco, California.


DEAL STATS #
Overall 3 of 26
Sector (Software) 1 of 4
Type (Buyout (LBO, MBO, MBI)) 1 of 5
State (Alabama) 1 of 1
Country (United States) 3 of 23
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-01 Chobani

New Berlin, New York, United States

Chobani is a provider of yogurt, oatmilk, and dairy and non-dairy creamers. Chobani was founded in 2005 and is based in New Berlin, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-24 MindBody

San Luis Obispo, California, United States

MindBody is a technology platform for the fitness, beauty and wellness services industries. Local entrepreneurs worldwide use MINDBODY’s integrated software and payments platform to run, market and build their businesses. Consumers use MINDBODY to more easily find, engage and transact with fitness, wellness and beauty providers in their local communities. MindBody was formed in 2001 and is based in San Luis Obispo, California.

Buy $1.9B