M&A Deal Summary

Investcorp Acquires Abax

On May 26, 2017, asset manager Investcorp acquired internet software and services company Abax from Norvestor Equity AS

Acquisition Highlights
  • This is Investcorp’s 7th transaction in the Internet Software and Services sector.
  • This is Investcorp’s 17th transaction in the United Kingdom.

M&A Deal Summary

Date 2017-05-26
Target Abax
Sector Internet Software and Services
Buyer(s) Investcorp
Sellers(s) Norvestor Equity AS
Deal Type Secondary Buyout

Target

Abax

Peterborough, United Kingdom
Abax is a designer and manufacturer of electronic trip logs that continuously and automatically write the triplog for the vehicle users. Abax was founded in 2003 and is based in Peterborough, United Kigdom.

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Buyer(S) 1

Buyer

Investcorp

New York, New York, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1982
PE ASSETS 53.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Investcorp is a global investment group focused on a variety of investment disciplines. Practice areas include private equity in North America and Western Europe, hedge funds, US real estate, technology investments, and Middle Eastern private equity. Within North America/Europe private equity, Investcorp targets market leaders with proven track records. It looks to invest $15 to $50 million in companies with revenues of $10 to $250 million. Investcorp's technology group sponsors growth-oriented control investments in the tech sector. Investcorp's Middle East practice focuses on buyout/build opportunities in North Africa and the Gulf Region. Target sectors include services, infrastructure, manufacturing, and energy. Investcorp was formed in 1982 and is based in Manama, Bahrain.


DEAL STATS #
Overall 129 of 189
Sector: Internet Software and Services M&A 7 of 10
Type: Secondary Buyout M&A Deals 45 of 60
Country: United Kingdom M&A 17 of 24
Year: 2017 M&A 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-15 Ageras

Philadelphia, Pennsylvania, United States

Ageras is a fast growing online marketplace matching Small and Medium-sized Enterprises (“SMEs”) and micro-businesses with professional services providers such as accountants and lawyers. Ageras was founded in 2012 and is based in Philadelphia, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-05 Randall-Reilly

Tuscaloosa, Alabama, United States

Randall-Reilly is a provider of data and data-driven marketing solutions for industrial end markets including heavy-duty trucking, construction equipment, agricultural equipment, and machine tools. Randall-Reilly’s unique data assets and highly customizable digital marketing solutions enable clients to identify and target sales, marketing, and recruiting prospects. Randall-Reilly was founded in 1934 and is based in Tuscaloosa, Alabama.

Sell -

Seller(S) 1

SELLER

Norvestor Equity AS

Oslo, Norway

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 2.1B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Norvestor Equity is an independent private equity group focused on opportunities throughout Norway and the nearby Nordic region. Norvestor generally looks to acquire control positions in businesses with strong market positions, clear potential for sales and earnings growth, and motivated management. Sectors of interest include engineering/technology, food/beverage, IT, telecommunications, maritime equipment, oil services, power/energy, retail, and services/outsourcing. The Firm's investment size is €10 to €45 million in companies with enterprise values of €20 to €125 million. Norvestor Equity is based in Oslo with an additional office in Stockholm.


DEAL STATS #
Overall 34 of 52
Sector: Internet Software and Services M&A 2 of 5
Type: Secondary Buyout M&A Deals 6 of 11
Country: United Kingdom M&A 2 of 3
Year: 2017 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-01 Phonero

Kristiansand, Norway

Phonero is a privately owned mobile virtual network operator (“MVNO”) providing telecommunication services to small and medium sized businesses. Phonero was founded in 2008 and is based Kristiansand, Norway.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-27 NetNordic

Lysaker, Norway

NetNordic is a vendor of telecommunications systems. Company delivers Service Provider networking equipment, as well as production platforms for voice and video applications. NetNordic was founded in 2001 and is based in Lysaker, Norway.

Buy -