M&A Deal Summary

Avangate BV Acquires 2Checkout

On April 3, 2017, Avangate BV acquired internet software and services company 2Checkout from Chicago Growth Partners and Trident Capital

Acquisition Highlights
  • This is Avangate BV’s 1st transaction in the Internet Software and Services sector.
  • This is Avangate BV’s 1st transaction in the United States.
  • This is Avangate BV’s 1st transaction in Ohio.

M&A Deal Summary
Date 2017-04-03
Target 2Checkout
Sector Internet Software and Services
Buyer(s) Avangate BV
Sellers(s) Chicago Growth Partners
Trident Capital
Deal Type Add-on Acquisition

Target

2Checkout

Columbus, Ohio, United States
2Checkout, Inc. is a global payment processor that allows companies to accept online and mobile payments from buyers worldwide with localized payment options. 2Checkout, Inc. was established in 2000 and is headquartered in Columbus, Ohio.

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Buyer(S) 1

Buyer

Avangate BV

Amsterdam, Netherlands
Category Company
Founded 2006
Sector Software
DESCRIPTION

Avangate provides a complete commerce solution enabling Software, SaaS and Cloud Services companies to increase their online sales, manage subscription billing, grow their reseller and affiliate distribution networks and reach new global markets.

DEAL STATS #
Overall 1 of 1
Sector (Internet Software and Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Ohio) 1 of 1
Country (United States) 1 of 1
Year (2017) 1 of 1

Seller(S) 2

SELLER

Chicago Growth Partners

Chicago, Illinois, United States
Category Growth Capital Firm
Founded 2004
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Chicago Growth Partners LLC (CGP) was a Chicago-based based private equity firm that provided expansion and buyout capital to middle-market companies generating sales of $15 to $150 million. CGP sought to invest in business services, consumer services, healthcare products/services, and industrial companies. CGP was formed in 2004 as a spin-off of William Blair Capital Partners, the investment group of investment bank William Blair. In 2014, the Firm ceased operations.

DEAL STATS #
Overall 31 of 34
Sector (Internet Software and Services) 2 of 3
Type (Add-on Acquisition) 14 of 15
State (Ohio) 1 of 1
Country (United States) 28 of 31
Year (2017) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-09 ScribeAmerica

Aventura, Florida, United States

ScribeAmerica LLC is a provider of managed medical scribe services to the healthcare industry. ScribeAmerica offers turnkey professional medical scribe programs within which it recruits, qualifies, hires, trains, and manages scribes for a wide variety of medical settings.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-08 WorkWave

Holmdel, New Jersey, United States

WorkWave is a provider of an intuitive cloud-based field service management and fleet management solutions that help enterprising organizations with a mobile workforce transform their businesses. WorkWave was founded in 1984 and is based in Holmdel, New Jersey.

Sell -
SELLER

Trident Capital

San Mateo, California, United States
Category Private Equity Firm
Founded 1993
PE ASSETS 1.9B USD
Size Large
Type Sector Focused
DESCRIPTION

Trident Capital was a venture capital firm focused on investments at all company stages, from early and expansion stage investments to buyouts and recapitalizations. Trident focused on investments in tech-enabled sectors, including enterprise software/services, outsourcing and payments, healthcare software/services, internet/consumer, and energy/clean tech. In 2015, Trident ceased investing and the Firm's employees split to form Sunstone Partners, a growth equity firm, and Trident Capital Cybersecurity, a venture firm focused on the cyber security sector.

DEAL STATS #
Overall 79 of 85
Sector (Internet Software and Services) 10 of 11
Type (Add-on Acquisition) 59 of 63
State (Ohio) 2 of 2
Country (United States) 74 of 80
Year (2017) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-23 BlueCat

Toronto, Ontario, Canada

BlueCat provides software-based Enterprise Domain Name System solutions that offer its customers management tools and security capabilities to manage their increasingly complex internal corporate networks. BlueCat's solutions result in improved network performance, enhanced network visibility, reduced network downtime and strengthened network security. BlueCat was founded in 2001 and is based in Toronto, Ontario.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-30 Odyssey Logistics

Danbury, Connecticut, United States

Odyssey Logistics is a provider of multi-modal transportation solutions and outsourced transportation management. Odyssey specializes in shipping chemicals, metals and bulk liquids, and can serve all modes of transportation through operations in North America, Europe and Asia. Odyssey Logistics was formed in 2003 and is based in Danbury, Connecticut.

Sell -
Mergr

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