M&A Deal Summary

New Mountain Capital and Antares Capital Acquire Real Chemistry

On May 29, 2019, private equity firms New Mountain Capital and Antares Capital acquired information technology company Real Chemistry from Mountaingate Capital

Acquisition Highlights
  • This is New Mountain Capital’s 10th and Antares Capital’s 3rd transaction in the Information Technology sector.
  • This is New Mountain Capital’s 54th and Antares Capital’s 41st transaction in the United States.
  • This is New Mountain Capital’s 4th and Antares Capital’s 4th transaction in California.

M&A Deal Summary
Date 2019-05-29
Target Real Chemistry
Sector Information Technology
Buyer(s) New Mountain Capital
Antares Capital
Sellers(s) Mountaingate Capital
Deal Type Secondary Buyout
Advisor(s) Petsky Prunier (Financial)

Target

Real Chemistry

San Francisco, California, United States
Real Chemistry is a global health company, focused on delivering analytics-driven, digital-first solutions to the healthcare industry. Real Chemistry uses proprietary technology, healthcare-specific data analytics and deep subject matter expertise to enable its clients to efficiently engage with the broader healthcare ecosystem – including consumers, providers, physicians and payors – and address complex commercial challenges, such as physician education, clinical trial engagement, consumer disease awareness, patient engagement, brand positioning and value articulation. Real Chemistry was founded in 2001 and is based in San Francisco, California.

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Buyer(S) 2

Buyer

New Mountain Capital

New York, New York, United States
Category Private Equity Firm
Founded 2000
PE ASSETS 35.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

New Mountain Capital is a private investment firm focused on investment in public and private companies in a variety of industries. New Mountain generally invests $100 to $500 million per transaction and looks for businesses with strong market positions and high barriers to entry. New Mountain also prefers businesses that succeed in both good and bad economies. Sectors of interest include education, healthcare, business services, federal IT services, media, software, consumer products, logistics, financial services and technologies, and energy. New Mountain Capital was formed in 2000 and is based in New York City.

DEAL STATS #
Overall 58 of 95
Sector (Information Technology) 10 of 18
Type (Secondary Buyout) 20 of 38
State (California) 4 of 9
Country (United States) 54 of 90
Year (2019) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-16 Avantor

Radnor, Pennsylvania, United States

Avantor is a provider of ultra-high purity materials and customized solutions to customers in the life sciences and advanced technology markets. Avantor was incorporated in 1904 and is based in Radnor, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-21 Equian

Indianapolis, Indiana, United States

Equian LLC is a healthcare information services company focused on lowering the cost of care by eliminating waste. Equian was founded in 1987 and is based in Indianapolis, Indiana.

Sell $3.2B
Buyer

Antares Capital

Miami, Florida, United States

Investor Investor

Category Private Equity Firm
Founded 1993
Size Small
Type Sector Agnostic
DESCRIPTION

Antares Capital is a private investment group that targets growth capital financings as well as management buyout opportunities. The Firm focuses on investments based in the Southeast US and Texas. Prospective companies generally have proven business models, modest capital requirements for growth, and operate in large and growing markets. The Firm looks to commit $500k to $5 million per investment. Antares will not invest in real estate, mineral exploration, distributors, franchisees, or project financings. Antares was founded in 1993 and is based in Miami, Florida.

DEAL STATS #
Overall 42 of 55
Sector (Information Technology) 3 of 3
Type (Secondary Buyout) 25 of 30
State (California) 4 of 7
Country (United States) 41 of 54
Year (2019) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-28 Five Star Food Service

Chattanooga, Tennessee, United States

Five Star Food Service is a provider of micro-markets, office coffee and water services, vending solutions, and corporate dining services in the Southeast. Five Star Food Service was founded in 1993 and is based in Chattanooga, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-10 Aspen Medical Products

Irvine, California, United States

Aspen Medical Products is a designer, developer, manufacturer, and marketer of upper and lower spinal orthopedic bracing products. Aspen primarily sells its products through the acute care market, as they offer a high level of motion restriction and are used by patients in need of short-term treatment from severe injuries, have urgent medical conditions, and are recovering from surgery. Aspen Medical Products was founded in 2000 and is based in Irvine, California.

Buy -

Seller(S) 1

SELLER

Mountaingate Capital

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2016
Size Small
Type Sector Agnostic
DESCRIPTION

Mountaingate Capital is a private equity firm focused on acquiring middle-market companies with $5 to $25 million of EBITDA. The Firm focuses on growth-oriented companies in the business services, specialty manufacturing, marketing, and distribution sectors. Mountaingate looks to partner with management when investing and will consider transaction situations from buyouts, to consolidations and recapitalizations. Mountaingate Capital was formed in 2016 and is based in Denver, Colorado.

DEAL STATS #
Overall 1 of 5
Sector (Information Technology) 1 of 2
Type (Secondary Buyout) 1 of 4
State (California) 1 of 1
Country (United States) 1 of 5
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-29 Anteriad

Rye Brook, New York, United States

Anteriad is a provider of multi-channel B2B database products and services solutions. MeritDirect leverages its major database technology platform to give multi-channel marketers access to the most comprehensive, current, and relevant B2B data in the market so they can optimize and improve their customer acquisition and retention efforts. Anteriad was founded in 2000 and is based in Rye Brook, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-10 Revunit

Bentonville, Arkansas, United States

RevUnit is a digital strategy and product studio helping enterprise workforces leverage technology to work better. RevUnit was formed in 2012 and is based in Bentonville, Arkansas.

Buy -
Mergr

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