http://sdrventures.com/

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2014 2015 2016 2017

3+

2

1

0

Date Target Buyer(s) SegmentAmount

($ in Mil)TEV/ Rev TEV/ EBITDA

12/18/2017 IWCO Direct, Inc. ModusLink Global Solutions, Inc. Marketing Services 476.00 1.01x 5.79x

11/28/17 Leapforce, Inc. Appen Ltd. Information Services 80.00 - -

11/21/2017 Contractors Equipment Center LLC H&E Equipment Services, Inc. Facility Services and

Industrial Services

122.40 3.60x -

11/1/2017 Digital Media Academy SEB Sistema Educacional Brasileiro Ltda. Education and Training 16.00 - -

10/27/2017 Tompkins Associates, Inc. Iowa China Investment Holdings Ltd. Specialty Consulting 250.00 - -

10/26/2017 Planet Payment, Inc. Fintrax Group Holdings Ltd. Business Process

Outsourcing

211.11 3.98x 15.81x

10/23/2017 CitizenHawk, Inc. Audax Private Equity Information Services 140.00 2.38x -

10/18/2017 The Warranty Group, Inc. Assurant, Inc. Professional Services 1,905.76 - -

10/16/2017 Avendra LLC Aramark Services, Inc. Business Process

Outsourcing

1,350.00 - -

10/13/2017 NeoSystems Corp. Novume Solutions, Inc. Business Process

Outsourcing

21.00 0.52x -

Strategic87%

Financial13%

10

32 29 24

12

51

-

8

40

27

-

10

20

30

40

50

60

Educationand Training

BusinessProcess

Outsourcing

FacilityServices and

IndustrialServices

HumanResources

InformationServices

MarketingServices

Real EstateServices

IT Services SpecialtyConsulting

ProfessionalServices

Strategic Buyer Inv. Date Select Corporate Acquisitions6/1/2017 ▪ Gary's Quality Pet Control, Inc.

3/9/2017 ▪ Exterm-A-Tech, Inc.

12/1/2016 ▪ Action Termite & Pest Control LLC

11/2/2016 ▪ Whitco Pest Management, Inc.

5/10/2016 ▪ Spencer Pest Services Co. Of South Carolina, Inc.

3/7/2016 ▪ Frye Exterminating Co., Inc.

1/21/2016 ▪ BugMaster Termite & Pest Control

1/5/2016 ▪ Universal Pest Control Inc.

9/6/2017 ▪ Interactive Broadband Consulting Group LLC

9/6/2017 ▪ Matter, Inc.

7/12/2017 ▪ clearhead Group LLC

6/7/2017 ▪ Phase One Consulting Group, Inc.

6/1/2017 ▪ LabAnswer Government LLC

4/12/2017 ▪ Beespath, Inc. (Closingbridge)

Sunbelt Rentals, Inc. 6/1/2017 ▪ MSP Equipment Rentals, Inc.

5/22/2017 ▪ RGR Equipment LLC

5/1/2017 ▪ Noble Rents, Inc. /Equipment Rental Operations/

4/26/2017 ▪ Van's Equipment Denver LLC

4/3/2017 ▪ Pride Equipment Corp.

1/17/2017 ▪ Arsenal Equipment Rentals, Inc.

9/15/2016 ▪ Tower Tech, Inc. (Rental Division)

6/6/2016 ▪ One Source Cooling LLC

Novume Solutions, Inc. 10/13/2017 ▪ NeoSystems Corp.

9/22/2017 ▪ Global Technical Services, Inc.

9/22/2017 ▪ Global Contract Professionals, Inc.

Advanced Disposal Services, Inc. 2/2/2017 ▪ CGS Services, Inc. (Indiana)

5/10/2016 ▪ Pete's Economy Hauling

5/5/2016 ▪ Arwood Waste, Inc., (Certain Accounts)

2/2/2016 ▪ Tatum Sanitation

1/4/2016 ▪ FDS Disposal, Inc.

Arrow Exterminators, Inc.

Accenture PLC

Financial Buyer Inv. Date Select Corporate Acquisitions8/28/2017 ▪ Bartlett Holdings, Inc.

7/31/2017 ▪ CDI Corp.

6/27/2017 ▪ Vortex Aviation, Inc.

CI Capital Partners LLC 9/7/2017 ▪ Delphic Digital LLC

8/3/2017 ▪ Performance Sales & Marketing

6/6/2017 ▪ Nature's Trees, Inc.

4/4/2017 ▪ Signature Specialty Sales & Marketing, Inc.

3/6/2017 ▪ Simplified Logistics LLC

12/5/2017 ▪ Alliance Life Sciences Consulting Group, Inc.

12/5/2017 ▪ Health Strategies Group, Inc.

2/13/2017 ▪ Pacific Federal LLC

9/29/2017 ▪ Emma, Inc.

4/20/2017 ▪ Spanning Cloud Apps LLC

4/18/2017 ▪ Teachers-Teachers.com, Inc.

12/20/2017 ▪ Liquid Environmental Solutions Corp.

10/23/2017 ▪ CitizenHawk, Inc.

7/10/2017 ▪ EnviroVac Holdings LLC

12/5/2017 ▪ Alliance Life Sciences Consulting Group, Inc.

12/5/2017 ▪ Health Strategies Group, Inc.

2/13/2017 ▪ Pacific Federal LLC

Water Street Healthcare Partners LLC

AE Industrial Partners LLC

Audax Private Equity

Genstar Capital LLC

Insight Venture Management LLC

Company Name SymbolMarket Cap

($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

Price/

EPS

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

Pearson Plc PSON-GB 7,993$ 9.96$ 20.3% -10.1% 0.981424 (5.7%) 6.3% 1.6x 6.5x NM 1.7x 11.2x

John Wiley & Sons, Inc. JW.A-US 3,743 65.75 22.9% 20.6% 98.3% 0.8% 26.4% 2.4x 10.4x 23.4x 2.4x 10.6x

Graham Holdings Co. GHC-US 2,583 558.35 -4.6% 9.1% 90.7% NM 11.1% 1.0x 6.1x 25.1x NM NM

Strayer Education, Inc. STRA-US 1,000 89.58 2.6% 11.1% 88.9% 5.6% 11.9% 1.9x 10.2x 25.6x 1.8x 9.0x

Capella Education Co. CPLA-US 903 77.40 10.3% -11.8% 78.0% 3.0% 17.4% 1.7x 8.6x 21.8x 1.7x 8.2x

