M&A Deal Summary

Luminate Capital Partners Acquires Axonify

On April 20, 2021, private equity firm Luminate Capital Partners acquired internet software and services company Axonify from JMI Equity

Acquisition Highlights
  • This is Luminate Capital Partners’ 9th transaction in the Internet Software and Services sector.
  • This is Luminate Capital Partners’ 2nd transaction in Canada.
  • This is Luminate Capital Partners’ 1st transaction in Ontario.

M&A Deal Summary

Date 2021-04-20
Target Axonify
Sector Internet Software and Services
Buyer(s) Luminate Capital Partners
Sellers(s) JMI Equity
Deal Type Secondary Buyout
Advisor(s) Gowling WLG (Legal)

Target

Axonify

Waterloo, Ontario, Canada
Axonify is a SaaS employee knowledge platform that enables organizations to completely modernize corporate learning to achieve specific business outcomes. Powerhouse brands like Walmart, Toyota and Johnson & Johnson are leveraging the Axonify platform to fuel their employees with the knowledge they need to be successful on the job. Axonify was formed in 2011 and is based in Waterloo, Ontario.

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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 14 of 17
Sector (Internet Software and Services) 9 of 10
Type (Secondary Buyout) 2 of 4
State (Ontario) 1 of 1
Country (Canada) 2 of 2
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-27 AMTdirect

Cornelius, North Carolina, United States

AMTdirect LLC is a provider of lease accounting, lease administration, and facilities management solutions for corporate occupiers and lessees. AMTdirect was founded in 1996 and is based in Cornelius, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-29 AutoQuotes

Jacksonville, Florida, United States

AutoQuotes is a technology company that delivers products and solutions for the foodservice equipment and supplies industry, including an online catalog, quotation, and design applications. AutoQuotes was formed in 1990 and is based in Jacksonville, Florida.

Sell -

Seller(S) 1

SELLER

JMI Equity

La Jolla, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 7.5B USD
Size Mega
Type Sector Focused
DESCRIPTION

JMI Equity is a private equity firm focused on investments in software, internet, business service, and healthcare IT. Targeted businesses typically help automate and optimize business and information technology processes. The Firm will consider investments at all stages of development, including early-stage companies, self-funded businesses requiring growth capital, and later stage businesses in need of buyout or recapitalization funding. JMI looks to commit at least $10 million per transaction. JMI Equity was formed in 1992 and maintains offices in San Diego and Baltimore.


DEAL STATS #
Overall 101 of 106
Sector (Internet Software and Services) 20 of 22
Type (Secondary Buyout) 18 of 18
State (Ontario) 5 of 5
Country (Canada) 8 of 8
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-09 Canto

San Francisco, California, United States

Canto is a digital asset management (DAM) software, with customers that include many of today’s top brands. Canto gives marketing teams a simple, visual way to centralize, organize and share all their digital brand assets, empowering them to save valuable time and gain a competitive edge. Canto’s DAM solution has wide applicability to a variety of industry verticals, including retail, manufacturing, education, transportation, hospitality, nonprofit, healthcare, food and beverage, technology, and more. Canto was founded in 1990 and is based in San Francisco, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-15 Greenlight Guru

Indianapolis, Indiana, United States

Greenlight Guru is a medical device success platform that enables device companies across the globe to bring products to market faster by streamlining the registration, approval, and certification processes while providing a single source of truth for quality, product development, and regulatory management. Greenlight Guru was founded in 2006 and is based in Indianapolis, Indiana.

Buy -