M&A Deal Summary

Iron Creek Partners and Main Street Capital Acquire CAI

On October 15, 2014, private equity firms Iron Creek Partners and Main Street Capital acquired software company CAI

Acquisition Highlights
  • This is Iron Creek Partners’ 3rd and Main Street Capital’s 6th transaction in the Software sector.
  • This is Iron Creek Partners’ 4th and Main Street Capital’s 72nd transaction in the United States.
  • This is Iron Creek Partners’ 1st and Main Street Capital’s 1st transaction in Rhode Island.
Investment Fate
  • CAI was sold to a consortium of financial buyers in 2021.

M&A Deal Summary

Date 2014-10-15
Target CAI
Sector Software
Buyer(s) Iron Creek Partners
Main Street Capital
Deal Type Recapitalization

Target

CAI

Smithfield, Rhode Island, United States
website
CAI is a provider of specialized enterprise resource planning (ERP) software with industry expertise in several industry sectors, including seafood and other food processing and distribution, lumber and building materials, precious metal refining, and jewelry manufacturing. CAI was founded in 1977 and is based in Smithfield, Rhode Island.

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Buyer(S) 2

DESCRIPTION

Iron Creek Partners is a private investment partnership focused on partnering with management teams to pursue divestitures, fundless sponsor acquisitions, and select public market investments. Iron Creek Partners was formed in 2009 and is headquartered in Santa Fe, New Mexico.


DEAL STATS #
Overall 4 of 10
Sector (Software) 3 of 5
Type (Recapitalization) 1 of 6
State (Rhode Island) 1 of 1
Country (United States) 4 of 10
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-24 Inventus Solutions

Chicago, Illinois, United States

Inventus Solutions, Inc. is a provider of eDiscovery and litigation support services focused on streamlining data processing and review via a suite of bundled, best-of-breed technologies.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-15 Inventus Solutions

Chicago, Illinois, United States

Inventus Solutions, Inc. is a provider of eDiscovery and litigation support services focused on streamlining data processing and review via a suite of bundled, best-of-breed technologies.

Sell $232M
Buyer

Main Street Capital

Houston, Texas, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1997
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Main Street Capital Holdings is a public investment firm that invests in mid-market companies to support ownership transitions, recapitalizations, strategic acquisitions, business expansion and other growth initiatives. Main Street looks for businesses opearting in basic industries with positive cash-flow and and defensible competitive advantages. Main Street generally invests $5 to $75 million in companies with $10 to $150 million of revenue and EBITDA of $3 to $20 million. Investments are usually in the form of term debt and/or direct equity. Main Street Capital Corporation was formed in 1997 and is based in Houston, Texas.


DEAL STATS #
Overall 72 of 136
Sector (Software) 6 of 9
Type (Recapitalization) 20 of 56
State (Rhode Island) 1 of 2
Country (United States) 72 of 136
Year (2014) 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-15 Spectrio

Oldsmar, Florida, United States

Spectrio is a provider of technology-enabled, customer engagement, and content management solutions, including digital signage, interactive kiosks, on-hold marketing, on-premise messaging & music, and Wi-Fi marketing. Spectrio's subscription-based model is underpinned by a large, proprietary content library including 10,000+ templates and 100,000+ pieces of customized, vertical-specific content delivered through a proprietary, cloud-based content management software platform that enables scalable, efficient deployment of brand-compliant content for its large, diverse, and location-based clients. Spectrio was founded in 2002 and is based in Oldsmar, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-21 East West Copolymer

Baton Rouge, Louisiana, United States

East West Copolymer LLC is a manufacturer and supplier of synthetic rubber to a broad base of customers across the industrial and tire markets. East West Copolymer is based in Baton Rouge, Louisiana.

Buy -