M&A Deal Summary

CIVC Partners Acquires Datavail

On January 16, 2024, private equity firm CIVC Partners acquired information technology company Datavail from Lumerity Capital, Catalyst Investors, ORIX Private Equity Solutions, Meritage Funds and Bertram Capital

Acquisition Highlights
  • This is CIVC Partners’ 6th transaction in the Information Technology sector.
  • This is CIVC Partners’ 70th transaction in the United States.
  • This is CIVC Partners’ 5th transaction in Colorado.

M&A Deal Summary

Date 2024-01-16
Target Datavail
Sector Information Technology
Buyer(s) CIVC Partners
Sellers(s) Lumerity Capital
Catalyst Investors
ORIX Private Equity Solutions
Meritage Funds
Bertram Capital
Deal Type Secondary Buyout
Advisor(s) Citizens Capital Markets (Financial)
Lowenstein Sandler (Legal)

Target

Datavail

Broomfield, Colorado, United States
Datavail is a provider of remote database administration (DBA) services in North America. Datavail offers 24/7 managed database services, database design, architecture, and staffing. The company specializes in Oracle, Oracle E-Business Suite, Microsoft SQL Server, MySQL, MongoDB, DB2 and SharePoint, and provides flexible onsite, offsite, and offshore delivery options to meet each customer's unique business needs. Datavail was founded in 2007 and is based in Broomfield, Colorado.

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Buyer(S) 1

Buyer

CIVC Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1970
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

CIVC Partners is a private equity firm that provides buyout and growth capital to middle-market businesses located in the US and Canada. CIVC invests in companies generating sales of $40 - $300 million with an EBITDA of $5 to $25 million. Sectors of interest include Business Services, Information Services, Facility Services, Insurance Services, Transportation & Logistics, Tech-enabled Services, BPO, SaaS, Compliance Services, Corporate Training, IT Services, and Utility Services. The firm invests in the range of $20 - $100 million per transaction. CIVC prefers to be the lead equity sponsor and will consider both majority and minority investment situations. CIVC Partners was formed in 1970 and is based in Chicago, Illinois.


DEAL STATS #
Overall 74 of 76
Sector (Information Technology) 6 of 7
Type (Secondary Buyout) 14 of 15
State (Colorado) 5 of 5
Country (United States) 70 of 72
Year (2024) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-23 Industrial Networking Solutions

Richardson, Texas, United States

INS is a reseller offering a wide range of wired and wireless products for the Internet of Things (“IoT”) market and related engineering and provisioning services. Industrial Networking Solutions was founded in 1998 and is based in Richardson, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-26 HR Green

Cedar Rapids, Iowa, United States

HR Green provides infrastructure design, engineering, and consulting services to public and private sector clients across transportation, water, municipal advisory, broadband, and land development end markets. HR Green brings engineering, technical, and management solutions to clients across the Midwest, South, Mountain West, and California regions. HR Green was formed in 1913 and is based in Cedar Rapids, Iowa.

Buy -

Seller(S) 5

DESCRIPTION


DEAL STATS #
Overall 1 of 1
Sector (Information Technology) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Colorado) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-26 Airtower Networks

Washington, District of Columbia, United States

Airtower Networks is a wireless infrastructure provider that designs, builds, owns, and operates next-generation cellular, private LTE, Wi-Fi, and public safety networks. Airtower Networks is based in Washington, District of Columbia.

Buy -
SELLER

Catalyst Investors

New York, New York, United States

Investor Investor Investor Investor Investor


Category Venture Capital Firm
Founded 1999
PE ASSETS 377M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Catalyst Investors is a specialist private equity firm that targets investments in the media, communications and internet services industries. Specific areas of interest include, video and audio content and distribution, print and online publishing, out-of-home advertising, music publishing, wireless voice and data, wireless spectrum and other infrastructure, outsourced applications providers / software as a service (SAAS), subscription based services, and online advertising. Catalyst looks for the growth companies located in the US and Canada requiring $10 to $60 million in capital. Catalyst prefers businesses with 'high-margin economics', 'defensible market positions', and 'recurring revenues'. Catalyst was formed in 1999 and is based in New York.


DEAL STATS #
Overall 38 of 39
Sector (Information Technology) 2 of 2
Type (Secondary Buyout) 5 of 6
State (Colorado) 4 of 4
Country (United States) 36 of 37
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-18 Clinicient

Portland, Oregon, United States

Clinicient provides web-based practice management systems for Outpatient Rehabilitation practices, giving physical therapy clinics patient scheduling, clinical documentation (EMR), billing and reporting software. Clinicient was founded in 1998 and is based in Portland, Oregon.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-19 Reptrak

Boston, Massachusetts, United States

Reptrak is a cloud-based corporate reputation intelligence platform providing trusted data and insights about a company’s corporate reputation and other intangible assets by measuring how stakeholders feel, think, and act toward the company. Reptrak was founded in 2004 and is based in Boston, Massachusetts.

