M&A Deal Summary

Thomas H. Lee Partners, Kensington Capital Partners and Fidelity National Financial Acquire Dayforce

On November 14, 2007, private equity firm Thomas H. Lee Partners, private equity firm Kensington Capital Partners and Fidelity National Financial acquired software company Dayforce for 5.3B USD

Acquisition Highlights
  • This is Thomas H. Lee Partners’ 2nd, Kensington Capital Partners’ 1st and Fidelity National Financial’s 2nd transaction in the Software sector.
  • This is Thomas H. Lee Partners’ 6th, Kensington Capital Partners’ and Fidelity National Financial’s largest (disclosed) transaction.
  • This is Thomas H. Lee Partners’ 23rd, Kensington Capital Partners’ 1st and Fidelity National Financial’s 7th transaction in the United States.
  • This is Thomas H. Lee Partners’ 2nd, Kensington Capital Partners’ 1st and Fidelity National Financial’s 1st transaction in Minnesota.
Investment Fate
  • Dayforce went public in 2018.

M&A Deal Summary

Date 2007-11-14
Target Dayforce
Sector Software
Buyer(s) Thomas H. Lee Partners
Kensington Capital Partners
Fidelity National Financial
Deal Type Going Private
Deal Value 5.3B USD

Target

Dayforce

Minneapolis, Minnesota, United States
Ceridian's corporate headquarters in Minneapolis, Minnesota.
Ceridian's corporate headquarters in Minneapolis, Minnesota.
Dayforce is a global human capital management software company. Dayforce the flagship cloud HCM platform provides human resources, payroll, benefits, workforce management, and talent management functionality. Ceridian platform is used to optimize the management of the entire employee lifecycle, including attracting, engaging, paying, deploying, and developing people. Ceridian has solutions for organizations of all sizes. Dayforce was founded in 1992 and is based in Minneapolis, Minnesota.

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Buyer(S) 3

Buyer

Thomas H. Lee Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1974
PE ASSETS 35.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thomas H. Lee Partners (THL) is a private equity firm that seeks buyout, expansion, consolidation, distressed, and recapitalization investments across various industries. Sectors of interest include business and information services, consumer products/retail, financial services, healthcare, industrial, and media/communications. THL looks to invest $100 to $400 million in companies valued up to $2.5 billion. THL was formed in 1974 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 31 of 90
Sector (Software) 2 of 12
Type (Going Private) 3 of 5
State (Minnesota) 2 of 3
Country (United States) 23 of 77
Year (2007) 3 of 3
Size (of disclosed) 6 of 28
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-27 Univision

New York, New York, United States

Univision entertains, informs, and empowers U.S. Hispanics with news, sports, and entertainment content across broadcast and cable television, audio, and digital platforms. The company’s top-rated media portfolio includes the Univision and UniMás broadcast networks, as well as cable networks Galavisión and TUDN, the No. 1 Spanish-language sports network in the country. Locally, Univision owns or operates 65 television stations in major U.S. Hispanic markets and Puerto Rico. Additionally, Uforia, the Home of Latin Music, encompasses 58 owned or operated radio stations, plus 89 affiliates, a live event series, and a robust digital audio footprint. Univision was formed in 1992 and is based in New York, New York.

Buy $13.7B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-03-25 MoneyGram International

Dallas, Texas, United States

MoneyGram International is a provider of money transfer services and is recognized worldwide as a financial connection to friends and family. MoneyGram connects consumers any way that is convenient for them. Company also provide bill payment services, issue money orders and process official checks in select markets. MoneyGram International was formed in 1926 and is based in Dallas, Texas.

Buy -
Buyer

Kensington Capital Partners

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1996
PE ASSETS 2.8B CAD
Size Large
Type Sector Agnostic
DESCRIPTION

Kensington Capital Partners is a Canadian alternative asset manager focused on hedge funds, private equity, and infrastructure assets. Kensington makes private equity investments through its fund-of-funds and direct co-investment programs. Kensington Capital was formed in 1996 and is based in Toronto.


DEAL STATS #
Overall 1 of 25
Sector (Software) 1 of 3
Type (Going Private) 1 of 1
State (Minnesota) 1 of 1
Country (United States) 1 of 6
Year (2007) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-09-22 Public Mobile

Toronto, Ontario, Canada

Public Mobile, Inc. is a provider of unlimited talk, text and data services to value conscious customers in Ontario and Quebec.

Buy -
Buyer

Fidelity National Financial

Jacksonville, Florida, United States

Category Company
Founded 1847
Sector Insurance
Employees22,293
Revenue 11.5B USD (2023)
DESCRIPTION
Fidelity National Financial's corporate headquarters in Jacksonville, Florida.
Fidelity National Financial's corporate headquarters in Jacksonville, Florida.

Fidelity National Financial is a provider of insurance escrow, and other services. Fidelity National Financial was incorporated in 1847 and is based in Jacksonville, Florida.


DEAL STATS #
Overall 7 of 30
Sector (Software) 2 of 2
Type (Going Private) 1 of 1
State (Minnesota) 1 of 1
Country (United States) 7 of 29
Year (2007) 3 of 3
Size (of disclosed) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-13 ATM Holdings

Canoga Park, California, United States

ATM Holdings, Inc. ("ATM"), a provider of nationwide mortgage vendor management services to the loan origination industry. ATM's primary subsidiary is a licensed title insurance agency which provides centralized title and closing services and a full suite of valuation and appraisal services to national residential mortgage originators, banks and institutional mortgage lenders throughout the United States.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-02-18 SoftPro

Raleigh, North Carolina, United States

SoftPro Corp. provider of closing and title software solutions.

Buy -