M&A Deal Summary

Modus Acquires Ivize Services

On March 7, 2012, Modus acquired business services company Ivize Services from Azalea Capital and Harbert Private Capital

Acquisition Highlights
  • This is Modus’ 1st transaction in the Business Services sector.
  • This is Modus’ 1st transaction in the United States.
  • This is Modus’ 1st transaction in Georgia.

M&A Deal Summary

Date 2012-03-07
Target Ivize Services
Sector Business Services
Buyer(s) Modus
Sellers(s) Azalea Capital
Harbert Private Capital
Deal Type Add-on Acquisition

Target

Ivize Services

Atlanta, Georgia, United States
Ivize Services, Inc., headquartered in Atlanta, GA, is providers of litigations support, electronic data discovery, and related services, including data forensics and collections, imaging, coding, and reprographics.

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Buyer(S) 1

Buyer

Modus

Washington, District of Columbia, United States

Category Company
Founded 2008
Sector Information Technology
DESCRIPTION

Modus provides technology solutions encompassing all phases of the litigation lifecycle to law firms, corporations, and government entities. Modus is a client-focused, results-driven team of consultants, project managers, data engineers and developers whose combined knowledge of the legal industry and information systems provide an incomparable ability to design solutions tailored to meet the uniqueness of every case. Modus was founded in 2008 and is based in Washington, District of Columbia.


DEAL STATS #
Overall 1 of 1
Sector: Business Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Georgia M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2012 M&A 1 of 1

Seller(S) 2

SELLER

Azalea Capital

Greenville, South Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
Size Small
Type Sector Agnostic
DESCRIPTION

Azalea Capital is a private investment firm focused on providing equity capital to privately owned middle-market companies located in the Southeast US. Prospective transaction situations include management buyouts, divestitures, recapitalizations, and growth financings. Target companies typically have at least $10 million in revenue and are profitable with up to $8 million of EBITDA. Sectors of interest include niche manufacturing, value-added distribution, business services, consumer products, and healthcare. Azalea was formed in 1995 and is based in Greenville, South Carolina.


DEAL STATS #
Overall 6 of 15
Sector: Business Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 5
State: Georgia M&A 3 of 4
Country: United States M&A 6 of 15
Year: 2012 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-07 Modus

Washington, District of Columbia, United States

Modus provides technology solutions encompassing all phases of the litigation lifecycle to law firms, corporations, and government entities. Modus is a client-focused, results-driven team of consultants, project managers, data engineers and developers whose combined knowledge of the legal industry and information systems provide an incomparable ability to design solutions tailored to meet the uniqueness of every case. Modus was founded in 2008 and is based in Washington, District of Columbia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-18 Power Services Group

Cape Coral, Florida, United States

Power Services Group is an independent provider of highly technical turbine generator maintenance, repair and overhaul services primarily serving the power, industrial and petrochemical markets. Power Services Group is based in Cape Coral, Florida.

Buy -
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 12 of 44
Sector: Business Services M&A 1 of 4
Type: Add-on Acquisition M&A Deals 7 of 27
State: Georgia M&A 1 of 7
Country: United States M&A 12 of 43
Year: 2012 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-01 Techdrill Civil & Mining Services

Orange, Australia

Techdrill Civil & Mining Services is a drilling contractor and provides mobile greenfield and brownfield drilling services to a large number of resource exploration companies. Techdrill Civil & Mining Services is based in Orange, Australia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-10 FastTrack360

Melbourne, Australia

FastTrack360,is a p rovider of integrated software solutions to the Australian and Nordic labor hire industry. FastTrack’s software is a fully integrated end to end solutions from applicant tracking right through to payroll and billing. FastTrack360 was founded in 1981 and is based in Melbourne, Australia.

Buy $12M