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Investment Summary

Enlightened Hospitality Investments and Vista Equity Partners Exit Tripleseat

On April 27, 2023, private equity firm Enlightened Hospitality Investments, private equity firm Level Equity, growth capital firm General Atlantic and private equity firm Vista Equity Partners invested in internet software and services company Tripleseat from Enlightened Hospitality Investments and Vista Equity Partners

Investment Highlights
  • This is Enlightened Hospitality Investments’ 2nd, Level Equity’s 32nd, General Atlantic’s 74th and Vista Equity Partners’ 45th transaction in the Internet Software and Services sector.
  • This is Enlightened Hospitality Investments’ 2nd, Level Equity’s 51st, General Atlantic’s 165th and Vista Equity Partners’ 128th transaction in the United States.
  • This is Enlightened Hospitality Investments’ 2nd, Level Equity’s 4th, General Atlantic’s 16th and Vista Equity Partners’ 15th transaction in Massachusetts.

Investment Summary
Date 2023-04-27
Target Tripleseat
Sector Internet Software and Services
Investor(s) Enlightened Hospitality Investments
Level Equity
General Atlantic
Vista Equity Partners
Sellers(s) Enlightened Hospitality Investments
Vista Equity Partners
Deal Type Secondary Buyout

Target

Tripleseat

Concord, Massachusetts, United States
Tripleseat is a cloud-based sales and event management application that generates sales and streamlines the planning process for restaurants, hotels, and unique venues. It is the first web-based system created by restaurant event planners for restaurant event planners. Tripleseat was founded in 2008 and is based in Concord, Massachusetts.

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Investor(S) 4

Investor

Enlightened Hospitality Investments

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2016
PE ASSETS 550M USD
Size Small
Type Sector Focused
DESCRIPTION

Enlightened Hospitality Investments (EHI) is a private equity fund that seeks to invest in hospitality focused companies. The Firm typically commits $10 to $25 million in non-control equity to help companies with several successful locations expand their businesses. Enlightened Hospitality Investments was founded in 2016 and is headquartered in New York, New York.

DEAL STATS #
Overall 2 of 2
Sector: Internet Software and Services M&A 2 of 2
Type: Secondary Buyout M&A Deals 2 of 2
State: Massachusetts M&A 2 of 2
Country: United States M&A 2 of 2
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-04 Tripleseat

Concord, Massachusetts, United States

Tripleseat is a cloud-based sales and event management application that generates sales and streamlines the planning process for restaurants, hotels, and unique venues. It is the first web-based system created by restaurant event planners for restaurant event planners. Tripleseat was founded in 2008 and is based in Concord, Massachusetts.

Buy -
Investor

Level Equity

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2009
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Level Equity Management LLC is a private investment firm focused on providing equity and structured capital to growth businesses. Sectors of interest include e-commerce, healthcare services, IT, internet software, and media. Level Equity Management was formed in 2009 and is based in New York City.

DEAL STATS #
Overall 60 of 65
Sector: Internet Software and Services M&A 32 of 33
Type: Secondary Buyout M&A Deals 7 of 9
State: Massachusetts M&A 4 of 4
Country: United States M&A 51 of 55
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-31 Logile

Southlake, Texas, United States

Logile Provides workforce management software and services to enable retail clients, primarily supermarkets, to optimize efficiency, enhance customer service, and increase profitability. Logile was founded in 2005 and is based in Southlake, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-31 WeSpire

Boston, Massachusetts, United States

WeSpire provides software for enterprises to manage complex ESG programs across a diverse/dispersed workforce. WeSpire was founded in 2010 and is based in Boston, Massachusetts.

Sell -
Investor

General Atlantic

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1980
PE ASSETS 105.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

General Atlantic is a large private equity firm that invests globally in growth-oriented public and private companies. Broad areas of interest include financial services, media and consumer, healthcare, enterprise solutions, communications and electronics, and energy. General Atlantic looks to invest $40 to $400 million in transactions that support growth, expansions, buy-outs, consolidations and build-ups. General Atlantic seeks to make 8 to 12 investments per year with an investment horizon of five to ten years. The Firm's geographic coverage spans North America; Europe; Asia/Pacific; and India. General Atlantic was formed in 1980 and is based in New York, New York.

DEAL STATS #
Overall 337 of 364
Sector: Internet Software and Services M&A 74 of 78
Type: Secondary Buyout M&A Deals 23 of 29
State: Massachusetts M&A 16 of 17
Country: United States M&A 165 of 175
Year: 2023 M&A 3 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-20 OneOncology

Nashville, Tennessee, United States

OneOncology empowers community oncology practices with advanced tools and capabilities to help physicians deliver higher-quality cancer care to their patients, close to home, amidst a rapidly evolving cancer care ecosystem. OneOncology was founded in 2018 and is based in Nashville, Tennessee.

