M&A Deal Summary

Madison Dearborn Partners Acquires Benefytt

On July 13, 2020, private equity firm Madison Dearborn Partners acquired internet software and services company Benefytt for 625M USD

Acquisition Highlights
  • This is Madison Dearborn Partners’ 5th transaction in the Internet Software and Services sector.
  • This is Madison Dearborn Partners’ 17th largest (disclosed) transaction.
  • This is Madison Dearborn Partners’ 73rd transaction in the United States.
  • This is Madison Dearborn Partners’ 2nd transaction in Florida.

M&A Deal Summary
Date 2020-07-13
Target Benefytt
Sector Internet Software and Services
Buyer(s) Madison Dearborn Partners
Deal Type Going Private
Deal Value 625M USD
Advisor(s) BofA Securities (Financial)
Weil Gotshal & Manges (Legal)

Target

Benefytt

Tampa, Florida, United States
Benefytt is a health insurance technology company that primarily engages in the development and operation of private e-commerce health insurance marketplaces, consumer engagement platforms, agency technology systems, and insurance policy administration platforms. By leveraging existing and emerging platforms and technologies, the Company offers a range of Medicare-related insurance plans from many of the nation’s leading carriers as well as other types of health insurance and supplemental products that meet the needs of consumers. Benefytt was formed in 2012 and is based in Tampa, Florida.

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Buyer(S) 1

Buyer

Madison Dearborn Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1992
PE ASSETS 28.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Madison Dearborn Partners (MDP) is a large private equity firm that targets buyouts of private or publicly held companies, divestitures of larger companies, recapitalizations of family-owned or closely-held companies, acquisition-oriented financings, and financings to fund internal growth. MDP's target investment size is $100 to $600 million in buyout oriented transactions and $100 to $400 million in growth capital commitments. Areas of interest include basic industries (natural resources, chemicals, energy and power, automotive, building products, food, metals and mining, refining, paper, packaging and forest products, and general manufacturing), as well as communications, consumer products/services, financial services, and healthcare. Madison Dearborn Partners was formed in 1992 and is based in Chicago, Illinois.

DEAL STATS #
Overall 86 of 99
Sector (Internet Software and Services) 5 of 5
Type (Going Private) 6 of 8
State (Florida) 2 of 2
Country (United States) 73 of 85
Year (2020) 5 of 8
Size (of disclosed) 17 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-25 Syntellis

Chicago, Illinois, United States

Syntellis provides innovative enterprise performance management software, data, and analytics solutions for healthcare, higher education, and financial institutions. Syntellis’ solutions include Axiom and Connected Analytics software, which help finance professionals elevate performance by acquiring insights, accelerating decisions, and advancing their business plans. Syntellis was formed in 2020 and is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-29 IPL Plastics

Montreal, Quebec, Canada

IPL Plastics is a sustainable packaging solutions provider primarily in the food and consumer, agricultural, logistics and environmental end-markets operating from multiple production facilities in Canada, the U.S., the U.K., Ireland, China and Mexico. IPL Plastics was founded in 1939 and is based in Montreal, Quebec.

Buy CA$981M
Mergr

Product

Company

Legal