M&A Deal Summary

Siris Capital Group and CPP Investments Acquire EFI

On April 15, 2019, private equity firm Siris Capital Group and pension CPP Investments acquired technology hardware company EFI for 1.7B USD

Acquisition Highlights
  • This is Siris Capital Group’s 2nd and CPP Investments’ 1st transaction in the Technology Hardware sector.
  • This is Siris Capital Group’s 5th and CPP Investments’ 44th largest (disclosed) transaction.
  • This is Siris Capital Group’s 14th and CPP Investments’ 39th transaction in the United States.
  • This is Siris Capital Group’s 1st and CPP Investments’ 2nd transaction in New Hampshire.

M&A Deal Summary

Date 2019-04-15
Target EFI
Sector Technology Hardware
Buyer(s) Siris Capital Group
CPP Investments
Deal Type Going Private
Deal Value 1.7B USD
Advisor(s) Morgan Stanley
Greenhill & Co. (Financial)
O'Melveny & Myers (Legal)

Target

EFI

Londonderry, New Hampshire, United States
Entrance to Electronics for Imaging's corporate headquarters in Fremont, California.
Entrance to Electronics for Imaging's corporate headquarters in Fremont, California.
EFI is a provider of digital printing solutions. EFI's products include industrial super-wide and wide format, label and packaging, textile, and ceramic tile decoration digital inkjet printers. EFI's products are designed to automate print and business processes, streamline workflow, provide value-added services, and produce accurate digital output. EFI was formed in 1989 and is based in Londonderry, New Hampshire.

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Buyer(S) 2

Buyer

Siris Capital Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2011
PE ASSETS 5.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Siris Capital Group is a private equity firm focused on control investments in technology, telecommunications, and healthcare companies. Siris looks to acquire large companies valued from $500 million to $2 billion. The Firm was spun out of hedge fund SAC Capital Advisors in 2011. Siris Capital Group is based in New York City.


DEAL STATS #
Overall 15 of 21
Sector: Technology Hardware M&A 2 of 2
Type: Going Private M&A Deals 9 of 11
State: New Hampshire M&A 1 of 1
Country: United States M&A 14 of 19
Year: 2019 M&A 1 of 2
Size (of disclosed) 5 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-10 Travelport

Langley, United Kingdom

Travelport is a developer of a travel commerce platform to provide distribution, technology, payment and other solutions for the global travel and tourism industry. The company facilitates travel commerce by connecting the world’s leading travel providers with online and offline travel buyers in a proprietary business-to-business (B2B) travel marketplace. Travelport was founded in 2006 and is based in Langley, United Kingdom.

Buy $4.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-19 TPx Communications

Austin, Texas, United States

TPx Communications is a provider of UCaaS, Managed IT services and Managed Connectivity services, with approximately 30,000 customers and 53,000 customer locations across the U.S. TPx customers serve every business sector and include many government and not-for-profit enterprises. TPx Communications was established in 1998 and is based in Austin, Texas.

Buy -
Buyer
DESCRIPTION

CPP Investments is a Canadian pension fund focused on a variety of investing strategies, including public equities, debt, and alternative investments. The Firm's private equity arm looks to acquire direct stakes in private companies, as well as make fund investments and acquire secondary positions. For direct stakes in companies, CPP looks to invest across North American and Europe and seeks to commit a minimum of $150 million per transaction. CPP has no industry preferences however the Firm will not invest in real assets. CPP Investments was established in 1997 and is based in Toronto, Ontario.


DEAL STATS #
Overall 74 of 176
Sector: Technology Hardware M&A 1 of 2
Type: Going Private M&A Deals 12 of 34
State: New Hampshire M&A 2 of 2
Country: United States M&A 39 of 82
Year: 2019 M&A 7 of 21
Size (of disclosed) 44 of 60
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-08 IVC Evidensia

Bristol , United Kingdom

IVC Evidensia is a diversified vet services platform, an extensive network of clinics/hospitals, and comprehensive pet e-commerce and telemedicine offerings. IVC Evidensia was founded in 2011 and is based in Bristol, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-29 eBeauty

Hangzhou, China

eBeauty is a digital marketing and e-commerce service provider focusing on the beauty and personal care sector. eBeauty was founded in 2010 and is based in Hangzhou, China.

Buy -