M&A Deal Summary

ICV Capital Partners, Argosy Private Equity, Spotlight Equity Partners and Virgo Capital Acquire SirsiDynix

On January 6, 2015, private equity firms ICV Capital Partners, Argosy Private Equity, Spotlight Equity Partners and Virgo Capital acquired software company SirsiDynix from Vista Equity Partners

Acquisition Highlights
  • This is ICV Capital Partners’ 1st, Argosy Private Equity’s 1st, Spotlight Equity Partners’ 3rd and Virgo Capital’s 4th transaction in the Software sector.
  • This is ICV Capital Partners’ 17th, Argosy Private Equity’s 54th, Spotlight Equity Partners’ 4th and Virgo Capital’s 6th transaction in the United States.
  • This is ICV Capital Partners’ 1st, Argosy Private Equity’s 1st, Spotlight Equity Partners’ 1st and Virgo Capital’s 1st transaction in Utah.

M&A Deal Summary
Date 2015-01-06
Target SirsiDynix
Sector Software
Buyer(s) ICV Capital Partners
Argosy Private Equity
Spotlight Equity Partners
Virgo Capital
Sellers(s) Vista Equity Partners
Deal Type Secondary Buyout

Target

SirsiDynix

Lehi, Utah, United States
SirsiDynix is a provider of integrated library systems (ILS) software, which is specialized enterprise resource planning software for libraries used to automate and optimize the entire operation of a library as well as enhance a library’s ability to serve its users and community. SirsiDynix was founded in 1979 and is based in Lehi, Utah.

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Buyer(S) 4

Buyer

ICV Capital Partners

Miami, Florida, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

ICV Capital Partners is a private equity firm focused on making equity investments in US-based middle-market companies. ICV seeks control investments in companies with annual revenues between $25 and $300 million and EBITDA between $10 and $40 million. ICV prefers businesses with existing/proven management and operating in stable industries. Target transactions include non-core divestitures, take-privates, and acquisitions of private companies in partnership with management. ICV Capital Partners was founded in 1998 and has offices in New York and Atlanta, Georgia.

DEAL STATS #
Overall 18 of 33
Sector (Software) 1 of 1
Type (Secondary Buyout) 7 of 12
State (Utah) 1 of 1
Country (United States) 17 of 31
Year (2015) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-10 OneTouchPoint

Hartland, Wisconsin, United States

OneTouchPoint provides print and document services that include digital document management, data exchange between OTP and its customers, just-in-time production and delivery, variable data printing, document hosting, and customized print solutions. OneTouchPoint was founded in 2007 and is based in Hartland, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-02 Coverall North America

Deerfield Beach, Florida, United States

Coverall North America is a franchisor of commercial cleaning services. The Coverall network has nearly 8,300 franchise business owners with 43 master owned business locations. Coverall North America was founded in 1985 and is based in Deerfield Beach, Florida.

Buy -
Buyer

Argosy Private Equity

Wayne, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1990
PE ASSETS 575M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Argosy Private Equity is the private equity arm of Argosy Capital, an asset management firm. Argosy Private Equity provides both debt and equity capital to lower middle-market companies located throughout the US. Argosy focuses on growth companies with experienced management teams and revenues between $15 and $100 million and EBITDA of $3 to $9 million. Argosy looks to invest $5 - $20 million per transaction. Specific areas of interest include manufacturing, business services, franchising and Value added distributions. The Firm will consider a variety of transaction types, including MBO’s, recapitalizations, growth equity and acquisitions. Argosy was formed in 1990 and is based in Wayne, Pennsylvania.

DEAL STATS #
Overall 54 of 88
Sector (Software) 1 of 1
Type (Secondary Buyout) 4 of 11
State (Utah) 1 of 3
Country (United States) 54 of 88
Year (2015) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-07 Flow Dry Technology

Brookville, Ohio, United States

Flow Dry Technology is a designer and manufacturer of highly innovative, integrated solutions for the automotive, industrial, and healthcare industries. Flow Dry’s products include desiccant bags, value-added assemblies, and other sealant solutions to protect valuable systems from costly moisture damage. Flow Dry Technology was founded in 1946 and is based in Brookville, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-26 Library Systems & Services

Riverside, California, United States

Library Systems & Services is a provider of outsourced library management services to municipalities in the United States. The company provides comprehensive, turnkey management services. Library Systems & Services was founded in 1981 and is based in Riverside, California.

