M&A Deal Summary

EQT, Ardian, HarbourVest Partners and TA Associates Acquire Cast & Crew

On December 10, 2018, private equity firms EQT, Ardian, HarbourVest Partners and TA Associates acquired software company Cast & Crew from Silver Lake

Acquisition Highlights
  • This is EQT’s 8th, Ardian’s 15th, HarbourVest Partners’ 23rd and TA Associates’ 61st transaction in the Software sector.
  • This is EQT’s 23rd, Ardian’s 46th, HarbourVest Partners’ 113th and TA Associates’ 219th transaction in the United States.
  • This is EQT’s 4th, Ardian’s 6th, HarbourVest Partners’ 13th and TA Associates’ 27th transaction in California.

M&A Deal Summary
Date 2018-12-10
Target Cast & Crew
Sector Software
Buyer(s) EQT
Ardian
HarbourVest Partners
TA Associates
Sellers(s) Silver Lake
Deal Type Secondary Buyout
Advisor(s) Moelis & Co.
Morgan Stanley
J.P. Morgan Securities (Financial)
Paul, Weiss, Rifkind, Wharton & Garrison (Legal)

Target

Cast & Crew

Burbank, California, United States
Cast & Crew is a provider of software and services to the entertainment production industry. Cast & Crew's software products and services assist in the areas of payroll & human resources, accounting & financial, and workflow & productivity. Cast & Crew was founded in 1976 and is based in Burbank, California.

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Buyer(S) 4

Buyer

EQT

Stockholm, Sweden

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 242.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

EQT is a global private equity group that purses a variety of investment strategies around the world. EQT is divided into several investment disciplines, including private capital, real assets, credit, and venture. The Firm's private capital group targets large, market-leading enterprises (investment size of €125 to €1.5 billion) across Europe and the US, as well as mid-market, growth companies (investment size of €40 to €125 million) across the US, Europe, China, and Southeast Asia. The Firm's real assets group seeks to identify control or co-control equity investments (investment size of €500 to €1 billion) in medium-sized infrastructure companies that provide an essential service to society, are recession resilient, and have secure cash flows. EQT's credit group provides flexible, long-term debt capital solutions to medium-sized European businesses, across a wide range of sectors. EQT was established in 1994 and is headquartered in Stockholm, Sweden.

DEAL STATS #
Overall 195 of 317
Sector (Software) 8 of 14
Type (Secondary Buyout) 50 of 97
State (California) 4 of 11
Country (United States) 23 of 59
Year (2018) 16 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-01 Stendörren

Stockholm, Sweden

Stendörren operates as a real estate company. The company owns, develops, and manages warehouses, logistics, industrial premises. Stendörren was founded in 1995 and is based in Stockholm, Sweden.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-01 Karo Healthcare

Stockholm , Sweden

Karo Healthcare is a specialty pharmaceutical company in the Nordics. The company develops and markets products for pharmacies and directly to the healthcare sector. The product portfolio includes over-the-counter and prescription pharmaceuticals as well as medical devices. Karo Healthcare was incorporated in 1987 and is based in Stockholm, Sweden.

Buy -
Buyer

Ardian

Paris, France

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1996
PE ASSETS 125.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ardian is a mega-sized diversified investment group focused on opportunities worldwide. Ardian invests across and manages funds focused on small and mid-sized buyouts, growth capital financings, mezzanine, infrastructure, real estate, and co-investment opportunities. Ardian's small-buyouts group targets controlling interests in French, German, and Italian businesses valued up to €100 million. It's mid-sized buyout group seeks businesses valued up €1.5 billion and does not have any geographic limitations. The Infrastructure team looks for European opportunities and can commit up to €150 million per transaction. The Mezzanine group supports junior capital commitments of €5 to €80 million. In addition to direct investing, Ardian also manages various private equity fund-of-funds. Ardian was founded in 1996 and is based in Paris.

DEAL STATS #
Overall 328 of 418
Sector (Software) 15 of 16
Type (Secondary Buyout) 107 of 137
State (California) 6 of 6
Country (United States) 46 of 59
Year (2018) 22 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-28 Neopharmed Gentili

Milan, Italy

Neopharmed Gentili is an Italian pharmaceutical group focused on the research, development, production, and distribution of medicines in many therapeutic areas such as vascular and cardio-metabolic areas, pneumatological areas, antibiotics, OTCs, and supplements. Neopharmed Gentili was founded in 2011 and is based in Milan, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-20 Ebuyclub.com

France

Founded in 2000, eBuyClub is a company positioned as a purchasing social network and offers various Internet services to facilitate on-line purchases and create savings. eBuyClub develops and offers services to achieve cash-savings with a cash back website, a price comparison website, codes and promotional services in physical stores.

