Investment Summary

FTV Capital and Reliant Star Capital Exits Clearent

On March 30, 2018, private equity firm Advent International invested in information technology company Clearent from FTV Capital and Reliant Star Capital

Investment Highlights
  • This is Advent International’s 16th transaction in the Information Technology sector.
  • This is Advent International’s 75th transaction in the United States.
  • This is Advent International’s 2nd transaction in Missouri.
Investment Fate
  • Clearent merged with another company in 2021.

Investment Summary

Date 2018-03-30
Target Clearent
Sector Information Technology
Investor(s) Advent International
Sellers(s) FTV Capital
Reliant Star Capital
Deal Type Secondary Buyout
Advisor(s) Bryan Cave Leighton Paisner (BCLP) (Legal)

Target

Clearent

Creve Coeur, Missouri, United States
Clearent is a provider of full-service, payment solutions that leverages its proprietary payments platform to make doing business easier and more profitable for its sales partners. Clearent was founded in 2005 and is based in Creve Coeur, Missouri.

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Investor(S) 1

Investor

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 91.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 262 of 353
Sector: Information Technology M&A 16 of 29
Type: Secondary Buyout M&A Deals 40 of 58
State: Missouri M&A 2 of 2
Country: United States M&A 75 of 106
Year: 2018 M&A 6 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-01 TTS

Rosenheim, Germany

TTS designs and manufactures high-performance, mission-critical active thermal management solutions, primarily for medical and life sciences end markets. TTS is based in Rosenheim, Germany.

Buy £1.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-17 Zentiva

Prague, Czech Republic

Zentiva is a generics pharmaceutical company, offering generic medicines across all key therapeutic areas. Zentiva is based in Prague, Czech Republic.

Buy €1.9B

Seller(S) 2

SELLER

FTV Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1998
PE ASSETS 6.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

FTV Capital is a multi-stage private equity firm focused on providing capital to high-growth companies. FTV generally seeks to invest in software, business services, and financial services companies which enable financial institutions to expand and to operate more efficiently. Investment proceeds are typically used to fund rapid organic growth, provide shareholder liquidity, pursue add-on acquisitions, or acquire divestitures. FTV prefers to act as the lead or control investor and targets equity commitments of $10 to $85 million per transaction. FTV Capital was established in 1998 and was formerly known as FTVentures. FTV Capital is based in San Francisco with an additional office in New York City.


DEAL STATS #
Overall 39 of 62
Sector: Information Technology M&A 10 of 15
Type: Secondary Buyout M&A Deals 3 of 8
State: Missouri M&A 1 of 1
Country: United States M&A 36 of 55
Year: 2018 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-31 EBANX

Curitiba, Brazil

EBANX is a global financial company that offers end-to-end payment solutions across the entire cross-border e-commerce transaction flow, providing over 100 Latin American local payment options to global merchants eager to expand throughout the region. EBANX was founded in 2012 and is based in Curitiba, Brazil.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-22 Tango Card

Seattle, Washington, United States

Tango Card is a cloud-based digital gift card and incentives platform for enterprise customers providing employee rewards and customer incentives & rebates. Tango Card was founded in 2009 and is based in Seattle, Washington.

Buy -
SELLER

Reliant Star Capital

New York, New York, United States

Category Private Equity Firm
Founded 2005
Size Small
Type Sector Agnostic
DESCRIPTION

Reliant Star Capital, Inc. (RSC) is a private equity firm that invests in manufacturing, distribution and services businesses. RSC typically partners with quality management teams to pursue businesses offering critical products or services with strong growth potential, defensible market positions, and recurring revenues. RSC typically invests $1 to $10 million in businesses with at least $5 million in sales and $1 million of operating profits. RSC will consider MBOs, growth capital financings, recapitalizations, consolidations and corporate divestitures. In addition to providing equity, RSC will also consider subordinated debt investments. Reliant Star Capital, Inc. was formed in 2005 and has offices in New York City and Chicago.


DEAL STATS #
Overall 2 of 2
Sector: Information Technology M&A 1 of 1
Type: Secondary Buyout M&A Deals 2 of 2
State: Missouri M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2018 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-30 Tracelink

Wilmington, Massachusetts, United States

Tracelink is a provider of track and traces network for connecting the Life Sciences supply chain and eliminating counterfeit prescription drugs from the global marketplace. Tracelink was founded in 2009 and is based in Wilmington, Massachusetts.

Buy -