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Investment Summary

Clearlake Capital Invests In OnShift

On October 24, 2018, private equity firm Clearlake Capital invested in internet software and services company OnShift

Investment Highlights
  • This is Clearlake Capital’s 6th transaction in the Internet Software and Services sector.
  • This is Clearlake Capital’s 48th transaction in the United States.
  • This is Clearlake Capital’s 1st transaction in Ohio.
Investment Fate
  • OnShift was sold to a strategic buyer in 2022.

Investment Summary
Date 2018-10-24
Target OnShift
Sector Internet Software and Services
Investor(s) Clearlake Capital
Deal Type Growth Capital
Advisor(s) KeyBanc Capital Markets (Financial)

Target

OnShift

Cleveland, Ohio, United States
OnShift is a provider of cloud-based human capital management software for the long-term post-acute care market. The Company’s multi-tenant SaaS platform facilitates scheduling, labor analytics, workforce planning, employee financial wellness, employee engagement, applicant tracking, and recruitment management for nearly 5,000 customers, including many of the leading skilled nursing and senior living providers. OnShift was founded in 2008 and is based in Cleveland, Ohio.

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Investor(S) 1

Investor

Clearlake Capital

Santa Monica, California, United States
Category Private Equity Firm
Founded 2006
PE ASSETS 90.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Clearlake Capital Group is a private equity firm that focuses on corporate divestitures, recapitalizations, buyouts, restructurings, rescue financing, growth capital, turnarounds, and other equity investments. Clearlake seeks to partner with strong management teams by providing long-term capital and operational expertise. Areas of interest include technology, industrials, and consumer. Clearlake Capital Group was formed in 2006 and is based in Santa Monica, California.

DEAL STATS #
Overall 51 of 93
Sector: Internet Software and Services M&A 6 of 14
Type: Growth Capital M&A Deals 3 of 7
State: Ohio M&A 1 of 1
Country: United States M&A 48 of 88
Year: 2018 M&A 10 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-23 symplr

Houston, Texas, United States

symplr is a healthcare governance, risk, and compliance SaaS platform, offering provider management, credential management, and payer enrollment services to over 1,500 customers representing more than 4,000 healthcare facilities in North America. symplr was founded in 2006 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-01 MYCOM OSI

London, United Kingdom

MYCOM OSI is a provider of service assurance software to global telecommunications companies. MYCOM OSI provides software solutions that assure network and service quality and performance for optimal customer experience. It provides the first service assurance solution run from the cloud and use a subscription model that has been commercially deployed at scale. MYCOM OSI was founded in 1997 and is based in London, United Kingdom.

Sell -
Mergr

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