M&A Deal Summary

Vista Equity Partners, Monroe Capital and Sixth Street Partners Acquire MindBody

On December 24, 2018, private equity firm Vista Equity Partners, lender Monroe Capital and asset manager Sixth Street Partners acquired software company MindBody for 1.9B USD

Acquisition Highlights
  • This is Vista Equity Partners’ 42nd, Monroe Capital’s 2nd and Sixth Street Partners’ 2nd transaction in the Software sector.
  • This is Vista Equity Partners’ 12th, Monroe Capital’s and Sixth Street Partners’ 2nd largest (disclosed) transaction.
  • This is Vista Equity Partners’ 94th, Monroe Capital’s 74th and Sixth Street Partners’ 4th transaction in the United States.
  • This is Vista Equity Partners’ 12th, Monroe Capital’s 12th and Sixth Street Partners’ 1st transaction in California.

M&A Deal Summary

Date 2018-12-24
Target MindBody
Sector Software
Buyer(s) Vista Equity Partners
Monroe Capital
Sixth Street Partners
Deal Type Going Private
Deal Value 1.9B USD
Advisor(s) Qatalyst Partners LP (Financial)
Cooley LLP (Legal)

Target

MindBody

San Luis Obispo, California, United States
website
MindBody is a technology platform for the fitness, beauty and wellness services industries. Local entrepreneurs worldwide use MINDBODY’s integrated software and payments platform to run, market and build their businesses. Consumers use MINDBODY to more easily find, engage and transact with fitness, wellness and beauty providers in their local communities. MindBody was formed in 2001 and is based in San Luis Obispo, California.

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Buyer(S) 3

Buyer

Vista Equity Partners

Austin, Texas, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2000
PE ASSETS 100.0B USD
Size Mega
Type Sector Focused
DESCRIPTION
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.

Vista Equity Partners is a mega-sized asset management firm focused on private equity, public equity, credit, and other strategies. The Firm's private equity group looks to invest in and acquire software and technology enabled services companies. Specific areas of interest include software, software-as-a-service (SaaS), technology-enabled business services, and technology-enabled information services. Vista can commit up to $700 million per transaction and will consider a variety transaction situations, including management/leveraged buyouts, growth or acquisition financings, recapitalizations or restructurings, spinouts, and take privates. Vista Equity Partners was formed in 2000 and is based in Austin, Texas.


DEAL STATS #
Overall 103 of 142
Sector (Software) 42 of 58
Type (Going Private) 16 of 23
State (California) 12 of 16
Country (United States) 94 of 130
Year (2018) 16 of 16
Size (of disclosed) 12 of 31
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-11 7Park Data

New York, New York, United States

7Park Data is a provider of data analytics software. 7Park Data transforms data to revolutionize business decisions. Leveraging machine learning, entity extraction, and linking, and predictive models, we transform unstructured information into contextualized Leading Performance Indicators for thousands of public and private companies. 7Park Data, Inc. was founded in 2012 and is based in New York, New York.

Buy $100M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-03 Alert Media

Austin, Texas, United States

Alert Media is an emergency mass communications and monitoring company that helps hundreds of global organizations securely and effectively monitor threats, streamline notifications, and improves employee safety. The company’s cloud-based platform delivers communications that protect organizations, improve operations, and mitigate loss from any location, at any time, using any device. Alert Media was founded in 2013 and is based in Austin, Texas.

Buy -
Buyer

Monroe Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website


Category Lender
Founded 2004
PE ASSETS 14.1B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Monroe Capital is a provider of senior and junior debt and equity co-investments to middle-market companies in the US and Canada. Investment types include unitranche financings, cash flow and enterprise value based loans, asset based loans, acquisition facilities, mezzanine debt, second lien or last-out loans and equity co-investments. Monroe Capital is a generalist investor and will consider companies in the healthcare, technology, media, retail, consumer sectors. Monroe Capital was formed in 2004 and is based in Chicago.


DEAL STATS #
Overall 74 of 102
Sector (Software) 2 of 4
Type (Going Private) 1 of 1
State (California) 12 of 17
Country (United States) 74 of 101
Year (2018) 9 of 10
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-19 StormTrap

Romeoville, Illinois, United States

StormTrap offers solutions for managing runoff, protecting waterways, and improving the use of a property. StormTrap is committed to providing cost-effective, customized water management solutions to engineers, owners, and municipalities across North America and abroad. StormTrap was founded in 2002 and is based in Romeoville, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-27 Inland Pipe Rehabilitation

Conyers, Georgia, United States

Inland Pipe Rehabilitation is a provider of trenchless pipe rehabilitation solutions and technology to the municipal wastewater and stormwater markets. Inland Pipe Rehabilitation was founded in 1973 and is based in Conyers, Georgia.

Buy -
Buyer

Sixth Street Partners

website


Category Asset Manager
Founded 2009
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Sixth Street is a global alternative asset manager and lender that offers a wide range of capital solutions to small, medium, and large companies. The Firm maintains a variety of investment vehicles focused on growth companies, infrastructure, insurance, agriculture as well as other strategies. Sixth Street was established in 2009 and is headquartered in San Francisco, California.


DEAL STATS #
Overall 4 of 22
Sector (Software) 2 of 3
Type (Going Private) 1 of 3
State (California) 1 of 5
Country (United States) 4 of 20
Year (2018) 2 of 2
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-29 Fullsteam

Auburn, Alabama, United States

Fullsteam is a software and payments company that acquires companies and provides them with streamlined payments infrastructure and enhanced operational support in order to increase growth and improve profitability. Fullsteam is actively seeking further acquisitions across multiple software verticals. Fullsteam was founded in 2018 and is based in Auburn, Alabama.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-01 Emplifi

Columbus, Ohio, United States

Emplifi is a provider of Software as a Service (SaaS) solutions for social media marketing, social commerce, and customer service and care. Emplifi was founded in 2021 and is based in Columbus, Ohio.

Buy -