M&A Deal Summary

Battery Ventures Acquires Maxio

On April 21, 2021, private equity firm Battery Ventures acquired internet software and services company Maxio from Fulcrum Equity Partners

Acquisition Highlights
  • This is Battery Ventures’ 20th transaction in the Internet Software and Services sector.
  • This is Battery Ventures’ 73rd transaction in the United States.
  • This is Battery Ventures’ 6th transaction in Georgia.

M&A Deal Summary
Date 2021-04-21
Target Maxio
Sector Internet Software and Services
Buyer(s) Battery Ventures
Sellers(s) Fulcrum Equity Partners
Deal Type Secondary Buyout

Target

Maxio

Peachtree Corners, Georgia, United States
Maxio is a subscription management platform that automates financial operations for growing B2B SaaS businesses. A cloud-based solution, the SaaSOptics platform allows businesses to pull accurate SaaS metrics and analytics quickly, scale billing and payments smoothly and automate GAAP/IFRS-compliant revenue recognition. Maxio was founded in 2009 and is based in Peachtree Corners, Georgia.

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Buyer(S) 1

Buyer

Battery Ventures

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1983
PE ASSETS 13.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Battery Ventures is a private investment firm focused on opportunities in the technology and related-sectors. Battery will invest at all company stages, from seed and early-stage capital situations to leveraged buyouts, PIPEs, spin outs, rollups and take-privates of established companies. Battery's private equity group focuses on investments in companies with revenue of $5 to $200 million and EBITDA up to $25 million. Battery can commit up to $100 million in equity per transaction. Specific areas of interest include software; IT services and outsourcing; communications components, systems, and services; and financial services and tech-enabled businesses. Battery will consider investments throughout North America, Europe, and Asia. Battery Ventures was formed in 1983 and is headquartered in Menlo Park, California.

DEAL STATS #
Overall 97 of 116
Sector (Internet Software and Services) 20 of 21
Type (Secondary Buyout) 7 of 7
State (Georgia) 6 of 6
Country (United States) 73 of 77
Year (2021) 6 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-21 Chargify

San Antonio, Texas, United States

Chargify is a billing and revenue management platform for fast-growing SaaS businesses. Chargify started out as a team within Grasshopper focused on the core needs of recurring billing. Over the past decade, Chargify has expanded its offerings to address the complexities of SaaS revenue management, with core functionalities in elastic billing, revenue operations, and SaaS-tailored insights. Chargify was founded in 2009 and is based in San Antonio, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-14 Exerp

Copenhagen, Denmark

Exerp specializes in providing enterprise-class membership-management software systems to large, global fitness brands, including Lifetime Fitness, SATS, Virgin Active, and PureGym. 40% of the biggest fitness operators in Europe run on Exerp. The Exerp platform acts as the centralized information source and member database for payment collection, bookings reporting, business analytics, and customer-relations management. Exerp is based in Copenhagen, Denmark.

Sell -

Seller(S) 1

SELLER

Fulcrum Equity Partners

Atlanta, Georgia, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Fulcrum Equity Partners is an investment firm focused on smaller growth companies in the Southeast US. Fulcrum looks to invest $5 to $35 million in businesses generating $3 to $50 million in annual sales. Funds are used to support growth initiatives, acquisitions, divestures, shareholder liquidity, management buyouts and recapitalizations. Sectors of interest include healthcare, IT, business services, and technology-enabled services. Fulcrum Equity Partners is based in Atlanta, Georgia.

DEAL STATS #
Overall 16 of 21
Sector (Internet Software and Services) 1 of 2
Type (Secondary Buyout) 3 of 4
State (Georgia) 10 of 13
Country (United States) 16 of 21
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-16 ProxsysRx

Birmingham, Alabama, United States

ProxsysRx is a healthcare solutions company providing value, revenue, and savings to hospital and health system partners through inpatient and outpatient engagement and comprehensive pharmacy programs. Benefits to ProxsysRx partners include readmission risk reduction, 340B savings, employee benefit cost savings, and improved patient satisfaction. ProxsysRx services for hospitals and health care systems include onsite retail pharmacy, 340B administration, personalized and digital patient engagement and management, and employee health benefit program management. ProxsysRx is based in Birmingham, Alabama.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-14 Summit Spine & Joint Centers

Lawrenceville, Georgia, United States

Summit Spine & Joint Centers operates ambulatory surgery centers and pain management clinics in the greater Atlanta area. Summit provides interventional pain management treatment to patients who suffer from chronic pain symptoms. Summit Spine & Joint Centers was founded in 2014 and is based in Lawrenceville, Georgia.

Sell -
Mergr

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