M&A Deal Summary

InvestCloud Acquires Advicent Solutions

On May 5, 2021, InvestCloud acquired internet software and services company Advicent Solutions from Vista Equity Partners and Manulife Investment Management

Acquisition Highlights
  • This is InvestCloud’s 3rd transaction in the Internet Software and Services sector.
  • This is InvestCloud’s 2nd transaction in the United States.
  • This is InvestCloud’s 2nd transaction in Wisconsin.

M&A Deal Summary
Date 2021-05-05
Target Advicent Solutions
Sector Internet Software and Services
Buyer(s) InvestCloud
Sellers(s) Vista Equity Partners
Manulife Investment Management
Deal Type Add-on Acquisition

Target

Advicent Solutions

Milwaukee, Wisconsin, United States
website
Advicent Solutions is a provider of SaaS-based technology solutions for the financial advice and planning industry. Advicent Solutions’ products include web-enabled marketing communications, needs assessment, and financial planning tools, and are used by more than 250,000 financial professionals across more than 2,700 customers. Small and medium-sized businesses and some of the world’s largest financial institutions trust Advicent’s products to help grow their business. Advicent Solutions was founded in 1995 and is based in Milwaukee, Wisconsin.

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Buyer(S) 1

Buyer

InvestCloud

West Hollywood, California, United States

website

Category Company
Founded 2010
Sector Internet Software and Services
DESCRIPTION

InvestCloud is a global company specializing in digital platforms that enable the development of financial solutions, pre-integrated into the Cloud. The company offers on-demand client experiences and intuitive operations solutions using an ever-expanding library of modular apps, resulting in powerful products. InvestCloud has over 20 global offices including New York, London, Geneva, Singapore, and Sydney, supporting trillions in assets across hundreds of diverse clients – from the largest banks in the world to wealth managers, asset managers, and asset services companies. InvestCloud was founded in 2010 and is based in West Hollywood, California.

DEAL STATS #
Overall 5 of 5
Sector (Internet Software and Services) 3 of 3
Type (Add-on Acquisition) 3 of 3
State (Wisconsin) 2 of 2
Country (United States) 2 of 2
Year (2021) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-02 Tegra118

Brookfield, Wisconsin, United States

Tegra118 is a technology provider for key segments of the wealth and asset management industry. The company's scalable, integrated platform delivers mission-critical, end-to-end software solutions for the front, middle, and back-office. Tegra118 is based in Brookfield, Wisconsin.

Buy -

Seller(S) 2

SELLER

Vista Equity Partners

Austin, Texas, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2000
PE ASSETS 100.0B USD
Size Mega
Type Sector Focused
DESCRIPTION
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.

Vista Equity Partners is a mega-sized asset management firm focused on private equity, public equity, credit, and other strategies. The Firm's private equity group looks to invest in and acquire software and technology enabled services companies. Specific areas of interest include software, software-as-a-service (SaaS), technology-enabled business services, and technology-enabled information services. Vista can commit up to $700 million per transaction and will consider a variety transaction situations, including management/leveraged buyouts, growth or acquisition financings, recapitalizations or restructurings, spinouts, and take privates. Vista Equity Partners was formed in 2000 and is based in Austin, Texas.

DEAL STATS #
Overall 53 of 70
Sector (Internet Software and Services) 14 of 20
Type (Add-on Acquisition) 25 of 35
State (Wisconsin) 1 of 1
Country (United States) 49 of 65
Year (2021) 7 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-04 Zego

San Diego, California, United States

Zego is a payments technology and resident engagement platform for the residential real estate industry that unifies critical resident touchpoints into one app. The Company’s mobile-first platform delivers portfolio-wide efficiency, higher NOI and more engaged residents by seamlessly integrating payment, billing and utility expense management capabilities with a proprietary resident engagement and communication portal. Zego also provides smart home device functionality. Zego serves 6,000 residential real estate companies and over 12 million units nationwide. Zego was founded in 2003 and is based in San Diego, California.

Sell $925M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-17 DealerSocket

Irving, Texas, United States

DealerSocket is a provider of SaaS enterprise relationship management solutions for the retail and independent automotive industries. DealerSocket’s platform enables dealerships’ marketing, sales and automotive service departments to operate more effectively by helping them identify and track actionable sales leads, engage these leads through a number of channels, and streamline the sale, lease and service booking process. DealerSocket supports over 140,000 active users at more than 3,500 dealerships around the world. DealerSocket was founded in 2001 and is based in Irving, Texas.

Sell -
SELLER

Manulife Investment Management

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website

Category Mezzanine Finance Firm
Founded 1998
Size Large
Type Sector Agnostic
DESCRIPTION

Manulife Investment Management is a private investment group that provides mezzanine as well as non-controlling equity capital to middle-market businesses. Manulife Investment's target investment size is $10 to $50 million per transaction. The Group prefers opportunities located in the US. Manulife Investment Management was established in 1998 and maintains offices in Boston and New York City.

DEAL STATS #
Overall 15 of 18
Sector (Internet Software and Services) 1 of 1
Type (Add-on Acquisition) 5 of 7
State (Wisconsin) 1 of 1
Country (United States) 14 of 17
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-02 Compuware

Detroit, Michigan, United States

Compuware Corp. empowers the world’s largest companies to excel in the digital economy by taking full advantage of their mainframe investments. Compuware Corp. does this by delivering innovative software that enables IT, professionals, with mainstream skills to develop, deliver and support mainframe applications with ease and agility. Our modernized solutions uniquely automate mainframe work, integrate into a cross-platform DevOps toolchain and measure software delivery quality, velocity and efficiency.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-27 Waterfront Brands

Fergus Falls, Minnesota, United States

Waterfront Brands is a designer and manufacturer of premium watercraft lifts, docks, and related accessories. Under its three flagship brands, ShoreMaster, HydroHoist, and Neptune, Waterfront offers a complete product line-up to its more than 700 independent dealers and distributors across North America as well as sells direct-to-consumer through both retail locations and its eCommerce websites. Waterfront Brands is based in Fergus Falls, Minnesota.

Buy -
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