M&A Deal Summary

Stova Acquires Aventri

On January 10, 2022, Stova acquired internet software and services company Aventri from HGGC, First Analysis, Argentum Capital Partners and Level Equity Management

Acquisition Highlights
  • This is Stova’s 1st transaction in the Internet Software and Services sector.
  • This is Stova’s 1st transaction in the United States.
  • This is Stova’s 1st transaction in Connecticut.

M&A Deal Summary
Date 2022-01-10
Target Aventri
Sector Internet Software and Services
Buyer(s) Stova
Sellers(s) HGGC
First Analysis
Argentum Capital Partners
Level Equity Management
Deal Type Merger

Target

Aventri

Norwalk, Connecticut, United States
website
Aventri is a provider of cloud-based analytics and data-driven end-to-end event management and venue sourcing solutions. Open-source platform delivers innovative technology solutions to streamline the event process, providing real-time data and analytics on event performance, customer engagement, and increasing measurable event ROI. Aventri was formed in 2008 and is based in Norwalk, Connecticut.

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Buyer(S) 1

Buyer

Stova

Frederick, Maryland, United States

website

Category Company
Founded 2012
Sector Information Technology
DESCRIPTION

Stova is a technology company focused on creating innovative solutions for in-person, virtual, and hybrid events. With every meeting and event, Stova creates transformative experiences that enable their customers, attendees and sponsors to make valuable, face-to-face connections. Stova was formed in 2012 and is based in Frederick, Maryland.

DEAL STATS #
Overall 1 of 2
Sector (Internet Software and Services) 1 of 1
Type (Merger) 1 of 1
State (Connecticut) 1 of 1
Country (United States) 1 of 2
Year (2022) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-09 Eventcore

Seattle, Washington, United States

Eventcore is a nationally recognized event technology solution provider for virtual, in-person, and hybrid events. Eventcore platforms are fully customizable to fit the exact needs of your event. Eventcore is based in Seattle, Washington.

Buy -

Seller(S) 4

SELLER

HGGC

Palo Alto, California, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2007
PE ASSETS 6.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HGGC (formerly Huntsman Gay Global Capital) focuses on middle-market leveraged buyouts, growth equity financings, recapitalizations, take privates, and corporate divestitures. The Firm primarily targets North American companies, but will consider international opportunities as well. HGGC looks for companies with at least $100 million in revenue. HGGC primarily targets enterprise software companies, however, the Firm will also consider opportunities in business services, consumer services, financial services, healthcare, industrial services, and information services. HGGC was formed in 2007 and is based in Palo Alto, California.

DEAL STATS #
Overall 21 of 21
Sector (Internet Software and Services) 6 of 6
Type (Merger) 3 of 3
State (Connecticut) 1 of 1
Country (United States) 18 of 18
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-01 Waverly Advisors

Birmingham, Alabama, United States

Waverly Advisors is a fee-only registered investment adviser that serves the investment management and wealth planning needs of a diverse group of clients, including high-net-worth individuals and families, corporate retirement plans, trusts, endowments and institutions. Waverly Advisors was formed in 1999 and is based in Birmingham, Alabama.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-24 Entrata

Lehi, Utah, United States

Entrata provides software to the property management industry and is the only comprehensive property management software provider with a single-login, open-access platform as a service (PaaS) system. Offering a wide variety of online tools including websites, mobile apps, payments, lease signing, accounting, and resident management. Entrata was founded in 2003 and is based in Lehi, Utah.

Buy -
SELLER

First Analysis

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website

Category Venture Capital Firm
Founded 1981
PE ASSETS 800M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

First Analysis is a financial advisory and investment firm. First Analysis' private equity arm targets investments in growth companies at all stages of development. The Group looks for opportunities based primarily in the US and can commit up to $10 million of equity per transaction. Sectors of particular interest include outsourced services, (business/government services, education, environmental services, healthcare services, marketing services); information technology, (business integration, call centers, healthcare IT, network security, open source, sensor systems, transaction processing); and chemistry enabled businesses (advanced materials, chemicals, healthcare products, polymers, purification). First Analysis was formed in 1981 and is based in Chicago, Illinois.

