M&A Deal Summary

Luminate Capital Partners Acquires AbsenceSoft

On September 18, 2024, private equity firm Luminate Capital Partners acquired internet software and services company AbsenceSoft from Bow River Capital

Acquisition Highlights
  • This is Luminate Capital Partners’ 10th transaction in the Internet Software and Services sector.
  • This is Luminate Capital Partners’ 14th transaction in the United States.
  • This is Luminate Capital Partners’ 1st transaction in Colorado.

M&A Deal Summary

Date 2024-09-18
Target AbsenceSoft
Sector Internet Software and Services
Buyer(s) Luminate Capital Partners
Sellers(s) Bow River Capital
Deal Type Secondary Buyout
Advisor(s) Raymond James - Investment Banking (Financial)
Goodwin Procter (Legal)

Target

AbsenceSoft

Golden, Colorado, United States
AbsenceSoft is a cloud-based Total Absence Management platform that delivers modern, easy-to-use, and flexible software to manage FMLA, ADA, Disability, and other forms of leave efficiently and cost-effectively. AbsenceSoft was founded in 2013 and is based in Golden, Colorado.

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Buyer(S) 1

Buyer
DESCRIPTION

Luminate Capital Partners is a private equity group focused on control investments in software and software-enabled businesses. The Firm targets growth-oriented companies 'at an inflection point' looking to take the business to the next level. Specific areas of interest include vertical applications, SaaS, back office and supply chain, marketing automation, e-commerce, data and analytics and software-enabled services. Laminate Capital was formed in 2015 and is based in San Francisco.


DEAL STATS #
Overall 17 of 17
Sector (Internet Software and Services) 10 of 10
Type (Secondary Buyout) 4 of 4
State (Colorado) 1 of 1
Country (United States) 14 of 14
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-12 Quantivate

Bothell, Washington, United States

Quantivate is a SaaS platform that helps financial institutions mitigate enterprise risk, maintain compliance with regulatory requirements, manage organizational policies and procedures, and make informed, risk-based decisions that align with business objectives. Quantivate offers a suite of eight SaaS modules that automate activities across different compliance, risk, and audit functions in a single integrated platform. Quantivate was founded in 2005 and is based in Bothell, Washington.

Sell -

Seller(S) 1

SELLER

Bow River Capital

Denver, Colorado, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Bow River Capital is a private equity firm that provides equity capital and mezzanine debt to high growth companies. The Firm targets businesses generating sales of $25 and $200 million and EBITDA of $5 to $20 million. Bow River will consider investments throughout the US and Canada, however, the Firm's primary focus is on opportunities in the Rocky Mountain and Western regions of the US and Canada. Target industries include manufacturing, distribution, transportation, business and consumer services, financial services, natural resources and real estate. The Firm will consider both control and minority positions. Bow River Capital was established in 2003 and is based in Denver, Colorado.


DEAL STATS #
Overall 22 of 22
Sector (Internet Software and Services) 2 of 2
Type (Secondary Buyout) 4 of 4
State (Colorado) 9 of 9
Country (United States) 19 of 19
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-21 Senior Helpers

Towson, Maryland, United States

Senior Helpers is a franchisor of private pay, professional home care for elderly individuals, with approximately 285 active territories across 39 states. The Company provides specialized programs that have been developed in collaboration with medical experts and offers specialized care services for individuals with Alzheimer's, dementia, and Parkinson's. Senior Helpers was formed in 2002 and is based in Towson, Maryland.

Buy -