M&A Deal Summary

KKR Acquires apexanalytix

On June 6, 2022, private equity firm KKR acquired software company apexanalytix from Carousel Capital, Twin Bridge Capital Partners and Apogem Capital

Acquisition Highlights
  • This is KKR’s 22nd transaction in the Software sector.
  • This is KKR’s 186th transaction in the United States.
  • This is KKR’s 7th transaction in North Carolina.

M&A Deal Summary

Date 2022-06-06
Target apexanalytix
Sector Software
Buyer(s) KKR
Sellers(s) Carousel Capital
Twin Bridge Capital Partners
Apogem Capital
Deal Type Secondary Buyout
Advisor(s) K&L Gates (Legal)

Target

apexanalytix

Greensboro, North Carolina, United States
apexanalytix is a provider of supplier management, audit, recovery, and compliance software, and services. apexanalytix was founded in 1988 and is based in Greensboro, North Carolina.

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Buyer(S) 1

Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1976
PE ASSETS 510.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 434 of 483
Sector (Software) 22 of 23
Type (Secondary Buyout) 88 of 107
State (North Carolina) 7 of 7
Country (United States) 186 of 210
Year (2022) 13 of 26
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-24 Semperis

Hoboken, New Jersey, United States

Semperis is a pioneer in identity-driven cyber resilience for enterprises, With its multi-layered defense approach before, during, and after an attack, Semperis offers the industry’s most comprehensive security technology for hybrid AD and other identity systems, combined with incident response expertise. Semperis was founded in 2015 and is headquartered in Hoboken, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-08 Contabo

Munich, Germany

Contabo is a cloud infrastructure and hosting provider, offering SMEs, developers, prosumers, and gamers simple, easy-to-use cloud services with a best-in-class price-performance proposition. Contabo is based in Munich, Germany.

Buy -

Seller(S) 3

SELLER

Carousel Capital

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1996
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Carousel Capital is a private investment group that invests in companies headquartered in the Southeast US. The Firm targets leveraged buyouts and recapitalizations of businesses in consumer products/services, business services, and healthcare services. Carousel will consider both the majority and minority situations. Prospective companies are generally valued up to $250 million and have at least $3 million of EBITDA. Carousel Capital was formed in 1996 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 20 of 20
Sector (Software) 2 of 2
Type (Secondary Buyout) 13 of 13
State (North Carolina) 8 of 8
Country (United States) 20 of 20
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-16 Quality Automotive Services

Charlotte, North Carolina, United States

Quality Automotive Services is a franchisee in the Valvoline Instant Oil Change (“VIOC”) system with locations across the Southeast and Midwest. VIOC is the second-largest quick lube operator in the United States, offering superior customer service utilizing Valvoline's product portfolio to deliver quick, easy and trusted preventive maintenance to its consumers. Quality Automotive Services was founded in 2001 and is based in Charlotte, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-29 Reliance Partners

Chattanooga, Tennessee, United States

Reliance Partners is a commercial insurance broker serving the transportation industry. Reliance Partners specializes exclusively in commercial transportation risk management solutions, a unique differentiator within the highly fragmented insurance brokerage industry. Reliance Partners was founded in 2009 and is based in Chattanooga, Tennessee.

Buy -
SELLER

Twin Bridge Capital Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 2.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Twin Bridge Capital Partners, LLC is a private equity firm focused on small and middle-market buyout funds and co-investments. The firm seeks to invest in leveraged buyout funds and non-control equity co-investments across multiple industries. Twin Bridge has raised more than $2.5 billion in the capital since its founding in 2005. The Firm looks for opportunities valued from $100 to $1000 million. Twin Bridge Capital Partners was founded in 2005 and is based in Chicago, Illinois.


DEAL STATS #
Overall 1 of 2
Sector (Software) 1 of 1
Type (Secondary Buyout) 1 of 2
State (North Carolina) 1 of 1
Country (United States) 1 of 2
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-24 Innovate

Calabasas, California, United States

Innovate is a provider of tech-enabled survey and sampling services to market research agencies, consulting firms, and corporations. The company focuses on enhancing the quality of its clients’ market research by using its proprietary software, deep respondent sourcing, and screening expertise, and client service model to provide insights professionals timely access to high quality, unique survey respondent populations. Innovate was founded in 2014 and is based in Calabasas, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-15 Infobase

Dover, Delaware, United States

Infobase is a provider of cloud-based educational solutions, integrating content, tools, and technology to foster lifelong learning and deliver interactive learning experiences. Infobase was founded in 1941 and is based in Dover, Delaware.

Buy -
SELLER

Apogem Capital

Chicago, Illinois, United States

Category Asset Manager
Founded 2001
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apogem Capital is a diversified alternative investment manager and subsidiary of insurance provider, New York Life. Apogem manages a variety of investment strategies including private equity, private credit, and real assets. Within private equity, the Firm looks to make fund, direct, and secondary investments, as well as acquire GP stakes. Within its direct investing activity, Apogem targets mid-sized companies valued up to $250 million and will consider businesses throughout North America and Europe. Apogem Capital formed as the result of New York Life combining PA Capital, Madison Capital Funding, and Goldpoint Partners into one entity. Apogem Capital is based in New York City.


DEAL STATS #
Overall 46 of 52
Sector (Software) 4 of 4
Type (Secondary Buyout) 22 of 25
State (North Carolina) 2 of 2
Country (United States) 46 of 52
Year (2022) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-09 Auveco

Cold Spring, Kentucky, United States

Auveco is a distributor of fasteners to the automotive body hardware aftermarket and general industrial maintenance, repair, and operations space. The Company sells to thousands of wholesale distribution customers who subsequently service hundreds of thousands of collision centers, repair shops, and dealerships located throughout North America. Auveco was founded in 1936 and is based in Cold Spring, Kentucky.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-11 Parker Food Group

Fort Worth, Texas, United States

Parker Food Group is a manufacturer of custom specialty ingredients used by a wide array of well-known food & beverage companies. Parker’s product offerings include toppings, inclusions, grinds, flavor bases, icings, swirls, and other innovative items. It has built a strong and loyal following thanks to its proven R&D team, flexibility, and capabilities to quickly deliver unique offerings using clean-label, natural, and organic ingredients. Parker Food Group was formed in 1926 and is based in Fort Worth, Texas.

Sell -