M&A Deal Summary

BayLink Capital and Trive Capital Acquire Veltris

On October 4, 2023, private equity firms BayLink Capital and Trive Capital acquired engineering company Veltris

Acquisition Highlights
  • This is BayLink Capital’s 1st and Trive Capital’s 1st transaction in the Engineering sector.
  • This is BayLink Capital’s 1st and Trive Capital’s 48th transaction in the United States.
  • This is BayLink Capital’s 1st and Trive Capital’s 11th transaction in California.

M&A Deal Summary

Date 2023-10-04
Target Veltris
Sector Engineering
Buyer(s) BayLink Capital
Trive Capital
Deal Type Consolidation

Target

Veltris

Milpitas, California, United States
Veltris offers "chip to cloud" product development services encompassing software embedded in the physical/hardware layer all the way up through custom software at the application layer. The Company embraces a design-centric full-stack development approach starting with consultative solutioning, through design, architecture, development, testing and deployment. Veltris is headquartered in Milpitas, California.

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Buyer(S) 2

DESCRIPTION

BayLink Capital is a private equity firm focused on acquiring profitable lower middle-market healthcare, business services, and financial services companies across the US. The Firm seeks to partner with founders and managements as their businesses look to continue to grow. Specific areas of interest include medical products, healthcare IT, healthcare billing, outsourced IT, payments and transaction processing, transportation and logistics, and business automation. BayLink Capital was formed in 2020 and is based in San Francisco, California.


DEAL STATS #
Overall 1 of 1
Sector (Engineering) 1 of 1
Type (Consolidation) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1
Buyer

Trive Capital

Dallas, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2012
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Trive Capital is a hands-on, operationally-focused private equity firm that targets complex or special situations in 'out of favor' but protected market niches. The Firm will consider businesses throughout North America offering differentiated products/services with leading/defensible industry positions. Trive looks to commit $10 to $300 million per investment in businesses generating revenues of $40 million to $1.5 billion. Sectors of interest include automotive, transportation, aerospace/defense, building products, construction, infrastructure, healthcare, manufacturing, industrial, chemicals, distribution, consumer goods, energy services, business services, and communications. Trive Capital was founded in 2012 and is based in Dallas, Texas.


DEAL STATS #
Overall 50 of 54
Sector (Engineering) 1 of 1
Type (Consolidation) 4 of 4
State (California) 11 of 11
Country (United States) 48 of 51
Year (2023) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-15 Pryor Learning

Mission, Kansas, United States

Pryor Learning provides affordable subscription access to its content library of 5,000 courses, as well as live and virtually delivered seminars targeted at training and upskilling entry to mid-level professionals. Pryor’s comprehensive content library, ease of implementation, and varied delivery modalities make the Company the training partner of choice for individuals, teams, and tens of thousands of small-to-medium sized enterprises. Pryor Learning was founded in 1970 and headquartered in Mission, Kansas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-01 Avatara

St. Louis, Missouri, United States

Avatara is a specialized service provider that offers small-to-medium sized businesses an off-the-self and cost-efficient all-in-one solution for full IT outsourcing. Utilizing its proprietary CompleteCloud software suite and private cloud capabilities, Avatara is a trusted partner for small-to-medium sized businesses in regulatory- and compliance-intensive industries such as Aerospace & Defense, Healthcare, and Financial Services. Avatara was founded in 2005 and is based in St. Louis, Missouri.

Buy -