M&A Deal Summary

HKW and Northstar Capital Acquire Civix

On December 21, 2017, private equity firm HKW and mezzanine finance firm Northstar Capital acquired software company Civix from Clearview Capital

Acquisition Highlights
  • This is HKW’s 1st and Northstar Capital’s 1st transaction in the Software sector.
  • This is HKW’s 35th and Northstar Capital’s 81st transaction in the United States.
  • This is HKW’s 1st and Northstar Capital’s 2nd transaction in Louisiana.

M&A Deal Summary
Date 2017-12-21
Target Civix
Sector Software
Buyer(s) HKW
Northstar Capital
Sellers(s) Clearview Capital
Deal Type Secondary Buyout

Target

Civix

Metairie, Louisiana, United States
Civix provides professional services and software products to public sector clients. Software suites include business registration/filings, voter registration, campaign finance, nuclear water chemistry management, and airport management. Civix was founded in 1979 and is based in Metairie, Louisiana.

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Buyer(S) 2

Buyer

HKW

Indianapolis, Indiana, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1903
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Hammond Kennedy Whitney & Company (HKW) is a private equity firm focused on making control investments in mid-sized, 'market leading' companies generating sales of $5 to $75 million. HKW looks for companies with low risk for technological obsolescence, defined growth strategies, and talented management who want to own equity. Target transaction situations include industry consolidations, corporate divestitures, generational changes in ownership, growth equity, management buy-outs and recapitalizations. HKW prefers North American based opportunities. HKW dates back to 1903, however the Firm transitioned from sole to institutional investors in 2001. The Firm has offices in Indianapolis and New York City.

DEAL STATS #
Overall 41 of 54
Sector (Software) 1 of 3
Type (Secondary Buyout) 4 of 6
State (Louisiana) 1 of 1
Country (United States) 35 of 44
Year (2017) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-19 Protect Plus Industries

Hickory, North Carolina, United States

Protect Plus Industries is a manufacturer and distributor of retail air filters and related products for home HVAC systems. Protect Plus Industries was founded in 2003 and is based in Hickory, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-29 Health Resources

Evansville, Indiana, United States

Health Resources, Inc. is a provider of dental benefit programs to employers across Indiana and Kentucky.

Sell -
Buyer

Northstar Capital

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Northstar Capital is a mezzanine finance firm that provides junior capital to middle-market companies operating in the value-added distribution, light manufacturing, business services, financial services, education, and specialty healthcare sectors. Northstar's typical investment size is $5 to $30 million in businesses generating sales of $20 to $300 million with an EBITDA of at least $3 million. Prospective companies have stable cash flows and sustainable margins. Investments typically have maturities of five to eight years. Northstar does not invest in start-ups, real estate development, natural resource exploration, or high technology companies. Northstar Capital was formed in 1993 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 85 of 109
Sector (Software) 1 of 2
Type (Secondary Buyout) 16 of 19
State (Louisiana) 2 of 2
Country (United States) 81 of 104
Year (2017) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-01 Monroe Engineering

Rochester Hills, Michigan, United States

Monroe Engineering is a distributor of a broad portfolio of custom and standard hardware and component products for original equipment manufacturers, as well as maintenance, repair and operations applications. Monroe Engineering serves customers across a wide range of end markets including aerospace, defense, medical, transportation, consumer goods, building products, and other diversified industrial markets. Monroe Engineering was established in 1968 and is headquartered in Rochester Hills, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-21 Blast Deflectors

Reno, Nevada, United States

Blast Deflectors designs and manufactures jet blast deflectors ground run-up enclosures, and end-around taxiway screens for aviation infrastructure applications. Blast Deflectors was founded in 1957 and is based in Reno, Nevada.

Buy -

Seller(S) 1

SELLER

Clearview Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 645M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Clearview Capital LLC is a private equity firm that targets investments in North American companies with operating profits between $4 and $20 million. Sectors of interest include general manufacturing, plastics, food processing, furniture, education, healthcare, outsourcing, distribution, oil field services, consumer products, and industrial. The Firm prefers majority investment situations in transaction types that include corporate divestitures, management buyouts, and ownership transfers of closely-held companies. Clearview Capital was formed in 1999 and has offices in Connecticut, California.

DEAL STATS #
Overall 17 of 24
Sector (Software) 1 of 1
Type (Secondary Buyout) 12 of 17
State (Louisiana) 1 of 1
Country (United States) 17 of 24
Year (2017) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-18 Nielsen-Kellerman

Boothwyn, Pennsylvania, United States

Nielsen-Kellerman designs manufacture and distribute rugged, waterproof environmental and sports performance instruments for active lifestyles and technical applications, including Kestrel Weather & Environmental Meters, Kestrel Ballistics Meters for long-range shooting accuracy, NK Electronics for Rowing and Paddling, and Blue Ocean Rugged Megaphones PA Systems. Nielsen-Kellerman was founded in 1978 and is based in Boothwyn, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-02 Xact Data Discovery

Mission, Kansas, United States

Xact Data Discovery is a provider of eDiscovery, data management, and managed review services for law firms and corporations. XDD helps clients optimize their eDiscovery matters by orchestrating pristine communication between people, processes, technology, and data. The company services include forensics, eDiscovery processing, Relativity hosting, and managed review. XDD has 16 offices throughout the United States and two locations in India. It offers exceptional customer service with a commitment to responsive, transparent, and timely communication to ensure clients remain informed throughout the entire discovery life cycle. Xact Data Discovery was founded in 1994 and is based in Mission, Kansas.

Sell -
Mergr

Product

Company

Legal