Career Education Corp. CECO-US 835 12.08 16.3% 19.7% 86.8% (2.1%) 5.6% 1.1x 37.2x NM 1.1x NM

K12, Inc. LRN-US 657 15.90 -10.9% -7.3% 75.1% 3.0% 1.3% 0.6x 5.2x NM 0.6x 4.2x

GP Strategies Corp. GPX-US 389 23.20 -24.8% -18.9% 74.2% 6.8% 4.9% 0.9x 12.0x 19.5x 0.8x 8.9x

Bridgepoint Education, Inc. BPI-US 242 8.30 -13.5% -18.1% 52.4% (5.2%) 7.2% 0.1x 1.0x 48.8x 0.1x 1.2x

2.1% (0.6%) 82.5% 0.8% 10.2% 1.2x 10.8x 27.4x 1.3x 7.6x2.6% (7.3%) 86.8% 1.9% 7.2% 1.1x 8.6x 24.3x 1.4x 8.9x

Market Stats Operating Stats LTM Multiples NTM Multiples

-10.0%

-5.0%

0.0%

5.0%

10.0%

15.0%

Education & Training Facility Services and Industrial Services

Real Estate Services Specialty Consulting

-10.0%

-5.0%

0.0%

5.0%

10.0%

15.0%

Business Process Outsourcing Information Services Human Resources

Marketing Services IT Services S&P 500

Company Name SymbolMarket Cap

($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

Price/

EPS

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

Waste Management, Inc. WM-US 37,473$ 86.30$ 10.3% 21.7% 99.3% 4.2% 29.1% 3.3x 11.7x 27.7x 3.2x 11.3x

Republic Services, Inc. RSG-US 22,597 67.61 2.3% 18.5% 99.4% 5.6% 27.9% 3.1x 11.1x 28.6x 2.9x 10.5x

Waste Connections, Inc. WCN-US 18,739 70.94 1.4% 35.4% 95.6% 4.6% 32.0% 4.7x 16.2x 52.1x 4.6x 14.2x

Cintas Corp. CTAS-US 16,591 155.83 8.0% 34.8% 95.3% 10.2% 19.8% 3.2x 16.2x 35.3x 3.0x 14.5x

United Rentals, Inc. URI-US 14,529 171.91 23.9% 62.8% 98.6% 18.9% 47.0% 3.6x 7.9x 24.4x 3.1x 6.4x

Iron Mountain, Inc. IRM-US 10,617 37.73 -3.0% 16.2% 90.8% 3.7% 33.5% 4.5x 14.4x 47.8x 4.2x 12.4x

Aramark ARMK-US 10,496 42.74 5.2% 19.7% 96.9% 4.8% 9.4% 1.1x 11.7x 28.7x 1.0x 10.1x

Stericycle, Inc. SRCL-US 5,805 67.99 -5.1% -11.7% 77.3% 1.0% 23.4% 2.4x 10.5x NM 2.4x 10.1x

Clean Harbors, Inc. CLH-US 3,086 54.20 -4.4% -2.6% 88.0% 6.0% 16.3% 1.5x 10.4x 774.3x 1.4x 9.1x

ABM Industries, Inc. ABM-US 2,471 37.72 -9.6% -7.6% 83.6% 19.1% 4.0% 0.7x 18.1x 578.5x 0.5x 9.4x

UniFirst Corp. UNF-US 2,551 164.90 8.8% 14.8% 96.0% 2.4% 18.0% 1.7x 10.7x 44.3x 1.8x 11.1x

FirstService Corp. FSV-US 2,426 69.92 6.4% 47.3% 93.9% 10.8% 11.4% 1.6x 19.6x 56.8x 1.6x 16.1x

Covanta Holding Corp. CVA-US 2,214 16.90 13.8% 8.3% 97.7% 6.3% 22.4% 3.0x 16.6x NM 2.8x 11.0x

US Ecology, Inc. ECOL-US 1,114 51.00 -5.2% 3.8% 91.5% 9.1% 19.4% 2.8x 13.6x 42.5x 2.6x 10.9x

H&E Equipment Services, Inc. HEES-US 1,449 40.65 39.2% 74.8% 99.6% 6.4% 34.0% 2.3x 7.4x 39.9x 2.2x 6.9x

SP Plus Corp. SP-US 836 37.10 -6.1% 31.8% 89.9% (43.3%) 6.7% 0.6x 8.9x 19.4x 1.1x 9.9x

Casella Waste Systems, Inc. CWST-US 945 23.02 22.4% 85.5% 99.2% 2.1% 24.7% 2.4x 11.3x NM 2.4x 11.0x

Team, Inc. TISI-US 446 14.90 11.6% -62.0% 37.5% 4.9% (1.3%) 0.7x 54.3x NM 0.6x 8.2x

CECO Environmental Corp. CECE-US 178 5.13 -39.4% -63.2% 35.5% (1.9%) 7.3% 0.7x 7.1x NM 0.8x 6.3x

4.0% 20.3%4.9% 19.8%

Market Stats Operating Stats LTM Multiples NTM Multiples

Company Name SymbolMarket Cap

($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

Price/

EPS

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

Cognizant Technology Solutions Corp. CTSH-US 41,877$ 71.02$ -2.1% 26.8% 92.8% 12.0% 19.8% 2.6x 13.7x 22.0x 2.4x 11.4x

Wipro Ltd. 507685-IN 22,208 4.91 11.6% 32.2% 99.4% 5.6% 20.7% 2.3x 11.6x 18.1x 2.2x 10.7x

Convergys Corp. CVG-US 2,172 23.50 -9.2% -4.3% 88.1% (5.0%) 12.3% 0.8x 6.3x 18.1x 0.9x 7.2x

TTEC Holdings, Inc. TTEC-US 1,845 40.25 -3.6% 32.0% 92.0% 7.2% 12.1% 1.4x 10.3x 38.3x 1.3x 9.9x

Sykes Enterprises, Inc. SYKE-US 1,349 31.45 7.9% 9.0% 91.2% 5.3% 11.6% 0.8x 7.3x 19.7x 0.8x 6.7x

Virtusa Corp. VRTU-US 1,294 44.08 16.7% 75.5% 90.5% 20.1% 4.9% 1.5x 29.8x 62.1x 1.3x 14.1x

