M&A Deal Summary |
|
|---|---|
| Date | 2017-07-18 |
| Target | Lightower Fiber Networks |
| Sector | Communications |
| Buyer(s) | Crown Castle |
| Sellers(s) |
Pamlico Capital
M/C Partners Peppertree Capital Berkshire Partners ABRY Partners HarbourVest Partners Ridgemont Equity Partners |
| Deal Type | Add-on Acquisition |
| Deal Value | 7.1B USD |
| Advisor(s) | Evercore Group Citi (Financial) Ropes & Gray (Legal) |
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| Category | Company |
|---|---|
| Sector | Communications |
| Employees | 4,700 |
| Revenue | 7.0B USD (2023) |
Crown Castle operates and leases shared wireless infrastructure, distributed antenna systems, and interests in land under third party towers. The Company's core business is providing access, including space or capacity, to towers, and to a lesser extent, to small cells and third party land interests via long-term contracts, including license, sublease and lease agreements. Crown Castle is based in Houston, Texas.
| DEAL STATS | # |
|---|---|
| Overall | 9 of 9 |
| Sector (Communications) | 7 of 7 |
| Type (Add-on Acquisition) | 8 of 8 |
| State (Massachusetts) | 2 of 2 |
| Country (United States) | 9 of 9 |
| Year (2017) | 2 of 2 |
| Size (of disclosed) | 1 of 9 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2017-04-17 |
Wilcon Operations
Los Angeles, California, United States Wilcon Operations LLC is a provider of fiber optic network infrastructure in Southern California connecting major colocation facilities, data centers and enterprise locations. Wilcon Operations LLC was established in 1998 and is headquartered in Los Angeles, California. |
Buy | $600M |
| Category | Private Equity Firm |
|---|---|
| Founded | 1988 |
| PE ASSETS | 3.5B USD |
| Size | Large |
| Type | Sector Agnostic |
Pamlico Capital is a private equity group focused on mid-sized transactions. Pamlico looks to invest $25 to $125 million per transaction. Sectors of interest include business and technology services, consumer products/services, industrial, energy, financial services, healthcare, media, and communications. Pamlico will consider both minority and majority positions. Prospective transactions include management or leveraged buyouts, recapitalizations, growth financings, mezzanine, and special situations. Pamlico was formerly known as Wachovia Capital Partners. The Firm was originally formed in 1988 and is based in Charlotte, North Carolina.
| DEAL STATS | # |
|---|---|
| Overall | 42 of 61 |
| Sector (Communications) | 7 of 8 |
| Type (Add-on Acquisition) | 20 of 32 |
| State (Massachusetts) | 2 of 2 |
| Country (United States) | 40 of 59 |
| Year (2017) | 3 of 4 |
| Size (of disclosed) | 3 of 14 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2017-07-12 |
Dexter & Chaney
Seattle, Washington, United States Dexter & Chaney, Inc. is a provider of ERP software to the construction industry. Dexter & Chaney product, Spectrum® Construction Software, is an integral component of daily operations for more than 1,000 contractors, and is the industry’s first construction management platform to utilize true cloud-based technology with an intuitive web browser interface. Dexter & Chaney, Inc. was established in 1981 and is headquartered in Seattle, Washington. |
Sell | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2017-09-19 |
Cartegraph
Dubuque, Iowa, United States Cartegraph is a provider of SaaS-based asset management solutions to local governments. The company devotes itself to cities, counties, and government agencies seeking to be more effective, efficient, and productive in their daily operations. It builds software that empowers users to capture infrastructure asset data, analyze it, and use it to prepare for the future. Cartegraph was established in 1994 and is based in Dubuque, Iowa. |
Buy | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 1986 |
| PE ASSETS | 2.4B USD |
| Size | Large |
| Type | Sector Focused |
M/C Partners is a private equity and venture capital firm that targets communications, media and information technology companies throughout the US, Canada and Europe. M/C looks to invest $10 to $50 million per transaction and is usually the first institutional investor in its portfolio companies. Areas of interest include cable system operators, wireline communications services, fixed wireless broadband operators, media/content, mobile wireless data software and services and operators, wireless tower operators and on-demand software companies. Prospective transaction types include buyouts, growth capital and seed capital financing. M/C partners was formerly known as Chestnut Street Partners. M/C Partners was founded in 1986. The Firm is based in Boston with additional offices in San Francisco and London.
