M&A Deal Summary |
|
|---|---|
| Date | 2009-11-03 |
| Target | NuVox Communications |
| Sector | Communications |
| Buyer(s) | Windstream |
| Sellers(s) |
Pamlico Capital
Meritage Funds Quadrangle Group Cyprium Partners M/C Partners CCMP Capital Ridgemont Equity Partners Goldman Sachs Merchant Banking KKR |
| Deal Type | Add-on Acquisition |
| Deal Value | 643M USD |
| Advisor(s) | Deutsche Bank Corporate & Investment Banking Wells Fargo Securities (Financial) Cravath, Swaine & Moore (Legal) |
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| Category | Company |
|---|---|
| Founded | 2006 |
| Sector | Communications |
| Employees | 11,080 |
| Revenue | 5.1B USD (2019) |
Windstream is a provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, phone and digital TV services to consumers primarily in rural areas. Windstream was founded in 2006 and is based in Little Rock, Arkansas.
| DEAL STATS | # |
|---|---|
| Overall | 4 of 14 |
| Sector (Communications) | 4 of 13 |
| Type (Add-on Acquisition) | 4 of 13 |
| State (South Carolina) | 1 of 1 |
| Country (United States) | 4 of 14 |
| Year (2009) | 1 of 3 |
| Size (of disclosed) | 5 of 11 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2007-08-31 |
CT Communications
Concord, North Carolina, United States CT Communications, Inc., headquartered in Concord, N.C., is a provider of integrated telecommunications and related services to residential and business customers located primarily in North Carolina. CTC offers a range of telecommunications services, including broadband high-speed Internet services, local and long-distance telephone services, and digital wireless voice and data services. |
Buy | $585M |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2009-11-10 |
D&E Communications
Ephrata, Pennsylvania, United States D&E operates as a competitive local exchange carrier (CLEC) in Altoona, Harrisburg, Lancaster, Pottstown, Reading, State College and Williamsport and serves approximately 47,000 lines. |
Buy | $330M |
| Category | Private Equity Firm |
|---|---|
| Founded | 1988 |
| PE ASSETS | 3.5B USD |
| Size | Large |
| Type | Sector Agnostic |
Pamlico Capital is a private equity group focused on mid-sized transactions. Pamlico looks to invest $25 to $125 million per transaction. Sectors of interest include business and technology services, consumer products/services, industrial, energy, financial services, healthcare, media, and communications. Pamlico will consider both minority and majority positions. Prospective transactions include management or leveraged buyouts, recapitalizations, growth financings, mezzanine, and special situations. Pamlico was formerly known as Wachovia Capital Partners. The Firm was originally formed in 1988 and is based in Charlotte, North Carolina.
| DEAL STATS | # |
|---|---|
| Overall | 17 of 61 |
| Sector (Communications) | 2 of 8 |
| Type (Add-on Acquisition) | 8 of 32 |
| State (South Carolina) | 1 of 1 |
| Country (United States) | 17 of 59 |
| Year (2009) | 2 of 2 |
| Size (of disclosed) | 4 of 14 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2009-08-31 |
Hosting.com
Denver, Colorado, United States Hosting.com is a datacenter operator and provider of cloud hosting and recovery services. Hosting delivers next generation cloud hosting and recovery services to ensure customer’s mission critical applications are always on. |
Sell | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2010-03-25 |
American Renal Associates
Beverly, Massachusetts, United States American Renal Associates is a developer, owner and operator of outpatient kidney dialysis facilities in partnership with nephrologists. American Renal Associates was founded in 1999 and is based in Beverly, Massachusetts. |
Sell | - |
| Category | Growth Capital Firm |
|---|---|
| Founded | 1998 |
| PE ASSETS | 1.0B USD |
| Size | Large |
| Type | Sector Focused |
Meritage Funds is a private investment firm focused on growth equity opportunities. The Firm targets companies that deliver tech-based services that leverage recurring revenue business models. Areas of interest include businesses that 'enable communications, deliver content, and facilitate commerce'. Prospective transaction situations include direct equity financings, recapitalizations, control acquisitions, consolidations, restructurings, spin-outs and management buy-outs. Meritage typically looks to commit $3 to $20 million over the lifecycle of an investment. Meritage Funds was formed in 1998 and is based in Arvada, Colorado.
