M&A Deal Summary

Vitruvian Partners and Clairvest Group Acquire Meriplex

On July 18, 2022, private equity firms Vitruvian Partners and Clairvest Group acquired information technology company Meriplex from Clairvest Group

Acquisition Highlights
  • This is Vitruvian Partners’ 8th and Clairvest Group’s 4th transaction in the Information Technology sector.
  • This is Vitruvian Partners’ 9th and Clairvest Group’s 23rd transaction in the United States.
  • This is Vitruvian Partners’ 1st and Clairvest Group’s 4th transaction in Texas.

M&A Deal Summary

Date 2022-07-18
Target Meriplex
Sector Information Technology
Buyer(s) Vitruvian Partners
Clairvest Group
Sellers(s) Clairvest Group
Deal Type Recapitalization
Advisor(s) Q Advisors LLC (Financial)
Torys (Legal)

Target

Meriplex

Houston, Texas, United States
Meriplex is a managed solutions provider specializing in delivering intelligent network solutions, cloud enablement and managed services for the mid-enterprise market. Meriplex is based in Houston, Texas.

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Buyer(S) 2

Buyer

Vitruvian Partners

London, United Kingdom

Category Private Equity Firm
Founded 2006
PE ASSETS 8.5B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Vitruvian Partners is an independent private equity firm that specializes in middle-market buyouts, growth buyouts and growth capital investments in the UK and elsewhere in Northern Europe. Vitruvian looks for companies that are 'operating in dynamic situations, where there is an opportunity to build strategic value'. The Group's target investment size is £25 to £150 million in transactions valued up to £500 million. Sectors of interest include business services, consumer services, financial services, life science, healthcare services, media, technology, communications, and internet software. Vitruvian Partners was formed in 2006 and is based in London.


DEAL STATS #
Overall 61 of 67
Sector (Information Technology) 8 of 9
Type (Recapitalization) 1 of 1
State (Texas) 1 of 1
Country (United States) 9 of 11
Year (2022) 8 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-13 Outpost24

Karlskrona, Sweden

Outpost24 is a vulnerability management company providing solutions to help users identify and mitigate weaknesses in their network. Outpost24 offers real-time vulnerability alerts and solution-based reports that facilitate the instant recognition of imminent threats. Outpost24 was founded in 2001 and is based in Karlskrona, Sweden.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-22 Twinkl

Sheffield, United Kingdom

Twinkl provides over 1 million high-quality online learning materials, supporting educators in over 200 countries. From eBooks to art projects, 3D scientific models to interactive games, unit assessments to gross motor activities, Twinkl has every resource educators need to shine. Twinkl was founded in 2010 and is based in Sheffield, United Kingdom.

Buy -
Buyer

Clairvest Group

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 4.5B CAD
Size Large
Type Sector Agnostic
DESCRIPTION

Clairvest Group is a generalist Canadian private equity firm focused on mid-market businesses with C$10 to C$50 million of EBITDA. While Clairvest does not have any sector preferences, the Firm prefers fragmented sectors with recurring revenue business models and economies of scale. Clairvest will consider both minority and majority investment positions and invests in the range of C$25- C$100 million per transaction. Clairvest was formed in 1987 and is based in Toronto.


DEAL STATS #
Overall 46 of 54
Sector (Information Technology) 4 of 5
Type (Recapitalization) 3 of 3
State (Texas) 4 of 4
Country (United States) 23 of 29
Year (2022) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-01 Boston Carting Services

East Greenwich, Rhode Island, United States

Boston Carting Services is an independent solid waste management company servicing the Greater Boston Area with a focus on providing residential, commercial and roll-off container waste collection. Boston Carting Services was founded in 2018 and is based in East Greenwich, Rhode Island.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-21 Acera Insurance

Calgary, Alberta, Canada

Acera Insurance is one of the largest employee-controlled property & casualty and group benefits insurance brokerages in Canada, with offices located in Alberta, British Columbia, Ontario and Yukon. Acera Insurance is based in Calgary, Alberta.

Buy -

Seller(S) 1

SELLER

Clairvest Group

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 4.5B CAD
Size Large
Type Sector Agnostic
DESCRIPTION

Clairvest Group is a generalist Canadian private equity firm focused on mid-market businesses with C$10 to C$50 million of EBITDA. While Clairvest does not have any sector preferences, the Firm prefers fragmented sectors with recurring revenue business models and economies of scale. Clairvest will consider both minority and majority investment positions and invests in the range of C$25- C$100 million per transaction. Clairvest was formed in 1987 and is based in Toronto.


DEAL STATS #
Overall 26 of 31
Sector (Information Technology) 3 of 3
Type (Recapitalization) 2 of 2
State (Texas) 2 of 2
Country (United States) 13 of 17
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-01 Boston Carting Services

East Greenwich, Rhode Island, United States

Boston Carting Services is an independent solid waste management company servicing the Greater Boston Area with a focus on providing residential, commercial and roll-off container waste collection. Boston Carting Services was founded in 2018 and is based in East Greenwich, Rhode Island.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-21 Acera Insurance

Calgary, Alberta, Canada

Acera Insurance is one of the largest employee-controlled property & casualty and group benefits insurance brokerages in Canada, with offices located in Alberta, British Columbia, Ontario and Yukon. Acera Insurance is based in Calgary, Alberta.

Buy -