Investment Summary

H.I.G. Private Equity, TPG and CapitalG Invest In MX

On June 26, 2019, private equity firm H.I.G. Private Equity, private equity firm TPG and corporate investor CapitalG invested in software company MX

Investment Highlights
  • This is H.I.G. Private Equity’s 7th, TPG’s 25th and CapitalG’s 2nd transaction in the Software sector.
  • This is H.I.G. Private Equity’s 169th, TPG’s 232nd and CapitalG’s 24th transaction in the United States.
  • This is H.I.G. Private Equity’s 5th, TPG’s 3rd and CapitalG’s 1st transaction in Utah.

Investment Summary
Date 2019-06-26
Target MX
Sector Software
Investor(s) H.I.G. Private Equity
TPG
CapitalG
Deal Type Venture

Target

MX

Lehi, Utah, United States
MX is a high-growth provider of data management, aggregation, enhancement, and analytics as well as a broader suite of complementary application software to financial institutions and FinTechs. MX was founded in 2010 and is based in Lehi, Utah.

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Investor(S) 3

Investor

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital LLC. The firm focuses on management buyouts, growth equity investments, and recapitalizations of middle market companies with an enterprise value of $50 - $1000 million. The Firm also will consider add-on acquisitions, industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 and has offices in Miami, Atlanta, Boston, and San Francisco. HIG's European affiliate is HIG Europe with offices in London, Hamburg, and Paris.

DEAL STATS #
Overall 250 of 370
Sector (Software) 7 of 12
Type (Venture) 6 of 10
State (Utah) 5 of 6
Country (United States) 169 of 246
Year (2019) 12 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-17 PLIXXENT

Oldenburg, Germany

PLIXXENT is a European supplier of polyurethane systems. PLIXXENT operates four production sites in Germany, the Netherlands, Denmark and Spain and supports its diverse and international customer base in specification, design, development, logistics and aftersales support. Its Polyurethane systems are used in both flexible and rigid foam applications across a variety of industries including construction, energy, insulation, footwear, appliances, furniture and automotive. PLIXXENT was founded in 2019 and is based in Oldenburg, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-01 HOA

Atlanta, Georgia, United States

HOA is an operator of over 430 Hooters restaurants in 44 states and 27 foreign countries. HOA is well-known for its brand of food and fun, featuring a casual beach-theme atmosphere, a menu that features seafood, sandwiches and Hooters nearly, chicken wings, and service provided by the All-American cheerleaders, the Hooters Girls. HOA was founded in 1983 and is based in Atlanta, Georgia.

Sell -
Investor

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor

Category Private Equity Firm
Founded 1992
PE ASSETS 137.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.

DEAL STATS #
Overall 354 of 421
Sector (Software) 25 of 35
Type (Venture) 88 of 94
State (Utah) 3 of 3
Country (United States) 232 of 276
Year (2019) 11 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-13 Nova IVF Fertility

Bangalore, India

Nova IVI Fertility is a provider of fertility treatment services. Nova has aided in more than 25,000 pregnancies and has among the highest success rates across all key metrics in India. Nova IVI Fertility offers the world's most advanced and novel treatment methodologies in IVF like Vitrification, PGS, PGD, ERA among others. Nova IVF Fertility was founded in 2011 and is based in Bangalore, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-10 HotSchedules

Austin, Texas, United States

HotSchedules provides state-of-the-art technology, services and user experiences for the restaurant, retail and hospitality verticals. Over 30,000 customers across 170,000+ locations globally – from large international chains to independent and emerging concepts – rely on HotSchedules’ software and solutions to help them control costs, maintain compliance, improve visibility, increase profitability and drive operational consistency. HotSchedules was founded in 1999 and is based in Austin, Texas.

Sell -
Investor

CapitalG

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Corporate Investor
Founded 2013
PE ASSETS 3.0B USD
Size Large
Type Sector Focused
DESCRIPTION

CapitalG is the growth equity and direct investment arm of Alphabet, Inc. CapitalG invests in emerging tech-enabled service companies and assists with providing tactical advice across key functional areas such as engineering, product, sales, and marketing. CapitalG was formerly known as Google Capital. The Unit was formed in 2013 and is based in San Francisco, California.

DEAL STATS #
Overall 29 of 36
Sector (Software) 2 of 3
Type (Venture) 21 of 27
State (Utah) 1 of 1
Country (United States) 24 of 31
Year (2019) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-12 CrowdStrike

Austin, Texas, United States

CrowdStrike is a global cybersecurity company with an endpoint protection platform built from the ground up to stop breaches. The CrowdStrike Falcon platform’s single lightweight-agent architecture leverages cloud-scale artificial intelligence (AI) and offers real-time protection and visibility across the enterprise, preventing attacks on endpoints on or off the network. CrowdStrike was founded in 2011 and is based in Sunnyvale, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-03 Unqork

New York, New York, United States

Unqork is the pioneer no-code enterprise application platform that helps large companies build, deploy, and manage complex applications without writing a single line of code. Companies use Unqork's drag-and-drop interface to build enterprise applications faster, with higher quality and lower costs than conventional approaches. Unqork was founded in 2017 and is based in New York City.

Buy -
Mergr

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