DEAL STATS #
Overall 67 of 71
Sector (Internet Software and Services) 4 of 4
Type (Merger) 2 of 2
State (Connecticut) 2 of 2
Country (United States) 66 of 70
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-26 SmartWitness

Schaumburg, Illinois, United States

SmartWitness is a designer, manufacturer, and supplier of in-vehicle cameras, recorders, and software. The company's industry-major vehicle equipment has produced exceptional results for its clients and solutions that undeniably redefine the way vehicle risk is analyzed. SmartWitness was formed in 2007 and is based in Schaumburg, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-15 Insellerate

Newport Beach, California, United States

Insellerate is a marketing and sales engagement platform for the mortgage industry, that helps lenders close more loans through better borrower engagement. The company delivers dynamic technology, strategy, and content for every channel to ensure engagement throughout the borrower's journey. Insellerate integrates with the software powering lenders’ business today and into the future. It is a highly scalable, configurable, and modern platform that accelerates sales and generates repeat business. SOC 2 and SSAE 18 certified. Insellerate was formed in 2012 and is based in Newport Beach, California.

Buy -
SELLER

Argentum Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Growth Capital Firm
Founded 1988
PE ASSETS 400M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Argentum Capital Partners is a private equity firm focused on investing in small to mid-sized companies with proven business models and the ability to become market leaders. Prospective transaction situations include growth capital financing, management buyouts, platform acquisitions, and recapitalization. The firm typically takes minority positions, except in the case of management buyouts. Industry sectors of interest include business services, healthcare, and technology. Argentum generally prefers opportunities located in the Eastern US, but will consider companies across the US. Argentum Capital Partners was formed in 1988 and is based in New York City.

DEAL STATS #
Overall 39 of 43
Sector (Internet Software and Services) 5 of 6
Type (Merger) 2 of 2
State (Connecticut) 2 of 2
Country (United States) 37 of 41
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-12 Lender Price

Pasadena, California, United States

Lender Price is a developer of mortgage technology, including an advanced product, pricing, & eligibility (PPE) engine, digital lending point-of-sale (POS), and non-agency automated underwriting engine. Lender Price was founded in 2015 and is based in Pasadena, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-15 Insellerate

Newport Beach, California, United States

Insellerate is a marketing and sales engagement platform for the mortgage industry, that helps lenders close more loans through better borrower engagement. The company delivers dynamic technology, strategy, and content for every channel to ensure engagement throughout the borrower's journey. Insellerate integrates with the software powering lenders’ business today and into the future. It is a highly scalable, configurable, and modern platform that accelerates sales and generates repeat business. SOC 2 and SSAE 18 certified. Insellerate was formed in 2012 and is based in Newport Beach, California.

Buy -
SELLER

Level Equity Management

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2009
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
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 13 of 16
Sector (Internet Software and Services) 9 of 11
Type (Merger) 1 of 1
State (Connecticut) 2 of 2
Country (United States) 12 of 15
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-06 Headversity

Calgary, Alberta, Canada

Headversity provides preventative mental health solutions for employers through a resilience training platform. The Company offers mobile applications that deliver personalized educational resilience training content and modules to employees, which improves mental health and performance. Headversity was founded in 2017 and is based in Calgary, Alberta.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-02 PURE PM

Los Gatos, California, United States

Pure PM is a technology-enabled platform that acquires and optimizes single-family residential property management companies in the US. By leveraging the executive team’s deep institutional knowledge of the market, the Company has developed a playbook to rapidly acquire property management companies at low single-digit revenue multiples, rationalize operating expenses, grow revenue per door and organically expand doors under management. Pure PM is based in Los Gatos, California.

Buy -
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