M&A Deal Summary

M/C Partners, Court Square Capital Partners and Berkshire Partners Acquire Thrive Networks

On December 7, 2016, private equity firms M/C Partners, Court Square Capital Partners and Berkshire Partners acquired information technology company Thrive Networks from Manhattan Telecommunications and Corporate IT Solutions

Acquisition Highlights
  • This is M/C Partners’ 6th, Court Square Capital Partners’ 7th and Berkshire Partners’ 3rd transaction in the Information Technology sector.
  • This is M/C Partners’ 27th, Court Square Capital Partners’ 36th and Berkshire Partners’ 64th transaction in the United States.
  • This is M/C Partners’ 2nd, Court Square Capital Partners’ 2nd and Berkshire Partners’ 11th transaction in Massachusetts.

M&A Deal Summary

Date 2016-12-07
Target Thrive Networks
Sector Information Technology
Buyer(s) M/C Partners
Court Square Capital Partners
Berkshire Partners
Sellers(s) Manhattan Telecommunications
Corporate IT Solutions
Deal Type Divestiture

Target

Thrive Networks

Foxborough, Massachusetts, United States
Thrive Networks is a managed services provider, delivers a portfolio of outsourced technology services that included cloud, hosting, security, disaster recovery, backup, replication, network management, device management, storage, virtualization and more. For nearly two decades, Thrive has leveraged leading vendor technologies, its vast technical engineering talent and a fanatical dedication to client support to service hundreds of mid-market customers across the United States. Thrive Networks was founded in 2000 and is based in Foxborough, Massachusetts.

Search 204,782 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

Buyer(S) 3

Buyer

M/C Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 2.4B USD
Size Large
Type Sector Focused
DESCRIPTION

M/C Partners is a private equity and venture capital firm that targets communications, media and information technology companies throughout the US, Canada and Europe. M/C looks to invest $10 to $50 million per transaction and is usually the first institutional investor in its portfolio companies. Areas of interest include cable system operators, wireline communications services, fixed wireless broadband operators, media/content, mobile wireless data software and services and operators, wireless tower operators and on-demand software companies. Prospective transaction types include buyouts, growth capital and seed capital financing. M/C partners was formerly known as Chestnut Street Partners. M/C Partners was founded in 1986. The Firm is based in Boston with additional offices in San Francisco and London.


DEAL STATS #
Overall 33 of 51
Sector (Information Technology) 6 of 11
Type (Divestiture) 3 of 4
State (Massachusetts) 2 of 2
Country (United States) 27 of 44
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-16 AccentHealth

Tampa, Florida, United States

AccentHealth LLC is a patient-education media company at the point of care, with a mission to inspire patients to live healthier lives. AccentHealth's Patient Engagement Platform combines innovative, award-winning digital products including the waiting room television network, interactive tablets for the exam room and mobile touchpoints. AccentHealth's world class content is produced by CNN's Medical Unit, hosted by Dr. Sanjay Gupta, and by Harvard Medical School

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-16 Omega Wireless

United States

Omega Wireless offers wireless spectrum in the 600MHz FCC Broadcast Incentive Auction. 600MHz spectrum is the last block of available low-band spectrum and a key infrastructure need for the rollout of 5G wireless services.

Buy -
Buyer

Court Square Capital Partners

New York, New York, United States


Category Private Equity Firm
Founded 1968
PE ASSETS 7.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Court Square Capital Partners (CSCP) is a generalist private equity firm that seeks middle market company investments across the US. CSCP looks to partner with management teams to accelerate revenue growth and improve operating efficiency. Sectors of interest include business services, building products, chemicals, consumer products, food products/services, healthcare, aerospace/defense, manufacturing, media, technology, telecommunications, and transportation. Court Square Capital Partners was formerly known as Citigroup Venture Capital Equity Partners. The Group spun out of Citigroup and became independent in 2006. CSCP is based in New York City.


DEAL STATS #
Overall 39 of 68
Sector (Information Technology) 7 of 11
Type (Divestiture) 4 of 4
State (Massachusetts) 2 of 2
Country (United States) 36 of 65
Year (2016) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-31 JAC Products

Pontiac, Michigan, United States

JAC Products is a global designer and manufacturer of original equipment roof racks systems, with expanded product offerings in cargo management systems, running boards and steps rails. The company supplies OEM manufacturers worldwide with engineering, sales, manufacturing, and partnership locations in North America, Europe, China, Japan and South America. JAC Products was founded in 1967 and is based in Pontiac, Michigan.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-24 Data Axle

Dallas, Texas, United States

Data Axle is a provider of data and interactive resources that enables targeted sales, effective marketing and insightful research solutions. The Company's information powers tools and insights for businesses to efficiently reach current and future customers through multiple channels, including the world’s Internet search engines and GPS navigation systems. Data Axle was founded in 1972 and is based in Dallas, Texas.

