M&A Deal Summary

ATSG Acquires Evolve IP

On October 31, 2024, ATSG acquired internet software and services company Evolve IP from Great Hill Partners and Ardian

Acquisition Highlights
  • This is ATSG’s 1st transaction in the Internet Software and Services sector.
  • This is ATSG’s 11th transaction in the United States.
  • This is ATSG’s 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2024-10-31
Target Evolve IP
Sector Internet Software and Services
Buyer(s) ATSG
Sellers(s) Great Hill Partners
Ardian
Deal Type Merger
Advisor(s) Rothschild Global Advisory (Financial)
Choate Hall & Stewart (Legal)

Target

Evolve IP

King of Prussia, Pennsylvania, United States
Evolve IP provides organizations with a unified option for cloud services, including unified communications, contact center, managed network, and cloud computing technologies. Evolve IP was founded in 2007 and is based in King of Prussia, Pennsylvania.

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Buyer(S) 1

Buyer

ATSG

Briarcliff, New York, United States
Category Company
Founded 1994
Sector Information Technology
DESCRIPTION

ATSG is a tech-enabled managed services and solutions company focused on innovative solutions to enhance today's digital enterprise and end-user experiences. ATSG provides Intelligent IT through Technology Solutions as a Service (TSaaS) to a variety of customers; leveraging an offerings portfolio of rediTech, rediManage, rediCloud, and rediSecure, which delivers reliable, elastic, dynamic infrastructure, collaboration, applications, as well as world-class IT operations. ATSG was formed in 1994 and is based in Briarcliff, New York.

DEAL STATS #
Overall 11 of 11
Sector (Internet Software and Services) 1 of 1
Type (Merger) 1 of 1
State (Pennsylvania) 1 of 1
Country (United States) 11 of 11
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-13 Xentaurs

Miami, Florida, United States

Xentaurs is a cybersecurity company providing consulting, design, implementation, and managed detection & response (MDR) services to ensure customers can evolve their digital presence while maintaining their security posture. Xentaurs was formed in 2016 and is based in Miami, Florida.

Buy -

Seller(S) 2

SELLER

Great Hill Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 12.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Great Hill Partners is a private equity firm focused on growth equity and recapitalization investments in well established public and private companies valued put to $1 billion. Great Hill targets companies within consumer services, business services, financial technology, healthcare, internet, logistics, media, communications, technology services, software and transaction processing. The Firm invests in the range of $25 to $500 million per transaction. Great Hill prefers companies located in the US, but will also consider opportunities in Europe and Latin America. Great Hill Partners was formed in 1998 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 60 of 62
Sector (Internet Software and Services) 20 of 22
Type (Merger) 4 of 4
State (Pennsylvania) 3 of 3
Country (United States) 50 of 52
Year (2024) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-25 BigChange

Leeds, United Kingdom

BigChange is a mobile workforce management technology company for the service and transport sectors. BigChange’s tools provide job scheduling, customer invoicing and payments automation, mobile workforce management, and client engagement. BigChange was founded in 2013 and is based in Leeds, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-01 Paytronix

Newton, Massachusetts, United States

Paytronix is a provider of SaaS customer experience management solutions (loyalty, reward, gift, mobile applications, and data insights) for restaurants and convenience store brands. Paytronix was founded in 2001 and is based in Newton, Massachusetts.

Sell -
SELLER

Ardian

Paris, France

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1996
PE ASSETS 125.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ardian is a mega-sized diversified investment group focused on opportunities worldwide. Ardian invests across and manages funds focused on small and mid-sized buyouts, growth capital financings, mezzanine, infrastructure, real estate, and co-investment opportunities. Ardian's small-buyouts group targets controlling interests in French, German, and Italian businesses valued up to €100 million. It's mid-sized buyout group seeks businesses valued up €1.5 billion and does not have any geographic limitations. The Infrastructure team looks for European opportunities and can commit up to €150 million per transaction. The Mezzanine group supports junior capital commitments of €5 to €80 million. In addition to direct investing, Ardian also manages various private equity fund-of-funds. Ardian was founded in 1996 and is based in Paris.

DEAL STATS #
Overall 223 of 223
Sector (Internet Software and Services) 8 of 8
Type (Merger) 7 of 7
State (Pennsylvania) 3 of 3
Country (United States) 26 of 26
Year (2024) 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-25 Nutripure

Deyme, France

Nutripure is a digital active nutrition brand providing a comprehensive ecosystem of products and services, including food supplements and sports nutrition, primarily through its website. The company offers almost 40 products for all consumers across health & metabolism, sports & endurance, physical recovery, and healthy nutrition. Nutripure was formed in 2017 and is based in Deyme, France.

Sell -
Mergr

Product

Company

Legal