M&A Deal Summary

FFL Partners Acquires Abacus Group

On June 29, 2022, private equity firm FFL Partners acquired information technology company Abacus Group from WestView Capital Partners

Acquisition Highlights
  • This is FFL Partners’ 7th transaction in the Information Technology sector.
  • This is FFL Partners’ 46th transaction in the United States.
  • This is FFL Partners’ 2nd transaction in New York.

M&A Deal Summary

Date 2022-06-29
Target Abacus Group
Sector Information Technology
Buyer(s) FFL Partners
Sellers(s) WestView Capital Partners
Deal Type Secondary Buyout
Advisor(s) Guggenheim Securities
Lazard (Financial)
Latham & Watkins
Lowenstein Sandler (Legal)

Target

Abacus Group

New York, New York, United States
Abacus Group is a provider of managed IT solutions and infrastructure for the financial services sector. The Company’s scalable, secure, and highly available private cloud IT platform allows investment managers to run all their technology as a service, providing firms with peace of mind and the ability to focus on their core business without sacrificing performance, security, or resiliency. Abacus Group was founded in 2008 and is based in New York, New York.

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Buyer(S) 1

Buyer

FFL Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 6.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

FFL Partners (formerly known as Friedman Fleischer & Lowe) is a private equity group focused on majority and minority investments in North American middle-market companies. Prospective businesses generally have revenues of $30 to $400 million and are valued between $50 and $300 million. Target situations include ownership restructurings in closely-held and family-owned companies, management buyouts, PIPEs, growth equity fundings, take privates, special situations, and recapitalizations. Sectors of interest include outsourced business services, education and training, marketing and media, consumer products, healthcare, and financial services. FFL Partners was formed in 1997 and is based in San Francisco, California.


DEAL STATS #
Overall 50 of 54
Sector: Information Technology M&A 7 of 8
Type: Secondary Buyout M&A Deals 15 of 16
State: New York M&A 2 of 2
Country: United States M&A 46 of 50
Year: 2022 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-18 Perlman Clinic

San Diego, California, United States

Perlman Clinic is an independent primary care provider in San Diego, offering a wide range of integrated clinical services including urgent care, pediatrics, mental health, and a variety of sub⁠-⁠specialties. The company partners with payors across a variety of payment models including fee⁠-⁠for⁠-⁠service and capitated risk⁠-⁠bearing contracts. Perlman Clinic was founded in 2005 and is based in San Diego, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-08 Accordion Partners

New York, New York, United States

Accordion Partners is a private equity-focused financial and technology consulting firm. Working at the intersection of sponsors and management teams, Accordion partners with clients at every stage of the investment lifecycle. Accordion Partners was founded in 2009 and is based in New York City.

Sell -

Seller(S) 1

SELLER

WestView Capital Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 2.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

WestView Capital Partners is a private equity firm focused on investing in lower middle-market companies. WestView looks to commit between $20 and $100 million in a variety of recapitalization, growth financing, buyout and consolidation transactions. Prospective companies generally exhibit consistent growth and financial performance as well as sustainable competitive advantages and market position. Sectors of interest include business services, industrial and manufacturing, distribution and logistics, consumer products and retail, healthcare services, environmental services, and media/publishing. The Firm's geographic preference is North America. WestView Capital Partners was formed in 2004 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 31 of 35
Sector: Information Technology M&A 8 of 10
Type: Secondary Buyout M&A Deals 12 of 13
State: New York M&A 3 of 3
Country: United States M&A 31 of 35
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-25 Summit 7

Huntsville, Alabama, United States

Summit 7 provides cybersecurity and compliance solutions for the Aerospace and Defense industry and corporate enterprises. Summit 7 is based in Huntsville, Alabama.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-25 Purple Strategies

Alexandria, Virginia, United States

Purple Strategies is a fully integrated corporate reputation strategy firm, inspired by politics, driven by data and insights, partnering with Fortune 500 companies and the most recognizable brands in the world to anticipate, navigate, and compel change. Purple Strategies was founded in 2008 and is based in Alexandria, Virginia.

Buy -