M&A Deal Summary

Kingswood Capital Management and Stellus Capital Management Acquire IDX

On November 25, 2024, private equity firms Kingswood Capital Management and Stellus Capital Management acquired software company IDX from ZeroFox

Acquisition Highlights
  • This is Kingswood Capital Management’s 1st and Stellus Capital Management’s 4th transaction in the Software sector.
  • This is Kingswood Capital Management’s 16th and Stellus Capital Management’s 70th transaction in the United States.
  • This is Kingswood Capital Management’s 1st and Stellus Capital Management’s 1st transaction in Oregon.

M&A Deal Summary

Date 2024-11-25
Target IDX
Sector Software
Buyer(s) Kingswood Capital Management
Stellus Capital Management
Sellers(s) ZeroFox
Deal Type Divestiture

Target

IDX

Beaverton, Oregon, United States
IDX is a provider of identity protection and data breach services for companies and individuals throughout the U.S. It combines consumer-centric software and concierge-style professional services in serving organizations across government, healthcare, commercial enterprises, financial institutions, and higher education. IDX was founded in 2003 and is based in Beaverton, Oregon.

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Buyer(S) 2

DESCRIPTION

Kingswood Capital Management is an operationally focused private equity firm focused on complex situations throughout North America. The Firm targets control positions in middle-market companies with revenues of $100 to $500 million. Sectors of interest include business services, consumer, retail, energy, industrials, technology, media, communications, and value-added distribution. Kingswood Capital Management was established in 2013 and is based in Los Angeles, California.


DEAL STATS #
Overall 19 of 22
Sector: Software M&A 1 of 1
Type: Divestiture M&A Deals 8 of 10
State: Oregon M&A 1 of 1
Country: United States M&A 16 of 19
Year: 2024 M&A 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-14 Branding Iron

Sauget, Illinois, United States

Branding Iron manufactures diverse protein products for the food service, retail, and chain restaurant channels. Branding Iron is based in Sauget, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-05-20 Vitamin Shoppe

Secaucus, New Jersey, United States

Vitamin Shoppe is a specialty retailer and direct marketer of vitamins, minerals, and nutritional supplements, offering a broad line of products at discounts to list prices. Vitamin Shoppe was founded in 1977 and is based in Secaucus, New Jersey.

Buy -
Buyer

Stellus Capital Management

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 3.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Stellus Capital Management is a provider of debt and equity capital to middle-market companies headquartered throughout the US and Canada. For credit commitments, Stellus looks to provide $10 to $50 million of capital to help support buyouts, acquisitions, recapitalization, growth opportunities, rescue financing, distressed situations, as well as bridge loans. Sectors' of interest for Stellus' credit practice includes business services, energy, general industrial, government, healthcare, software and specialty finance. Stellus' equity practice seeks to provide $20 to $100 million to small and mid-sized energy (upstream, oilfield services, midstream) companies. Stellus Capital was originally formed in 2004 as Laminar Direct Capital and operated as the direct investing unit of D.E. Shaw. The Group became independent in 2012. Stellus has offices in Houston, New York City, and Washington DC.


DEAL STATS #
Overall 72 of 86
Sector: Software M&A 4 of 4
Type: Divestiture M&A Deals 3 of 4
State: Oregon M&A 1 of 1
Country: United States M&A 70 of 83
Year: 2024 M&A 10 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-12 Norplex Micarta

Postville, Iowa, United States

Norplex Micarta is a producer of high-performance thermoset composite materials. By providing high quality technically advanced composites to unique customer specifications, Norplex Micarta has become the provider of choice for OEMs, fabricators, and distributors serving the electrification and industrial end markets. Norplex Micarta is based in Postville, Iowa.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-03 Combined Caterers

Charlotte, North Carolina, United States

Combined Caterers is a premium event management and catering services provider. Combined Caterers was founded in 1989 and is based in Charlotte, North Carolina.

Buy -

Seller(S) 1

SELLER

ZeroFox

Baltimore, Maryland, United States

Category Company
Founded 2013
Sector Information Technology
Revenue 47M USD (2022)
DESCRIPTION

ZeroFox is a Social Risk Management company that provides enterprises external threat intelligence and protection to disrupt threats to brands, people, assets, and data across the public attack surface in one, comprehensive platform. ZeroFox was founded in 2013 and is based in Baltimore, Maryland.


DEAL STATS #
Overall 1 of 1
Sector: Software M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Oregon M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-17 Lookingglass Cyber Solutions

Reston, Virginia, United States

Lookingglass Cyber Solutions is a provider of threat intelligence driven security and dynamic threat defense software services. Lookingglass Cyber Solutions was founded in 2009 and is based in Reston, Virginia.

Buy $26M