M&A Deal Summary

Arlington Capital Partners Acquires Neumo

On August 13, 2025, private equity firm Arlington Capital Partners acquired software company Neumo from Audax Private Equity

Acquisition Highlights
  • This is Arlington Capital Partners’ 7th transaction in the Software sector.
  • This is Arlington Capital Partners’ 62nd transaction in the United States.
  • This is Arlington Capital Partners’ 3rd transaction in Texas.

M&A Deal Summary

Date 2025-08-13
Target Neumo
Sector Software
Buyer(s) Arlington Capital Partners
Sellers(s) Audax Private Equity
Deal Type Secondary Buyout

Target

Neumo

Austin, Texas, United States
Neumo is a provider of transaction and compliance software for state and local governments, streamlining property, licensing, and tax interactions with businesses and citizens. Neumo is based in Austin, Texas.

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Buyer(S) 1

Buyer

Arlington Capital Partners

Bethesda, Maryland, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 7.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Arlington Capital Partners is a middle-market private equity firm focused on buyouts and recapitalizations in targeted growth industries. Arlington targets US based companies valued between $50 and $500 million with strong potential for organic growth and possible consolidation opportunities. Sectors of interest include business services and outsourcing, aerospace/defense, federal and commercial IT, media, education and training, healthcare services, and manufacturing. Arlington Capital was formed in 1999 and is headquartered in Washington DC.


DEAL STATS #
Overall 66 of 67
Sector: Software M&A 7 of 7
Type: Secondary Buyout M&A Deals 18 of 18
State: Texas M&A 3 of 3
Country: United States M&A 62 of 63
Year: 2025 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-08-13 Avenu Insights & Analytics

Centreville, Virginia, United States

Avenu Insights & Analytics is a provider of integrated administrative, revenue enhancement and payment software and solutions to state and local governments Avenu Insights & Analytics was founded in 1978 and is based in Centreville, Virginia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-10-01 CBSET

Lexington, Massachusetts, United States

CBSET is a provider of translational research and product development services for the medical device, pharmaceutical, diagnostic, and biomedical research industries. CBSET was founded in 2006 and is based in Lexington, Massachusetts.

Buy -

Seller(S) 1

SELLER

Audax Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Private Equity is a private equity firm focused on acquiring control positions in a variety of mid to large North American headquartered companies. The Firm segments its activities into lower middle-market and larger scale investing. Within its larger group, Audax targets profitable businesses valued up to $800 million and within its lower middle-market group, the Firm seeks companies valued up to $125 million. Sectors of interest include business services, consumer products/services, financial services, healthcare services, industrial services, software, and technology. Audax has a special interest in businesses that can benefit from a buy and build investment strategy for growth. Audax Private Equity was formed in 1999 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 109 of 109
Sector: Software M&A 7 of 7
Type: Secondary Buyout M&A Deals 61 of 61
State: Texas M&A 10 of 10
Country: United States M&A 103 of 103
Year: 2025 M&A 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-08-04 Elevate Patient Financial Solutions

Spring, Texas, United States

Elevate Patient Financial Solutions is a provider of technology-enabled revenue cycle management services for hospitals, health systems, and healthcare providers. Elevate Patient Financial Solutions proprietary technology platform offers a unified suite of solutions designed to engage patients, empower physicians and hospitals, and improve financial outcomes throughout the entire healthcare continuum. For four decades, the company has been providing innovative solutions to the medical community and serving hundreds of millions of patients across numerous medical specialties. Elevate Patient Financial Solutions was founded in 1980 and is based in Spring, Texas.

Buy -