M&A Deal Summary

ZMC, Siris Capital Group and Sankaty Advisors Acquire Airvana

On December 18, 2009, private equity firm ZMC, private equity firm Siris Capital Group and Sankaty Advisors acquired communications company Airvana for 530M USD

Acquisition Highlights
  • This is ZMC’s 1st, Siris Capital Group’s 1st and Sankaty Advisors’ 1st transaction in the Communications sector.
  • This is ZMC’s , Siris Capital Group’s 12th and Sankaty Advisors’ 2nd largest (disclosed) transaction.
  • This is ZMC’s 5th, Siris Capital Group’s 1st and Sankaty Advisors’ 1st transaction in the United States.
  • This is ZMC’s 1st, Siris Capital Group’s 1st and Sankaty Advisors’ 1st transaction in Massachusetts.
Investment Fate
  • Airvana was sold to a publicly-traded strategic buyer in 2015.

M&A Deal Summary
Date 2009-12-18
Target Airvana
Sector Communications
Buyer(s) ZMC
Siris Capital Group
Sankaty Advisors
Deal Type Going Private
Deal Value 530M USD

Target

Airvana

Chelmsford, Massachusetts, United States
Airvana LP is a provider of 4G LTE and 3G small cell solutions that enable people to access communications, information and entertainment in the most challenging and high-value environments—offices, public venues and homes.

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Buyer(S) 3

Buyer

ZMC

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2001
Size Small
Type Sector Focused
DESCRIPTION

Zelnick Media Capital (ZMC) is a private equity firm focused on the media and communications sectors. ZMC looks to partner with management teams when pursuing transactions and will consider a variety of transaction situations, including growth-oriented investments and companies in need of operational improvement. Zelnick Media Capital was formed in 2001 and is based in New York City.

DEAL STATS #
Overall 5 of 21
Sector (Communications) 1 of 2
Type (Going Private) 1 of 2
State (Massachusetts) 1 of 1
Country (United States) 5 of 20
Year (2009) 2 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-06-16 Cannella Media

Burlington, Wisconsin, United States

Cannella Media is a provider of direct response television media in the United States. The company provides its marketing clients with access to media inventory across 1,100+ local broadcast stations, national and regional cable networks, and Cannella Media's proprietary network of PBM (commonly referred to as PI) media inventory. Cannella uses its proprietary software tools and databases to analyze and aggregate premium DRTV inventory for some of the biggest long-form campaigns in the industry. Cannella Media was founded in 1985 and is based in Burlington, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-28 OTX

Culver City, California, United States

OTX Corp. is a consumer research and consulting company providing online-based research like advertising, customer loyalty, marketing, media, public affairs research, and survey management services.

Sell -
Buyer

Siris Capital Group

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2011
PE ASSETS 2.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Siris Capital Group is a private equity firm focused on control investments in technology, telecommunications, and healthcare companies. Siris looks to acquire large companies valued from $250 million to $2 billion. The Firm was spun out of hedge fund SAC Capital Advisors in 2011. Siris Capital Group is based in New York City.

DEAL STATS #
Overall 1 of 20
Sector (Communications) 1 of 3
Type (Going Private) 1 of 10
State (Massachusetts) 1 of 4
Country (United States) 1 of 18
Year (2009) 1 of 1
Size (of disclosed) 12 of 13
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-27 Tekelec Global

Morrisville, North Carolina, United States

Tekelec Global, Inc. is a provider of signaling and session control systems and software to both wireless and wireline carriers as well as cable network operators.

Buy $780M
Buyer

Sankaty Advisors

Boston, Massachusetts, United States
Category Company
Founded 1998
Sector Financial Services
DESCRIPTION

Sankaty Advisors is the independently-managed credit affiliate of Bain Capital, LLC and a private managers of fixed income and credit instruments. Founded in 1998 and now managing more than $24 billion of assets, Sankaty has an integrated team of 200 people that enables the firm to invest up and down the capital structure, and to conduct rigorous, independent analysis of thousands of corporate issuers.

DEAL STATS #
Overall 1 of 3
Sector (Communications) 1 of 1
Type (Going Private) 1 of 1
State (Massachusetts) 1 of 1
Country (United States) 1 of 2
Year (2009) 1 of 1
Size (of disclosed) 2 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-02-05 Aleris International

Cleveland, Ohio, United States

Aleris International is a producer of aluminum rolled products and extrusions, aluminum recycling and specification alloy production. Major customers include some of the world’s largest companies in the aerospace, building and construction, containers and packaging, metal distribution, and transportation industries. Aleris serves these customers with its low-cost, flexible, technically advanced and strategically located manufacturing operations supported by industry-leading research and development.

Buy $690M
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