M&A Deal Summary

Platinum Equity Acquires Verra Mobility

On April 17, 2017, private equity firm Platinum Equity acquired safety/security company Verra Mobility from Goldman Sachs Merchant Banking

Acquisition Highlights
  • This is Platinum Equity’s 2nd transaction in the Safety/Security sector.
  • This is Platinum Equity’s 69th transaction in the United States.
  • This is Platinum Equity’s 2nd transaction in Arizona.
Investment Fate
  • Verra Mobility went public in 2018.

M&A Deal Summary

Date 2017-04-17
Target Verra Mobility
Sector Safety/Security
Buyer(s) Platinum Equity
Sellers(s) Goldman Sachs Merchant Banking
Deal Type Secondary Buyout

Target

Verra Mobility

Mesa, Arizona, United States
Verra Mobility is a provider of smart mobility, serving the world's largest commercial fleets and rental car companies in managing tolling transactions and violations for more than 8.5 million vehicles and operating more than 4,000 red-light, speed, and school bus stop arm safety cameras. Verra Mobility maintains its leadership position in the marketplace through meaningful scale and has demonstrated consistent revenue growth underscored by its differentiated transaction processing model. Verra Mobility was founded in 2016 and is based in Mesa, Arizona.

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Buyer(S) 1

Buyer

Platinum Equity

Beverly Hills, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 50.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Platinum Equity's headquarters in Beverly Hills, California.
Platinum Equity's headquarters in Beverly Hills, California.

Platinum Equity is a private equity firm focused on acquiring divestitures of larger public companies primarily in North America and Europe. Historically, Platinum targeted technology/software related businesses, however, the firm has since branched out beyond tech and will consider acquisitions in a broad range of industries including chemicals, communications, logistics, healthcare, automotive, industrial products, and business services. Platinum Equity was formed in 1995 by Tom Gores and is based in Beverly Hills, California.


DEAL STATS #
Overall 83 of 156
Sector: Safety/Security M&A 2 of 2
Type: Secondary Buyout M&A Deals 10 of 42
State: Arizona M&A 2 of 3
Country: United States M&A 69 of 121
Year: 2017 M&A 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-13 Winc

Mascot, Australia

Winc is a distributor of business products and services in Australia. The Company serves a diverse customer base: corporate customers including small, medium, and enterprise businesses; government customers including federal, state and territory governmental organizations in Australia; plus various education related customers. Winc is based in Mascot, New South Wales.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-16 Aventiv Technologies

Dallas, Texas, United States

Aventiv Technologies is a diversified technology company providing solutions to corrections and government services sectors. Aventiv Technologies is based in Dallas, Texas.

Buy -

Seller(S) 1

SELLER

Goldman Sachs Merchant Banking

New York, New York, United States

Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 155.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Goldman Sachs Merchant Banking Division is the investment arm of Goldman Sachs. The primary corporate investment group within the Merchant Banking Division is Goldman Sachs' direct investment arm. GS's direct investment arm consists of GS Capital Partners, GS Mezzanine Partners, and GS Growth Partners. GS Capital Partners is the direct corporate equity investment group which seeks LBO, recapitalization, and growth investments to help fund acquisitions, expansions, recapitalizations, restructurings, buyouts, and take privates. GS Capital Partners looks to invest between $50 and $800 million in opportunities in North/South America, Europe, Asia. GS Mezzanine Partners is the junior capital arm of Goldman Sachs. GS Mezzanine looks to invest between $200 million and and $800 million in transactions valued up to $10 billion. Investment proceeds are used to fund leveraged buyouts, expansion financings, recapitalizations, acquisitions, and restructurings. GS Growth looks to invest in growth equity transactions. The unit seeks to commit $20 to $200 million per investment. Other units within GS's merchant banking division include Real Estate, Infrastructure, and Urban Investments. Goldman Sachs Merchant Banking Division is based in New York City.


DEAL STATS #
Overall 73 of 126
Sector: Safety/Security M&A 1 of 2
Type: Secondary Buyout M&A Deals 20 of 34
State: Arizona M&A 2 of 3
Country: United States M&A 49 of 90
Year: 2017 M&A 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-22 Meilleurtaux

Paris, France

Meilleurtaux is a financial services provider with a broad and diversified range of financial services including loan insurance and mortgage brokerage, debt consolidation solutions, savings & investment products as well as P&C and health insurance distribution and brokerage offerings, available both online and through France’s largest network of 340 brokerage branches. Meilleurtaux was founded in 1999 and is based in Paris, France.

Sell £700M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-28 Industrial Container Services

Montebello, California, United States

Industrial Container Services is a provider of reusable container solutions in the United States, providing new and reconditioned steel, plastic, and fiber drums. With 49 facilities across the United States and Canada, ICS collects, reconditions and distributes over 10 million steel, poly and intermediate bulk containers annually and is the only company capable of offering comprehensive services, including pickup and reconditioning of containers of all major packaging types, new container manufacturing and distribution, to customers nationally. Industrial Container Services is based in Montebello, California.

Buy -