M&A Deal Summary

Recognize Partners and ABRY Partners Acquire Blue Mantis

On September 9, 2024, growth capital firm Recognize Partners and private equity firm ABRY Partners acquired information technology company Blue Mantis from ABRY Partners

Acquisition Highlights
  • This is Recognize Partners’ 6th and ABRY Partners’ 37th transaction in the Information Technology sector.
  • This is Recognize Partners’ 5th and ABRY Partners’ 145th transaction in the United States.
  • This is Recognize Partners’ 1st and ABRY Partners’ 2nd transaction in New Hampshire.

M&A Deal Summary

Date 2024-09-09
Target Blue Mantis
Sector Information Technology
Buyer(s) Recognize Partners
ABRY Partners
Sellers(s) ABRY Partners
Deal Type Secondary Buyout
Advisor(s) Citizens Capital Markets (Financial)
Kirkland & Ellis (Legal)

Target

Blue Mantis

Portsmouth, New Hampshire, United States
Blue Mantis is a provider of product procurement services, project services, and maintenance and managed IT services for state, local, and education (SLED) institutions. Blue Mantis was founded in 1992 and is based in Portsmouth, New Hampshire.

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Buyer(S) 2

Buyer

Recognize Partners

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2020
PE ASSETS 1.3B USD
Size Large
Type Sector Focused
DESCRIPTION

Recognize Partners is an investment platform focused on building technology services companies. The Firm was formed in 2020 and is headquartered in New York City.


DEAL STATS #
Overall 6 of 6
Sector (Information Technology) 6 of 6
Type (Secondary Buyout) 3 of 3
State (New Hampshire) 1 of 1
Country (United States) 5 of 5
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-16 Torc

Boston, Massachusetts, United States

Torc is a nearshore intelligent talent network connecting remote developers with jobs, provides career growth opportunities for its community, and a secure, AI-driven talent sourcing experience for companies. The company's emphasis on performance, productivity, and upskilling makes it the preferred platform for on-demand technical talent and the companies that need to hire them. Torc is based in Boston, Massachusetts.

Sell -
Buyer

ABRY Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 12.8B USD
Size Mega
Type Sector Focused
DESCRIPTION

ABRY Partners is a media and communications focused private equity investment firm. Specific areas of interest include television, publishing, convention/trade shows, for-profit training, couponing, monitoring services, telephone companies, communications towers, music libraries, database providers, wireless communications, and in-store advertisers. ABRY can provide both equity and mezzanine capital, typically committing $20 to $200 million of equity or $15 to $50 million of mezzanine capital per transaction. Prospective transaction situations include buyouts, expansion financings, platform acquisitions, consolidations, and recapitalizations. ABRY Partners was formed in 1989 and is headquartered in Boston, Massachusetts.


DEAL STATS #
Overall 171 of 171
Sector (Information Technology) 37 of 37
Type (Secondary Buyout) 41 of 41
State (New Hampshire) 2 of 2
Country (United States) 145 of 145
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-20 Nuspire

Detroit, Michigan, United States

Nuspire is a provider of managed security services delivering threat detection and remediation through a skilled team of experts, advanced R&D, and proprietary solutions that merge big data and deep human analytics. Nuspire was founded in 1999 and is based in Detroit, Michigan.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-16 Options

London, United Kingdom

Options provides outsourced financial technology and managed IT services to the global capital markets. Its clients include the leading global investment banks, hedge funds, funds of funds, proprietary trading firms, market makers, broker/dealers, private equity houses, and exchanges. Options was founded in 1993 and is based in London, United Kingdom.

Sell -

Seller(S) 1

SELLER

ABRY Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 12.8B USD
Size Mega
Type Sector Focused
DESCRIPTION

ABRY Partners is a media and communications focused private equity investment firm. Specific areas of interest include television, publishing, convention/trade shows, for-profit training, couponing, monitoring services, telephone companies, communications towers, music libraries, database providers, wireless communications, and in-store advertisers. ABRY can provide both equity and mezzanine capital, typically committing $20 to $200 million of equity or $15 to $50 million of mezzanine capital per transaction. Prospective transaction situations include buyouts, expansion financings, platform acquisitions, consolidations, and recapitalizations. ABRY Partners was formed in 1989 and is headquartered in Boston, Massachusetts.


DEAL STATS #
Overall 101 of 103
Sector (Information Technology) 23 of 24
Type (Secondary Buyout) 32 of 33
State (New Hampshire) 1 of 1
Country (United States) 88 of 88
Year (2024) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-20 Nuspire

Detroit, Michigan, United States

Nuspire is a provider of managed security services delivering threat detection and remediation through a skilled team of experts, advanced R&D, and proprietary solutions that merge big data and deep human analytics. Nuspire was founded in 1999 and is based in Detroit, Michigan.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-16 Options

London, United Kingdom

Options provides outsourced financial technology and managed IT services to the global capital markets. Its clients include the leading global investment banks, hedge funds, funds of funds, proprietary trading firms, market makers, broker/dealers, private equity houses, and exchanges. Options was founded in 1993 and is based in London, United Kingdom.

Sell -