M&A Deal Summary |
|
|---|---|
| Date | 2015-10-19 |
| Target | Electronic Funds Source |
| Sector | Information Technology |
| Buyer(s) | WEX |
| Sellers(s) |
Warburg Pincus
Ardian |
| Deal Type | Add-on Acquisition |
| Deal Value | 1.1B USD |
| Advisor(s) | Cleary Gottlieb Steen & Hamilton (Legal) |
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| Category | Company |
|---|---|
| Founded | 1983 |
| Sector | Information Technology |
| Employees | 5,300 |
| Revenue | 2.5B USD (2023) |
WEX is a global provider of payment processing and information management services. The Company primarily focuses on simplifying the complexities of payment systems across a wide range of sectors, including fleet, travel and healthcare. For the fleet industry, WEX offers fuel cards and vehicle maintenance solutions to help companies manage their fleets more efficiently. In the travel sector, WEX provides virtual payment solutions that enable travel agencies, corporate travel departments, and online travel providers to automate and manage payments to suppliers. For healthcare, WEX offers healthcare payment products and services that facilitate payments and transactions between patients, providers, and payers. WEX was formed in 1983 and is based in Portland, Maine.
| DEAL STATS | # |
|---|---|
| Overall | 11 of 19 |
| Sector (Information Technology) | 1 of 2 |
| Type (Add-on Acquisition) | 9 of 14 |
| State (Utah) | 1 of 1 |
| Country (United States) | 7 of 12 |
| Year (2015) | 2 of 2 |
| Size (of disclosed) | 1 of 11 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2015-10-15 |
COCO Development
Omaha, Nebraska, United States COCO Development LLC (dba Benaissance) is a provider of ExchangePoint℠ and COBRApoint® Software as a Service (“SaaS”) solutions for individual single-point and consolidated group premium billing. |
Buy | $80M |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2017-11-01 |
WEX Fuel Management
Louisville, Kentucky, United States WEX Fuel Management is a provider of fuel supply chain management software, TelaPoint’s software enables convenience retailers and petroleum outlets to improve the efficiency of their fuel replenishment, buying and administrative operations. TelaPoint manages inventory, dispatch, and fuel pricing for 77 customers around the globe,150 carrier companies and 67,000 sites. |
Sell | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 1966 |
| PE ASSETS | 83.0B USD |
| Size | Mega |
| Type | Sector Agnostic |
Warburg Pincus is a mega-sized, global private equity firm focused on investment opportunities across North America, Asia, and Europe. Warburg will consider investing at various company stages, from early-stage opportunities to distressed situations. Warburg Pincus is organized by industry groups. Verticals include financial services, healthcare, technology, media & telecommunications, energy, consumer & industrial, and real estate. Within financial services, Warburg will consider asset/wealth managers, banks, exchanges, financial technology, insurance, transaction processing, private banking, and specialty/consumer finance. Within healthcare, specific areas of interest include medical devices, healthcare services, and biotech/pharmaceuticals. Within technology/media/communications, Warburg targets software, media/internet/information, financial technology, telecom, business services, and systems/semiconductors. Within energy, specific areas of interest include oil/gas exploration, power generation/transmission, and alternative energy. Warburg Pincus raised its first fund in 1966 and is based in New York City.
| DEAL STATS | # |
|---|---|
| Overall | 123 of 249 |
| Sector (Information Technology) | 5 of 12 |
| Type (Add-on Acquisition) | 47 of 90 |
| State (Utah) | 1 of 2 |
| Country (United States) | 77 of 136 |
| Year (2015) | 15 of 20 |
| Size (of disclosed) | 20 of 63 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2015-10-14 |
LendingPoint
Kennesaw, Georgia, United States LendingPoint is a provider of direct lending services online. LendingPoint offers a fairer lending environment by helping fair credit consumers unlock access to affordable loans. LendingPoint was founded in 2014 and is based in Kennesaw, Georgia. |
Buy | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2015-10-26 |
Interactive Data
Bedford, Massachusetts, United States Interactive Data Corporation is a provider of financial information. Thousands of financial institutions and active traders, as well as hundreds of software and service providers, subscribe to the company's fixed income evaluations, reference data, real-time market data, trading infrastructure services, fixed income analytics,desktop solutions and web-based solutions. Interactive Data’s offerings support clients around the world with mission-critical functions, including portfolio valuation, regulatory compliance, risk management, electronic trading and wealth management. Interactive Data is headquartered in Bedford, Massachusetts and has over 2,400 employees in offices worldwide. |
Sell | $5.2B |
| Category | Private Equity Firm |
|---|---|
| Founded | 1996 |
| PE ASSETS | 125.0B USD |
| Size | Mega |
| Type | Sector Agnostic |
Ardian is a mega-sized diversified investment group focused on opportunities worldwide. Ardian invests across and manages funds focused on small and mid-sized buyouts, growth capital financings, mezzanine, infrastructure, real estate, and co-investment opportunities. Ardian's small-buyouts group targets controlling interests in French, German, and Italian businesses valued up to €100 million. It's mid-sized buyout group seeks businesses valued up €1.5 billion and does not have any geographic limitations. The Infrastructure team looks for European opportunities and can commit up to €150 million per transaction. The Mezzanine group supports junior capital commitments of €5 to €80 million. In addition to direct investing, Ardian also manages various private equity fund-of-funds. Ardian was founded in 1996 and is based in Paris.
| DEAL STATS | # |
|---|---|
| Overall | 105 of 216 |
| Sector (Information Technology) | 3 of 9 |
| Type (Add-on Acquisition) | 29 of 51 |
| State (Utah) | 1 of 1 |
| Country (United States) | 15 of 25 |
| Year (2015) | 9 of 13 |
| Size (of disclosed) | 10 of 33 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2015-10-15 |
First Data
Atlanta, Georgia, United States First Data is a provider of electronic commerce and payment solutions for merchants, financial institutions and card issuers. First Data was formed in 1989 and is based in Atlanta, Georgia. |
Sell | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2015-10-27 |
Micropross SAS
Villeneuve d'Ascq, France Micropross SAS is a provider of test and personalization solutions for the business of RFID, smartcard and NFC. |
Sell | - |
