Investment Summary

Palm Beach Capital and Adams Street Partners Invest In magicJack

On September 1, 2011, private equity firm Palm Beach Capital and asset manager Adams Street Partners invested in communications company magicJack

Investment Highlights
  • This is Palm Beach Capital’s 1st and Adams Street Partners’ 3rd transaction in the Communications sector.
  • This is Palm Beach Capital’s 22nd and Adams Street Partners’ 69th transaction in the United States.
  • This is Palm Beach Capital’s 18th and Adams Street Partners’ 3rd transaction in Florida.
Investment Fate
  • magicJack was sold to a strategic buyer in 2017 for 143M USD.

Investment Summary

Date 2011-09-01
Target magicJack
Sector Communications
Investor(s) Palm Beach Capital
Adams Street Partners
Deal Type Stake Purchase

Target

magicJack

West Palm Beach, Florida, United States
magicJack is a provider of carrier-class voice over Internet protocol (VoIP) and convergence solutions for fixed and wireless communication service providers. The Company’s main product offering, the magicJack, provides a low-cost alternative to consumers and businesses seeking additional phone lines or local carrier alternatives. magicJack was established in 1989 and is based in West Palm Beach, Florida.

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Investor(S) 2

Investor

Palm Beach Capital

West Palm Beach, Florida, United States

Investor


Category Private Equity Firm
Founded 2001
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Palm Beach Capital (PBC) is a generalist private equity firm that specializes in making investments in smaller private companies with at least $5 million in EBITDA. PBC prefers low technology business with high revenue growth rates. Target companies are typically valued between $20 to $300 million. PBC looks to commit $5 to $50 million per investment. Palm Beach Capital was formed in 2001 and is headquartered in Palm Beach, Florida.


DEAL STATS #
Overall 22 of 43
Sector: Communications M&A 1 of 1
Type: Stake Purchase M&A Deals 6 of 6
State: Florida M&A 18 of 31
Country: United States M&A 22 of 43
Year: 2011 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-16 North American Substation Services

Alamonte Springs, Florida, United States

North American Substation Services is an independent repair, maintenance, and installation provider for electric utility substations. North American Substation Services was founded in 2005 and is based in Altamonte Springs, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-30 Arriva Medical

Coral Springs, Florida, United States

Arriva Medical, based in Coral Springs, Florida, was formed in April 2009 by industry veterans David Wallace and Tim Stocksdale. The company is a national, mail-order distributor of diabetic testing supplies and related medical products, which are used by people with diabetes to self-monitor their blood glucose levels.

Sell -
Investor

Adams Street Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1972
PE ASSETS 60.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Adams Street Partners is a diversified, global investment firm that targets direct, fund of funds, and secondary investments. Adams' direct investing group covers co-investments in buyout transactions, as well as growth equity and venture capital commitments. The direct buyout and growth equity team looks to commit $5 to $30 million per transaction. For venture related investments, commitments of $5 to $20 million are provided to companies in the technology, life sciences and technology enabled services sectors. Typically, target companies have received prior financing from early stage venture firms and are seeking additional capital to fund product development and commercialization. Adams Street Partners was formed in 1972 and is based in Chicago, Illinois.


DEAL STATS #
Overall 75 of 152
Sector: Communications M&A 3 of 3
Type: Stake Purchase M&A Deals 2 of 3
State: Florida M&A 3 of 4
Country: United States M&A 69 of 140
Year: 2011 M&A 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-11 Naurex

Evanston, Illinois, United States

Naurex, Inc. is a clinical-stage biopharmaceutical company developing transformative therapies for challenging disorders of the central nervous system.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-11 MATRIXX Software

Foster City, California, United States

MATRIXX Software is a software communications service provider (CSP) customers an array of solutions designed to transform your business, IT and network operations to meet the demands of today's data-driven environment. MATRIXX Software is based in Foster City, California.

Buy -