Buy -
Buyer

Berkshire Partners

Boston, Massachusetts, United States


Category Private Equity Firm
Founded 1984
PE ASSETS 16.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Berkshire Partners is a private equity firm focused on investing in businesses with strong management and that lead their respective markets. Berkshire will consider investments in both public and private companies. Prospective transactions for private companies include leveraged buyouts, recapitalizations, growth capital financings, and privatizations. Public company transactions include take-privates, PIPEs, and equity stakes. Berkshire generally looks to invest $150 to $500 million of equity capital per transaction in companies valued up to $2 billion. Sectors of interest include industrial manufacturing, consumer products, retailing, transportation, communications and business services. Berkshire Partners was formed in 1984 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 72 of 104
Sector (Information Technology) 3 of 7
Type (Divestiture) 6 of 6
State (Massachusetts) 11 of 18
Country (United States) 64 of 92
Year (2016) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-24 Masergy

Plano, Texas, United States

Masergy is a provider of managed security and cloud communication solutions to global enterprises in more than 40 countries. It specializes in delivering real-time high-quality transport of enterprise applications, including voice, data, and video, through a single network connection. Masergy was founded in 2000 and is based in Plano, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-21 Kendra Scott Design

Austin, Texas, United States

Kendra Scott Design is a multi-channel fashion brand that sells jewelry online, through company stores and at renowned retailers like Nordstrom, Neiman Marcus, Bloomingdales and over a thousand specialty boutiques worldwide. Kendra Scott has become a household fashion name to women around the world with countless celebrities donning Kendra Scott jewelry. Kendra Scott Design was founded in 2002 and is based in Austin, Texas.

Buy -

Seller(S) 2

SELLER

Manhattan Telecommunications

New York, New York, United States

Category Company
Founded 1996
Sector Communications
DESCRIPTION

MetTel is a global provider of customized, integrated and managed communications solutions for enterprise customers. By converging all communications over a proprietary network, MetTel enables enterprise companies to easily deploy and manage technology-driven voice, data, wireless and cloud solutions globally. Combining customized and managed communication solutions with a powerful platform of cloud-based software, the company’s MetTel Portal® enables customers to manage their inventory, usage, spend and repairs from one simple, user friendly interface.


DEAL STATS #
Overall 1 of 1
Sector (Information Technology) 1 of 1
Type (Divestiture) 1 of 1
State (Massachusetts) 1 of 1
Country (United States) 1 of 1
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-09 Thrive Networks

Foxborough, Massachusetts, United States

Thrive Networks is a managed services provider, delivers a portfolio of outsourced technology services that included cloud, hosting, security, disaster recovery, backup, replication, network management, device management, storage, virtualization and more. For nearly two decades, Thrive has leveraged leading vendor technologies, its vast technical engineering talent and a fanatical dedication to client support to service hundreds of mid-market customers across the United States. Thrive Networks was founded in 2000 and is based in Foxborough, Massachusetts.

Buy -
SELLER

Corporate IT Solutions

Norwood, Massachusetts, United States

Category Company
Sector Information Technology
DESCRIPTION

Corporate IT Solutions, Inc. delivers a customized comprehensive portfolio addressing the complete technology lifecycle planning, designing, integrating, operating and optimizing networking and system solutions. The company also works closely with customers throughout implementation and post-implementation, offering management expertise and support. Corporate IT Solutions has a focus on service delivery through three primary lines of business including Managed Services, Hosted Services and Professional Services. Corporate IT Solutions’ expertise in each of the above areas allow it to provide clients with reduced operational and capital expenditures in technology while providing quality services and stability.


DEAL STATS #
Overall 1 of 1
Sector (Information Technology) 1 of 1
Type (Divestiture) 1 of 1
State (Massachusetts) 1 of 1
Country (United States) 1 of 1
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-09 Thrive Networks

Foxborough, Massachusetts, United States

Thrive Networks is a managed services provider, delivers a portfolio of outsourced technology services that included cloud, hosting, security, disaster recovery, backup, replication, network management, device management, storage, virtualization and more. For nearly two decades, Thrive has leveraged leading vendor technologies, its vast technical engineering talent and a fanatical dedication to client support to service hundreds of mid-market customers across the United States. Thrive Networks was founded in 2000 and is based in Foxborough, Massachusetts.

Buy -