Merger • Business Services

Secova Acquires UltraLink

On May 4, 2006, Secova acquired business services company UltraLink from Trident Capital and Forrest Binkley and Brown

Acquisition Context
  • This is Secova’s 1st transaction in the Business Services sector.
  • This is Secova’s 1st transaction in the United States.
  • This is Secova’s 1st transaction in California.

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M&A Deal Summary

Date May 4, 2006
Target UltraLink
Sector Business Services
Buyer(s) Secova
Sellers(s) Trident Capital
Forrest Binkley and Brown
Deal Type Merger

Target Company

UltraLink

Newport Beach, California, United States
Ultralink provides benefits outsourcing services, including premium billing, carrier reconciliation, HMO benchmarking and online enrollment and administration.
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Buyer Overview 1

Buyer

Secova

Budd Lake, New Jersey, United States

Category Company
Founded 1989
Sector Business Services
DESCRIPTION

Secova offers outsourced employee benefits administration services by analyzing and consulting its clients on their use of healthcare networks, health plan performance, and online enrollment services. Secova was founded in 1989 and is based in Budd Lake, New Jersey.


Deal Context for Buyer #
Overall 1 of 1
Sector: Business Services 1 of 1
Type: Merger 1 of 1
State: California 1 of 1
Country: United States 1 of 1
Year: 2006 1 of 1

Seller Profiles 2

SELLER

Trident Capital

San Mateo, California, United States

Category Private Equity Firm
Founded 1993
PE ASSETS 1.9B USD
Size Large
Type Sector Focused
DESCRIPTION

Trident Capital was a venture capital firm focused on investments at all company stages, from early and expansion stage investments to buyouts and recapitalizations. Trident focused on investments in tech-enabled sectors, including enterprise software/services, outsourcing and payments, healthcare software/services, internet/consumer, and energy/clean tech. In 2015, Trident ceased investing and the Firm's employees split to form Sunstone Partners, a growth equity firm, and Trident Capital Cybersecurity, a venture firm focused on the cyber security sector.


Deal Context for Seller #
Overall 30 of 86
Sector: Business Services 6 of 13
Type: Merger 1 of 2
State: California 10 of 31
Country: United States 29 of 81
Year: 2006 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-02 Surphace

San Francisco, California, United States

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Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-08-02 Webify Solutions

Austin, Texas, United States

Webify Solutions, Inc. is a provider of industry-specific software and services for building service oriented architectures (SOA). An SOA is a way of reusing a company's existing technology to more closely align with business goals helping to result in greater efficiencies, cost savings and productivity.

Sell -
SELLER

Forrest Binkley and Brown

Irvine, California, United States

Category Private Equity Firm
Founded 1993
Size Small
Type Sector Agnostic
DESCRIPTION

Forrest Binkley & Brown (FBB) is a private equity firm focused on investing in middle-market buyouts and growth capital financings in Southern California. FBB prefers to act as the lead investor and looks to partner with management when pursuing acqusitions. Typical investments range from $2 to $6 million per transaction. Forrest Binkley & Brown was formed in 1993 and is based in California, with offices in Irvine and Solana Beach.


Deal Context for Seller #
Overall 9 of 14
Sector: Business Services 1 of 1
Type: Merger 1 of 1
State: California 8 of 10
Country: United States 9 of 14
Year: 2006 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-03-10 Ascendent Telecommunications

Redwood City, California, United States

Ascendent has developed hardware and software telecommunications technology that allows any type of wireless phone to be easily linked to any type of PBX.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-02 Tekni-Plex

Wayne, Pennsylvania, United States

Tekni-Plex is a globally-integrated company focused on developing and manufacturing innovative packaging materials, medical compounds and precision-crafted medical tubing solutions for some of the most well-known names in the medical, pharmaceutical, personal care, household and industrial, and food and beverage industries. Tekni-Plex was founded in 1967 and is based in Wayne, Pennsylvania.

Sell -