M&A Deal Summary

Nordic Capital Acquires Zafin Labs Technologies

On February 12, 2024, private equity firm Nordic Capital acquired software company Zafin Labs Technologies from Kayne Anderson Capital Advisors and Vistara Capital Partners

Acquisition Highlights
  • This is Nordic Capital’s 9th transaction in the Software sector.
  • This is Nordic Capital’s 1st transaction in Canada.
  • This is Nordic Capital’s 1st transaction in Ontario.

M&A Deal Summary

Date 2024-02-12
Target Zafin Labs Technologies
Sector Software
Buyer(s) Nordic Capital
Sellers(s) Kayne Anderson Capital Advisors
Vistara Capital Partners
Deal Type Secondary Buyout
Advisor(s) Goldman Sachs (Financial)
Fasken Martineau DuMoulin (Legal)

Target

Zafin Labs Technologies

Toronto, Ontario, Canada
Zafin Labs Technologies is a provider of relationship banking software solutions to financial services providers worldwide. Company technology platform, miRevenue, was built from the ground up for banking, enabling customer-centric product innovations that drive revenue, transparency and operational efficiency across the customer lifecycle. Zafin Labs Technologies was founded in 2002 and is based in Toronto, Ontario.

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Buyer(S) 1

Buyer

Nordic Capital

Stockholm, Sweden

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 30.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Nordic Capital is a private equity investment firm that targets mid to large-sized company investments located in Northern Europe as well as the US. Nordic seeks investments across a wide range of industries and prefers situations where there are 'opportunities for new industrial combinations, strategic repositioning, international expansion and operational improvements'. Nordic Capital was formed in 1989 and is based in Stockholm, Sweden.


DEAL STATS #
Overall 132 of 135
Sector (Software) 9 of 12
Type (Secondary Buyout) 41 of 44
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2024) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-20 Consilium Marine & Safety

Gothenburg, Sweden

Consilium Marine & Safety produces safety and safety-related technologies, within fire and gas detection, for the marine, oil and gas, transport, and building sectors. Consilium Marine & Safety is based in Gothenburg, Sweden.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-27 ActiveViam

Paris, France

ActiveViam is a provider of in-memory data analytics software solutions designed for the significant speed and data volume demands of financial service and retail applications. ActiveViam was founded in 2005 and is based in Paris, France.

Buy -

Seller(S) 2

SELLER

Kayne Anderson Capital Advisors

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1984
PE ASSETS 8.6B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kayne Anderson Capital Advisors is an alternative investment management firm focused on hedge funds, public funds, energy private equity, growth private equity, real estate private equity, and mezzanine finance opportunities. Kayne's energy private equity group focuses on $20 to $100 million investments in high-growth exploration and production, midstream and oilfield service companies. The energy group considers both majority or minority stakes in public and private businesses. Kayne's growth private equity practice involves structured investments in public and private companies looking for capital to finance expansion. This group will also consider middle-market leveraged transactions and management buyouts. Kayne's real estate private equity group invests in established, cash-flow generating projects. Areas of interest include student housing and campus-oriented retail properties, amongst other opportunistic investments. The Group looks for acquisitions of $25 to $100 million. Kayne's mezzanine team looks to provide $20 to $35 million of capital for mid-market businesses with $100 to $500 million of sales and $10 to $50 million of EBITDA. Kayne Capital Advisors was formed in 1984 and is based in Los Angeles with additional offices in Armonk, New York; New York City, and Houston.


DEAL STATS #
Overall 80 of 80
Sector (Software) 7 of 7
Type (Secondary Buyout) 10 of 10
State (Ontario) 3 of 3
Country (Canada) 11 of 11
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-02 Ensign Natural Resources

Houston, Texas, United States

Ensign Natural Resources is an exploration and production company focused on acquiring, developing and producing U.S. unconventional resources. Ensign Natural Resources was founded in 2017 and is based in Houston, Texas. ​

Sell $3.0B
DESCRIPTION

Vistara Capital Partners is a growth focused private equity firm that makes investments in technology and technology-enabled service companies across North America. The Firm looks to invest between $3 and $10 million in companies generating sales greater than $10 million. Vistara Capital Partners was formed in 2015 and is based in Vancouver, British Columbia.


DEAL STATS #
Overall 6 of 6
Sector (Software) 3 of 3
Type (Secondary Buyout) 2 of 2
State (Ontario) 2 of 2
Country (Canada) 4 of 4
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-24 Getaround

San Francisco, California, United States

Getaround connects safe, convenient, and affordable cars with people who need them to live and work. Getaround is the world's first carsharing marketplace offering a 100% digital experience with proprietary technology and data that make sharing vehicles superior to owning them. Getaround was founded in 2009 and is based in San Francisco, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-10 Clariti

Dover, Delaware, United States

Clariti is a government permitting and licensing software company. Clariti is built as an alternative to code-heavy, non-configurable systems that create technology barriers for governments to meet their community’s evolving needs. Clariti was founded in 2008 and is based in Dover, Delaware.

Buy -