M&A Deal Summary

HarbourVest Partners and CDW Acquire Sirius

On October 18, 2021, private equity firm HarbourVest Partners and CDW acquired information technology company Sirius from CD&R for 2.5B USD

Acquisition Highlights
  • This is HarbourVest Partners’ 24th and CDW’s 5th transaction in the Information Technology sector.
  • This is HarbourVest Partners’ 21st and CDW’s largest (disclosed) transaction.
  • This is HarbourVest Partners’ 129th and CDW’s 4th transaction in the United States.
  • This is HarbourVest Partners’ 21st and CDW’s 1st transaction in Texas.

M&A Deal Summary

Date 2021-10-18
Target Sirius
Sector Information Technology
Buyer(s) HarbourVest Partners
CDW
Sellers(s) CD&R
Deal Type Add-on Acquisition
Deal Value 2.5B USD
Advisor(s) Debevoise & Plimpton (Legal)

Target

Sirius

San Antonio, Texas, United States
Sirius is a privately held, leading national solutions integrator focused on helping organizations transform their business by managing their operations, optimizing their IT, and securing it all. Sirius was founded in 1980 and is based in San Antonio, Texas.

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Buyer(S) 2

Buyer

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 147.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 213 of 214
Sector: Information Technology M&A 24 of 24
Type: Add-on Acquisition M&A Deals 2 of 2
State: Texas M&A 21 of 21
Country: United States M&A 129 of 130
Year: 2021 M&A 4 of 5
Size (of disclosed) 21 of 61
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-14 CareCentrix

Hartford, Connecticut, United States

CareCentrix provides specialty benefit management services to health plans, improving quality and reducing costs in several areas of home-based healthcare such as home nursing, home medical equipment, home drug infusion, sleep diagnostic tests and hospital readmissions. CareCentrix was founded in 1996 and is based in Hartford, Connecticut.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-25 Q4

Toronto, Ontario, Canada

Q4 is a provider of cloud-based Investor Relations (IR) websites and apps on all screens - desktop, tablet and smartphones. Q4 was founded in 2005 and is based in Toronto, Ontario.

Sell -
Buyer

CDW

Vernon Hills, Illinois, United States

Category Company
Founded 1984
Sector E-Commerce
Employees15,100
Revenue 21.0B USD (2024)
DESCRIPTION
CDW's corporate headquarters in Lincolnshire, Illinois.
CDW's corporate headquarters in Lincolnshire, Illinois.

CDW is a direct marketer of multi-branded information technology products and services to small and medium sized businesses, government, healthcare and education customers in the United States and Canada. CDW was incorporated in 1984 and is based in Vernon Hills, Illinois.


DEAL STATS #
Overall 6 of 7
Sector: Information Technology M&A 5 of 5
Type: Add-on Acquisition M&A Deals 6 of 7
State: Texas M&A 1 of 1
Country: United States M&A 4 of 5
Year: 2021 M&A 3 of 3
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-02 Focal Point

Tampa, Florida, United States

Focal Point is a cybersecurity services firm working with key security technology providers to address customer priorities – including those in the most highly regulated and complex industries such as government, financial services, and healthcare. Focal Point was founded in 2005 and is based in Tampa, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-02 Mission

Los Angeles, California, United States

Mission is a born-in-the-cloud managed services and consulting provider, offering end-to-end cloud services, innovative AI solutions, and software for AWS customers. The company helps manage technology investments, improve performance and governance, scale to meet demand, safeguard clients' data, and innovate fearlessly. Mission Cloud was founded in 2001 and is based in Los Angeles, California.

Buy -

Seller(S) 1

SELLER

CD&R

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Clayton, Dubilier & Rice LLC (CD&R) is a large private equity firm that targets non-core divestitures of large corporations, growth equity financings, traditional buyouts, and corporate/family partnerships. CD&R looks for opportunities in North America, Western Europe, and Asia and will consider businesses in a wide range of sectors including consumer/retail, healthcare, industrials, and services. Prospective companies generally lead their respective markets, have stable cash flows, and possess competitive advantages through differentiated products, services, or processes. CD&R was formed in 1978 and has offices in New York City and London.


DEAL STATS #
Overall 43 of 48
Sector: Information Technology M&A 1 of 1
Type: Add-on Acquisition M&A Deals 14 of 16
State: Texas M&A 5 of 5
Country: United States M&A 33 of 38
Year: 2021 M&A 5 of 5
Size (of disclosed) 5 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-14 Core & Main

St. Louis, Missouri, United States

Core & Main is a distributor of water, sewer, storm, fusible piping, and fire protection infrastructure products that serves the needs of both contractors and municipalities in all aspects of the water, wastewater, clean water, landfill, energy, and fire protection industries. Core & Main was founded in 1874 and is based in St. Louis, Missouri.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-19 Vialto Partners

London, United Kingdom

Vialto Partners provides global mobility tax and immigration services business serves more than 3,000 multinational clients worldwide. The business helps organizations manage global talent mobility while providing personalized, high-quality tax and immigration services to cross-border employees, as they navigate compliance issues associated with global employment. Vialto Partners is based in London, United Kingdom.

Buy -