M&A Deal Summary

LLR Partners and Providence Equity Partners Acquire Vector Solutions

On September 7, 2011, private equity firms LLR Partners and Providence Equity Partners acquired internet software and services company Vector Solutions from Topmark Partners and Harbert Private Capital

Acquisition Highlights
  • This is LLR Partners’ 2nd and Providence Equity Partners’ 3rd transaction in the Internet Software and Services sector.
  • This is LLR Partners’ 42nd and Providence Equity Partners’ 42nd transaction in the United States.
  • This is LLR Partners’ 2nd and Providence Equity Partners’ 2nd transaction in Florida.
Investment Fate
  • Vector Solutions was sold to a consortium of financial buyers in 2014.
  • Vector Solutions was sold to a consortium of financial buyers in 2018.
  • Vector Solutions was sold to a consortium of financial buyers in 2021.

M&A Deal Summary

Date 2011-09-07
Target Vector Solutions
Sector Internet Software and Services
Buyer(s) LLR Partners
Providence Equity Partners
Sellers(s) Topmark Partners
Harbert Private Capital
Deal Type Secondary Buyout

Target

Vector Solutions

Tampa, Florida, United States
Vector Solutions is a provider of SaaS-based compliance and safety-focused eLearning and performance optimization solutions serving three end-markets: Public Sector, Education, and Commercial. Vector’s solutions are underpinned by the company’s library of proprietary content (over 7,500 courses with over 30,000 associated accreditations) which is delivered through a SaaS-based software platform to address customers’ mission critical compliance, safety, and regulatory needs. Vector Solutions was founded in 1999 and is based in Tampa, Florida.

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Buyer(S) 2

Buyer

LLR Partners

Philadelphia, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

LLR is a private equity firm that makes growth capital, buyout, and recapitalization investments in mid-sized growth companies with sustainable competitive advantages. LLR looks to invest $30 to $150 million per transaction and will consider both control and minority situations. Target companies generally have at least $10 million in annual sales and are valued up to $250 million. Broad industry sectors of interest include general business services, financial services, healthcare services, education, manufacturing, consumer/retail and information technology/software. LLR will consider investments throughout the US with an emphasis on opportunities located in the Eastern and Mid-Atlantic regions of the US. LLR Partners was formed in 1999 and is based in Philadelphia, Pennsylvania.


DEAL STATS #
Overall 43 of 129
Sector: Internet Software and Services M&A 2 of 19
Type: Secondary Buyout M&A Deals 1 of 16
State: Florida M&A 2 of 5
Country: United States M&A 42 of 128
Year: 2011 M&A 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-19 Quintiq Holding B.V.

Hertogenbosch, Netherlands

Quintiq Holding B.V. is a provider of advanced planning and optimization solutions. The company’s solutions allow customers to increase revenues and/or reduce expenses by improving the efficiency of various critical processes within the supply chain.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-31 SDI Health

Plymouth Meeting, Pennsylvania, United States

SDI Health, LLC is a provider of innovative healthcare data products and analytic services to pharmaceutical, biotech, healthcare, and medical device companies, government, and financial institutions.

Sell -
Buyer

Providence Equity Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 38.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Providence Equity Partners is a specialist private equity firm that targets investments in media, entertainment, communications, and information companies. Specifically, Providence seeks investments in wireless and wireline telephony, cable television content and distribution, music, film, publishing, radio and television broadcasting, and other media and communications sectors. Providence Equity looks to commit $150 million to $800 million of equity capital in transactions ranging from growth financings and recapitalizations, to buyouts and take-privates. Providence Equity Partners was formed in 1989 and has offices in Providence, Rhode Island; New York, New York; Los Angeles, California; London, United Kingdom; Hong Kong, China; and New Delhi, India.


DEAL STATS #
Overall 65 of 137
Sector: Internet Software and Services M&A 3 of 17
Type: Secondary Buyout M&A Deals 9 of 40
State: Florida M&A 2 of 6
Country: United States M&A 42 of 86
Year: 2011 M&A 7 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-23 GLM Shows - George Little Management

White Plains, New York, United States

GLM creates face-to-face buying, selling and networking platforms for designers, product developers, manufacturers, retailers and operators through more than 20 leading trade shows including four of the largest 100 trade shows in the U.S.

Buy $173M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-12 Major League Soccer

New York, New York, United States

Major League Soccer is an exclusive national media, marketing, and sponsorship business of Major League Soccer.

Buy -

Seller(S) 2

DESCRIPTION

Topmark Partners (formerly Stonehenge Growth Equity Partners) is a growth capital investment firm focused on investing in technology-enabled service businesses in the Southeast US. The Firm looks to commit $1 to $5 million in profitable companies with at least $3 million of revenue. Topmark Partners is headquartered in Tampa, Florida.


DEAL STATS #
Overall 6 of 13
Sector: Internet Software and Services M&A 2 of 4
Type: Secondary Buyout M&A Deals 1 of 3
State: Florida M&A 4 of 7
Country: United States M&A 6 of 13
Year: 2011 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-06-03 Medidata Solutions

New York, New York, United States

Medidata Solutions, Inc. is a provider of cloud-based solutions for clinical research in life sciences, transforming clinical development through its advanced applications and intelligent data analytics. The Medidata Clinical Cloud™ brings new levels of productivity and quality to the clinical testing of promising medical treatments, from study design and planning through execution, management and reporting. Medidata Solutions was formed in 1999 and is based in New York City.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-07 Knovel

New York, New York, United States

Knovel provides a web-based application that integrates technical information with analytical and search tools to drive innovation and deliver answers engineers can trust.

Sell -
SELLER

Harbert Private Capital

Birmingham, Alabama, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1985
PE ASSETS 4.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Harbert Private Equity and Mezzanine is a private equity arm of Harbert Management Corp. The Private Equity group targets leveraged buyouts, recapitalizations, expansion capital investments, and distressed situations. The firm targets opportunities across a range of industries and typical transactions have enterprise values between A$10 and A$100 million. The Mezzanine Capital group seeks subordinated debt investments and can commit $3 to $15 million per transaction. . Harbert Management Corporation was formed in 1985 and has offices in Birmingham, Alabama; New York, New York; Nashville, Tennessee; Richmond, Virginia; London; Madrid; Paris; and Melbourne.


DEAL STATS #
Overall 9 of 44
Sector: Internet Software and Services M&A 1 of 2
Type: Secondary Buyout M&A Deals 3 of 8
State: Florida M&A 2 of 5
Country: United States M&A 9 of 43
Year: 2011 M&A 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-07 Pediatric Health Choice

Tampa, Florida, United States

Pediatric Health Choice is a provider of alternative-site healthcare services for medically-complex, technology-dependent, and behaviorally-challenged children. Pediatric Health Choice is based in Tampa, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-12 SoftBase Systems

Asheville, North Carolina, United States

SoftBase is a leading provider of application testing and tuning solutions for IBM's DB2® database utilizing the OS/390® and z/OS® operating systems.

Buy -