M&A Deal Summary

New Era Technology Acquires FlexManage

On February 14, 2020, New Era Technology acquired information technology company FlexManage from Eureka Equity Partners

Acquisition Highlights
  • This is New Era Technology’s 2nd transaction in the Information Technology sector.
  • This is New Era Technology’s 3rd transaction in the United States.
  • This is New Era Technology’s 1st transaction in Illinois.

M&A Deal Summary
Date 2020-02-14
Target FlexManage
Sector Information Technology
Buyer(s) New Era Technology
Sellers(s) Eureka Equity Partners
Deal Type Add-on Acquisition

Target

FlexManage

Chicago, Illinois, United States
FlexManage is a provider of critical information technology and business services for customers ranging from large, multi-national corporations to small partnerships. FlexManage is the preferred outsourced solution across multiple disciplines including managed services, network integration, business intelligence applications, and IT strategy and execution for clients across numerous industries.

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Buyer(S) 1

Buyer

New Era Technology

New York, New York, United States
Category Company
Sector Information Technology
DESCRIPTION

New Era Technology provides a comprehensive suite of managed services and systems integration capabilities for a wide range of IT solutions, including collaboration, data networking, and security. New Era Technology is based in New York City.

DEAL STATS #
Overall 3 of 5
Sector (Information Technology) 2 of 4
Type (Add-on Acquisition) 1 of 3
State (Illinois) 1 of 2
Country (United States) 3 of 5
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-29 Cameo Solutions

Cincinnati, Ohio, United States

Cameo Solutions is a cloud Contact Center solution provider.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-08 Comstar Technologies

West Chester, Pennsylvania, United States

Comstar Technologies is a full-service provider of technology and telecommunications services to corporate and institutional customers. The company’s services include cloud-based VOIP (voice-over-internet protocol) phone systems, the installation, and maintenance of traditional phone systems, managed IT services, network infrastructure and cabling, and the integration of security, fire, and A/V systems. Comstar Technologies was founded in 1989 and is based in West Chester, Pennsylvania.

Buy -

Seller(S) 1

SELLER

Eureka Equity Partners

Philadelphia, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

Eureka Equity Partners is a private equity firm focused on partnering with management in acquiring middle-market companies generating sales up to $100 million. The Firm will consider both control and non-control investments. Sectors of interest include communications, consumer products and services, healthcare, and transportation. Eureka invests in the range of $10 to $25 million per transaction. Eureka's geographic coverage is within the US with a preference for opportunities located in the Eastern and Mid-Atlantic US. Eureka was formed in 2004 and is based in Philadelphia, Pennsylvania.

DEAL STATS #
Overall 19 of 23
Sector (Information Technology) 3 of 3
Type (Add-on Acquisition) 8 of 12
State (Illinois) 1 of 1
Country (United States) 19 of 23
Year (2020) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-19 West Academic

Saint Paul, Minnesota, United States

Legal Education Holdings, Inc. is a publisher of legal textbooks, casebooks, study guides, and other course-related materials in both print and digital media formats for law school faculty and students in the United States. Legal Education Holdings works with the leading legal scholars in the US and provides its products under the West Academic, Foundation Press and Gilbert imprints. West Academic was founded in 2013 and is based in Saint Paul, Minnesota.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-11 LegalPartners

Chicago, Illinois, United States

LegalPartners is an alternative legal services provider (“ALSP”) focused on outsourced team-based legal solutions, substantive engagements requiring sophisticated legal professional services, and other legal staffing services. LegalPartners is based in Chicago, Illinois.

Buy -
Mergr

Product

Company

Legal