M&A Deal Summary

Thomas H. Lee Partners Acquires Auction.com

On January 2, 2017, private equity firm Thomas H. Lee Partners acquired internet software and services company Auction.com from Stone Point Capital and CapitalG

Acquisition Highlights
  • This is Thomas H. Lee Partners’ 2nd transaction in the Internet Software and Services sector.
  • This is Thomas H. Lee Partners’ 47th transaction in the United States.
  • This is Thomas H. Lee Partners’ 2nd transaction in California.

M&A Deal Summary

Date 2017-01-02
Target Auction.com
Sector Internet Software and Services
Buyer(s) Thomas H. Lee Partners
Sellers(s) Stone Point Capital
CapitalG
Deal Type Secondary Buyout

Target

Auction.com

Irvine, California, United States
Auction.com is a marketplace transaction platform focused on residential bank-owned and foreclosure properties for sale in the United States. Auction.com's online platform allows individuals and investors to buy and sell residential real estate properties using both desktop and mobile channels. By leveraging its market-leading technology platform and extensive international network of buyers, Auction.com empowers consumers, investors and real estate professionals with unprecedented levels of flexibility, control and simplicity to easily complete real estate transactions online. Auction.com was founded in 2007 and is based in Irvine, California.

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Buyer(S) 1

Buyer

Thomas H. Lee Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1974
PE ASSETS 35.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thomas H. Lee Partners (THL) is a private equity firm that seeks buyout, expansion, consolidation, distressed, and recapitalization investments across various industries. Sectors of interest include business and information services, consumer products/retail, financial services, healthcare, industrial, and media/communications. THL looks to invest $100 to $400 million in companies valued up to $2.5 billion. THL was formed in 1974 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 57 of 90
Sector (Internet Software and Services) 2 of 5
Type (Secondary Buyout) 18 of 32
State (California) 2 of 7
Country (United States) 47 of 77
Year (2017) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-19 Professional Physical Therapy

Melville, New York, United States

Professional Physical Therapy is a provider of physical therapy and rehabilitation services in the New York metropolitan area. The Company’s outpatient physical therapy centers provide treatment to patients suffering from musculoskeletal impairments associated with accidents, sports injuries, surgeries, and various other medical conditions. Professional Physical Therapy was founded in 1998 and is based in Melville, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-25 Art Van Furniture

Ann Arbor, Michigan, United States

Art Van Furniture is a furniture retailer. The company operates 100 stores throughout michigan, illinois, ohio, and indiana, including freestanding Art Van pureSleep mattress stores, Art Van flooring stores, and Art Van Furniture franchise locations as well as a full service e-commerce website. Art Van Furniture was founded in 1959 and is based in Ann Arbor, Michigan.

Buy -

Seller(S) 2

SELLER

Stone Point Capital

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 25.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Stone Point Capital is a private equity firm that targets investments in financial services sector. Specific areas of interest include insurance underwriting, outsourcing service providers to financial institutions, specialty lending and other credit opportunities, employee benefits and healthcare, asset management/retirement savings, and banking/depository institutions. Stone Point looks to commit between $5 and $500 million of equity per transaction and will consider control or substantial minority positions. Geographic areas of interest include North America and Europe. Stone Point Capital was formed in 1994 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 25 of 55
Sector (Internet Software and Services) 1 of 5
Type (Secondary Buyout) 8 of 15
State (California) 2 of 8
Country (United States) 20 of 49
Year (2017) 1 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-21 Carlile Bancshares

Forth Worth, Texas, United States

Carlile Bancshares, Inc. is a provider of buying small to regional banks that are looking for shareholder alternatives. Carlile Bancshares, Inc. was established in 2009 and is headquartered in Forth Worth, Texas.

Sell $434M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-15 StoneRiver

Oakland, California, United States

StoneRiver is a provider of innovative insurance technology, professional services, and outsourcing solutions to the insurance industry. The company's services include business process outsourcing, insurance policy and claims administration, underwriting, rating, advanced billing and collections, point-of-sale technology and straight-through processing solutions. StoneRiver is based in Oakland, California.

Sell $102M
SELLER

CapitalG

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Corporate Investor
Founded 2013
PE ASSETS 3.0B USD
Size Large
Type Sector Focused
DESCRIPTION

CapitalG is the growth equity and direct investment arm of Alphabet, Inc. CapitalG invests in emerging tech-enabled service companies and assists with providing tactical advice across key functional areas such as engineering, product, sales, and marketing. CapitalG was formerly known as Google Capital. The Unit was formed in 2013 and is based in San Francisco, California.


DEAL STATS #
Overall 2 of 16
Sector (Internet Software and Services) 2 of 9
Type (Secondary Buyout) 1 of 4
State (California) 1 of 8
Country (United States) 1 of 15
Year (2017) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-25 Stripe

South San Francisco, California, United States

Stripe is a web and mobile payment platform that allows individuals and businesses to accept online payments. Stripe handles billions of dollars every year for forward-thinking businesses around the world. Stripe was founded in 2010 and is based in San Francisco, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-24 Cuemath

Bengaluru, India

Cuemath is an after-school math excellence program for children between the KG and Standard 8 levels develop in-house content which is a combination of worksheets, tab-based exercises, and mathematical puzzle cards offered to students through home-based centers. Cuemath was founded in 2013 and is based in Bengaluru, India.

Buy -