M&A Deal Summary

Webster Bank Acquires Ametros Financial

On December 14, 2023, Webster Bank acquired information technology company Ametros Financial from Long Ridge Equity Partners and Clarion Capital Partners for 350M USD

Acquisition Highlights
  • This is Webster Bank’s 1st transaction in the Information Technology sector.
  • This is Webster Bank’s largest (disclosed) transaction.
  • This is Webster Bank’s 3rd transaction in the United States.
  • This is Webster Bank’s 2nd transaction in Massachusetts.

M&A Deal Summary
Date 2023-12-14
Target Ametros Financial
Sector Information Technology
Buyer(s) Webster Bank
Sellers(s) Long Ridge Equity Partners
Clarion Capital Partners
Deal Type Add-on Acquisition
Deal Value 350M USD
Advisor(s) Choate Hall & Stewart LLP (Legal)

Target

Ametros Financial

Burlington, Massachusetts, United States
website
Ametros Financial offers a broad set of financial and medical management tools and technology, including medical administration reporting, automated payment technology, and access to significant healthcare discounts for pharmaceuticals, provider visits, and medical equipment. Ametros Financial was founded in 2010 and is based in Burlington, Massachusetts.

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Buyer(S) 1

Buyer

Webster Bank

Waterbury, Connecticut, United States

website

Category Company
Founded 1935
Sector Financial Services
Employees3,345
Revenue 1.2B USD (2021)
DESCRIPTION

Webster Bank is a bank holding company for Webster Bank. Webster provides consumer and business banking, mortgage, financial planning, and trust and investment services. Webster Bank was founded in 1935 and is based in Waterbury, Connecticut.

DEAL STATS #
Overall 3 of 3
Sector (Information Technology) 1 of 1
Type (Add-on Acquisition) 3 of 3
State (Massachusetts) 2 of 2
Country (United States) 3 of 3
Year (2023) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-16 Bend Financial

Boston, Massachusetts, United States

Bend Financial is a cloud-based platform solution provider for health savings accounts (HSA). Bend Financial is based in Boston, Massachusetts.

Buy -

Seller(S) 2

SELLER

Long Ridge Equity Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Growth Capital Firm
Founded 2007
PE ASSETS 900M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Long Ridge Equity Partners is a private investment firm focused on the financial services sector. The Firm seeks growth capital and special situation investments. Specific areas of interest include financial technology, specialty finance, securities and trading, asset management, payments, and exchanges. Long Ridge was formed in 2007 and is based in New York City.

DEAL STATS #
Overall 9 of 10
Sector (Information Technology) 3 of 3
Type (Add-on Acquisition) 5 of 5
State (Massachusetts) 1 of 1
Country (United States) 9 of 10
Year (2023) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-12 MessageGears

Atlanta, Georgia, United States

MessageGears is a data-connected customer engagement platform delivering advanced customer segmentation and message personalization and delivery that simply outperforms other enterprise marketing clouds and data platforms. MessageGears is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-02 Avetta

Lehi, Utah, United States

Avetta is a provider of a cloud-based supply chain risk management platform. Avetta connects global organizations across several industries including oil/gas, telecom, construction materials, facilities management, and many others, with qualified and vetted suppliers, contractors, and vendors. Avetta was founded in 2003 and is based in Lehi, Utah.

Sell -
SELLER

Clarion Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1999
Size Small
Type Sector Agnostic
DESCRIPTION

Clarion Capital Partners is a private equity investment firm that invests in middle-market, growth-oriented companies with and an enterprise value of $50 to $200 million and EBITDA greater than $7.5 million. Target industries include consumer products, business and healthcare services, specialty financial services, specialty retail, and niche media/entertainment. Clarion seeks companies requiring an equity investment of $15 to $75 million in a broad range of investment structures including: growth equity, recapitalizations, and leveraged buyouts. Clarion Capital was formed in 1999 and is based in New York City.

DEAL STATS #
Overall 16 of 16
Sector (Information Technology) 2 of 2
Type (Add-on Acquisition) 10 of 10
State (Massachusetts) 2 of 2
Country (United States) 15 of 15
Year (2023) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-23 Vin Di Bona Productions

Los Angeles, California, United States

Vin Di Bona Productions is a creator and producer of America’s Funniest Home Videos (“AFV”), one of the successful television and digital franchises. Vin Di Bona Productions was formed in 1989 and is based in Los Angeles, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-15 Narrative

Washington, District of Columbia, United States

Narrative is an integrated public affair and corporate reputation agency. Narrative was founded in 2019 and is based in Washington, District of Columbia.

Buy -
Mergr

Product

Company

Legal