Investment Summary

CITG Capital Partners Exits Xeeva

On April 12, 2018, private equity firm PeakEquity Partners invested in internet software and services company Xeeva from CITG Capital Partners

Investment Highlights
  • This is PeakEquity Partners’ 4th transaction in the Internet Software and Services sector.
  • This is PeakEquity Partners’ 5th transaction in the United States.
  • This is PeakEquity Partners’ 1st transaction in Michigan.
Investment Fate
  • Xeeva was sold to a strategic buyer in 2022.

Investment Summary

Date 2018-04-12
Target Xeeva
Sector Internet Software and Services
Investor(s) PeakEquity Partners
Sellers(s) CITG Capital Partners
Deal Type Secondary Buyout

Target

Xeeva

Southfield, Michigan, United States
Xeeva is a provider of intelligent cloud-based procurement software and financial solutions for indirect spend and MRO. Used in over 45 countries and available in 18 languages, their software suite automates the source-to-pay process with open communication for e-invoicing, procurement, and sourcing. Xeeva was founded in 2014 and is based in Southfield, Michigan.

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Investor(S) 1

Investor
DESCRIPTION

PeakEquity Partners is a private equity firm focused on acquiring enterprise software and solutions companies. Specific areas of interest include enterprise infrastructure software, enterprise application software, business analytics, business intelligence, big data, IoT, supply chain management, and information security. PeakEquity looks to invest at least $20 million per transaction and targets businesses with $10 to $50 million of revenue. PeakEquity Partners was formed in 2014 and is based in Radnor, Pennsylvania.


DEAL STATS #
Overall 5 of 9
Sector: Internet Software and Services M&A 4 of 5
Type: Secondary Buyout M&A Deals 1 of 1
State: Michigan M&A 1 of 1
Country: United States M&A 5 of 9
Year: 2018 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-07 Valiant Solutions

Woodbury, New York, United States

Valiant Solutions, Inc. is a provider of Human Capital Management (“HCM”) solutions. Valiant’s solutions are delivered in a Software as a Service (“SaaS”) platform which powers a suite of integrated Payroll, Time & Labor Management, and Human Resources products. Valiant Solutions was established in 1993 and is based in Woodbury, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-26 EnterpriseDB

Bedford, Massachusetts, United States

EnterpriseDB is a provider of Postgres software and services that enable enterprises to reduce their reliance on costly proprietary solutions and slash their database spend by 90% or more. With powerful performance and security enhancements for PostgreSQL, sophisticated management tools for global deployments and database compatibility for Oracle, EnterpriseDB software supports both mission and non-mission critical enterprise applications. EnterpriseDB was founded in 2004 and is based in Bedford, Massachusetts.

Sell -

Seller(S) 1

SELLER

CITG Capital Partners

Troy, Michigan, United States

Category Private Equity Firm
Founded 1974
Size Small
Type Sector Agnostic
DESCRIPTION

CITG Capital Partners is a private equity group focused on investing in growth-oriented, 'entrepreneurial' businesses operating in a variety of sectors. Broad areas of interest include manufacturing, telecommunications, and software. CITG is a 'hands-on' investor, working closely with portfolio companies to generate growth and value. CITG Capital Partners was established in 1974 and is headquartered in Troy, Michigan.


DEAL STATS #
Overall 4 of 4
Sector: Internet Software and Services M&A 1 of 1
Type: Secondary Buyout M&A Deals 2 of 2
State: Michigan M&A 2 of 2
Country: United States M&A 4 of 4
Year: 2018 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-15 LenderLive Network

Glendale, Colorado, United States

LenderLive is a domestic-based mortgage services provider. Through its five divisions, origination services, conduit services, document services, settlement services and loan servicing, LenderLive offers the people, technology and processes to support its clients’ origination, servicing and loan purchase operations.

Sell -