M&A Deal Summary

Five Arrows, The Riverside Company and Providence Equity Partners Acquire n2y

On April 4, 2023, private equity firms Five Arrows, The Riverside Company and Providence Equity Partners acquired internet software and services company n2y from Providence Equity Partners and The Riverside Company

Acquisition Highlights
  • This is Five Arrows’ 7th, The Riverside Company’s 19th and Providence Equity Partners’ 15th transaction in the Internet Software and Services sector.
  • This is Five Arrows’ 8th, The Riverside Company’s 194th and Providence Equity Partners’ 83rd transaction in the United States.
  • This is Five Arrows’ 1st, The Riverside Company’s 17th and Providence Equity Partners’ 3rd transaction in Ohio.

M&A Deal Summary

Date 2023-04-04
Target n2y
Sector Internet Software and Services
Buyer(s) Five Arrows
The Riverside Company
Providence Equity Partners
Sellers(s) Providence Equity Partners
The Riverside Company
Deal Type Secondary Buyout

Target

n2y

Huron, Ohio, United States
n2y is a developer of education curricula and teaching materials for K-12 students with special needs. n2y offers its products to teachers and school administrators through a cloud-based subscription platform. n2y’s core products include Unique Learning System, a standards-based curriculum program designed specifically for students with special needs; news-2-you, a weekly current events newspaper; and SymbolStix, a symbol-based language used in learning materials. n2y was founded in 1997 and is based in Huron, Ohio.

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Buyer(S) 3

Buyer

Five Arrows

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
PE ASSETS 24.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Five Arrows Principal Investments is a mid-cap investor in Western European companies. Five Arrows can invest across the capital structure (equity, equity-linked, mezzanine, convertible debt) and generally focused on primary or secondary buyouts, growth financings, and balance sheet restructurings. The Group does not have any sector preferences, but typically looks for businesses with high barriers to entry and predictable earnings. Five Arrows can commit €30 to €400 million per investment. Five Arrows is a unit of Rothschild Bank. The Group has offices in Paris, Luxembourg, and London.


DEAL STATS #
Overall 51 of 55
Sector (Internet Software and Services) 7 of 8
Type (Secondary Buyout) 31 of 33
State (Ohio) 1 of 1
Country (United States) 8 of 9
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-08 A2Mac1

Boulogne Billancourt, France

A2Mac1 is an automotive competitive benchmarking data and intelligence that provides a proven track record of delivering high quality and mission-critical data to unlock key insights to more than 500.000 professionals across the entire automotive value chain from OEM, OES, Tier 1, and Tier 2 supplier to Universities, Consulting firms and Raw Materials provider. A2Mac1 was founded in 1997 and is based in Boulogne Billancourt, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-30 CBA

Avignon, France

CBA is a provider of billing and patient management software for private sector nurses in France with more than 28,000 subscribers. CBA's software is essential to the daily activities of private sector nurses and covers both medical functions (e.g. patient management, remote transmission of patient records to social security) as well as administrative functions (e.g. scheduling, accounting, health insurance payment collection). CBA was founded in 1986 and is based in Avignon. France.

Sell -
Buyer

The Riverside Company

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Riverside Company is a global private equity firm that seeks investments in profitable lower middle-market companies valued under $400 million. Riverside looks to invest in growth businesses headquartered in North America, Europe, and Asia (primarily Japan and South Korea), that have been in operation for at least five years. Riverside targets investments in a wide array of industries including distribution, automotive, healthcare, education, manufacturing, software, consumer services, plastics, publishing, food, communications, marine, and business services. Riverside was formed in 1988 and is based in New York City.


DEAL STATS #
Overall 282 of 283
Sector (Internet Software and Services) 19 of 19
Type (Secondary Buyout) 46 of 46
State (Ohio) 17 of 18
Country (United States) 194 of 195
Year (2023) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-30 Dastex

Muggensturm, Germany

Dastex is a provider of both third-party brand and proprietary garments and consumables for cleanrooms in Germany, Austria, and Switzerland with a strong foothold in the Benelux and a growing pan-European presence. Dastex was founded in 1979 and is based in Muggensturm, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-09 Modern Hire

Cleveland, Ohio, United States

Modern Hire is an intelligent hiring platform that transforms each step of the process with screening, assessment, interview and workflow automation tools that make hiring more effective, efficient, ethical and engaging. Modern Hire is based in Cleveland, Ohio.

