M&A Deal Summary

IRIS Acquires SwipeClock

On May 15, 2024, IRIS acquired internet software and services company SwipeClock from Inverness Graham Investments

Acquisition Highlights
  • This is IRIS’s 11th transaction in the Internet Software and Services sector.
  • This is IRIS’s 4th transaction in the United States.
  • This is IRIS’s 1st transaction in Utah.

M&A Deal Summary

Date 2024-05-15
Target SwipeClock
Sector Internet Software and Services
Buyer(s) IRIS
Sellers(s) Inverness Graham Investments
Deal Type Add-on Acquisition
Advisor(s) Piper Sandler & Co. (Financial)
Paul Hastings (Legal)

Target

SwipeClock

South Jordan, Utah, United States
SwipeClock provides cloud‐based integrated workforce management software solutions that include automated time and attendance and advanced scheduling. SwipeClock was founded in 1999 and is based in South Jordan, Utah.

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Buyer(S) 1

Buyer

IRIS

Slough, United Kingdom

Category Company
Founded 1978
Sector Software
DESCRIPTION

IRIS is a private software house supplying business management solutions to over 60,000 customers, from start-ups to large organisations. IRIS was founded in 1978 and is based in Slough, United Kingdom.


DEAL STATS #
Overall 24 of 24
Sector (Internet Software and Services) 11 of 11
Type (Add-on Acquisition) 22 of 22
State (Utah) 1 of 1
Country (United States) 4 of 4
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-28 Apex HCM

Roswell, Georgia, United States

Apex HCM is a provider of cloud-based Human Capital Management technology. Apex's comprehensive suite of products and services includes payroll, payroll tax, human resources, time and attendance, workers' compensation, payroll debit cards and other business management tools normally reserved for large enterprises. Apex's cutting-edge cloud-based technology allows its customers to compete effectively feature-for -feature with larger established firms, while dramatically improving their workforce productivity. Apex HCM was founded in 2008 and is based in Roswell, Georgia.

Buy -

Seller(S) 1

SELLER

Inverness Graham Investments

Newtown Square, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Inverness Graham Investments is the private equity arm of The Graham Group. The Firm looks to make controlling investments in lower mid-market companies throughout the US. Inverness targets capital-efficient businesses with strong/sustainable cash flow, differentiated products, and operating in growing markets. The Firm seeks to commit $20 to $80 million in companies valued up to $75 million. Sectors of interest include aerospace/defense, biotech/pharmaceuticals, building materials, business services, consumer services, packaging, industrial equipment/components, electronic equipment, food/beverages, medical devices/supplies, energy & power products/services, specialty chemicals, and technology hardware. Prospective transaction situations include buyouts, growth capital financings, recapitalizations, consolidations, and divestitures. Inverness Graham Investments was formed in 2003 and is based in Philadelphia. The Firm has an additional office in Los Angeles.


DEAL STATS #
Overall 17 of 17
Sector (Internet Software and Services) 1 of 1
Type (Add-on Acquisition) 9 of 9
State (Utah) 1 of 1
Country (United States) 17 of 17
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-10 BenefitHub

New York City, New York, United States

BenefitHub provides a voluntary benefits and employee engagement platform serving over 10M employees, many of which are employed at global Fortune 1000 enterprise customers including Amazon, Walmart, Lowe’s, Johnson & Johnson, American Airlines, UPS, AT&T and Target. BenefitHub’s cloud-based technology platform enables employers the ability to offer their workforce with access to a large portfolio of voluntary benefits solutions, insurance products and discounted consumer goods and services, improving recruitment and employee retention. BenefitHub was founded in 1999 and is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-06 My Yield

Oelwein, Iowa, United States

My Yield is a specialty seed treatment provider of integrated seed treatment formulations, application systems and agronomic support solutions directly to growers. My Yield is based in Oelwein, Iowa.

Buy -