Frontline Managed Services Acquired by Broad Sky Partners: BV Investment Partners Exits
Deal News | Dec 13, 2024 | Ropes & Gray
BV Investment Partners has completed the sale of Frontline Managed Services to Broad Sky Partners. Frontline Managed Services is recognized as a leading global provider of managed services tailored specifically for the legal sector. The transaction was facilitated by Ropes & Gray, with financial terms remaining undisclosed. This strategic divestment marks another significant move by BV Investment Partners, a seasoned private equity firm with over 30 years of experience and approximately $5.5 billion invested in its target industries, which include tech-enabled business services and software. Ropes & Gray's representation team comprised several partners, covering areas such as private equity, tax, employment, and data privacy, showcasing its multi-disciplinary expertise.
Sectors
- Private Equity
- Managed Services
- Legal Services
Geography
- North America – BV Investment Partners is a North American private equity firm, and the transaction involves entities operating primarily within this geographical region.
Industry
- Private Equity – The article discusses a divestment by BV Investment Partners, a private equity firm, which is indicative of activity within the private equity sector.
- Managed Services – Frontline Managed Services, the company being sold, operates in the managed services industry, providing specialized services to the legal sector.
- Legal Services – Frontline Managed Services is specifically focused on providing managed services to the legal industry, indicating its relevance to this sector.
Financials
- Not Disclosed – The financial terms of the sale transaction between BV Investment Partners and Broad Sky Partners were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| BV Investment Partners | Selling Company | Company | A private equity firm with a history of investing in tech-enabled business services, software, and IT services industries. |
| Frontline Managed Services | Target Company | Company | A major provider of managed services specifically for the legal industry, recently sold to Broad Sky Partners. |
| Broad Sky Partners | Bidding Company | Company | An investment firm that acquired Frontline Managed Services from BV Investment Partners. |
| Ropes & Gray | Legal Advisor | Company | A law firm that represented BV Investment Partners in the sale transaction of Frontline Managed Services. |
| Tim Castelli | Private Equity Partner | Person | A partner at Ropes & Gray involved in the transaction. |
| Andrew Pomranke | Private Equity Partner | Person | A partner at Ropes & Gray involved in the transaction. |
| Aaron Harsh | Tax Partner | Person | A tax partner at Ropes & Gray who was part of the transaction advisory team. |
| Jennifer Cormier | Employment Partner | Person | An employment partner at Ropes & Gray who contributed to the transaction. |
| Ed McNicholas | Data, Privacy & Cybersecurity Partner | Person | A partner specializing in data, privacy, and cybersecurity at Ropes & Gray who was involved in the transaction. |