M&A Deal Summary

TA Associates, Clearlake Capital, Partners Group AG, Insight Partners and OMERS Private Equity Acquire Precisely

On March 3, 2021, private equity firm TA Associates, private equity firm Clearlake Capital, asset manager Partners Group AG, venture capital firm Insight Partners and private equity firm OMERS Private Equity acquired software company Precisely from Centerbridge Partners

Acquisition Highlights
  • This is TA Associates’ 70th, Clearlake Capital’s 15th, Partners Group AG’s 5th, Insight Partners’ 32nd and OMERS Private Equity’s 5th transaction in the Software sector.
  • This is TA Associates’ 239th, Clearlake Capital’s 66th, Partners Group AG’s 26th, Insight Partners’ 63rd and OMERS Private Equity’s 23rd transaction in the United States.
  • This is TA Associates’ 24th, Clearlake Capital’s 5th, Partners Group AG’s 1st, Insight Partners’ 7th and OMERS Private Equity’s 2nd transaction in Massachusetts.

M&A Deal Summary
Date 2021-03-03
Target Precisely
Sector Software
Buyer(s) TA Associates
Clearlake Capital
Partners Group AG
Insight Partners
OMERS Private Equity
Sellers(s) Centerbridge Partners
Deal Type Secondary Buyout

Target

Precisely

Burlington, Massachusetts, United States
Precisely is a provider of data integrity software. The Company provides accuracy, consistency, and context in data for 12,000 customers in more than 100 countries. Precisely’s data integration, data quality, data governance, location intelligence, and data enrichment products power better business decisions to create better outcomes. Precisely is based in Burlington, Massachusetts.

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Buyer(S) 5

Buyer

TA Associates

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1968
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TA Associates is a private equity firm that targets investments in middle-market and large companies around the world. TA will consider control or minority investments in profitable companies and looks to commit between $70 and $500 million per transaction. TA proactively reaches out to companies directly in sourcing potential investment opportunities. Prospective businesses are generally valued between $100 million and $3 billion. Areas of interest include technology, software, communications, financial services, healthcare, business services, semiconductors/electronics, and consumer products/services. In addition to investing equity capital, TA also makes subordinated debt investments. TA's geographic preference is North America, Asia/Pacific, and Europe. TA Associates was formed in 1968 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 321 of 364
Sector (Software) 70 of 86
Type (Secondary Buyout) 54 of 69
State (Massachusetts) 24 of 25
Country (United States) 239 of 263
Year (2021) 8 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-02 Auction Technology Group

London, United Kingdom

Auction Technology Group is an online marketplace that provides online auction platforms in multiple verticals. ATG's platform powers live and timed auctions across multiple verticals including art and antiques, classic cars, industrial & commercial, and consumer retail returns. Auction Technology Group was incorporated in 1971 and is based in London, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-07 BetaShares

Sydney, Australia

BetaShares develops, launches, and manages ETFs that are traded on the Australian Securities Exchange (“ASX”). BetaShares offers a diverse range of ETFs, with funds covering Australian and international shares, fixed income, cash, currencies, commodities, and alternative strategies. BetaShares was formed in 2009 and is based in Sydney.

Buy -
Buyer

Clearlake Capital

Santa Monica, California, United States
Category Private Equity Firm
Founded 2006
PE ASSETS 72.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Clearlake Capital Group is a private equity firm that focuses on corporate divestitures, recapitalizations, buyouts, restructurings, rescue financing, growth capital, turnarounds, and other equity investments. Clearlake seeks to partner with strong management teams by providing long-term capital and operational expertise. Areas of interest include technology, industrials, and consumer. Clearlake Capital Group was formed in 2006 and is based in Santa Monica, California.

DEAL STATS #
Overall 69 of 88
Sector (Software) 15 of 19
Type (Secondary Buyout) 28 of 38
State (Massachusetts) 5 of 6
Country (United States) 66 of 83
Year (2021) 3 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-10 Constant Contact

Waltham, Massachusetts, United States

Constant Contact is a provider of online marketing tools to generate repeat business and referrals through email marketing, social media marketing, event marketing, local deals, and online surveys. Constant Contact was founded in 1995 and is based in Waltham, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-25 American Construction Source

Springfield, Missouri, United States

American Construction Source is an LBM distributor with 70+ locations in nine states serving the needs of custom home builders, repair & remodel contractors, and DIY consumers. ACS provides lumber and building materials businesses the resources, leverage, and focus to make their ideas happen. American Construction Source was founded in 2018 and is based in Springfield, Missouri.

Sell -
Buyer

Partners Group AG

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1996
Size Mega
Type Sector Agnostic
DESCRIPTION

Partners Group is a global investment management firm with a variety of funds and institutional clients. The Firm's direct investment group looks to invest in or acquire market leading companies with growth opportunities linked to technology. Partners is a hands-on investor and looks to actively support its portfolio companies with expansion, operational, and governance structure support. Partners Group was established in 1996 and is headquartered in Zug, Switzerland.

