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M&A Deal Summary

HgCapital Acquires Nitrogen

On August 25, 2021, private equity firm HgCapital acquired software company Nitrogen from FTV Capital

Acquisition Highlights
  • This is HgCapital’s 39th transaction in the Software sector.
  • This is HgCapital’s 16th transaction in the United States.
  • This is HgCapital’s 1st transaction in California.

M&A Deal Summary
Date 2021-08-25
Target Nitrogen
Sector Software
Buyer(s) HgCapital
Sellers(s) FTV Capital
Deal Type Recapitalization

Target

Nitrogen

Auburn, California, United States
Nitrogen is a software platform for financial advisors that enables advisors to upload and build client portfolios and identify the portfolio’s Risk Number. Nitrogen was founded in 2011 and is based in Auburn, California.

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Buyer(S) 1

Buyer

HgCapital

London, United Kingdom

Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 70.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HgCapital is a European private equity firm focused on a wide range of transactions including public-to-private leveraged buy-outs, management buy-ins, divestitures, and turnarounds. Broad sectors of interest include consumer and leisure, healthcare, industrials, services, technology, media, and renewable energy. The Firm will consider both majority and minority investment positions. HgCapital is the successor to Mercury Capital Partners, a former unit of Merill Lynch which was spun out by management in 2000. HgCapital has offices in London and Munich.

DEAL STATS #
Overall 135 of 152
Sector (Software) 39 of 48
Type (Recapitalization) 3 of 3
State (California) 1 of 2
Country (United States) 16 of 20
Year (2021) 12 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-04 MDT Software

Alpharetta, Georgia, United States

MDT Software develops and sells 'change management' software for manufacturing automation systems. MDT Software provides a secure environment for controlling access to programming code used to program plant floor industrial control and monitoring devices such as PLCs, Operator Interfaces, Robotics, and a wide variety of other devices. In addition to providing this secure environment, MDT Software is capable of detecting and documenting all modifications to plant floor programs. Modifications are summarized for management review. MDT Software was founded in 1987 and is based in Alpharetta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-26 Serrala Group

Norderstedt, Germany

Serrala Group is a B2B fintech software company creating more secure global payment capabilities for every enterprise. Serrala Group provides unparalleled end-to-end services from inbound to outbound payments to its global customers. Serrala Group was established in 1984 and is based in Norderstedt, Germany.

Buy -

Seller(S) 1

SELLER

FTV Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1998
PE ASSETS 6.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

FTV Capital is a multi-stage private equity firm focused on providing capital to high-growth companies. FTV generally seeks to invest in software, business services, and financial services companies which enable financial institutions to expand and to operate more efficiently. Investment proceeds are typically used to fund rapid organic growth, provide shareholder liquidity, pursue add-on acquisitions, or acquire divestitures. FTV prefers to act as the lead or control investor and targets equity commitments of $10 to $85 million per transaction. FTV Capital was established in 1998 and was formerly known as FTVentures. FTV Capital is based in San Francisco with an additional office in New York City.

DEAL STATS #
Overall 48 of 61
Sector (Software) 11 of 15
Type (Recapitalization) 2 of 2
State (California) 14 of 17
Country (United States) 45 of 54
Year (2021) 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-07 LoanPro

Farmington, Utah, United States

LoanPro is a SaaS-based loan management, servicing and collections platform for alternative, fintech and traditional lenders. LoanPro is based in Farmington, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-06 Embroker

San Francisco, California, United States

Embroker is a commercial insurtech platform leveraging predictive modeling powered by proprietary technology to automate insurance underwriting and make the buying process simple, fast and more affordable for businesses to acquire complex coverage tailored to their needs. Embroker is based in San Francisco, California.

Buy -
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