Deutsche Bank Securities served as left lead arranger on the debt financing to support middle market private equity firm HGGC’s acquisition of Monotype Imaging Holdings.
HGGC acquired all of the outstanding shares of Monotype for $19.85 per share in cash, representing an aggregate equity value of approximately $825 million.
“We are pleased to reach this significant milestone at Monotype, which enables us to continue building on our strategy of maximizing customer engagement in today’s digital, mobile and global landscape,” said Scott Landers, president and CEO of Monotype. “As a private company with HGGC’s deep sector knowledge and operational insight, we look forward to delivering more value and a better experience for our customers as we continue to address the needs of thousands of brands and millions of creative professionals worldwide.”_x000D_
Rich Lawson, CEO and co-founder at HGGC, said, “Today marks the beginning of the next exciting chapter for Monotype. The company’s world-class culture and unique combination of design and technology perfectly position it to succeed in an evolving and demanding market. Through our partnership, we will look to further Monotype’s industry-leading reputation by pushing boundaries with next-generation font technology and creative, customer-centric solutions.”
The transaction was announced on July 25, 2019, and received approval from Monotype’s stockholders on October 9, 2019. As a result of the transaction completion, Monotype is now a privately held company, and its common stock has ceased trading on the NASDAQ Stock Market as of market close on October 10, 2019.
Deutsche Bank Securities also served as exclusive financial advisor to HGGC on the transaction, while Kirkland & Ellis served as its legal counsel. J.P. Morgan served as exclusive financial advisor and Goodwin Procter as legal counsel to Monotype.
Monotype specializes in digital typesetting and typeface design for various brand use.
