M&A Deal Summary

TH Lee Putnam Ventures and Five Elms Capital Acquire Straive

On June 10, 2004, growth capital firms TH Lee Putnam Ventures and Five Elms Capital acquired information technology company Straive for 90M USD

Acquisition Highlights
  • This is TH Lee Putnam Ventures’ 1st and Five Elms Capital’s 1st transaction in the Information Technology sector.
  • This is TH Lee Putnam Ventures’ and Five Elms Capital’s largest (disclosed) transaction.
  • This is TH Lee Putnam Ventures’ 1st and Five Elms Capital’s 1st transaction in Philippines.
Investment Fate
  • Straive was sold to a publicly-traded strategic buyer in 2006 for 159M USD.
  • Straive was divested to a consortium of buyers in 2013.
  • Straive was sold to a consortium of financial buyers in 2017 for 330M USD.
  • Straive was sold to a consortium of financial buyers in 2021.

M&A Deal Summary

Date 2004-06-10
Target Straive
Sector Information Technology
Buyer(s) TH Lee Putnam Ventures
Five Elms Capital
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 90M USD

Target

Straive

Parañaque City, Philippines
Straive provides a comprehensive set of specialized services and technology solutions related to the creation, enrichment, and transformation of the published content. These services span a publisher's entire value chain, from author support and content development, through copy editing and typesetting, to digitalization, database management, and data analytics. The company serves its clients in 14 languages through 12 delivery operations globally and employs more than 12,500 people. Straive was formed in 1980 and is based in Parañaque City, Philippines.

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Buyer(S) 2

Buyer

TH Lee Putnam Ventures

New York, New York, United States

Category Growth Capital Firm
Founded 1999
PE ASSETS 1.1B USD
Size Large
Type Sector Focused
DESCRIPTION

TH Lee Putnam Ventures (THLPV) is a technology-focused private equity firm affiliated with Thomas H. Lee Partners and Putnam Investments. THLPV's primary focus is on later-stage venture investments, but the firm will also consider public entities, middle market buyouts, recapitalizations and spinouts of corporate divisions. A typical investment is between $20 and $50 million. TH Lee Putnam Ventures was formed in 1999 and is based in New York City.


DEAL STATS #
Overall 8 of 10
Sector (Information Technology) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 3 of 3
Country (Philippines) 1 of 1
Year (2004) 3 of 3
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-25 Liquidnet

New York City, New York, United States

Liquidnet is an electronic platform that allows money management firms to execute block trades directly and anonymously across international markets. Liquidnet was founded in 1999 and is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-05 The Retirement Plan Company

Brentwood, Tennessee, United States

The Retirement Plan Company, LLC (TRPC) delivers retirement plan services to Plan Sponsors, Plan Participants, Financial Advisors and Third Party Administrators. Our commitment to technology allows us to craft creative retirement plan solutions for our varied client base

Buy -
Buyer

Five Elms Capital

Kansas City, Missouri, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2006
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Five Elms Capital is a private investment firm focused on investing $5 to $75 million in bootstrapped business services companies with $2 to $20 million in rev enue. The Firm will consider providing growth capital or to support shareholder liquidity needs. Five Elms Capital was formed in 2006 and is based in Kansas City, Missouri.


DEAL STATS #
Overall 2 of 31
Sector (Information Technology) 1 of 2
Type (Buyout (LBO, MBO, MBI)) 1 of 1
Country (Philippines) 1 of 1
Year (2004) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-09-29 Symphony Services

Palo Alto, California, United States

Symphony Services helps clients achieve higher innovation yields, compress time to market and improve productivity to increase the value from their R&D investments. From strategic and operational consulting guidance to complete product lifecycle capabilities, our singular focus on product development means we are engineered for your success.

Buy $20M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-01 Straive

Parañaque City, Philippines

Straive provides a comprehensive set of specialized services and technology solutions related to the creation, enrichment, and transformation of the published content. These services span a publisher's entire value chain, from author support and content development, through copy editing and typesetting, to digitalization, database management, and data analytics. The company serves its clients in 14 languages through 12 delivery operations globally and employs more than 12,500 people. Straive was formed in 1980 and is based in Parañaque City, Philippines.

Sell $159M