M&A Deal Summary

Marlin Equity Partners Acquires FrontStream

On May 30, 2018, private equity firm Marlin Equity Partners acquired information technology company FrontStream from SSM Partners, Arsenal Capital Partners and Triangle Capital

Acquisition Highlights
  • This is Marlin Equity Partners’ 11th transaction in the Information Technology sector.
  • This is Marlin Equity Partners’ 55th transaction in the United States.
  • This is Marlin Equity Partners’ 1st transaction in Delaware.

M&A Deal Summary
Date 2018-05-30
Target FrontStream
Sector Information Technology
Buyer(s) Marlin Equity Partners
Sellers(s) SSM Partners
Arsenal Capital Partners
Triangle Capital
Deal Type Secondary Buyout

Target

FrontStream

Claymont, Delaware, United States
FrontStream is a provider of software and payment processing solutions that help charities and companies raise money, engage constituents and make a positive impact. FrontStream was established in 2007 and is based in Claymont, Delaware.

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Buyer(S) 1

Buyer

Marlin Equity Partners

Hermosa Beach, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 8.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Marlin Equity's headquarters in Hermosa Beach, California.
Marlin Equity's headquarters in Hermosa Beach, California.

Marlin Equity Partners is a private investment firm focused on acquiring distressed businesses with sales of $10 million to $2 billion. Marlin has a special interest in non-core or underperforming divisions of larger corporations, as well as companies facing some sort of financial, operational or market-related transition. Marlin is a generalist investor and will consider opportunities in technology (software, IT, payment systems, hardware, communications, internet), healthcare, consumer (apparel, retail, consumer products, food/beverage), services (business, financial, consumer, education), manufacturing (automotive, industrial, metals, plastics), aerospace, defense, and media. Marlin prefers businesses with scalable business models, strong installed customer bases, defensible market positions, and barriers to entry. Marlin Equity Partners was formed in 2005 and is based in Hermosa Beach, California with an additional office in London.

DEAL STATS #
Overall 69 of 116
Sector (Information Technology) 11 of 23
Type (Secondary Buyout) 9 of 22
State (Delaware) 1 of 1
Country (United States) 55 of 83
Year (2018) 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-22 Virgin Pulse

Providence, Rhode Island, United States

Virgin Pulse is a provider of employee-centric solutions that drive wellbeing, culture and productivity across organizations around the world. Virgin Pulse platform is purpose built to deliver a personalized, consumer-grade user experience designed to promote health, productivity, and culture across organizations and employees. Virgin Pulse was founded in 2004 and is based in Providence, Rhode Island.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-11 Allbridge

Raleigh, North Carolina, United States

Allbridge provides in-room technology solutions for properties, helping deliver one connected experience to customers with all data, video, and voice technologies from design and procurement to installation and ongoing management. Allbridge was founded in 2004 and is based in Raleigh, North Carolina.

Buy -

Seller(S) 3

SELLER

SSM Partners

Memphis, Tennessee, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

SSM Partners is a private equity firm that targets investments in smaller, rapidly growing, private companies based in the Southeast US. Areas of interest include business/outsourcing services, healthcare and consumer services. SSM focuses on transactions requiring $5 to $20 million of equity. Prospective transactions include growth financings, acquisitions, management led buyouts, and recapitalizations. SSM will also consider early-stage opportunities. SSM Partners is based in Memphis, Tennessee.

DEAL STATS #
Overall 23 of 28
Sector (Information Technology) 3 of 6
Type (Secondary Buyout) 5 of 5
State (Delaware) 1 of 1
Country (United States) 23 of 28
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-01 SmashFly Technologies

Concord, Massachusetts, United States

SmashFly Technologies, Inc. is an operator of enterprise recruitment marketing and candidate relationship management (CRM) technology. SmashFly Technologies was founded in 2007 and is based in Concord, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-25 ProviderTrust

Nashville, Tennessee, United States

ProviderTrust is an operator of a healthcare IT company that provides screening, monitoring and verification tools to simplify healthcare compliance programs. ProviderTrust was founded in 2010 and is based in Nashville, Tennessee.

Buy -
SELLER

Arsenal Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 10.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Arsenal Capital Partners is a private equity firm focused on middle-market healthcare, specialty industrial, and financial service companies. Specifically, Arsenal looks to acquire businesses in the areas of specialty chemicals, aerospace/defense, transportation, environmental services, business services, insurance, asset management, financial technology, medical products, healthcare IT, and healthcare contract research/manufacturing. The Firm typically seeks to commit $50 to $300 million per investment in profitable businesses with at least $10 million of EBITDA. Funds are generally used to support buyouts, recapitalizations, growth financings, consolidations, and divestitures. The Firm avoids investing in companies reliant on high levels of technology. Arsenal Capital Partners was formed in 2000 and is headquartered in New York City.

DEAL STATS #
Overall 24 of 35
Sector (Information Technology) 1 of 1
Type (Secondary Buyout) 11 of 16
State (Delaware) 1 of 1
Country (United States) 23 of 32
Year (2018) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-07 IGM Resins

Waalwijk, Netherlands

IGM Resins develops, manufactures, and supplies photoinitiators, acrylates, and additives for the UV inks & coatings industry. The company also offers specialty intermediates for the pharmaceutical and agricultural industries. IGM Resins was established in 1999 and is based in Waalwijk, Netherlands.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-16 Inhance Technologies

Houston, Texas, United States

Inhance Technologies is a provider of post-mold fluorination solutions and the major innovator in fluorine-based material science. Inhance Technologies’s portfolio of proprietary solutions is used across a wide range of end markets to enhance its customers’ products, allowing them to perform better, last longer, and adhere to increasingly stringent regulations. Inhance Technologies was founded in 1983 and is headquartered in Houston, Texas.

Sell -
SELLER

Triangle Capital

Raleigh, North Carolina, United States
Category Private Equity Firm
Founded 2007
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

DEAL STATS #
Overall 55 of 71
Sector (Information Technology) 4 of 4
Type (Secondary Buyout) 23 of 28
State (Delaware) 1 of 1
Country (United States) 54 of 70
Year (2018) 6 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-16 Carolina Beverage Group

Mooresville, North Carolina, United States

Carolina Beverage Group LLC (CBG) is a manufacturer of a dozen, high-quality, draft beers sold and distributed in five mid-Atlantic states under the Carolina Blonde and Cottonwood Ales brands. Carolina Beverage Group LLC was founded in 1997 and is based in Mooresville, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-06 TGaS Advisors

East Norriton, Pennsylvania, United States

TGaS Advisors is a provider of benchmarking and advisory services firm for commercial organizations in the life sciences industry, robust comparative intelligence and collaborative network membership services. TGaS Advisors was founded in 2004 and is based in East Pennsylvania.

Sell -
Mergr

Product

Company

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