M&A Deal Summary

MidOcean Partners and Investcorp Acquire Stratus

On February 1, 2001, private equity firm MidOcean Partners and asset manager Investcorp acquired software company Stratus from Investcorp for 115M USD

Acquisition Highlights
  • This is MidOcean Partners’ 1st and Investcorp’s 3rd transaction in the Software sector.
  • This is MidOcean Partners’ 7th and Investcorp’s 28th largest (disclosed) transaction.
  • This is MidOcean Partners’ 6th and Investcorp’s 22nd transaction in the United States.
  • This is MidOcean Partners’ 1st and Investcorp’s 4th transaction in Massachusetts.
Investment Fate
  • Stratus was sold to a consortium of financial buyers in 2014 for 352M USD.
  • Stratus was sold to a publicly-traded strategic buyer in 2022 for 225M USD.

M&A Deal Summary

Date 2001-02-01
Target Stratus
Sector Software
Buyer(s) MidOcean Partners
Investcorp
Sellers(s) Investcorp
Deal Type Secondary Buyout
Deal Value 115M USD

Target

Stratus

Maynard, Massachusetts, United States
Stratus is a developer, manufacturer, and marketer of highly specialized 'fault tolerant' servers 'mission critical' computing applications. Stratus’ flexible solutions – software, platform and services – prevent downtime before it occurs and ensure uninterrupted performance of essential business operations. Stratus was founded in 1980 and is based in Maynard, Massachusetts.

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Buyer(S) 2

Buyer

MidOcean Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 10.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

MidOcean Partners is a private equity firm focused on acquiring controlling interests in middle-market companies throughout North America. The Firm has a preference for consumer and business services sectors including automotive, food/beverage, retail, consumer products, information services, infrastructure services, training and more. MidOcean seeks opportunities valued between $150 and $750 million where it can commit $75 to $300 million. In addition to investing equity, MidOcean also looks to provide flexible credit solutions as well. MidOcean Partners was formed in 2003 and is based in New York, New York.


DEAL STATS #
Overall 7 of 61
Sector: Software M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 25
State: Massachusetts M&A 1 of 2
Country: United States M&A 6 of 56
Year: 2001 M&A 3 of 6
Size (of disclosed) 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-02-01 Noveon International

Cleveland, Ohio, United States

Noveon International, Inc is a global developer, producer, and marketer of technologically advanced specialty chemicals for a broad range of consumer and industrial applications.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-03-01 Center Parcs

Nottinghamshire, United Kingdom

Center Parcs Ltd. operates short-break holiday villages in the U.K. At its four villages, Center Parcs has over 3,300 villas and offers a range of indoor and outdoor sports and other leisure facilities. Center Parcs was formed in 1987 and is based in Nottinghamshire, United Kingdom.

Buy -
Buyer

Investcorp

New York, New York, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1982
PE ASSETS 53.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Investcorp is a global investment group focused on a variety of investment disciplines. Practice areas include private equity in North America and Western Europe, hedge funds, US real estate, technology investments, and Middle Eastern private equity. Within North America/Europe private equity, Investcorp targets market leaders with proven track records. It looks to invest $15 to $50 million in companies with revenues of $10 to $250 million. Investcorp's technology group sponsors growth-oriented control investments in the tech sector. Investcorp's Middle East practice focuses on buyout/build opportunities in North Africa and the Gulf Region. Target sectors include services, infrastructure, manufacturing, and energy. Investcorp was formed in 1982 and is based in Manama, Bahrain.


DEAL STATS #
Overall 34 of 189
Sector: Software M&A 3 of 18
Type: Secondary Buyout M&A Deals 2 of 60
State: Massachusetts M&A 4 of 4
Country: United States M&A 22 of 82
Year: 2001 M&A 2 of 5
Size (of disclosed) 28 of 35
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-01-08 ECI Conference Call Services

Wayne, New Jersey, United States

ECI Conference Call Services LLC was a provider of high quality dedicated conference services in the US.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-05-04 4thpass

Seattle, Washington, United States

4thpass offers a complete Java-based Mobile Application System (MAS) to provide the infrastructure that enables wireless carriers to provision new J2ME applications to their subscribers via wireless devices. MAS is a full featured, end-to-end provisioning solution, which offers the ability to create specific security models around the provisioning process and supports multiple billing models to maximize revenue from data applications.

Buy -

Seller(S) 1

SELLER

Investcorp

New York, New York, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1982
PE ASSETS 53.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Investcorp is a global investment group focused on a variety of investment disciplines. Practice areas include private equity in North America and Western Europe, hedge funds, US real estate, technology investments, and Middle Eastern private equity. Within North America/Europe private equity, Investcorp targets market leaders with proven track records. It looks to invest $15 to $50 million in companies with revenues of $10 to $250 million. Investcorp's technology group sponsors growth-oriented control investments in the tech sector. Investcorp's Middle East practice focuses on buyout/build opportunities in North Africa and the Gulf Region. Target sectors include services, infrastructure, manufacturing, and energy. Investcorp was formed in 1982 and is based in Manama, Bahrain.


DEAL STATS #
Overall 12 of 111
Sector: Software M&A 1 of 13
Type: Secondary Buyout M&A Deals 3 of 37
State: Massachusetts M&A 1 of 4
Country: United States M&A 10 of 63
Year: 2001 M&A 1 of 2
Size (of disclosed) 36 of 45
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-01-08 ECI Conference Call Services

Wayne, New Jersey, United States

ECI Conference Call Services LLC was a provider of high quality dedicated conference services in the US.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-05-04 4thpass

Seattle, Washington, United States

4thpass offers a complete Java-based Mobile Application System (MAS) to provide the infrastructure that enables wireless carriers to provision new J2ME applications to their subscribers via wireless devices. MAS is a full featured, end-to-end provisioning solution, which offers the ability to create specific security models around the provisioning process and supports multiple billing models to maximize revenue from data applications.

Buy -