M&A Deal Summary

Arlington Capital Partners Acquires Exostar

On September 26, 2023, private equity firm Arlington Capital Partners acquired internet software and services company Exostar from Thoma Bravo

Acquisition Highlights
  • This is Arlington Capital Partners’ 1st transaction in the Internet Software and Services sector.
  • This is Arlington Capital Partners’ 56th transaction in the United States.
  • This is Arlington Capital Partners’ 15th transaction in Virginia.

M&A Deal Summary
Date 2023-09-26
Target Exostar
Sector Internet Software and Services
Buyer(s) Arlington Capital Partners
Sellers(s) Thoma Bravo
Deal Type Secondary Buyout

Target

Exostar

Herndon, Virginia, United States
Exostar is a cloud-based identity and access management and secure collaboration software provider serving the aerospace and defense, healthcare, and life sciences industries. Exostar’s platforms create exclusive communities within these highly-regulated industries where organizations can securely collaborate, share information, and operate compliantly. Exostar was founded in 2000 and is based in Herndon, Virginia.

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Buyer(S) 1

Buyer

Arlington Capital Partners

Chevy Chase, Maryland, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 7.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Arlington Capital Partners is a middle-market private equity firm focused on buyouts and recapitalizations in targeted growth industries. Arlington targets US based companies valued between $50 and $500 million with strong potential for organic growth and possible consolidation opportunities. Sectors of interest include business services and outsourcing, aerospace/defense, federal and commercial IT, media, education and training, healthcare services, and manufacturing. Arlington Capital was formed in 1999 and is headquartered in Washington DC.

DEAL STATS #
Overall 60 of 65
Sector (Internet Software and Services) 1 of 1
Type (Secondary Buyout) 15 of 17
State (Virginia) 15 of 17
Country (United States) 56 of 61
Year (2023) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-02 Integrated Data Services

El Segundo, California, United States

Integrated Data Services is a provider of software and technology-enabled support and development for federal government customers. The Company’s flagship software offering, Comprehensive Cost and Requirement (CCaR), is primarily utilized to automate processes centered around program portfolio management. Integrated Data Services was founded in 1997 and is based in El Segundo, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-02 Avenu Insights & Analytics

Centreville, Virginia, United States

Avenu Insights & Analytics is a provider of integrated administrative, revenue enhancement and payment software and solutions to state and local governments Avenu Insights & Analytics was founded in 1978 and is based in Centreville, Virginia.

Buy -

Seller(S) 1

SELLER

Thoma Bravo

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1980
PE ASSETS 127.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thoma Bravo is a private equity firm that primarily invests in or acquires US-based middle-market businesses. While Thoma Bravo will consider a variety of transaction situations, including take-privates, buyouts, carve-outs, recapitalizations, and growth equity financings, the Firm has a special interest in tech consolidation opportunities. Target companies generally have a history of profitability with EBITDA of at least $20 million. The Firm's equity commitment size range is $100 to $750 million. Sectors of interest include enterprise and infrastructure software, education, distribution, financial services and consumer goods/services. The Firm will not invest in new inventions or technologies, developmental products or services, start-ups, biotech, motion pictures, distressed businesses, oil/gas, or real estate. Thoma Bravo was formerly known as Thoma Cressey Bravo and before that Golder Thoma & Co. The Firm was originally formed in 1980 and is based in Chicago, Illinois.

DEAL STATS #
Overall 74 of 79
Sector (Internet Software and Services) 9 of 12
Type (Secondary Buyout) 21 of 23
State (Virginia) 3 of 3
Country (United States) 69 of 73
Year (2023) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-06 NextGen Healthcare

Irvine, California, United States

NextGen Healthcare is a provider of healthcare technology solutions. NextGen is reimagining ambulatory healthcare with solutions that enable high-performing practices to create healthier communities. NexGen partners with medical, behavioral and oral health providers in their journey toward whole person health and value-based care. NextGen Healthcare was founded in 1974 and is based in Irvine, California.

Buy $1.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-16 EQS Group

Munich, Germany

EQS Group is a provider of IT products and services. EQS Investor Relations and EQS Corporate Communications financial and corporate news, develop corporate websites and apps, produce online financial as well as sustainability reports, and execute audio and video broadcasts. EQS Group was founded in 2000 and is based in Munich, Germany.

Buy €400M
Mergr

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