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M&A Deal Summary

Great Hill Partners and Nordic Capital Acquire One

On February 20, 2020, private equity firms Great Hill Partners and Nordic Capital acquired information technology company One from Centana Growth Partners, AGI Partners and H&Q Asia Pacific

Acquisition Highlights
  • This is Great Hill Partners’ 9th and Nordic Capital’s 7th transaction in the Information Technology sector.
  • This is Great Hill Partners’ 74th and Nordic Capital’s 8th transaction in the United States.
  • This is Great Hill Partners’ 11th and Nordic Capital’s 1st transaction in California.

M&A Deal Summary
Date 2020-02-20
Target One
Sector Information Technology
Buyer(s) Great Hill Partners
Nordic Capital
Sellers(s) Centana Growth Partners
AGI Partners
H&Q Asia Pacific
Deal Type Recapitalization
Advisor(s) Cowen (Financial)
Lowenstein Sandler (Legal)

Target

One

Folsom, California, United States
One is a digital payment solutions vendor focused exclusively on the insurance industry. The company’s InsureOne™ product suite enables property and casualty insurers to expand their distribution channels and increase revenues while replacing legacy core systems that are inefficient and inflexible. Its software is used by a rapidly growing list of notable customers, including the National General Insurance Company, Confie Seguros, and Mutual of Enumclaw. One was formed in 2005 and is based in Folsom, California.

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Buyer(S) 2

Buyer

Great Hill Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 12.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Great Hill Partners is a private equity firm focused on growth equity and recapitalization investments in well established public and private companies valued put to $1 billion. Great Hill targets companies within consumer services, business services, financial technology, healthcare, internet, logistics, media, communications, technology services, software and transaction processing. The Firm invests in the range of $25 to $500 million per transaction. Great Hill prefers companies located in the US, but will also consider opportunities in Europe and Latin America. Great Hill Partners was formed in 1998 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 86 of 98
Sector: Information Technology M&A 9 of 12
Type: Recapitalization M&A Deals 14 of 15
State: California M&A 11 of 13
Country: United States M&A 74 of 82
Year: 2020 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-13 VersaPay

Miami, Florida, United States

VersaPay is a provider of cloud-based invoice-to-cash solutions, enabling businesses to provide superior customer experience, get paid faster, streamline financial operations, and dramatically reduce DSO and costs. VersaPay ARC is the first platform to provide Customer-Centric AR™ with a customer self-service environment to view invoices online, collaborate on inquiries and disputes, and facilitate secure online payments (EFT/ACH and credit card). Businesses gain access to a suite of powerful tools that enable efficient collections, cash application and real-time insight into accounts receivable. VersaPay ARC automatically reconciles payments and account information through integrations with a wide range of ERPs and accounting software providers. VersaPay was founded in 2006 and is based in Miami, Florida.

Buy CA$126M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-25 AffiniPay

Austin, Texas, United States

AffiniPay is a provider of electronic payment solutions to professional services firms. AffiniPay provides proprietary electronic payment tools designed to facilitate simple and secure acceptance of credit cards, debit cards and eChecks for professionals. AffiniPay is based in Austin, Texas.

Sell -
Buyer

Nordic Capital

Stockholm, Sweden

Category Private Equity Firm
Founded 1989
PE ASSETS 31.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Nordic Capital is a private equity investment firm that targets mid to large-sized company investments located in Northern Europe as well as the US. Nordic seeks investments across a wide range of industries and prefers situations where there are 'opportunities for new industrial combinations, strategic repositioning, international expansion and operational improvements'. Nordic Capital was formed in 1989 and is based in Stockholm, Sweden.

DEAL STATS #
Overall 106 of 140
Sector: Information Technology M&A 7 of 10
Type: Recapitalization M&A Deals 2 of 2
State: California M&A 1 of 1
Country: United States M&A 8 of 15
Year: 2020 M&A 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-21 Consilium Marine & Safety

Gothenburg, Sweden

Consilium Marine & Safety produces safety and safety-related technologies, within fire and gas detection, for the marine, oil and gas, transport, and building sectors. Consilium Marine & Safety is based in Gothenburg, Sweden.

