Secondary Buyout • Internet Software and Services

Providence Equity Partners Acquires AirTies

On April 27, 2022, private equity firm Providence Equity Partners acquired internet software and services company AirTies from Invus Group

Acquisition Context
  • This is Providence Equity Partners’ 15th transaction in the Internet Software and Services sector.
  • This is Providence Equity Partners’ 3rd transaction in France.

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M&A Deal Summary

Date April 27, 2022
Target AirTies
Sector Internet Software and Services
Buyer(s) Providence Equity Partners
Sellers(s) Invus Group
Deal Type Secondary Buyout
Advisor(s) Stifel (Financial)
Baker & McKenzie
DLA Piper (Legal)

Target Company

AirTies

Paris, France
AirTies is a provider of cloud-based managed in-home Wi-Fi solutions, serving internet service providers ("ISPs") with a combined footprint in excess of 80 million households across the world. AirTies was founded in 2004 and is based in Paris, France.
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Buyer Overview 1

Buyer

Providence Equity Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 38.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Providence Equity Partners is a specialist private equity firm that targets investments in media, entertainment, communications, and information companies. Specifically, Providence seeks investments in wireless and wireline telephony, cable television content and distribution, music, film, publishing, radio and television broadcasting, and other media and communications sectors. Providence Equity looks to commit $150 million to $800 million of equity capital in transactions ranging from growth financings and recapitalizations, to buyouts and take-privates. Providence Equity Partners was formed in 1989 and has offices in Providence, Rhode Island; New York, New York; Los Angeles, California; London, United Kingdom; Hong Kong, China; and New Delhi, India.


Deal Context for Buyer #
Overall 126 of 137
Sector: Internet Software and Services 15 of 17
Type: Secondary Buyout 32 of 40
Country: France 3 of 4
Year: 2022 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-01 Grupo TorreSur

Sao Paulo, Brazil

Grupo TorreSur is a wireless tower company, that provides infrastructure sharing services which consist of a full turn-key tower leasing service, build-to-suit options, collocation platforms and tower space on a shared basis, under long-term leases, to wireless communications service providers. Grupo TorreSur was founded in 2010 and is based in Sao Paulo, Brazil.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-08 Vistage

San Diego, California, United States

Vistage is a forum for business leaders to share their issues and experiences to help each other generate better decisions and results for their companies. Vistage was founded in 1957 and is based in San Diego, California.

Sell -

Seller Profile 1

SELLER

Invus Group

New York, New York, United States

Category Private Equity Firm
Founded 1985
PE ASSETS 10.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Invus Group is a private, global investment firm that makes equity investments in private and public companies. For private companies, Invus seeks control as well as minority investments in high-growth companies where the firm can add strategic value. For public companies, Invus looks to invest in small to mid-cap stocks that are trading below the firm's assessment of their intrinsic business value. Areas of interest include consumer products and services, food, specialty retail, software, biotech, medical devices and products and services to professionals. Invus typically targets investments in the US, Europe, and Asia. The Invus Group was formed in 1985 and is based in New York City.


Deal Context for Seller #
Overall 5 of 6
Sector: Internet Software and Services 2 of 3
Type: Secondary Buyout 1 of 1
Country: France 1 of 1
Year: 2022 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-01 Parabilis Medicines

Cambridge, Massachusetts, United States

Parabilis Medicines is a biopharmaceutical company with a mission to drastically reduce the burden of disease on patients and their families by inventing new types of drugs that squelch abnormal physiological processes in ways previously imagined but considered unattainable. The company is pioneering the discovery, development and commercialization of Helicon peptides, a new drug modality that uniquely combines the cell-permeability and oral dosing optionality of traditional small molecule drugs with the high specificity, broad target accessibility and rapid discovery arc of monoclonal antibody drugs. Parabilis Medicines was founded in 2016 and is based in Cambridge, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-15 SnagAJob

Glen Allen, Virginia, United States

SnagAJob is an online community of hourly workers and a provider of workforce management solutions that allow employers to more effectively hire and manage their hourly workforce. SnagAJob was founded in 1999 and is based in Glen Allen, Virginia.

Sell -