M&A Deal Summary

Spring Lake Equity Partners Acquires Astadia

On July 31, 2018, venture capital firm Spring Lake Equity Partners acquired information technology company Astadia from The Gores Group

Acquisition Highlights
  • This is Spring Lake Equity Partners’ 6th transaction in the Information Technology sector.
  • This is Spring Lake Equity Partners’ 24th transaction in the United States.
  • This is Spring Lake Equity Partners’ 3rd transaction in Florida.

M&A Deal Summary

Date 2018-07-31
Target Astadia
Sector Information Technology
Buyer(s) Spring Lake Equity Partners
Sellers(s) The Gores Group
Deal Type Secondary Buyout
Advisor(s) Choate Hall & Stewart (Legal)

Target

Astadia

Jacksonville, Florida, United States
Astadia is a technology consulting firm with a focus on mainframe migrations that has benefited hundreds of clients, converted millions of lines of COBOL, and helped maximize the impact and minimize the risks of today’s blended enterprise and cloud IT ecosystem. Astadia was founded in 1996 and is based in Jacksonville, Florida.

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Buyer(S) 1

DESCRIPTION

Spring Lake Equity Partners is a private venture capital firm focused on later-stage technology company investments. The Firm looks to invest $7 to $15 million in growth-oriented companies with up to $100 million in revenue. Specific areas of interest include software, digital media, mobile, data center infrastructure, healthcare IT, and business/financial services. Spring Lake Equity was formed in 2013 after spinning-off from Tudor Investment Corporation. The Firm is based in Boston, Massachusetts.


DEAL STATS #
Overall 25 of 26
Sector (Information Technology) 6 of 7
Type (Secondary Buyout) 1 of 1
State (Florida) 3 of 3
Country (United States) 24 of 25
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-14 Single Digits

Bedford, New Hampshire, United States

Single Digits is a provider of high-speed internet access (HSIA) management and support solutions, guest management software and technical support services. Single Digits was founded in 2003 and is based in Bedford, New Hampshire.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-10 Thorne Research

Sandpoint, Idaho, United States

Thorne Research, Inc. is a developer and manufacturer of high-quality, premium supplements sold primarily through medical professionals and also directly to consumers. Thorne Research is based in Sandpoint, Idaho.

Sell -

Seller(S) 1

SELLER

The Gores Group

Beverly Hills, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION
The Gores Group's headquarters in Beverly Hills, California.
The Gores Group's headquarters in Beverly Hills, California.

The Gores Group is a private equity firm focused on acquiring controlling interests in mature and growing businesses. Gores considers investments across Europe and North America and typically seeks non-core assets of public corporations. While Gores is a generalist investor, the firm has a particular interest in technology, telecommunications, business services, and industrial companies. The Gores Group was formed in 1987 and has offices in Beverly Hills, California, and Boulder, Colorado.


DEAL STATS #
Overall 57 of 66
Sector (Information Technology) 10 of 12
Type (Secondary Buyout) 9 of 15
State (Florida) 6 of 6
Country (United States) 44 of 52
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-29 The Clark Group

Trenton, New Jersey, United States

The Clark Group, Inc. is a third-party logistics provider of distribution,consolidation, transportation management and international freight forwarding services. The Clark Group, Inc. is based in Trenton, New Jersey.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-17 Elo Touch

Milpitas, California, United States

Elo Touch is a global provider and manufacturer of high-quality and commercially durable touch screen systems and components for enterprise customers. Elo Touch was founded in 1971 and is based in Milpitas, California.

Sell -