M&A Deal Summary

Mitratech Acquires Mineral

On January 9, 2024, Mitratech acquired internet software and services company Mineral from Kennet Partners, Guidepost Growth Equity and HarbourVest Partners

Acquisition Highlights
  • This is Mitratech’s 8th transaction in the Internet Software and Services sector.
  • This is Mitratech’s 19th transaction in the United States.
  • This is Mitratech’s 1st transaction in Oregon.

M&A Deal Summary

Date 2024-01-09
Target Mineral
Sector Internet Software and Services
Buyer(s) Mitratech
Sellers(s) Kennet Partners
Guidepost Growth Equity
HarbourVest Partners
Deal Type Add-on Acquisition

Target

Mineral

Portland, Oregon, United States
Mineral is a cloud-based platform for HR solutions company that provides expert HR-related advice and training to employers. Mineral was founded in 2005 and is based in Portland, Oregon.

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Buyer(S) 1

Buyer

Mitratech

Austin, Texas, United States

Category Company
Founded 1987
Sector Software
DESCRIPTION

Mitratech is a provider of corporate legal process automation and compliance management software to Fortune 1000 companies. Mitratech’s unified platform enables open, flexible enterprise and extra price collaboration in high-liability corporate operations. Mitratech was founded in 1987 and is based in Austin, Texas.


DEAL STATS #
Overall 22 of 23
Sector (Internet Software and Services) 8 of 8
Type (Add-on Acquisition) 21 of 21
State (Oregon) 1 of 1
Country (United States) 19 of 19
Year (2024) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-09 Syntrio

Northbrook, Illinois, United States

Syntrio provides governance, risk, compliance, and human resource solutions that help more than 6,500 organizations make the workplace a better place. Its solutions include a comprehensive ethics reporting hotline and case management system, and seven modern training libraries in employment law and harassment, ethics and compliance, diversity and inclusion, health and safety, business skills, cybersecurity, and hotline learning. Syntrio is based in Northbrook, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-10 HotDocs

Scotland, United Kingdom

HotDocs is a provider of document automation software, with customers in 60 different countries and a user-base, globally, that exceeds one million. HotDocs is widely used in the legal, banking, insurance, government, public and corporate sectors, for increasing accuracy, reducing cost, mitigating risk, and improving efficiency in the generation of complex documentation. Users can quickly and efficiently generate customized documents such as contracts, sales agreements, government forms, and loan documentation. HotDocs was formed in 1996 and is headquartered in Scotland.

Buy -

Seller(S) 3

SELLER

Kennet Partners

London, United Kingdom

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1997
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Kennet Partners is a private investment firm that invests in fast-growing companies providing information technology products and technology-enabled services. Kennet typically commits $10 to $50 million of equity per transaction in companies with revenues up to $50 million. The Firm generally invests in businesses located in Western Europe and the US. In addition to providing growth capital, Kennet also finances private mergers, shareholder liquidity needs, corporate divestitures or spin-outs, and restructuring situations. Kennet Partners was formed in 1997 and is based in London.


DEAL STATS #
Overall 39 of 40
Sector (Internet Software and Services) 5 of 6
Type (Add-on Acquisition) 31 of 32
State (Oregon) 1 of 1
Country (United States) 14 of 14
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-23 Revolution Prep

Los Angeles, California, United States

Revolution Prep is an education software and services provider that has helped over a hundred thousand students score higher on the SAT, ACT, and other high-stakes exams, while dramatically improving basic academic skills. Revolution Prep was founded in 2002 and is based in Los Angeles, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-18 eloomi

Copenhagen, Denmark

eloomi is a cloud-based performance management and learning management system. eloomi was founded in 2015 and is based in Copenhagen, Denmark.

Sell -
DESCRIPTION

North Bridge is an investment firm focused on providing seed, venture, and growth capital to technology enabled companies. Specific areas of interest include communications and infrastructure, software, materials, and digital media. For later stage growth transactions, North Bridge generally looks to acquire majority (or minority) positions to help fund liquidity needs, growth initiatives, or acquisitions. North Bridge was formed in 1994 and has offices in Waltham, Massachusetts and Palo Alto, California.


DEAL STATS #
Overall 19 of 20
Sector (Internet Software and Services) 5 of 5
Type (Add-on Acquisition) 12 of 12
State (Oregon) 1 of 1
Country (United States) 19 of 19
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-02 Intellum

Atlanta, Georgia, United States

Intellum is an enterprise learning management system helps in tracking learning content consumption and studying how individuals connect these interactions to their job performance, career development, and overall happiness. Intellum is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-27 ActiveViam

Paris, France

ActiveViam is a provider of in-memory data analytics software solutions designed for the significant speed and data volume demands of financial service and retail applications. ActiveViam was founded in 2005 and is based in Paris, France.

Sell -
SELLER

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 129 of 134
Sector (Internet Software and Services) 7 of 7
Type (Add-on Acquisition) 56 of 58
State (Oregon) 1 of 1
Country (United States) 82 of 85
Year (2024) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-22 EA Pharma

Vallauris, France

EA Pharma is a pharmaceutical company specialized in production and distribution of drugs, food supplements, and cosmetics. EA Pharma was formed in 2006 and is based in Vallauris, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-14 Jana Bank

Bengaluru, India

Jana Bank is a non-banking financial services company that provides micro-loans to the urban poor, under a joint liability group model. Jana Bank also offers savings, pension, insurance products as well. Jana Bank was founded in 2006 and is based in Bengaluru, India.

Sell -