M&A Deal Summary

Cast & Crew Acquires Backstage

On February 1, 2022, Cast & Crew acquired internet software and services company Backstage from TA Associates and Audax Private Debt

Acquisition Highlights
  • This is Cast & Crew’s 1st transaction in the Internet Software and Services sector.
  • This is Cast & Crew’s 6th transaction in the United States.
  • This is Cast & Crew’s 1st transaction in New York.

M&A Deal Summary
Date 2022-02-01
Target Backstage
Sector Internet Software and Services
Buyer(s) Cast & Crew
Sellers(s) TA Associates
Audax Private Debt
Deal Type Add-on Acquisition
Advisor(s) Moelis & Co. (Financial)
Goodwin Procter (Legal)

Target

Backstage

Brooklyn, New York, United States
website
Backstage is an operator of a professional platform that connects actors, singers, dancers, comedians, voiceover artists, variety performers, and crew members with gigs and works with casting directors and content creators to help them find top industry talent. Backstage was founded in 1960 and is based in Brooklyn, New York.

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Buyer(S) 1

Buyer

Cast & Crew

Burbank, California, United States

website

Category Company
Founded 1976
Sector Software
DESCRIPTION

Cast & Crew is a provider of software and services to the entertainment production industry. Cast & Crew's software products and services assist in the areas of payroll & human resources, accounting & financial, and workflow & productivity. Cast & Crew was founded in 1976 and is based in Burbank, California.

DEAL STATS #
Overall 8 of 8
Sector (Internet Software and Services) 1 of 1
Type (Add-on Acquisition) 8 of 8
State (New York) 1 of 1
Country (United States) 6 of 6
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-18 Team

Burbank, California, United States

Team provides a comprehensive suite of payroll, production management, and business affairs solutions to assist in the conception, production, and execution of advertising and entertainment projects ranging from commercial video content and fashion photography to music recording and concert tours. Team was founded in 1992 and is based in Burbank, California.

Buy -

Seller(S) 2

SELLER

TA Associates

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1968
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TA Associates is a private equity firm that targets investments in middle-market and large companies around the world. TA will consider control or minority investments in profitable companies and looks to commit between $70 and $500 million per transaction. TA proactively reaches out to companies directly in sourcing potential investment opportunities. Prospective businesses are generally valued between $100 million and $3 billion. Areas of interest include technology, software, communications, financial services, healthcare, business services, semiconductors/electronics, and consumer products/services. In addition to investing equity capital, TA also makes subordinated debt investments. TA's geographic preference is North America, Asia/Pacific, and Europe. TA Associates was formed in 1968 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 247 of 252
Sector (Internet Software and Services) 14 of 14
Type (Add-on Acquisition) 127 of 129
State (New York) 17 of 17
Country (United States) 203 of 206
Year (2022) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-11 Chaos

Sofia, Bulgaria

Chaos is a provider of computer graphics technology, empowering artists and designers to create photorealistic imagery and animation across all creative industries. Chaos develops 3D rendering and simulation software that is used daily by top design studios, architectural firms, advertising agencies, and visual effects companies around the globe. Chaos was formed in 1997 and is based in Sofia, Bulgaria.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-24 PrimeRx

Syosset, New York, United States

PrimeRx is a provider of pharmacy management software. The Company’s software and services enable pharmacists to manage all clinical and operational aspects of their business including prescription management, point-of-sale, signature capture and document and inventory management. PrimeRx is based in Syosset, New York.

Buy -
SELLER

Audax Private Debt

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 5.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Mezzanine is the mezzanine finance arm of the Audax Group. The Firm focuses on investing in both private and public, US-based middle market companies with a strong history of cash flows and consistent revenue growth. Audax will consider subordinated mezzanine debt commitments, second lien or junior secured debt, preferred stock and common stock. The Firm seeks to invest in companies valued between $10 and $60 million. Types of transaction include MBOs, LBOs, growth capital financings, acquisition financings, and recapitalizations.

DEAL STATS #
Overall 50 of 51
Sector (Internet Software and Services) 1 of 1
Type (Add-on Acquisition) 19 of 19
State (New York) 4 of 4
Country (United States) 50 of 51
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-19 Agape Care Group

Spartanburg, South Carolina, United States

Agape Care Group is a hospice, palliative, and pediatric comfort care provider expanding across the Southeast region. Agape Care Group was founded year 1997 and is based in Spartanburg, South Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-14 TriMech Solutions

Glen Allen, Virginia, United States

TriMech Solutions is a provider of computer-aided design and engineering software, additive and subtractive manufacturing solutions, and associated training, consulting, implementation, and staff augmentation services to customers across a variety of industries. TriMech was founded in 1998 and is based in Glen Allen, Virginia.

Buy -
Mergr

Product

Company

Legal