M&A Deal Summary

Esker Acquires LSQ Funding

On April 20, 2022, Esker acquired financial services company LSQ Funding from Lovell Minnick Partners and Antares Capital

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

M&A Deal Summary

Date 2022-04-20
Target LSQ Funding
Sector Financial Services
Buyer(s) Esker
Sellers(s) Lovell Minnick Partners
Antares Capital
Deal Type Add-on Acquisition

Target

LSQ Funding

Orlando, Florida, United States
LSQ Funding is a technology-enabled provider of invoice and supply chain finance solutions to small and mid-sized businesses across a range of industries and geographies within the United States. The Company primarily provides factoring and asset-based lending solutions and helps clients outsource the back-office administration of accounts receivable management and expedite the cash conversion cycle. LSQ was founded in 1996 and is founded in Orlando, Florida.

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Buyer(S) 1

Buyer

Esker

Lyon, France

Category Company
Founded 1985
Sector Information Technology
Employees1,028
Revenue 179M EUR (2023)
DESCRIPTION

Esker is a document process automation, helping organizations around the world automate their manual business processes with a suite of on-demand and on-premises solutions. Esker was founded in 1985 and is based in Lyon, France.


DEAL STATS #
Overall 8 of 8
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 7 of 7
State (Florida) 2 of 2
Country (United States) 5 of 5
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-05 Market Dojo

Gloucestershire, United Kingdom

Market Dojo is a UK-based eProcurement software company that helps procurement professionals worldwide solve inefficient sourcing and supplier management processes by digitizing these activities quickly and easily. More flexible and cost-effective than legacy software and more effective than emails and spreadsheets, Market Dojo empowers procurement professionals to control their costs, mitigate risk and centralize data. Market Dojo was founded in 2010 and is based in Gloucestershire, United Kingdom.

Buy -

Seller(S) 2

SELLER

Lovell Minnick Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 3.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Lovell Minnick Partners is a private equity firm that targets investments in financial services companies located in North America and Europe. Specific areas of interest include asset management, financial planning, financial product distribution, outsource providers, specialty finance, and related administration and business services companies. The Firm looks to commit $40 to $150 million of equity capital per investment. Prospective transaction situations include divestitures, management buyouts, growth capital financings, and recapitalizations. Lovell Minnick was formed in 1999 and is headquartered in Radnor, Pennsylvania.


DEAL STATS #
Overall 28 of 30
Sector (Financial Services) 24 of 25
Type (Add-on Acquisition) 8 of 9
State (Florida) 2 of 2
Country (United States) 28 of 29
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-09 STP Investment Services

West Chester, Pennsylvania, United States

STP Investment Services is a technology-enabled services company that provides front, middle, and back-office solutions to investment managers, funds, family offices, wealth managers, and plan sponsors providing the service, software, expertise, and confidence needed to focus on their core business objectives. STP provides a broad range of services and SaaS offerings for the financial services industry with capabilities to process all asset classes and meet ever-evolving business requirements. STP Investment Services was founded in 2008 and is based in West Chester, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-09 London & Capital

London, United Kingdom

London & Capital is a specialist wealth and asset manager working with private and institutional clients. London & Capital support its clients in developing financial strategies, investing with a focus on capital preservation, and providing clear, concise global reporting. London & Capital was founded in 1986 and is based in London, United Kingdom.

Buy -
SELLER

Antares Capital

Miami, Florida, United States

Investor Investor


Category Private Equity Firm
Founded 1993
Size Small
Type Sector Agnostic
DESCRIPTION

Antares Capital is a private investment group that targets growth capital financings as well as management buyout opportunities. The Firm focuses on investments based in the Southeast US and Texas. Prospective companies generally have proven business models, modest capital requirements for growth, and operate in large and growing markets. The Firm looks to commit $500k to $5 million per investment. Antares will not invest in real estate, mineral exploration, distributors, franchisees, or project financings. Antares was founded in 1993 and is based in Miami, Florida.


DEAL STATS #
Overall 41 of 44
Sector (Financial Services) 2 of 2
Type (Add-on Acquisition) 17 of 19
State (Florida) 6 of 6
Country (United States) 40 of 43
Year (2022) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-31 OMEGA Environmental Technologies

Irving, Texas, United States

OMEGA Environmental Technologies is an aftermarket distributor of climate control products and other mission-critical components across the light and heavy-duty automotive sectors. OMEGA Environmental Technologies was founded in 1989 and is based in Irving, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-16 Quality Automotive Services

Charlotte, North Carolina, United States

Quality Automotive Services is a franchisee in the Valvoline Instant Oil Change (“VIOC”) system with locations across the Southeast and Midwest. VIOC is the second-largest quick lube operator in the United States, offering superior customer service utilizing Valvoline's product portfolio to deliver quick, easy and trusted preventive maintenance to its consumers. Quality Automotive Services was founded in 2001 and is based in Charlotte, North Carolina.

Buy -