M&A Deal Summary

Audax Private Equity Acquires BlueCat

On June 23, 2022, private equity firm Audax Private Equity acquired information technology company BlueCat from Madison Dearborn Partners

Acquisition Highlights
  • This is Audax Private Equity’s 10th transaction in the Information Technology sector.
  • This is Audax Private Equity’s 6th transaction in Canada.
  • This is Audax Private Equity’s 4th transaction in Ontario.

M&A Deal Summary

Date 2022-06-23
Target BlueCat
Sector Information Technology
Buyer(s) Audax Private Equity
Sellers(s) Madison Dearborn Partners
Deal Type Secondary Buyout
Advisor(s) William Blair (Financial)
Kirkland & Ellis (Legal)

Target

BlueCat

Toronto, Ontario, Canada
BlueCat provides software-based Enterprise Domain Name System solutions that offer its customers management tools and security capabilities to manage their increasingly complex internal corporate networks. BlueCat's solutions result in improved network performance, enhanced network visibility, reduced network downtime and strengthened network security. BlueCat was founded in 2001 and is based in Toronto, Ontario.

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Buyer(S) 1

Buyer

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 157 of 170
Sector: Information Technology M&A 10 of 11
Type: Secondary Buyout M&A Deals 67 of 73
State: Ontario M&A 4 of 5
Country: Canada M&A 6 of 7
Year: 2022 M&A 9 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-14 Harbourfront Wealth Management

Vancouver, British Columbia, Canada

Harbourfront Wealth Management includes a registered Securities Dealer/Investment Advisory firm servicing established advisors and their high net worth clients, an Investment Fund Manager that specializes in managing sub-advised alternative investment funds and a US SEC Registered Investment Advisory firm. Harbourfront Wealth Management was formed in 2013 and is based in Vancouver, British Columbia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-15 Rensa Filtration

St. Charles, Illinois, United States

Rensa Filtration is a designer and manufacturer of air filtration products and services for commercial and industrial applications. Rensa Filtration is based in St. Charles, Illinois.

Buy -

Seller(S) 1

SELLER

Madison Dearborn Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 31.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Madison Dearborn Partners (MDP) is a large private equity firm that targets buyouts of private or publicly held companies, divestitures of larger companies, recapitalizations of family-owned or closely-held companies, acquisition-oriented financings, and financings to fund internal growth. MDP's target investment size is $100 to $600 million in buyout oriented transactions and $100 to $400 million in growth capital commitments. Areas of interest include basic industries (natural resources, chemicals, energy and power, automotive, building products, food, metals and mining, refining, paper, packaging and forest products, and general manufacturing), as well as communications, consumer products/services, financial services, and healthcare. Madison Dearborn Partners was formed in 1992 and is based in Chicago, Illinois.


DEAL STATS #
Overall 67 of 79
Sector: Information Technology M&A 4 of 8
Type: Secondary Buyout M&A Deals 12 of 14
State: Ontario M&A 3 of 4
Country: Canada M&A 4 of 5
Year: 2022 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-01 Patriot Home Care

Huntingdon Valley, Pennsylvania, United States

Patriot Home Care is a provider of personal care and home health services primarily for Medicaid recipients in Pennsylvania and Delaware. Patriot Home Care is based in Huntingdon Valley, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-12 Unison

McLean, Virginia, United States

Unison is a provider of purpose-built procurement and contract management software solutions to U.S. federal government agencies and government contractors. All software development and support are done within the USA. For over 30 years, Unison has continually advanced software and insight solutions to help Federal programs efficiently achieve their missions. Unison was founded in 1983 and is based in McLean, Virginia.

Buy -