M&A Deal Summary

Challenger Acquires Evanta

On April 4, 2016, Challenger acquired business services company Evanta from Leeds Equity Partners and Prospect Capital Management for 275M USD

Acquisition Highlights
  • This is Challenger’s 9th transaction in the Business Services sector.
  • This is Challenger’s 2nd largest (disclosed) transaction.
  • This is Challenger’s 8th transaction in the United States.
  • This is Challenger’s 1st transaction in Oregon.

M&A Deal Summary

Date 2016-04-04
Target Evanta
Sector Business Services
Buyer(s) Challenger
Sellers(s) Leeds Equity Partners
Prospect Capital Management
Deal Type Add-on Acquisition
Deal Value 275M USD
Advisor(s) JEGI Clarity (Financial)
Goodwin Procter (Legal)

Target

Evanta

Portland, Oregon, United States
Evanta Inc. is a provider of immersive leadership development programs for high-potential executives also in partnership with MIT Sloan School of Management, University of Texas McCombs School of Business, University of Chicago Booth School of Business and UC Berkeley Haas School of Business.

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Buyer(S) 1

Buyer

Challenger

Arlington, Virginia, United States

Category Company
Founded 1979
Sector Internet Software and Services
Employees4,600
Revenue 950M USD (2016)
DESCRIPTION

Challenger is a global performance improvement platform that delivers a comprehensive portfolio of solutions focused on sales marketing and customer service training through in-person workshops, eLearning and workflow tools, diagnostic and assessment offerings, and other sales acceleration modules. Underpinned by the world-renowned, research-based Challenger and Effortless Experience methodologies, its solutions help enterprises adopt, develop, communicate, and implement more effective commercial strategies on a global scale. Challenger was founded in 1979 and is based in Arlington, Virginia.


DEAL STATS #
Overall 12 of 12
Sector: Business Services M&A 9 of 9
Type: Add-on Acquisition M&A Deals 12 of 12
State: Oregon M&A 1 of 1
Country: United States M&A 8 of 8
Year: 2016 M&A 1 of 1
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-11 Wanted Technologies

Quebec City, Quebec, Canada

Wanted Technologies Corp. is a provider of real-time market intelligence and analytics for staffing and talent sourcing professionals.

Buy -

Seller(S) 2

SELLER

Leeds Equity Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 4.8B USD
Size Large
Type Sector Focused
DESCRIPTION

Leeds Equity Partners is a specialist private equity firm that targets investments in middle-market companies operating in knowledge industries. Specific areas of interest include education (K-12, postsecondary, at-risk/special education, instruction materials, testing), training (corporate training, professional certification/continuing education, language training), and information/business services (b2b publishing, information databases/research, tradeshows/conferences, business process outsourcing, consulting, staffing, marketing). Leeds prefers investing in established companies that are leaders in their respective markets. Leeds Equity Partners was formed in 1993 and is based in New York, New York.


DEAL STATS #
Overall 13 of 21
Sector: Business Services M&A 1 of 2
Type: Add-on Acquisition M&A Deals 7 of 8
State: Oregon M&A 1 of 1
Country: United States M&A 11 of 19
Year: 2016 M&A 1 of 1
Size (of disclosed) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-01 Project Management Academy

Boston, Massachusetts, United States

Project Management Academy provides best-in-class training for project management professionals. The company provides both in-person and online training for individuals and corporations across the U.S. for project management and related career-critical disciplines. Training for the PMP certification, the leading certification for project managers across multiple industries. Courses in related project management disciplines, including Agile, Six Sigma, Scrum, CAPM, and ITIL. Continuing education for the PMP certification. Project Management Academy is based in Boston, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-08 Simplify Compliance

Brentwood, Tennessee, United States

Simplify Compliance is a provider of learning, events and memberships, and information and workflow solutions to the human capital management, healthcare, financial services and communications end markets. Simplify Compliance is based in Brentwood, Tennessee.

Buy -
SELLER

Prospect Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor


Category Business Development Company
Founded 1988
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Prospect Capital Corporation is a publicly traded mezzanine debt and private equity firm that primarily provides non-control financing to support growth, recapitalizations, acquisitions, and development. Prospect will selectively consider control acquisitions by providing multiple levels of the capital structure. Prospect was initially formed in 1988 and went public 2004. The Firm is based in New York City.


DEAL STATS #
Overall 36 of 48
Sector: Business Services M&A 2 of 2
Type: Add-on Acquisition M&A Deals 14 of 18
State: Oregon M&A 1 of 1
Country: United States M&A 36 of 47
Year: 2016 M&A 3 of 5
Size (of disclosed) 9 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-11 Consolidated Aviation Services

Jamaica, New York, United States

Consolidated Aviation Services is a provider of an import and export cargo handling services. Cargo Airport Services coordinates the process of transferring and releasing cargo between air carriers and ground transportation providers at major airports.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-06 Biotronic NeuroNetwork

Ann Arbor, Michigan, United States

Biotronic NeuroNetwork LLC is a patient centric healthcare organization that provides intraoperative neurophysiological monitoring services to surgeons and healthcare facilities across the U.S.

Sell $98M