M&A Deal Summary

HgCapital Acquires GTreasury

On May 18, 2023, private equity firm HgCapital acquired software company GTreasury from Mainsail Partners

Acquisition Highlights
  • This is HgCapital’s 40th transaction in the Software sector.
  • This is HgCapital’s 14th transaction in the United States.
  • This is HgCapital’s 2nd transaction in Illinois.

M&A Deal Summary

Date 2023-05-18
Target GTreasury
Sector Software
Buyer(s) HgCapital
Sellers(s) Mainsail Partners
Deal Type Secondary Buyout
Advisor(s) Guggenheim Securities (Financial)
Wilson Sonsini Goodrich & Rosati (Legal)

Target

GTreasury

Buffalo Grove, Illinois, United States
website
GTreasury is a provider of treasury management software for organizations spanning the world. GTreasury’s solution illuminates a treasury’s liquidity by centralizing all incoming and outgoing banking activities, along with tracking all financial instrument activities. GTreasury was founded in 1986 and is based in Buffalo Grove, Illinois.

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Buyer(S) 1

Buyer

HgCapital

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2000
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HgCapital is a European private equity firm focused on a wide range of transactions including public-to-private leveraged buy-outs, management buy-ins, divestitures, and turnarounds. Broad sectors of interest include consumer and leisure, healthcare, industrials, services, technology, media, and renewable energy. The Firm will consider both majority and minority investment positions. HgCapital is the successor to Mercury Capital Partners, a former unit of Merill Lynch which was spun out by management in 2000. HgCapital has offices in London and Munich.


DEAL STATS #
Overall 136 of 138
Sector (Software) 40 of 41
Type (Secondary Buyout) 45 of 47
State (Illinois) 2 of 2
Country (United States) 14 of 14
Year (2023) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-12 Transporeon

Ulm, Germany

Transporeon is a provider of transportation logistics cloud platform allows manufacturers, retailers and carriers to fully digitize their transportation logistics processes. Transporeon was founded in 2000 and is based in Ulm, Germany.

Sell €1.9B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-05 Commify

Nottingham, United Kingdom

Commify is a provider of reliable software solutions for the sending and receipt of SMS messaging services and emailing to support new marketing and advertising opportunities. Commify was founded in 2002 and is based in Nottingham, United Kingdom.

Sell €300M

Seller(S) 1

SELLER

Mainsail Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor

website


Category Growth Capital Firm
Founded 2003
PE ASSETS 750M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Mainsail Partners is a private equity firm that principally targets investments in North American bootstrapped software companies with proven business models and long-term growth potential. Mainsail looks commit $10 to $75 million of equity capital per transaction in businesses generating annual revenues of $4 to $25 million. Mainsail Partners was formed in 2003 and is based in San Francisco.


DEAL STATS #
Overall 26 of 26
Sector (Software) 8 of 8
Type (Secondary Buyout) 5 of 5
State (Illinois) 1 of 1
Country (United States) 26 of 26
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-28 Instinct Science

Doylestown, Pennsylvania, United States

Instinct Science is a veterinary practice management software and workflow platform. Instinct Science suite of products power many of the industry’s university veterinary teaching centers and multispecialty/emergency advanced care centers. Instinct Science was founded in 2017 and is based in Doylestown, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-29 Red Oak Compliance Solutions

Cedar Park, Texas, United States

Red Oak Compliance Solutions is the global advertising review software serving financial services and insurance industries with over 1,800 firms globally, ranging from single-state advisors to over half of the top 20 asset managers. Their flagship advertising compliance review software offers quick implementation timelines and agile technology that is 100% Books and Records/WORM compliant. Red Oak Compliance Solutions is based in Cedar Park, Texas.

Buy -