M&A Deal Summary

Xchanging Acquires Agencyport Software

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

Acquisition Highlights
  • This is Xchanging’s 1st transaction in the Software sector.
  • This is Xchanging’s 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 consortium of strategic buyers in 2016.

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

Target

Agencyport Software

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

London, United Kingdom

website

Category Company
Founded 1999
Sector Information 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

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

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

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
Size Mega
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 53
Sector (Software) 2 of 6
Type (Add-on Acquisition) 11 of 18
State (Massachusetts) 3 of 5
Country (United States) 20 of 44
Year (2014) 3 of 4
Size (of disclosed) 20 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-28 Prime Risk Partners

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

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 founded in 1927 and is based in Jacksonville, Florida.

Sell -
SELLER

Dowling Capital Partners

Farmington, Connecticut, United States

Investor

website

Category Private Equity Firm
Founded 2010
Size Middle-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

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

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 -
Mergr

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