Private Equity Firms Announce Two Major Exits
Private equity firm Gemspring Capital has completed the sale of commercial security provider Security 101 to funds managed by Morgan Stanley. Separately, TZP Group announced the sale of its portfolio company AtData, an email identity platform, to the credit reporting agency Experian.
- Gemspring Capital first acquired a majority interest in Security 101 in January 2022, executing a "buy and build" strategy that scaled the company into a national platform through disciplined acquisitions and geographic expansion. - The acquisition by Morgan Stanley Capital Partners signals a belief in the continued growth of the commercial security market; the new owners plan to further expand Security 101's national accounts program and pursue additional M&A opportunities. - The sale of AtData to Experian culminates a long-standing relationship, as the two companies had a highly collaborative partnership for 15 years prior to the acquisition. - AtData was formed in 2021 through the merger of two established email data companies, FreshAddress (founded in 1999) and TowerData (founded in 2001), with private equity firm TZP Group having first invested in a predecessor company in March 2018. - This is a strategic data acquisition for Experian, which gains access to AtData's database of over
