M&A Deal Summary

BPOC and Five Arrows Acquire Bridgeway Benefit Technologies

On January 6, 2022, private equity firms BPOC and Five Arrows acquired software company Bridgeway Benefit Technologies from WindRose Health Investors

Acquisition Highlights
  • This is BPOC’s 1st and Five Arrows’ 9th transaction in the Software sector.
  • This is BPOC’s 37th and Five Arrows’ 7th transaction in the United States.
  • This is BPOC’s 2nd and Five Arrows’ 1st transaction in Maryland.

M&A Deal Summary

Date 2022-01-06
Target Bridgeway Benefit Technologies
Sector Software
Buyer(s) BPOC
Five Arrows
Sellers(s) WindRose Health Investors
Deal Type Secondary Buyout

Target

Bridgeway Benefit Technologies

Baltimore, Maryland, United States
Bridgeway Benefit Technologies is a provider of specialized business administration software for the Taft-Hartley community, providing technology solutions for fund offices, national multiemployer plans, and third-party administrators across the United States and Canada. Bridgeway Benefit Technologies was founded in 1977 and is based in Baltimore, Maryland.

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Buyer(S) 2

Buyer

BPOC

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1996
PE ASSETS 1.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Beecken Petty O'Keefe & Company (BPOC) is a specialist private equity firm that targets investments in middle-market healthcare companies. Specific areas of interest within healthcare include, specialty distribution; provider and payor outsourcing; pharmacy, infusion, and home healthcare; outpatient an alternate site services; and medical products manufacturing with a focus on capital equipment. The Firm focuses on recapitalizations, buyouts, and growth capital investments. BPOC was formed in 1996 and is based in Chicago, Illinois.


DEAL STATS #
Overall 38 of 41
Sector (Software) 1 of 1
Type (Secondary Buyout) 13 of 13
State (Maryland) 2 of 2
Country (United States) 37 of 40
Year (2022) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-22 Alliance

Grand Rapids, Michigan, United States

Alliance is a national physical therapy operator offering outpatient physical therapy across a network of 90+ clinics in 14 states. Alliance offers virtual physical therapy, a workplace therapy solution, in-hospital services, and a comprehensive electronic medical record platform. Alliance was founded in 2017 and is headquartered in Grand Rapids, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-07 Network Partners Group

Warsaw, Indiana, United States

Networking Partners Group is a provider of packaging services to medical device and pharmaceutical companies. Networking Partners Group was founded in 2015 and is based in Warsaw, Indiana.

Buy -
Buyer

Five Arrows

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
PE ASSETS 24.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Five Arrows Principal Investments is a mid-cap investor in Western European companies. Five Arrows can invest across the capital structure (equity, equity-linked, mezzanine, convertible debt) and generally focused on primary or secondary buyouts, growth financings, and balance sheet restructurings. The Group does not have any sector preferences, but typically looks for businesses with high barriers to entry and predictable earnings. Five Arrows can commit €30 to €400 million per investment. Five Arrows is a unit of Rothschild Bank. The Group has offices in Paris, Luxembourg, and London.


DEAL STATS #
Overall 44 of 55
Sector (Software) 9 of 10
Type (Secondary Buyout) 25 of 33
State (Maryland) 1 of 1
Country (United States) 7 of 9
Year (2022) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-15 KidsKonnect

Haarlem, Netherlands

KidsKonnect is a childcare software provider that offers solutions for daycare centres, out-of-school care, childminder organizations and primary education centers. KidsKonnect serves more than one million children in the Netherlands and Belgium via its integrated platform. KidsKonnect was founded in 1991 and is based in Haarlem, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-01 Intescia

Issy-Les-Moulineaux, France

Intescia is a provider of B2B tender database and tender management solutions. The company provides data, analytics and workflow solutions through 5 brands allowing suppliers to identify relevant tender opportunities (Double Trade in France and Spain, Telemat in Italy), automatically respond to tenders (Spigao), identify relevant commercial prospects (Corporama) and assess trade counterparty risk (Scores & Decisions). Intescia was founded in 1986 and is based in Issy les Moulineaux, France.

Buy -

Seller(S) 1

SELLER

WindRose Health Investors

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 2.5B USD
Size Large
Type Sector Focused
DESCRIPTION

MTS Health Investors LLC is a specialist private investment firm focused on opportunities in the services sectors of the healthcare industry. Specific areas of interest include managed care/health insurance, healthcare providers, distributors of medical/products and providers of outsourced services. MTS also invests in low-technology medical product manufacturers. MTS makes equity investments in US based companies valued between $25 and $300 million. Prospective transaction types include buyouts, divestitures, recapitalizations, take-privates, acquisition financings, and growth financings. MTS Health Investors was formed in 2000 and is based in New York City.


DEAL STATS #
Overall 23 of 26
Sector (Software) 1 of 1
Type (Secondary Buyout) 7 of 7
State (Maryland) 1 of 2
Country (United States) 23 of 26
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-05 Altruix

Annapolis, Maryland, United States

Altruix is a closed-door specialized pharmacy that primarily serves individuals diagnosed with severe and persistent mental illnesses in the Mid-Atlantic region. The Company serves this population through high-touch distribution relationships with community-based behavioral health agencies and long-term care facilities, enabling improved medication adherence and care management for complex and costly patient populations. Altruix is based in Annapolis, Maryland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-27 RevHealth

Morristown, New Jersey, United States

RevHealth is an independent provider of omnichannel healthcare communications, supporting pharma, biotech, device, and other healthcare clients with professional promotion, medical education, and patient education and advocacy communication services. RevHealth was founded in 2006 and is based in Morristown, New Jersey.

Buy -