M&A Deal Summary

Banneker Partners Acquires HS GovTech

On September 18, 2023, private equity firm Banneker Partners acquired internet software and services company HS GovTech for 33M USD

Acquisition Highlights
  • This is Banneker Partners’ 4th transaction in the Internet Software and Services sector.
  • This is Banneker Partners’ 3rd largest (disclosed) transaction.
  • This is Banneker Partners’ 15th transaction in the United States.
  • This is Banneker Partners’ 1st transaction in North Carolina.

M&A Deal Summary
Date 2023-09-18
Target HS GovTech
Sector Internet Software and Services
Buyer(s) Banneker Partners
Deal Type Going Private
Deal Value 33M USD
Advisor(s) McMillan (Legal)

Target

HS GovTech

Charlotte, North Carolina, United States
HS GovTech is a provider of web-based and mobile solutions for health and safety regulatory agencies across North America. HS GovTech's cutting edge platforms currently provide inspection, information, communication and data management systems that enable government agencies to operate more efficiently. HS GovTech was founded in 1999 and is based in Charlotte, North Carolina.

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Buyer(S) 1

Buyer

Banneker Partners

San Francisco, California, United States

Investor

Category Private Equity Firm
Founded 2010
PE ASSETS 1.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Banneker Partners is a West Coast based private equity firm focused on investing in software/SaaS, internet, and business services companies. Banneker looks to partner with management when making acquisitions. Firm principals have experience investing in high growth as well as mature/legacy businesses. Banneker Partners was formed in 2010 and is based in San Francisco.

DEAL STATS #
Overall 18 of 19
Sector (Internet Software and Services) 4 of 4
Type (Going Private) 1 of 1
State (North Carolina) 1 of 1
Country (United States) 15 of 16
Year (2023) 1 of 1
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-20 Surgimate

New York, New York, United States

Surgimate is a provider of surgical coordination software in the U.S. Surgimate has rewritten the rules for modern surgical practice operations with Surgimate Practice, its surgical orchestration platform that maximizes surgical throughput & revenue. Surgimate Practice unites data, surgeons and support staff around a single source of critical data and a failsafe surgical workflow that drives enterprise practice transformation from the ground up. Surgimate was formed in 2009 and is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-25 XBE

Kansas City, Missouri, United States

XBE is an operations management software for the horizontal construction industry. The company’s platform includes materials, logistics, and construction management capabilities for the asphalt, concrete, aggregate, and site work segments. XBE was founded in 2017 and is based in Kansas City, Missouri.

Buy -
Mergr

Product

Company

Legal