M&A Deal Summary

General Atlantic, The Blackstone Group and Morgan Stanley Tactical Value Investing Acquire Buyers Edge Platform

On April 8, 2024, growth capital firm General Atlantic, private equity firm The Blackstone Group and private equity firm Morgan Stanley Tactical Value Investing acquired information technology company Buyers Edge Platform from Bregal Sagemount

Acquisition Highlights
  • This is General Atlantic’s 44th, The Blackstone Group’s 22nd and Morgan Stanley Tactical Value Investing’s 3rd transaction in the Information Technology sector.
  • This is General Atlantic’s 160th, The Blackstone Group’s 203rd and Morgan Stanley Tactical Value Investing’s 12th transaction in the United States.
  • This is General Atlantic’s 17th, The Blackstone Group’s 9th and Morgan Stanley Tactical Value Investing’s 1st transaction in Massachusetts.

M&A Deal Summary

Date 2024-04-08
Target Buyers Edge Platform
Sector Information Technology
Buyer(s) General Atlantic
The Blackstone Group
Morgan Stanley Tactical Value Investing
Sellers(s) Bregal Sagemount
Deal Type Secondary Buyout

Target

Buyers Edge Platform

Waltham, Massachusetts, United States
Buyers Edge Platform is a provider of procurement software, group purchasing, and data analytics to the food service industry. Buyers Edge Platform was founded in 2018 and is based in Waltham, Massachusetts.

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Buyer(S) 3

Buyer

General Atlantic

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1980
PE ASSETS 73.0B 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 Greenwich, Connecticut.


DEAL STATS #
Overall 337 of 340
Sector (Information Technology) 44 of 44
Type (Secondary Buyout) 24 of 25
State (Massachusetts) 17 of 17
Country (United States) 160 of 161
Year (2024) 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-03 Ujala Cygnus Healthcare Services

New Delhi, India

Ujala Cygnus Healthcare Services provides multi-specialty care in orthopaedics, neurology, cardiology, gastro, and trauma related emergency care. Ujala Cygnus Healthcare Services was founded in 2011 and is based in New Delhi, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-17 Gresb

Amsterdam, Netherlands

Gresb is a provider of standardized and validated Environmental, Social, and Governance (ESG) data to financial markets. Gresb was founded in 2009 and is based in Amsterdam, Netherlands.

Buy -
Buyer

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 131.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York City.


DEAL STATS #
Overall 324 of 336
Sector (Information Technology) 22 of 23
Type (Secondary Buyout) 73 of 80
State (Massachusetts) 9 of 9
Country (United States) 203 of 211
Year (2024) 4 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-08 AIR Communities

Denver, Colorado, United States

AIR Communities is a real estate company with a portfolio of 76 communities totaling 27,010 apartment homes located in 10 states and the District of Columbia. AIR offers a predictable business model with focus on what we call the AIR Edge, the cumulative result of our focus on resident selection, satisfaction, and retention, as well as relentless innovation in delivering best-in-class property management. AIR Communities is based in Denver, Colorado.

Buy $10.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-24 Tropical Smoothie Cafe

Atlanta, Georgia, United States

Tropical Smoothie Cafe is a franchisor of fast-casual cafes with over 1,400 locations in 44 states. It serves smoothies, wraps, sandwiches, and flatbreads across multiple dayparts. Tropical Smoothie Cafe was founded in 1997 and is headquartered in Atlanta, Georgia.

Buy -
DESCRIPTION

Morgan Stanley Tactical Value Investing is an opportunistic investment group within Morgan Stanley focused on flexible capital solutions across asset classes, sectors, and geographies. The group will consider a variety of investment solutions including preferred equity, asset-backed loans, recapitalizations, PIPEs, and junior/senior debt. Morgan Stanley Tactical Value Investing is headquartered in New York City.


DEAL STATS #
Overall 15 of 15
Sector (Information Technology) 3 of 3
Type (Secondary Buyout) 4 of 4
State (Massachusetts) 1 of 1
Country (United States) 12 of 12
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-15 OneTeam Partners

Washington, District of Columbia, United States

OneTeam Partners provides athletes to maximize the value of their name, image, and likeness rights. OneTeam will manage and further commercialize player intellectual property, beginning with established franchises in video games and trading cards. OneTeam Partners was established in 2019 and is based in Washington, District of Columbia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-26 Lineage

Novi, Michigan, United States

Lineage is a warehousing and logistics company built to deliver sophisticated, customized, and dependable cold supply solutions for a variety of customers worldwide. Lineage was founded in 2012 and is based in Novi, Michigan.

Sell -

Seller(S) 1

SELLER

Bregal Sagemount

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2012
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Bregal Sagemount is a growth-focused private capital firm. The Firm provides flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations. Bregal Sagemount invests $8 to $150 million per transaction in a variety of sectors including software, digital infrastructure, healthcare IT, healthcare services, business and consumer services, financial technology, and specialty finance. Bregal Sagemount was formed in 2012 and is headquartered in New York City.


DEAL STATS #
Overall 37 of 37
Sector (Information Technology) 13 of 13
Type (Secondary Buyout) 18 of 18
State (Massachusetts) 3 of 3
Country (United States) 34 of 34
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-02 Connectria

St. Louis, Missouri, United States

Connectria is a provider of cloud hosting, cloud-managed services, cloud security, and cloud management software. Connectria was founded in 1996 and is based in St. Louis, Missouri.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-24 United Commercial Program Managers

Gilbert, Arizona, United States

United Commercial Program Managers is an environmental insurance wholesaler offering solutions for specialized insurance needs. United Commercial Program Managers is based in Gilbert, Arizona.

Buy -