Sell $2.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-31 Hostaway

Helsinki, Finland

Hostaway is an all-in-one vacation rental management software solution that partners with property managers in the growth of their business. Hostaway serves professional vacation rental property managers by providing easy-to-use software and serving as a reliable two-way API connection to major online travel agencies. Hostaway was founded in 2015 and is based in Helsinki, Finland.

Buy -
Investor

Vista Equity Partners

Austin, Texas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 100.0B USD
Size Mega
Type Sector Focused
DESCRIPTION
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.

Vista Equity Partners is a mega-sized asset management firm focused on private equity, public equity, credit, and other strategies. The Firm's private equity group looks to invest in and acquire software and technology enabled services companies. Specific areas of interest include software, software-as-a-service (SaaS), technology-enabled business services, and technology-enabled information services. Vista can commit up to $700 million per transaction and will consider a variety transaction situations, including management/leveraged buyouts, growth or acquisition financings, recapitalizations or restructurings, spinouts, and take privates. Vista Equity Partners was formed in 2000 and is based in Austin, Texas.

DEAL STATS #
Overall 138 of 153
Sector: Internet Software and Services M&A 45 of 51
Type: Secondary Buyout M&A Deals 31 of 39
State: Massachusetts M&A 15 of 17
Country: United States M&A 128 of 141
Year: 2023 M&A 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-25 Benchmark Gensuite

Mason, Ohio, United States

Benchmark Gensuite enables companies to implement cross-functional digital systems for EHS, Sustainability, and ESG Reporting through a unified digital platform—locally, globally and across diverse operating profiles. With configurations, and powerful extensions, the Benchmark Gensuite platform helps companies worldwide manage their EHS, Sustainability; Quality; Operational Risk and Compliance; Product Stewardship, and Supply Chain Risks. Benchmark Gensuite is based in Mason, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-08 Resilinc

Milpitas, California, United States

Resilinc is a supply chain mapping, disruption sensing, and resiliency analytics company. The company's early-warning alert system monitors and predicts potential disruptions across suppliers, sites, and materials; platform enables them to collaborate closely with their suppliers and historical data-backed insights give them options on appropriate actions to take. Resilinc is based in Milpitas, California.

Buy -

Seller(S) 2

SELLER

Enlightened Hospitality Investments

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2016
PE ASSETS 550M USD
Size Small
Type Sector Focused
DESCRIPTION

Enlightened Hospitality Investments (EHI) is a private equity fund that seeks to invest in hospitality focused companies. The Firm typically commits $10 to $25 million in non-control equity to help companies with several successful locations expand their businesses. Enlightened Hospitality Investments was founded in 2016 and is headquartered in New York, New York.

DEAL STATS #
Overall 1 of 1
Sector: Internet Software and Services M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
State: Massachusetts M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-04 Tripleseat

Concord, Massachusetts, United States

Tripleseat is a cloud-based sales and event management application that generates sales and streamlines the planning process for restaurants, hotels, and unique venues. It is the first web-based system created by restaurant event planners for restaurant event planners. Tripleseat was founded in 2008 and is based in Concord, Massachusetts.

Buy -
SELLER

Vista Equity Partners

Austin, Texas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 100.0B USD
Size Mega
Type Sector Focused
DESCRIPTION
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.

Vista Equity Partners is a mega-sized asset management firm focused on private equity, public equity, credit, and other strategies. The Firm's private equity group looks to invest in and acquire software and technology enabled services companies. Specific areas of interest include software, software-as-a-service (SaaS), technology-enabled business services, and technology-enabled information services. Vista can commit up to $700 million per transaction and will consider a variety transaction situations, including management/leveraged buyouts, growth or acquisition financings, recapitalizations or restructurings, spinouts, and take privates. Vista Equity Partners was formed in 2000 and is based in Austin, Texas.

DEAL STATS #
Overall 68 of 72
Sector: Internet Software and Services M&A 19 of 21
Type: Secondary Buyout M&A Deals 17 of 17
State: Massachusetts M&A 3 of 4
Country: United States M&A 64 of 68
Year: 2023 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-25 Benchmark Gensuite

Mason, Ohio, United States

Benchmark Gensuite enables companies to implement cross-functional digital systems for EHS, Sustainability, and ESG Reporting through a unified digital platform—locally, globally and across diverse operating profiles. With configurations, and powerful extensions, the Benchmark Gensuite platform helps companies worldwide manage their EHS, Sustainability; Quality; Operational Risk and Compliance; Product Stewardship, and Supply Chain Risks. Benchmark Gensuite is based in Mason, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-08 Resilinc

Milpitas, California, United States

Resilinc is a supply chain mapping, disruption sensing, and resiliency analytics company. The company's early-warning alert system monitors and predicts potential disruptions across suppliers, sites, and materials; platform enables them to collaborate closely with their suppliers and historical data-backed insights give them options on appropriate actions to take. Resilinc is based in Milpitas, California.

Buy -
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