Unisys Corp. UIS-US 411 8.15 -4.1% -45.5% 53.4% 0.1% 9.4% 0.2x 1.7x NM 0.2x 1.2x

6.5% 13.0%5.6% 12.1%

Market Stats Operating Stats LTM Multiples NTM Multiples

Company Name SymbolMarket Cap

($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

Price/

EPS

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

Automatic Data Processing, Inc. ADP-US 51,973$ 117.19$ 7.2% 14.0% 96.2% 8.8% 20.8% 4.1x 18.9x 29.7x 3.8x 17.6x

ManpowerGroup, Inc. MAN-US 8,357 126.11 7.0% 41.9% 95.5% 9.6% 4.6% 0.4x 9.9x 18.9x 0.4x 9.4x

Robert Half International, Inc. RHI-US 6,962 55.54 10.3% 13.9% 96.3% 5.7% 11.2% 1.3x 11.5x 21.8x 1.2x 10.8x

51job, Inc. JOBS-US 3,759 60.85 0.4% 80.0% 92.4% 33.7% NM 7.4x 25.0x 89.8x 5.4x 14.5x

On Assignment, Inc. ASGN-US 3,343 64.27 19.7% 45.5% 97.8% 8.8% 11.5% 1.5x 14.6x 29.9x 1.4x 11.9x

WageWorks, Inc. WAGE-US 2,461 62.00 2.1% -14.5% 77.0% 13.9% 28.1% 3.9x 15.9x NM 3.5x 11.1x

TriNet Group, Inc. TNET-US 3,077 44.34 31.9% 73.1% 98.0% (74.7%) 8.8% 1.0x 13.3x 23.5x 4.1x 12.4x

Korn/Ferry International KFY-US 2,338 41.38 4.9% 40.6% 93.9% 2.4% 13.9% 1.4x 9.5x 20.3x 1.3x 8.5x

Insperity, Inc. NSP-US 2,391 57.35 30.3% 61.7% 95.0% 13.6% 4.3% 0.7x 15.7x 30.8x 0.6x 10.8x

Kelly Services, Inc. KELYA-US 1,048 27.27 8.7% 19.0% 88.2% 5.1% 1.8% 0.2x 10.8x 14.6x 0.2x 8.6x

TrueBlue, Inc. TBI-US 1,137 27.50 22.5% 11.6% 93.2% (0.5%) 6.1% 0.5x 9.6x 20.1x 0.5x 9.4x

Kforce, Inc. KFRC-US 668 25.25 25.0% 9.3% 93.7% 5.1% 5.6% 0.6x 11.3x 17.8x 0.5x 8.7x

Heidrick & Struggles International, Inc. HSII-US 461 24.55 16.1% 1.7% 90.6% (0.5%) 10.9% 0.6x 6.3x NM 0.6x 6.1x

ShiftPixy, Inc. PIXY-US 83 2.88 -2.4% NM 24.7% NM NM 3.8x NM NM NM NM

2.4% 10.6%5.7% 9.8%

Market Stats Operating Stats LTM Multiples NTM Multiples

Company Name SymbolMarket Cap

($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

Price/

EPS

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

S&P Global, Inc. SPGI-US 43,197$ 169.40$ 8.4% 57.5% 97.3% 7.4% 46.4% 7.8x 16.6x 24.9x 7.3x 15.0x

Thomson Reuters Corp. TRI-CA 31,116 43.73 -4.3% -6.8% 89.9% 1.3% 30.4% 3.2x 11.3x 30.4x 3.2x 10.4x

Moody's Corp. MCO-US 28,208 147.61 6.0% 56.6% 95.9% 13.1% 46.9% 8.3x 17.5x 52.2x 7.4x 15.5x

Experian Plc EXPN-GB 20,356 22.13 9.1% 3.9% 100.0% 2.9% 33.7% 5.2x 14.7x 24.8x 5.0x 14.2x

IHS Markit Ltd. INFO-US 18,024 45.15 2.4% 27.5% 93.0% NM NM 6.2x 19.8x NM 5.9x 14.8x

Verisk Analytics, Inc. VRSK-US 15,873 96.00 15.4% 18.3% 97.4% 10.7% 49.7% 8.9x 18.4x 34.9x 8.2x 16.7x

Equifax, Inc. EFX-US 14,160 117.92 11.3% -0.3% 80.2% 3.3% 30.3% 5.0x 13.8x 26.6x 4.9x 13.8x

Alliance Data Systems Corp. ADS-US 14,005 253.48 14.4% 10.9% 95.2% 15.3% 31.4% 4.5x 18.1x 26.8x 3.9x 14.9x

Gartner, Inc. IT-US 11,164 123.15 -1.0% 21.8% 94.7% 34.7% 9.0% 4.6x 36.9x NM 3.4x 16.6x

CoStar Group, Inc. CSGP-US 10,733 296.95 10.7% 57.5% 94.4% 18.2% 30.6% 11.2x 41.3x 89.7x 8.6x 24.7x

FactSet Research Systems, Inc. FDS-US 7,539 192.76 7.0% 17.9% 93.0% 9.1% 33.2% 6.2x 18.4x 29.1x 5.8x 17.1x

Fair Isaac Corp. FICO-US 4,594 153.20 9.0% 28.5% 95.8% 8.3% 27.6% 5.5x 23.4x 38.5x 5.4x 19.6x

Dun & Bradstreet Corp. DNB-US 4,376 118.41 1.7% -2.4% 94.3% 4.2% 28.3% 3.3x 11.4x 22.3x 3.1x 11.0x

CoreLogic, Inc. CLGX-US 3,807 46.21 0.0% 25.5% 93.7% 0.5% 22.5% 2.9x 13.4x 42.7x 3.0x 11.3x

Acxiom Corp. ACXM-US 2,185 27.56 11.9% 2.8% 90.7% 13.3% 13.7% 2.5x 20.3x NM 2.2x 10.3x

comScore, Inc. SCOR-US 1,632 28.50 -0.9% -9.8% 83.8% NM NM NM NM NM NM NM

Forrester Research, Inc. FORR-US 794 44.20 5.6% 2.9% 92.6% 5.6% 10.6% 2.0x 18.1x 42.5x 1.9x 13.9x

9.9% 29.6%8.3% 30.4%

Market Stats Operating Stats LTM Multiples NTM Multiples

Company Name SymbolMarket Cap

($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

Price/

EPS

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

WPP Plc WPP-GB 23,037$ 18.14$ -3.2% -26.2% 76.0% (5.2%) 13.1% 1.5x 9.1x 10.1x 1.5x 8.5x

