M&A Deal Summary

Apax Acquires Bonterra

On June 15, 2021, private equity firm Apax acquired internet software and services company Bonterra from Waud Capital Partners

Acquisition Highlights
  • This is Apax’s 24th transaction in the Internet Software and Services sector.
  • This is Apax’s 94th transaction in the United States.
  • This is Apax’s 10th transaction in Texas.

M&A Deal Summary
Date 2021-06-15
Target Bonterra
Sector Internet Software and Services
Buyer(s) Apax
Sellers(s) Waud Capital Partners
Deal Type Secondary Buyout
Advisor(s) Raymond James - Investment Banking
Shea & Company LLC (Financial)
Kirkland & Ellis (Legal)

Target

Bonterra

Austin, Texas, United States
Bonterra is a provider of software-as-a-service solutions for corporate philanthropy, including workplace giving, employee engagement, and grants management. Bonterra was founded in 1999 and is based in Austin, Texas.

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Buyer(S) 1

Buyer

Apax

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1981
PE ASSETS 77.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apax Partners is a mega-sized private equity investment group, operating across the United States, Europe, Israel and Asia. Broad industry sectors of interest include tech & telecom, media, retail & consumer, healthcare, financial services, and business services. Apax will consider both minority and majority investment positions and prefers companies with strong market positions and growth potential. The Firm generally pursues platform acquisitions valued from $1 to $5 billion. Apax Partners was formed in 1981 and is based in London.

DEAL STATS #
Overall 237 of 262
Sector (Internet Software and Services) 24 of 27
Type (Secondary Buyout) 55 of 66
State (Texas) 10 of 11
Country (United States) 94 of 105
Year (2021) 11 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-14 Zensar

Pune, India

Zensar is a digital solutions and technology services company focusing on enterprise digital transformation. The company has offerings across the digital value chain, with a proven track record of innovation delivered through its ‘Return on Digital NeXT (RoDNeXT)’ framework. Zensar was formed in 1963 and is based in Pune, India.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-23 Revolution Prep

Los Angeles, California, United States

Revolution Prep is an education software and services provider that has helped over a hundred thousand students score higher on the SAT, ACT, and other high-stakes exams, while dramatically improving basic academic skills. Revolution Prep was founded in 2002 and is based in Los Angeles, California.

Buy -

Seller(S) 1

SELLER

Waud Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1993
PE ASSETS 3.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Waud Capital Partners is a private equity firm that pursues investments in mid-sized manufacturing, distribution and service companies. Waud looks for businesses with proven management, operating in well defined markets, and that demonstrate strong growth potential. The Firm typically invests $75 to $200 million. Specific areas of interest include adhesives, air/water treatment, alarm monitoring, auto components, coatings, consumer products, home healthcare services, hospitals, lighting, litigation support, medical distribution, petroleum distribution, pharmaceuticals, publishing, sealants, specialty hospitals, and tax consultants. Prospective transaction situations include buyouts, recapitalizations and industry consolidations. Waud Capital Partners was established in 1993 and is based in Chicago, Illinois.

DEAL STATS #
Overall 21 of 27
Sector (Internet Software and Services) 1 of 2
Type (Secondary Buyout) 5 of 9
State (Texas) 1 of 3
Country (United States) 20 of 26
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-14 TeamSnap

Chicago, Illinois, United States

TeamSnap is a provider of sports management and communication software for amateur sports. TeamSnap provides end-to-end solutions for communication, scheduling, payment collection, registration, and real-time game sharing through its proprietary software platform and mobile applications. TeamSnap was founded in 2009 and is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-01 iOFFICE

Houston, Texas, United States

iOFFICE is a provider of enterprise workplace SaaS platform, mobile tools and analytics to simplify facility management, empower employees and increase workplace productivity. iOFFICE is based in Houston, Texas.

Sell -
Mergr

Product

Company

Legal