Sell -
Buyer

Providence Equity Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 36.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Providence Equity Partners is a specialist private equity firm that targets investments in media, entertainment, communications, and information companies. Specifically, Providence seeks investments in wireless and wireline telephony, cable television content and distribution, music, film, publishing, radio and television broadcasting, and other media and communications sectors. Providence Equity looks to commit $150 million to $800 million of equity capital in transactions ranging from growth financings and recapitalizations, to buyouts and take-privates. Providence Equity Partners was formed in 1989 and has offices in Providence, Rhode Island; New York, New York; Los Angeles, California; London, United Kingdom; Hong Kong, China; and New Delhi, India.


DEAL STATS #
Overall 130 of 135
Sector (Internet Software and Services) 15 of 16
Type (Secondary Buyout) 35 of 38
State (Ohio) 3 of 3
Country (United States) 83 of 85
Year (2023) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-08 A2Mac1

Boulogne Billancourt, France

A2Mac1 is an automotive competitive benchmarking data and intelligence that provides a proven track record of delivering high quality and mission-critical data to unlock key insights to more than 500.000 professionals across the entire automotive value chain from OEM, OES, Tier 1, and Tier 2 supplier to Universities, Consulting firms and Raw Materials provider. A2Mac1 was founded in 1997 and is based in Boulogne Billancourt, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-08 Hyve Group

London, United Kingdom

Hyve Group is a next-generation global events business whose purpose is to create unmissable events, where customers from all corners of the globe share extraordinary moments and shape industry innovation. Hyve Group was founded in 1985 and is based in London, United Kingdom.

Buy £524M

Seller(S) 2

SELLER

Providence Equity Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 36.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Providence Equity Partners is a specialist private equity firm that targets investments in media, entertainment, communications, and information companies. Specifically, Providence seeks investments in wireless and wireline telephony, cable television content and distribution, music, film, publishing, radio and television broadcasting, and other media and communications sectors. Providence Equity looks to commit $150 million to $800 million of equity capital in transactions ranging from growth financings and recapitalizations, to buyouts and take-privates. Providence Equity Partners was formed in 1989 and has offices in Providence, Rhode Island; New York, New York; Los Angeles, California; London, United Kingdom; Hong Kong, China; and New Delhi, India.


DEAL STATS #
Overall 98 of 100
Sector (Internet Software and Services) 13 of 13
Type (Secondary Buyout) 29 of 31
State (Ohio) 2 of 2
Country (United States) 67 of 68
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-08 A2Mac1

Boulogne Billancourt, France

A2Mac1 is an automotive competitive benchmarking data and intelligence that provides a proven track record of delivering high quality and mission-critical data to unlock key insights to more than 500.000 professionals across the entire automotive value chain from OEM, OES, Tier 1, and Tier 2 supplier to Universities, Consulting firms and Raw Materials provider. A2Mac1 was founded in 1997 and is based in Boulogne Billancourt, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-08 Hyve Group

London, United Kingdom

Hyve Group is a next-generation global events business whose purpose is to create unmissable events, where customers from all corners of the globe share extraordinary moments and shape industry innovation. Hyve Group was founded in 1985 and is based in London, United Kingdom.

Buy £524M
SELLER

The Riverside Company

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Riverside Company is a global private equity firm that seeks investments in profitable lower middle-market companies valued under $400 million. Riverside looks to invest in growth businesses headquartered in North America, Europe, and Asia (primarily Japan and South Korea), that have been in operation for at least five years. Riverside targets investments in a wide array of industries including distribution, automotive, healthcare, education, manufacturing, software, consumer services, plastics, publishing, food, communications, marine, and business services. Riverside was formed in 1988 and is based in New York City.


DEAL STATS #
Overall 186 of 191
Sector (Internet Software and Services) 11 of 11
Type (Secondary Buyout) 74 of 77
State (Ohio) 10 of 11
Country (United States) 131 of 133
Year (2023) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-30 Dastex

Muggensturm, Germany

Dastex is a provider of both third-party brand and proprietary garments and consumables for cleanrooms in Germany, Austria, and Switzerland with a strong foothold in the Benelux and a growing pan-European presence. Dastex was founded in 1979 and is based in Muggensturm, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-09 Modern Hire

Cleveland, Ohio, United States

Modern Hire is an intelligent hiring platform that transforms each step of the process with screening, assessment, interview and workflow automation tools that make hiring more effective, efficient, ethical and engaging. Modern Hire is based in Cleveland, Ohio.

Sell -