Battea Class Action Services Acquisition, Valuation, Funding & Investors
Battea Class Action Services was acquired by SS&C Technologies for $670M in September 2024.
Cumulative funding Battea Class Action Services raised
$100M
across 1 funding round
Key investors in Battea Class Action Services
TowerBrook Capital Partners
About Battea Class Action Services
Battea Class Action Services is a provider of securities litigation claims administration for institutional investors. New York-headquartered, it processes recoveries from over 1,500 class actions annually using proprietary software to match holdings against settlement distributions. The firm serves hedge funds, pension plans, and asset managers with holdings reconciliation against custodians like BNY Mellon. Battea handles $ billions in claims, recovering over $15 billion since 2001 for clients worldwide.
Founded
2001
HQ
Stamford, CTWebsite
Status
Acquired
Customer focus
B2B
Revenue model
Services
Valuation
$670M (acquired Sep 2024)
Sectors
Battea Class Action Services Acquisition
Battea Class Action Services was acquired by SS&C Technologies for $670M on 12 September 2024.
Before the acquisition Battea Class Action Services had raised $100M across 1 funding round.
SS&C Technologies Holdings, Inc. acquired Battea-Class Action Services, LLC for approximately $670 million in a deal announced September 12, 2024 and completed September 30, 2024. Battea is a global leader in securities class action claims management and settlement recovery services, founded in 2001 and headquartered in Stamford, Connecticut. The company serves over 900 institutions worldwide including major banks, hedge funds, asset managers, and proprietary trading firms, operating a Claims Engine that monitors 700-800 active litigation cases and 340 settlements in payout, backed by a research library containing more than 8,000 historical cases. SS&C, a provider of software and services supporting financial services and healthcare operations, acquired Battea to expand its financial recovery capabilities and complement its multi-asset trade data aggregation platform with Battea's sophisticated analysis and litigation expertise. The acquisition adds comprehensive financial recovery services including litigation research and case tracking, data collection and processing, claims filing across multiple case types and instruments, results audit and remedial actions, and award processing and distribution. SS&C funded the $670 million purchase with a combination of debt and cash on hand, with the transaction expected to be accretive within 12 months. Battea's more than 100 employees based in Stamford, San Francisco, and Copenhagen joined SS&C GlobeOp as part of the transaction. Davis Polk & Wardwell LLP advised SS&C, while Keefe, Bruyette & Woods, Inc. served as exclusive financial advisor to Battea and Sidley Austin LLP served as Battea's legal counsel.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 12 Sep 2024 | Strategic M&A | $670M |
Battea Class Action Services Funding History
Battea Class Action Services has raised a total of $100M across 1 funding round.
Battea Class Action Services funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Nov 2021 | Undisclosed stage | TowerBrook Capital Partners (lead) | $100M | Battea-Class Action Services announced on 3 November 2021 a USD 100 million minority equity transaction with TowerBrook Capital Partners. The investment gave TowerBrook a minority position in the business while management retained control. Battea serves close to 1,000 global financial investment and trading institutions, analysing client trading activity, asserting claims and recovering losses arising from class, collective and opt-out settlements in securities and antitrust litigation. The company said it had expanded its global footprint through investment in transaction onboarding automation, transaction identification, loss modelling and audit and process tracking technology. Olshan Frome Wolosky advised Battea on the transaction. TowerBrook exited the position in September 2024 when Battea was sold to SS&C Technologies. |
Who has invested in Battea Class Action Services?
1 investor has backed Battea Class Action Services across its funding rounds, including TowerBrook Capital Partners.
Lead investors include TowerBrook Capital Partners.
Battea Class Action Services Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialBattea Class Action Services Competitors
Battea Class Action Services competitors include listed companies like IPH and Bengo4.com, and private ones like Trellis Research, Legal.io, Lawhive and General Counsel AI.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Los Angeles, CA | Private | - | - | $90M | - | |
| San Francisco, CA | Private | $24M | - | $52M | 2.2x | |
 London | Private | $35M | - | $685M | 19.6x | |
 Australia | Publicly listed | $505M | $140M | $606M | 1.7x | |
| San Francisco, CA | Private | $10M | - | $555M | 55.5x | |
 Japan | Publicly listed | $105M | $19M | $812M | 6.9x |
Battea Class Action Services Public Comps
Battea Class Action Services is no longer listed, but its public comps include IPH, Bengo4.com, LegalZoom, Keystone Law Group, Knights Group Holdings, Gateley, Shine Justice, Talenom, NAHL Group and Fondia.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $505M | $140M | 1.7x | 1.7x | 6.1x | 5.9x | |||
| $105M | $19M | 7.7x | 6.9x | 43.8x | 33.0x | |||
| $756M | $74M | 1.2x | 1.1x | 12.1x | 4.8x | |||
| $155M | $17M | 1.8x | 1.6x | 16.1x | 13.3x | |||
| $279M | $33M | 1.2x | 1.2x | 10.3x | 4.9x | |||
| $261M | $21M | 0.7x | 0.7x | 8.7x | 4.8x | |||
| $149M | $22M | 1.0x | 1.0x | 6.6x | 4.6x | |||
| $126M | $31M | 1.2x | 1.2x | 4.9x | 5.6x | |||
This data is available for Pro users. Sign up to see all Battea Class Action Services competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Battea Class Action Services
| When was Battea Class Action Services founded? | Battea Class Action Services was founded in 2001. |
| Where is Battea Class Action Services headquartered? | Battea Class Action Services is headquartered in Stamford, CT, United States. |
| Is Battea Class Action Services publicly listed? | No, Battea Class Action Services was acquired by SS&C Technologies in September 2024. |
| Who acquired Battea Class Action Services? | Battea Class Action Services was acquired by SS&C Technologies in September 2024. |
| How much was Battea Class Action Services acquired for? | Battea Class Action Services was acquired for $670M in September 2024. |
| How much funding has Battea Class Action Services raised? | Battea Class Action Services has raised $100M across 1 funding round. |
| What was Battea Class Action Services' last funding round? | Battea Class Action Services' last funding round was a $100M undisclosed-stage round in November 2021, led by TowerBrook Capital Partners. |
| Who are Battea Class Action Services' investors? | Battea Class Action Services' investors include TowerBrook Capital Partners. |
| Which companies are comparable to Battea Class Action Services? | Companies comparable to Battea Class Action Services include Trellis Research, Legal.io, Lawhive, IPH, General Counsel AI and Bengo4.com. |
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