Omnicom Group, Inc. OMC-US 16,790 72.83 -1.7% -14.4% 83.3% 3.4% 14.3% 1.3x 8.9x 14.5x 1.3x 8.5x

Publicis Groupe SA PUB-FR 15,668 68.03 -4.1% -13.6% 87.2% (2.1%) 15.9% 1.5x 7.6x NM 1.5x 8.4x

Interpublic Group of Cos., Inc. IPG-US 7,834 20.16 -3.0% -13.9% 78.4% 3.8% 13.7% 1.2x 8.6x 14.0x 1.2x 7.8x

UBM Plc UBM-GB 3,982 10.11 9.5% 2.1% 97.0% 6.8% 25.7% 3.8x 13.5x 34.8x 3.6x 11.6x

Ipsos SA IPS-FR 1,638 36.86 4.8% 2.9% 92.6% 2.3% 7.3% 1.0x 9.2x 15.8x 1.0x 8.6x

InnerWorkings, Inc. INWK-US 543 10.03 -10.8% 1.8% 83.4% 7.1% 5.3% 0.6x 11.9x NM 0.6x 8.9x

2.3% 13.6%3.4% 13.7%

Market Stats Operating Stats LTM Multiples NTM Multiples

Company Name SymbolMarket Cap

($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

Price/

EPS

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

CBRE Group, Inc. CBG-US 14,702$ 43.31$ 14.3% 37.5% 97.7% 9.5% 9.3% 1.3x 11.9x 18.7x 1.2x 9.8x

CoStar Group, Inc. CSGP-US 10,733 296.95 10.7% 57.5% 94.4% 18.2% 30.6% 11.2x 41.3x 89.7x 8.6x 24.7x

Jones Lang LaSalle, Inc. JLL-US 6,756 148.93 20.6% 47.4% 95.9% 7.0% 8.4% 1.1x 12.6x 19.9x 1.0x 10.8x

Realogy Holdings Corp. RLGY-US 3,567 26.50 -19.6% 3.0% 75.3% 5.5% 14.8% 1.1x 8.9x 16.0x 1.1x 9.2x

Kennedy-Wilson Holdings, Inc. KW-US 2,628 17.35 -6.5% -15.4% 76.6% (5.8%) 36.6% 10.4x 30.6x NM 10.1x 23.6x

Newmark Group, Inc. NMRK-US 2,156 15.90 NM NM 98.8% NM NM 1.9x 10.6x NM NM NM

Fang Holdings Ltd. SFUN-US 1,793 5.58 37.8% 70.1% 100.0% (4.7%) NM 3.8x NM NM 5.6x 17.3x

RE/MAX Holdings, Inc. RMAX 858 48.50 -23.7% -13.4% 71.9% NM NM 3.3x 7.4x NM 2.9x 5.5x

Altisource Portfolio Solutions SA ASPS 501 28.00 8.2% 5.3% 59.6% (11.2%) (2.2%) 0.8x 20.8x 215.4x 0.9x 8.5x

2.6% 16.2%5.5% 12.0%

Market Stats Operating Stats LTM Multiples NTM Multiples

Company Name SymbolMarket Cap

($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

Price/

EPS

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

International Business Machines Corp. IBM-US 142,035$ 153.42$ 5.7% -7.6% 83.9% 0.4% 20.6% 2.2x 11.8x 12.8x 2.3x 9.2x

Accenture Plc ACN-US 98,368 153.09 13.3% 30.7% 96.6% 3.4% 17.4% 2.5x 15.2x 27.1x 2.5x 14.4x

Cognizant Technology Solutions Corp. CTSH-US 41,877 71.02 -2.1% 26.8% 92.8% 12.0% 19.8% 2.6x 13.7x 22.0x 2.4x 11.4x

CGI Group, Inc. GIB.A-CA 13,890 54.51 5.6% 6.0% 99.2% 4.8% 18.6% 2.0x 12.2x 20.6x 2.0x 10.7x

Leidos Holdings, Inc. LDOS-US 9,768 64.57 9.0% 26.3% 98.3% 3.1% 10.6% 1.2x 12.2x 34.5x 1.2x 11.7x

Booz Allen Hamilton Holding Corp. BAH-US 5,560 38.13 2.0% 5.7% 96.1% 7.1% 9.2% 1.2x 12.4x 21.1x 1.1x 11.5x

EPAM Systems, Inc. EPAM-US 5,665 107.43 22.2% 67.1% 98.5% 28.9% 15.1% 3.8x 27.7x 45.3x 3.1x 17.0x

Teradata Corp. TDC-US 5,034 38.46 13.8% 41.6% 97.8% 0.6% 9.1% 2.0x 14.9x 78.5x 2.1x 11.9x

InterXion Holding NV INXN-US 4,203 58.93 15.7% 68.0% 99.5% 18.8% 42.4% 9.8x 21.9x 86.8x 7.9x 17.3x

CACI International, Inc. CACI-US 3,259 132.35 -5.0% 6.5% 89.8% 3.3% 7.9% 1.0x 11.9x 19.7x 1.0x 11.2x

Presidio, Inc. PSDO-US 1,911 19.17 35.5% NM 98.4% 7.2% 8.7% 1.0x 12.5x 96.6x 0.9x 10.6x

ManTech International Corp. MANT-US 1,295 50.19 13.7% 18.8% 94.2% 15.9% 7.3% 1.1x 14.5x 32.9x 0.9x 12.3x

Virtusa Corp. VRTU-US 1,294 44.08 16.7% 75.5% 90.5% 20.1% 4.9% 1.5x 29.8x 62.1x 1.3x 14.1x

The Hackett Group, Inc. HCKT-US 450 15.71 3.4% -11.0% 75.9% 3.7% 12.6% 1.6x 12.1x 20.9x 1.7x 9.7x

Unisys Corp. UIS-US 411 8.15 -4.1% -45.5% 53.4% 0.1% 9.4% 0.2x 1.7x NM 0.2x 1.2x

ServiceSource International, Inc. SREV-US 279 3.09 -10.7% -45.6% 51.1% 0.5% 3.9% 1.0x 167.4x NM 1.0x 11.0x

8.1% 13.6%4.2% 10.0%

Market Stats Operating Stats LTM Multiples NTM Multiples

Company Name SymbolMarket Cap

($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

Price/

EPS

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

Exponent, Inc. EXPO-US 1,835$ 71.10$ -3.8% 17.9% 92.2% 2.1% 23.8% 5.0x 22.1x 34.5x 5.1x 19.2x

