M&A Deal Summary

Ascensus Acquires ExpertPlan

On January 16, 2013, Ascensus acquired financial services company ExpertPlan from First Analysis, Patriot Capital, Argentum Capital Partners and MVP Capital Partners

Acquisition Highlights
  • This is Ascensus’ 1st transaction in the Financial Services sector.
  • This is Ascensus’ 1st transaction in the United States.
  • This is Ascensus’ 1st transaction in New Jersey.

M&A Deal Summary
Date 2013-01-16
Target ExpertPlan
Sector Financial Services
Buyer(s) Ascensus
Sellers(s) First Analysis
Patriot Capital
Argentum Capital Partners
MVP Capital Partners
Deal Type Add-on Acquisition
Advisor(s) First Analysis Corp.
Raymond James - Investment Banking (Financial)

Target

ExpertPlan

East Windsor, New Jersey, United States
ExpertPlan provides private-label retirement solutions to the financial services industry. The company's Web-based 401(k) platform enables ExpertPlan's clients in the financial services industry to service small companies in a more cost-effective and user-friendly manner and provide a broader array of product choices.

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Buyer(S) 1

Buyer

Ascensus

Dresher, Pennsylvania, United States
Category Company
Founded 1980
Sector Business Services
DESCRIPTION

Ascensus is an independent recordkeeping services provider, third-party administrator, and government savings facilitator in the United States. The firm delivers technology and expertise to help millions of people save for what matters most retirement, education, and healthcare. Ascensus was formed in 1980 and is based in Dresher, Pennsylvania.

DEAL STATS #
Overall 1 of 39
Sector (Financial Services) 1 of 5
Type (Add-on Acquisition) 1 of 34
State (New Jersey) 1 of 3
Country (United States) 1 of 39
Year (2013) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-17 Retirement Educators

Norfolk, Massachusetts, United States

Retirement Educators, Inc. is a retirement plan education firm that provides on-site enrollment support and participant education services.

Buy -

Seller(S) 4

SELLER

First Analysis

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Venture Capital Firm
Founded 1981
PE ASSETS 800M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

First Analysis is a financial advisory and investment firm. First Analysis' private equity arm targets investments in growth companies at all stages of development. The Group looks for opportunities based primarily in the US and can commit up to $10 million of equity per transaction. Sectors of particular interest include outsourced services, (business/government services, education, environmental services, healthcare services, marketing services); information technology, (business integration, call centers, healthcare IT, network security, open source, sensor systems, transaction processing); and chemistry enabled businesses (advanced materials, chemicals, healthcare products, polymers, purification). First Analysis was formed in 1981 and is based in Chicago, Illinois.

DEAL STATS #
Overall 52 of 71
Sector (Financial Services) 1 of 2
Type (Add-on Acquisition) 39 of 51
State (New Jersey) 4 of 7
Country (United States) 52 of 70
Year (2013) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-01 M Cubed

Newtown, Connecticut, United States

M Cubed develops and markets advanced composite products to original equipment manufacturers in semiconductor, display, industrial, and defense markets worldwide.

Sell $71M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-05 Freeosk

Chicago, Illinois, United States

Freeosk is a proprietary marketing services platform that offers consumers a fast and fun way to receive free samples of new products wherever they shop, play, and explore. Via a network of interactive kiosks that automatically distribute free samples, Freeosk aims to improve current product sampling solutions by increasing consumer conversion rates while providing deeper insights to retail and manufacturer partners about how shoppers discover and adopt new products. Freeoskis based in Chicago, Illinois.

Buy -
SELLER

Patriot Capital

Baltimore, Maryland, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Size Large
Type Sector Agnostic
DESCRIPTION

Patriot Capital is a private investment firm that provides equity and junior capital to support acquisitions, growth capital financings, management buyouts, and recapitalizations of middle-market companies. The Firm looks to invest $5 to $25 million in businesses generating revenues of $10 to $200 million. Areas of interest include business and consumer services, consumer products, niche manufacturing and distribution, education, e-commerce, application software, transportation, and telecom services. Patriot focuses its investment activity with the Mid-Atlantic, Midwest, and Southern areas of the US. Patriot Capital is based in Baltimore, Maryland.

