M&A Deal Summary

Permira Acquires Boats Group

On December 29, 2020, private equity firm Permira acquired internet software and services company Boats Group from Apax

Acquisition Highlights
  • This is Permira’s 13th transaction in the Internet Software and Services sector.
  • This is Permira’s 36th transaction in the United States.
  • This is Permira’s 1st transaction in Florida.

M&A Deal Summary

Date 2020-12-29
Target Boats Group
Sector Internet Software and Services
Buyer(s) Permira
Sellers(s) Apax
Deal Type Secondary Buyout
Advisor(s) Evercore Group (Financial)
Kirkland & Ellis (Legal)

Target

Boats Group

Miami, Florida, United States
Boats Group is an online classifieds marketplace and technology provider for the recreational marine industry and operates the four web portals – BoatTrader, boats.com, YachtWorld, and CosasDeBarcos.com. Boats Group has offices in North America (Norfolk, Virginia and Vancouver, British Columbia) as well as in Europe (the United Kingdom, Spain & Italy). Boats Group was founded in 1999 and is based in Miami, Florida.

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Buyer(S) 1

Buyer

Permira

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1985
PE ASSETS 75.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Permira is a mega-sized private equity firm that targets large company investments around the world. Permira invests to support acquisitions, leveraged buyouts, take-privates, turnarounds, and growth buyouts. Areas of interest include healthcare, financial services, chemicals, consumer products and services, industrial products and services, technology, media, and telecom. Permira will consider opportunities in Europe, Asia, and North America. Permira was formed in 1985 and has offices in Menlo Park, Frankfurt, Luxembourg, London, Hong Kong, Madrid, Milan, Paris, Stockholm, Tokyo, Guernsey and New York City.


DEAL STATS #
Overall 140 of 159
Sector (Internet Software and Services) 13 of 19
Type (Secondary Buyout) 36 of 42
State (Florida) 1 of 1
Country (United States) 36 of 44
Year (2020) 9 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-20 Full Truck Alliance

Jiangsu, China

Full Truck Alliance is an online commercial freight platform in China in the full-truck-load (FTL) segment. Its mobile applications provide match-making services to shippers, third-party logistics providers and truck drivers in China’s road freight logistics market, improving transportation efficiency by reducing transaction costs and the number of empty return loads. Full Truck Alliance was founded in 2017 and is based in Jiangsu, China.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-29 Dr. Martens

London, United Kingdom

Dr. Martens is a global brand with a rich and diverse heritage and contemporary relevance. Its product segments include originals, fusion, kids, and casual, as well as accessories. Dr. Martens was founded in 1945 and is headquartered in London, England.

Sell -

Seller(S) 1

SELLER

Apax

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 77.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apax Partners is a mega-sized private equity investment group, operating across the United States, Europe, Israel and Asia. Broad industry sectors of interest include tech & telecom, media, retail & consumer, healthcare, financial services, and business services. Apax will consider both minority and majority investment positions and prefers companies with strong market positions and growth potential. The Firm generally pursues platform acquisitions valued from $1 to $5 billion. Apax Partners was formed in 1981 and is based in London.


DEAL STATS #
Overall 146 of 171
Sector (Internet Software and Services) 9 of 16
Type (Secondary Buyout) 53 of 61
State (Florida) 2 of 3
Country (United States) 55 of 63
Year (2020) 10 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-28 Azentio

Singapore, Singapore

Azentio provides core software to BFSI customers and ERP solutions to SMB enterprises primarily across Middle East and Africa, Asia Pacific, and India. The company's flagship products include Premia Astra (Core Insurance Solution), Kastle (Universal Banking Solution), AMLOCK (Financial Crime Detection and Management Solution), MFund Plus (Wealth & Asset Management Solution), and Orion (Enterprise Resource Planning Solution). Azentio was formed in 2020 and is based in Singapore.

Buy Rs10.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-01 Comax

Bnei Brak, Israel

Comax is a Software as a Service (SaaS) based retail ERP system that primarily serves the food retail space in Israel. Comax is based in Bnei Brak, Israel.

Buy -