M&A Deal Summary

TPG and Serent Capital Acquire People2.0

On February 2, 2021, private equity firm TPG and growth capital firm Serent Capital acquired staffing company People2.0 from CIP Capital

Acquisition Highlights
  • This is TPG’s 4th and Serent Capital’s 3rd transaction in the Staffing sector.
  • This is TPG’s 247th and Serent Capital’s 47th transaction in the United States.
  • This is TPG’s 9th and Serent Capital’s 1st transaction in Pennsylvania.

M&A Deal Summary

Date 2021-02-02
Target People2.0
Sector Staffing
Buyer(s) TPG
Serent Capital
Sellers(s) CIP Capital
Deal Type Secondary Buyout

Target

People2.0

King of Prussia, Pennsylvania, United States
People2.0 is a tech-enabled workforce deployment platform that provides employer of record/agent of record services and associated back-office support to staffing & recruiting firms, managed service providers, online recruitment platforms, recruitment process outsourcing, compliance service companies, and other talent acquisition service providers. People2.0 was founded in 2001 and is based in King of Prussia, Pennsylvania.

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Buyer(S) 2

Buyer

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 296.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.


DEAL STATS #
Overall 385 of 451
Sector: Staffing M&A 4 of 4
Type: Secondary Buyout M&A Deals 60 of 75
State: Pennsylvania M&A 9 of 12
Country: United States M&A 247 of 298
Year: 2021 M&A 4 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-28 Delinea

San Francisco, California, United States

Delinea is a provider of Privileged Access Management (PAM) solutions for the modern, hybrid enterprise. The Delinea Platform seamlessly extends PAM by providing authorization for all identities, granting access to an organization's most critical hybrid cloud infrastructure and sensitive data to help reduce risk, ensure compliance, and simplify security. Delinea was formed in 2004 and is based in San Francisco, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-16 4th Industrial

United Kingdom

4th Industrial is a commercial real estate company that invests in multi let and light industrial property in identified target markets across the UK.

Buy -
Buyer

Serent Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2008
PE ASSETS 5.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Serent Capital is a private equity firm focused on investing in profitable, growing businesses featuring scalable business models and operating in sectors undergoing significant change. Serent looks for companies with $5 to $100 million in growing annual sales where it can commit $20 to $200 million of capital. Target transaction situations include buyouts, recapitalizations, and growth financings. Serent Capital was formed in 2008 and is based in San Francisco, California.


DEAL STATS #
Overall 50 of 77
Sector: Staffing M&A 3 of 3
Type: Secondary Buyout M&A Deals 2 of 3
State: Pennsylvania M&A 1 of 1
Country: United States M&A 47 of 73
Year: 2021 M&A 3 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-11 Book4Time

Markham, Ontario, Canada

Book4Time is a provider of cloud-based business management solution for the global hospitality, spa, and wellness industry. Book4Time was founded in 2004 and is based in Markham, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-04 Cotality

Irvine, California, United States

Cotality is a provider of property, mortgage and consumer information, analytics, technology and services to businesses. Cotality was founded in 1894 and is based in Irvine, California.

Buy $6.0B

Seller(S) 1

SELLER

CIP Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2010
Size Middle-Market
Type Sector Focused
DESCRIPTION

CIP Capital is a private equity firm focused on control investments in middle-market, North American business information and outsourced service companies. Specific areas of interest include B2B information management, business process outsourcing, marketing services and knowledge services. CIP looks to invest $25 to $125 million in transactions valued up to $200 million. Funds are typically used to fund buyouts or growth initiatives. CIP Capital was formed in 2010 and is based in New York City.


DEAL STATS #
Overall 8 of 13
Sector: Staffing M&A 1 of 2
Type: Secondary Buyout M&A Deals 4 of 6
State: Pennsylvania M&A 2 of 2
Country: United States M&A 8 of 13
Year: 2021 M&A 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-22 Carnegie Learning

Pittsburgh, Pennsylvania, United States

Carnegie Learning is a comprehensive, dynamic, and progressive learning technology company. Carnegie Learning delivers powerful math, English language arts and world language software, blended learning solutions and professional learning services to over 1,500 school districts in all 50 states. Carnegie Learning was formed in 1997 and is based in Pittsburgh, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-19 WilsonHCG

Tampa, Florida, United States

WilsonHCG is a provider of talent management solutions. WilsonHCG offers recruitment process outsourcing and outsourced talent solutions to assist corporations with a broad range of talent acquisition needs. WilsonHCG was founded in 2002 and is based in Tampa, Florida.

Sell -