Sell -
Buyer

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

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 192 of 223
Sector (Software) 23 of 26
Type (Secondary Buyout) 42 of 55
State (California) 13 of 19
Country (United States) 113 of 134
Year (2018) 25 of 25
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-13 SRS Acquiom

Denver, Colorado, United States

SRS Acquiom is a provider of technology-enabled services related to M&A settlement support and risk mitigation. SRS Acquiom provides an integrated platform for professional services, technology solutions, and data that enables corporate acquirers, private equity firms and venture capital firms to navigate the complex M&A deal execution process more efficiently. SRS Acquiom was founded in 2007 and is based in Denver, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-01 Hermetic Solutions Group

Trevose, Pennsylvania, United States

Hermetic Solutions Group is a provider of advanced hermetic packaging and components designed to ensure critical electronic systems function reliably in demanding environments where it is essential to control for factors such as weight, space, vibration, temperature, moisture and off-gassing. Hermetic Solutions Group was founded in 2016 and is based in Pennsylvania, United States.

Buy -
Buyer

TA Associates

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1968
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TA Associates is a private equity firm that targets investments in middle-market and large companies around the world. TA will consider control or minority investments in profitable companies and looks to commit between $70 and $500 million per transaction. TA proactively reaches out to companies directly in sourcing potential investment opportunities. Prospective businesses are generally valued between $100 million and $3 billion. Areas of interest include technology, software, communications, financial services, healthcare, business services, semiconductors/electronics, and consumer products/services. In addition to investing equity capital, TA also makes subordinated debt investments. TA's geographic preference is North America, Asia/Pacific, and Europe. TA Associates was formed in 1968 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 284 of 364
Sector (Software) 61 of 86
Type (Secondary Buyout) 41 of 69
State (California) 27 of 35
Country (United States) 219 of 263
Year (2018) 11 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-28 Plusgrade

Montreal, Quebec, Canada

Plusgrade provides revenue solutions to airline, hospitality, cruise, passenger rail, and financial services companies. Plusgrade was founded in 2009 and is based in Montreal, Quebec.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-20 PhysIOL S.A.

Liège, Belgium

PhysIOL S.A. is a provider of intraocular lenses (IOLs). The company serves the world of ophthalmology through design, manufacture, and marketing of advanced intraocular lenses for cataract surgery. PhysIOL was formed in 1986 and is based in Liège, Belgium.

Sell -

Seller(S) 1

SELLER

Silver Lake

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 104.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Silver Lake is a mega-sized private equity firm focused on a broad range of growth investments in and acquisitions of technology companies. Silver Lake is subdivided into several investing groups including Silver Lake Partners, Silver Lake Sumeru, Silver Lake Waterman, Silver Lake Alpine, and Silver Lake Kraftwerk. Silver Lake Partners pursues large-scale private investments in companies within the technology, tech-enabled and related growth industries. Silver Lake Sumeru invests in middle market technology companies with established business models and attractive growth prospects where there is an opportunity to create value through operational transformation. Silver Lake Waterman provides growth capital to later-stage companies in the technology and technology-enabled industries, offering flexible solutions to finance expansion and acquisitions. Silver Lake Alpine is Silver Lake's debt and credit investing arm. Silver Lake Kraftwerk provides growth capital to technology and tech-enabled businesses driving efficiency across the operations, energy, and resources industries. Silver Lake Partners was formed in 1999 is headquartered in Menlo Park, California.

DEAL STATS #
Overall 45 of 64
Sector (Software) 10 of 15
Type (Secondary Buyout) 8 of 9
State (California) 13 of 19
Country (United States) 34 of 50
Year (2018) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-09 SolarWinds

Austin, Texas, United States

SolarWinds provides hybrid IT infrastructure management software to customers worldwide from Fortune 500 enterprises to small businesses, government agencies and educational institutions. SolarWinds was founded in 1999 and is based in Austin, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-13 ServiceMax

Pleasanton, California, United States

ServiceMax is a provider of field services management software solutions for technicians and offers complete end-to-end mobile and cloud-based technology for the sector. ServiceMax was founded in 1999 and is based in Pleasanton, California.

Buy -
Mergr

Product

Company

Legal