Mainsail Partners Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Mainsail Partners has invested in 11 companies.

Mainsail Partners’ most common sectors for investment are internet software and services (35%) and software (35%). The Firm’s most common investment types include growth capital (81%) and buyout (lbo, mbo, mbi) (4%). In total, Mainsail Partners has invested in 15 US states.

In the last 3 years, Mainsail Partners has exited 6 companies. The Firm’s most common exit type is trade sale (54%). Mainsail Partners’ largest (disclosed) exit occurred in 2014 when it sold Novus Biologicals for $60M.

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M&A Summary

  • M&A Total Activity41
    • M&A Buy Activity26
    • M&A Sell Activity15
  • Total Sectors Invested 8
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 14
  • M&A Advisors 1

Mainsail Partners

One Front Street, Suite 3000,
San Francisco, California 94111
United States
(415) 391-3150
www.mainsailpartners.com
mainsail@mainsailpartners.com

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.


Investment Criteria

Sectors of Interest: Business Services, Distribution, Education, Energy Services and Equipment, Financial Services, Franchising, Healthcare Services, Internet Software and Services, Leisure, Life Science, Manufacturing, Marketing, Publishing, Restaurants, Semiconductors, Software

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Recapitalization

Geographic Preferences: East US, Midwest US, South US, West US, Canada

Transaction Criteria Min Max
Target Revenue 4 25
Target EBITDA - -
Investment Size 10 75
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (2.4/yr) # 14 1 4 3 3 1 26
Sell (1.2/yr) # 9 - 3 1 1 1 15
vol $117M $117M
  41

Most Recent M&A

Company Date Value Type
PlanHub 2020-10-20 - Growth Capital
West Palm Beach, Florida · www.planhub.com
Ncontracts LLC 2020-01-23 - Secondary Buyout
Brentwood, Tennessee · www.ncontracts.com
SourceScrub, Inc. 2019-11-06 - Growth Capital
San Francisco, California · www.sourcescrub.com
The Bar Method Media, Inc. 2019-09-12 - Add-on Acquisition
San Francisco, United States · www.barmethod.com
Fullbay, Inc. 2019-05-21 - Growth Capital
Phoenix, Arizona · www.fullbay.com
Aspire Software 2019-03-06 - Growth Capital
Chesterfield, Montana · www.youraspire.com
FairWarning, Inc. 2018-06-11 - Growth Capital
Clearwater, Florida · www.fairwarning.com
PestRoutes LLC 2018-03-21 - Growth Capital
Mckinney, Texas · www.pestroutes.com
nCourt LLC 2018-03-16 - Secondary Buyout
Woodstock, Georgia · www.ncourt.com
Bio-Optronics, Inc. 2018-01-18 - Growth Capital
Rochester, New York · www.bio-optronics.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Internet Software and Services 7 (47%) - 9 (35%) -
Software 7 (47%) - 9 (35%) -
Information Technology 1 (7%) - 3 (12%) -
Consumer Services - - 1 (4%) -
Healthcare Services - - 1 (4%) -
Life Science - - 1 (4%) -
Restaurants - - 1 (4%) -
Semiconductors - - 1 (4%) -
Total 15 - 26 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 15 (100%) - 26 (100%) -
  California 3 (20%) - 7 (27%) -
  Texas 2 (13%) - 2 (8%) -
  North Carolina 2 (13%) - 2 (8%) -
  Florida 2 (13%) - 2 (8%) -
  Tennessee 1 (7%) - 2 (8%) -
  Kansas - - 2 (8%) -
  Arizona 1 (7%) - 1 (4%) -
  Virginia 1 (7%) - 1 (4%) -
  New York 1 (7%) - 1 (4%) -
  Montana 1 (7%) - 1 (4%) -
  Illinois 1 (7%) - 1 (4%) -
  Colorado - - 1 (4%) -
  Massachusetts - - 1 (4%) -
  Georgia - - 1 (4%) -
Total 15 - 26 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 15 (100%) - 21 (81%) -
Buyout (LBO, MBO, MBI) - - 1 (4%) -
Divestiture - - 1 (4%) -
Recapitalization - - 1 (4%) -
Secondary Buyout - - 1 (4%) -
Stake Purchase - - 1 (4%) -
Total 15 - 26 -

Exits by Deal Type

Type Total # Value
Secondary Sale 5 (33%) -
Trade Sale 5 (33%) -
Trade Sale - Public Company 3 (20%) 117M (100%)
IPO 1 (7%) -
Merger 1 (7%) -
Total 15 $117M

Top M&A Advisors

Financial Deals
Brookwood Associates
 1

Deal Values

sell # Total
< $100M 3 $117M
TOTAL $117M
Largest Novus Biologicals LLC
$60M (2014-07-02)

M&A Connections

Deals %
Acquired from
PE Firm(s)
50%
1 50%
Strategic(s)
50%
1 50%
Exited to
PE Firm(s)
40%
6 40%
Strategic(s)
60%
9 60%

Investor Summary

Size

Middle-Market

PE Assets

750M USD

Established

2003

Specialist/Generalist

Specialist

Leadership

Gavin Turner

Co-Founder & Managing Partner

C. Jason Payne

Co-Founder & Senior Advisor

Lynn Atkinson

COO

William Salisbury

Operating Partner, CFO, CCO

Michael Anderson

Partner

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