M&A Deal Summary

Permira Acquires Axiom

On September 5, 2019, private equity firm Permira acquired business services company Axiom from Carrick Capital Partners

Acquisition Highlights
  • This is Permira’s 8th transaction in the Business Services sector.
  • This is Permira’s 31st transaction in the United States.
  • This is Permira’s 10th transaction in California.

M&A Deal Summary
Date 2019-09-05
Target Axiom
Sector Business Services
Buyer(s) Permira
Sellers(s) Carrick Capital Partners
Deal Type Secondary Buyout
Advisor(s) Goldman Sachs (Financial)
Cooley LLP (Legal)

Target

Axiom

San Francisco, California, United States
website
Axiom is a provider of tech-enabled legal, contracts, and compliance solutions for large enterprises. The company enables clients to access lawyers though a curated platform and build more dynamic teams to drive better business outcomes. Axiom empowers lawyers across industries and practice areas to thrive while pursuing more of the work they love. Axiom was formed in 2000 and is based in San Francisco, California.

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Buyer(S) 1

Buyer

Permira

London, United Kingdom

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1985
PE ASSETS 75.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Permira is a mega-sized private equity firm that targets large company investments around the world. Permira invests to support acquisitions, leveraged buyouts, take-privates, turnarounds, and growth buyouts. Areas of interest include healthcare, financial services, chemicals, consumer products and services, industrial products and services, technology, media, and telecom. Permira will consider opportunities in Europe, Asia, and North America. Permira was formed in 1985 and has offices in Menlo Park, Frankfurt, Luxembourg, London, Hong Kong, Madrid, Milan, Paris, Stockholm, Tokyo, Guernsey and New York City.

DEAL STATS #
Overall 131 of 156
Sector (Business Services) 8 of 10
Type (Secondary Buyout) 32 of 41
State (California) 10 of 15
Country (United States) 31 of 42
Year (2019) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-04 Topcast

Hong Kong, China

Topcast connects suppliers with customers in all segments of aviation including airlines, Maintenance, Repair, and Overhaul (MRO) service providers and Original Equipment Manufacturers (OEMs). Topcast operates as an extension of the suppliers offering not only aftermarket support, but also the development of new businesses for its principals. The company also provides technical support and maintenance services and distribution of industrial cables and wires. Topcast was founded in 1991 and is based in Hong Kong.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-25 TeamViewer

Goppingen, Germany

TeamViewer is a global provider of secure remote support software with a focus on the SMB market. TeamViewer was established in 2005 and is based in Goppingen, Germany.

Sell -

Seller(S) 1

SELLER

Carrick Capital Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor

website

Category Growth Capital Firm
Founded 2012
Size Small
Type Sector Focused
DESCRIPTION

Carrick Capital Partners is a private equity firm focused on 'tech-enabled' businesses (business process outsourcing, transaction processing, and software) where the firm can leverage its expertise in building value. Carrick typically makes direct investments in privately-held companies with proven potential for fast growth and/or profitability. Prospective companies generally have revenues of $20 to $100 million with gross margins in excess of 40%. Carrick Capital is based in San Francisco.

DEAL STATS #
Overall 4 of 11
Sector (Business Services) 2 of 4
Type (Secondary Buyout) 1 of 3
State (California) 2 of 6
Country (United States) 4 of 11
Year (2019) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-17 InstaMed Communications

Philadelphia, Pennsylvania, United States

InstaMed Communications LLC is a healthcare payments network, connecting providers, payers and consumers on one platform. InstaMed Network connects over two-thirds of the market and processes tens of billions of dollars in healthcare payments annually. InstaMed reduces the risks, costs and complexities of working with multiple payment vendors by delivering one platform for all forms of payment in healthcare, designed and developed on one code base and supported by one onshore team of experts in healthcare payments. InstaMed Communications LLC was founded in 2004 and is based in Philadelphia, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-31 Bay Dynamics

San Francisco, California, United States

Bay Dynamics, Inc. is an operator of a cyber risk analytics company that helps companies measure, communicate and reduce cyber risk. The company’s flagship analytics software, Risk Fabric, automates the process of analyzing security information so that it’s traceable, trustworthy and prioritized. Bay Dynamics was founded in 2001 and is based in San Francisco, California.

Sell -
Mergr

Product

Company

Legal