M&A Deal Summary

Insight Partners and Evergreen Coast Capital Acquire WorkForce Software

On April 23, 2014, venture capital firm Insight Partners and private equity firm Evergreen Coast Capital acquired software company WorkForce Software

Acquisition Highlights
  • This is Insight Partners’ 10th and Evergreen Coast Capital’s 1st transaction in the Software sector.
  • This is Insight Partners’ 15th and Evergreen Coast Capital’s 1st transaction in the United States.
  • This is Insight Partners’ 1st and Evergreen Coast Capital’s 1st transaction in Michigan.

M&A Deal Summary
Date 2014-04-23
Target WorkForce Software
Sector Software
Buyer(s) Insight Partners
Evergreen Coast Capital
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Lazard Ltd. (Financial)
Miller, Canfield, Paddock & Stone (Legal)

Target

WorkForce Software

Livonia, Michigan, United States
website
WorkForce Software provides enterprise clients with software solutions to manage employee time and labor schedules, control and manage employee absences, create employee schedules, and track employee compliance. WorkForce Software was founded in 1999 and is based in Livonia, Michigan.

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Buyer(S) 2

Buyer

Insight Partners

Investor Investor Investor Investor Investor

website

Category Venture Capital Firm
Founded 1995
PE ASSETS 80.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Insight Partners is a growth capital investment firm focused on early to later stage investments principally in the software sector. Insight Partners was formed in 1995 and is based in New York, New York.

DEAL STATS #
Overall 19 of 86
Sector (Software) 10 of 34
Type (Buyout (LBO, MBO, MBI)) 2 of 4
State (Michigan) 1 of 1
Country (United States) 15 of 69
Year (2014) 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-24 CarTrawler

Dublin, Ireland

CarTrawler is a technology company providing fully managed online car rental solutions to travel partners in 174 countries. Working across all travel industry segments and geographic markets, CarTrawler enables online travel retailers to add car rental to their portfolio of products and services, creating an additional revenue stream that requires no investment on their part. CarTrawler was formed in 2004 and is headquartered in Dublin, Ireland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-02 Turnitin

Oakland, California, United States

Turnitin is a provider of academic integrity and writing solutions and supports authentic work across the curriculum. Turnitin provides instructors with the tools to prevent plagiarism, engage students in the writing process, and provide personalized feedback. Turnitin was founded in 1997 and is based in Oakland, California.

Buy $752M
Buyer

Evergreen Coast Capital

Category Private Equity Firm
Size Small
Type Sector Agnostic
DESCRIPTION

Evergreen Coast Capital is a private equity firm that invests in a variety of industries and situations throughout the US. Evergreen Coast Capital is headquartered in Menlo Park, California.

DEAL STATS #
Overall 1 of 6
Sector (Software) 1 of 2
Type (Buyout (LBO, MBO, MBI)) 1 of 1
State (Michigan) 1 of 1
Country (United States) 1 of 5
Year (2014) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-12 athenahealth

Watertown, Massachusetts, United States

athenahealth is a provider of Internet-based business services for physician practices. The Company's service offerings are based on proprietary web-native practice management and electronic health record (EHR) software, a continuously updated payer knowledge-base, integrated back-office service operations, and live patient communications services. athenahealth was founded in 1997 and is based in Watertown, Massachusetts.

Buy $5.7B
Mergr

Product

Company

Legal