M&A Deal Summary

JMI Equity, Thoma Bravo and Waud Capital Partners Acquire Eptura

On October 4, 2022, private equity firms JMI Equity, Thoma Bravo and Waud Capital Partners acquired internet software and services company Eptura

Acquisition Highlights
  • This is JMI Equity’s 41st, Thoma Bravo’s 23rd and Waud Capital Partners’ 4th transaction in the Internet Software and Services sector.
  • This is JMI Equity’s 109th, Thoma Bravo’s 112th and Waud Capital Partners’ 43rd transaction in the United States.
  • This is JMI Equity’s 5th, Thoma Bravo’s 4th and Waud Capital Partners’ 3rd transaction in Georgia.

M&A Deal Summary

Date 2022-10-04
Target Eptura
Sector Internet Software and Services
Buyer(s) JMI Equity
Thoma Bravo
Waud Capital Partners
Deal Type Consolidation

Target

Eptura

Atlanta, Georgia, United States
Eptura is a global worktech company that provides software solutions for people, workplaces and assets to enable everyone to reach their full potential. With millions of users across 115+ countries, Eptura is trusted by more than 16,000 companies to realize a better future at work. Eptura is based in Atlanta, Georgia.

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Buyer(S) 3

Buyer

JMI Equity

La Jolla, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 7.5B USD
Size Mega
Type Sector Focused
DESCRIPTION

JMI Equity is a private equity firm focused on investments in software, internet, business service, and healthcare IT. Targeted businesses typically help automate and optimize business and information technology processes. The Firm will consider investments at all stages of development, including early-stage companies, self-funded businesses requiring growth capital, and later stage businesses in need of buyout or recapitalization funding. JMI looks to commit at least $10 million per transaction. JMI Equity was formed in 1992 and maintains offices in San Diego and Baltimore.


DEAL STATS #
Overall 124 of 127
Sector (Internet Software and Services) 41 of 41
Type (Consolidation) 1 of 1
State (Georgia) 5 of 5
Country (United States) 109 of 111
Year (2022) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-04 Condeco Software

London, United Kingdom

Condeco Software is a provider of integrated hardware and software solutions which are designed to give companies all the tools they need to make the most of their workplaces, will now offer a combined platform which simplifies the process of video collaboration. Condeco Software was founded in 2005 and is based in London.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-19 Visiting Media

Carlton, Oregon, United States

Visiting Media is a provider of visual sales and marketing solutions for the hospitality and event industries, offering cutting-edge tools designed to open new revenue channels, increase pipeline velocity and promote their customers' spaces throughout the full buying cycle. With their pioneering technology, the company is transforming the hospitality tech landscape, accelerating the use of immersive tech to give their customers access to untapped revenue that is impossible to access without their solutions. Serving major ownership groups, management companies, and brands around the globe, they continue to bring proprietary solutions to the marketplace. Visiting Media is based in Carlton, Oregon.

Buy -
Buyer

Thoma Bravo

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1980
PE ASSETS 127.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thoma Bravo is a private equity firm that primarily invests in or acquires US-based middle-market businesses. While Thoma Bravo will consider a variety of transaction situations, including take-privates, buyouts, carve-outs, recapitalizations, and growth equity financings, the Firm has a special interest in tech consolidation opportunities. Target companies generally have a history of profitability with EBITDA of at least $20 million. The Firm's equity commitment size range is $100 to $750 million. Sectors of interest include enterprise and infrastructure software, education, distribution, financial services and consumer goods/services. The Firm will not invest in new inventions or technologies, developmental products or services, start-ups, biotech, motion pictures, distressed businesses, oil/gas, or real estate. Thoma Bravo was formerly known as Thoma Cressey Bravo and before that Golder Thoma & Co. The Firm was originally formed in 1980 and is based in Chicago, Illinois.


DEAL STATS #
Overall 125 of 139
Sector (Internet Software and Services) 23 of 27
Type (Consolidation) 2 of 2
State (Georgia) 4 of 4
Country (United States) 112 of 120
Year (2022) 8 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-04 Condeco Software

London, United Kingdom

Condeco Software is a provider of integrated hardware and software solutions which are designed to give companies all the tools they need to make the most of their workplaces, will now offer a combined platform which simplifies the process of video collaboration. Condeco Software was founded in 2005 and is based in London.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-11 ForgeRock

San Francisco, California, United States

ForgeRock is the digital identity management company transforming the way organizations interact securely with customers, employees, devices, and things. Organizations adopt the ForgeRock Identity Platform as their digital identity system of record to monetize customer relationships, address stringent regulations for privacy and consent (GDPR, HIPAA, FCC privacy, etc.), and leverage the internet of things. ForgeRock was founded in 2010 and is based in San Francisco, California.

Buy $2.3B
Buyer

Waud Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 3.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Waud Capital Partners is a private equity firm that pursues investments in mid-sized manufacturing, distribution and service companies. Waud looks for businesses with proven management, operating in well defined markets, and that demonstrate strong growth potential. The Firm typically invests $75 to $200 million. Specific areas of interest include adhesives, air/water treatment, alarm monitoring, auto components, coatings, consumer products, home healthcare services, hospitals, lighting, litigation support, medical distribution, petroleum distribution, pharmaceuticals, publishing, sealants, specialty hospitals, and tax consultants. Prospective transaction situations include buyouts, recapitalizations and industry consolidations. Waud Capital Partners was established in 1993 and is based in Chicago, Illinois.


DEAL STATS #
Overall 44 of 48
Sector (Internet Software and Services) 4 of 5
Type (Consolidation) 4 of 6
State (Georgia) 3 of 3
Country (United States) 43 of 47
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-15 GI Alliance

Dallas, Texas, United States

GI Alliance is an independent gastroenterology practice in the US, measured both by provider count and by revenue, operating in Dallas, Fort Worth, Austin, San Antonio, Houston, and several metropolitan markets in Louisiana. GI Alliance was founded in 2018 and is based in Dallas, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-23 Fusion Health

Dallas, Texas, United States

Fusion Health is a provider of clinical staffing services to healthcare facilities, providers, and health plans, solving a variety of episodic clinical resource needs through technology-enabled solutions. Fusion Health is based in Dallas, Texas.

Buy -