| DEAL STATS | # |
|---|---|
| Overall | 24 of 31 |
| Sector (Communications) | 18 of 21 |
| Type (Add-on Acquisition) | 14 of 16 |
| State (Massachusetts) | 1 of 2 |
| Country (United States) | 19 of 26 |
| Year (2017) | 1 of 1 |
| Size (of disclosed) | 1 of 15 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2017-07-10 |
Neutral Connect Networks
West Palm Beach, Florida, United States Neutral Connect Networks is an independent owner and operator of wireless communications infrastructure. Neutral Connect Networks primary focus is building and operating multi-carrier neutral host DAS and small cell networks in venues and buildings throughout North America. Neutral Connect Networks was established in 2011 and is headquartered in West Palm Beach, Florida. |
Buy | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2018-03-09 |
Everstream
Cleveland, Ohio, United States Everstream is a super-regional network service provider bringing fiber-based Ethernet, internet and data center solutions to businesses throughout the Midwest. We are the Business Fiber Network. We focus on delivering best-in-class network solutions while providing an unrivaled commitment to customer service. With more than 10,000 route miles and comprehensive data center connectivity at 100 Gigabit speed, we provide the fastest network in our service areas. Everstream’s network allows businesses to operate a converged IP network capable of delivering robust voice, video, and data services at speeds from 10 Mbps to 100 Gbps. Everstream was founded in 2012 and is based in Cleveland, Ohio. |
Sell | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 2003 |
| PE ASSETS | 4.8B USD |
| Size | Large |
| Type | Sector Focused |
Peppertree Capital is a private equity firm that targets investments in mid to large-sized wireless telecommunication infrastructure companies. Peppertree focuses on growing companies with recurring, predictable cash-flows, and led by management with proven track records. Specific areas of interest include communication rooftop developers, fiber network operators, and related real estate projects. Target transaction types include buyouts, recapitalizations and growth capital financings. Peppertree Capital was formed in 2003 and is based in Chagrin Falls, Ohio.
| DEAL STATS | # |
|---|---|
| Overall | 10 of 10 |
| Sector (Communications) | 6 of 6 |
| Type (Add-on Acquisition) | 6 of 6 |
| State (Massachusetts) | 1 of 1 |
| Country (United States) | 10 of 10 |
| Year (2017) | 1 of 1 |
| Size (of disclosed) | 1 of 4 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2013-07-10 |
AC Lordi
Malvern, Pennsylvania, United States AC Lordi Corp. is a provider of accounting and risk management consulting and executive search. |
Sell | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2018-12-14 |
TowerCo.
Cary, North Carolina, United States TowerCo. LLC develops and owns wireless communications towers and leases the towers' capacity to communications service providers. In addition to leasing towers, the company also markets and manages third-party towers for regional carriers. |
Buy | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 1984 |
| PE ASSETS | 16.0B USD |
| Size | Mega |
| Type | Sector Agnostic |
Berkshire Partners is a private equity firm focused on investing in businesses with strong management and that lead their respective markets. Berkshire will consider investments in both public and private companies. Prospective transactions for private companies include leveraged buyouts, recapitalizations, growth capital financings, and privatizations. Public company transactions include take-privates, PIPEs, and equity stakes. Berkshire generally looks to invest $150 to $500 million of equity capital per transaction in companies valued up to $2 billion. Sectors of interest include industrial manufacturing, consumer products, retailing, transportation, communications and business services. Berkshire Partners was formed in 1984 and is based in Boston, Massachusetts.
| DEAL STATS | # |
|---|---|
| Overall | 46 of 61 |
| Sector (Communications) | 3 of 4 |
| Type (Add-on Acquisition) | 16 of 20 |
| State (Massachusetts) | 7 of 8 |
| Country (United States) | 41 of 52 |
| Year (2017) | 2 of 6 |
| Size (of disclosed) | 1 of 16 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2017-06-22 |
Melissa & Doug
Wilton, Connecticut, United States Melissa & Doug is a designer and manufacturer of children’s toys, including wooden puzzles, arts & crafts products, plush toys and other educational toys. Melissa & Doug was founded in 1988 and is based in Wilton, Connecticut. |
Sell | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2017-09-14 |
Curriculum Associates
North Billerica, Massachusetts, United States Curriculum Associates is a provider of technology-enabled assessment and instructional programs for elementary and middle school students, teachers and administrators. The company’s adaptive assessments, personalized learning materials and exceptional customer service help students achieve their full potential and make teachers more effective. Curriculum Associates was founded in 1969 and is based in North Billerica, Massachusetts. |
Buy | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 1989 |
| PE ASSETS | 12.8B USD |
| Size | Mega |
| Type | Sector Focused |
ABRY Partners is a media and communications focused private equity investment firm. Specific areas of interest include television, publishing, convention/trade shows, for-profit training, couponing, monitoring services, telephone companies, communications towers, music libraries, database providers, wireless communications, and in-store advertisers. ABRY can provide both equity and mezzanine capital, typically committing $20 to $200 million of equity or $15 to $50 million of mezzanine capital per transaction. Prospective transaction situations include buyouts, expansion financings, platform acquisitions, consolidations, and recapitalizations. ABRY Partners was formed in 1989 and is headquartered in Boston, Massachusetts.
