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M&A Deal Summary

New Mountain Capital and Endicott Capital Acquire Datassential

On September 13, 2024, private equity firms New Mountain Capital and Endicott Capital acquired internet software and services company Datassential from Spectrum Equity

Acquisition Highlights
  • This is New Mountain Capital’s 4th and Endicott Capital’s 2nd transaction in the Internet Software and Services sector.
  • This is New Mountain Capital’s 89th and Endicott Capital’s 7th transaction in the United States.
  • This is New Mountain Capital’s 8th and Endicott Capital’s 1st transaction in Illinois.

M&A Deal Summary
Date 2024-09-13
Target Datassential
Sector Internet Software and Services
Buyer(s) New Mountain Capital
Endicott Capital
Sellers(s) Spectrum Equity
Deal Type Secondary Buyout
Advisor(s) Aeris Partners (Financial)
Latham & Watkins (Legal)

Target

Datassential

Chicago, Illinois, United States
Datassential provides data, intelligence, and market research to the food service industry. Datassential makes the global food industry smarter. Hundreds of food manufacturers, chain restaurants, and major food retailers use its trend software, consumer insights, and cutting-edge AI to innovate and sell more effectively. Datassential was founded in 1999 and is based in Chicago, Illinois.

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Buyer(S) 2

Buyer

New Mountain Capital

New York, New York, United States
Category Private Equity Firm
Founded 2000
PE ASSETS 35.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

New Mountain Capital is a private investment firm focused on investment in public and private companies in a variety of industries. New Mountain generally invests $100 to $500 million per transaction and looks for businesses with strong market positions and high barriers to entry. New Mountain also prefers businesses that succeed in both good and bad economies. Sectors of interest include education, healthcare, business services, federal IT services, media, software, consumer products, logistics, financial services and technologies, and energy. New Mountain Capital was formed in 2000 and is based in New York City.

DEAL STATS #
Overall 94 of 100
Sector (Internet Software and Services) 4 of 4
Type (Secondary Buyout) 37 of 39
State (Illinois) 8 of 8
Country (United States) 89 of 95
Year (2024) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-12 Site 20/20

Dartmouth, Nova Scotia, Canada

Site 20/20 is a technology company focused on manufacturing and servicing hardware and software solutions for the traffic control and road construction industries. Site 20/20 is based in Dartmouth, Nova Scotia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-30 Salute Mission Critical

Franklin, Wisconsin, United States

Salute Mission Critical is an IT Data Center Lifecycle services company that recruits and trains military veterans to become world-class technicians. The company deploys, manages, and decommissions data center sites with consistently high-quality results. Salute Mission Critical is based in Franklin, Wisconsin.

Buy -
Buyer

Endicott Capital

Investor Investor Investor Investor

Category Private Equity Firm
Founded 1996
Size Small
Type Sector Agnostic
DESCRIPTION

Endicott Group is a private equity firm focused on profitable lower-middle market companies across the US. Endicott Capital invests exclusively in technology-enabled, B2B information services companies. The Firm seeks to make majority or minority investments in businesses with $5 to $50 million in revenue, defensible business models, high barriers to entry, and recurring revenue. Endicott Group was founded in 1996 and is headquartered in New York, New York.

DEAL STATS #
Overall 9 of 9
Sector (Internet Software and Services) 2 of 2
Type (Secondary Buyout) 2 of 2
State (Illinois) 1 of 1
Country (United States) 7 of 7
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-30 Aosphere

London, United Kingdom

Aosphere is a legal information and technology company that specializes in providing digital subscription-based legal services, focusing on cross-border regulatory compliance, derivatives, data privacy, and market practice analysis. Aosphere is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-02-27 MANTL

New York, New York, United States

MANTL is a financial technology firm offering omnichannel account origination software for banks and credit unions. MANTL was founded in 2017 and is based in New York City.

Sell $400M

Seller(S) 1

SELLER

Spectrum Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 8.2B USD
Size Mega
Type Sector Focused
DESCRIPTION

Spectrum Equity Management L.P. is a private equity investor focused on service businesses. Spectrum specifically targets established businesses in the media, communications, IT, information, and business services industries. The Firm looks to commit $25 to $150 million of equity capital per transaction and focuses on opportunities throughout North America and Western Europe. Prospective transaction situations include leveraged buyouts, recapitalizations, acquisition financings, and secondary purchases. Spectrum Equity Investors was formed in 1994 and has offices in Boston, Massachusetts and Menlo Park, California.

DEAL STATS #
Overall 73 of 76
Sector (Internet Software and Services) 17 of 18
Type (Secondary Buyout) 8 of 10
State (Illinois) 5 of 5
Country (United States) 64 of 67
Year (2024) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-02 Jimdo

Hamburg, Germany

Jimdo is a provider of cloud-based website creation software, that enables anyone to create a customized online presence with a blog and online store. Jimdo was formed in 2007 and is based in Hamburg, Germany.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-30 Expert Institute

New York, New York, United States

Expert Institute is a technology-driven platform for connecting qualified experts in every field with lawyers looking for technical expertise, consultative support, expert witness testimony, and case-specific guidance. The Company combines a vast database of pre-screened experts with a talented case management team capable of custom recruiting experts to fit the specific needs of our clients. Expert Institute was founded in 2010 and is based in New York City.

Sell -
Mergr

Product

Company

Legal