DEAL STATS #
Overall 15 of 50
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 11 of 29
State (New Jersey) 2 of 5
Country (United States) 15 of 50
Year (2013) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-16 Newmar Power

Santa Ana, California, United States

Newmar is a manufacturer of electronic power products that designs, engineers, and manufactures critical electronic components primarily for the marine and telecom industries. Newmar Power was founded in 1970 and is based in Santa Ana, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-30 BodyBilt

Navasota, Texas, United States

BodyBilt is a manufacturer and marketer of customized ergonomic office chairs. BodyBilt's products are designed to enhance posture, alleviate pain and reduce stress on the musculoskeletal system. BodyBilt is based in Navasota, Texas.

Buy -
SELLER

Argentum Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1988
PE ASSETS 400M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Argentum Capital Partners is a private equity firm focused on investing in small to mid-sized companies with proven business models and the ability to become market leaders. Prospective transaction situations include growth capital financing, management buyouts, platform acquisitions, and recapitalization. The firm typically takes minority positions, except in the case of management buyouts. Industry sectors of interest include business services, healthcare, and technology. Argentum generally prefers opportunities located in the Eastern US, but will consider companies across the US. Argentum Capital Partners was formed in 1988 and is based in New York City.

DEAL STATS #
Overall 28 of 44
Sector (Financial Services) 1 of 2
Type (Add-on Acquisition) 20 of 31
State (New Jersey) 4 of 5
Country (United States) 27 of 42
Year (2013) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-11 Chrome River Technologies

Los Angeles, California, United States

Chrome River Technologies, Inc. is a provider of online expense reporting and automated invoice processing software. Chrome River delivers immediate payback via a “Software as a Service” delivery model that requires no hardware, no software, and no long-term commitment. Chrome River Technologies was established in 2007 and is based in Los Angeles, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-29 Reson A/S

Slangerup, Denmark

Reson A/S is a provider of underwater acoustic solutions. Company provide high quality standard tools for numerous underwater acoustic applications, budgets, and survey accuracy requirements. Company are devoted to design and manufacture of more specific marine technological solutions.

Sell -
SELLER

MVP Capital Partners

Radnor, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1985
PE ASSETS 200M USD
Size Small
Type Sector Agnostic
DESCRIPTION

MVP Capital Partners is a private equity firm focuses on investing in middle market companies with $10-100 million in revenues through buyouts, recapitalizations and expansion capital financing and providing growth capital investments in later stage businesses as well as equity financing to support acquisitions and recapitalization. MVP generally looks at US-based companies valued up to $100 million. Target sectors include aviation, business/financial services, healthcare, niche manufacturing, publishing/media, and specialty retail/consumer. MVP Capital Partners was formed in 1987 and is located in Radnor, Pennsylvania.

DEAL STATS #
Overall 10 of 13
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 4 of 4
State (New Jersey) 2 of 3
Country (United States) 10 of 13
Year (2013) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-05 GCA Services Group

Cleveland, Ohio, United States

GCA Services Group, Inc. is a provider of quality facility services, including janitorial/custodial services, contamination control for cleanroom manufacturing, facilities operations and maintenance services, grounds and athletic field management services, diversified staffing, and more.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-31 Coffin Turbo Pump

Englewood, New Jersey, United States

Coffin Turbo Pump is a producer of steamship boiler feed pumps, plunger and ejector pumps for municipal wastewater treatment facilities, and desalination and oil/water separation equipment for marine and industrial applications. Coffin Turbo Pump was founded in 1925 and is based in Englewood, New Jersey.

Sell -
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