| DEAL STATS | # |
|---|---|
| Overall | 7 of 14 |
| Sector (Communications) | 6 of 9 |
| Type (Add-on Acquisition) | 4 of 8 |
| State (South Carolina) | 1 of 1 |
| Country (United States) | 5 of 12 |
| Year (2009) | 1 of 1 |
| Size (of disclosed) | 3 of 10 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2009-04-21 |
NewPath Networks
Seattle, Washington, United States NewPath Networks is a wireless infrastructure company that designs, develops and operates fiber-fed wireless carrier networks using a distributed antenna architecture to improve signal strength and network capacity. |
Buy | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2010-03-15 |
Access Media 3
Oakbrook, Illinois, United States Access Media 3, Inc. provides triple-play video, high-speed internet, and voice services to residential customers in multiple dwelling unit developments. Access Media 3 was established in 2006 and is based in Oakbrook, Illinois. |
Buy | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 2000 |
| PE ASSETS | 3.0B USD |
| Size | Large |
| Type | Sector Agnostic |
Quadrangle Group is a specialist private equity firm focused on the information and communications technology services sectors. Quadrangle was formed in 2000 and is based in New York City.
| DEAL STATS | # |
|---|---|
| Overall | 11 of 20 |
| Sector (Communications) | 4 of 7 |
| Type (Add-on Acquisition) | 4 of 8 |
| State (South Carolina) | 1 of 2 |
| Country (United States) | 10 of 16 |
| Year (2009) | 2 of 2 |
| Size (of disclosed) | 8 of 9 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2009-07-17 |
Alpha Media Group
New York, New York, United States Alpha Media Group Inc. is a multimedia company and publisher of MAXIM, the largest young men’s lifestyle brand in America, which reaches nearly 9 million readers each month. MAXIM Digital reaches more than 4 million unique viewers each month. MAXIM magazine publishes 16 editions, sold in 75 countries worldwide. |
Sell | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2010-02-03 |
TowerVision
Gurgaon, India TowerVision is an independent tower company specializing in the provision of passive infrastructure to the wireless communications industry in India. TowerVision was founded in 2006 and is based in Gurgaon, India. |
Buy | - |
| Category | Mezzanine Finance Firm |
|---|---|
| Founded | 1998 |
| PE ASSETS | 1.8B USD |
| Size | Large |
| Type | Sector Agnostic |
Cyprium Partners is a private investment firm that provides mezzanine and equity capital to profitable, middle-market companies. The Firm will consider both non-control and control positions in businesses with revenue of $50 to $300 million and at least $8 million of EBITDA. Sectors of interest include traditional industries such as manufacturing, distribution, and services. Cyprium avoids investments in financial services, real estate, energy, commodities, natural resources, restaurants, long-term care and healthcare companies. Cyprium was formerly known as Key Principal Partners. The Firm has offices in Cleveland, Ohio and New York City.
| DEAL STATS | # |
|---|---|
| Overall | 8 of 28 |
| Sector (Communications) | 2 of 2 |
| Type (Add-on Acquisition) | 3 of 11 |
| State (South Carolina) | 1 of 2 |
| Country (United States) | 8 of 27 |
| Year (2009) | 1 of 1 |
| Size (of disclosed) | 1 of 2 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2008-11-07 |
Xaloy
New Castle, Pennsylvania, United States Xaloy is the manufacturer of plastification units and components. These components are used in plastic injection molding and extrusion processing machinery sold to original equipment manufacturers and in the aftermarket to plastic processors. |
Sell | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2010-01-01 |
Hobbico
Champaign, Illinois, United States Hobbico is a manufacturer and distributor of radio-controlled (R/C) models and other general hobby products. The Company carries more than 52,000 SKUs, which consist of R/C airplanes, cars, boats, radio systems, accessories, and software. Hobbico was founded in 1971 and is based in Champaign, Illinois. |
Buy | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 1986 |
| PE ASSETS | 2.4B USD |
| Size | Large |
| Type | Sector Focused |
M/C Partners is a private equity and venture capital firm that targets communications, media and information technology companies throughout the US, Canada and Europe. M/C looks to invest $10 to $50 million per transaction and is usually the first institutional investor in its portfolio companies. Areas of interest include cable system operators, wireline communications services, fixed wireless broadband operators, media/content, mobile wireless data software and services and operators, wireless tower operators and on-demand software companies. Prospective transaction types include buyouts, growth capital and seed capital financing. M/C partners was formerly known as Chestnut Street Partners. M/C Partners was founded in 1986. The Firm is based in Boston with additional offices in San Francisco and London.
