M&A Deal Summary

Madison Dearborn Partners Acquires InMoment

On May 15, 2019, private equity firm Madison Dearborn Partners acquired internet software and services company InMoment from Sorenson Capital and Peterson Partners

Acquisition Highlights
  • This is Madison Dearborn Partners’ 4th transaction in the Internet Software and Services sector.
  • This is Madison Dearborn Partners’ 69th transaction in the United States.
  • This is Madison Dearborn Partners’ 2nd transaction in Utah.

M&A Deal Summary
Date 2019-05-15
Target InMoment
Sector Internet Software and Services
Buyer(s) Madison Dearborn Partners
Sellers(s) Sorenson Capital
Peterson Partners
Deal Type Secondary Buyout
Advisor(s) Union Square Advisors LLC (Financial)
DLA Piper (Legal)

Target

InMoment

Salt Lake City, Utah, United States
website
InMoment is a cloud-based customer experience (CX) optimization platform. InMoment’s cloud-native XI Platform is engineered with data science at the core, and specifically architected to harness intelligence from across the entire experience ecosystem to deliver clear business value. InMoment was founded in 2002 and is based in Salt Lake City, Utah.

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Buyer(S) 1

Buyer

Madison Dearborn Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1992
PE ASSETS 28.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Madison Dearborn Partners (MDP) is a large private equity firm that targets buyouts of private or publicly held companies, divestitures of larger companies, recapitalizations of family-owned or closely-held companies, acquisition-oriented financings, and financings to fund internal growth. MDP's target investment size is $100 to $600 million in buyout oriented transactions and $100 to $400 million in growth capital commitments. Areas of interest include basic industries (natural resources, chemicals, energy and power, automotive, building products, food, metals and mining, refining, paper, packaging and forest products, and general manufacturing), as well as communications, consumer products/services, financial services, and healthcare. Madison Dearborn Partners was formed in 1992 and is based in Chicago, Illinois.

DEAL STATS #
Overall 81 of 97
Sector (Internet Software and Services) 4 of 5
Type (Secondary Buyout) 16 of 19
State (Utah) 2 of 2
Country (United States) 69 of 83
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-29 Lightspeed Systems

Austin, Texas, United States

Lightspeed Systems is an education technology solutions provider partnering with schools to make learning safe, mobile, and easily managed. Partnered with 6,500 districts in United States and 28,000 schools around the world, the company offers integrated filtering, management, monitoring, and protection for schools through its groundbreaking platform, Relay. Lightspeed Systems was founded in 1999 and is based in Austin, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-25 Univision

New York, New York, United States

Univision entertains, informs, and empowers U.S. Hispanics with news, sports, and entertainment content across broadcast and cable television, audio, and digital platforms. The company’s top-rated media portfolio includes the Univision and UniMás broadcast networks, as well as cable networks Galavisión and TUDN, the No. 1 Spanish-language sports network in the country. Locally, Univision owns or operates 65 television stations in major U.S. Hispanic markets and Puerto Rico. Additionally, Uforia, the Home of Latin Music, encompasses 58 owned or operated radio stations, plus 89 affiliates, a live event series, and a robust digital audio footprint. Univision was formed in 1992 and is based in New York, New York.

Sell -

Seller(S) 2

SELLER

Sorenson Capital

Lehi, Utah, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2003
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Sorenson Capital is a private equity firm that seeks to support buyout and growth capital financings of lower middle-market companies. Sorenson invests across a broad range of industries and generally pursues companies with significant market share, high barriers to entry, fragmented industry competition, motivated managment, and sustainable pricing and profit margins. Target businesses typically have sales of $30 to $300 million with earnings of $3 to $25 million. Sorenson's geographic preference is for opportunities in the Mountain West and West Coast regions of the US. Sorenson raised its inaugural fund in 2004 and is based in Salt Lake City, Utah.

DEAL STATS #
Overall 19 of 29
Sector (Internet Software and Services) 4 of 6
Type (Secondary Buyout) 4 of 6
State (Utah) 10 of 13
Country (United States) 18 of 28
Year (2019) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-18 Axiom Materials

Santa Ana, California, United States

Axiom Materials, Inc. is a manufacturer of proprietary advanced composite materials and related products for customers in the aerospace & defense, industrial, automotive, medical device, and electronics industries. The Company provides customized, mission-critical products that are characterized by lightweight, durable, and temperature-resistant properties to over 300 customers.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-16 Fastly

San Francisco, California, United States

Fastly is a content delivery company. Fastly’s edge cloud platform enables customers to create great digital experiences quickly, securely, and reliably by processing, serving, and securing our customers’ applications as close to their end-users as possible at the edge of the internet. The platform is designed to take advantage of the modern internet, to be programmable, and to support agile software development. Fastly was founded in 2011 and is based in San Francisco, California.

Sell -
SELLER

Peterson Partners

Salt Lake City, Utah, United States

Investor Investor Investor Investor Investor

website

Category Asset Manager
Founded 1995
PE ASSETS 350M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Peterson Partners is a private equity firm that targets investments in lower middle-market growth companies located in the Western US. Peterson looks to commit between $5 and $25 million of equity in companies generating sales of at least $5 million. Sectors of interest include consumer products and services, business services, and manufacturing. Peterson Partners was formed in 1995 and is based in Salt Lake City, Utah.

DEAL STATS #
Overall 26 of 31
Sector (Internet Software and Services) 1 of 1
Type (Secondary Buyout) 10 of 11
State (Utah) 9 of 11
Country (United States) 24 of 28
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-31 Rails

Vernon, California, United States

Rails is a designer, manufacturer, and retailer of premium contemporary apparel for women and men. Rails was established in 2008 and is based in Vernon, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-09 Cleo

Rockford, Illinois, United States

Cleo is an ecosystem integration software company whose solutions simplify the movement and integration of critical B2B enterprise data, thereby enabling business agility and business flow visibility. The Cleo Integration Cloud (CIC) is a cloud-based platform that brings end-to-end integration visibility across API, EDI, and non-EDI integrations and gives technical and business users the confidence and capability to rapidly onboard trading partners, enable integration between applications, and accelerate revenue-generating business processes. Cleo was established in 1976 and is based in Rockford, Illinois.

Sell -
Mergr

Product

Company

Legal