M&A Deal Summary

TowerBrook Capital Partners Acquires CBTS

On February 6, 2024, private equity firm TowerBrook Capital Partners acquired information technology company CBTS from Cincinnati Bell

Acquisition Highlights
  • This is TowerBrook Capital Partners’ 4th transaction in the Information Technology sector.
  • This is TowerBrook Capital Partners’ 43rd transaction in the United States.
  • This is TowerBrook Capital Partners’ 2nd transaction in Ohio.

M&A Deal Summary
Date 2024-02-06
Target CBTS
Sector Information Technology
Buyer(s) TowerBrook Capital Partners
Sellers(s) Cincinnati Bell
Deal Type Divestiture

Target

CBTS

Cincinnati, Ohio, United States
CBTS is a provider of IT services and solutions focused on enterprise and upper-middle-market customers. Combining deep technical expertise with a full suite of flexible technology solutions, CBTS serves over 3,000 customers in all industries across the United States and Canada. CBTS was founded in 1994 and is based in Cincinnati, Ohio.

Search 201,292 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

TowerBrook Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2001
PE ASSETS 17.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TowerBrook Capital Partners is a private equity firm focused on leveraged buyouts, leveraged build-ups and distressed situation investments throughout North America and Europe. TowerBrook prefers control-oriented investments and actively pursues complex situations that other firms may avoid. Target sectors include consumer services, distribution, beverages, pharmaceuticals, media, technology, communications, software, and healthcare. TowerBrook Capital Partners was established in 2001 and is headquartered in New York City.

DEAL STATS #
Overall 94 of 99
Sector (Information Technology) 4 of 4
Type (Divestiture) 5 of 5
State (Ohio) 2 of 2
Country (United States) 43 of 44
Year (2024) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-11 Gravity Media

Watford, United Kingdom

Gravity Media is a provider of broadcasting equipment and solutions. Gravity Media delivers outside broadcast, project solutions, broadcasting equipment rental, equipment sales and systems integration to broadcasters, production companies, and content rights holders across the world. Gravity Media was established in 2000 and is based in Watford, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-17 LiftWerx

Cambridge, Ontario, Canada

LiftWerx is an independent service provider of turnkey, mission-critical operations and maintenance (O&M) services to the onshore wind industry specializing in the replacement of major components of wind turbines, such as gearboxes, main bearings, and generators. LiftWerx was founded in 2016 and is based in Cambridge, Ontario.

Buy -

Seller(S) 1

SELLER

Cincinnati Bell

Cincinnati, Ohio, United States
Category Company
Founded 1873
Sector Communications
Employees4,300
Revenue 1.5B USD (2019)
DESCRIPTION
Cincinnati Bell's corporate headquarters in Cincinnati, Ohio.
Cincinnati Bell's corporate headquarters in Cincinnati, Ohio.

Cincinnati Bell, Inc. is a provider of integrated communications solutions, including local and long-distance voice, data, high-speed Internet and entertainment services. Cincinnati Bell serves customers in Greater Cincinnati and Dayton. Cincinnati Bell was founded in 1873 and is based in Cincinnati, Ohio.

DEAL STATS #
Overall 4 of 4
Sector (Information Technology) 2 of 2
Type (Divestiture) 3 of 3
State (Ohio) 3 of 3
Country (United States) 4 of 4
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-09 Bridgewired - Broadband Infrastructure Assets

Waynesville, Ohio, United States

Bridgewired's Broadband Infrastructure Assets provides fiber optic network services.

Buy -
Mergr

Product

Company

Legal