FTI Consulting, Inc. FCN-US 1,631 42.96 21.1% -4.7% 94.1% 3.4% 12.8% 1.1x 11.5x 35.8x 1.0x 8.9x

ICF International, Inc. ICFI-US 979 52.50 -2.7% -4.9% 90.6% 5.7% 10.1% 1.0x 10.6x 20.9x 1.0x 9.7x

CBIZ, Inc. CBZ-US 847 15.45 -4.9% 12.8% 89.6% 6.1% 10.1% 1.2x 10.8x 19.2x 1.2x 9.6x

Navigant Consulting, Inc. NCI-US 891 19.41 14.7% -25.9% 73.4% (5.7%) 12.6% 1.0x 8.3x 20.6x 1.1x 7.6x

Huron Consulting Group, Inc. HURN-US 895 40.45 17.9% -20.1% 79.2% (5.0%) 10.8% 1.6x 13.0x NM 1.6x 11.2x

Resources Connection, Inc. RECN-US 465 15.45 11.2% -19.7% 78.0% 3.7% 9.5% 0.8x 11.1x 26.2x 0.8x 9.6x

10.2% 12.8%3.4% 10.8%

Market Stats Operating Stats LTM Multiples NTM Multiples

http://sdrventures.com/

Date Target Buyer(s) SegmentAmount

($ in Mil)TEV/ Rev

TEV/

EBITDA12/29/17 Empire Services LLC GI Manager LP Facility and Industrial - - -

12/27/17 Marketing Associates/USA, Inc. Vistra Communications LLC Marketing Services - - -

12/26/17 North American Crane Bureau, Inc. Probility Media Corp. Education and Training - - -

12/22/17 Magellan Search & Staffing, Inc. (Temporary Staffing Division) Diversified Staffing Group LLC Human Resources - - -

12/21/17 JWC Environmental LLC Sulzer AG Facility and Industrial - - -

12/21/17 The CTI Group Accuworx, Inc. Facility and Industrial - - -

12/21/17 Tikia Consulting Group, Inc. Kohlberg & Co. LLC Specialty Consulting - - -

12/21/17 PowerSites Media LLC Powersites Media LLC (Detar) Marketing Services - - -

12/20/17 Innovative Technology Solutions LLC Advanced Technology Services, Inc. IT Services - - -

12/20/17 Fortis Advisors LLC (PA) PNC Bank NA Specialty Consulting - - -

12/20/17 Hula Partners LLC GP Strategies Corp. Human Resources - - -

12/20/17 DWA media, Inc. Merkle Group, Inc. Marketing Services - - -

12/20/17 Liquid Environmental Solutions Corp. Audax Private Equity Facility and Industrial - - -

12/20/17 Blakely, Sokoloff, Taylor & Zapman LLP Womble Bond Dickinson (UK) LLP Professional Services - - -

12/19/17 Morningstar, Inc. (15(c) Board Consulting Service Business) Broadridge Financial Solutions, Inc. Specialty Consulting - - -

12/18/17 Janus Global Operations LLC DC Capital Partners LLC Specialty Consulting - - -

12/18/17 AGH WA LLC E-Debit Global Corp. Specialty Consulting 4.00 - -

12/18/17 IWCO Direct, Inc. ModusLink Global Solutions, Inc. Marketing Services 476.00 1.01x 5.79x

12/18/17 SolarBuyer LLC PI Photovoltaik-Institut Berlin AG Information Services - - -

12/18/17 Team Retail Solutions LLC Teall Investments LLC Marketing Services - - -

12/18/17 Genesis Security Systems LLC Convergint Technologies LLC Facility and Industrial - - -

12/17/17 LunaMetrics LLC Mountaingate Capital Management

LP

Education and Training - - -

12/15/17 Capital One National Association (Trust & Asset Mgmt Bus) Whitney Bank (Mississippi) Professional Services - - -

12/15/17 West Penn Non-Destructive Testing LLC MISTRAS Group, Inc. Facility and Industrial 74.00 - -

12/14/17 David & Goliath LLC Innocean Worldwide, Inc. Marketing Services 71.68 - -

12/14/17 Brown, Edwards & Co. LLP Gibbons & Kawash A.C. Professional Services - - -

12/14/17 Centaur Building Services, Inc. ATALIAN SAS Facility and Industrial - - -

12/14/17 Alexander Thompson Arnold PLLC Myriad CPA Group LLC Professional Services - - -

12/13/17 Implementation Management Assistance, Inc. Revint Solutions Specialty Consulting - - -

12/13/17 Zenith American Solutions, Inc. Beecken Petty O'Keefe & Co. LP Specialty Consulting - - -

12/13/17 Antkowiak Design Group, Inc. Chenega Corp. Marketing Services - - -

12/13/17 Acumen Security, LLC Intertek Group Plc Specialty Consulting - - -

12/12/17 S2K Financial Holdings LLC Colony NorthStar, Inc. Professional Services - - -

12/12/17 Ruggieri Consulting Group LLC OneDigital Health & Benefits Specialty Consulting - - -

12/12/17 Health Assets Management, Inc. Infinity Behavioral Health Services

LLC

BPO - - -

12/11/17 SMG Corp. Onex Partners Facility and Industrial - - -

12/11/17 Diamond Marketing Solutions Group, Inc. Output Services Group, Inc. Marketing Services - - -

12/8/17 DialogDirect, Inc. Qualfon SA de CV Marketing Services - - -

12/7/17 LKQD Technologies, Inc. Nexstar Media Group, Inc. Marketing Services 90.00 - -

12/7/17 Paragon Computer Professionals, Inc. CGI Group, Inc. Specialty Consulting - - -

12/7/17 ACTA, Inc. Advanced Core Concepts LLC Specialty Consulting - - -

12/7/17 Resolute Digital LLC CMGRP, Inc. Specialty Consulting - - -

12/6/17 GAP Solutions, Inc. System One Holdings LLC Specialty Consulting - - -

12/6/17 Knight Mechanical Testing LLC JTL America, Inc. Facility and Industrial - - -

12/5/17 Swirl, Inc. Dentsu McGarry Bowen LLC Marketing Services - - -

12/5/17 Alliance Life Sciences Consulting Group, Inc. Water Street Healthcare Partners LLC Specialty Consulting - - -

