Investment Summary

Apax and HarbourVest Partners Invest In Paycor

On September 11, 2018, private equity firms Apax and HarbourVest Partners invested in software company Paycor

Investment Highlights
  • This is Apax’s 18th and HarbourVest Partners’ 22nd transaction in the Software sector.
  • This is Apax’s 78th and HarbourVest Partners’ 110th transaction in the United States.
  • This is Apax’s 2nd and HarbourVest Partners’ 3rd transaction in Ohio.

Investment Summary

Date 2018-09-11
Target Paycor
Sector Software
Investor(s) Apax
HarbourVest Partners
Deal Type Growth Capital

Target

Paycor

Cincinnati, Ohio, United States
Paycor delivers modern, intuitive recruiting, HR, and payroll solutions. The company partners with businesses to optimize the management of their most valuable assets. Paycor’s personalized support and user-friendly technology ensure that key business processes, including recruiting, onboarding, reporting, timekeeping, compliance, and payroll, run smoothly. Paycor’s people operations solutions are recommended by today’s most innovative brokers, bankers, and CPAs. Paycor was formed in 1990 and is based in Cincinnati, Ohio.

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Investor(S) 2

Investor

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 205 of 262
Sector (Software) 18 of 26
Type (Growth Capital) 14 of 19
State (Ohio) 2 of 2
Country (United States) 78 of 105
Year (2018) 10 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-30 Genius Sports

London, United Kingdom

Genius Sports is a provider of sophisticated data-driven software solutions to global sports betting, lottery companies, and sports associations across the world. Its commitment to sport goes beyond delivering profitable and technical solutions for its partners. Genius Sports understands that the protection, integrity, and successful commercialization of official sports data is fundamental to the continued success of the industry. Genius Sports Group was founded in 2001 and is based in London, the United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-24 Authority Brands

Columbia, Maryland, United States

Authority Brands is a parent company of two home service franchisors, The Cleaning Authority and Homewatch CareGivers. Together, these brands provide recurring home services through more than 300 franchise locations in the U.S., Canada, and Latin America. Authority Brands was formed in 2017 and is based in Columbia, Maryland.

Buy -
Investor

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 185 of 223
Sector (Software) 22 of 26
Type (Growth Capital) 27 of 30
State (Ohio) 3 of 4
Country (United States) 110 of 134
Year (2018) 18 of 25
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-01 ACG Schools

Auckland, New Zealand

ACG Schools is a private education company that operates schools and preschools. ACG Schools was founded in 1994 and is based in Auckland, New Zealand.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-12 Q4

Toronto, Ontario, Canada

Q4 is a provider of cloud-based Investor Relations (IR) websites and apps on all screens - desktop, tablet and smartphones. Q4 was founded in 2005 and is based in Toronto, Ontario.

Buy -