M&A Deal Summary

SilverHaze Partners Acquires Spongecell

On June 5, 2011, private equity firm SilverHaze Partners acquired business services company Spongecell

Acquisition Highlights
  • This is SilverHaze Partners’ 1st transaction in the Business Services sector.
  • This is SilverHaze Partners’ 7th transaction in the United States.
  • This is SilverHaze Partners’ 1st transaction in New York.
Investment Fate
  • Spongecell was sold to a strategic buyer in 2018.

M&A Deal Summary

Date 2011-06-05
Target Spongecell
Sector Business Services
Buyer(s) SilverHaze Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Spongecell

New York, New York, United States
Spongecell intelligently manages calendar and event information through their web-based product. Spongecell was founded in 2006 and is based in New York City.

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Buyer(S) 1

Buyer

SilverHaze Partners

Washington, District of Columbia, United States

Category Private Equity Firm
Founded 2000
Size Small
Type Sector Agnostic
DESCRIPTION

SilverHaze Partners is a private investment firm that acts as both a fund of funds vehicle as well as a direct investor in companies. SilverHaze devotes 80% of capital to other buyout funds with the remainder reserved for opportunistic investments in technology related businesses. SilverHaze Partners was formed in 2000 and is based in McLean, Virginia.


DEAL STATS #
Overall 7 of 7
Sector: Business Services M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 4 of 4
State: New York M&A 1 of 1
Country: United States M&A 7 of 7
Year: 2011 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-22 Spectrum K12 School Solutions

Atlanta, Georgia, United States

Spectrum K12 School Solutions provides software and services to allow K-12 schools to manage and administer Special Education, 504, ESL, Title I and At Risk Students. The products also help schools with Medicaid Recovery.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-19 NextG Networks

San Jose, California, United States

NextG Networks, Inc.,is a facilities-based carrier's carrier that designs, permits, builds, owns, operates and manages Distributed Antenna System (DAS) networks that enhance wireless performance. NextG Networks® DAS networks balance the aesthetics requirements of communities and consumers with the network performance needs of wireless carriers. Performance improvements include increased voice quality, greater handling of call traffic, fewer dropped calls, better mobile coverage, faster file transfers, and enhanced video quality.

Sell $1.0B