M&A Deal Summary

Providence Equity Partners, NexPhase Capital and HPS Investment Partners Acquire Brandt Information Services

On June 5, 2024, private equity firm Providence Equity Partners, private equity firm NexPhase Capital and lender HPS Investment Partners acquired internet software and services company Brandt Information Services from NexPhase Capital

Acquisition Highlights
  • This is Providence Equity Partners’ 16th, NexPhase Capital’s 4th and HPS Investment Partners’ 1st transaction in the Internet Software and Services sector.
  • This is Providence Equity Partners’ 85th, NexPhase Capital’s 40th and HPS Investment Partners’ 7th transaction in the United States.
  • This is Providence Equity Partners’ 7th, NexPhase Capital’s 5th and HPS Investment Partners’ 1st transaction in Florida.

M&A Deal Summary
Date 2024-06-05
Target Brandt Information Services
Sector Internet Software and Services
Buyer(s) Providence Equity Partners
NexPhase Capital
HPS Investment Partners
Sellers(s) NexPhase Capital
Deal Type Secondary Buyout
Advisor(s) Shea & Company LLC
TD Securities
VRA Partners LLC (Financial)
Choate Hall & Stewart (Legal)

Target

Brandt Information Services

Tallahassee, Florida, United States
Brandt Information Services provides Software-as-a-Service recreational licensing solutions for local, state, and federal government agencies to administer the issuance of fishing, hunting, and other recreational licenses and permits. Brandt Information Services was founded in 1985 and is based in Tallahassee, Florida.

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Buyer(S) 3

Buyer

Providence Equity Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 36.0B 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 STATS #
Overall 135 of 135
Sector (Internet Software and Services) 16 of 16
Type (Secondary Buyout) 38 of 38
State (Florida) 7 of 7
Country (United States) 85 of 85
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-29 Viva Gym

Madrid, Spain

Viva Gym is a provider of an ultra-affordable, highly accessible gyms that make it easier for people on lower incomes to exercise, leading to healthier lifestyles and reduced risk of chronic disease. Viva Gym is based in Madrid, Spain.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-21 Superstruct

London, United Kingdom

Superstruct is a global platform of live music festivals and music events in Europe and Australia. Its well-diversified portfolio includes some of Europe’s most popular festivals and live event formats, among them Flow, Arenal Sound, Zwarte Cross, elrow, Victorious, Resurrection Fest and Lost Village, alongside established capabilities in brand partnerships, merchandise, staging and travel solutions. Superstruct was founded in 2017 and is based in London, England.

Sell -
Buyer

NexPhase Capital

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2007
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Moelis Capital Partners (MCP) is the private equity investment arm of investment bank Moelis & Company. MCP targets growth equity and control buyouts requiring equity investments of $25 to $75 million. Moelis has particular interest in the business services, consumer and retail, financial services, healthcare services, industrial and telecom industries. Moelis Capital Partners was formed in 2007 and is based in New York City.

DEAL STATS #
Overall 41 of 42
Sector (Internet Software and Services) 4 of 4
Type (Secondary Buyout) 10 of 10
State (Florida) 5 of 5
Country (United States) 40 of 40
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-17 Action Behavior Centers

Austin, Texas, United States

Action Behavior Centers is a provider of ABA-therapy for individuals. Action Behavior Centers was founded in 2016 and is based in Austin, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-06 Insurance Systems

Etobicoke, Ontario, Canada

Insurance Systems provides enterprise software solutions to the property and casualty insurance industry. The Company's flagship product, ISI Enterprise, allows insurance carriers to manage the full policy lifecycle, including policy administration, claims, billing, accounting, and reinsurance. Insurance Systems was formed in 1997 and is based in Etobicoke, Ontario.

Buy -
Buyer

HPS Investment Partners

Investor Investor Investor Investor Investor

Category Lender
Founded 2007
PE ASSETS 104.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HPS Investment Partners is a global investment firm that seeks to provide capital solutions clients. The Firm manages various strategies across the capital structure that include syndicated leveraged loans and high yield bonds to privately negotiated senior secured debt and mezzanine investments, asset-based leasing and private equity. The Firm looks to invest in companies large and small, through standard or customized solutions. HPS was formed in 2007 and is based in New York City.

DEAL STATS #
Overall 10 of 10
Sector (Internet Software and Services) 1 of 1
Type (Secondary Buyout) 3 of 3
State (Florida) 1 of 1
Country (United States) 7 of 7
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-01 SGS

Louisville, Kentucky, United States

SGS is a global provider of packaging graphic services to branded consumer products companies, retailers and the printers that service them. SGS was founded in 1946 and is based in Louisville, Kentucky.

Buy -

Seller(S) 1

SELLER

NexPhase Capital

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2007
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Moelis Capital Partners (MCP) is the private equity investment arm of investment bank Moelis & Company. MCP targets growth equity and control buyouts requiring equity investments of $25 to $75 million. Moelis has particular interest in the business services, consumer and retail, financial services, healthcare services, industrial and telecom industries. Moelis Capital Partners was formed in 2007 and is based in New York City.

DEAL STATS #
Overall 22 of 22
Sector (Internet Software and Services) 3 of 3
Type (Secondary Buyout) 10 of 10
State (Florida) 2 of 2
Country (United States) 21 of 21
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-17 Action Behavior Centers

Austin, Texas, United States

Action Behavior Centers is a provider of ABA-therapy for individuals. Action Behavior Centers was founded in 2016 and is based in Austin, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-06 Insurance Systems

Etobicoke, Ontario, Canada

Insurance Systems provides enterprise software solutions to the property and casualty insurance industry. The Company's flagship product, ISI Enterprise, allows insurance carriers to manage the full policy lifecycle, including policy administration, claims, billing, accounting, and reinsurance. Insurance Systems was formed in 1997 and is based in Etobicoke, Ontario.

Buy -
Mergr

Product

Company

Legal