M&A Deal Summary

Ncontracts Acquires Venminder

On September 4, 2024, Ncontracts acquired software company Venminder from Weller Equity Partners and Silversmith Capital Partners

Acquisition Highlights
  • This is Ncontracts’ 4th transaction in the Software sector.
  • This is Ncontracts’ 7th transaction in the United States.
  • This is Ncontracts’ 1st transaction in Kentucky.

M&A Deal Summary

Date 2024-09-04
Target Venminder
Sector Software
Buyer(s) Ncontracts
Sellers(s) Weller Equity Partners
Silversmith Capital Partners
Deal Type Add-on Acquisition
Advisor(s) William Blair (Financial)
Choate Hall & Stewart (Legal)

Target

Venminder

Elizabethtown, Kentucky, United States
Venminder is a provider of vendor risk management solutions. Venminder through the firm’s software and a suite of outsourced services, Venminder has pioneered a new age in vendor management by dramatically reducing the workload essential to meeting today’s demanding regulatory requirements. Venminder is based in Elizabethtown, Kentucky.

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Buyer(S) 1

Buyer

Ncontracts

Brentwood, Tennessee, United States

Category Company
Founded 2009
Sector Software
DESCRIPTION

Ncontracts provides risk, vendor, and compliance management software to a rapidly expanding customer base of more than 1,300 financial institutions located in all 50 states and U.S. territories. Ncontracts was founded in 2009 and is based in Brentwood, Tennessee.


DEAL STATS #
Overall 7 of 7
Sector (Software) 4 of 4
Type (Add-on Acquisition) 6 of 6
State (Kentucky) 1 of 1
Country (United States) 7 of 7
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.

Buy -

Seller(S) 2

DESCRIPTION

Weller Equity Partners is a private equity firm focused on buyouts, growth capital financings, and recapitalizations of lower middle-market companies in Kentucky and the Mid-South US. The Firm looks to invest $1 to $10 million in profitable companies with $10 to $75 million of revenue. Sectors of interest include healthcare, business services, information technology, manufacturing, and food/beverages. Weller Equity Partners was formed in 2015 and is based in Louisville, Kentucky.


DEAL STATS #
Overall 1 of 1
Sector (Software) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Kentucky) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-10 Venminder

Elizabethtown, Kentucky, United States

Venminder is a provider of vendor risk management solutions. Venminder through the firm’s software and a suite of outsourced services, Venminder has pioneered a new age in vendor management by dramatically reducing the workload essential to meeting today’s demanding regulatory requirements. Venminder is based in Elizabethtown, Kentucky.

Buy -
SELLER

Silversmith Capital Partners

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2015
PE ASSETS 3.3B USD
Size Large
Type Sector Focused
DESCRIPTION

Silversmith Capital Partners is a private investment firm focused on growth capital investments in SaaS and healthcare IT/services companies. The Firm looks to invest $20 to $125 million in growing companies (20%+) with at least $10 million in revenue. Silversmith Capital Partners was established in 2015 and is headquartered in Boston, Massachusetts.


DEAL STATS #
Overall 6 of 6
Sector (Software) 3 of 3
Type (Add-on Acquisition) 3 of 3
State (Kentucky) 1 of 1
Country (United States) 5 of 5
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-15 Fortified Health Security

Franklin, Tennessee, United States

Fortified Health Security is Healthcare’s Cybersecurity Partner protecting patient data and reducing risk throughout the healthcare ecosystem. A managed security service provider that has been awarded many industry accolades, Fortified works alongside healthcare organizations to build customized programs designed to leverage their prior security investments and current processes while implementing new solutions that reduce risk and increase their security posture over time. Fortified Health Security was founded in 2009 and is based in Franklin, Tennessee.

Buy -