M&A Deal Summary

Volaris Group Acquires Flash Networks

On June 10, 2020, Volaris Group acquired technology hardware company Flash Networks from HarbourVest Partners and Argonaut Private Equity

Acquisition Highlights
  • This is Volaris Group’s 1st transaction in the Technology Hardware sector.
  • This is Volaris Group’s 14th transaction in the United States.
  • This is Volaris Group’s 1st transaction in New Jersey.

M&A Deal Summary
Date 2020-06-10
Target Flash Networks
Sector Technology Hardware
Buyer(s) Volaris Group
Sellers(s) HarbourVest Partners
Argonaut Private Equity
Deal Type Add-on Acquisition

Target

Flash Networks

Neptune, New Jersey, United States
Flash Networks is a provider of optimization solutions that enable telecommunications operators to improve Radio Access Network spectral efficiency, boost network speed, optimize video and web traffic, and generate over-the-top revenues from the mobile internet. Flash Networks was formed in 1996 and is based in Neptune, New Jersey.

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Buyer(S) 1

Buyer

Volaris Group

Mississauga, Ontario, Canada
Category Company
Sector Software
DESCRIPTION

Volaris acquires, strengthens and grows vertical market technology companies. As an Operating Group of Constellation Software Inc., Volaris is all about strengthening businesses within the markets they compete and enabling them to grow – whether that growth comes through organic measures such as new initiatives and product development, day-to-day business, or through complementary acquisitions.

DEAL STATS #
Overall 45 of 78
Sector (Technology Hardware) 1 of 2
Type (Add-on Acquisition) 39 of 69
State (New Jersey) 1 of 1
Country (United States) 14 of 27
Year (2020) 7 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-19 COLLAB – Soluções Informáticas de Comunicação e Colaboração SA

Lisbon, Portugal

COLLAB – Soluções Informáticas de Comunicação e Colaboração, SA is a provider of mission-critical multi-media Contact Center solutions including Contact Center On-Premise, Contact Center as a Service (CCaaS), and cloud PBX solutions, provided to telecommunications services providers and contact center solution providers worldwide. COLLAB was founded in 2003 and is based in Lisbon, Portugal.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-19 Symbrio AB

Stockholm, Sweden

Symbrio AB is a provider of procure-to-pay software solutions for the installation industry. Symbrio was established in 2000 and is based in Stockholm, Sweden.

Buy -

Seller(S) 2

SELLER

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.

DEAL STATS #
Overall 105 of 132
Sector (Technology Hardware) 2 of 3
Type (Add-on Acquisition) 44 of 57
State (New Jersey) 4 of 4
Country (United States) 67 of 83
Year (2020) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-10 Finjan

East Palo Alto, California, United States

Finjan is a global provider of proactive web security solutions for businesses and organizations. Its comprehensive web security appliances deliver an effective shield against web-borne threats, freeing enterprises to harness the web for maximum commercial results. Finjan's solutions use patented behavior-based technology to repel all types of threats arriving via the web, such as spyware, phishing/pharming, trojans, and other malicious code. Finjan's award-winning solutions help businesses focus on implementing web strategies to realize their full organizational and commercial potential. Finjan was formed in 1997 and is based in East Palo Alto, California.

Buy $44M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-29 CPA Global

Jersey, Channel Islands

CPA Global is an intellectual property (IP) management and technology company serving over 10,000 customers and connecting millions of global IP users every day. CPA Global was founded in 1969 and is based in Jersey, Channel Islands.

Sell -
SELLER

Argonaut Private Equity

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2002
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Argonaut Private Equity is a private equity firm focused on control investments in entrepreneur and family-owned businesses headquartered in the middle region of the US. The Firm seeks industrial oriented manufacturing, distribution, and service companies with revenue between $20 and $300 million and EBITDA between $5 and $50 million. Argonaut typically commits $15 to $100 million per transaction to support buy-outs, distressed and special situations, growth needs, and divestitures. Argonaut Private Equity was founded in 2002 and is based in Tulsa, Oklahoma.

DEAL STATS #
Overall 9 of 11
Sector (Technology Hardware) 1 of 1
Type (Add-on Acquisition) 5 of 6
State (New Jersey) 1 of 1
Country (United States) 9 of 11
Year (2020) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-01 Applied Industrial Machining

Oklahoma City, Oklahoma, United States

Applied Industrial Machining engages in machining and manufacturing of oilfield products and specialized parts for a variety of industries. Applied understands how to serve customers effectively across a variety of jobs, including prototyping, hot jobs, and contract manufacturing. Applied’s strength lies in the company's commitment to meeting our customers’ needs and delivering quality work on time and within budget. Applied Industrial Machining was founded in 1986 and is based in Oklahoma City.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-01 American Cementing

Tulsa, Oklahoma, United States

American Cementing is a provider of cementing services for the oil & gas industry with an established footprint in nearly every oil & gas basin throughout the United States. The Company’s services include in-depth laboratory testing, precise blending at the bulk plant and dependable mixing & pumping operations at the wellsite. American Cementing was founded in 1872 and is based in Tulsa, Oklahoma.

Buy -
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