Investment Summary

Hellman & Friedman and General Atlantic Invest In Upromise

On November 6, 2000, private equity firm Hellman & Friedman and growth capital firm General Atlantic invested in marketing company Upromise

Investment Highlights
  • This is Hellman & Friedman’s 3rd and General Atlantic’s 1st transaction in the Marketing sector.
  • This is Hellman & Friedman’s 7th and General Atlantic’s 13th transaction in the United States.
  • This is Hellman & Friedman’s 1st and General Atlantic’s 2nd transaction in Massachusetts.
Investment Fate
  • Upromise was sold to a publicly-traded strategic buyer in 2006.
  • Upromise was divested to a consortium of strategic buyers in 2020.

Investment Summary

Date 2000-11-06
Target Upromise
Sector Marketing
Investor(s) Hellman & Friedman
General Atlantic
Deal Type Growth Capital
Advisor(s) Portico Capital Securities (Financial)

Target

Upromise

Newton, Massachusetts, United States
Upromise, Inc. operates a multi-company loyalty program that allows members to direct their everyday purchases to selected vendors to earn cash rebates in a tax-free savings vehicle to finance their children's college education. Upromise also offers its own 529 College Savings product sponsored by the State of Nevada directly to its customers, in partnership with Vanguard. Upromise is based in Newton, Massachusetts.

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Investor(S) 2

Investor

Hellman & Friedman

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 115.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Hellman & Friedman is a large private equity firm on the West Coast of the US. H&F focuses on control and minority investments in a variety of transaction structures and will consider opportunities across the US and Europe. H&F seeks buyouts and business in need of restructurings that operate in defensible markets with predictable revenue and earnings growth. Target sectors include financial services, healthcare, indusrial, energy, insurance, media, marketing, professional services, software, and information services. H&F's target equity investment size is $300 million to $1 billion. Hellman & Friedman was formed in 1984 and has offices in San Francisco, New York City, and London.


DEAL STATS #
Overall 9 of 90
Sector: Marketing M&A 3 of 4
Type: Growth Capital M&A Deals 2 of 7
State: Massachusetts M&A 1 of 6
Country: United States M&A 7 of 62
Year: 2000 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-10-01 Advanstar Communications

Santa Monica, California, United States

Advanstar Communications Inc. is a media company providing integrated marketing solutions for the Fashion, Life Sciences and Powersports industries. Advanstar serves business professionals and consumers in these industries with its portfolio of 87 events, 58 publications and directories, 125 electronic publications and Web sites, as well as educational and direct marketing products and services.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-03-28 Nasdaq

New York, New York, United States

Nasdaq is an exchange company. With so many listed companies, it delivers trading, exchange technology and public company services across six continents. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market; the OMX Nordic Exchange, including First North; and the 144A PORTAL Market. Nasdaq was founded in 1971 and is based in New York, New York.

Buy -
Investor

General Atlantic

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1980
PE ASSETS 105.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

General Atlantic is a large private equity firm that invests globally in growth-oriented public and private companies. Broad areas of interest include financial services, media and consumer, healthcare, enterprise solutions, communications and electronics, and energy. General Atlantic looks to invest $40 to $400 million in transactions that support growth, expansions, buy-outs, consolidations and build-ups. General Atlantic seeks to make 8 to 12 investments per year with an investment horizon of five to ten years. The Firm's geographic coverage spans North America; Europe; Asia/Pacific; and India. General Atlantic was formed in 1980 and is based in New York, New York.


DEAL STATS #
Overall 15 of 364
Sector: Marketing M&A 1 of 5
Type: Growth Capital M&A Deals 7 of 139
State: Massachusetts M&A 2 of 16
Country: United States M&A 13 of 175
Year: 2000 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-07-01 SSA Global Technologies

Chicago, Illinois, United States

SSA Global Technologies is the company that emerged from the August 2000 acquisition of substantially all of the assets of System Software Associates, Inc. by Gores and Cerberus Capital Management. SSA Global is a leading provider of extended ERP solutions for manufacturing, distribution, retail, services and public organizations worldwide. In addition to core ERP applications, SSA Global offers a full range of integrated extension solutions including corporate performance management, customer relationship management, product lifecycle management, supply chain management and supplier relationship management.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-12-22 Talus Solutions

Atlanta, Georgia, United States

Talus Solutions, Inc. is a revenue management and dynamic pricing software and services.

Sell -