M&A Deal Summary

Flexpoint Ford and Vestar Capital Partners Acquire LERETA

On July 6, 2021, private equity firms Flexpoint Ford and Vestar Capital Partners acquired business services company LERETA from Tarsadia Investments

Acquisition Highlights
  • This is Flexpoint Ford’s 3rd and Vestar Capital Partners’ 3rd transaction in the Business Services sector.
  • This is Flexpoint Ford’s 40th and Vestar Capital Partners’ 66th transaction in the United States.
  • This is Flexpoint Ford’s 5th and Vestar Capital Partners’ 5th transaction in California.

M&A Deal Summary

Date 2021-07-06
Target LERETA
Sector Business Services
Buyer(s) Flexpoint Ford
Vestar Capital Partners
Sellers(s) Tarsadia Investments
Deal Type Secondary Buyout
Advisor(s) Rothschild Global Advisory
American Discovery Capital LLC (Financial)
Kirkland & Ellis (Legal)

Target

LERETA

Covina, California, United States
LERETA is a national tax service and flood hazard certification company focused on providing a full suite of national real estate tax services for residential and commercial loans, including automated online research and certification, tax bill processing, a suite of delinquent tax services, and customized tax outsourcing service programs. LERETA was formed in 1986 and is based in Covina, California.

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Buyer(S) 2

Buyer

Flexpoint Ford

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 7.8B USD
Size Mega
Type Sector Focused
DESCRIPTION

Flexpoint Ford is a private equity firm focused on investments in healthcare and financial services companies. Flexpoint prefers control based investments and looks to commit $50 to $500 million per transaction. The Firm is flexible when it comes to investment structure and asset class. Flexpoint Ford was formed in 2005 and is based in Chicago, Illinois.


DEAL STATS #
Overall 44 of 56
Sector: Business Services M&A 3 of 5
Type: Secondary Buyout M&A Deals 10 of 13
State: California M&A 5 of 5
Country: United States M&A 40 of 50
Year: 2021 M&A 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-08 Sticky.io

San Francisco, California, United States

Sticky.io offers a cloud-based software solution that is engineered to serve the billing, transaction processing, and eCommerce needs of subscription-based businesses. Sticky.io’s platform include complex billing, subscription management, transaction routing, order management, and data analytics. In addition to this core functionality, Sticky.io offers a variety of ancillary services such as fulfillment, marketing, and call center support through integrations with third-party service providers. Sticky.io was founded in 2008 and is based in San Francisco, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-05 PayFacto

Verdun, Quebec, Canada

PayFacto provides payment processing and point-of-sale (POS) systems focused on the hospitality market. The Company enables merchants of all shapes and sizes to take control of their electronic transactions. With its own proprietary payment gateway and SaaS point-of-sale technology, PayFacto offers a differentiated suite of integrated payment and POS solutions supported locally through its extensive network of hundreds of distributors and resellers. PayFacto was founded in 2018 and is based in Verdun, Quebec.

Buy -
Buyer

Vestar Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 11.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Vestar Capital Partners is a private equity firm that targets management buyouts and growth capital investments across North America and Europe in the consumer, business services, and healthcare sectors. The Firm looks to invest $50 to $150 million in transactions valued up to $1 billion. Specific areas of interest include food, apparel, household goods, retail, consumer services, industrial services, information services, manufacturing, distribution, transportation, financial services, media/communications, digital health media, and medical technology. Vestar Capital Partners was formed in 1988 and is based in New York City.


DEAL STATS #
Overall 82 of 86
Sector: Business Services M&A 3 of 4
Type: Secondary Buyout M&A Deals 13 of 14
State: California M&A 5 of 6
Country: United States M&A 66 of 70
Year: 2021 M&A 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-01 Friday Health Plans

Alamosa, Colorado, United Kingdom

Friday Health Plans is a healthcare management company that offers people and small businesses who buy their own health insurance. The company focuses on overall simplicity to offer affordable health plans with benefits that help members stay healthy and cover them if they get sick or hurt. Friday Health Plans was formed in 2015 and is based in Alamosa, Colorado.

Buy $100M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-07 Stratus Unlimited

Mentor, Ohio, United States

Stratus Unlimited is a provider of signage and lighting services to customers across the US through a highly-scalable, vendor-managed, and asset-light business model. Stratus Unlimited was founded in 1953 and is based in Mentor, Ohio.

Buy -

Seller(S) 1

SELLER
DESCRIPTION

Tarsadia Investments is a Southern California based family office. The Firm is a flexible investor and looks to commit $5 to $75 million across multiple stages of maturity and asset classes. Sectors of interest include healthcare, life science, financial services, financial technology, real estate, and technology. In addition to direct investments, the Firm also invests in third party managed funds. Tarsadia Investments is based in Newport Beach, California.


DEAL STATS #
Overall 2 of 2
Sector: Business Services M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
State: California M&A 2 of 2
Country: United States M&A 2 of 2
Year: 2021 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-01 Erasca

San Diego, California, United States

Erasca is a clinical-stage precision oncology company driven by a bold mission—to erase cancer. We are on a journey to shut down one of cancer’s most commonly mutated signaling cascades, the RAS/MAPK pathway, which affects approximately 5.5 million lives each year worldwide. Erasca was founded in 2018 and is based in San Diego, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-01 Kirilys

San Francisco, California, United States

Kirilys is a multi-asset, clinical-stage precision oncology company focused on improving the lives of patients with cancer through the development and improvement of therapeutic treatments. Kirilys is based in San Francisco, California.

Buy -