M&A Deal Summary

Permira and General Atlantic Acquire Squarespace

On May 13, 2024, private equity firm Permira and growth capital firm General Atlantic acquired internet software and services company Squarespace for 7.2B USD

Acquisition Highlights
  • This is Permira’s 20th and General Atlantic’s 78th transaction in the Internet Software and Services sector.
  • This is Permira’s 6th and General Atlantic’s 2nd largest (disclosed) transaction.
  • This is Permira’s 44th and General Atlantic’s 170th transaction in the United States.
  • This is Permira’s 9th and General Atlantic’s 25th transaction in New York.

M&A Deal Summary

Date 2024-05-13
Target Squarespace
Sector Internet Software and Services
Buyer(s) Permira
General Atlantic
Deal Type Going Private
Deal Value 7.2B USD
Advisor(s) J.P. Morgan Securities (Financial)
Skadden, Arps, Slate, Meagher & Flom (Legal)

Target

Squarespace

New York, New York, United States
Squarespace is a cloud-based content management system that allows individuals and businesses to create and maintain websites and blogs. From designers creating the next generation of web and mobile experiences to anyone managing their own online presence for the first time, Squarespace provides elegant solutions that set new standards for online publishing. Squarespace was formed in 2003 and is based in New York, New York.

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Buyer(S) 2

Buyer

Permira

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1985
PE ASSETS 80.0B 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 164 of 170
Sector: Internet Software and Services M&A 20 of 20
Type: Going Private M&A Deals 16 of 17
State: New York M&A 9 of 9
Country: United States M&A 44 of 47
Year: 2024 M&A 2 of 5
Size (of disclosed) 6 of 63
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-02 BioCatch

Tel Aviv, Israel

BioCatch is a digital identity company that delivers behavioral biometrics analyzing human-device interactions to protect users and data. BioCatch was founded in 2011 and is based in Tel Aviv, Israel.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-06 PharmaCord

Jeffersonville, Indiana, United States

PharmaCord is a pharma services company that serves as a commercialization partner for life sciences organizations to enhance the patient experience. The company's comprehensive solutions support the patient journey for specialty medications through a range of services that raise awareness, facilitate access to treatment, improve affordability, and promote therapy adherence. PharmaCord is based in Jeffersonville, Indiana.

Buy -
Buyer

General Atlantic

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1980
PE ASSETS 105.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

General Atlantic is a large private equity firm that invests globally in growth-oriented public and private companies. Broad areas of interest include financial services, media and consumer, healthcare, enterprise solutions, communications and electronics, and energy. General Atlantic looks to invest $40 to $400 million in transactions that support growth, expansions, buy-outs, consolidations and build-ups. General Atlantic seeks to make 8 to 12 investments per year with an investment horizon of five to ten years. The Firm's geographic coverage spans North America; Europe; Asia/Pacific; and India. General Atlantic was formed in 1980 and is based in New York, New York.


DEAL STATS #
Overall 354 of 364
Sector: Internet Software and Services M&A 78 of 78
Type: Going Private M&A Deals 10 of 11
State: New York M&A 25 of 25
Country: United States M&A 170 of 175
Year: 2024 M&A 9 of 13
Size (of disclosed) 2 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-13 Epsilon Net

Thessaloniki, Greece

Epsilon Net operates in areas of information technology. Epsilon Net was founded in 1999 and is based in Thessaloniki, Greece.

Buy €240M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-11 Sustainable Development Capital

London, United Kingdom

Sustainable Development Capital is a developer, investor and fund manager focused on energy efficiency and decarbonization solutions. Sustainable Development Capital was founded in 2007 and is based in London, United Kingdom.

Buy -