12/5/17 Health Strategies Group, Inc. Water Street Healthcare Partners LLC Specialty Consulting - - -

12/5/17 ABODA, Inc. Westbridge Capital Ltd. BPO - - -

12/4/17 Mckay & Carnahan, Inc. Cpa (Non-Attest Business) CBIZ, Inc. Professional Services - - -

12/4/17 Sandler & Travis Trade Advisory Services, Inc. United Parcel Service, Inc. BPO - - -

12/4/17 Royal Pest Solutions, Inc. Ecolab, Inc. Facility and Industrial - - -

12/4/17 Food Protection Services LLC Ecolab, Inc. BPO - - -

12/4/17 Research Fumigation Co. LLC Ecolab, Inc. Facility and Industrial - - -

12/3/17 Fyoosion, Inc. Grom Social Enterprises, Inc. Marketing Services 0.30 - -

12/1/17 Mitchell Actuarial Recruiting LLC McGrath Technical Staffing, Inc. Human Resources - - -

12/1/17 Intrepid Learning, Inc. VitalSource Technologies LLC Specialty Consulting - - -

12/1/17 Independent Technology Group LLC Huron Capital Partners LLC IT Services - - -

12/1/17 Sattell, Johnson, Appel & Co. SC Wipfli LLP/HFS Consultants Professional Services - - -

12/1/17 Staff One, Inc. Kelso & Co. LP Human Resources - - -

12/1/17 Philadelphia Processing, Inc. LTD Merchant Services LLC Specialty Consulting - - -

11/30/17 McDermott & Thomas Associates LLC Cook Maran & Associates, Inc. Specialty Consulting - - -

11/29/17 TORtec Group Geo Point Resources, Inc. Facility and Industrial 54.00 - -

11/29/17 Imageworks Display & Marketing Group, Inc. Gladstone Investment Corp. Marketing Services - - -

11/29/17 The Burchfield Group, Inc. Aon Plc Specialty Consulting - - -

11/29/17 PeopleNet Corp. Bullhorn, Inc. Human Resources - - -

Date Target Buyer(s) SegmentAmount

($ in Mil)TEV/ Rev

TEV/

EBITDA11/29/17 Labor Source LLC Great Range Capital LLC Human Resources - - -

11/28/17 Leapforce, Inc. Appen Ltd. Information Services 80.00 - -

11/28/17 Miller's Presort, Inc. Pitney Bowes, Inc. BPO - - -

11/28/17 Joyce Timpson & Associates, Inc. Ocean Investments LLC Marketing Services - - -

11/27/17 Summit Financial Corp. (Massachusetts) HUB International Ltd. Professional Services - - -

11/27/17 Auguri Corp. Element Data, Inc. IT Services - - -

11/27/17 United Biosource Holdings, Inc. Avista Capital Holdings LP BPO - - -

11/27/17 Barnett Cox & Associates Armanino LLP Marketing Services - - -

11/27/17 DZH Phillips LLP Squar Milner LLP Professional Services - - -

11/24/17 Canned Banners LLC Adacus LLC Marketing Services - - -

11/21/17 Momentum Specialized Staffing, Inc. AtWork Group LLC Human Resources - - -

11/21/17 Contractors Equipment Center LLC H&E Equipment Services, Inc. Facility and Industrial 122.40 3.60x -

11/20/17 Compaction & Recycling Equipment, Inc. Deep Green Waste & Recycling, Inc. Facility and Industrial - - -

11/20/17 Bridgepoint Consulting LLC Lake Capital Management LLC Specialty Consulting - - -

11/20/17 Warner Communications Millwright Holdings LLC Marketing Services - - -

11/20/17 Obscura Digital, Inc. The Madison Square Garden Co. Marketing Services - - -

11/20/17 Gladstone Law Group PA Gladstone Law Group PA

(Management)

Professional Services - - -

11/17/17 Nature Environmental & Marine Services LLC Ramky Enviro North America LLC Facility and Industrial 3.20 0.91x -

11/17/17 Howard L. Page & Co. LLC Shein, Cohen, Palmer & Co. LLC Professional Services - - -

11/16/17 Eccolo Media, Inc. Elevation Marketing LLC Marketing Services - - -

11/16/17 Steven Zelin CPA LLC Newman & Cohen CPA, P.C Professional Services - - -

11/15/17 MSCO Marketing MSCO Marketing (Management) Marketing Services - - -

11/15/17 Streetsense LLC CBRE Group, Inc. Marketing Services - - -

11/15/17 Payroll Strategies LLC Inova Payroll, Inc. Human Resources - - -

11/15/17 Hungry, Inc. Figliulo & Partners LLC Marketing Services - - -

11/15/17 Staicoff Design Co. Oculus, Inc. (Missouri) Facility and Industrial - - -

11/15/17 Sport Science LLC EPIC Brand Management Group LLC BPO - - -

11/15/17 EliteProNet, Inc. PlanHub, Inc. BPO - - -

11/15/17 General Code LLC International Code Council, Inc. BPO - - -

11/14/17 FactorTrust, Inc. TransUnion Information Services - - -

11/14/17 Whitney, Bradley & Brown, Inc. H.I.G. Capital LLC (Private Equity) Specialty Consulting - - -

11/14/17 Dial 800 LLC SwiftReach Networks, Inc. Specialty Consulting - - -

11/14/17 Korten Quality Systems Ltd. Day & Ross Transportation Group,

Inc.

Facility and Industrial - - -

11/14/17 UpperSolution.com Evershine Holdings Ltd. BPO 0.30 - NM

11/14/17 Riekes Container Corp. MJS Packaging BPO - - -

11/14/17 Central File, Inc. (Wisconsin) Anstadt Printing Corp. Marketing Services - - -

11/14/17 Vincent J. Muffoletto Bonadio & Co. LLP Professional Services - - -

11/13/17 Skye Unlimited, Inc. The Closing Exchange BPO - - -

11/13/17 Maguire & Fish, Inc. Apartment List, Inc. Human Resources - - -

11/13/17 PlowShare Group, Inc. Publicis Healthcare Communications

Group, Inc.

