M&A Deal Summary

Battery Ventures Acquires SigmaTEK Systems

On October 23, 2018, private equity firm Battery Ventures acquired software company SigmaTEK Systems

Acquisition Highlights
  • This is Battery Ventures’ 23rd transaction in the Software sector.
  • This is Battery Ventures’ 62nd transaction in the United States.
  • This is Battery Ventures’ 2nd transaction in Ohio.

M&A Deal Summary
Date 2018-10-23
Target SigmaTEK Systems
Sector Software
Buyer(s) Battery Ventures
Deal Type Buyout (LBO, MBO, MBI)

Target

SigmaTEK Systems

Cincinnati, Ohio, United States
SigmaTEK Systems develops and sells SigmaNEST, a comprehensive software solution for nesting, NC programming and cutting of sheet metal, steel and aluminum plate, tube/pipe, composite and engineered materials and wood. SigmaNEST is the leading CAD/CAM nesting system for plasma, laser, punch, oxyfuel, waterjet, router, knife, tube/pipe and combination cutting machines. SigmaNEST ensures superior material utilization, machine motion optimization and maximum part quality balanced with cutting speed, work flow integration, material handling, accurate estimates and information management. SigmaTEK Systems was founded in 1993 and is based in Cincinnati, Ohio.

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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 79 of 116
Sector (Software) 23 of 35
Type (Buyout (LBO, MBO, MBI)) 18 of 37
State (Ohio) 2 of 2
Country (United States) 62 of 77
Year (2018) 7 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-27 SPT Labtech

Melbourn, United Kingdom

SPT Labtech is a manufacturer of liquid-handling instrumentation and sample- storage systems for sample-preparation and sample-management applications. The company’s products are used for process control and to optimize workflow efficiency across a variety of tasks in the pharmaceutical, biotechnology and academic-research markets. SPT Labtech was founded in 2001 and is based in Melbourn, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-05 Audio Precision

Beaverton, Oregon, United States

Audio Precision is a manufacturer of electronic instruments used to test and measure audio signals in high-end audio and broadcast equipment. The company has a highly international customer base comprised of almost every major manufacturer of high-quality consumer and professional audio equipment, including Dolby Labs, Sony, Panasonic, Motorola, Texas Instruments, and Harman. The Company is rich with patents, proprietary software, and engineering talent, blending a high-tech profile with long-lifecycle products, and thus providing very stable revenue and profitability. Hanover Partners teamed with an institutional investor to purchase Audio Precision from its founders and has established a broad-based stock option plan to partner with the Company's management and key employees. Audio Precision was founded in 1984 and is based in Beaverton, Oregon.

Buy -
Mergr

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