M&A Deal Summary

Level Equity Management and Aquiline Capital Partners Acquire Planet DDS

On August 1, 2019, private equity firms Level Equity Management and Aquiline Capital Partners acquired internet software and services company Planet DDS from District Line Partners

Acquisition Highlights
  • This is Level Equity Management’s 18th and Aquiline Capital Partners’ 6th transaction in the Internet Software and Services sector.
  • This is Level Equity Management’s 27th and Aquiline Capital Partners’ 33rd transaction in the United States.
  • This is Level Equity Management’s 7th and Aquiline Capital Partners’ 9th transaction in California.

M&A Deal Summary

Date 2019-08-01
Target Planet DDS
Sector Internet Software and Services
Buyer(s) Level Equity Management
Aquiline Capital Partners
Sellers(s) District Line Partners
Deal Type Secondary Buyout
Advisor(s) D.A. Davidson & Co. (Financial)

Target

Planet DDS

Newport Beach, California, United States
website
Planet DDS is a provider of proprietary dental Software-as-a-Service and Revenue Cycle Management services. Planet DDS, through its flagship product, Denticon, provides cloud-based dental practice management software. Planet DDS has been dedicated to providing individual dentists and multi-location dental groups with the software necessary to increase efficiencies and grow their practices while reducing IT spend and enhancing security. Planet DDS was founded in 2003 and is based in Newport Beach, California.

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Buyer(S) 2

Buyer
DESCRIPTION

Level Equity Management LLC is a private investment firm focused on providing equity and structured capital to growth businesses. Sectors of interest include e-commerce, healthcare services, IT, internet software, and media. Level Equity Management was formed in 2009 and is based in New York City.


DEAL STATS #
Overall 31 of 59
Sector (Internet Software and Services) 18 of 30
Type (Secondary Buyout) 3 of 9
State (California) 7 of 12
Country (United States) 27 of 49
Year (2019) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-30 BigTime Software

Chicago, Illinois, United States

BigTime Software develops practice management tools that help professional services firms track, manage, and invoice their time. BigTime's industry-specific solutions are designed to speak the language of consultants of all stripes, from engineering and architecture to IT services. BigTime Software was founded in 2002 and is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-30 Powell Software

Paris, France

Powell Software provides workforce collaboration software to enterprises in the Microsoft Office 365 and SharePoint ecosystems. Powell’s intranet in-a-box solution makes Office 365 and SharePoint more user-friendly and customizable. Powell Software was founded in 2015 and is based in Paris, France.

Buy -
Buyer

Aquiline Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2005
PE ASSETS 2.1B USD
Size Large
Type Sector Focused
DESCRIPTION

Aquiline Capital Partners is a private equity firm that targets investments in the financial services sector. The Firm specifically invests in risk-bearing and services enterprises in industries such as property and casualty insurance, specialty finance, securities, asset management, life insurance and transaction processing. Aquiline Capital was formed in 2005 and is based in New York City.


DEAL STATS #
Overall 45 of 68
Sector (Internet Software and Services) 6 of 11
Type (Secondary Buyout) 8 of 16
State (California) 9 of 12
Country (United States) 33 of 52
Year (2019) 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-24 CoAdvantage Payroll Tax Service

Tampa, Florida, United States

CoAdvantage Payroll Tax Service, Inc. engages in human resource solutions, providing Professional Employer Organization (PEO) services to small and medium-sized businesses nationwide. CoAdvantage specializes in and excels at handling human resources. CoAdvantage are HR experts who work as your outsourcing partner to administer payroll, benefits, workers’ compensation, and core HR functions. CoAdvantage Payroll Tax Service, Inc. was founded in 1990 and is based in Tampa, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-03 Unqork

New York, New York, United States

Unqork is the pioneer no-code enterprise application platform that helps large companies build, deploy, and manage complex applications without writing a single line of code. Companies use Unqork's drag-and-drop interface to build enterprise applications faster, with higher quality and lower costs than conventional approaches. Unqork was founded in 2017 and is based in New York City.

Buy -

Seller(S) 1

DESCRIPTION

District Line Partners is a search fund focused on acquiring a US-based profitable business with greater then $5 million in annual revenue. District Line does not have any strong sector preferences, but prefers businesses with recurring revenue, low cyclicality operating in a growing but fragmented industry. District Line Partners was established in 2013 and is headquartered in Washington DC.


DEAL STATS #
Overall 1 of 1
Sector (Internet Software and Services) 1 of 1
Type (Secondary Buyout) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-12 Planet DDS

Newport Beach, California, United States

Planet DDS is a provider of proprietary dental Software-as-a-Service and Revenue Cycle Management services. Planet DDS, through its flagship product, Denticon, provides cloud-based dental practice management software. Planet DDS has been dedicated to providing individual dentists and multi-location dental groups with the software necessary to increase efficiencies and grow their practices while reducing IT spend and enhancing security. Planet DDS was founded in 2003 and is based in Newport Beach, California.

Buy -