Buyout (LBO, MBO, MBI) • Information Technology

Gemspring Capital and Audax Private Debt Acquire GoldenSource

On May 17, 2022, private equity firm Gemspring Capital and mezzanine finance firm Audax Private Debt acquired information technology company GoldenSource

Acquisition Context
  • This is Gemspring Capital’s 2nd and Audax Private Debt’s 7th transaction in the Information Technology sector.
  • This is Gemspring Capital’s 21st and Audax Private Debt’s 83rd transaction in the United States.
  • This is Gemspring Capital’s 2nd and Audax Private Debt’s 7th transaction in New York.

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M&A Deal Summary

Date May 17, 2022
Target GoldenSource
Sector Information Technology
Buyer(s) Gemspring Capital
Audax Private Debt
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) D.A. Davidson (Financial)

Target Company

GoldenSource

New York, New York, United States
GoldenSource is an independent provider of enterprise data management and master data management solutions to financial services customers worldwide. GoldenSource's offerings enable customers to manage risks, comply with regulatory requirements, and control costs in the middle and back office with a trusted source of complete, consistent information. GoldenSource was founded in 1984 and is based in New York, New York.
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Buyers Overview 2

Buyer

Gemspring Capital


Category Private Equity Firm
Founded 2015
PE ASSETS 3.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Gemspring Capital is a private equity firm focused on making control equity investments and structured equity investments in lower middle-market companies headquartered in the United States and Canada. For platform investments, Gemspring targets companies with $5 to $500 million with strong competitive positions within sustainable market niches. Sectors of interest include business services, distribution/logistics, industrial services, media, technology, software, and niche manufacturing. Gemspring Capital is based in Westport, Connecticut.


Deal Context for Buyer #
Overall 21 of 39
Sector: Information Technology 2 of 3
Type: Buyout (LBO, MBO, MBI) 6 of 13
State: New York 2 of 3
Country: United States 21 of 38
Year: 2022 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-15 Carr & Duff

Huntingdon Valley, Pennsylvania, United States

Carr & Duff is a specialty electrical services provider of value added electrical construction and maintenance services to commercial, institutional, utility and industrial clients. Carr & Duff was founded in 1958 and is based in Huntingdon Valley, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-20 Radancy

New York, New York, United States

Radancy is a provider of enterprise software and services solutions for end-to-end talent sourcing, intelligently solving the most critical challenges for employers and delivering results that strengthen their organizations. Radancy was founded in 1967 and is based in New York, New York.

Sell -
Buyer

Audax Private Debt

New York, New York, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 5.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Mezzanine is the mezzanine finance arm of the Audax Group. The Firm focuses on investing in both private and public, US-based middle market companies with a strong history of cash flows and consistent revenue growth. Audax will consider subordinated mezzanine debt commitments, second lien or junior secured debt, preferred stock and common stock. The Firm seeks to invest in companies with EBITDA between $10 and $100 million. Types of transaction include MBOs, LBOs, growth capital financings, acquisition financings, and recapitalizations. Audax Private Debt is based in New York, New York.


Deal Context for Buyer #
Overall 85 of 120
Sector: Information Technology 7 of 9
Type: Buyout (LBO, MBO, MBI) 23 of 27
State: New York 7 of 10
Country: United States 83 of 118
Year: 2022 5 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-14 TriMech Solutions

Glen Allen, Virginia, United States

TriMech Solutions is a provider of computer-aided design and engineering software, additive and subtractive manufacturing solutions, and associated training, consulting, implementation, and staff augmentation services to customers across a variety of industries. TriMech Solutions was founded in 1998 and is based in Glen Allen, Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-24 Hissho Sushi

Charlotte, North Carolina, United States

Hissho Sushi is a franchisor of turnkey sushi solutions, delivering fresh, premium sushi that customers crave. The company operates over 2,000 franchised locations across the United States, serving grocery stores, college campuses, airports, hospitals, corporate offices, and government facilities. Hissho Sushi was founded in 1998 and is based in Charlotte, North Carolina.

Buy -