Investment Summary

CID Capital, Svoboda Capital Partners and Adams Street Partners Invest In SPS Commerce

On January 29, 2000, private equity firm CID Capital, private equity firm Svoboda Capital Partners and asset manager Adams Street Partners invested in internet software and services company SPS Commerce

Investment Highlights
  • This is CID Capital’s 1st, Svoboda Capital Partners’ 2nd and Adams Street Partners’ 1st transaction in the Internet Software and Services sector.
  • This is CID Capital’s 1st, Svoboda Capital Partners’ 8th and Adams Street Partners’ 6th transaction in the United States.
  • This is CID Capital’s 1st, Svoboda Capital Partners’ 1st and Adams Street Partners’ 1st transaction in Minnesota.
Investment Fate
  • SPS Commerce went public in 2010.

Investment Summary

Date 2000-01-29
Target SPS Commerce
Sector Internet Software and Services
Investor(s) CID Capital
Svoboda Capital Partners
Adams Street Partners
Deal Type Venture

Target

SPS Commerce

Minneapolis, Minnesota, United States
SPS Commerce is a provider of on-demand supply chain management solutions, providing integration, collaboration, connectivity, visibility and data analytics to thousands of customers worldwide. SPS delivers its solutions over the Internet using a Software-as-a-Service model to improve the way suppliers, retailers, distributors and other customers manage and fulfill orders. SPS Commerce was founded in 1987 and is based in Minneapolis, Minnesota.

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Investor(S) 3

Investor

CID Capital

Carmel, Indiana, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

CID Capital is a private investment firm that makes both venture capital and private equity investments. CID's private equity practice invests $10 to $15 million of equity capital in lower middle-market companies with $10 to $100 million of revenue and at least $3 million of cash-flow. Funds are generally used to support divestitures, management buyouts, leveraged buyouts, shareholder liquidity, recapitalization, and growth financing. Areas of interest include industrial products and services, general distribution, safety and security products, branded consumer products, medical products and services, building products, and food manufacturing. The Firm prefers investments located within the US. CID Capital was formed in 1981 and is based in Indianapolis, Indiana.


DEAL STATS #
Overall 1 of 32
Sector: Internet Software and Services M&A 1 of 1
Type: Venture M&A Deals 1 of 1
State: Minnesota M&A 1 of 1
Country: United States M&A 1 of 31
Year: 2000 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-12-15 Propane Continental

Overland Park, Kansas, United States

Propane Continental operated a wholesale and retail propane distribution company engaged in acquiring and operating retail propane outlets. The Company grew from one retail outlet to over 35 units across the nation.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-10-01 SCN BestCo

Santa Cruz, California, United States

SCN BestCo is a manufacturer of gummy based nutritional products and dietary supplements for consumers of all ages. Santa Cruz Nutritionals develops proprietary formulations and a unique manufacturing process that deliver active ingredients through great tasting, high quality chewable products. SCN BestCo was founded in 1968 and is based in Santa Cruz, California.

Buy -
Investor

Svoboda Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 400M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Svoboda Capital Partners is a private equity firm that seeks buyout, recapitalization, and growth capital investments in mid-sized companies with leading market positions, strong customer relationships, and high margins. Svoboda generally looks to invest up to $25 million in businesses generating sales of $10 to $100 million and EBITDA of $3 to $15 million. Sectors of interest include value-added distribution, business services, and consumer products. Svoboda Capital Partners was formed in 1998 and is based in Chicago, Illinois.


DEAL STATS #
Overall 8 of 47
Sector: Internet Software and Services M&A 2 of 2
Type: Venture M&A Deals 1 of 3
State: Minnesota M&A 1 of 4
Country: United States M&A 8 of 46
Year: 2000 M&A 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-01-01 MilesTek

Denton, Texas, United States

MilesTek Corp. is a designer and manufacturer of wired and wireless communication connectivity products.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-03-01 Peiser s

Maywood, Illinois, United States

Peiser's, Inc. is a distributor of disposable medical supplies to home health care providers and, to some extent, direct to consumers.

Sell -
Investor

Adams Street Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1972
PE ASSETS 60.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Adams Street Partners is a diversified, global investment firm that targets direct, fund of funds, and secondary investments. Adams' direct investing group covers co-investments in buyout transactions, as well as growth equity and venture capital commitments. The direct buyout and growth equity team looks to commit $5 to $30 million per transaction. For venture related investments, commitments of $5 to $20 million are provided to companies in the technology, life sciences and technology enabled services sectors. Typically, target companies have received prior financing from early stage venture firms and are seeking additional capital to fund product development and commercialization. Adams Street Partners was formed in 1972 and is based in Chicago, Illinois.


DEAL STATS #
Overall 6 of 152
Sector: Internet Software and Services M&A 1 of 32
Type: Venture M&A Deals 2 of 102
State: Minnesota M&A 1 of 3
Country: United States M&A 6 of 140
Year: 2000 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-01-01 Vivant Medical

Mountain View, California, United States

Vivant Medical, Inc. is a developer of novel and proprietary microwave ablation technology for the minimally invasive ablation of soft tissue.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-01-01 0-In Design Automation

San Jose, California, United States

0-In Design Automation, Inc. is an electronic design automation (EDA) company providing functional verification products that help verify multi-million gate application-specific integrated circuit (ASIC) and system-on-chip (SoC) designs.

Buy $4M