Investment Summary

LLR Partners, Bain Capital Tech Opportunities and Thoma Bravo Invest In Suvoda

On December 5, 2019, private equity firm LLR Partners, growth capital firm Bain Capital Tech Opportunities and private equity firm Thoma Bravo invested in internet software and services company Suvoda

Investment Highlights
  • This is LLR Partners’ 10th, Bain Capital Tech Opportunities’ 3rd and Thoma Bravo’s 12th transaction in the Internet Software and Services sector.
  • This is LLR Partners’ 98th, Bain Capital Tech Opportunities’ 2nd and Thoma Bravo’s 81st transaction in the United States.
  • This is LLR Partners’ 23rd, Bain Capital Tech Opportunities’ 1st and Thoma Bravo’s 7th transaction in Pennsylvania.

Investment Summary

Date 2019-12-05
Target Suvoda
Sector Internet Software and Services
Investor(s) LLR Partners
Bain Capital Tech Opportunities
Thoma Bravo
Deal Type Growth Capital

Target

Suvoda

Conshohocken, Pennsylvania, United States
Suvoda is a SaaS company, focused on transforming clinical trials using the power of technology. Suvoda's Interactive Response Technology (IRT) system solves complex patient randomization and clinical trial supply chain challenges, so that customers have peace of mind to focus on their patients. Suvoda was founded in 2012 and is based in Conshohocken, Pennsylvania.

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Investor(S) 3

Investor

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 99 of 129
Sector: Internet Software and Services M&A 10 of 19
Type: Growth Capital M&A Deals 54 of 73
State: Pennsylvania M&A 23 of 25
Country: United States M&A 98 of 128
Year: 2019 M&A 11 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-04 Relay Network

Radnor, Pennsylvania, United States

Relay Network is a personalized mobile engagement company that enables businesses to deliver individualized solutions that simplify and improve the customer experience. Relay Network is based in Radnor, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-17 Geoforce

Plano, Texas, United States

Geoforce is a cloud-based software platform that delivers a unified view of multiple asset types, including non-powered equipment, powered equipment and vehicles, through ruggedized satellite and cellular-based GPS devices. Geoforce was founded in 2007 and is based in Plano, Texas.

Buy -
Investor
DESCRIPTION

Bain Capital Tech Opportunities is the technology oriented investment arm of Bain Capital. The Group is dedicated to partnering with and building growth-focused technology companies across the US. Bain Capital Tech Opportunities is based in Boston, Massachusetts.


DEAL STATS #
Overall 3 of 21
Sector: Internet Software and Services M&A 3 of 8
Type: Growth Capital M&A Deals 3 of 13
State: Pennsylvania M&A 1 of 1
Country: United States M&A 2 of 11
Year: 2019 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-29 A Cloud Guru

Twickenham, United Kingdom

A Cloud Guru is a learning and talent development platform for cloud computing, delivering world-class courses by engineers, for engineers. A Cloud Guru state-of-the-art platform provides both businesses and individuals with the ability to stay current, stay relevant, and deliver results with cloud computing. To date, more than 850,000 students across 186 countries have taken our courses, labs, and quizzes. A Cloud Guru was founded in 2015 and is based in Twickenham, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-15 BioCatch

Tel Aviv, Israel

BioCatch is a digital identity company that delivers behavioral biometrics analyzing human-device interactions to protect users and data. BioCatch was founded in 2011 and is based in Tel Aviv, Israel.

Buy -
Investor

Thoma Bravo

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1980
PE ASSETS 127.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thoma Bravo is a private equity firm that primarily invests in or acquires US-based middle-market businesses. While Thoma Bravo will consider a variety of transaction situations, including take-privates, buyouts, carve-outs, recapitalizations, and growth equity financings, the Firm has a special interest in tech consolidation opportunities. Target companies generally have a history of profitability with EBITDA of at least $20 million. The Firm's equity commitment size range is $100 to $750 million. Sectors of interest include enterprise and infrastructure software, education, distribution, financial services and consumer goods/services. The Firm will not invest in new inventions or technologies, developmental products or services, start-ups, biotech, motion pictures, distressed businesses, oil/gas, or real estate. Thoma Bravo was formerly known as Thoma Cressey Bravo and before that Golder Thoma & Co. The Firm was originally formed in 1980 and is based in Chicago, Illinois.


DEAL STATS #
Overall 88 of 151
Sector: Internet Software and Services M&A 12 of 28
Type: Growth Capital M&A Deals 8 of 19
State: Pennsylvania M&A 7 of 8
Country: United States M&A 81 of 132
Year: 2019 M&A 12 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-04 Instructure

Salt Lake City, Utah, United States

Instructure is a software-as-a-service (SaaS) technology company that makes software that makes people smarter. Instructure was founded in 2008 and is based in Salt Lake City, Utah.

Buy $2.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-16 Autodata Solutions Group

London, Ontario, Canada

Autodata Solutions Group provides SaaS and software solutions that increase the effectiveness of the automotive sales chain and help put vehicles in consumers' driveways. Autodata Solutions Group was founded in 1990 and is based in London, Ontario.

Sell -