M&A Deal Summary

Vista Equity Partners Acquires SirsiDynix

On December 27, 2006, private equity firm Vista Equity Partners acquired software company SirsiDynix from Seaport Capital, HM Capital Partners and 21st Century Group

Acquisition Highlights
  • This is Vista Equity Partners’ 3rd transaction in the Software sector.
  • This is Vista Equity Partners’ 10th transaction in the United States.
  • This is Vista Equity Partners’ 1st transaction in Utah.
Investment Fate
  • SirsiDynix was sold to a consortium of financial buyers in 2015.

M&A Deal Summary

Date 2006-12-27
Target SirsiDynix
Sector Software
Buyer(s) Vista Equity Partners
Sellers(s) Seaport Capital
HM Capital Partners
21st Century Group
Deal Type Secondary Buyout

Target

SirsiDynix

Lehi, Utah, United States
SirsiDynix is a provider of integrated library systems (ILS) software, which is specialized enterprise resource planning software for libraries used to automate and optimize the entire operation of a library as well as enhance a library’s ability to serve its users and community. SirsiDynix was founded in 1979 and is based in Lehi, Utah.

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Buyer(S) 1

Buyer

Vista Equity Partners

Austin, Texas, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 100.0B USD
Size Mega
Type Sector Focused
DESCRIPTION
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.

Vista Equity Partners is a mega-sized asset management firm focused on private equity, public equity, credit, and other strategies. The Firm's private equity group looks to invest in and acquire software and technology enabled services companies. Specific areas of interest include software, software-as-a-service (SaaS), technology-enabled business services, and technology-enabled information services. Vista can commit up to $700 million per transaction and will consider a variety transaction situations, including management/leveraged buyouts, growth or acquisition financings, recapitalizations or restructurings, spinouts, and take privates. Vista Equity Partners was formed in 2000 and is based in Austin, Texas.


DEAL STATS #
Overall 13 of 149
Sector: Software M&A 3 of 60
Type: Secondary Buyout M&A Deals 3 of 36
State: Utah M&A 1 of 2
Country: United States M&A 10 of 138
Year: 2006 M&A 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-10-01 The Reynolds and Reynolds

Kettering, Ohio, United States

The Reynolds and Reynolds Company delivers software solutions and services that support every aspect of automotive retailing. Serving dealers since 1927, it is a leading provider of dealer management systems and associated products and services. Reynolds & Reynolds enables automobile dealers to sell more cars and to improve customer service.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-01 Sunquest Information Systems

Tucson, Arizona, United States

Sunquest Information Systems, Inc. is a provider of clinical and financial software solutions for the healthcare industry. The company designs, develops, and supports a comprehensive suite of information products for hospitals and commercial laboratories that include best-of-breed laboratory, radiology, and pharmacy software systems.

Buy $381M

Seller(S) 3

SELLER

Seaport Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
Size Middle-Market
Type Sector Focused
DESCRIPTION

Seaport Capital is a private equity firm that targets equity and mezzanine investments in private middle-market companies. Funds are generally used to support late-stage growth opportunities, as well as buyouts and recapitalizations. Seaport prefers businesses with high margins and recurring revenues. Sectors of interest include marketing services, publishing, media, communications, business services, education, software, cable, and information services. Seaport seeks private companies valued between $25 and $150 million and looks to commit up to $40 million of equity per transaction. Seaport requires board representation and typically holds investments for three to seven years. Seaport Capital was formed in 1997 and is based in New York City.


DEAL STATS #
Overall 7 of 31
Sector: Software M&A 2 of 4
Type: Secondary Buyout M&A Deals 1 of 5
State: Utah M&A 1 of 1
Country: United States M&A 7 of 29
Year: 2006 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-06-01 Everest Broadband

Kansas City, Missouri, United States

Everest is a cable company that offers cable television, telephony and high-speed Internet services in suburban Kansas City.Everest services are presently available in Lenexa, Shawnee, Overland Park and the Brookside, Waldo and Red Bridge areas of South Kansas City. Everest Business Solutions also provides customized business solutions for the entire Kansas City metro area.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-14 Switch & Data Facilities

Tampa, Florida, United States

Switch & Data Facilities Co. is a provider of data centers that house, power and interconnect the Internet with sites in the US and Canada. Switch & Data Facilities Co. is based in Tampa, Florida.

Sell -
SELLER

HM Capital Partners

Dallas, Texas, United States

Category Private Equity Firm
Founded 1989
PE ASSETS 1.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

HM Capital (formerly Hicks, Muse, Tate & Furst, Inc.) is a private equity firm that seeks investments in middle-market companies valued between $100 million and $1 billion. HM Capital's investments include acquisitions of large corporate divestitures, acquisitions or recapitalizations of privately owned or publicly traded businesses, and acquisitions of distressed businesses either through a restructuring or bankruptcy process. Sectors of interest include media, consumer products, energy, financial services, food/beverage, information services and niche manufacturing. HM Capital Partners was formed in 1989 and is based in Dallas, Texas.


DEAL STATS #
Overall 2 of 15
Sector: Software M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 5
State: Utah M&A 1 of 1
Country: United States M&A 1 of 10
Year: 2006 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-03-01 Aster Sp. z o.o.

Warsaw, Poland

Aster City Cable is a leading provider of cable television internet and fixed line telephone services in Poland.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-04 Persona Communications

St. John’s, Alberta, Canada

Persona (formerly Regional Cablesystems Inc.) is Canada's premier provider of digital TV, hi-speed Internet and telecom services to residential and commercial customers in non-urban communities throughout British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Québec and Newfoundland & Labrador.

Sell -
SELLER

21st Century Group

Dallas, Texas, United States

Category Private Equity Firm
Founded 1998
PE ASSETS 166M USD
Size Small
Type Sector Agnostic
DESCRIPTION

21st Century Group is a private equity firm that targets lower middle-market company investments. The Firm looks for businesses generating annual sales of $15 to $150 million and valued between $15 and $100 million. Sectors of interest include manufacturing, value-added distribution, services, and media. Prospective transactions include divisions or subsidiaries of public or private companies, private companies seeking liquidity, family owned companies seeking intergeneration transfer of wealth, and take privates. 21st Century was formed in 1998 and is based in Dallas, Texas.


DEAL STATS #
Overall 2 of 9
Sector: Software M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 2
State: Utah M&A 1 of 1
Country: United States M&A 2 of 9
Year: 2006 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-01 Republic Companies

Dallas, Texas, United States

Republic Companies, Inc. is an insurance company providing personal and commercial property and casualty insurance products to individuals and small to medium business primarily in Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-03-25 Innovative Creative Packaging Solutions

South Plainfield, New Jersey, United States

Innovative Folding Carton Company, Inc.is a manufacturer of folded carton packaging. Innovative has full service capabilities that range from carton design to the application of special coatings and glues to die-cutting and pre folding cartons.

Sell -