Charlesbank Capital Partners and M/C Partners announced they have closed their acquisition of the IT Outsourcing business of Acxiom. Webster M/C Partners is a private equity firm focused exclusively on the communications, media, and information technology sectors. Bank’s TMT practice was said to have provided financing for the transaction.
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.
Goodwin Procter served as the legal advisor for the buyers.
Acxiom is an enterprise data, analytics and software-as-a-service company that uniquely fuses trust, experience and scale to fuel data-driven results.
Boston and New York-based Charlesbank Capital Partners is a middle-market private equity investment firm managing more than $3 billion of capital.
M/C Partners is a private equity firm focused exclusively on the communications, media, and information technology sectors.