M&A Deal Summary

Veritas Capital and Providence Equity Partners Acquires Anthology

On January 16, 2020, private equity firms Veritas Capital and Providence Equity Partners acquired software company Anthology from Leeds Equity Partners

Acquisition Highlights
  • This is Veritas Capital’s 3rd and Providence Equity Partners’ 19th transaction in the Software sector.
  • This is Veritas Capital’s 28th and Providence Equity Partners’ 87th transaction in the United States.
  • This is Veritas Capital’s 3rd and Providence Equity Partners’ 6th transaction in Florida.

M&A Deal Summary

Date 2020-01-16
Target Anthology
Sector Software
Buyer(s) Veritas Capital
Providence Equity Partners
Sellers(s) Leeds Equity Partners
Deal Type Secondary Buyout
Advisor(s) Raymond James - Investment Banking (Financial)

Target

Anthology

Boca Raton, Florida, United States
website
Anthology is a provider of administrative software solutions to higher education, nonprofit organizations, and other learning industries. Anthology's product suite includes student information systems, constituent relationship management, enterprise resource planning, student and alumni engagement, retention, and compliance solutions. Anthology was founded in 1988 and is based in Boca Raton, Florida.

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Buyer(S) 2

Buyer

Veritas Capital

New York, New York, United States

website


Category Private Equity Firm
Founded 1992
PE ASSETS 5.8B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Veritas Capital is a private equity investment firm that targets investments in defense, aerospace, government services, media/telecommunications, consumer products, and specialty manufacturing companies. Veritas generally partners with management when pursuing investments. Prospective transaction situations include buyouts, growth capital investments, and leveraged recapitalizations. Veritas Capital was established in 1992 and is based in New York City.


DEAL STATS #
Overall 29 of 35
Sector (Software) 3 of 3
Type (Secondary Buyout) 5 of 7
State (Florida) 3 of 3
Country (United States) 28 of 34
Year (2020) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-16 Edcentric

Overland Park, Kansas, United States

Edcentric Holdings LLC is a SaaS provider of engagement, planning, assessment & compliance solutions to higher education institutions.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-10 Gainwell Technologies

Tysons Corner, Virginia, United States

Gainwell Technologies is an end-to-end provider of technology-enabled, mission-critical solutions that are fundamental to the administration and operations of health programs throughout the United States.

Buy $5.0B
Buyer

Providence Equity Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1989
PE ASSETS 57.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Providence Equity Partners is a specialist private equity firm that targets investments in media, entertainment, communications, and information companies. Specifically, Providence seeks investments in wireless and wireline telephony, cable television content and distribution, music, film, publishing, radio and television broadcasting, and other media and communications sectors. Providence Equity looks to commit $150 million to $800 million of equity capital in transactions ranging from growth financings and recapitalizations, to buyouts and take-privates. Providence Equity Partners was formed in 1989 and has offices in Providence, Rhode Island; New York, New York; Los Angeles, California; London, United Kingdom; Hong Kong, China; and New Delhi, India.


DEAL STATS #
Overall 136 of 151
Sector (Software) 19 of 23
Type (Secondary Buyout) 31 of 35
State (Florida) 6 of 6
Country (United States) 87 of 95
Year (2020) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-18 Smartly.io

Helsinki, Finland

Smartly.io is a digital advertising solution that helps major advertisers create, launch and iterate brand and performance advertising. Smartly.io works with some of the most advanced advertisers in the world, like Uber and eBay, as well as major global brands like Under Armour and Samsonite. With more than 350 employees, Smartly.io has offices in 16 locations around the world.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-25 Univision Communications

New York, New York, United States

Univision Communications, Inc. entertains, informs and empowers U.S. Hispanics with news, sports and entertainment content across broadcast and cable television, audio and digital platforms. The company’s top-rated media portfolio includes the Univision and UniMás broadcast networks, as well as cable networks Galavisión and TUDN, the No. 1 Spanish-language sports network in the country. Locally, Univision owns or operates 65 television stations in major U.S. Hispanic markets and Puerto Rico. Additionally, Uforia, the Home of Latin Music, encompasses 58 owned or operated radio stations, plus 89 affiliates, a live event series and a robust digital audio footprint. The company’s prominent digital assets include Univision.com, streaming service Univision Now, the largest Hispanic influencer network, and several top-rated apps.

Sell -

Seller(S) 1

SELLER

Leeds Equity Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1993
PE ASSETS 2.6B USD
SizeLarge
Type Sector Focused
DESCRIPTION

Leeds Equity Partners is a specialist private equity firm that targets investments in middle-market companies operating in knowledge industries. Specific areas of interest include education (K-12, postsecondary, at-risk/special education, instruction materials, testing), training (corporate training, professional certification/continuing education, language training), and information/business services (b2b publishing, information databases/research, tradeshows/conferences, business process outsourcing, consulting, staffing, marketing). Leeds prefers investing in established companies that are leaders in their respective markets. Leeds Equity Partners was formed in 1993 and is based in New York, New York.


DEAL STATS #
Overall 17 of 21
Sector (Software) 4 of 5
Type (Secondary Buyout) 5 of 8
State (Florida) 1 of 1
Country (United States) 15 of 19
Year (2020) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-16 Edcentric

Overland Park, Kansas, United States

Edcentric Holdings LLC is a SaaS provider of engagement, planning, assessment & compliance solutions to higher education institutions.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-07 iModules

Overland Park, Kansas, United States

iModules is an online Constituent Engagement Management provider for educational institutions. iModules' interconnected suite of modules transforms how institutions create relevant constituent experiences and achieve fundraising success through web content management, marketing communications, online giving, event management, e-commerce, and social media integration. iModules integrates data, content, and strategy to drive participation and financial growth while increasing operational efficiency. iModules was founded in 1999 and is based in Overland Park, Kansas.

Sell -