M&A Deal Summary

Legado Capital, Roynat Capital and Argo Management Group Acquire Kivuto Solutions

On March 1, 2018, private equity firm Legado Capital, growth capital firm Roynat Capital and private equity firm Argo Management Group acquired software company Kivuto Solutions

Acquisition Highlights
  • This is Legado Capital’s 1st, Roynat Capital’s 1st and Argo Management Group’s 3rd transaction in the Software sector.
  • This is Legado Capital’s 1st, Roynat Capital’s 2nd and Argo Management Group’s 1st transaction in Canada.
  • This is Legado Capital’s 1st, Roynat Capital’s 1st and Argo Management Group’s 1st transaction in Ontario.
Investment Fate
  • Kivuto Solutions was sold to a strategic buyer in 2023.

M&A Deal Summary

Date 2018-03-01
Target Kivuto Solutions
Sector Software
Buyer(s) Legado Capital
Roynat Capital
Argo Management Group
Deal Type Buyout (LBO, MBO, MBI)

Target

Kivuto Solutions

Ottawa, Ontario, Canada
Kivuto Solutions is a provider of advanced digital distribution and management solutions that enable the secure delivery of digital resources to individuals, businesses, and organizations anywhere in the world. Kivuto simplifies the process of delivering any digital good to any market under virtually any terms and conditions. Over 60,000 academic institutions and departments trust Kivuto to manage and distribute software to their students, faculty and staff. The company distributes software and other digital resources to millions of users in over 185 countries. Kivuto Solutions was founded in 1997 and is based in Ottawa, Ontario.

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Buyer(S) 3

DESCRIPTION

Legado Capital is an investment firm focused on privately held, well-established small to medium-sized businesses. The Firm typically invests in enterprises generating sales between $10 and $40 million and EBITDA of $0.5 to 5 million. Prospective transaction types include management buyouts and growth financings. Sectors of interest include business services, energy services and equipment, environmental, healthcare services, IT, internet software and services, safety/security, staffing, and test/measurement equipment. Legado Capital is based in Calgary, Alberta.


DEAL STATS #
Overall 1 of 1
Sector: Software M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 1 of 1
State: Ontario M&A 1 of 1
Country: Canada M&A 1 of 1
Year: 2018 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-10 Kivuto Solutions

Ottawa, Ontario, Canada

Kivuto Solutions is a provider of advanced digital distribution and management solutions that enable the secure delivery of digital resources to individuals, businesses, and organizations anywhere in the world. Kivuto simplifies the process of delivering any digital good to any market under virtually any terms and conditions. Over 60,000 academic institutions and departments trust Kivuto to manage and distribute software to their students, faculty and staff. The company distributes software and other digital resources to millions of users in over 185 countries. Kivuto Solutions was founded in 1997 and is based in Ottawa, Ontario.

Sell -
Buyer
DESCRIPTION

Roynat Capital is an investment arm within Canada-based bank Scotiabank that looks to provide capital to middle-market businesses for growth and/or liquidity needs. The Firm looks to invest $5 to $20 million for minority stakes in profitable businesses with minimum EBITDA of $2 million. Roynat is sector agnostic and can invest a variety of capital, including common equity, preferred equity, and convertible debt. Roynat Capital is based in Calgary, Alberta.


DEAL STATS #
Overall 2 of 13
Sector: Software M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 1 of 6
State: Ontario M&A 1 of 4
Country: Canada M&A 2 of 13
Year: 2018 M&A 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-11 BID Group

Mirabel, Quebec, Canada

BID Group is one of the largest integrated suppliers of high-performance equipment, engineering and optimization services, and related solutions to the wood-processing industry with over 1,100 employees across 15 facilities in North America. BID Group was founded in 1983 and is based in Mirabel, Quebec.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-28 Stageline Mobile Stage

L'Assomption, Quebec, Canada

Stageline Mobile Stage designs, manufactures, distributes, and rents industry leading, high quality mobile stages of several sizes for live events, across North-America and around the world. Stageline Mobile Stage is based in L'Assomption, Quebec.

Buy -
DESCRIPTION

Argo Management Group is a private investment partnership that specializes in making equity investments in profitable manufacturing, distribution, and service companies with annual sales of $5 to $30 million. Argo will invest up to $10 million in transactions to support family successions, management buyouts, corporate spin-offs, recapitalizations, and buy & build strategies. Argo has a geographic focus primarily in the Midwestern US and Southern Ontario Canada. Argo Management Group is based in Chicago, Illinois.


DEAL STATS #
Overall 5 of 5
Sector: Software M&A 3 of 3
Type: Buyout (LBO, MBO, MBI) M&A Deals 5 of 5
State: Ontario M&A 1 of 1
Country: Canada M&A 1 of 1
Year: 2018 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-17 Oak Patch Gifts

Eugene, Oregon, United States

Oak Patch Gifts LLC is a provider of unique gift and fashion accessory products to independent specialty retailers. Oak Patch Gifts was founded in 1974 and is based in Eugene, Oregon.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-10 Kivuto Solutions

Ottawa, Ontario, Canada

Kivuto Solutions is a provider of advanced digital distribution and management solutions that enable the secure delivery of digital resources to individuals, businesses, and organizations anywhere in the world. Kivuto simplifies the process of delivering any digital good to any market under virtually any terms and conditions. Over 60,000 academic institutions and departments trust Kivuto to manage and distribute software to their students, faculty and staff. The company distributes software and other digital resources to millions of users in over 185 countries. Kivuto Solutions was founded in 1997 and is based in Ottawa, Ontario.

Sell -