M&A Deal Summary

Bain Capital Private Equity Acquires Rocket Software

On October 8, 2018, private equity firm Bain Capital Private Equity acquired software company Rocket Software from Court Square Capital Partners for 2.0B USD

Acquisition Highlights
  • This is Bain Capital Private Equity’s 12th transaction in the Software sector.
  • This is Bain Capital Private Equity’s 33rd largest (disclosed) transaction.
  • This is Bain Capital Private Equity’s 95th transaction in the United States.
  • This is Bain Capital Private Equity’s 9th transaction in Massachusetts.

M&A Deal Summary
Date 2018-10-08
Target Rocket Software
Sector Software
Buyer(s) Bain Capital Private Equity
Sellers(s) Court Square Capital Partners
Deal Type Secondary Buyout
Deal Value 2.0B USD
Advisor(s) Morgan Stanley
Credit Suisse Investment Banking (Financial)

Target

Rocket Software

Waltham, Massachusetts, United States
Rocket Software is a global software development firm that builds and services Enterprise Infrastructure products for the world’s leading OEMs, networks and software companies and enterprises. Rocket Software’s solutions make it easier to unlock the business logic and data inside host-based systems to help speed digital transformation projects and help companies compete more effectively. IT departments streamline their daily operations using the automation and optimization capabilities offered by Rocket Software to get more out of existing resources and free staff to focus on efforts that drive new revenue. Rocket Software was founded in 1990 and is based in Waltham, Massachusetts.

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Buyer(S) 1

Buyer

Bain Capital Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1984
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Bain Capital Private Equity (BCPE), is the private equity investment arm of alternative asset management firm, Bain Capital. BCPE targets leveraged buyout and growth capital transactions in a wide variety of industries including information technology, communications, media, healthcare, industrial/manufacturing, retail/consumer, and financial services. Bain Capital is based in Boston with additional offices in New York, London, Mumbai, Hong Kong, Shanghai, Tokyo, and Munich.

DEAL STATS #
Overall 177 of 238
Sector (Software) 12 of 16
Type (Secondary Buyout) 40 of 67
State (Massachusetts) 9 of 12
Country (United States) 95 of 124
Year (2018) 10 of 12
Size (of disclosed) 33 of 72
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-26 SurveyMonkey

San Mateo, California, United States

SurveyMonkey specializes in online surveys and forms that empowers people with the insights they need to make decisions with speed and confidence. SurveyMonkey's intuitive feedback management platform connects millions of users worldwide with real-time AI-powered insights that drive meaningful decisions. SurveyMonkey was founded in 1999 and is based in Palo Alto, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-23 Dealer Tire

Cleveland, Ohio, United States

Dealer Tire is a value-added distributor that equips and assists automobile dealers in the sale of replacement tires and other automotive parts to end consumers. It serves more than 10,000 automotive dealerships from nearly 40 distribution centers. Dealer Tire was founded in 1999 and is based in Cleveland, Ohio.

Buy -

Seller(S) 1

SELLER

Court Square Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1968
PE ASSETS 7.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Court Square Capital Partners (CSCP) is a generalist private equity firm that seeks middle market company investments across the US. CSCP looks to partner with management teams to accelerate revenue growth and improve operating efficiency. Sectors of interest include business services, building products, chemicals, consumer products, food products/services, healthcare, aerospace/defense, manufacturing, media, technology, telecommunications, and transportation. Court Square Capital Partners was formerly known as Citigroup Venture Capital Equity Partners. The Group spun out of Citigroup and became independent in 2006. CSCP is based in New York City.

DEAL STATS #
Overall 41 of 56
Sector (Software) 3 of 4
Type (Secondary Buyout) 9 of 18
State (Massachusetts) 2 of 2
Country (United States) 38 of 53
Year (2018) 1 of 2
Size (of disclosed) 2 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-20 Integrated Prescription Management

Fresno, California, United States

Integrated Prescription Management is a full-service pharmacy benefit manager committed to acting as a catalyst of healthy outcomes for its members and the community through collaboration, data integration, and investment in progressive healthcare solutions. IPM is committed to providing members and clients with the tools they need to create positive change and a lifetime of healthy habits, through treatment adherence initiatives, finding affordable long term medication options, and encouraging members to become advocates for their own health. Integrated Prescription Management was founded in 2009 and is based in Fresno, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-17 AFS Technologies

Phoenix, Arizona, United States

AFS Technologies is a provider of fully integrated business software solutions, specifically engineered for the Food and Beverage industries. AFS new Service Oriented Architecture (SOA), based on Web Services and built on Microsoft. NET Framework 2.0, provides its customers with greater IT flexibility, increased scalability of their existing systems, and more powerful functionality, all at an affordable price. AFS Technologies was founded in 1985 and is based in Phoenix, Arizona.

Sell -
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