M&A Deal Summary

Thoma Bravo, Northwood Ventures and New Heights Capital Acquire ABC Fitness Solutions

On November 8, 2017, private equity firms Thoma Bravo, Northwood Ventures and New Heights Capital acquired software company ABC Fitness Solutions

Acquisition Highlights
  • This is Thoma Bravo’s 25th, Northwood Ventures’ 2nd and New Heights Capital’s 1st transaction in the Software sector.
  • This is Thoma Bravo’s 60th, Northwood Ventures’ 54th and New Heights Capital’s 4th transaction in the United States.
  • This is Thoma Bravo’s 2nd, Northwood Ventures’ 1st and New Heights Capital’s 1st transaction in Arizona.

M&A Deal Summary

Date 2017-11-08
Target ABC Fitness Solutions
Sector Software
Buyer(s) Thoma Bravo
Northwood Ventures
New Heights Capital
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Stephens (Financial)
Rose Law Firm (Legal)

Target

ABC Fitness Solutions

Sherwood, Arizona, United States
ABC Fitness Solutions is a provider of software and related services for the health and fitness industry. ABC Fitness Solutions was founded in 1981 and is based in Sherwood, Arizona.

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Buyer(S) 3

Buyer

Thoma Bravo

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1980
PE ASSETS 127.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thoma Bravo is a private equity firm that primarily invests in or acquires US-based middle-market businesses. While Thoma Bravo will consider a variety of transaction situations, including take-privates, buyouts, carve-outs, recapitalizations, and growth equity financings, the Firm has a special interest in tech consolidation opportunities. Target companies generally have a history of profitability with EBITDA of at least $20 million. The Firm's equity commitment size range is $100 to $750 million. Sectors of interest include enterprise and infrastructure software, education, distribution, financial services and consumer goods/services. The Firm will not invest in new inventions or technologies, developmental products or services, start-ups, biotech, motion pictures, distressed businesses, oil/gas, or real estate. Thoma Bravo was formerly known as Thoma Cressey Bravo and before that Golder Thoma & Co. The Firm was originally formed in 1980 and is based in Chicago, Illinois.


DEAL STATS #
Overall 62 of 151
Sector: Software M&A 25 of 69
Type: Buyout (LBO, MBO, MBI) M&A Deals 17 of 28
State: Arizona M&A 2 of 3
Country: United States M&A 60 of 132
Year: 2017 M&A 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-04 Frontline Education

Malvern, Pennsylvania, United States

Frontline Education is a provider of cloud-based K-12 software that empowers more than 7,500 school districts and millions of educators to positively impact student learning. Frontline Education was founded in 1998 and is based in Malvern, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-17 SailPoint

Austin, Texas, United States

SailPoint provides independent identity and access management (IAM) solutions to securely and effectively deliver and manage user access from various devices to data and applications residing in the datacenter, on mobile devices, and in the cloud for organizations worldwide. SailPoint was founded in 2004 and is based in Austin, Texas.

Sell -
Buyer

Northwood Ventures

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1983
PE ASSETS 100M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Northwood Ventures is a private investment firm that invests at all stages of company development, including venture, buyout, consolidation, growth, recapitalization, and turnaround situations. Northwood prefers opportunities located within the US and will consider both minority and control situations. Northwood's typical investment ranges from $5 to $15 million. Target sectors include telecommunications, manufacturing, retailing/consumer, financial services, and service-oriented business industries. Northwood Ventures was formed in 1983 and is based in Syosset, New York.


DEAL STATS #
Overall 58 of 71
Sector: Software M&A 2 of 4
Type: Buyout (LBO, MBO, MBI) M&A Deals 17 of 22
State: Arizona M&A 1 of 2
Country: United States M&A 54 of 65
Year: 2017 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-18 Centerline Communication

West Bridgewater, Massachusetts, United States

Centerline Communication provides turnkey wireless telecommunications infrastructure services to carriers, equipment suppliers, and tower operators. Services include project management and real estate services, outsourced maintenance services for HVAC and generator units at wireless sites, and general construction services including installation and equipment modification. Centerline provides services across the U.S., with a particularly strong presence in the Northeast and Mid-Atlantic markets. Centerline Communication was founded in 2006 and is based in West Bridgewater, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-20 Danforth Advisors

Waltham, Massachusetts, United States

Danforth Advisors is an integrated and scalable “one-stop-shop” solution for life science companies for all operations from the controller through CFO performing activities ranging from accounting and operational finance services to financial planning and analysis, M&A and IPO readiness. Danforth Advisors has served as a strategic and trusted thought partner to over 300 clients across all stages of a company’s life cycle. Danforth Advisors was founded in 2011 and is based in Waltham, Massachusetts.

Buy -
Buyer

New Heights Capital

New York, New York, United States

Investor


Category Private Equity Firm
Founded 2006
Size Small
Type Sector Agnostic
DESCRIPTION

New Heights Capital is a private equity investment firm focused on buyouts and recapitalizations of profitable, lower middle-market companies located in the US and Canada. The Firm prefers businesses with non-cyclical revenues, defensible market positions, and growth potential, either organically or through acquisitions. Target companies generally have pre-tax profits of $1 to $10 million and at least $5 million of revenue. Sectors of interest include services, niche manufacturing, consumer products, healthcare, value-added distribution, and specialty retail/catalog/internet. New Heights Capital was formed in 2006 and is based in New York City.


DEAL STATS #
Overall 4 of 4
Sector: Software M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 2 of 2
State: Arizona M&A 1 of 1
Country: United States M&A 4 of 4
Year: 2017 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-01 Fresh Meal Plan

Boca Raton, Florida, United States

Fresh Meal Plan provides fresh organic food, with no preservatives or added sugar or salt and is tasty & healthy, calorie-controlled meals to customers. The company offers a variety of meal plans, including catered diets and mix and match options. Fresh Meal Plan is based in Boca Raton, Florida.

Buy -