M&A Deal Summary

Welsh Carson Anderson & Stowe Acquires Absorb

On April 20, 2021, private equity firm Welsh Carson Anderson & Stowe acquired internet software and services company Absorb from Silversmith Capital Partners

Acquisition Highlights
  • This is Welsh Carson Anderson & Stowe’s 5th transaction in the Internet Software and Services sector.
  • This is Welsh Carson Anderson & Stowe’s 1st transaction in Canada.
  • This is Welsh Carson Anderson & Stowe’s 1st transaction in Alberta.

M&A Deal Summary
Date 2021-04-20
Target Absorb
Sector Internet Software and Services
Buyer(s) Welsh Carson Anderson & Stowe
Sellers(s) Silversmith Capital Partners
Deal Type Secondary Buyout
Advisor(s) Shea & Company LLC (Financial)
Choate Hall & Stewart LLP (Legal)

Target

Absorb

Calgary, Alberta, Canada
website
Absorb is a learning technology company. Absorb’s learning management system (LMS) centers around an intuitive user experience and a highly configurable, brand-specific interface, offering administrative, course builder, and reporting tools to its stakeholders. Absorb was established in 2003 and is based in Calgary, Alberta.

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Buyer(S) 1

Buyer

Welsh Carson Anderson & Stowe

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1979
PE ASSETS 27.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Welsh Carson Anderson & Stowe (WCAS) is a mega-sized, specialist private equity firm focused on investments in growth-oriented companies operating within the healthcare and technology/tech-enabled services industries. WCAS will consider small and large transactions; including venture investments, growth equity investments, buy-and-build transactions, public-to-private acquisitions, and corporate carve-outs. The Firm prefers control situations and generally seeks opportunities in the US. Welsh Carson Anderson & Stowe was formed in 1979 and is based in New York City.

DEAL STATS #
Overall 89 of 97
Sector (Internet Software and Services) 5 of 5
Type (Secondary Buyout) 18 of 20
State (Alberta) 1 of 1
Country (Canada) 1 of 1
Year (2021) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-24 InnovAge

Denver, Colorado, United States

InnovAge provides a range of medical and ancillary services for seniors in need of care and support to live independently in their homes and communities through the Program of All-inclusive Care for the Elderly (PACE). InnovAge is dedicated to expanding this successful program to serve as many seniors as possible across the country. InnovAge was formed in 1990 and is based in Denver, Colorado.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-15 Springstone

Louisville, Kentucky, United States

Springstone is a provider of high-quality behavioral healthcare services. Its inpatient and outpatient programs provide children and adults with the treatment of mental illness and addiction, offering a broad scope of services for a diverse patient population. In addition to traditional therapies, The company takes a holistic approach to treatment, offering yoga, art, and recreational therapy. Its engaged and mission-driven team is dedicated to Changing People’s Lives through a patient-centric approach to delivering superior outcomes. Springstone was formed in 2010 and is based in Louisville, Kentucky.

Sell -

Seller(S) 1

SELLER

Silversmith Capital Partners

Investor Investor Investor Investor Investor

website

Category Growth Capital Firm
Founded 2015
PE ASSETS 3.3B USD
Size Large
Type Sector Focused
DESCRIPTION

Silversmith Capital Partners is a private investment firm focused on growth capital investments in SaaS and healthcare IT/services companies. The Firm looks to invest $20 to $125 million in growing companies (20%+) with at least $10 million in revenue. Silversmith Capital Partners was established in 2015 and is headquartered in Boston, Massachusetts.

DEAL STATS #
Overall 2 of 5
Sector (Internet Software and Services) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Alberta) 1 of 1
Country (Canada) 1 of 1
Year (2021) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-16 Microblink

London, United Kingdom

Microblink is a provider of AI-powered computer vision software. The company offers a variety of SDKs for digitizing documents, automating processes, and eliminating manual data entry for mobile and web applications. Microblink was founded in 2013 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-14 LifeStance Health

Scottsdale, Arizona, United States

LifeStance Health is a provider of medically driven, evidenced-based treatment services for its patients who are suffering from addiction, substance abuse and eating disorders in a variety of settings including residential treatment centers, outpatient clinics, sober living facilities and aftercare settings. LifeStance Health was established in 2015 and is based in Scottsdale, Arizona.

Sell -
Mergr

Product

Company

Legal