M&A Deal Summary

Fresche Solutions Acquires Quadrant Software

On June 3, 2016, Fresche Solutions acquired software company Quadrant Software from Bush O Donnell Capital Partners, Massachusetts Capital Resources Company, Candescent Partners, Eagle Private Capital and Harbert Private Capital

Acquisition Highlights
  • This is Fresche Solutions’ 2nd transaction in the Software sector.
  • This is Fresche Solutions’ 1st transaction in the United States.
  • This is Fresche Solutions’ 1st transaction in Massachusetts.

Target

Quadrant Software

Mansfield, Massachusetts, United States
Quadrant Software, Inc. is a provider of electronic document management software primarily for the IBM iSeries. Quadrant provides application modernization, mobile development, business intelligence and document distribution solutions and services.

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Buyer(S) 1

Buyer

Fresche Solutions

Montreal, Quebec, Canada

Category Company
Founded 1976
Sector Information Technology
Employees400
DESCRIPTION

Fresche Solutions is an application modernization and management solutions, provider. Fresche specializes in helping companies achieve their IT and business goals by better managing and evolving their IBM I applications. Fresche Solutions was founded in 1976 and is based in Montreal, Quebec.


DEAL STATS #
Overall 2 of 6
Sector (Software) 2 of 2
Type (Add-on Acquisition) 2 of 6
State (Massachusetts) 1 of 1
Country (United States) 1 of 4
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-05 Databorough

Weybridge, United Kingdom

Databorough Ltd. is a provider of knowledge mining and reuse for the IBM i (AS400/iSeries) platform.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-30 Abacus Solutions

Marietta, Georgia, United States

Abacus Solutions is a provider of IBM I cloud, managed services, and infrastructure solutions. Abacus Solutions' multiple data centers combined with an IBM-certified sales and support team allows to tailor IT solutions to the specific needs of customers. Abacus Solutions is based in Marietta, Georgia.

Buy -

Seller(S) 5

SELLER

Bush O Donnell Capital Partners

St. Louis, Missouri, United States

Category Private Equity Firm
PE ASSETS 250M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Bush O'Donnell Capital Partners (BOCP) is the private equity investment arm of Bush O'Donnell & Co., a firm that also provides investment advisory services. BOCP makes equity and mezzanine investments of $2 to $10 million in lower middle-market businesses with $5 to $100 million in sales. Funds are generally used to support growth initiatives, management buyouts, leveraged buyouts, and recapitalizations. Prospective companies typically have experienced management, stable cash-flows, and operate in a defensible market niche. The Firm will not invest in start-ups or turnarounds. BOCP is based in St. Louis, Missouri.


DEAL STATS #
Overall 21 of 25
Sector (Software) 2 of 2
Type (Add-on Acquisition) 13 of 15
State (Massachusetts) 1 of 1
Country (United States) 21 of 25
Year (2016) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-05 TrueNet Communications

Jacksonville, Florida, United States

TrueNet Communications, Inc. is a provider of communications network infrastructure services specializing in delivering consulting, engineering, installation and technical services to the Broadband, Wireless and Wireline Carrier, Energy and Utility, and corporate and government markets. TrueNet is extremely well positioned to capitalize on the demand for broadband infrastructure driven by the ever increasing need for bandwidth

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-17 RapcoHorizon

Jackson, Missouri, United States

RapcoHorizon is a vertically-integrated manufacturer of interconnect assemblies, audio, data and interface products, and specialty industrial wire. RapcoHorizon was founded in 1982 and is based in Jackson, Missouri.

Sell -
SELLER

Massachusetts Capital Resources Company

Boston, Massachusetts, United States

Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1977
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Massachusetts Capital Resource Company (MCRC) is a limited partnership privately owned and funded by Massachusetts-based life insurance companies. MCRC provides mezzanine financing for businesses with $3 to $100 million in revenue seeking capital to fund growth, strengthen balance sheets, or complete acquisitions. MCRC will consider investments in technology and non-technology companies seeking capital of $1 to $5 million. MCRC was formed in 1977 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 6 of 11
Sector (Software) 2 of 2
Type (Add-on Acquisition) 5 of 9
State (Massachusetts) 5 of 10
Country (United States) 6 of 11
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-17 Phillips screw

Amesbury, Massachusetts, United States

Phillips Screw is a manufacturer and distributor of patented fastener commonly used throughout the world across a wide variety of end markets including building products, aerospace, automotive and industrial applications. Phillips screw was founded in 1935 and is based in Amesbury, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-05 Advanced Practice Strategies

Boston, Massachusetts, United States

Advanced Practice Strategies, Inc. is a provider of instructional solutions promoting patient safety, jury education and medical risk management. The APS eLearning division offers web-based training to physicians and nurses, designed to reduce medical error and increase patient safety. Advanced Practice Strategies, Inc. was founded in 1993 and is based in Boston, Massachusetts.

