Investment Summary

TZP Group Invests In Evergent

On May 14, 2020, private equity firm TZP Group invested in internet software and services company Evergent

Investment Highlights
  • This is TZP Group’s 1st transaction in the Internet Software and Services sector.
  • This is TZP Group’s 30th transaction in the United States.
  • This is TZP Group’s 4th transaction in California.

Investment Summary

Date 2020-05-14
Target Evergent
Sector Internet Software and Services
Investor(s) TZP Group
Deal Type Growth Capital
Advisor(s) Raymond James - Investment Banking (Financial)
Latham & Watkins (Legal)

Target

Evergent

Sunnyvale, California, United States
Evergent is a provider of cloud-based subscriber and partner management solutions that enable success for cloud video service providers. Evergent’s carrier-grade cloud-based software enables video service providers to generate more revenue, delight customers and partners, and run their back-office efficiently. Evergent’s customers include carriers such as AT&T, Airtel, SingTel and T-Mobile, and media companies such as FOX and Sony Entertainment Television. Evergent was formed in 2007 and is headquartered in Sunnyvale, California.

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Investor(S) 1

Investor

TZP Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2007
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

TZP Group is a private equity firm focused on the business and consumer services sectors. Specific areas of interest include franchising, outsourced business, and IT services, marketing and media services, travel content and distribution, real estate services, specialty finance, and consumer health services. TZP looks to invest $10 to $130 million in for minority or minority positions in profitable companies with at least $10 million in revenue. TZP Group was formed in 2007 and is based in New York, New York.


DEAL STATS #
Overall 33 of 51
Sector: Internet Software and Services M&A 1 of 2
Type: Growth Capital M&A Deals 16 of 20
State: California M&A 4 of 7
Country: United States M&A 30 of 48
Year: 2020 M&A 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-18 Constellation Advisers

New York, New York, United States

Constellation Advisers is a provider of outsourced CFO, accounting, operational, regulatory and compliance support services to a range of alternative and traditional investment management firms and their investors, including private equity funds, hedge funds, credit funds, venture capital funds, family offices, mutual funds, fund of funds, among others. Constellation Advisers was established in 2008 and is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-29 Advocate Solutions

Columbus, Ohio, United States

Advocate Solutions LLC offers a wide variety of management and technology services to multiple agencies across state and local governments. The company’s consultants deliver the successful implementation of high profile, mission-critical projects to a wide client base in the Midwest and select clients nationally. Advocate Solutions was founded in 1995 and is based in Columbus, Ohio.

Sell -