M&A Deal Summary

Charles Thayne Capital, HGGC, Silver Lake and Dragoneer Investment Group Acquire Entrata

On March 24, 2022, growth capital firm Charles Thayne Capital, private equity firm HGGC, private equity firm Silver Lake and private equity firm Dragoneer Investment Group acquired software company Entrata

Acquisition Highlights
  • This is Charles Thayne Capital’s 2nd, HGGC’s 8th, Silver Lake’s 27th and Dragoneer Investment Group’s 2nd transaction in the Software sector.
  • This is Charles Thayne Capital’s 3rd, HGGC’s 38th, Silver Lake’s 89th and Dragoneer Investment Group’s 5th transaction in the United States.
  • This is Charles Thayne Capital’s 2nd, HGGC’s 2nd, Silver Lake’s 2nd and Dragoneer Investment Group’s 1st transaction in Utah.

M&A Deal Summary
Date 2022-03-24
Target Entrata
Sector Software
Buyer(s) Charles Thayne Capital
HGGC
Silver Lake
Dragoneer Investment Group
Deal Type Buyout (LBO, MBO, MBI)

Target

Entrata

Lehi, Utah, United States
Entrata provides property management software with a single-login, open-access platform as a service (PaaS) system. Offering a wide variety of online tools including websites, mobile apps, payments, lease signing, accounting, and resident management. Entrata was founded in 2003 and is based in Lehi, Utah.

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Buyer(S) 4

Buyer

Charles Thayne Capital

Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2020
Size Small
Type Sector Agnostic
DESCRIPTION

Charles Thayne Capital is a private investment firm focused on partnering with growth-oriented companies in a variety of sectors. Charles Thayne Capital was formed in 2020 and is based in Chicago, Illinois.

DEAL STATS #
Overall 3 of 4
Sector (Software) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 3 of 4
State (Utah) 2 of 2
Country (United States) 3 of 4
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-27 Marq

Salt Lake City, Utah, United States

Marq provides design and brand templating software that empowers the easy creation and management of branded content. Marq was founded in 2014 and is based in Salt Lake City, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-11 nClouds

San Francisco, California, United States

nClouds is a technology-enabled provider of cloud and DevOps services. The company partners with customers to build and manage modern infrastructure solutions on the cloud that enable organizations to deliver innovation faster. nClouds provides services in the areas of modern cloud operations, DevOps, cloud migration, site reliability engineering (SRE), data & analytics, 24/7 support, and staff augmentation. nClouds was founded in 2012 and is based in San Francisco, California.

Buy -
Buyer

HGGC

Palo Alto, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2007
PE ASSETS 6.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HGGC (formerly Huntsman Gay Global Capital) focuses on middle-market leveraged buyouts, growth equity financings, recapitalizations, take privates, and corporate divestitures. The Firm primarily targets North American companies, but will consider international opportunities as well. HGGC looks for companies with at least $100 million in revenue. HGGC primarily targets enterprise software companies, however, the Firm will also consider opportunities in business services, consumer services, financial services, healthcare, industrial services, and information services. HGGC was formed in 2007 and is based in Palo Alto, California.

DEAL STATS #
Overall 44 of 46
Sector (Software) 8 of 8
Type (Buyout (LBO, MBO, MBI)) 11 of 11
State (Utah) 2 of 3
Country (United States) 38 of 40
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-10 Aventri

Norwalk, Connecticut, United States

Aventri is a provider of cloud-based analytics and data-driven end-to-end event management and venue sourcing solutions. Open-source platform delivers innovative technology solutions to streamline the event process, providing real-time data and analytics on event performance, customer engagement, and increasing measurable event ROI. Aventri was formed in 2008 and is based in Norwalk, Connecticut.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-14 Upland

Austin, Texas, United States

Upland develops and delivers cloud-based project, portfolio, and work management software applications for enterprises in the United States and internationally. Upland provides seven enterprise cloud solution suites that enable more than one million users at over 9,000 accounts to win and engage customers, automate business operations, manage projects and IT costs, and share knowledge throughout the enterprise. Upland was founded in 2010 and is based in Austin, Texas.

Buy -
Buyer

Silver Lake

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 104.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Silver Lake is a mega-sized private equity firm focused on a broad range of growth investments in and acquisitions of technology companies. Silver Lake is subdivided into several investing groups including Silver Lake Partners, Silver Lake Sumeru, Silver Lake Waterman, Silver Lake Alpine, and Silver Lake Kraftwerk. Silver Lake Partners pursues large-scale private investments in companies within the technology, tech-enabled and related growth industries. Silver Lake Sumeru invests in middle market technology companies with established business models and attractive growth prospects where there is an opportunity to create value through operational transformation. Silver Lake Waterman provides growth capital to later-stage companies in the technology and technology-enabled industries, offering flexible solutions to finance expansion and acquisitions. Silver Lake Alpine is Silver Lake's debt and credit investing arm. Silver Lake Kraftwerk provides growth capital to technology and tech-enabled businesses driving efficiency across the operations, energy, and resources industries. Silver Lake Partners was formed in 1999 is headquartered in Menlo Park, California.

DEAL STATS #
Overall 128 of 135
Sector (Software) 27 of 27
Type (Buyout (LBO, MBO, MBI)) 10 of 10
State (Utah) 2 of 3
Country (United States) 89 of 95
Year (2022) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-08 Alchemy

San Francisco, California, United States

Alchemy is a Web3 development platform enabling users to build and operate decentralized applications on blockchains with reliability, data accuracy, speed, and scalability. Alchemy is based in San Francisco, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-14 Shadowbox Studios

Atlanta, Georgia, United States

Shadowbox Studios develops, owns, and operates state-of-the-art soundstages for film and media production, and provides a range of on-site support services for clients. Shadowbox Studios was formed in 2017 and is based in Atlanta, Georgia.

Buy -
Buyer

Dragoneer Investment Group

Investor

Category Private Equity Firm
Founded 2012
Size Small
Type Sector Agnostic
DESCRIPTION

Dragoneer Investment Group is a growth-oriented investor in public and private companies throughout the US. Dragoneer Investment Group was established in 2012 and is headquartered in San Francisco, California.

DEAL STATS #
Overall 7 of 9
Sector (Software) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 1 of 1
State (Utah) 1 of 1
Country (United States) 5 of 6
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-11 CampusLogic

Chandler, Arizona, United States

CampusLogic delivers SaaS technology that helps colleges and universities remove barriers in the financial aid process. The company currently helps nearly 800 schools increase enrollment, retention, and graduation rates with the most comprehensive platform of Student Financial Success products. CampusLogic was formed in 2011 and is based in Chandler, Arizona.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-10 Arco

Sao Paulo, Brazil

Arco provides hundreds of thousands of students' education services. Arco's data-driven learning methodology, proprietary adaptable curriculum, interactive hybrid content, and high-quality pedagogical services allow students to personalize their learning experience while enabling schools to thrive. Arco was founded in 1941 and is based in Sao Paulo, Brazil.

Buy $1.5B
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