William Blair Closes TDX Deal
Its 22nd Cross-border Deal
in 12 Months
Mark Onyett, TDX Group's chief executive, said in a recent press release, "Our partnership with Investcorp marks a new phase in our development. As well as bringing market insight and additional financial strength, Investcorp shares our ambitious vision of how to expand the company both in its core U.K. market as well as internationally. To attract a partner of Investcorp's calibre underscores the strength of our business model and management team."
TDX Group Ltd. (TDX or the company) is a leading multinational provider of proprietary analytics-based arrears management solutions for defaulted consumer debt. Established in 2004, the company's innovation and category-defining expertise have allowed TDX both to become the U.K. market leader and to expand into Europe, delivering its services in more than 10 countries. The company serves a unique intermediary position between its clients (e.g., banks, utilities, public sector entities, and investment groups that own debt portfolios) and servicers of defaulted debt (e.g., collection agencies, debt purchasers, and insolvency practitioners). Having developed technology-enabled, world-class arrears management delivery platforms, TDX enjoys a significant competitive advantage through its visibility into defaulted debt liquidation trends and pricing, and market participants' behaviors and appetites.
Investcorp Technology Partners, the technology private-equity arm of alternative investment manager Investcorp, is an experienced sponsor of growth-oriented investments in the technology sector. It invests in small to midsize technology-driven businesses in the United States and Europe, using a variety of transaction types. Currently, the team manages three funds with total commitments of more than $1 billion.
William Blair & Company was engaged to explore certain strategic alternatives, including a minority investment in TDX. The William Blair & Company investment banking team worked closely with the shareholders and senior management of TDX in all aspects of the transaction, including developing a descriptive memorandum and management presentation, coordinating the due diligence process, and negotiating the terms of the transaction.
