M&A Deal Summary

Temasek Holdings and Warburg Pincus Acquire GHX

On May 13, 2017, sovereign wealth fund Temasek Holdings and private equity firm Warburg Pincus acquired information technology company GHX from Thoma Bravo

Acquisition Highlights
  • This is Temasek Holdings’ 3rd and Warburg Pincus’ 19th transaction in the Information Technology sector.
  • This is Temasek Holdings’ 8th and Warburg Pincus’ 173rd transaction in the United States.
  • This is Temasek Holdings’ 1st and Warburg Pincus’ 8th transaction in Colorado.

M&A Deal Summary

Date 2017-05-13
Target GHX
Sector Information Technology
Buyer(s) Temasek Holdings
Warburg Pincus
Sellers(s) Thoma Bravo
Deal Type Secondary Buyout

Target

GHX

Louisville, Colorado, United States
GHX is a provider of cloud-based supply chain management technology and services in order to help enable better patient care and savings by maximizing automation, efficiency, and accuracy of business processes. GHX offers healthcare providers and suppliers an open and neutral electronic trading exchange that delivers procurement and accounts payable automation, contract and inventory management, vendor credentialing and management, business intelligence, and other supply chain-related tools and services. GHX was formed in 2000 and is based in Louisville, Colorado.

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Buyer(S) 2

Buyer

Temasek Holdings

Investor Investor Investor Investor Investor


Category Sovereign Wealth Fund
Founded 1974
PE ASSETS 496.6B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Temasek Holdings is a state-owned investment holding company. Temasek is owned by the government of Singapore and invests directly and indirectly in a broad range of assets and sectors. Target sectors include financial services, telecommunications, media, technology, transportation, industrials, life science, consumer, real estate, energy, and resources. Temasek was formed in 1974 and is based in Singapore.


DEAL STATS #
Overall 15 of 33
Sector (Information Technology) 3 of 6
Type (Secondary Buyout) 2 of 5
State (Colorado) 1 of 1
Country (United States) 8 of 13
Year (2017) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-01 Genuity Science

Boston, Massachusetts, United States

Genuity Science is a life science technology company that provides world-leading genomics and multi-omic analytics bolstered by an advanced artificial intelligence (AI) and machine learning (ML) platform to illuminate the underlying cause of cancer and other diseases. Genuity Science is based in Boston, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-11 Viu

Hong Kong, China

Viu is a pan-regional over-the-top (OTT) video streaming service. It‘s available in 16 markets including: Hong Kong, Singapore, Malaysia, Indonesia, the Philippines, Thailand and Myanmar in Asia; Bahrain, Egypt, Jordan, Kuwait, Oman, Qatar, Saudi Arabia and the UAE in the Middle East; as well as South Africa. Viu was founded in 2015 and is based in Hong Kong, China.

Buy -
Buyer

Warburg Pincus

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1966
PE ASSETS 83.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Warburg Pincus is a mega-sized, global private equity firm focused on investment opportunities across North America, Asia, and Europe. Warburg will consider investing at various company stages, from early-stage opportunities to distressed situations. Warburg Pincus is organized by industry groups. Verticals include financial services, healthcare, technology, media & telecommunications, energy, consumer & industrial, and real estate. Within financial services, Warburg will consider asset/wealth managers, banks, exchanges, financial technology, insurance, transaction processing, private banking, and specialty/consumer finance. Within healthcare, specific areas of interest include medical devices, healthcare services, and biotech/pharmaceuticals. Within technology/media/communications, Warburg targets software, media/internet/information, financial technology, telecom, business services, and systems/semiconductors. Within energy, specific areas of interest include oil/gas exploration, power generation/transmission, and alternative energy. Warburg Pincus raised its first fund in 1966 and is based in New York City.


DEAL STATS #
Overall 335 of 482
Sector (Information Technology) 19 of 43
Type (Secondary Buyout) 42 of 63
State (Colorado) 8 of 9
Country (United States) 173 of 237
Year (2017) 12 of 28
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-18 CityMD

New York, New York, United States

CityMD is an urgent care provider founded by a passionate group of emergency medicine physicians, CityMD's mission is to serve its communities by providing quality medical care through convenient access and an exceptional experience. The company's unwavering commitment to treating everyone with respect and genuine kindness while offering exceptional services and a cost-effective alternative to the ER. CityMD was founded in 2010 and is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-18 Safetykleen

Brentford, United Kingdom

Safetykleen engages in surface treatment and chemical application services providing industrial component, part, and tool cleaning equipment, tailored chemicals, with regularly scheduled services and spent chemical collections. It provides customer-efficient outsourcing solutions to address a wide range of critical manufacturing and maintenance, repair, and overhaul processes across the metalworking, transportation, and manufacturing sectors. Safetykleen was formed in 1973 and is based in Brentford, United Kingdom.

Sell -

Seller(S) 1

SELLER

Thoma Bravo

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1980
PE ASSETS 127.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thoma Bravo is a private equity firm that primarily invests in or acquires US-based middle-market businesses. While Thoma Bravo will consider a variety of transaction situations, including take-privates, buyouts, carve-outs, recapitalizations, and growth equity financings, the Firm has a special interest in tech consolidation opportunities. Target companies generally have a history of profitability with EBITDA of at least $20 million. The Firm's equity commitment size range is $100 to $750 million. Sectors of interest include enterprise and infrastructure software, education, distribution, financial services and consumer goods/services. The Firm will not invest in new inventions or technologies, developmental products or services, start-ups, biotech, motion pictures, distressed businesses, oil/gas, or real estate. Thoma Bravo was formerly known as Thoma Cressey Bravo and before that Golder Thoma & Co. The Firm was originally formed in 1980 and is based in Chicago, Illinois.


DEAL STATS #
Overall 33 of 79
Sector (Information Technology) 7 of 20
Type (Secondary Buyout) 10 of 23
State (Colorado) 1 of 1
Country (United States) 32 of 73
Year (2017) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-03 Kofax

Irvine, California, United States

Kofax provides an intelligent automation software platform and solutions to enable organizations to digitally transform content-intensive workflows. The company supports customers in realizing faster time-to-value and increased competitiveness, growth, and profitability by combining Kofax’s cognitive capture, robotic process automation, process orchestration, analytics, and mobile capabilities while helping increase business resiliency and mitigating compliance risk. Kofax was formed in 1985 and is headquartered in Irvine, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-07 Riskonnect

Kennesaw, Georgia, United States

Riskonnect is a provider of integrated risk management software. The Company develops and markets a suite of software solutions on a cloud computing model, helping clients elevate their risk management programs, safety solutions, and programs for the management of risks across the enterprise. It provides the risk management industry with the configurable solutions needed to reduce losses, control risk, and affect shareholder value. Riskonnect was founded in 2007 and is based in Kennesaw, Georgia.

Buy -