Buy -
Buyer

Spotlight Equity Partners

San Francisco, California, United States
Category Private Equity Firm
Founded 2012
Size Small
Type Sector Focused
DESCRIPTION

Spotlight Equity Partners is a private equity firm focused on middle-market tech and software companies throughout the US. Spotlight looks to invest $5 to $50 million per transaction and generally seeks control. Spotlight Equity Partners has offices in San Francisco and New York City.

DEAL STATS #
Overall 4 of 9
Sector (Software) 3 of 7
Type (Secondary Buyout) 1 of 3
State (Utah) 1 of 1
Country (United States) 4 of 9
Year (2015) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-01 Identity Automation

Houston, Texas, United States

Identity Automation is a provider of Identity and Access Management (IAM) software products that help customers automate and manage individual user identities (provisioning and lifecycle management) while providing attribute-based and role-based user authentication, authorization, and access privileges within and across on-premises and cloud-based enterprise systems. Identity Automation was founded in 2004 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-15 Mitratech

Austin, Texas, United States

Mitratech is a provider of corporate legal process automation and compliance management software to Fortune 1000 companies. Mitratech’s unified platform enables open, flexible enterprise and extra price collaboration in high-liability corporate operations. Mitratech was founded in 1987 and is based in Austin, Texas.

Buy -
Buyer

Virgo Capital

Austin, Texas, United States

Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 100M USD
Size Small
Type Sector Focused
DESCRIPTION

Virgo Capital is a private equity firm focused on making control investments in lower middle-market software and technology-enabled service companies. Virgo Capital pursues businesses with revenues between $10 and $30 million. Virgo Capital was formed in 2005 and has offices in Austin, Texas and Oklahoma City, Oklahoma.

DEAL STATS #
Overall 6 of 9
Sector (Software) 4 of 4
Type (Secondary Buyout) 1 of 1
State (Utah) 1 of 1
Country (United States) 6 of 9
Year (2015) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-29 Tibco

Palo Alto, California, United States

Tibco is a provider of middleware and infrastructure software. Tibco's standards-based software platform enables customers to create flexible, event-driven applications from infrastructure and deliver real-time, actionable insights. Tibco was formed in 1985 and is based in Palo Alto, California.

Buy $4.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-04 Sayers Technology

Vernon Hills, Illinois, United States

Sayers Technology is a provider of data center infrastructure and enterprise security products and other IT solutions to over 250 large and middle-market enterprises in various sectors, including financial services, insurance, healthcare, manufacturing, and utilities. Sayers Technology was founded in 1984 and is based in Vernon Hills, Illinois.

Buy -

Seller(S) 1

SELLER

Vista Equity Partners

Austin, Texas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 100.0B USD
Size Mega
Type Sector Focused
DESCRIPTION
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.

Vista Equity Partners is a mega-sized asset management firm focused on private equity, public equity, credit, and other strategies. The Firm's private equity group looks to invest in and acquire software and technology enabled services companies. Specific areas of interest include software, software-as-a-service (SaaS), technology-enabled business services, and technology-enabled information services. Vista can commit up to $700 million per transaction and will consider a variety transaction situations, including management/leveraged buyouts, growth or acquisition financings, recapitalizations or restructurings, spinouts, and take privates. Vista Equity Partners was formed in 2000 and is based in Austin, Texas.

DEAL STATS #
Overall 23 of 70
Sector (Software) 9 of 28
Type (Secondary Buyout) 8 of 17
State (Utah) 1 of 1
Country (United States) 20 of 65
Year (2015) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-01 LifeLoop

Greenwood Village, Colorado, United States

LifeLoop is a provider of a technology platform that improves the lives of residents living in long-term care facilities, reduces costs for payers, and enhances caregiver effectiveness. LifeLoop was founded in 1999 and is based in Greenwood Village, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-19 Advanced

Birmingham, United Kingdom

Advanced is a provider of software and IT services to the public, private, and not-for-profit sectors which enable organizations to improve efficiency, reduce costs and drive growth. Advanced Computer Software Group is based in Birmingham, United Kingdom.

Buy £750M
Mergr

Product

Company

Legal