Marketing Services - - -

11/13/17 ERMC II LP SecurAmerica LLC Facility and Industrial - - -

11/12/17 Vaco Nashville LLC Olympus Advisors LLC Human Resources - - -

11/10/17 IS3D LLC LAZEL, Inc. Education and Training - - -

11/10/17 Primary Trade Solutions, Inc. Superbiz Barter Exchange BPO - - -

11/9/17 Bulldawg Marketing HMS Worldwide Properties LLC Specialty Consulting - - -

11/9/17 Helios Interactive Technologies, Inc. The Freeman Cos. BPO - - -

11/9/17 Unette Corp. Praxis Packaging Solutions LLC BPO - - -

11/9/17 Printed Image LLC Hot Frog Print Media LLC BPO - - -

11/9/17 PK Controls, Inc. Ohio Transmission Corp. Facility and Industrial - - -

11/8/17 Motif, Inc. TeleTech Holdings, Inc. BPO 51.90 - -

11/7/17 Schulman Associates Institutional Review Board, Inc. Linden Manager LLC Specialty Consulting - - -

11/7/17 BrandShop LLC Beringer Capital Specialty Consulting - - -

11/7/17 Paganini Biopharma, Inc. GreatPoint Ventures, Inc. Information Services - - -

11/7/17 DC Trash of Illinois, Inc. Lakeshore Recycling Systems LLC Facility and Industrial - - -

11/7/17 Riddle & Bloom Teall Investments LLC Specialty Consulting - - -

11/7/17 CorSource Technology Group, Inc. Corsource Technology Group, Inc.

(Management)

Human Resources - - -

11/7/17 Henvey CPA, LLC La Verdure & Associates, P.C. Professional Services - - -

11/2/17 Quorum Consulting, Inc. Navigant Consulting, Inc. Specialty Consulting - - -

11/2/17 SPR Atlanta LLC The Wilbert Group Marketing Services - - -

11/2/17 CAST Management Consultants, Inc. West Monroe Partners LLC Specialty Consulting - - -

11/2/17 Advanced Technical & Educational Consultants, Inc. L2 Defense, Inc. Education and Training - - -

11/2/17 Moku Collective LLC Digital Evolution Group LLC Specialty Consulting - - -

Date Target Buyer(s) SegmentAmount

($ in Mil)TEV/ Rev

TEV/

EBITDA11/2/17 Pokerscout.Com Catena Media plc Marketing Services 0.35 - -

11/2/17 Main Path, Inc. RelationEdge LLC Marketing Services - - -

11/1/17 Results Based Outsourcing, Inc. Results Based Outsourcing, Inc.

(Hansen)

BPO 0.19 - -

11/1/17 Berlin Ramos & Co. PA Cherry, Bekaert & Holland LLP Professional Services - - -

11/1/17 Evergreen Security, Inc. Bay Alarm Co. Facility and Industrial - - -

11/1/17 Accretive Solutions, Inc. Resources Connection, Inc. Specialty Consulting 37.51 - -

11/1/17 RiverPoint Solutions Group LLC Allant Group LLC Human Resources - - -

11/1/17 Graphic Matter, Inc. Baldwin & Obenauf Typography &

Art Services, Inc.

Marketing Services - - -

11/1/17 Code/Interactive Mouse, Inc. (New York) Education and Training - - -

11/1/17 Xcentric LLC Right Networks, LLC Specialty Consulting - - -

11/1/17 Kranz, Inc. Imperial Bag & Paper Co. LLC Facility and Industrial - - -

11/1/17 Ausley, Algert, Robertson & Flores LLP GoransonBain, PLLC Professional Services - - -

11/1/17 Closely, Inc. UpCurve, Inc. Marketing Services - - -

11/1/17 Security Products Co. LLC Convergint Technologies LLC Facility and Industrial - - -

11/1/17 Digital Media Academy SEB Sistema Educacional Brasileiro

Ltda.

Education and Training 16.00 - -

11/1/17 Transitions Digital Graphics LLC Sun Chemical Group Coöperatief UA Marketing Services - - -

11/1/17 HR Knowledge, Inc. ABRY Partners LLC Human Resources - - -

11/1/17 Bug Insights LLLP (Reward Analytics Offering) Deloitte Consulting LLP Human Resources - - -

11/1/17 Frasier, Dean & Howard PLLC Cherry, Bekaert & Holland LLP Professional Services - - -

11/1/17 Trotta Associates Marketlab Research, Inc. Marketing Services - - -

11/1/17 Gilberti Stinziano Heintz & Smith PC Barclay Damon LLP Professional Services - - -

11/1/17 Ecken & Smith PSC Strothman & Co. PSC Professional Services - - -

11/1/17 Lt Public Relations LLC Merit Marketing, Inc. (PA) Marketing Services - - -

10/31/17 SPROUT Content LLC Grady Enterprises, Inc. Marketing Services - - -

10/31/17 DBI Recycling LLC Industrial Container Services LLC Facility and Industrial - - -

10/31/17 OrionCKB LLC Elite SEM, Inc. Marketing Services - - -

10/31/17 Valley HealthCare Systems, Inc. TotalMed Staffing, Inc. Human Resources - - -

10/31/17 Harmison & Pearman PC Mcanany, Van Cleave & Phillips PA Professional Services - - -

10/30/17 North State Resources, Inc. (California) Stantec, Inc. Specialty Consulting - - -

10/30/17 Z Brand Group, Inc. Z Brand Group, Inc. (Lizik Jeff) Marketing Services - - -

10/30/17 MA3 Agency, Inc. Mazarine Partenaires SAS Marketing Services - - -

10/30/17 Roberts Communications, Inc. Partners & Napier, Inc. Marketing Services - - -

10/27/17 MACOM Technology Solutions Holdings, Inc. (Compute Business) The Carlyle Group LP IT Services 36.50 - -

10/27/17 Tompkins Associates, Inc. Iowa China Investment Holdings Ltd. Specialty Consulting 250.00 - -

10/26/17 Pirate Oilfield Services, Inc. Elite Group, Inc. Facility and Industrial - - -

10/26/17 Milestone Research Cro, Inc. Kester Capital LLP Information Services - - -

10/26/17 Planet Payment, Inc. Fintrax Group Holdings Ltd. BPO 211.11 3.98x 15.81x

10/26/17 Mobile Crossroads LLC MaxGroup Business Solutions LLC Marketing Services - - -

10/25/17 Total HR Management Morgan Stanley Global Private Equity Human Resources - - -

10/25/17 RPC CPAs + Consultants LLP Carr, Riggs & Ingram LLC Professional Services - - -

10/24/17 M&G Packing, Inc. HPC Acquisitions, Inc. BPO 0.85 - -

10/23/17 CitizenHawk, Inc. Audax Private Equity Information Services 140.00 2.38x -

