M&A Deal Summary

Great Hill Partners and Advent International Acquire RxBenefits

On January 12, 2016, private equity firms Great Hill Partners and Advent International acquired information technology company RxBenefits

Acquisition Highlights
  • This is Great Hill Partners’ 5th and Advent International’s 11th transaction in the Information Technology sector.
  • This is Great Hill Partners’ 51st and Advent International’s 63rd transaction in the United States.
  • This is Great Hill Partners’ 1st and Advent International’s 1st transaction in Alabama.

M&A Deal Summary

Date 2016-01-12
Target RxBenefits
Sector Information Technology
Buyer(s) Great Hill Partners
Advent International
Deal Type Recapitalization
Advisor(s) Goodwin Procter
Maynard Nexsen (Legal)

Target

RxBenefits

Birmingham, Alabama, United States
RxBenefits is a technology-enabled pharmacy benefits optimizer (PBO) with more than 500 pharmacy pricing, data, and clinical experts working together to deliver prescription benefit savings to employee benefit consultants and their self-insured clients. RxBenefits was founded in 1995 and is based in Birmingham, Alabama.

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Buyer(S) 2

Buyer

Great Hill Partners

Boston, Massachusetts, United States

Investor 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 60 of 97
Sector (Information Technology) 5 of 12
Type (Recapitalization) 7 of 15
State (Alabama) 1 of 2
Country (United States) 51 of 81
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-30 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.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-26 DealerRater.com

Waltham, Massachusetts, United States

DealerRater.com LLC is a consumer review website focused on the auto dealer vertical. DealerRater's platform allows consumers to search for car dealerships, read and write reviews, and find deals on new and used cars.

Sell -
Buyer

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 76.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 228 of 339
Sector (Information Technology) 11 of 32
Type (Recapitalization) 12 of 13
State (Alabama) 1 of 1
Country (United States) 63 of 100
Year (2016) 2 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-04 The Priory Group

Leatherhead Surrey, United Kingdom

Founded in 1980, Priory Group is a UK based operator of facilities for the treatment of mental illness, neurological injuries, addictions and eating disorders, and other conditions such as learning and behavior disorders. More than 30,000 patients are treated each year in more than 450 facilities across the country.

Sell $1.9B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-13 Quality CARE India Limited

Hyderabad, India

The CARE Hospitals Group is a multispecialty healthcare provider, with 16 hospitals serving 9 cities across 7 states of India. The regional leader in tertiary care in South/Central India and among the top 4 pan-Indian hospital chains, CARE Hospitals delivers comprehensive care in more than 30 specialties in tertiary care settings.

Sell -