M&A Deal Summary

Parthenon Capital Acquires eSecLending

On August 12, 2013, private equity firm Parthenon Capital acquired financial services company eSecLending from TA Associates

Acquisition Highlights
  • This is Parthenon Capital’s 8th transaction in the Financial Services sector.
  • This is Parthenon Capital’s 36th transaction in the United States.
  • This is Parthenon Capital’s 6th transaction in Massachusetts.

M&A Deal Summary
Date 2013-08-12
Target eSecLending
Sector Financial Services
Buyer(s) Parthenon Capital
Sellers(s) TA Associates
Deal Type Secondary Buyout

Target

eSecLending

Boston, Massachusetts, United States
eSecLending is an independent securities lending agent providing customized securities lending, auction and collateral management solutions for institutional investors worldwide. eSecLending was founded in 2000 and is based in Boston, Massachusetts.

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Buyer(S) 1

Buyer

Parthenon Capital

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 5.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Parthenon Capital is a private equity firm focused on investing in service-based businesses with recurring revenues, defensible niches and competitive advantages. Parthenon looks for businesses valued between $75 and $750 million operating in sectors that include business services, financial services, manufacturing, technology-enabled services, and distribution/logistics. Prospective transaction types include recapitalizations, management buyouts, acquisitions, privatizations, and growth capital financings. Parthenon Capital was formed in 1998 and has offices in Boston, Massachusetts and San Francisco, California.

DEAL STATS #
Overall 36 of 61
Sector (Financial Services) 8 of 13
Type (Secondary Buyout) 4 of 7
State (Massachusetts) 6 of 9
Country (United States) 36 of 60
Year (2013) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-14 Coastal Credit

Indianapolis, Indiana, United States

Coastal Credit is a subprime auto finance company that acquires and services auto receivables from both independent and franchised dealers. Coastal operates in both the military and civilian markets across 27 U.S. states. Coastal Credit was founded in 1984 and is based in Indianapolis, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-15 Bracket

Wayne, Pennsylvania, United States

Bracket is a clinical trial technology and specialty services provider dedicated to helping biopharmaceutical sponsors and contract research organizations increase the power of their clinical research data by leveraging core competencies in Science, Technology, and Service.

Buy -

Seller(S) 1

SELLER

TA Associates

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1968
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TA Associates is a private equity firm that targets investments in middle-market and large companies around the world. TA will consider control or minority investments in profitable companies and looks to commit between $70 and $500 million per transaction. TA proactively reaches out to companies directly in sourcing potential investment opportunities. Prospective businesses are generally valued between $100 million and $3 billion. Areas of interest include technology, software, communications, financial services, healthcare, business services, semiconductors/electronics, and consumer products/services. In addition to investing equity capital, TA also makes subordinated debt investments. TA's geographic preference is North America, Asia/Pacific, and Europe. TA Associates was formed in 1968 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 167 of 255
Sector (Financial Services) 20 of 31
Type (Secondary Buyout) 16 of 49
State (Massachusetts) 22 of 25
Country (United States) 153 of 206
Year (2013) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-06 Flashtalking

London, United Kingdom

Flashtalking provides a software platform for intelligent ad serving – the creation and delivery of online advertising campaigns, including robust post-delivery analytics and reporting. Customers build, execute and track campaigns via an efficient self-service platform. The company offers products for desktop, tablet, and mobile devices across multiple ad formats, including video, rich media, and standard display. Flashtalking was founded in 2001 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-14 BATS Global Markets

Lenexa, Kansas, United States

BATS Global Markets, Inc. (BATS) is a operator of securities markets, serving the needs of customers in the U.S. and European equities and listings industries, as well as the U.S. options market. The company recently merged with Direct Edge Holdings LLC and is focused on Making Markets Better for traders, investors and issuers.

Buy -
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