10/23/17 TransMedia LLC iTeknik Holding Corp. Marketing Services - - -

10/23/17 Flatiron School, Inc. SoftBank Capital Partners LLC Education and Training - - -

10/23/17 C:DOX LLC Avalon Copy Centers of America, Inc. Professional Services - - -

10/23/17 Bluetext LLC Eastport Holdings, Inc. Marketing Services - - -

10/23/17 Hunter Group CPA LLC Sax LLP Professional Services - - -

10/23/17 Securable LLC KnowBe4, Inc. Education and Training - - -

10/20/17 Cirrus Medical Staffing LLC Webster Capital Ltd. Human Resources 39.39 - -

10/20/17 The Tech Info Group LLC Capitas Partners LLC IT Services - - -

10/19/17 Vigilant Personal Protection Systems Mace Security International, Inc. Marketing Services - - -

10/19/17 ymarketing LLC The Sandbox Group LLC Marketing Services - - -

10/18/17 The Warranty Group, Inc. Assurant, Inc. Professional Services 1,905.76 - -

10/18/17 Alford, Staples, Lapeyre, & Robichaux LLC Brown & Brown of Louisiana LLC Human Resources - - -

10/18/17 Agiliance, Inc. Resolver, Inc. Specialty Consulting - - -

10/18/17 mCare Solutions LLC VHC, Inc. BPO - - -

10/18/17 Mass Luminosity, Inc. Wheelhouse Marketing & PR Marketing Services - - -

10/18/17 Unesco, Inc. G3W Ventures LLC Specialty Consulting - - -

10/18/17 Microdynamics Group, Inc. Output Services Group, Inc. BPO - - -

10/17/17 Mid Atlantic Infrared Services, Inc. Predictive Service Corp. Information Services - - -

10/17/17 Social Reality Inc (SRAXmd business) Shareholders Marketing Services - - -

Date Target Buyer(s) SegmentAmount

($ in Mil)TEV/ Rev

TEV/

EBITDA10/17/17 ZOG Digital, Inc. Investis Ltd. Marketing Services - - -

10/17/17 Beyond Vigilant LLC CI Capital Partners LLC Marketing Services - - -

10/17/17 VLS Recovery Services LLC Aurora Capital Group LP Facility and Industrial - - -

10/17/17 Cycle Solutions, Inc. Wuxi PharmaTech (Cayman) Inc. Information Services - - -

10/17/17 Writesteps LLC VKidz, Inc. Education and Training - - -

10/17/17 Wilson Human Capital Group, Inc. Compass Partners Asset

Management LLC

Human Resources - - -

10/17/17 TGB Partnership LLP Levine Leichtman Capital Partners,

Inc.

Specialty Consulting - - -

10/16/17 Avendra LLC Aramark Services, Inc. BPO 1,350.00 - -

10/16/17 AudioHQ LLC Global Media & Entertainment Ltd. Marketing Services - - -

10/16/17 Informz, Inc. JMI Management, Inc. Marketing Services - - -

10/16/17 Real Magnet LLC JMI Management, Inc. Marketing Services - - -

10/16/17 Lincoln Press Corp. Rosenfield R H & Co. BPO - - -

10/16/17 MBR Intentional Marketing, Inc. Inmar, Inc. Marketing Services - - -

10/13/17 NeoSystems Corp. Novume Solutions, Inc. BPO 21.00 0.52x -

10/13/17 The Enviromart Cos. Eastone Equities LLC Information Services 0.33 - -

10/12/17 Survey Sampling International LLC Research Now Group, Inc. Information Services - - -

10/12/17 Meridian Finance Group Texel Finance Ltd. Professional Services - - -

10/11/17 HR 360, Inc. Aurora Capital Group LP Human Resources - - -

10/11/17 Congo Ltd. DigitalTown, Inc. Professional Services 1.10 - -

10/10/17 Progressive Employer Management Co., Inc. Morgan Stanley Global Private Equity Human Resources - - -

10/9/17 Tepel Brothers Printing Co. Vomela Specialty Co. BPO - - -

10/9/17 Verba Technologies LLC Verint Systems, Inc. IT Services - - -

10/6/17 Banyan Consulting Group, Inc. HarbourVest Partners LLC Specialty Consulting - - -

10/6/17 ConstructionReports.com, Inc. The Construction Journal Ltd. BPO - - -

10/6/17 Terracare Associates LLC One Rock Capital Partners LLC Facility and Industrial - - -

10/5/17 The Interactive Engineering Consortium, LLC. Avtex Solutions LLC IT Services - - -

10/4/17 Pursuit Healthcare Advisors LLC ATOS SE Specialty Consulting - - -

10/3/17 Mullin International LLC Lee Hecht Harrison LLC Human Resources - - -

10/3/17 IntegraCore LLC Visible Supply Chain Management

LLC

BPO - - -

10/3/17 AlphaGraphics, Inc. MBE Worldwide SpA Marketing Services 61.50 - -

10/3/17 Discover Biopharmaceutical Search & Placement The Tolan Group LLC Human Resources - - -

10/3/17 Deem, Inc. (Voyageur Platform) GroundWidgets BPO - - -

10/3/17 Arthur F. Bell, Jr. & Associates LLC Cohen & Co. Professional Services - - -

10/3/17 Brook & Whittle Ltd. Snow Phipps Group LLC BPO - - -

10/2/17 Associated Data Services, Inc. Asure Software, Inc. Human Resources - - -

10/2/17 Summit Financial Disclosure LLC Broadridge Financial Solutions, Inc. BPO 40.00 - -

10/2/17 SkySlope, Inc. Fidelity National Financial, Inc. Education and Training - - -

10/2/17 COBRA Administration & Health Services, Inc. BASIC BPO - - -

10/2/17 Pro-Line Inspections, Inc. The CapStreet Group LLC Facility and Industrial - - -

10/2/17 Rewards Network, Inc. TowerBrook Capital Partners LP Information Services - - -

10/2/17 Xebec Global Corp. Arlington Capital Partners LLC Specialty Consulting - - -

10/2/17 The Oliver Group LLC RVM Enterprises, Inc. Information Services - - -

10/2/17 Novati Technologies LLC Skorpios Technologies, Inc. IT Services - - -

10/1/17 Axis Benefit Consultants, Inc. GCG Financial LLC Specialty Consulting - - -