| DEAL STATS | # |
|---|---|
| Overall | 10 of 31 |
| Sector (Communications) | 9 of 20 |
| Type (Add-on Acquisition) | 5 of 16 |
| State (South Carolina) | 1 of 1 |
| Country (United States) | 10 of 26 |
| Year (2009) | 1 of 1 |
| Size (of disclosed) | 6 of 15 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2008-09-22 |
Public Mobile
Toronto, Ontario, Canada Public Mobile, Inc. is a provider of unlimited talk, text and data services to value conscious customers in Ontario and Quebec. |
Buy | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2010-06-01 |
Fusepoint
Mississauga, Ontario, Canada Fusepoint, Inc. is an independent provider of managed IT and colocation services to enterprises in Canada. Fusepoint offers services that allow customers to outsource their mission-critical IT infrastructure and application requirements. |
Sell | $125M |
| Category | Private Equity Firm |
|---|---|
| Founded | 1984 |
| PE ASSETS | 18.0B USD |
| Size | Mega |
| Type | Sector Agnostic |
CCMP Capital is a large private equity firm focused on buyout and growth equity valued up to $2 billion. Sectors of interest include consumer, retail, and services (specialty retail, direct marketing, consumer packaged goods); media/telecom (consumer and trade publishing, content and programming, broadcasting, cable, wireless and wire line communications ); industrial (chemicals, manufacturing, distribution, automotive); energy (exploration and production, power generation, renewable energy, services); and healthcare (services, pharmaceuticals, medical devices). The Firm's target investment size is $100 to $500 million. CCMP Capital Advisors was formed in 1984 and was spun off in 2006 from JP Morgan Chase. The Firm is based in New York City.
| DEAL STATS | # |
|---|---|
| Overall | 44 of 78 |
| Sector (Communications) | 3 of 5 |
| Type (Add-on Acquisition) | 13 of 22 |
| State (South Carolina) | 1 of 1 |
| Country (United States) | 34 of 61 |
| Year (2009) | 4 of 7 |
| Size (of disclosed) | 21 of 30 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2009-10-14 |
Vitamin Shoppe
Secaucus, New Jersey, United States Vitamin Shoppe, Inc. is a specialty retailer and direct marketer of vitamins, minerals and nutritional supplements, offering a broad line of products at discounts to list prices. Vitamin Shoppe, Inc. was founded in 1977 and is based in Secaucus, New Jersey. |
Sell | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2009-11-13 |
Ascend Media
Lee’s Summit, Missouri, United States Ascend Media is a custom media company. Ascend’s portfolio of clients and their communication objectives are diverse and reflect a broad array of American commerce. Ascend Integrated Media is uniquely positioned to work with companies to develop and produce brand enhancing communications products. The company's highly skilled team of media professionals engages on behalf of the client to create and manage print and digital content associated with marketing, branding and social media initiatives. Ascend Media was founded in 1982 and is based in Lee’s Summit, Missouri. |
Sell | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 1993 |
| PE ASSETS | 7.0B USD |
| Size | Mega |
| Type | Sector Agnostic |
Ridgemont Equity Partners is an independent private equity firm specializing in middle-market buy-outs, corporate divestitures, recapitalizations and growth capital investments. The Firm targets to invest in companies located in North America, preferably in US and Canada. REP looks to invest up to $500 million in companies with EBIDTA of $5 - $50 million. The Firm seeks to hold both majority and minority equity interest in portfolio companies. Specific areas of interest include basin industries and services, energy, healthcare, telecommunications, media and technology. Ridgemont Equity Partners is a spun-off of Banc of America Capital Investors (BACI). Ridgemont Equity Partners was formed in August 2010 and is based in Charlotte, North Carolina.
