M&A Deal Summary

Insight Partners Acquires Resolve Systems

On May 24, 2017, venture capital firm Insight Partners acquired information technology company Resolve Systems from Solis Capital Partners and HCAP Partners

Acquisition Highlights
  • This is Insight Partners’ 6th transaction in the Information Technology sector.
  • This is Insight Partners’ 40th transaction in the United States.
  • This is Insight Partners’ 8th transaction in California.

M&A Deal Summary

Date 2017-05-24
Target Resolve Systems
Sector Information Technology
Buyer(s) Insight Partners
Sellers(s) Solis Capital Partners
HCAP Partners
Deal Type Secondary Buyout
Advisor(s) Pacific Crest Securities, Inc. (Financial)

Target

Resolve Systems

Campbell, California, United States
Resolve Systems is an IT process automation software company that places human ingenuity at the forefront of workplace advancement. Resolve evolved significantly from its ITPA origins into the leading incident response and resolution software platform supporting the network, IT and security operations environments of leading Fortune 500 enterprises throughout the world. Resolve Systems was founded in 2000 and is based in Campbell, California.

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Buyer(S) 1

Buyer

Insight Partners

Investor Investor Investor Investor Investor


Category Venture Capital Firm
Founded 1995
PE ASSETS 90.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Insight Partners is a growth capital investment firm focused on early to later stage investments principally in the software sector. Insight Partners was formed in 1995 and is based in New York, New York.


DEAL STATS #
Overall 49 of 99
Sector: Information Technology M&A 6 of 18
Type: Secondary Buyout M&A Deals 12 of 25
State: California M&A 8 of 19
Country: United States M&A 40 of 79
Year: 2017 M&A 6 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-24 Smartsheet

Bellevue, Washington, United States

Smartsheet is a cloud‑based work management platform designed to help teams plan, track, automate, and report on work across projects and workflows. The Company offers a no‑code platform that integrates with existing systems and scales from individual teams to enterprise portfolios. Smartsheet was founded in 2005 and is based in Bellevue, Washington.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-02 WalkMe

San Francisco, California, United States

WalkMe is a cloud based guidance and engagement platform that helps businesses to simplify the online experiences. WalkMe was founded in 2011 and is based in San Francisco, California.

Buy -

Seller(S) 2

SELLER

Solis Capital Partners

Newport Beach, California, United States

Investor Investor


Category Private Equity Firm
Founded 2002
PE ASSETS 113M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Solis Capital Partners is a private equity firm focused on investing in lower middle-market companies operating in business services, software and related technology, and consumer services. Solis Capital looks to invest $5 to $25 million for majority positions in businesses generating sales of $5 to $100 million. Target companies are typically cash-flow positive and have high barriers to entry. The firm's investment horizon is four to six years. Solis Capital Partners was formed in 2002 and is based in Newport Beach, California with an additional office in San Diego.


DEAL STATS #
Overall 6 of 7
Sector: Information Technology M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
State: California M&A 4 of 5
Country: United States M&A 4 of 5
Year: 2017 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-04 M.L. Kishigo Manufacturing Co.

Santa Ana, California, United States

M.L. Kishigo Manufacturing Co. is engaged in the sale of high visibility clothing and other safety related workwear to distributors throughout the US. M.L. Kishigo Manufacturing Company was founded in 1973 and is based in Santa Ana, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-06 User Research International

Redmond, Washington, United States

User Research International is a specialized provider of highly technical user interface and user experience (UX) research and support services. URI’s clients include leading technology and cloud platform companies, such as Microsoft, Amazon, Google, Adobe and Expedia. User Research International is based in Redmond, Washington.

Buy -
SELLER

HCAP Partners

La Jolla, California, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2000
PE ASSETS 670M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Huntington Capital is a mezzanine finance firm that provides both debt and equity financing to established, lower middle-market companies throughout California and the Southwest US. The Firm targets growth companies with positive cash flow, diversified customers, defensible market positions, and experienced management. The Firm looks to invest $5 to $35 million in companies generating revenues of $10 to $100 million. Areas of interest include manufacturing, services, healthcare, software, homeland security, retail, and information technology. Prospective transaction situations include buyouts, acquisitions, recapitalizations, and growth capital financings. Huntington Capital was formed in 2000 and is based in San Diego, California.


DEAL STATS #
Overall 19 of 36
Sector: Information Technology M&A 2 of 4
Type: Secondary Buyout M&A Deals 4 of 6
State: California M&A 17 of 23
Country: United States M&A 19 of 36
Year: 2017 M&A 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-14 Progistics Distribution

Oakland, California, United States

Progistics Distribution, Inc. is a provider of “last mile” delivery solutions for the B2B, B2C and omnichannel markets using a proprietary technology solution to offer customized service offerings at scale. Logistics Distribution is based in Oakland, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-01 Baked in the Sun

Las Vegas, Nevada, United States

Baked in the Sun, Inc. manufactures quality, fresh and frozen baked goods products for coffee houses, supermarkets, big box retailers, food service, hotels, hospitals, and schools. The Company operates out of a state-of-the-art, British Retail Consortium (BRC) food safety certified facility and distributes directly to customers throughout Southern California (San Diego to Los Angeles) and Las Vegas via the Company's own fleet of delivery trucks and nationally throughout the United States via distributors.

Buy -