M&A Deal Summary

Harvest Partners Private Equity and Bain Capital Double Impact Acquire Sparq

On June 21, 2023, private equity firms Harvest Partners Private Equity and Bain Capital Double Impact acquired information technology company Sparq from Bain Capital Double Impact

Acquisition Highlights
  • This is Harvest Partners Private Equity’s 3rd and Bain Capital Double Impact’s 2nd transaction in the Information Technology sector.
  • This is Harvest Partners Private Equity’s 45th and Bain Capital Double Impact’s 17th transaction in the United States.
  • This is Harvest Partners Private Equity’s 6th and Bain Capital Double Impact’s 2nd transaction in Georgia.

M&A Deal Summary
Date 2023-06-21
Target Sparq
Sector Information Technology
Buyer(s) Harvest Partners Private Equity
Bain Capital Double Impact
Sellers(s) Bain Capital Double Impact
Deal Type Secondary Buyout
Advisor(s) Houlihan Lokey (Financial)
Morris, Manning & Martin (Legal)

Target

Sparq

Atlanta, Georgia, United States
Sparq is a provider of outsourced digital engineering to build, deploy and support digital applications, products, and experiences. The company's U.S.-centric, 100% remote delivery model accesses untapped and underleveraged technology talent and eliminates the obstacles of distant time zones, language, and geopolitical risks. Scrum-as-a-Service, Sparq’s engagement framework for Agile software engineering, provides rapid and flexible deployment of multidisciplinary teams via an elastic consumption model and predictable monthly pricing. It provides solutions for technology-driven and Fortune 1000 clients across various industries including Logistics and Transportation, Healthcare, High-Tech, and Financial Services. Sparq was founded in 2004 and is based in Atlanta, Georgia.

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Buyer(S) 2

Buyer

Harvest Partners Private Equity

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1981
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Harvest Partners is a private equity firm that targets buyout and growth capital investments in middle-market public and private companies. Harvest Partners looks to invest in profitable ($30 to $300 million of EBITDA) consumer products/retail, manufacturing, marketing, building products, industrial, specialty services, and value-added distribution companies valued between $100 and $600 million. The Firm prefers opportunities headquartered in North America. Harvest Partners was formed in 1981 and is based in New York City.

DEAL STATS #
Overall 48 of 49
Sector (Information Technology) 3 of 3
Type (Secondary Buyout) 26 of 27
State (Georgia) 6 of 6
Country (United States) 45 of 46
Year (2023) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-29 Lazer Logistics

Alpharetta, Georgia, United States

Lazer Logistics is a provider of comprehensive yard management solutions, including trailer spotting, shuttling and other complementary transportation and logistics services. Lazer Logistics was founded in 1996 and is based in Alpharetta, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-12 Road Safety Services

Omaha, Nebraska, United States

Road Safety Services is a provider of a diverse set of pavement marking and other road safety-related services. Road Safety Services is based in Omaha, Nebraska.

Buy -
Buyer

Bain Capital Double Impact

Investor Investor Investor Investor Investor

Category Private Equity Firm
Size Small
Type Sector Focused
DESCRIPTION

Bain Capital Double Impact is the social and wellness investment arm of Bain Capital. The Firm looks to invest in mission-driven companies that deliver both competitive financial returns and meaningful, measurable social and environmental good. Bain Capital Double Impact is based in Boston, Massachusetts.

DEAL STATS #
Overall 18 of 18
Sector (Information Technology) 2 of 2
Type (Secondary Buyout) 7 of 7
State (Georgia) 2 of 2
Country (United States) 17 of 17
Year (2023) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-01 Meteor

Gainesville, Florida, United States

Meteor is a mission-focused company committed to accelerated engagement and transformed learning experiences for educators, students, and communities. The company has helped more than 1,000 K-12 school districts design and create high-impact prosocial learning environments that promote collaborative educational experiences. It focuses on integrating best practices for teaching and learning that successfully foster modern learning environments and increase student achievement. Meteor Education was founded in 1967 and is based in Gainesville, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-22 HealthDrive

Framingham, Massachusetts, United States

HealthDrive is a provider of medical and dental services in over 2,000 facilities, serving more than 200,000 enrolled senior living residents across four practices around the nation. HealthDrive was founded in 1989 and is based in Framingham, Massachusetts.

Sell -

Seller(S) 1

SELLER

Bain Capital Double Impact

Investor Investor Investor Investor Investor

Category Private Equity Firm
Size Small
Type Sector Focused
DESCRIPTION

Bain Capital Double Impact is the social and wellness investment arm of Bain Capital. The Firm looks to invest in mission-driven companies that deliver both competitive financial returns and meaningful, measurable social and environmental good. Bain Capital Double Impact is based in Boston, Massachusetts.

DEAL STATS #
Overall 1 of 3
Sector (Information Technology) 1 of 1
Type (Secondary Buyout) 1 of 3
State (Georgia) 1 of 1
Country (United States) 1 of 3
Year (2023) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-01 Meteor

Gainesville, Florida, United States

Meteor is a mission-focused company committed to accelerated engagement and transformed learning experiences for educators, students, and communities. The company has helped more than 1,000 K-12 school districts design and create high-impact prosocial learning environments that promote collaborative educational experiences. It focuses on integrating best practices for teaching and learning that successfully foster modern learning environments and increase student achievement. Meteor Education was founded in 1967 and is based in Gainesville, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-22 HealthDrive

Framingham, Massachusetts, United States

HealthDrive is a provider of medical and dental services in over 2,000 facilities, serving more than 200,000 enrolled senior living residents across four practices around the nation. HealthDrive was founded in 1989 and is based in Framingham, Massachusetts.

Sell -
Mergr

Product

Company

Legal