M&A Deal Summary

Clearlake Capital and Alberta Investment Management Acquire nThrive - Technology Division

On November 19, 2020, private equity firm Clearlake Capital and pension Alberta Investment Management acquired internet software and services company nThrive - Technology Division from FinThrive

Acquisition Highlights
  • This is Clearlake Capital’s 9th and Alberta Investment Management’s 2nd transaction in the Internet Software and Services sector.
  • This is Clearlake Capital’s 63rd and Alberta Investment Management’s 9th transaction in the United States.
  • This is Clearlake Capital’s 5th and Alberta Investment Management’s 1st transaction in Georgia.

M&A Deal Summary
Date 2020-11-19
Target nThrive - Technology Division
Sector Internet Software and Services
Buyer(s) Clearlake Capital
Alberta Investment Management
Sellers(s) FinThrive
Deal Type Divestiture

Target

nThrive - Technology Division

Alpharetta, Georgia, United States
nThrive's Technology Division is a healthcare revenue cycle management ("RCM") software-as-a-service ("SaaS") platform. nThrive's Technology Division is based in Alpharetta, Georgia.

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Buyer(S) 2

Buyer

Clearlake Capital

Santa Monica, California, United States
Category Private Equity Firm
Founded 2006
PE ASSETS 72.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Clearlake Capital Group is a private equity firm that focuses on corporate divestitures, recapitalizations, buyouts, restructurings, rescue financing, growth capital, turnarounds, and other equity investments. Clearlake seeks to partner with strong management teams by providing long-term capital and operational expertise. Areas of interest include technology, industrials, and consumer. Clearlake Capital Group was formed in 2006 and is based in Santa Monica, California.

DEAL STATS #
Overall 66 of 90
Sector (Internet Software and Services) 9 of 13
Type (Divestiture) 5 of 9
State (Georgia) 5 of 6
Country (United States) 63 of 85
Year (2020) 9 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-18 Wellness Pet

Burlington, Massachusetts, United States

Wellness Pet is an independent natural pet food company that offers nutritional recipes with the highest quality ingredients for dogs and cats. Wellness Pet was established in 1926 and is headquartered in Burlington, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-24 Dimora Brands

Somerville, New Jersey, United States

Dimora Brands is a designer, distributor, and manufacturer of decorative hardware, functional hardware, and other products for the kitchen and bath industries. Dimora Brands was founded in 1994 and is headquartered in Somerville, New Jersey.

Buy -
Buyer

Alberta Investment Management

Investor Investor Investor Investor Investor

Category Pension
Founded 2008
PE ASSETS 4.5B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

Alberta Investment Management Corporation (AIMCo) is a Canadian diversified institutional investment manager serving pension, endowment and government funds in the province of Alberta. In addition to investing in public equities, fixed income, and debt, AIMCo looks to invest in private equity, real estate, timberlands, and infrastructure. AIMCo's private equity group invests in funds and directly in companies throughout North America and Western Europe. Areas of interest include consumer, industrials, business services, financial services, technology, and healthcare. AIMCo is based in Edmonton, with additional offices in Toronto and London.

DEAL STATS #
Overall 21 of 30
Sector (Internet Software and Services) 2 of 4
Type (Divestiture) 5 of 5
State (Georgia) 1 of 1
Country (United States) 9 of 15
Year (2020) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-17 sPower

Salt Lake City, Utah, United States

sPower is an independent power producer (IPP) that owns and/or operates more than 150 utility and commercial distributed electrical generation systems across the U.S. and the UK. With 4.0 gigawatts between operating, construction and pipeline, sPower are actively buying select utility-scale renewable assets in virtually any stage of development in the United States. sPower is based in Salt Lake City, Utah.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-21 RealPage

Richardson, Texas, United States

RealPage is a provider of comprehensive property management software solutions for the multifamily, commercial, single-family and vacation rental housing industries. RealPage was founded in 1998 and is based in Richardson, Texas.

Buy $10.2B

Seller(S) 1

SELLER

FinThrive

Plano, Texas, United States
Category Company
Founded 1998
Sector Internet Software and Services
DESCRIPTION

Finthrive is a healthcare revenue management software-as-a-service (SaaS) provider. ???????FinThrive creates integrated technology that adapts with healthcare professionals – freeing them from complexity and inefficiency so they can focus on doing their best work. FinThrive was founded in 1998 and is based in Plano, Texas.

DEAL STATS #
Overall 1 of 1
Sector (Internet Software and Services) 1 of 1
Type (Divestiture) 1 of 1
State (Georgia) 1 of 1
Country (United States) 1 of 1
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-29 e4e

Towson, Maryland, United States

e4e, Inc. (e4e Healthcare Services) is an IT enabled Services and Business Process Management (Business Process Outsourcing) company that has deep domain and contextual expertise in the US Healthcare Business Services ecosystem, with an enviable client list of reputed companies.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-08 Pelitas

Plano, Texas, United States

Pelitas is a provider of software and solutions to help healthcare providers maximize revenue and reduce inefficiencies throughout the revenue cycle. Pelitas was founded in 2003 and is based in Plano, Texas.

Buy -
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