DEAL STATS #
Overall 72 of 88
Sector (Software) 5 of 6
Type (Secondary Buyout) 38 of 52
State (Massachusetts) 1 of 1
Country (United States) 26 of 33
Year (2021) 5 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-25 Parmaco Oy

Tampere, Finland

Parmaco designs build and leases fully assembled and ready-to-use high-quality wooden modular buildings that are used as schools and daycare centers in Finland and Sweden. Parmaco was founded in 1966 and is based in Tampere, Finland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-12 Fortum Oyj - District Heating Platform

Espoo, Finland

The District Heating Platform operates across Estonia, Latvia, and Lithuania has 74 generation assets, which generate a heat capacity of 881 MW and a power capacity of 130 MW across 387 kilometers of district heating networks. The District Heating Platform's fuel is largely derived from renewable or recycled sources, mainly biomass. Growing demand for district heating is being driven by several transformative trends in the region, including fast-growing economies and urbanizing populations, as well as rising support for sustainable energy initiatives.

Buy -
Buyer

Insight Partners

Investor Investor Investor Investor Investor

Category Venture Capital Firm
Founded 1995
PE ASSETS 80.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Insight Partners is a growth capital investment firm focused on early to later stage investments principally in the software sector. Insight Partners was formed in 1995 and is based in New York, New York.

DEAL STATS #
Overall 78 of 89
Sector (Software) 32 of 36
Type (Secondary Buyout) 17 of 22
State (Massachusetts) 7 of 7
Country (United States) 63 of 71
Year (2021) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-02 Thycotic

Washington, District of Columbia, United States

Thycotic is privileged access management, a critical layer of IT security that protects an organization's data, devices, and code across cloud, on-premise, and hybrid environments. Recognized as a leader by every major industry analyst group, its modern cloud-ready PAM solutions dramatically reduce the complexity and cost of securing privileged access. Thycotic was founded in 1996 and is based in Washington, District of Columbia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-13 CivicPlus

Manhattan, Kansas, United States

CivicPlus delivers technology solutions that enable local governments to optimize the experience they deliver when interacting with citizens. Over 4,000 local governments use its solutions when serving their 250 million citizens. The company delivers a Civic Experience Platform that enables local governments to drive more revenue, operate more efficiently, and generate positive recognition for the many services they provide every day. CivicPlus was founded in 2000 and is based in Manhattan, Kansas.

Buy -
Buyer

OMERS Private Equity

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 19.8B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

OMERS Private Equity, Inc. is the private equity arm of the Ontario Municipal Employees Retirement System. OMERS invests in buyout, venture, and mezzanine funds as well as makes direct private equity investments in North American companies with and enterprise value of $200 million to 1.5 billion. Target sectors include manufacturing, financial and business services, industrial and consumer products, transportation, and technology. OMERS Private Equity was formed in 1987 and is based in Toronto, Ontario.

DEAL STATS #
Overall 46 of 55
Sector (Software) 5 of 5
Type (Secondary Buyout) 26 of 33
State (Massachusetts) 2 of 2
Country (United States) 23 of 28
Year (2021) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-17 Turnpoint Services

Louisville, Kentucky, United States

Turnpoint Services provides a comprehensive range of plumbing, electrical, and HVAC installation and repair services. The Company currently operates in thirteen states throughout the Southeast and Midwest regions and is nationally recognized as a Top-10 plumbing and HVAC service business. Turnpoint Services was formed in 2016 and is based in Louisville, Kentucky.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-17 Environmental Resources Management

London, United Kingdom

Environmental Resources Management is a global provider of environmental, health, safety, risk, and social consulting services. Environmental Resources Management was founded in 1871 and is based in London, United Kingdom.

Sell -

Seller(S) 1

SELLER

Centerbridge Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 2005
PE ASSETS 38.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Centerbridge Partners is a mega-sized private equity firm focused primarily on distressed/special situations in North America and Europe. In addition to making control investments, Centerbridge also maintains funds for non-control credit investments. Centerbridge was formed in 2005 and is based in New York City.

DEAL STATS #
Overall 21 of 24
Sector (Software) 1 of 1
Type (Secondary Buyout) 9 of 9
State (Massachusetts) 2 of 2
Country (United States) 20 of 22
Year (2021) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-15 Mindpath Health

Sacramento, California, United States

Mindpath Health is a behavioral health practice management company supporting over 40 affiliated psychiatrists practicing in California’s Sacramento, San Joaquin, and Bay Areas. Mindpath Health was founded in 1995 and is based in Sacramento, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-01 Syncreon

Cloghran, Ireland

Syncreon is an asset-light global logistics company that facilitates the integration of customers’ supply chains and the final delivery of finished products to their end customers.

Sell $1.2B
Mergr

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