M&A Deal Summary

Arlington Capital Partners and JMI Equity Acquire Unison

On June 15, 2010, private equity firms Arlington Capital Partners and JMI Equity acquired software company Unison from The Carlyle Group and American Capital

Acquisition Highlights
  • This is Arlington Capital Partners’ 1st and JMI Equity’s 31st transaction in the Software sector.
  • This is Arlington Capital Partners’ 19th and JMI Equity’s 51st transaction in the United States.
  • This is Arlington Capital Partners’ 3rd and JMI Equity’s 5th transaction in Virginia.
Investment Fate
  • Unison was sold to a consortium of financial buyers in 2015.
  • Unison was sold to a consortium of financial buyers in 2020.
  • Unison was sold to a consortium of financial buyers in 2022.

M&A Deal Summary

Date 2010-06-15
Target Unison
Sector Software
Buyer(s) Arlington Capital Partners
JMI Equity
Sellers(s) The Carlyle Group
American Capital
Deal Type Recapitalization
Advisor(s) Clearsight Advisors
Houlihan Lokey (Financial)

Target

Unison

McLean, Virginia, United States
Unison is a provider of purpose-built procurement and contract management software solutions to U.S. federal government agencies and government contractors. All software development and support are done within the USA. For over 30 years, Unison has continually advanced software and insight solutions to help Federal programs efficiently achieve their missions. Unison was founded in 1983 and is based in McLean, Virginia.

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Buyer(S) 2

Buyer

Arlington Capital Partners

Bethesda, 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 19 of 67
Sector: Software M&A 1 of 7
Type: Recapitalization M&A Deals 1 of 2
State: Virginia M&A 3 of 17
Country: United States M&A 19 of 63
Year: 2010 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-04-21 CPP

Cleveland, Ohio, United States

CPP is an aerospace casting manufacturer and offers both sand and investment casting capabilities. The company specializes in producing complex, mission-critical components for a variety of leading commercial and military aircraft and regional/business jets, as well as industrial gas turbines. CPP was founded in 1991 and is based in Cleveland, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-10-04 TSI Group

St. Louis, Missouri, United States

TSI Group, Inc. is a manufacturer of custom-engineered thermal management and electronic component and systems solutions predominantly to defense and aerospace customers. TSI Group is based in St. Louis, Missouri.

Sell $310M
Buyer

JMI Equity

La Jolla, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 7.5B USD
Size Mega
Type Sector Focused
DESCRIPTION

JMI Equity is a private equity firm focused on investments in software, internet, business service, and healthcare IT. Targeted businesses typically help automate and optimize business and information technology processes. The Firm will consider investments at all stages of development, including early-stage companies, self-funded businesses requiring growth capital, and later stage businesses in need of buyout or recapitalization funding. JMI looks to commit at least $25 million per transaction. JMI Equity was formed in 1992 and maintains offices in San Diego and Baltimore.


DEAL STATS #
Overall 57 of 130
Sector: Software M&A 31 of 55
Type: Recapitalization M&A Deals 2 of 2
State: Virginia M&A 5 of 9
Country: United States M&A 51 of 114
Year: 2010 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-10 Vertafore

Denver, Colorado, United States

Vertafore, Inc. is a cloud-based software that provides agency management, compliance, workflow, and data solutions that simplify and automate the complex property and casualty (“P&C”) insurance lifecycle. More than 20,000 agencies and 1,000 insurance carriers rely on Vertafore to streamline their processes, improve efficiency, and drive productivity. Vertafore, Inc. was founded in 1969 and is based in Denver, Colorado.

Sell $1.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-07 Intergraph

Madison, Alabama, United States

Intergraph Corp. is a provider of spatial information management software and services. Security organizations, businesses, and governments use Intergraph's software to turn vast amounts of complex data into visual representations, allowing for faster, more effective operational decisions. Intergraph was formed in 1969 and is based in Mobile, Alabama.

Sell $2.1B

Seller(S) 2

SELLER

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 149 of 488
Sector: Software M&A 11 of 35
Type: Recapitalization M&A Deals 3 of 5
State: Virginia M&A 9 of 19
Country: United States M&A 96 of 261
Year: 2010 M&A 11 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-08 ATMU

Beijing, China

ATMU Inc. distributes and operates automated teller machines (ATM) in China.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-18 Intelligence

Tokyo, Japan

Intelligence is a comprehensive HR services company, providing services including online and classified job advertisement services, permanent placement services, temporary staffing services, IT and business process outsourcing services, public solutions services, and IT system development services in Japan, as well as permanent placement services in China and South East Asia. Intelligence was formed in 1989 and is based in Tokyo, Japan.

Buy ¥32.5B
SELLER

American Capital


Category Private Equity Firm
Founded 1997
PE ASSETS 22.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Capital was a publicly traded buyout and mezzanine investment firm. American Capital invested in buyouts, growth capital financings, acquistion financings, and recapitalizations. The Firm looked to finance businesses with at least $4 million in EBITDA and valued between $20 and $500 million. American Capital ws a generalist firm with broad interest in traditional industries such as manufacturing, distribution, and services. American Capital's European investment affiliate is European Capital. European Capital looked to invest $10 to $600 million of equity, mezzanine, and/or senior debt in similar opportunities across Europe. American Capital was formed in 1997 and in January 2017, merged with Ares Capital Management.


DEAL STATS #
Overall 114 of 194
Sector: Software M&A 4 of 9
Type: Recapitalization M&A Deals 3 of 4
State: Virginia M&A 6 of 8
Country: United States M&A 112 of 186
Year: 2010 M&A 7 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-05-18 FCC

Boca Raton, Florida, United States

FCC is a national private career college that owns and operates 33 campuses under various brands in 14 states. FCC offers certificate, associate, bachelor and master degree programs in allied health, massage therapy, information technology, and business.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-26 iTradeNetwork

Pleasanton, California, United States

iTradeNetwork is an on-demand solutions provider for the Foodservice and Retail industries. The company is focused on providing the most efficient solution for the entire supply chain from beginning to end. iTradeNetwork provides integrated solutions that fully manage demand forecast planning, promotional planning, buy/sell transactions from placement through transportation, delivery, and payment.

Sell $525M