M&A Deal Summary

HgCapital Acquires A-LIGN

On July 8, 2025, private equity firm HgCapital acquired information technology company A-LIGN from FTV Capital and Warburg Pincus

Acquisition Highlights
  • This is HgCapital’s 13th transaction in the Information Technology sector.
  • This is HgCapital’s 21st transaction in the United States.
  • This is HgCapital’s 3rd transaction in Florida.

M&A Deal Summary

Date 2025-07-08
Target A-LIGN
Sector Information Technology
Buyer(s) HgCapital
Sellers(s) FTV Capital
Warburg Pincus
Deal Type Secondary Buyout
Advisor(s) Jefferies
Guggenheim Securities (Financial)
Cleary Gottlieb Steen & Hamilton (Legal)

Target

A-LIGN

Tampa, Florida, United States
A-LIGN is a cybersecurity and compliance solutions provider that specializes in helping businesses navigate the complexities of regulatory and business-driven security and compliance needs. It provides security and compliance solutions in the form of assessments, audits, and cyber risk advisory and testing services for companies ranging from small-medium-sized businesses to large enterprises. A-LIGN was founded in 2009 and is based in Tampa, Florida.

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Buyer(S) 1

Buyer

HgCapital

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 70.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HgCapital is a European private equity firm focused on a wide range of transactions including public-to-private leveraged buy-outs, management buy-ins, divestitures, and turnarounds. Broad sectors of interest include consumer and leisure, healthcare, industrials, services, technology, media, and renewable energy. The Firm will consider both majority and minority investment positions. HgCapital is the successor to Mercury Capital Partners, a former unit of Merill Lynch which was spun out by management in 2000. HgCapital has offices in London and Munich.


DEAL STATS #
Overall 153 of 153
Sector: Information Technology M&A 13 of 13
Type: Secondary Buyout M&A Deals 51 of 51
State: Florida M&A 3 of 3
Country: United States M&A 21 of 21
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-04-03 smartTrade Technologies

Aix-en-Provence, France

smartTrade Technologies is an automated trading platform that enables fast access to a wide range of liquidity for Foreign Exchange (FX), Fixed Income, Equities, Cryptocurrencies, and Derivatives. These solutions connect to numerous liquidity providers, aggregation, smart order routing, order management, pricing, distribution, risk management capabilities, and an HTML5 user interface. smartTrade Technologies was formed in 1999 and is based in Aix-en-Provence, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-10-16 GTreasury

Buffalo Grove, Illinois, United States

GTreasury is a provider of treasury management software for organizations spanning the world. GTreasury’s solution illuminates a treasury’s liquidity by centralizing all incoming and outgoing banking activities, along with tracking all financial instrument activities. GTreasury was founded in 1986 and is based in Buffalo Grove, Illinois.

Sell $1.0B

Seller(S) 2

SELLER

FTV Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1998
PE ASSETS 6.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

FTV Capital is a multi-stage private equity firm focused on providing capital to high-growth companies. FTV generally seeks to invest in software, business services, and financial services companies which enable financial institutions to expand and to operate more efficiently. Investment proceeds are typically used to fund rapid organic growth, provide shareholder liquidity, pursue add-on acquisitions, or acquire divestitures. FTV prefers to act as the lead or control investor and targets equity commitments of $10 to $85 million per transaction. FTV Capital was established in 1998 and was formerly known as FTVentures. FTV Capital is based in San Francisco with an additional office in New York City.


DEAL STATS #
Overall 62 of 62
Sector: Information Technology M&A 15 of 15
Type: Secondary Buyout M&A Deals 8 of 8
State: Florida M&A 2 of 2
Country: United States M&A 55 of 55
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-03-18 Windward

London, United Kingdom

Windward is a Maritime AI company, providing an all-in-one platform to accelerate global trade. Windward's AI-powered decision support and exception management platform, enhanced with Generative AI, offers a 360° view of the maritime ecosystem and enables stakeholders to make real-time, predictive intelligence-driven decisions to achieve business and operational readiness. Windward is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-07-15 FundApps

London, United Kingdom

FundApps is a regulatory compliance software provider to the global financial services market. The company provides a comprehensive automated solution which covers interpretation and application of regulatory reporting rules, together with the automated creation of regulatory submissions. The software platform is a business critical tool which is used on a daily basis by a growing and active community of customers. FundApps was founded in 2010 and is based in London, United Kingdom.

Buy -
SELLER

Warburg Pincus

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1966
PE ASSETS 83.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Warburg Pincus is a mega-sized, global private equity firm focused on investment opportunities across North America, Asia, and Europe. Warburg will consider investing at various company stages, from early-stage opportunities to distressed situations. Warburg Pincus is organized by industry groups. Verticals include financial services, healthcare, technology, media & telecommunications, energy, consumer & industrial, and real estate. Within financial services, Warburg will consider asset/wealth managers, banks, exchanges, financial technology, insurance, transaction processing, private banking, and specialty/consumer finance. Within healthcare, specific areas of interest include medical devices, healthcare services, and biotech/pharmaceuticals. Within technology/media/communications, Warburg targets software, media/internet/information, financial technology, telecom, business services, and systems/semiconductors. Within energy, specific areas of interest include oil/gas exploration, power generation/transmission, and alternative energy. Warburg Pincus raised its first fund in 1966 and is based in New York City.


DEAL STATS #
Overall 259 of 263
Sector: Information Technology M&A 15 of 16
Type: Secondary Buyout M&A Deals 46 of 47
State: Florida M&A 5 of 6
Country: United States M&A 144 of 148
Year: 2025 M&A 8 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-07-01 uvex group

Fürth, Germany

uvex group operates four companies under one roof: the uvex safety group (uvex safety, HexArmor, laservision and Heckel), the uvex sports group (uvex sports, ALPINA and Hiplok), the Filtral group (Filtral and Primetta) and the UD2C Group for the direct-to-consumer online business. The group is represented by 49 branch offices in 23 countries and produces in its own factories. In total, 60% of the company’s workforce of more than 3,000 staff (as at: 2023/24 financial year) are employed in Germany. uvex is a global partner to international elite sport and equips a host of top athletes. uvex group is based in Fürth, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-07-16 Keystone Agency Partners

Harrisburg, Pennsylvania, United States

Keystone Agency Partners is an insurance brokerage platform that acquires and partners with independent insurance agencies. Keystone Agency Partners was founded in 2020 and is based in Harrisburg, Pennsylvania.

Buy -