M&A Deal Summary

Nordic Capital Acquires Zafin Labs Technologies

On February 12, 2024, private equity firm Nordic Capital acquired software company Zafin Labs Technologies from Kayne Anderson Capital Advisors and Vistara Capital Partners

Acquisition Highlights
  • This is Nordic Capital’s 8th transaction in the Software sector.
  • This is Nordic Capital’s 1st transaction in Canada.
  • This is Nordic Capital’s 1st transaction in British Columbia.

M&A Deal Summary

Date 2024-02-12
Target Zafin Labs Technologies
Sector Software
Buyer(s) Nordic Capital
Sellers(s) Kayne Anderson Capital Advisors
Vistara Capital Partners
Deal Type Secondary Buyout
Advisor(s) Goldman Sachs (Financial)
Fasken Martineau DuMoulin (Legal)

Target

Zafin Labs Technologies

Vancouver, British Columbia, Canada
Zafin Labs Technologies is a provider of relationship banking software solutions to financial services providers worldwide. Company technology platform, miRevenue, was built from the ground up for banking, enabling customer-centric product innovations that drive revenue, transparency and operational efficiency across the customer lifecycle. Zafin Labs Technologies was founded in 2002 and is based in Vancouver, British Columbia.

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Buyer(S) 1

Buyer

Nordic Capital

Stockholm, Sweden

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 31.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Nordic Capital is a private equity investment firm that targets mid to large-sized company investments located in Northern Europe as well as the US. Nordic seeks investments across a wide range of industries and prefers situations where there are 'opportunities for new industrial combinations, strategic repositioning, international expansion and operational improvements'. Nordic Capital was formed in 1989 and is based in Stockholm, Sweden.


DEAL STATS #
Overall 136 of 140
Sector (Software) 8 of 12
Type (Secondary Buyout) 41 of 45
State (British Columbia) 1 of 1
Country (Canada) 1 of 1
Year (2024) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-01 Surgical Information Systems

Alpharetta, Georgia, United States

Surgical Information Systems is a provider of cloud-based ASC management which includes surgeon office case request, scheduling, insurance verification, registration, billing, payment posting, accounts receivable, collections, and inventory. Surgical Information Systems was founded in 1996 and is based in Alpharetta, 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.

Buy -

Seller(S) 2

SELLER

Kayne Anderson Capital Advisors

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1984
PE ASSETS 36.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kayne Anderson Capital Advisors is an alternative investment management firm focused on hedge funds, public funds, energy private equity, growth private equity, real estate private equity, and mezzanine finance opportunities. Kayne's energy private equity group focuses on $20 to $100 million investments in high-growth exploration and production, midstream and oilfield service companies. The energy group considers both majority or minority stakes in public and private businesses. Kayne's growth private equity practice involves structured investments in public and private companies looking for capital to finance expansion. This group will also consider middle-market leveraged transactions and management buyouts. Kayne's real estate private equity group invests in established, cash-flow generating projects. Areas of interest include student housing and campus-oriented retail properties, amongst other opportunistic investments. The Group looks for acquisitions of $25 to $100 million. Kayne's mezzanine team looks to provide $20 to $35 million of capital for mid-market businesses with $100 to $500 million of sales and $10 to $50 million of EBITDA. Kayne Capital Advisors was formed in 1984 and is based in Los Angeles with additional offices in Armonk, New York; New York City, and Houston.


DEAL STATS #
Overall 85 of 85
Sector (Software) 7 of 7
Type (Secondary Buyout) 11 of 11
State (British Columbia) 1 of 1
Country (Canada) 12 of 12
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-07 Riviera Partners

San Francisco, California, United States

Riviera Partners is expertise with a proprietary platform that uses machine learning to score and predict the best candidate for a company’s specific needs, Riviera is the go-to talent partner for leading venture capitalists and technology innovators. Riviera Partners was founded in 2001 and is based in San Francisco, California.

Sell -
DESCRIPTION

Vistara Capital Partners is a growth focused private equity firm that makes investments in technology and technology-enabled service companies across North America. The Firm looks to invest between $3 and $10 million in companies generating sales greater than $10 million. Vistara Capital Partners was formed in 2015 and is based in Vancouver, British Columbia.


DEAL STATS #
Overall 6 of 7
Sector (Software) 3 of 3
Type (Secondary Buyout) 2 of 2
State (British Columbia) 3 of 3
Country (Canada) 4 of 4
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-24 Getaround

San Francisco, California, United States

Getaround connects safe, convenient, and affordable cars with people who need them to live and work. Getaround is the world's first carsharing marketplace offering a 100% digital experience with proprietary technology and data that make sharing vehicles superior to owning them. Getaround was founded in 2009 and is based in San Francisco, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-10 Clariti

Dover, Delaware, United States

Clariti is a government permitting and licensing software company. Clariti is built as an alternative to code-heavy, non-configurable systems that create technology barriers for governments to meet their community’s evolving needs. Clariti was founded in 2008 and is based in Dover, Delaware.

Buy -