M&A Deal Summary

Ethos Capital Acquires Newforma

On April 3, 2023, growth capital firm Ethos Capital acquired software company Newforma from Battery Ventures

Acquisition Highlights
  • This is Ethos Capital’s 1st transaction in the Software sector.
  • This is Ethos Capital’s 3rd transaction in the United States.
  • This is Ethos Capital’s 1st transaction in New Hampshire.

M&A Deal Summary
Date 2023-04-03
Target Newforma
Sector Software
Buyer(s) Ethos Capital
Sellers(s) Battery Ventures
Deal Type Secondary Buyout
Advisor(s) Aeris Partners LLC (Financial)
Cooley LLP (Legal)

Target

Newforma

Manchester, New Hampshire, United States
website
Newforma develops, sells, and supports project information management (PIM) software for architecture, engineering, and construction firms worldwide, and the owners they serve. the company products make up the first industry-focused and integrated solution to connect firms to each other, to their project information, to their processes, and to remote team members, all for the purpose of more successful project delivery. Customers use Newforma software on more than 1.5 million projects worldwide to raise productivity, reduce exposure to risk, strengthen their brands, and liberate time and attention to focus on design, construction, and client service. Newforma was formed in 2003 and is based in Manchester, New Hampshire.

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Buyer(S) 1

Buyer

Ethos Capital

Investor Investor Investor Investor Investor

website

Category Growth Capital Firm
Size Small
Type Sector Focused
DESCRIPTION

Ethos Capital is a private investment firm that focuses on companies in which technology can be used to automate, optimize and transform traditional business models into faster growing, more efficient organizations. Ethos Capital is headquartered in New York City.

DEAL STATS #
Overall 4 of 4
Sector (Software) 1 of 1
Type (Secondary Buyout) 2 of 2
State (New Hampshire) 1 of 1
Country (United States) 3 of 3
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-22 Identity Digital

Bellevue, Washington, United States

Identity Digital is a domain name registry offering new domain names in multiple languages and character sets. Identity Digital simplifies and connects a fragmented online world with domain names and related technologies that allow people and businesses to build, market, and own their digital identities. Identity Digital was founded in 2010 and is based in Bellevue, Washington.

Buy -

Seller(S) 1

SELLER

Battery Ventures

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1983
PE ASSETS 13.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Battery Ventures is a private investment firm focused on opportunities in the technology and related-sectors. Battery will invest at all company stages, from seed and early-stage capital situations to leveraged buyouts, PIPEs, spin outs, rollups and take-privates of established companies. Battery's private equity group focuses on investments in companies with revenue of $20 to $200 million and EBITDA up to $25 million. Battery can commit up to $100 million in equity per transaction. Specific areas of interest include software; IT services and outsourcing; communications components, systems, and services; and financial services and tech-enabled businesses. Battery will consider investments throughout North America, Europe, and Asia. Battery Ventures was formed in 1983 and is headquartered in Menlo Park, California.

DEAL STATS #
Overall 57 of 59
Sector (Software) 20 of 22
Type (Secondary Buyout) 8 of 8
State (New Hampshire) 1 of 1
Country (United States) 46 of 47
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-20 LI-COR

Lincoln, Nebraska, United States

LI-COR engages in developing high-quality instrument systems used for plant research, gas analysis, drug discovery, protein research, and small animal imaging. LI-COR was founded in 1971 and is based in Lincoln, Nebraska.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-05 CodeSecure

Bethesda, Maryland, United States

CodeSecure is a global provider of application security testing (AST) solutions used to detect, measure, analyze and resolve vulnerabilities for software. CodeSecure products enable rapid DevSecOps deployments while also securing their software supply chains. CodeSecure has corporate headquarters in Bethesda, Maryland.

Buy -
Mergr

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