M&A Deal Summary

Madison Dearborn Partners and Audax Private Debt Acquire Unison

On July 12, 2022, private equity firm Madison Dearborn Partners and mezzanine finance firm Audax Private Debt acquired software company Unison from The Carlyle Group

Acquisition Highlights
  • This is Madison Dearborn Partners’ 6th and Audax Private Debt’s 6th transaction in the Software sector.
  • This is Madison Dearborn Partners’ 82nd and Audax Private Debt’s 86th transaction in the United States.
  • This is Madison Dearborn Partners’ 3rd and Audax Private Debt’s 3rd transaction in Virginia.

M&A Deal Summary

Date 2022-07-12
Target Unison
Sector Software
Buyer(s) Madison Dearborn Partners
Audax Private Debt
Sellers(s) The Carlyle Group
Deal Type Secondary Buyout
Advisor(s) PwC Corporate Finance (Financial)
Latham & Watkins (Legal)

Target

Unison

McLean, Virginia, United States
Unison is a provider of purpose-built procurement and contract management software solutions to U.S. federal government agencies and government contractors. All software development and support are done within the USA. For over 30 years, Unison has continually advanced software and insight solutions to help Federal programs efficiently achieve their missions. Unison was founded in 1983 and is based in McLean, Virginia.

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Buyer(S) 2

Buyer

Madison Dearborn Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 31.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Madison Dearborn Partners (MDP) is a large private equity firm that targets buyouts of private or publicly held companies, divestitures of larger companies, recapitalizations of family-owned or closely-held companies, acquisition-oriented financings, and financings to fund internal growth. MDP's target investment size is $100 to $600 million in buyout oriented transactions and $100 to $400 million in growth capital commitments. Areas of interest include basic industries (natural resources, chemicals, energy and power, automotive, building products, food, metals and mining, refining, paper, packaging and forest products, and general manufacturing), as well as communications, consumer products/services, financial services, and healthcare. Madison Dearborn Partners was formed in 1992 and is based in Chicago, Illinois.


DEAL STATS #
Overall 96 of 104
Sector: Software M&A 6 of 6
Type: Secondary Buyout M&A Deals 19 of 20
State: Virginia M&A 3 of 5
Country: United States M&A 82 of 90
Year: 2022 M&A 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-23 BlueCat

Toronto, Ontario, Canada

BlueCat provides software-based Enterprise Domain Name System solutions that offer its customers management tools and security capabilities to manage their increasingly complex internal corporate networks. BlueCat's solutions result in improved network performance, enhanced network visibility, reduced network downtime and strengthened network security. BlueCat was founded in 2001 and is based in Toronto, Ontario.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-01 EVO

Atlanta, Georgia, United States

EVO is a payment technology and services provider that offers an array of innovative, reliable, and secure payment solutions to merchants across the globe EVO was founded in 1989 and is based in Atlanta, Georgia.

Sell $4.0B
Buyer

Audax Private Debt

New York, New York, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 5.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Mezzanine is the mezzanine finance arm of the Audax Group. The Firm focuses on investing in both private and public, US-based middle market companies with a strong history of cash flows and consistent revenue growth. Audax will consider subordinated mezzanine debt commitments, second lien or junior secured debt, preferred stock and common stock. The Firm seeks to invest in companies with EBITDA between $10 and $100 million. Types of transaction include MBOs, LBOs, growth capital financings, acquisition financings, and recapitalizations. Audax Private Debt is based in New York, New York.


DEAL STATS #
Overall 88 of 120
Sector: Software M&A 6 of 8
Type: Secondary Buyout M&A Deals 39 of 58
State: Virginia M&A 3 of 4
Country: United States M&A 86 of 118
Year: 2022 M&A 8 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-13 Cerity Partners

New York, New York, United States

Cerity Partners is a provider of comprehensive financial management services to a diverse spectrum of High Net Worth (“HNW”) individuals and their families, businesses and their executives, and nonprofit organizations. Clarity Partners is based in New York, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-13 Roto-Rooter

Vista, California, United States

Roto-Rooter provides plumbing, drain, and flood restoration services to both commercial and residential property owners. Roto-Rooter was founded in 1974 and is based in Vista, California.

Buy -

Seller(S) 1

SELLER

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 447 of 488
Sector: Software M&A 31 of 35
Type: Secondary Buyout M&A Deals 104 of 119
State: Virginia M&A 19 of 19
Country: United States M&A 244 of 261
Year: 2022 M&A 10 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-28 Varmora

India

Varmora is a domestic tile and bathware company. The company manufactures and sells tiles, bathware and sanitaryware products under the Varmora brand name through its pan-India distribution network of retailers and exclusive brand outlets. Varmora was founded in 1994 and is based in Morbi, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-14 Service King Collision Repair Centers

Richardson, Texas, United States

Service King Collision Repair Centers is a regional multi-shop operator of collision repair facilities in the country, dedicated to offering customers an overall superior service experience. Service King Collision Repair Centers was founded in 1976 and is based in Richardson, Texas.

Sell -