| DEAL STATS | # |
|---|---|
| Overall | 70 of 103 |
| Sector (Communications) | 14 of 15 |
| Type (Add-on Acquisition) | 37 of 53 |
| State (Massachusetts) | 6 of 6 |
| Country (United States) | 61 of 88 |
| Year (2017) | 8 of 11 |
| Size (of disclosed) | 1 of 29 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2017-06-01 |
CIBT
McLean, Virginia, United States CIBT is a global provider of mobility services including visa, passport, and immigration documentation. CIBT serves multinational corporations, global travel management companies, tour and cruise operators, government agencies, and individual travelers. CIBT’s services simplify the time-consuming and complicated process of obtaining required travel documents and work authorizations, while providing an accurate and compliant service for corporate customers. CIBT was founded in 1989 and is based in McLean, Virginia. |
Sell | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2017-08-11 |
RIMES
New York, New York, United States RIMES is a provider of managed data services and regulatory solutions for the buy side. RIMES is a pioneer provider of cloud-based technology that delivers highly customized financial data over the Internet. RIMES was founded in 1996 and is based in New York City. |
Buy | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 1978 |
| PE ASSETS | 86.0B USD |
| Size | Mega |
| Type | Sector Agnostic |
HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.
| DEAL STATS | # |
|---|---|
| Overall | 85 of 134 |
| Sector (Communications) | 10 of 11 |
| Type (Add-on Acquisition) | 33 of 58 |
| State (Massachusetts) | 6 of 6 |
| Country (United States) | 53 of 85 |
| Year (2017) | 5 of 12 |
| Size (of disclosed) | 5 of 40 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2017-06-28 |
Staples
Framingham, Massachusetts, United States Staples is an office supply retailer. Staples sells and distributes a variety of office products for consumers as well as small to large companies around the world. Staples was founded in 1985 and is based in Framingham, Massachusetts. |
Buy | $6.9B |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2017-07-21 |
Klarna
Stockholm, Sweden Klarna offers safe and easy-to-use payment solutions to e-stores in Europe with the ambition to make e-commerce safer, simpler and more fun. At the core of Klarna's services is the concept of after delivery payment, which lets buyers receive ordered goods before any payment is due. At the same time, Klarna assumes all credit and fraud risk for e-stores so that sellers can rest assured that they will always receive their money. Klarna was founded in 2005 and is based in Stockholm, Sweden. |
Buy | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 1993 |
| PE ASSETS | 7.0B USD |
| Size | Mega |
| Type | Sector Agnostic |
Ridgemont Equity Partners is an independent private equity firm specializing in middle-market buy-outs, corporate divestitures, recapitalizations and growth capital investments. The Firm targets to invest in companies located in North America, preferably in US and Canada. REP looks to invest up to $500 million in companies with EBIDTA of $5 - $50 million. The Firm seeks to hold both majority and minority equity interest in portfolio companies. Specific areas of interest include basin industries and services, energy, healthcare, telecommunications, media and technology. Ridgemont Equity Partners is a spun-off of Banc of America Capital Investors (BACI). Ridgemont Equity Partners was formed in August 2010 and is based in Charlotte, North Carolina.
| DEAL STATS | # |
|---|---|
| Overall | 75 of 91 |
| Sector (Communications) | 7 of 9 |
| Type (Add-on Acquisition) | 27 of 36 |
| State (Massachusetts) | 2 of 2 |
| Country (United States) | 64 of 80 |
| Year (2017) | 2 of 3 |
| Size (of disclosed) | 1 of 23 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2017-04-04 |
Dickinson Fleet Services
Indianapolis, Indiana, United States Dickinson Fleet Services LLC is a provider of on-site mobile maintenance and repair services nationwide, offering mobile on-site fleet service for light medium, and heavy-duty trucks and trailers. Dickinson Fleet Services was founded in 1997 and is headquartered in Indianapolis, Indiana. |
Buy | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2017-07-20 |
HemaSource
Salt Lake City, Utah, United States HemaSource is a technology-enabled distributor of medical products to the plasma collection industry. HemaSource utilizes a proprietary cloud-based inventory management and business intelligence software solution to help its customers gain supply chain efficiencies and decrease their plasma collection costs. HemaSource was founded in 1998 and is based in Salt Lake City, Utah. |
Buy | - |
