M&A Deal Summary

Investment Technology Group Acquires The Macgregor Group

On July 13, 2005, Investment Technology Group acquired software company The Macgregor Group from Audax Private Equity for 230M USD

Acquisition Highlights
  • This is Investment Technology Group’s 1st transaction in the Software sector.
  • This is Investment Technology Group’s largest (disclosed) transaction.
  • This is Investment Technology Group’s 1st transaction in the United States.
  • This is Investment Technology Group’s 1st transaction in Massachusetts.

M&A Deal Summary

Date 2005-07-13
Target The Macgregor Group
Sector Software
Buyer(s) Investment Technology Group
Sellers(s) Audax Private Equity
Deal Type Add-on Acquisition
Deal Value 230M USD
Advisor(s) Bear Stearns & Co. Inc. (Financial)
Mintz Levin Cohn Ferris Glovsky and Popeo PC (Legal)

Target

The Macgregor Group

Boston, Massachusetts, United States
Macgregor is a provider of trade order management systems and financial information exchange network services to institutional buy-side investors. Macgregor products and services help to automate mission-critical investment management functions, including portfolio modeling, trade management, order routing, compliance, and electronic settlement

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Buyer(S) 1

Buyer

Investment Technology Group

New York, New York, United States

Category Company
Founded 1983
Sector Financial Services
Employees1,037
Revenue 633M USD (2015)
DESCRIPTION

Investment Technology Group, Inc. is an independent execution and research broker partnering with global portfolio managers and traders throughout the investment process, from investment decision through to settlement. Investment Technology Group was founded in 1983 and is based in New York.


DEAL STATS #
Overall 1 of 4
Sector (Software) 1 of 2
Type (Add-on Acquisition) 1 of 4
State (Massachusetts) 1 of 1
Country (United States) 1 of 3
Year (2005) 1 of 1
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-10-25 ITG Investment Research

New York, New York, United States

ITG Investment Research LLC is a provider of big data analytics and research to institutional, corporate, private equity and venture capital clients, focused broadly on the consumer, technology, media and telecom and macro-economic sectors.

Buy $56M

Seller(S) 1

SELLER

Audax Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Private Equity is a private equity firm focused on acquiring control positions in a variety of mid to large North American headquartered companies. The Firm segments its activities into lower middle-market and larger scale investing. Within its larger group, Audax targets profitable businesses valued up to $800 million and within its lower middle-market group, the Firm seeks companies valued up to $125 million. Sectors of interest include business services, consumer products/services, financial services, healthcare services, industrial services, software, and technology. Audax has a special interest in businesses that can benefit from a buy and build investment strategy for growth. Audax Private Equity was formed in 1999 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 3 of 102
Sector (Software) 1 of 6
Type (Add-on Acquisition) 2 of 35
State (Massachusetts) 2 of 8
Country (United States) 3 of 97
Year (2005) 1 of 2
Size (of disclosed) 15 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-06-21 API Heat Transfer

Buffalo, New York, United States

API Heat Transfer is a designer and manufacturer of a wide range of heat transfer technologies that service virtually every industrial market including food and beverage, dairy, compressors, air separation, chemical processing, mobile vehicles, power generation, pharmaceuticals, HVAC, and a wide variety of general industrial applications.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-25 Victor Oolitic Stone

Bloomington, Indiana, United States

Victor Oolitic Stone Co. provides quarry blocks and slabs to cut stone fabricators as well as ready-to-use sawed-four-sides and sawed-six-sides sills, hearths, mantels, and coping material to brick and masonry supply yards. Victor Oolitic Stone Co. was founded in 1898 and is based in Bloomington, Indiana.

Buy -