M&A Deal Summary

Silver Lake Acquires ProService Hawaii

On May 17, 2023, private equity firm Silver Lake acquired staffing company ProService Hawaii from FFL Partners and Ardian

Acquisition Highlights
  • This is Silver Lake’s 1st transaction in the Staffing sector.
  • This is Silver Lake’s 93rd transaction in the United States.
  • This is Silver Lake’s 1st transaction in Hawaii.

M&A Deal Summary
Date 2023-05-17
Target ProService Hawaii
Sector Staffing
Buyer(s) Silver Lake
Sellers(s) FFL Partners
Ardian
Deal Type Secondary Buyout

Target

ProService Hawaii

Honolulu, Hawaii, United States
ProService Hawaii provides HR solutions & also provides bundled solutions include configured HR technology, payroll, scheduling, HR consultations, health benefits management, administrative & risk management, workers’ compensation, 401(k), and regulatory compliance. ProService Hawaii was founded in 1994 and is based in Honolulu, Hawaii.

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Buyer(S) 1

Buyer

Silver Lake

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 104.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Silver Lake is a mega-sized private equity firm focused on a broad range of growth investments in and acquisitions of technology companies. Silver Lake is subdivided into several investing groups including Silver Lake Partners, Silver Lake Sumeru, Silver Lake Waterman, Silver Lake Alpine, and Silver Lake Kraftwerk. Silver Lake Partners pursues large-scale private investments in companies within the technology, tech-enabled and related growth industries. Silver Lake Sumeru invests in middle market technology companies with established business models and attractive growth prospects where there is an opportunity to create value through operational transformation. Silver Lake Waterman provides growth capital to later-stage companies in the technology and technology-enabled industries, offering flexible solutions to finance expansion and acquisitions. Silver Lake Alpine is Silver Lake's debt and credit investing arm. Silver Lake Kraftwerk provides growth capital to technology and tech-enabled businesses driving efficiency across the operations, energy, and resources industries. Silver Lake Partners was formed in 1999 is headquartered in Menlo Park, California.

DEAL STATS #
Overall 133 of 135
Sector (Staffing) 1 of 1
Type (Secondary Buyout) 20 of 20
State (Hawaii) 1 of 1
Country (United States) 93 of 95
Year (2023) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-12 Qualtrics

Provo, Utah, United States

Qualtrics is a software-as-a-service company that helps clients monitor and gather customer insights. Qualtrics has pioneered a new category of software that enables organizations to deliver the experiences that turn their customers into fanatics, employees into ambassadors, brands into religions, and products into obsessions. Qualtrics was founded in 2002 and is based in Provo, Utah.

Buy $12.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-21 Splunk

San Francisco, California, United States

Splunk is a provider of operational intelligence software used to monitor, report and analyze real-time machine data as well as historical data across your IT infrastructure. Splunk was formed in 2003 and is based in San Francisco, California.

Sell $28.0B

Seller(S) 2

SELLER

FFL Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
PE ASSETS 5.4B USD
Size Mega
Type Sector Focused
DESCRIPTION

FFL Partners (formerly known as Friedman Fleischer & Lowe) is a private equity group focused on majority and minority investments in North American middle-market companies. Prospective businesses generally have revenues of $30 to $400 million and are valued between $50 and $300 million. Target situations include ownership restructurings in closely-held and family-owned companies, management buyouts, PIPEs, growth equity fundings, take privates, special situations, and recapitalizations. Sectors of interest include outsourced business services, education and training, marketing and media, consumer products, healthcare, and financial services. FFL Partners was formed in 1997 and is based in San Francisco.

DEAL STATS #
Overall 31 of 32
Sector (Staffing) 1 of 1
Type (Secondary Buyout) 13 of 13
State (Hawaii) 1 of 1
Country (United States) 29 of 30
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-07 American Advisors Group

Irvine, California, United States

American Advisors Group (AAG) is a purpose-driven organization dedicated to improving the lives of seniors. The group helps older Americans navigate their way into and through retirement with ease and peace of mind by providing them with personalized service and a number of home equity solutions designed to give them the best financial outcome for a better retirement. American Advisors Group was formed in 2004 and is based in Irvine, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-28 Johnson County Clin-Trials

Lenexa, Kansas, United States

Johnson County Clin-Trials (“JCCT”) is a clinical research site platform serving pharmaceutical and biotechnology companies and contract research organizations (“CROs”). JCCT specializes in Phase I–IV outpatient/inpatient clinical trials, encompassing both healthy volunteers and special populations trials and First-In-Man studies. Johnson County Clin-Trials is based in Lenexa, Kansas.

Buy -
SELLER

Ardian

Paris, France

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1996
PE ASSETS 125.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ardian is a mega-sized diversified investment group focused on opportunities worldwide. Ardian invests across and manages funds focused on small and mid-sized buyouts, growth capital financings, mezzanine, infrastructure, real estate, and co-investment opportunities. Ardian's small-buyouts group targets controlling interests in French, German, and Italian businesses valued up to €100 million. It's mid-sized buyout group seeks businesses valued up €1.5 billion and does not have any geographic limitations. The Infrastructure team looks for European opportunities and can commit up to €150 million per transaction. The Mezzanine group supports junior capital commitments of €5 to €80 million. In addition to direct investing, Ardian also manages various private equity fund-of-funds. Ardian was founded in 1996 and is based in Paris.

DEAL STATS #
Overall 212 of 222
Sector (Staffing) 2 of 2
Type (Secondary Buyout) 81 of 89
State (Hawaii) 1 of 1
Country (United States) 24 of 25
Year (2023) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-04 LIFTKET

Wurzen, Germany

LIFTKET is an industrial machinery manufacturing company that manufactures electric chain hoists, marketed worldwide. LIFTKET was founded in 1948 and is based in Wurzen, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-23 LeasePlan

Amsterdam, Netherlands

LeasePlan is a global provider of automotive fleet management and driver mobility services. Leaseplan operates in 32 countries and manages a fleet of over 1.55 million vehicles representing a total asset value of €21.4bn. LeasePlan was founded in 1963 and is based in Amsterdam, Netherlands.

Sell €4.9B
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