M&A Deal Summary

Lead Edge Capital and Nadavon Capital Partners Acquire GrowthZone

On May 16, 2023, growth capital firm Lead Edge Capital and family office Nadavon Capital Partners acquired software company GrowthZone from Greenridge Investment Partners and RF Investment Partners

Acquisition Highlights
  • This is Lead Edge Capital’s 7th and Nadavon Capital Partners’ 1st transaction in the Software sector.
  • This is Lead Edge Capital’s 36th and Nadavon Capital Partners’ 5th transaction in the United States.
  • This is Lead Edge Capital’s 1st and Nadavon Capital Partners’ 1st transaction in Minnesota.

M&A Deal Summary
Date 2023-05-16
Target GrowthZone
Sector Software
Buyer(s) Lead Edge Capital
Nadavon Capital Partners
Sellers(s) Greenridge Investment Partners
RF Investment Partners
Deal Type Secondary Buyout
Advisor(s) William Blair (Financial)

Target

GrowthZone

Nisswa, Minnesota, United States
GrowthZone is a provider of software and technology solutions for associations and chambers of commerce. GrowthZone helped over 3,000 member-based organizations grow and retain membership, generate revenue, engage and communicate with members and prospects, and streamline their day-to-day operations. GrowthZone was founded in 1996 and is based in Nisswa, Minnesota.

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Buyer(S) 2

Buyer

Lead Edge Capital

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2009
PE ASSETS 5.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Lead Edge Capital is a growth capital firm focused on software, internet, consumer, and tech-enabled services companies. The Firm has no geographic preferences and will consider both private and public company investments. Leading Edge's investment size is $10 to $200 million. Lead Edge Capital was established in 2009 and is headquartered in New York City.

DEAL STATS #
Overall 44 of 46
Sector (Software) 7 of 7
Type (Secondary Buyout) 1 of 1
State (Minnesota) 1 of 1
Country (United States) 36 of 37
Year (2023) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-24 Revenue Analytics

Atlanta, Georgia, United States

Revenue Analytics is a provider of Pricing SaaS products to the travel and hospitality, media, and manufacturing/distribution industries. Revenue Analytics is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-24 Hakkoda

New York City, New York, United States

Hakkoda is a snowflake services provider helping its customers unlock the power of their data. Through the deployment of scalable teams. Hakkoda offers a range of data modernization services including cloud migration, data governance, strategy & architecture, and BI. Hakkoda was founded in 2021 and is based in New York.

Buy -
Buyer

Nadavon Capital Partners

Investor

Category Family Office
Founded 2014
Size Small
Type Sector Focused
DESCRIPTION

Nadavon Capital Partners is a family office focused on high-growth company investments. The Firm will consider a variety of transaction situations, including growth capital financings, outright acquisitions, and debt financing. Nadavon Capital Partners was established in 2014 and is headquartered in Newport Beach, California.

DEAL STATS #
Overall 5 of 5
Sector (Software) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Minnesota) 1 of 1
Country (United States) 5 of 5
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-19 Accume Partners

Mount Laurel, New Jersey, United States

Accume Partners is a provider of internal auditing, IT auditing, Sarbanes-Oxley compliance and related risk management services. Accume Partners was founded in 1994 and is based in New Jersey City.

Sell -

Seller(S) 2

SELLER

Greenridge Investment Partners

Austin, Texas, United States
Category Private Equity Firm
Founded 2011
Size Small
Type Sector Agnostic
DESCRIPTION

Greenridge Equity Partners is a private equity firm focused on growth equity and buyout investments in emerging companies. The Firm seeks businesses with proven business models, revenue traction, and profits (or visibility to profitability). Target sectors include internet/new media, communications/traditional media, consumer, and business/technology services. Greenridge Equity Partners is based in Austin, Texas.

DEAL STATS #
Overall 4 of 5
Sector (Software) 2 of 2
Type (Secondary Buyout) 2 of 3
State (Minnesota) 1 of 1
Country (United States) 4 of 5
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-05 AppleCare Doctors

Savannah, Georgia, United States

AppleCare Immediate Care is a provider of urgent care and immediate care services to patients in the southeastern United States. AppleCare Immediate Care was founded in 2004 and is based in Savannah, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-06 Covr

Springville, Utah, United States

Covr provides workforce management software to the post-acute care industry. The company's scheduling, communication, and engagement solutions help facilities streamline scheduling workflows, ensure regulatory compliance, and facilitate communication with employees. Covr was formed in 2016 and is based in Springville, Utah.

Buy -
SELLER

RF Investment Partners

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2016
PE ASSETS 683M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

RF Investment Partners is a private investment firm focused on providing flexible capital solutions to small and mid-sized companies. The Firm looks to invest $10 to $40 million of equity/debt capital capital to support businesses with at least $10 million of revenue. Funds are generally used to support buyouts, recapitalizations, acquisitions, shareholder liquidity needs, and family successions. RF Investment Partners was formed in 2016 and is headquartered in New York City.

DEAL STATS #
Overall 6 of 6
Sector (Software) 1 of 1
Type (Secondary Buyout) 3 of 3
State (Minnesota) 1 of 1
Country (United States) 6 of 6
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-09 Ally Waste

Mesa, Arizona, United States

Ally Waste is a provider of valet trash and recycling services to property managers of multi-family housing complexes, student housing, and senior living facilities nationwide. Ally Waste was founded in 2014 and is based in Mesa, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-01 High-End Home Services

United States

High-End Home Services provides home installation and maintenance services to high-end luxury residential customers.

Buy -
Mergr

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