Investment Summary

Spectrum Equity and Growth Street Partners Exits Visual Lease

On October 22, 2024, CoStar invested in internet software and services company Visual Lease from Spectrum Equity and Growth Street Partners

Investment Highlights
  • This is CoStar’s 12th transaction in the Internet Software and Services sector.
  • This is CoStar’s 17th transaction in the United States.
  • This is CoStar’s 1st transaction in New Jersey.

Investment Summary

Date 2024-10-22
Target Visual Lease
Sector Internet Software and Services
Investor(s) CoStar
Sellers(s) Spectrum Equity
Growth Street Partners
Deal Type Add-on Acquisition
Advisor(s) Shea & Company (Financial)

Target

Visual Lease

Woodbridge, New Jersey, United States
Visual Lease is an accounting software provider including comprehensive and sophisticated real estate and equipment lease management and accounting software platforms for public and private companies, government entities and other organizations with 50 to 20,000+ leases. Visual Lease was founded in 1995 and is based in Woodbridge, New Jersey.

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Investor(S) 1

Investor

CoStar

Washington, District of Columbia, United States

Category Company
Founded 1987
Sector Information Services
Employees6,593
Revenue 2.7B USD (2024)
DESCRIPTION
CoStar office in Columbia, Maryland.
CoStar office in Columbia, Maryland.

CoStar is a provider of information services to commercial real estate professionals in the United States and the United Kingdom. CoStar's suite of products offers customers access via the Internet to the most comprehensive, verified database of commercial real estate information. CoStar was incorporated in 1987 and is based in Washington, District of Columbia.


DEAL STATS #
Overall 23 of 25
Sector: Internet Software and Services M&A 12 of 13
Type: Add-on Acquisition M&A Deals 19 of 21
State: New Jersey M&A 1 of 1
Country: United States M&A 17 of 18
Year: 2024 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-22 Matterport

Sunnyvale, California, United States

Matterport is an immersive media technology company that delivers an end-to-end system for creating, modifying, distributing, and navigating immersive 3D and virtual reality (VR) versions of real-world spaces on web and mobile devices. Matterport was founded in 2011 and is based in Sunnyvale, California.

Buy $1.6B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-02-14 Ag-Analytics

Ithaca, New York, United States

Ag-Analytics is an agricultural data company. Ag-Analytics’ cutting-edge AcreValue platform provides an innovative outlet for farmers, land investors, land professionals, and landowners to gather the most accurate insights and data on agricultural land. Ag-Analytics was founded in 2018 and is based in Ithaca, New York.

Buy -

Seller(S) 2

SELLER

Spectrum Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 8.2B USD
Size Mega
Type Sector Focused
DESCRIPTION

Spectrum Equity Management L.P. is a private equity investor focused on service businesses. Spectrum specifically targets established businesses in the media, communications, IT, information, and business services industries. The Firm looks to commit $25 to $150 million of equity capital per transaction and focuses on opportunities throughout North America and Western Europe. Prospective transaction situations include leveraged buyouts, recapitalizations, acquisition financings, and secondary purchases. Spectrum Equity Investors was formed in 1994 and has offices in Boston, Massachusetts and Menlo Park, California.


DEAL STATS #
Overall 76 of 77
Sector: Internet Software and Services M&A 17 of 17
Type: Add-on Acquisition M&A Deals 45 of 46
State: New Jersey M&A 3 of 3
Country: United States M&A 67 of 68
Year: 2024 M&A 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-15 OffSec

New York, New York, United States

OffSec provides online hands-on training and certification for information security professionals. The company's one-of-a-kind mix of practical, hands-on training and certification programs, virtual labs and open-source projects provide practitioners with the highly-desired offensive skills required to advance their careers and better protect their organizations. OffSec was founded in 2006 and is based in New York, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-04-10 Litmus

Cambridge, Massachusetts, United States

Litmus provides email optimization and collaboration solution for marketers. From Pre-Send campaign development and testing to Post-Send insights for future content optimization, it improves marketing performance and strategy, delivering increased subscriber engagement. Litmus was founded in 2005 and is based in Cambridge, Massachusetts.

Sell -
SELLER

Growth Street Partners

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2016
PE ASSETS 200M USD
Size Small
Type Sector Focused
DESCRIPTION

Growth Street Partners is a private investment group focused on providing growth capital to founder led SaaS and tech-enabled services companies across the US. The Firm looks to invest $3 to $15 million in businesses generating $1 to $5 million in annual revenue run rates. Growth Street Partners was formed in 2016 and is headquartered in San Francisco, California.


DEAL STATS #
Overall 4 of 4
Sector: Internet Software and Services M&A 3 of 3
Type: Add-on Acquisition M&A Deals 3 of 3
State: New Jersey M&A 1 of 1
Country: United States M&A 4 of 4
Year: 2024 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-23 Govenda

Pittsburgh, Pennsylvania, United States

Govenda is a board portal and corporate governance software platform that equips corporate boards, C-suites, and in-house legal counsel with advanced capabilities to unify governance workflows to reduce compliance risks and improve decision-making. Govenda is based in Pittsburgh, Pennsylvania.

Sell -