Sell -
SELLER

Candescent Partners

Boston, Massachusetts, United States

Investor Investor Investor


Category Private Equity Firm
Founded 2009
Size Small
Type Sector Agnostic
DESCRIPTION

Candescent Partners is an investor in buyouts and recapitalizations of lower middle-market companies. The Firm looks to invest $10 to $30 million in the form of preferred equity, mezzanine, or both to support growth, buyouts, shareholder liquidity needs, acquisitions, or to reduce debt. Target sectors include healthcare technology and services, consumer products/services, business services, and software. Candescent Partners is based in Boston, Massachusetts.


DEAL STATS #
Overall 3 of 4
Sector (Software) 2 of 2
Type (Add-on Acquisition) 2 of 3
State (Massachusetts) 1 of 1
Country (United States) 3 of 4
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-01 Retirement Horizons

The Woodlands, Texas, United States

Retirement Horizons, Inc. (RHI) is a full service retirement benefits consulting firm, offering plan sponsors one-stop assistance with all aspects of retirement planning for their employees.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-19 Southeastern Spine Institute

Mt Pleasant, South Carolina, United States

Southeastern Spine Institute is a medical practice in South Carolina exclusively specializing in spine care. The Company has state-of-the-art spine MRIs, digital X-ray and most forms of diagnostic equipment. The medical facility has multiple non-surgical treatment rooms and block suites, as well as an in-house pharmacy and physical therapy center dedicated exclusively to treat spinal related problems. Southeastern Spine Institute is based in Mount Pleasant, South Carolina.

Buy -
SELLER

Eagle Private Capital

St. Louis, Missouri, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Eagle Private Capital (EPC) makes private equity and mezzanine investments in middle-market companies. The Firm typically invests $4 to $15 million per investment. EPC looks to partner with management or other private equity investors to provide growth or change of control capital. EPC is based in St. Louis, Missouri.


DEAL STATS #
Overall 30 of 49
Sector (Software) 2 of 2
Type (Add-on Acquisition) 14 of 25
State (Massachusetts) 2 of 2
Country (United States) 30 of 49
Year (2016) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-09 Bakken Resources

Helena, Montana, United States

Bakken Resources, Inc. is an independent energy company engaged in developing oil and natural gas properties. Current focus is on the Williston Basin in North Dakota, as we now own certain mineral rights beneath approximately 6,000 acres south of the town of Williston.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-01 Viking Plastics

Corry, Pennsylvania, United States

Viking Plastics is a manufacturer of tight-tolerance and custom injection molded products and assemblies for the automotive, HVAC, and industrial markets. Viking Plastics was founded in 1972 and is based in Corry, Pennsylvania.

Buy -
SELLER

Harbert Private Capital

Birmingham, Alabama, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1985
PE ASSETS 4.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Harbert Private Equity and Mezzanine is a private equity arm of Harbert Management Corp. The Private Equity group targets leveraged buyouts, recapitalizations, expansion capital investments, and distressed situations. The firm targets opportunities across a range of industries and typical transactions have enterprise values between A$10 and A$100 million. The Mezzanine Capital group seeks subordinated debt investments and can commit $3 to $15 million per transaction. . Harbert Management Corporation was formed in 1985 and has offices in Birmingham, Alabama; New York, New York; Nashville, Tennessee; Richmond, Virginia; London; Madrid; Paris; and Melbourne.


DEAL STATS #
Overall 27 of 43
Sector (Software) 2 of 3
Type (Add-on Acquisition) 16 of 26
State (Massachusetts) 1 of 1
Country (United States) 26 of 42
Year (2016) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-03 Envera Health

Richmond, Virginia, United States

Envera Health is a provider of patient engagement service platform delivers an ecosystem of connectivity to strengthen health systems and physician practices. Envera Health is based in Richmond, Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-20 WellCentive

Roswell, Georgia, United States

WellCentive, Inc. is a provider of healthcare intelligence solutions to healthcare organizations in the United States. It offers Advance Outcomes Manager, which collects, analyzes, and reports on administrative and clinical data.

Sell -