Secondary Buyout • Consumer Services

General Atlantic and Silver Lake Acquire A Place for Mom

On July 5, 2017, growth capital firm General Atlantic and private equity firm Silver Lake acquired consumer services company A Place for Mom from Warburg Pincus

Acquisition Context
  • This is General Atlantic’s 2nd and Silver Lake’s 3rd transaction in the Consumer Services sector.
  • This is General Atlantic’s 86th and Silver Lake’s 68th transaction in the United States.
  • This is General Atlantic’s 13th and Silver Lake’s 6th transaction in New York.

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M&A Deal Summary

Date July 5, 2017
Target A Place for Mom
Sector Consumer Services
Buyer(s) General Atlantic
Silver Lake
Sellers(s) Warburg Pincus
Deal Type Secondary Buyout
Advisor(s) William Blair (Financial)
Willkie Farr & Gallagher (Legal)

Target Company

A Place for Mom

New York City, New York, United States
A Place for Mom is a provider of online referrals for senior communities, providing families with resources and personalized assistance in finding senior living options. A Place for Mom was founded in 2000 and is based in New York City, New York.
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Buyers Overview 2

Buyer

General Atlantic

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1980
PE ASSETS 105.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

General Atlantic is a large private equity firm that invests globally in growth-oriented public and private companies. Broad areas of interest include financial services, media and consumer, healthcare, enterprise solutions, communications and electronics, and energy. General Atlantic looks to invest $40 to $400 million in transactions that support growth, expansions, buy-outs, consolidations and build-ups. General Atlantic seeks to make 8 to 12 investments per year with an investment horizon of five to ten years. The Firm's geographic coverage spans North America; Europe; Asia/Pacific; and India. General Atlantic was formed in 1980 and is based in New York, New York.


Deal Context for Buyer #
Overall 177 of 365
Sector: Consumer Services 2 of 8
Type: Secondary Buyout 15 of 30
State: New York 13 of 25
Country: United States 86 of 175
Year: 2017 9 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-29 Visma

Oslo, Norway

Visma offers software and services that simplify and digitize core business processes in the private and public sectors. Visma was founded in 1985 and is based in Oslo, Norway.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-21 Klarna

Stockholm, Sweden

Klarna offers safe and easy-to-use payment solutions to e-stores in Europe with the ambition to make e-commerce safer, simpler and more fun. At the core of Klarna's services is the concept of after delivery payment, which lets buyers receive ordered goods before any payment is due. At the same time, Klarna assumes all credit and fraud risk for e-stores so that sellers can rest assured that they will always receive their money. Klarna was founded in 2005 and is based in Stockholm, Sweden.

Sell -
Buyer

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 Context for Buyer #
Overall 88 of 137
Sector: Consumer Services 3 of 4
Type: Secondary Buyout 14 of 21
State: New York 6 of 8
Country: United States 68 of 97
Year: 2017 6 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-30 Tintri

Mountain View, California, United States

Tintri, Inc. offers an enterprise cloud infrastructure built on a public-cloud like web services architecture and RESTful APIs. Organizations use Tintri all-flash storage with scale-out and automation as a foundation for their own clouds—to build agile development environments for cloud native applications and to run mission-critical enterprise applications. Tintri enables users to guarantee the performance of their applications, automate common IT tasks to reduce operating expenses, troubleshoot across their infrastructure, and predict an organization’s needs to scale—the underpinnings of a modern data center. Tintri, Inc. was formed in 2008 and is headquartered in Mountain View, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-21 Klarna

Stockholm, Sweden

Klarna offers safe and easy-to-use payment solutions to e-stores in Europe with the ambition to make e-commerce safer, simpler and more fun. At the core of Klarna's services is the concept of after delivery payment, which lets buyers receive ordered goods before any payment is due. At the same time, Klarna assumes all credit and fraud risk for e-stores so that sellers can rest assured that they will always receive their money. Klarna was founded in 2005 and is based in Stockholm, Sweden.

Buy -

Seller Profile 1

SELLER

Warburg Pincus

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1966
PE ASSETS 83.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Warburg Pincus is a mega-sized, global private equity firm focused on investment opportunities across North America, Asia, and Europe. Warburg will consider investing at various company stages, from early-stage opportunities to distressed situations. Warburg Pincus is organized by industry groups. Verticals include financial services, healthcare, technology, media & telecommunications, energy, consumer & industrial, and real estate. Within financial services, Warburg will consider asset/wealth managers, banks, exchanges, financial technology, insurance, transaction processing, private banking, and specialty/consumer finance. Within healthcare, specific areas of interest include medical devices, healthcare services, and biotech/pharmaceuticals. Within technology/media/communications, Warburg targets software, media/internet/information, financial technology, telecom, business services, and systems/semiconductors. Within energy, specific areas of interest include oil/gas exploration, power generation/transmission, and alternative energy. Warburg Pincus raised its first fund in 1966 and is based in New York City.


Deal Context for Seller #
Overall 146 of 265
Sector: Consumer Services 1 of 2
Type: Secondary Buyout 20 of 47
State: New York 7 of 13
Country: United States 88 of 150
Year: 2017 8 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-01 ComplexCare Solutions

Bowie, Maryland, United States

ComplexCare Solutions is a health services company specializes in face-to-face services for Medicare Advantage, Managed Long Term Care, Medicaid, SNP, and commercial plan members. ComplexCare Solutions was founded in 2010 and is based in Bowie, Maryland.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-06 Batau Lu Information Technology

Guangzhou, China

Batau Lu Information Technology provides the broadest on-line offering of auto parts products in China by leveraging its independently developed auto parts database, trading system and supply chain, covering maintenance parts, wearing parts, mechanical parts and collision parts. Its industry-leading online transaction solution is expected to make Baturu a leader in transforming and consolidating the traditional, fragmented auto parts industry in China. Batau Lu Information Technology was founded in 2013 and is based in Guangzhou, China.

Buy -