M&A Deal Summary

Onex Partners Acquires Tes Global

On December 7, 2021, private equity firm Onex Partners acquired software company Tes Global from Providence Equity Partners

Acquisition Highlights
  • This is Onex Partners’ 1st transaction in the Software sector.
  • This is Onex Partners’ 6th transaction in the United Kingdom.

M&A Deal Summary
Date 2021-12-07
Target Tes Global
Sector Software
Buyer(s) Onex Partners
Sellers(s) Providence Equity Partners
Deal Type Secondary Buyout
Advisor(s) Arma Partners LLP
Morgan Stanley (Financial)
Weil Gotshal & Manges (Legal)

Target

Tes Global

London, United Kingdom
Tes Global is an international provider of software services to make life easier for schools and teachers. All products and services are built with teachers and schools needs at the core, ensuring they are innovative, trusted education solutions. Tes Global products play a critical role helping teachers and school leaders deal with the challenges of teaching, including safeguarding and compliance, smart pupil management, and staff management. This dedication and focus supports educators across the globe in providing high quality education to millions of children using smart, flexible, and cost-effective solutions. A global Company, Tes Global was formed in 1910 and and operates across 10 offices, including in London, Sheffield, Hong Kong, Melbourne, Sydney, and Dubai.

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Buyer(S) 1

Buyer

Onex Partners

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1984
PE ASSETS 23.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Onex Partners is the private equity investment arm of Onex Corp., a Canadian based public investment and asset management firm that also invests in real estate and credit securities. Onex Partners targets investments in large companies, and ONCAP which invests in smaller middle-market companies. Both groups consider North American businesses in a wide range of industries with a special interest in aerospace, healthcare, and industrial companies. Prospective transaction situations include corporate carve-outs where the firm can leverage restructuring capabilities. Onex Corp. was established in 1984 and is based in Toronto with an additional office in New York City.

DEAL STATS #
Overall 56 of 58
Sector (Software) 1 of 1
Type (Secondary Buyout) 15 of 16
Country (United Kingdom) 6 of 7
Year (2021) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-17 SGS

Louisville, Kentucky, United States

SGS is a global provider of packaging graphic services to branded consumer products companies, retailers and the printers that service them. SGS was founded in 1946 and is based in Louisville, Kentucky.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-08 Analytic Partners

Miami, Florida, United States

Analytic Partners is a cloud-based, managed software platform which provides adaptive solutions for deeper business understanding and right-time planning & optimization for marketing and beyond. We turn data into expertise so that our clients can create powerful connections with their customers and achieve commercial success.

Buy -

Seller(S) 1

SELLER

Providence Equity Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 36.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Providence Equity Partners is a specialist private equity firm that targets investments in media, entertainment, communications, and information companies. Specifically, Providence seeks investments in wireless and wireline telephony, cable television content and distribution, music, film, publishing, radio and television broadcasting, and other media and communications sectors. Providence Equity looks to commit $150 million to $800 million of equity capital in transactions ranging from growth financings and recapitalizations, to buyouts and take-privates. Providence Equity Partners was formed in 1989 and has offices in Providence, Rhode Island; New York, New York; Los Angeles, California; London, United Kingdom; Hong Kong, China; and New Delhi, India.

DEAL STATS #
Overall 95 of 100
Sector (Software) 9 of 9
Type (Secondary Buyout) 27 of 31
Country (United Kingdom) 4 of 5
Year (2021) 9 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-22 Seesaw

San Francisco, California, United States

Seesaw is a platform for meaningful student engagement that helps children demonstrate and share their learning. It helps teachers in getting a clear understanding of a student’s strengths and areas for growth and can tailor instruction to accelerate learning. Seesaw was formed in 2015 and is based in San Francisco, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-01 Grupo TorreSur

Sao Paulo, Brazil

Grupo TorreSur is a wireless tower company, that provides infrastructure sharing services which consist of a full turn-key tower leasing service, build-to-suit options, collocation platforms and tower space on a shared basis, under long-term leases, to wireless communications service providers. Grupo TorreSur was founded in 2010 and is based in Sao Paulo, Brazil.

Sell -
Mergr

Product

Company

Legal