Charlesbank Capital Partners and M/C Partners Close Acquisition of Acxiom ITO
CNNMONEY
Charlesbank Capital Partners and M/C Partners today announced they have closed their acquisition of the IT Outsourcing business of Acxiom (NASDAQ: ACXM).
Ryan Carroll, Managing Director at Charlesbank, said, “As a standalone company with a focused, well-capitalized shareholder group, highly experienced leadership team, and passionate, talented employees, Acxiom ITO is well-positioned for success. Charlesbank and our partner, M/C Partners, feel confident that the company will exceed the expectations of customers, employees and suppliers in the months ahead.”
“This acquisition will help the company expand its leadership in the IT and mainframe outsourcing space,” said Gillis Cashman, Managing Partner, M/C Partners. “We are very pleased to be working with Charlesbank to grow the company and provide Acxiom ITO’s clients with continually evolving and improving products and services.”
Charlesbank has deep and relevant experience investing in similar companies including past investments in IT outsourcing, telecom and complex corporate carve-outs. In strengthening Acxiom ITO as a standalone entity, the team will draw on its expertise to capitalize on key growth avenues, ensure a smooth transition for all clients and equip the company to more adeptly meet the needs of its customers.
In addition to providing funding for the acquisition, M/C Partners will be leveraging its broad experience in the IT infrastructure and communications services markets. The firm has been a leading investor in this segment for more than two decades, having previously invested in Involta, Fusepoint, Attenda, Denovo, Zayo Group and Lightower.
Webster Bank’s TMT practice provided financing for the transaction. Goodwin Procter served as the legal advisor for the buyers.
About Acxiom Acxiom is an enterprise data, analytics and software-as-a-service company that uniquely fuses trust, experience and scale to fuel data-driven results. For over 40 years, Acxiom has been an innovator in harnessing the most important sources and uses of data to strengthen connections between people, businesses and their partners. Utilizing a channel and media neutral approach, we leverage cutting-edge, data-oriented products and services to maximize customer value. Every week, Acxiom powers more than a trillion transactions that enable better living for people and better results for our 7,000+ global clients. For more information, please visit www.acxiom.com.
About Acxiom IT Outsourcing, LP Acxiom ITO provides IT services that help clients deliver better, faster, more cost-effective results. Our services extend across all platforms to meet a variety of needs. We pride ourselves on delivering superior customer service and innovative solutions that enable our customers’ success. Acxiom ITO has been recognized in the top 3 for mainframe outsourcing by a leading analyst firm. For 46 years, companies that require high-performance, secure, reliable IT have turned to Acxiom ITO and remained loyal clients — some for over 15 years. To learn more, please visit www.acxiomIT.com.
About Charlesbank Capital Partners
Based in Boston and New York, Charlesbank Capital Partners is a middle-market private equity investment firm managing more than $3 billion of capital. Charlesbank focuses on management-led buyouts and growth capital financings, generally investing $50 million to $150 million per transaction in companies with enterprise values of $100 million to $750 million. The firm seeks to partner with strong management teams to build companies with sustainable competitive advantage and excellent prospects for growth. For more information, please visit www.charlesbank.com.
About M/C Partners
M/C Partners is a private equity firm focused exclusively on the communications, media, and information technology sectors. The firm has invested over $1.5 billion into nearly 100 companies in those sectors. Companies M/C has backed include Cavalier Telephone, Fusepoint, GTS Central Europe, ICG Communications, Involta, Legendary Pictures, Lightower, MetroPCS, NuVox, Open Mobile, and Zayo Group. The firm has strong institutional backing from the nation’s leading pension funds and endowments as well as a long track record of success. M/C Partners has offices in Boston and San Francisco. For more information, visit www.mcpartners.com.