Recapitalization • Software

Gauge Capital Acquires IRTH Solutions

On May 31, 2019, private equity firm Gauge Capital acquired software company IRTH Solutions from Bregal Sagemount

Acquisition Context
  • This is Gauge Capital’s 1st transaction in the Software sector.
  • This is Gauge Capital’s 14th transaction in the United States.
  • This is Gauge Capital’s 1st transaction in Ohio.
Investment Fate
  • IRTH Solutions was sold to a consortium of financial buyers in 2021.
  • IRTH Solutions was sold to a consortium of financial buyers in 2025.

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M&A Deal Summary

Date May 31, 2019
Target IRTH Solutions
Sector Software
Buyer(s) Gauge Capital
Sellers(s) Bregal Sagemount
Deal Type Recapitalization

Target Company

IRTH Solutions

Columbus, Ohio, United States
IRTH Solutions is a provider of software and services to the underground utility damage prevention industry. Irth's customers include blue-chip utilities, telcos, pipeline operators and municipalities. Irth's software enables its customers to receive underground construction activity notifications from One Call Centers electronically via irth’s software, replacing traditional fax and email delivery methods with electronic screen notifications efficiently and accurately using geographic information systems (GIS) to streamline the customer's ticket management process. IRTH Solutions was founded in 1985 and is based in Columbus, Ohio.
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Buyer Overview 1

Buyer

Gauge Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2013
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Gauge Capital is a lower middle-market private equity firm focused on acquiring companies throughout the US and Canada. Gauge seeks businesses operating in the business services, healthcare services, consumer products, and food sectors. The Firm targets companies with $5 to $40 million of EBITDA. Prospective transaction situations include management buyouts, recapitalizations, divestitures, take privates, consolidations, and growth capital financings. Gauge Capital was formed in 2013 and is headquartered in Southlake, Texas.


Deal Context for Buyer #
Overall 14 of 34
Sector: Software 1 of 5
Type: Recapitalization 8 of 14
State: Ohio 1 of 1
Country: United States 14 of 32
Year: 2019 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-22 TVC Pro-Driver

Oklahoma City, Oklahoma, United States

TVC Pro-Driver is a provider of legal services to commercial drivers, with a strong focus on independent drivers and small fleets. The Company, through a network of over 7,000 attorneys, seeks to achieve favorable case outcomes for its drivers, which allows participating drivers to secure employment and stay on the road. In addition to its legal services, TVC also offers a market-leading fuel discount program, roadside assistance, and insurance products to its drivers and their families. TVC Pro-Driver was founded in 1988 and is based in Oklahoma City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-30 Sago

Iselin, New Jersey, United States

Sago is a marketing research company, providing qualitative and quantitative data collection solutions. Sago excels at identifying and recruiting research participants for any study methodology, supported by a proprietary network of global research facilities, technology partnerships, and project management capabilities. Sago was founded in 1966 and is based in Iselin, New Jersey.

Buy -

Seller Profile 1

SELLER

Bregal Sagemount

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2012
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Bregal Sagemount is a growth-focused private capital firm. The Firm provides flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations. Bregal Sagemount invests $8 to $150 million per transaction in a variety of sectors including software, digital infrastructure, healthcare IT, healthcare services, business and consumer services, financial technology, and specialty finance. Bregal Sagemount was formed in 2012 and is headquartered in New York City.


Deal Context for Seller #
Overall 26 of 39
Sector: Software 7 of 10
Type: Recapitalization 1 of 1
State: Ohio 2 of 3
Country: United States 25 of 36
Year: 2019 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-03 Truckstop

New Plymouth, Idaho, United States

Truckstop is a provider of end-to-end technology solutions throughout the freight execution lifecycle in North America. Truckstop has grown to be the largest freight matching marketplace in the industry. Truckstop was founded in 1995 and is based in New Plymouth, Idaho.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-04 Procure Analytics

Atlanta, Georgia, United States

Procure Analytics is software-centric, data-forward group purchasing organization for MRO and Packaging, leveraging $1B+ in buying power to achieve savings for member companies. Procure Analytics was founded in 2009 and is based in Atlanta, Georgia.

Buy -