M&A Deal Summary

Parthenon Capital Acquires MRO

On October 30, 2019, private equity firm Parthenon Capital acquired information services company MRO from Imperial Capital

Acquisition Highlights
  • This is Parthenon Capital’s 1st transaction in the Information Services sector.
  • This is Parthenon Capital’s 53rd transaction in the United States.
  • This is Parthenon Capital’s 3rd transaction in Pennsylvania.

M&A Deal Summary
Date 2019-10-30
Target MRO
Sector Information Services
Buyer(s) Parthenon Capital
Sellers(s) Imperial Capital
Deal Type Secondary Buyout
Advisor(s) Houlihan Lokey (Financial)
Torys LLP (Legal)

Target

MRO

Norristown, Pennsylvania, United States
MRO is a provider of release of information (ROI) solutions. In addition to ROI, MRO’s suite of PHI disclosure management solutions is comprised of government and commercial payer audit management and accounting of disclosures services and technologies. MRO’s technology-driven services reduce the risk of improper disclosure of PHI, ensure unmatched accuracy and enhance turnaround times. MRO was founded in 2002 and is based in Norristown, Pennsylvania.

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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 53 of 61
Sector (Information Services) 1 of 2
Type (Secondary Buyout) 6 of 7
State (Pennsylvania) 3 of 3
Country (United States) 53 of 60
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-16 DaySmart Software

Ann Arbor, Michigan, United States

DaySmart Software is a provider of business management software to consumer-facing small and medium sized enterprises. DaySmart offers software and supporting services that provide owners and managers of small, consumer-focused service establishments the information and workflow capabilities required to operate their businesses effectively. DaySmart Software was founded in 1999 and is based in Ann Arbor, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-19 ScentAir

Charlotte, North Carolina, United States

ScentAir is a provider of scent marketing solutions to many brands around the world. ScentAir offers 700+ scents as well as customized fragrances to help customers build brand identity and improve customer experiences. ScentAir was founded in 1994 and is based in Charlotte, North Carolina.

Sell -

Seller(S) 1

SELLER

Imperial Capital

Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 4.8B CAD
Size Large
Type Sector Focused
DESCRIPTION

Imperial Capital Group is a private equity firm focused on investments and acquisitions in the healthcare, business services, and consumer services sectors. The Firm will consider opportunities throughout the US and Canada and generally looks at companies with $20 to $250 million of revenue and up to $40 million of EBITDA. Imperial Capital Group was formed in 1989 and is headquartered in Toronto.

DEAL STATS #
Overall 8 of 14
Sector (Information Services) 1 of 1
Type (Secondary Buyout) 3 of 5
State (Pennsylvania) 1 of 1
Country (United States) 6 of 10
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-26 Total Eye Care Partners

United States

Total Eye Care Partners is a provider of optometry services. Total Eye Care Partners is based in United States.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-01 NeuroInternational Healthcare

Sarasota, Florida, United States

NeuroInternational Healthcare is a neurobehavioral supported and assisted living program for individuals with acquired and traumatic brain injuries (ABI/TBI) situated in world-class facilities. NeuroInternational Healthcare is based in Sarasota, Florida.

Sell -
Mergr

Product

Company

Legal