M&A Deal Summary

LLR Partners and GarMark Partners Acquire Stratix

On September 16, 2022, private equity firm LLR Partners and mezzanine finance firm GarMark Partners acquired software company Stratix from Tailwind

Acquisition Highlights
  • This is LLR Partners’ 24th and GarMark Partners’ 1st transaction in the Software sector.
  • This is LLR Partners’ 121st and GarMark Partners’ 32nd transaction in the United States.
  • This is LLR Partners’ 4th and GarMark Partners’ 1st transaction in Georgia.

M&A Deal Summary

Date 2022-09-16
Target Stratix
Sector Software
Buyer(s) LLR Partners
GarMark Partners
Sellers(s) Tailwind
Deal Type Secondary Buyout
Advisor(s) Guggenheim Securities
Leerink Partners (Financial)

Target

Stratix

Norcross, Georgia, United States
Stratix is a provider of outsourced Managed Mobile Service (MMS) solutions for many of the largest global brands within the retail, manufacturing, transportation and field service industries. Stratix has evolved from a data capture consulting services company to one of the largest national MMS providers with a comprehensive mobile service portfolio. The company leverages deep industry expertise, expansive service offerings and mobile specialization to provide consulting, deployment, software, 24x7 support and asset management services for the enterprise mobile workforce. Stratix was founded in 1983 and is based in Norcross, Georgia.

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Buyer(S) 2

Buyer

LLR Partners

Philadelphia, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

LLR is a private equity firm that makes growth capital, buyout, and recapitalization investments in mid-sized growth companies with sustainable competitive advantages. LLR looks to invest $30 to $150 million per transaction and will consider both control and minority situations. Target companies generally have at least $10 million in annual sales and are valued up to $250 million. Broad industry sectors of interest include general business services, financial services, healthcare services, education, manufacturing, consumer/retail and information technology/software. LLR will consider investments throughout the US with an emphasis on opportunities located in the Eastern and Mid-Atlantic regions of the US. LLR Partners was formed in 1999 and is based in Philadelphia, Pennsylvania.


DEAL STATS #
Overall 122 of 127
Sector (Software) 24 of 25
Type (Secondary Buyout) 14 of 16
State (Georgia) 4 of 4
Country (United States) 121 of 126
Year (2022) 9 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-03 Kemberton

Franklin, Tennessee, United States

Kemberton is a provider of technology-enabled revenue cycle management (RCM) services, specializing in the management and collection of workers’ compensation and motor vehicle accident claims and the resolution of complex insurance denials for hospitals and physician practice groups. Kemberton was founded in 2008 and is based in Brentwood, Tennessee.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-21 PCS Software

Houston, Texas, United States

PCS Software develops and directly markets an integrated transportation management software solution for the inland trucking industry in the United States and Canada. PCS Software was established in 1997 and is based in Houston, Texas.

Buy -
Buyer

GarMark Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1997
PE ASSETS 1.1B USD
Size Large
Type Sector Agnostic
DESCRIPTION

GarMark Partners is a private investment firm that makes debt and equity investments in a wide range of companies. The Firm invests in businesses at various stages of development to facilitate acquisitions, divestitures, recapitalizations, turnarounds or growth. Garmark typically invests between $5 and $30 million with an EBITDA $3 and $25 million. The firm prefers to invest in the sectors of manufacturing/industrial products, distribution, business services, consumer brands, food/nutrition products, transportation, healthcare, retail, and restaurants. GarMark Partners was formed in 1997 and is based in Stamford, Connecticut.


DEAL STATS #
Overall 34 of 34
Sector (Software) 1 of 1
Type (Secondary Buyout) 7 of 7
State (Georgia) 1 of 1
Country (United States) 32 of 32
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-21 FCA Packaging

Moline, Illinois, United States

FCA Packaging is a provider of custom industrial packaging that includes wood, steel, corrugated and hybrid products, as well as expendable, reusable, and returnable solutions. FCA Packaging was founded in 1985 and is based in Moline, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-26 Pro-Vision Video Systems

Byron Center, Michigan, United States

Pro-Vision Video Systems design manufactures, and installs rugged rear vision and video recording systems, body-worn cameras, and video management software for commercial, law enforcement, and transit applications. Pro-Vision Video Systems was founded in 2003 and is based in Byron Center, Michigan.

Sell -

Seller(S) 1

SELLER

Tailwind

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 3.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Tailwind is an independent private equity firm focused on making control investments in companies operating in the healthcare, media/communications, and business services sectors. Tailwind looks to invest $25 to $200 million in profitable businesses valued above $500 million. The Firm seeks companies with proven business models and strong opportunities for growth, either organically or through acquisition. Tailwind Capital was formed in 2003 and is based in New York, New York.


DEAL STATS #
Overall 29 of 33
Sector (Software) 3 of 4
Type (Secondary Buyout) 11 of 13
State (Georgia) 4 of 5
Country (United States) 29 of 33
Year (2022) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-03 Arrowstream

Chicago, Illinois, United States

ArrowStream is an operator, developer of supply chain solutions that address both inbound logistics and supply chain management, optimizing powerful data to provide unprecedented levels of transparency, control, and actionable insight. Arrowstream was founded in 2000 and is based in Chicago, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-02 RANDYS

Everett, Washington, United States

RANDYS is an automotive aftermarket provider of highly engineered components under the Yukon and USA Standard brands. The company's main product categories include differentials, ring & pinion, and axle products that are generally used to improve the towing and/or traction performance of a vehicle. RANDYS was founded in 1982 and is based in Everett, Washington.

Sell -