M&A Deal Summary

Harbert Private Capital Acquires FastTrack360

On July 10, 2012, private equity firm Harbert Private Capital acquired internet software and services company FastTrack360 for 12M USD

Acquisition Highlights
  • This is Harbert Private Capital’s 2nd transaction in the Internet Software and Services sector.
  • This is Harbert Private Capital’s largest (disclosed) transaction.
  • This is Harbert Private Capital’s 4th transaction in Australia.

M&A Deal Summary
Date 2012-07-10
Target FastTrack360
Sector Internet Software and Services
Buyer(s) Harbert Private Capital
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 12M USD
Advisor(s) Grant Thornton Transaction Services (Financial)
Macpherson Kelley (Legal)

Target

FastTrack360

Melbourne, Australia
FastTrack360,is a p rovider of integrated software solutions to the Australian and Nordic labor hire industry. FastTrack’s software is a fully integrated end to end solutions from applicant tracking right through to payroll and billing. FastTrack360 was founded in 1981 and is based in Melbourne, Australia.

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Buyer(S) 1

Buyer

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 42 of 60
Sector (Internet Software and Services) 2 of 6
Type (Buyout (LBO, MBO, MBI)) 24 of 29
Country (Australia) 4 of 5
Year (2012) 3 of 4
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-07 Ivize Services

Atlanta, Georgia, United States

Ivize Services, Inc., headquartered in Atlanta, GA, is providers of litigations support, electronic data discovery, and related services, including data forensics and collections, imaging, coding, and reprographics.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-07 SoftBase Systems

Asheville, North Carolina, United States

SoftBase is a leading provider of application testing and tuning solutions for IBM's DB2® database utilizing the OS/390® and z/OS® operating systems.

Sell -
Mergr

Product

Company

Legal