M&A Deal Summary

Curvature Acquires Systems Maintenance Services

On January 18, 2017, Curvature acquired information technology company Systems Maintenance Services from Partners Group AG, Antares Capital and Crescent Capital Group

Acquisition Highlights
  • This is Curvature’s 1st transaction in the Information Technology sector.
  • This is Curvature’s 2nd transaction in the United States.
  • This is Curvature’s 1st transaction in North Carolina.

M&A Deal Summary

Date 2017-01-18
Target Systems Maintenance Services
Sector Information Technology
Buyer(s) Curvature
Sellers(s) Partners Group AG
Antares Capital
Crescent Capital Group
Deal Type Merger

Target

Systems Maintenance Services

Charlotte, North Carolina, United States
Systems Maintenance Services is a global provider of multivendor IT asset lifecycle services and support solutions. SMS’ advanced service portfolio includes: asset management, deployment, relocation, disposition, recycling, erasure, maintenance, and managed network and VOIP services. SMS supports more than 3,000 clients globally with physical locations across North America, Asia and Europe. SMS’ solutions include support for most datacenter brands including Cisco, IBM, HP, Dell, Oracle, EMC, Hitachi, NetApp, Lexmark and Xerox. Systems Maintenance Services was founded in 1981 and is based in Charlotte, North Carolina.

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Buyer(S) 1

Buyer

Curvature

Charlotte, North Carolina, United States

Category Company
Founded 1986
Sector Technology Hardware
DESCRIPTION

Curvature, Inc. is a provider in independent IT maintenance and support for storage, server and network hardware. Extend asset life cycle, decrease OpEx and delay CapEx. Curvature was founded in 1986 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 2 of 2
Sector (Information Technology) 1 of 1
Type (Merger) 1 of 1
State (North Carolina) 1 of 1
Country (United States) 2 of 2
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-06 CSU Industries

Inwood, New York, United States

CSU Industries, Inc. is a provider of third-party maintenance and support services. CSU Industries a telecommunications carriers and mission-critical financial services company.

Buy -

Seller(S) 3

SELLER
DESCRIPTION

Partners Group is a global investment management firm with a variety of funds and institutional clients. The Firm's direct investment group looks to invest in or acquire market leading companies with growth opportunities linked to technology. Partners is a hands-on investor and looks to actively support its portfolio companies with expansion, operational, and governance structure support. Partners Group was established in 1996 and is headquartered in Zug, Switzerland.


DEAL STATS #
Overall 7 of 25
Sector (Information Technology) 2 of 3
Type (Merger) 1 of 2
State (North Carolina) 1 of 3
Country (United States) 5 of 11
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-11 GlobalLogic

McLean, Virginia, United States

GlobalLogic is a full-lifecycle product development services leader that combines chip-to-cloud software engineering expertise and vertical industry experience to help our customers design, build, and deliver their next generation products and digital experiences. We expertly integrate design, complex engineering, and agile delivery capabilities to deliver superior business outcomes for global brands. Headquartered in Silicon Valley, GlobalLogic operates design studios and engineering centers around the world, extending the benefits of our true global presence to customers in telecom, automotive, healthcare, technology, media and entertainment, manufacturing, and semiconductor industries. GlobalLogic was founded in 2000 and is based in McLean, Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-22 Cerba European Lab

Saint-Ouen-l'Aumône, France

Laboratoire CERBA SA is active in all three segments of the clinical pathology business, namely esoteric, routine and central lab. CEL operates in 34 locations across Europe, the United States, South Africa, Australia and China. It has a staff of over 1,300 employees, including 85 clinical pathologists and performs 85,000 tests daily.

Buy -
SELLER

Antares Capital

Miami, Florida, United States

Investor Investor


Category Private Equity Firm
Founded 1993
Size Small
Type Sector Agnostic
DESCRIPTION

Antares Capital is a private investment group that targets growth capital financings as well as management buyout opportunities. The Firm focuses on investments based in the Southeast US and Texas. Prospective companies generally have proven business models, modest capital requirements for growth, and operate in large and growing markets. The Firm looks to commit $500k to $5 million per investment. Antares will not invest in real estate, mineral exploration, distributors, franchisees, or project financings. Antares was founded in 1993 and is based in Miami, Florida.


DEAL STATS #
Overall 28 of 44
Sector (Information Technology) 2 of 3
Type (Merger) 1 of 1
State (North Carolina) 1 of 2
Country (United States) 27 of 43
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-17 Nuspire

Detroit, Michigan, United States

Nuspire is a provider of managed security services delivering threat detection and remediation through a skilled team of experts, advanced R&D, and proprietary solutions that merge big data and deep human analytics. Nuspire was founded in 1999 and is based in Detroit, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-14 Race Winning Brands

Mentor, Ohio, United States

Race Winning Brands is a designer, manufacturer, and distributor of branded automotive aftermarket and powersports aftermarket products for enthusiast and racing consumers. RWB consists of a 12-brand portfolio of high-performance aftermarket product categories, with applications across a diverse group of automotive and powersports vehicle segments. According to industry research, the enthusiast powersport segment has seen annualized growth of 10-15 percent over the last 18 months with forecasted growth of six to eight percent over the next 12 months. Racing Winning Brands is based in Mentor, Ohio.

Buy -
SELLER

Crescent Capital Group

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1991
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Crescent Capital is a provider of debt securities to middle-market companies. Crescent looks to issue senior bank loans, high yield bonds, mezzanine debt and distressed debt to fund a variety of needs. The FIrm's direct lending group looks to provide $10 to $30 million to sponsor-backed companies that generate $5 to $35 million of EBITDA. Crescent's mezzanine practice typically provides junior capital to support buyouts, recapitalizations, and refinancings. Crescent Capital was formed in 1991 and was originally known as TCW/Crescent Mezzanine. The Firm has offices in Los Angeles, Boston, New York, and London.


DEAL STATS #
Overall 38 of 47
Sector (Information Technology) 3 of 4
Type (Merger) 1 of 1
State (North Carolina) 2 of 2
Country (United States) 32 of 40
Year (2017) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-19 Brown Jordan

St. Augustine, Florida, United States

Brown Jordan is a designer, manufacturer and marketer of quality home furnishings and contract furnishings, selling a full range of products. Brown Jordan International offers innovative designs, superior quality, efficient production methods and a strong portfolio of recognized brands including Brown Jordan, Winston, Casual Living Worldwide, Charter, Tropitone and Texacraft. Brown Jordan is based in St. Augustine, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-15 Werner

Itasca, Illinois, United States

WernerCo is a fully-integrated, international manufacturer and distributor of access products, fall protection equipment, secure storage systems and light duty construction equipment. Its portfolio of industry leading brands include Werner, KNAACK®, WEATHER GUARD®, Youngman®, BoSS®, Centaure, Duarib, Haemmerlin and Bailey. WernerCo is based in Itasca, Illinois.

Sell -