Add-on Acquisition • Software

Advarra Acquires Bio-Optronics

On March 9, 2021, Advarra acquired software company Bio-Optronics from Mainsail Partners

Acquisition Context
  • This is Advarra’s 2nd transaction in the Software sector.
  • This is Advarra’s 8th transaction in the United States.
  • This is Advarra’s 1st transaction in New York.

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M&A Deal Summary

Date March 9, 2021
Target Bio-Optronics
Sector Software
Buyer(s) Advarra
Sellers(s) Mainsail Partners
Deal Type Add-on Acquisition

Target Company

Bio-Optronics

Rochester, New York, United States
Bio-Optronics, Inc. is a software company dedicated to providing user-focused applications for healthcare organizations that positively impact operational performance and final results. With applications focused on clinical research, automated resource utilization, and patient safety, Bio-Optronics solutions are used by thousands of healthcare organizations worldwide and are designed to simplify clinical trial operations, enhance financial performance, facilitate regulatory compliance, and further improve patient safety. Bio-Optronics was founded in 1985 and is based in Rochester, New York.
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Buyer Overview 1

Buyer

Advarra

Columbia, Maryland, United States

Category Company
Founded 1983
Sector Life Science
DESCRIPTION

Advarra is a provider of IRB, IBC, and compliance consulting services in North America. Fully accredited by AAHRPP, the company serves pharmaceutical, biotechnology, and medical device research sponsors and contract research organizations (CROs), as well as academic medical centers, hospital systems, investigative site networks, and patient advocacy groups. Advarra was founded in 1983 and is based in Columbia, Maryland.


Deal Context for Buyer #
Overall 9 of 10
Sector: Software 2 of 2
Type: Add-on Acquisition 7 of 8
State: New York 1 of 1
Country: United States 8 of 9
Year: 2021 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-07 YourEncore

Indianapolis, Indiana, United States

YourEncore, Inc. is a provider of drug development and commercialization advisory and consulting services to the biopharmaceutical industry. YourEncore was founded in 2003 and is based in Indianapolis, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-20 Watermark Research Partners

Indianapolis, Indiana, United States

Watermark Research Partners is an independent data safety monitoring board (DSMB) service providers. Watermark offers worldwide data monitoring committee, endpoint adjudication committee, and other biostatistical consulting services in full compliance with US FDA and EU EMA guidelines. Watermark Research Partners is based in Indianapolis, Indiana.

Buy -

Seller Profile 1

SELLER

Mainsail Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2003
PE ASSETS 2.2B USD
Size Large
Type Sector Focused
DESCRIPTION

Mainsail Partners is a private equity firm that principally targets investments in North American bootstrapped software companies with proven business models and long-term growth potential. Mainsail looks commit $10 to $75 million of equity capital per transaction in businesses generating annual revenues of $4 to $25 million. Mainsail Partners was formed in 2003 and is based in San Francisco, California.


Deal Context for Seller #
Overall 18 of 29
Sector: Software 5 of 8
Type: Add-on Acquisition 12 of 19
State: New York 1 of 1
Country: United States 18 of 29
Year: 2021 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-13 JobNimbus

Lehi, Utah, United States

JobNimbus is a software company that serves contractors and business owners in the home services construction industry with its project management, CRM platform, and growth services. JobNimbus has expanded its offerings across 11 home service industries, specializing in roofing, solar installation, and exterior renovations. JobNimbus was founded in 2013 and is based in Lehi, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-30 Aspire Software

Chesterfield, Montana, United States

Aspire Software offers business management software for landscape, snow & ice, and construction companies. Aspire’s cloud-based SaaS platform helps landscapers manage, create, and execute against their business opportunities and challenges. Aspire Software was formed in 2013 and is based in Chesterfield, Montana.

Sell -