| DEAL STATS | # |
|---|---|
| Overall | 41 of 91 |
| Sector (Communications) | 4 of 9 |
| Type (Add-on Acquisition) | 20 of 36 |
| State (South Carolina) | 2 of 3 |
| Country (United States) | 34 of 80 |
| Year (2009) | 3 of 3 |
| Size (of disclosed) | 13 of 23 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2009-07-05 |
Paris Re Holdings
Zug, Switzerland Paris Re Holdings Ltd. is a property and casualty reinsurer with a global market presence. |
Sell | $2.0B |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2010-01-21 |
Atrium
Dallas, Texas, United States Atrium Corp. is a nationally-recognized provider of high quality windows and doors to the new construction and repair and remodel markets. The company operates a nationwide network of manufacturing facilities and sells a comprehensive line of products in all 50 states and Canada. |
Sell | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 1986 |
| PE ASSETS | 155.0B USD |
| Size | Mega |
| Type | Sector Agnostic |
Goldman Sachs Merchant Banking Division is the investment arm of Goldman Sachs. The primary corporate investment group within the Merchant Banking Division is Goldman Sachs' direct investment arm. GS's direct investment arm consists of GS Capital Partners, GS Mezzanine Partners, and GS Growth Partners. GS Capital Partners is the direct corporate equity investment group which seeks LBO, recapitalization, and growth investments to help fund acquisitions, expansions, recapitalizations, restructurings, buyouts, and take privates. GS Capital Partners looks to invest between $50 and $800 million in opportunities in North/South America, Europe, Asia. GS Mezzanine Partners is the junior capital arm of Goldman Sachs. GS Mezzanine looks to invest between $200 million and and $800 million in transactions valued up to $10 billion. Investment proceeds are used to fund leveraged buyouts, expansion financings, recapitalizations, acquisitions, and restructurings. GS Growth looks to invest in growth equity transactions. The unit seeks to commit $20 to $200 million per investment. Other units within GS's merchant banking division include Real Estate, Infrastructure, and Urban Investments. Goldman Sachs Merchant Banking Division is based in New York City.
| DEAL STATS | # |
|---|---|
| Overall | 21 of 110 |
| Sector (Communications) | 6 of 8 |
| Type (Add-on Acquisition) | 4 of 37 |
| State (South Carolina) | 1 of 1 |
| Country (United States) | 14 of 78 |
| Year (2009) | 4 of 6 |
| Size (of disclosed) | 24 of 32 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2009-10-27 |
Capmark Financial Group
Horsham, Pennsylvania, United States Capmark Financial Group, Inc. is a commercial real estate finance company with investments and funds management and asset management businesses. |
Sell | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2009-11-13 |
Dollar General
Goodlettsville, Tennessee, United States Dollar General is a discount retailer offering a variety of apparels, household, cleaning, health, beauty and baby products. Dollar General was incorporated in 1939 and is headquartered in Goodlettsville, Tennessee. |
Sell | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 1976 |
| PE ASSETS | 510.0B USD |
| Size | Mega |
| Type | Sector Agnostic |
KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.
| DEAL STATS | # |
|---|---|
| Overall | 29 of 204 |
| Sector (Communications) | 1 of 8 |
| Type (Add-on Acquisition) | 7 of 66 |
| State (South Carolina) | 1 of 1 |
| Country (United States) | 18 of 89 |
| Year (2009) | 4 of 5 |
| Size (of disclosed) | 33 of 38 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2009-10-27 |
Capmark Financial Group
Horsham, Pennsylvania, United States Capmark Financial Group, Inc. is a commercial real estate finance company with investments and funds management and asset management businesses. |
Sell | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2009-11-08 |
TASC
Chantilly, Virginia, United States TASC is a provider of advanced systems engineering, integration and decision-support services to the intelligence, defense, homeland security and civilian-federal agencies. |
Buy | $1.7B |
