M&A Deal Summary

Providence Equity Partners Acquires CloserStill

On December 20, 2018, private equity firm Providence Equity Partners acquired media company CloserStill from Inflexion and NVM Private Equity

Acquisition Highlights
  • This is Providence Equity Partners’ 25th transaction in the Media sector.
  • This is Providence Equity Partners’ 7th transaction in the United Kingdom.

M&A Deal Summary

Date 2018-12-20
Target CloserStill
Sector Media
Buyer(s) Providence Equity Partners
Sellers(s) Inflexion
NVM Private Equity
Deal Type Secondary Buyout
Advisor(s) Daiwa Corporate Advisory Ltd. (DC Advisory) (Financial)
Addleshaw Goddard (Legal)

Target

CloserStill

London, United Kingdom
CloserStill is a provider in business trade show operator focusing on the healthcare, learning, and technology, and veterinary sectors. CloserStill was founded in 2008 and is based in London, England.

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Buyer(S) 1

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 108 of 135
Sector (Media) 25 of 29
Type (Secondary Buyout) 24 of 38
Country (United Kingdom) 7 of 9
Year (2018) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-17 Tes Global

London, United Kingdom

Tes Global is an international provider of software services to make life easier for schools and teachers. All products and services are built with teachers and schools needs at the core, ensuring they are innovative, trusted education solutions. Tes Global products play a critical role helping teachers and school leaders deal with the challenges of teaching, including safeguarding and compliance, smart pupil management, and staff management. This dedication and focus supports educators across the globe in providing high quality education to millions of children using smart, flexible, and cost-effective solutions. A global Company, Tes Global was formed in 1910 and and operates across 10 offices, including in London, Sheffield, Hong Kong, Melbourne, Sydney, and Dubai.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-02 YourCause

Plano, Texas, United States

YourCause LLC is a Software as a Service (SaaS) provider leveraged to support corporate philanthropy using proprietary technology to build meaningful connections between corporations, employees, and nonprofits. YourCause LLC was founded in 2008 and is based in Plano, Texas.

Sell $157M

Seller(S) 2

SELLER

Inflexion

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 10.0B GBP
Size Mega
Type Sector Agnostic
DESCRIPTION

Inflexion is a private equity firm that specializes in investments in UK-based founder and family-owned businesses. Broad areas of interest include consumer products/services, business services, healthcare, industrials, technology, and financial services. The Firm's target investment size is £10 to £500 million. Inflexion was formed in 1999 and is based in London.


DEAL STATS #
Overall 31 of 61
Sector (Media) 2 of 2
Type (Secondary Buyout) 13 of 23
Country (United Kingdom) 31 of 60
Year (2018) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-19 European LifeCare

Søborg, Denmark

European LifeCare is a provider of vaccinations. European LifeCare has over 50 specialist clinics in Denmark and the UK where the company trades under a number of brands, including London Travel Clinic. European LifeCare was founded in 1998 and is based in Søborg, Denmark.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-21 UKFast

Manchester, United Kingdom

UKFast is a provider of dedicated servers, hosting and cloud hosting solutions to the private and public sector. UKFast was founded in 1999 and is based in Manchester, United Kingdom.

Buy £405M
SELLER

NVM Private Equity

Newcastle Upon Tyne, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 290M GBP
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

NVM Private Equity is an investor in growth-oriented UK-based companies. NVM does not have any sector preferences and looks to invest £2 to £10 million equity per transaction. NVM will consider a variety of transaction situations, including MBOs, MBIs, development capital financings, turnarounds, recapitalizations and early stage financings. NVM Private Equity was established in 1984 and was formerly known as Northern Venture Managers Ltd. NVM is based in Newcastle with additional offices in Edinburgh, Manchester, and Reading.


DEAL STATS #
Overall 27 of 37
Sector (Media) 2 of 3
Type (Secondary Buyout) 10 of 13
Country (United Kingdom) 27 of 37
Year (2018) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-10 Wear Inns

Billingham, United Kingdom

Wear Inns Ltd. is a company focused on acquiring and managing a chain of community pubs across the North of England, has purchased 9 pubs from TCG Bars.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-23 Lanner Group

Henley-in-Arden, United Kingdom

Lanner Group Ltd. specializes in predictive simulation for industrial clients. Their technology connects physical assets, processes, and resources into a single digital model that delivers actionable insights to make business operations and supply chains more resilient and efficient.

Sell -