Buy kr3.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-25 Max Matthiessen

Stockholm, Sweden

Max Matthiessen is a Swedish advisor within pensions, insurance, and investment, offering advice, analysis, administration, and procurement of pension and insurance solutions to employers, entrepreneurs and individual customers. The Company also offers advice within savings, investment advisory, and asset management. Max Matthiessen was formed in 1889 and is based in Stockholm, Sweden.

Buy -

Seller(S) 3

SELLER

Centana Growth Partners

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2015
Size Middle-Market
Type Sector Focused
DESCRIPTION

Centana Growth Partners is a growth oriented investment firm focused on opportunities in the fin tech and enterprise technology sectors. Centana looks to invest in rapidly growing companies to sustain or accelerate growth, for working capital, to fund acquisitions, or improve balance sheets. Centana has offices in Palo Alto, California and New York City.

DEAL STATS #
Overall 1 of 7
Sector: Information Technology M&A 1 of 2
Type: Recapitalization M&A Deals 1 of 1
State: California M&A 1 of 4
Country: United States M&A 1 of 7
Year: 2020 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-19 Ease

San Francisco, California, United States

Ease is an operator of a cloud-based benefits enrollment software platform built for insurance brokers and employers. Ease makes it simple to set up and manage benefits, onboard new hires, stay compliant, and offer employees one destination for all their human resources information. Ease was founded in 2015 and is based in San Francisco, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-08 True Link

San Francisco, California, United States

True Link provides a financial partner to those underserved by traditional financial institutions: vulnerable older adults, people with disabilities, and those recovering from addiction. True Link is based in San Francisco, California.

Buy -
SELLER

AGI Partners

Investor Investor Investor

Category Private Equity Firm
Founded 2007
Size Small
Type Sector Agnostic
DESCRIPTION

AGI Partners is a private equity firm focused on acquiring and investing in profitable US-based companies with $20 to $500 million of revenue. Target investment situations include recapitalizations, buyouts, growth capital financings, family and generational transitions, and industry consolidations. AGI is sector agnostic however the Firm has experience in consumer products, retail, media, telecom, marketing, business services, healthcare, manufacturing, and transportation. AGI Partners was formed in 2007 and is headquartered in New York City.

DEAL STATS #
Overall 2 of 2
Sector: Information Technology M&A 1 of 1
Type: Recapitalization M&A Deals 1 of 1
State: California M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-26 Aura XM

Oakville, Ontario, Canada

Aura XM, Inc. is a marketing agency that crafts strategic audience engagements by powering brand experiences. Aura XM was founded in 1983 and is based in Oakville, Ontario.

Sell -
SELLER

H&Q Asia Pacific

Hong Kong, China

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1985
PE ASSETS 3.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

H and Q Asia Pacific (H&QAP) is a private equity firm focused on later-stage control investments and earlier-stage venture capital investments across the Pacific Rim. Areas of interest include technology, technology manufacturing, consumer brands, and financial services. The Group was originally formed in 1985 as a division of US investment bank Hambrecht & Quist and is now an independent organization. H&Q Asia Pacific has offices in Palo Alto, California; Hong Kong; Manila; Shanghai; Taipei; and Tokyo.

DEAL STATS #
Overall 18 of 21
Sector: Information Technology M&A 3 of 3
Type: Recapitalization M&A Deals 3 of 3
State: California M&A 4 of 5
Country: United States M&A 5 of 6
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-08 Dalipal Pipe

Cangzhou, China

Dalipal Pipe Company develops, manufactures, and sells oil country tubular goods, other oil pipes, and pipe billets in the People's Republic of China and internationally. Dalipal Pipe Co. was incorporated in 1998 and is based in Cangzhou, China.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-04 Jobkorea

Seoul, South Korea

Jobkorea is a major online job portal service provider with a dominant market position with high profitability. The company's online job portal connects employers with job seekers at all levels and provides personalized career advice to its registered users. Jobkorea was established in 1996 and is based in Seoul, South Korea.

Sell -
Mergr

Product

Company

Legal