M&A Deal Summary

Frontline Education Acquires Hayes Software Systems

On June 17, 2021, Frontline Education acquired internet software and services company Hayes Software Systems from Transition Capital Partners and Plexus Capital

Acquisition Highlights
  • This is Frontline Education’s 5th transaction in the Internet Software and Services sector.
  • This is Frontline Education’s 11th transaction in the United States.
  • This is Frontline Education’s 3rd transaction in Texas.

M&A Deal Summary
Date 2021-06-17
Target Hayes Software Systems
Sector Internet Software and Services
Buyer(s) Frontline Education
Sellers(s) Transition Capital Partners
Plexus Capital
Deal Type Add-on Acquisition

Target

Hayes Software Systems

Austin, Texas, United States
Hayes Software Systems is a provider of SaaS software and service solutions designed to educate school districts on how to best manage their inventories. Hayes Software Systems was founded in 1990 and is based in Austin, Texas.

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Buyer(S) 1

Buyer

Frontline Education

Malvern, Pennsylvania, United States
Category Company
Founded 1998
Sector Internet Software and Services
DESCRIPTION

Frontline Education is a provider of cloud-based K-12 software that empowers more than 7,500 school districts and millions of educators to positively impact student learning. Frontline Education was founded in 1998 and is based in Malvern, Pennsylvania.

DEAL STATS #
Overall 11 of 11
Sector (Internet Software and Services) 5 of 5
Type (Add-on Acquisition) 11 of 11
State (Texas) 3 of 3
Country (United States) 11 of 11
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-05 Forecast5 Analytics

Naperville, Illinois, United States

Forecast5 Analytics, Inc. is a provider in public sector data analytics. Forecast5 provides a suite of data rich platforms that help local government leaders make financial, strategic, and academic decisions through better data visibility. These tools assist with financial forecasting and benchmarking, monthly budget performance analysis, student data analysis, data transparency initiatives, and geospatial projects. Forecast5 Analytics was founded in 2012 and is based in Naperville, Illinois.

Buy -

Seller(S) 2

SELLER

Transition Capital Partners

Southlake, Texas, United States

Investor Investor Investor Investor

Category Family Office
Founded 1993
Size Small
Type Sector Agnostic
DESCRIPTION

Transition Capital Partners is a private investment firm focused on leveraged recapitalizations of entrepreneurial service-based businesses. Transition generally looks for high-growth companies with $2 million to $8 million of EBITDA where the firm can help position the company for the next level of growth. Sectors of interest include healthcare services, non-asset based logistics, retail, alternative energy and services, security services, direct marketing, software, branded food/beverage, education, telecom, oil/gas services, and outsourcing. The Firm is affiliated with family office Patterson Thoma Investments. Transition Capital Partners was formed in 1993 and is based in Dallas, Texas.

DEAL STATS #
Overall 26 of 29
Sector (Internet Software and Services) 3 of 3
Type (Add-on Acquisition) 7 of 8
State (Texas) 10 of 12
Country (United States) 26 of 29
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-01 McDaniel Metals

Houston, Texas, United States

McDaniel Metals is a designer and manufacturer of heating, ventilation, and air conditioning (“HVAC”) components used in residential and commercial end markets. McDaniel Metals is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-22 Petroflex

Gainesville, Texas, United States

Petroflex manufactures superior quality, continuous length HDPE (High Density Polyethylene) conduit and accessories for the Electric Utility, Renewables (Wind & Solar), Irrigation, Telecommunications and Data/Voice industries. Petroflex was founded in 1983 and is based in Gainesville, Texas.

Buy -
SELLER

Plexus Capital

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1995
PE ASSETS 2.2B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Plexus Capital is a private equity firm that invests in buyouts, acquisitions, recapitalizations and growth financings in the form of junior and/or equity capital. Plexus focuses on lower middle-market businesses located in the Mid-Atlantic and Southeast areas of the US. The Firm looks for businesses companies in the business services, consumer services, manufacturing, value-added distribution, and healthcare sectors with up to $2 to $15 million of cash-flow. Plexus Capital was formed in 1995 and is based in Charlotte, North Carolina.

DEAL STATS #
Overall 35 of 41
Sector (Internet Software and Services) 3 of 3
Type (Add-on Acquisition) 21 of 23
State (Texas) 4 of 4
Country (United States) 35 of 41
Year (2021) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-01 McDaniel Metals

Houston, Texas, United States

McDaniel Metals is a designer and manufacturer of heating, ventilation, and air conditioning (“HVAC”) components used in residential and commercial end markets. McDaniel Metals is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-17 Machine Specialties

Whitsett, North Carolina, United States

Machine Specialties is a manufacturer of high-precision components for customers in the aerospace and defense, medical, packaging, and industrial industries. With a vast array of CNC milling, turning, grinding, finishing, and assembly capabilities complemented by engineering and prototyping services, MSI can handle the smallest components going into satellite and medical applications to very large parts such as landing gear for military cargo planes. Machine Specialties was founded in 1969 and is based in Whitsett, North Carolina.

Buy -
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