M&A Deal Summary

The Blackstone Group and Neuberger Berman Insurance-Linked Strategies Acquire Sphera

On July 6, 2021, private equity firm The Blackstone Group and Neuberger Berman Insurance-Linked Strategies acquired information technology company Sphera from Genstar Capital for 1.4B USD

Acquisition Highlights
  • This is The Blackstone Group’s 19th and Neuberger Berman Insurance-Linked Strategies’ 1st transaction in the Information Technology sector.
  • This is The Blackstone Group’s 83rd and Neuberger Berman Insurance-Linked Strategies’ largest (disclosed) transaction.
  • This is The Blackstone Group’s 183rd and Neuberger Berman Insurance-Linked Strategies’ 1st transaction in the United States.
  • This is The Blackstone Group’s 9th and Neuberger Berman Insurance-Linked Strategies’ 1st transaction in Illinois.

M&A Deal Summary

Date 2021-07-06
Target Sphera
Sector Information Technology
Buyer(s) The Blackstone Group
Neuberger Berman Insurance-Linked Strategies
Sellers(s) Genstar Capital
Deal Type Secondary Buyout
Deal Value 1.4B USD
Advisor(s) Vedder Price (Legal)

Target

Sphera

Chicago, Illinois, United States
Sphera is a global provider of Operational Excellence software and information services with a focus on Operational Risk, Environmental Health & Safety (EH&S), and Product Stewardship. Sphera is based in Chicago, Illinois.

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Buyer(S) 2

Buyer

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 394.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York, New York.


DEAL STATS #
Overall 292 of 362
Sector: Information Technology M&A 19 of 25
Type: Secondary Buyout M&A Deals 61 of 90
State: Illinois M&A 9 of 12
Country: United States M&A 183 of 230
Year: 2021 M&A 16 of 27
Size (of disclosed) 83 of 183
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-01 CCG

Sarasota, Florida, United States

CCG is a global provider of expert, impartial and tech-enabled services that add value and liquidity to collectibles. CCG was founded in 1987 and is based in Sarasota, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-19 Simplilearn

Bengaluru, India

Simplilearn is an online learning ‘bootcamp’ based in India offering digital skills training and courses to working professionals all over the world. Simplilearn was founded in 2010 and is based in Bengaluru, Karnataka.

Buy -
Buyer

Neuberger Berman Insurance-Linked Strategies

New York City, New York, United States

Category Company
Founded 2009
Sector Insurance
DESCRIPTION

Neuberger Berman Insurance-Linked Strategies is a provider of risk-adjusted returns using a dynamic and active risk management approach. Neuberger Berman Insurance-Linked Strategies was founded in 2009 and is based in New York City, New York.


DEAL STATS #
Overall 1 of 2
Sector: Information Technology M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
State: Illinois M&A 1 of 2
Country: United States M&A 1 of 2
Year: 2021 M&A 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-07 ENTRUST Solutions

Warrenville, Illinois, United States

ENTRUST Solutions is an outsourced provider of comprehensive design, engineering, and consulting services to utilities in the U.S. ENTRUST Solutions offers customers a full spectrum of services with expertise in gas and electric distribution, pipeline infrastructure, automation systems, and integrity management solutions. ENTRUST Solutions is based in Warrenville, Illinois.

Buy -

Seller(S) 1

SELLER

Genstar Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 50.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Genstar Capital is a private equity firm that seeks investments in life science, healthcare, medical products, industrial technology, software, financial services, packaging, building materials, manufacturing, and business services companies. Genstar looks to invest between $50 and $400 million of equity capital in businesses valued up to $1 billion. Target transaction situations include control-oriented leveraged buyouts of corporate divisions, privately held businesses or public companies, minority investments in privately held businesses or public companies, ownership restructurings/recapitalizations of privately held businesses, growth equity financings, partnerships with other strategic or financial buyers, and take privates. Genstar Capital was formed in 1988 and is based in San Francisco, California.


DEAL STATS #
Overall 56 of 61
Sector: Information Technology M&A 3 of 4
Type: Secondary Buyout M&A Deals 21 of 24
State: Illinois M&A 3 of 3
Country: United States M&A 50 of 55
Year: 2021 M&A 6 of 7
Size (of disclosed) 3 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-30 2020

Laval, Quebec, Canada

2020 is a provider of computer-aided design, business and manufacturing software tailored for the interior design and furniture industries. The company has developed an unmatched depth of knowledge of interior design and space planning to maintain an unbroken history of the market and thought leadership. Its customers include many of the world’s largest home improvement retailers and manufacturers, as well as tens of thousands of local, independent kitchen and bathroom dealers. 2020 was founded in 1987 and is based in Laval, Quebec.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-07 Foreside

Portland, Michigan, United States

Foreside is a provider of regulatory compliance and distribution solutions to clients in the investment management industry. The Company delivers outsourced services to investment advisers and broker-dealers, including the financial products they manage or distribute. Foreside was formed in 20005 and is based in Portland, Michigan.

Buy -