Investment Summary

JMI Equity, Warburg Pincus and Stone Point Capital Invest In Businessolver

On April 3, 2014, private equity firms JMI Equity, Warburg Pincus and Stone Point Capital invested in internet software and services company Businessolver

Investment Highlights
  • This is JMI Equity’s 16th, Warburg Pincus’ 15th and Stone Point Capital’s 4th transaction in the Internet Software and Services sector.
  • This is JMI Equity’s 66th, Warburg Pincus’ 132nd and Stone Point Capital’s 50th transaction in the United States.
  • This is JMI Equity’s 1st, Warburg Pincus’ 1st and Stone Point Capital’s 1st transaction in Iowa.

Investment Summary
Date 2014-04-03
Target Businessolver
Sector Internet Software and Services
Investor(s) JMI Equity
Warburg Pincus
Stone Point Capital
Deal Type Growth Capital

Target

Businessolver

West Des Moines, Iowa, United States
Businessolver is a provider of software as a service (SaaS) employee benefits administration solutions. Businessolver was founded in 1998 and is based in West Des Moines, Iowa.

Search 200,197 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Investor(S) 3

Investor

JMI Equity

La Jolla, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1992
PE ASSETS 7.5B USD
Size Mega
Type Sector Focused
DESCRIPTION

JMI Equity is a private equity firm focused on investments in software, internet, business service, and healthcare IT. Targeted businesses typically help automate and optimize business and information technology processes. The Firm will consider investments at all stages of development, including early-stage companies, self-funded businesses requiring growth capital, and later stage businesses in need of buyout or recapitalization funding. JMI looks to commit at least $10 million per transaction. JMI Equity was formed in 1992 and maintains offices in San Diego and Baltimore.

DEAL STATS #
Overall 73 of 127
Sector (Internet Software and Services) 16 of 41
Type (Growth Capital) 14 of 50
State (Iowa) 1 of 1
Country (United States) 66 of 111
Year (2014) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-24 Applied Systems

University Park, Illinois, United States

Applied Systems is a provider of cloud-based software that powers the business of insurance. The Company develops software for independent insurance agents, brokers, managing general agents, and insurance companies, as well as banks and other financial institutions with insurance operations. Applied Systems was founded in 1983 and is based in University Park, Illinois.

Buy $1.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-07 Vocus

Beltsville, Maryland, United States

Vocus, Inc. is a provider of cloud marketing software that enables businesses to attract, engage and retain customers.

Sell $447M
Investor

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 250 of 482
Sector (Internet Software and Services) 15 of 37
Type (Growth Capital) 71 of 158
State (Iowa) 1 of 1
Country (United States) 132 of 237
Year (2014) 10 of 25
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-02-12 Avalara

Seattle, Washington, United States

Avalara provides a suite of cloud-based solutions designed to improve accuracy and efficiency by automating the processes of determining taxability, identifying applicable tax rates, determining and collecting taxes, preparing and filing returns, remitting taxes, maintaining tax records, and managing compliance documents. Avalara was formed in 2004 and is based in Seattle, Washington.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-15 Liepin

Beijing, China

Liepin is an online and offline platform, which provides job seekers with a variety of tools and solutions to match their talent with attractive career opportunities and connect them with high-quality recruiters and employers. Liepin was founded in 2011 and is based in Beijing, China.

Buy -
Investor

Stone Point Capital

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 25.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Stone Point Capital is a private equity firm that targets investments in financial services sector. Specific areas of interest include insurance underwriting, outsourcing service providers to financial institutions, specialty lending and other credit opportunities, employee benefits and healthcare, asset management/retirement savings, and banking/depository institutions. Stone Point looks to commit between $5 and $500 million of equity per transaction and will consider control or substantial minority positions. Geographic areas of interest include North America and Europe. Stone Point Capital was formed in 1994 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 61 of 114
Sector (Internet Software and Services) 4 of 11
Type (Growth Capital) 6 of 17
State (Iowa) 1 of 1
Country (United States) 50 of 101
Year (2014) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-21 Wilton Re Holdings

Norwalk, Connecticut, United States

Wilton Re Holdings Limited provides traditional life reinsurance and insurance Run Off Solutions through its wholly owned operating subsidiaries, Wilton Reassurance Company, Wilton Reinsurance Bermuda Limited, and Wilton Reassurance Life Company of New York.

Sell $1.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-02 Genex

Wayne, Pennsylvania, United States

Genex is the trusted provider of managed care services enabling clients to transform their bottom lines while enhancing the lives of injured and disabled workers. The company serves the top underwriters of workers’ compensation, automobile, disability insurance, third-party administrators, and a significant number of Fortune 500 employers. In addition, Genex is the only company that delivers high-quality clinical services enhanced by intelligent systems and 360-degree data analysis. The company consistently drives superior results related to medical, wage loss, and productivity costs associated with claims in the workers’ compensation, disability, automobile, and health care systems. Genex was formed in 1978 and is based in Wayne, Pennsylvania.

Sell -
Mergr

Product

Company

Legal