M&A Deal Summary

CSI Acquires Velocity Solutions

On September 18, 2024, CSI acquired software company Velocity Solutions from H.I.G. Private Equity

Acquisition Highlights
  • This is CSI’s 2nd transaction in the Software sector.
  • This is CSI’s 5th transaction in the United States.
  • This is CSI’s 1st transaction in Florida.

M&A Deal Summary
Date 2024-09-18
Target Velocity Solutions
Sector Software
Buyer(s) CSI
Sellers(s) H.I.G. Private Equity
Deal Type Add-on Acquisition

Target

Velocity Solutions

Fort Lauderdale, Florida, United States
Velocity Solutions provides technology solutions that drive revenue, service, and compliance for community banks and credit unions. The company's Velocity Intelligent Platform powers all of Velocity’s solutions, using machine-led intelligence that delivers powerful analytics, manages risk, and drives revenue, loans, account holder engagement, and non-interest income to its client financial institutions. Velocity Solutions was formed in 1995 and is based in Fort Lauderdale, Florida.

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Buyer(S) 1

Buyer

CSI

Paducah, Kentucky, United States
Category Company
Founded 1965
Sector Internet Software and Services
Employees1,215
Revenue 54M USD (2014)
DESCRIPTION

CSI provides core banking, payments processing, Internet, card services, risk assessment, fraud prevention, network management, regulatory compliance, and document delivery solutions to financial institutions and corporate entities across the nation. CSI was founded in 1965 and is based in Paducah, Kentucky.

DEAL STATS #
Overall 5 of 5
Sector (Software) 2 of 2
Type (Add-on Acquisition) 5 of 5
State (Florida) 1 of 1
Country (United States) 5 of 5
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-01 HEIT

Fort Collins, Colorado, United States

HEIT provides cloud-delivered IT performance, compliance and security managed services to help financial institutions improve profitability and efficiency, reduce risk, and mitigate security threats in the face of market contraction, margin compression and increasingly complex regulatory environments. HEIT's PCS-4 Platform delivers flexible, affordable service levels, handling technology management so financial institutions can focus on core business initiatives.

Buy -

Seller(S) 1

SELLER

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital LLC. The firm focuses on management buyouts, growth equity investments, and recapitalizations of middle market companies with an enterprise value of $50 - $1000 million. The Firm also will consider add-on acquisitions, industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 and has offices in Miami, Atlanta, Boston, and San Francisco. HIG's European affiliate is HIG Europe with offices in London, Hamburg, and Paris.

DEAL STATS #
Overall 174 of 176
Sector (Software) 5 of 5
Type (Add-on Acquisition) 72 of 72
State (Florida) 19 of 19
Country (United States) 120 of 121
Year (2024) 9 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-03 Action Elevator

Millersville, Maryland, United States

Action Elevator is a regional independent elevator services company serving building owners and property managers throughout the Mid-Atlantic region. The Company offers maintenance, repair, and modernization services critical to the operational safety and uptime across the elevator lifecycle. Action Elevator was founded in 2012 and is based in Millersville, Maryland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-25 Greenflash

Houston, Texas, United States

Greenflash acquires, develops, finances, owns, and operates grid-scale energy storage, power generation, and controllable load projects. Greenflash is based in Houston, Texas.

Buy -
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