Sell -
DESCRIPTION

ORIX Mezzanine & Private Equity is the direct investment arm of asset manager ORIX. ORIX Mezzanine & Private Equity looks to invest $10 to $20 million to support buyouts, acquisitions, growth capital needs, and sponsored led transactions of profitable (greater than $5 million of EBITDA) companies throughout North America. ORIX will consider a variety of investment structures, including subordinated and convertible debt to common, preferred and convertible preferred equity. ORIX Mezzanine & Private Equity is headquartered in Dallas, Texas.


DEAL STATS #
Overall 20 of 21
Sector (Information Technology) 1 of 2
Type (Secondary Buyout) 7 of 7
State (Colorado) 1 of 1
Country (United States) 18 of 19
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-26 Midwest Medical Transport

Omaha, Nebraska, United States

Midwest Medical Transport (MMT) is a private interfacility ambulance service company involved in serving Nebraska and surrounding states through full-service locations with a fleet of advanced life support ambulances, state-of-the-art medical helicopters, and wheelchair transfer vans. Midwest Medical Transport was founded in 1987 and is based in Omaha, Nebraska.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-09 Accelalpha

Bellevue, Washington, United States

Accelalpha is a business and IT consulting services firm that provides services across a breadth of industries. Accelalpha primarily focuses on providing end-to-end enterprise solution implementation services and is recognized for its rigorous, results-oriented approach in the development of solutions that deliver tangible results in a short time frame. Accelalpha’s breadth of consulting expertise includes project management, business process re-engineering, solutions architecture, application implementation, technology development, managed services, and systems administration. Accelalpha was founded in 2009 and is based in Bellevue, Washington.

Sell -
SELLER

Meritage Funds

Arvada, Colorado, United States

Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1998
PE ASSETS 1.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Meritage Funds is a private investment firm focused on growth equity opportunities. The Firm targets companies that deliver tech-based services that leverage recurring revenue business models. Areas of interest include businesses that 'enable communications, deliver content, and facilitate commerce'. Prospective transaction situations include direct equity financings, recapitalizations, control acquisitions, consolidations, restructurings, spin-outs and management buy-outs. Meritage typically looks to commit $3 to $20 million over the lifecycle of an investment. Meritage Funds was formed in 1998 and is based in Arvada, Colorado.


DEAL STATS #
Overall 13 of 14
Sector (Information Technology) 4 of 4
Type (Secondary Buyout) 3 of 3
State (Colorado) 2 of 2
Country (United States) 11 of 12
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-19 EdgeConneX

Herndon, Virginia, United States

EdgeConneX builds and operates data centers for cloud, content, network, and other service providers requiring both larger purpose-built facilities as well as edge facilities located closer to consumer and enterprise users to support latency-sensitive applications cost-effectively. EdgeConneX was founded in 2009 and is based in Herndon, Virginia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-22 SmartSky Networks

Morrisville, North Carolina, United States

SmartSky Networks is a producer of disruptive communications technologies for the aviation industry. SmartSky Networks was founded in 2011 and is based in Morrisville, North Carolina.

Sell -
SELLER

Bertram Capital

Foster City, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2006
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Bertram Capital is a private equity firm that targets buyout and growth equity investments in lower middle-market companies. Bertram looks for companies with revenues of $20 to $250 million and EBITDA of $5 to $35 million. Sectors of interest include healthcare services and infrastructure, industrial manufacturing, business and financial services, technology, and internet. Bertram will consider both control and non-control investments. Prospective transaction structures include management buyouts, shareholder liquidity events, acquisitions financing's, growth financing's, and PIPE. Bertram Capital was formed in 2006 and is based in Foster City, California.


DEAL STATS #
Overall 26 of 26
Sector (Information Technology) 1 of 1
Type (Secondary Buyout) 11 of 11
State (Colorado) 1 of 1
Country (United States) 24 of 24
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-28 The Vinyl Outlet

Cheektowaga, New York, United States

The Vinyl Outlet is a direct-to-consumer provider and installer of residential vinyl fencing and decking solutions in Buffalo and Rochester. TVO sources, designs, and installs vinyl fences, decks, porches, and railings for customers with an efficient and one-day installation process. The Company plans to expand geographically and pursue select acquisitions of complementary businesses. The Vinyl Outlet is based in Cheektowaga, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-30 Ridgeline Roofing and Restoration

Odenville, Alabama, United States

Ridgeline Roofing and Restoration is a roofing and restoration company specializing in residential re-roofing services. Ridgeline Roofing and Restoration was founded in 2020 and is based in Odenville, Alabama.

Buy -