M&A Deal Summary

Xchanging Acquires Agencyport Software

On July 4, 2014, Xchanging Plc acquired software company Agencyport Software Ltd. from Dowling Capital Partners and Thomas H. Lee Partners for 64M GBP

Acquisition Highlights
  • This is Xchanging’s 1st transaction in the Software sector.
  • This is Xchanging’s 1st largest (disclosed) transaction.
  • This is Xchanging’s 2nd transaction in the United States.
  • This is Xchanging’s 1st transaction in Massachusetts.
Investment Fate
  • Agencyport Software was divested to a strategic buyer in 2016.

M&A Deal Summary

Date 2014-07-04
Target Agencyport Software Ltd.
Sector Software
Buyer(s) Xchanging Plc
Sellers(s) Dowling Capital Partners
Thomas H. Lee Partners
Deal Type Add-on Acquisition
Deal Value 64M GBP
Advisor(s) Arma Partners LLP (Financial)

Target

Agencyport Software Ltd.

Boston, Massachusetts, United States
website
Agencyport Software lets P&C insurers engage simply and quickly with their product distribution channels and technology partners. Company offer the world's leading web-based distribution technologies and robust business intelligence tools making the complex business of insurance simpler and smarter, increasing efficiency, improving underwriting, and sharpening carriers’ competitive edge.

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Buyer(S) 1

Buyer

Xchanging Plc

London, United Kingdom

website


Category Company
Founded 1999
SectorInformation Technology
Employees7,409
Revenue 574M GBP (2014)
DESCRIPTION

Xchanging Plc is a business process outsourcing company providing industry specific processing to the banking and insurance industries and procurement, finance and accounting and human resources services to customers across industries.


DEAL STATS #
Overall 4 of 4
Sector (Software) 1 of 1
Type (Add-on Acquisition) 4 of 4
State (Massachusetts) 1 of 1
Country (United States) 2 of 2
Year (2014) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-20 SBB Services, Inc. (dba MarketMaker4)

Chicago, Illinois, United States

SBB Services, Inc. (dba MarketMaker4) is an e-sourcing software-as-a-service provider based in the U.S.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-02 Agencyport Software Ltd.

Boston, Massachusetts, United States

Agencyport Software lets P&C insurers engage simply and quickly with their product distribution channels and technology partners. Company offer the world's leading web-based distribution technologies and robust business intelligence tools making the complex business of insurance simpler and smarter, increasing efficiency, improving underwriting, and sharpening carriers’ competitive edge.

Sell -

Seller(S) 2

SELLER

Dowling Capital Partners

Farmington, Connecticut, United States

Investor

website


Category Private Equity Firm
Founded 2010
SizeMiddle-Market
Type Sector Focused
DESCRIPTION

Dowling Capital Partners is a private equity firm focused on investing in insurance and related services and distribution companies. Dowling looks to invest $5 to $20 million in small and mid-sized businesses operating primarily within the US, Bermuda, UK or Western Europe. Dowling was formed in 2011 and is based in Farmington, Connecticut.


DEAL STATS #
Overall 2 of 3
Sector (Software) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (Massachusetts) 1 of 1
Country (United States) 1 of 2
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-11 Risk Transfer, Inc.

Orlando, Florida, United States

Risk Transfer, Inc. is a provider of property and casualty insurance solutions.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-02 Hodges-Mace Benefits Group, Inc.

Atlanta, Georgia, United States

Hodges-Mace Benefits Group, Inc. is a provider of employee benefits enrollment and administration services to large corporate clients. Hodges-Mace empowers employees and employers to make smarter benefit decisions through a combination of innovative technologies and proven employee education and enrollment services. Hodges-Mace Benefits Group, Inc. was founded in 2004 and is based in Atlanta, Georgia.

Sell -
SELLER

Thomas H. Lee Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1974
PE ASSETS 25.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Thomas H. Lee Partners, LP (THL) is a private equity firm that seeks buyout, expansion, consolidation, distressed, and recapitalization investments across various industries. Sectors of interest include business and information services, consumer products/retail, financial services, healthcare, industrial, and media/communications. THL looks to invest $100 to $400 million in companies valued up to $2.5 billion. Thomas H. Lee Partners, LP was formed in 1974 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 28 of 50
Sector (Software) 2 of 4
Type (Add-on Acquisition) 11 of 17
State (Massachusetts) 3 of 5
Country (United States) 20 of 42
Year (2014) 3 of 4
Size (of disclosed) 20 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-28 Prime Risk Partners, Inc.

Alpharetta, Georgia, United States

Prime Risk Partners is a provider of insurance distribution platform through selective acquisitions, strategic new hires, and thoughtful operations. Prime Risk Partners was founded in 2014 and is based in Alpharetta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-28 Acosta Sales & Marketing, Inc.

Jacksonville, Florida, United States

Acosta Sales & Marketing provides outsourced sales, marketing and merchandising services to manufacturers, suppliers, and producers of consumer packaged goods. Acosta was formed in 1927 and is based in Jacksonville, Florida.

Sell -