M&A Deal Summary

Pamlico Capital and Digital Alpha Acquire Office Practicum

On February 2, 2018, private equity firms Pamlico Capital and Digital Alpha acquired software company Office Practicum from Bluff Point Associates

Acquisition Highlights
  • This is Pamlico Capital’s 5th and Digital Alpha’s 1st transaction in the Software sector.
  • This is Pamlico Capital’s 59th and Digital Alpha’s 3rd transaction in the United States.
  • This is Pamlico Capital’s 5th and Digital Alpha’s 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2018-02-02
Target Office Practicum
Sector Software
Buyer(s) Pamlico Capital
Digital Alpha
Sellers(s) Bluff Point Associates
Deal Type Secondary Buyout
Advisor(s) Raymond James - Investment Banking (Financial)
Ellenoff Grossman & Schole (Legal)

Target

Office Practicum

Fort Washington, Pennsylvania, United States
Office Practicum provides a fully-integrated Electronic Health Record and Practice Management software solution and Revenue Cycle Management services to pediatricians. The Company’s solutions drive improved clinical and financial outcomes for providers and their patients. Office Practicum was founded in 1992 and is based in Fort Washington, Pennsylvania.

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Buyer(S) 2

Buyer

Pamlico Capital

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Pamlico Capital is a private equity group focused on mid-sized transactions. Pamlico looks to invest $25 to $125 million per transaction. Sectors of interest include business and technology services, consumer products/services, industrial, energy, financial services, healthcare, media, and communications. Pamlico will consider both minority and majority positions. Prospective transactions include management or leveraged buyouts, recapitalizations, growth financings, mezzanine, and special situations. Pamlico was formerly known as Wachovia Capital Partners. The Firm was originally formed in 1988 and is based in Charlotte, North Carolina.

DEAL STATS #
Overall 61 of 84
Sector (Software) 5 of 14
Type (Secondary Buyout) 11 of 17
State (Pennsylvania) 5 of 6
Country (United States) 59 of 79
Year (2018) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-13 Secure-24 Intermediate Holdings

Southfield, Michigan, United States

Secure-24 Intermediate Holdings, Inc. is a provider of managed IT operations, hosting and cloud services, providing highly available environments and expert management and support for your business critical applications. Secure-24 Intermediate Holdings, Inc. was established in 2001 and is based in Southfield, Michigan.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-01 Silverline

New York, New York, United States

Silverline is a pure-play Salesforce services partners, focused exclusively on helping clients deploy and manage Salesforce’s portfolio of products. With a focus on the financial services and healthcare verticals, Silverline has deep industry expertise and proprietary IP to provide differentiated and transformational solutions to its clients. Silverline was founded in 2009 and is based in New York City.

Buy -
Buyer

Digital Alpha

Category Private Equity Firm
Founded 2017
Size Small
Type Sector Focused
DESCRIPTION

Digital Alpha is an alternative investor focused on digital infrastructure. The Firm seeks growth opportunities with a specific interest in next generation networks, the cloud, and the Internet of Things. Digital Alpha was founded in 2017 and is based in Henderson, Nevada.

DEAL STATS #
Overall 5 of 15
Sector (Software) 1 of 3
Type (Secondary Buyout) 1 of 3
State (Pennsylvania) 1 of 1
Country (United States) 3 of 13
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-04 Working Group Two

Oslo, Norway

Working Group Two is a provider of mobile telecom services better and more relevant for end users. We do this by deploying Internet tools and technologies on top of traditional mobile telco infrastructure. Working Group Two was founded in 2017 and is based in Oslo, Norway.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-08 Quantela

Billerica, Massachusetts, United States

Quantela is an Outcomes-as-a-Service (OaaS) company that specializes in urban infrastructure digitization. Quantela was founded in 2015 and is based in Billerica, Massachusetts.

Buy -

Seller(S) 1

SELLER

Bluff Point Associates

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2011
Size Small
Type Sector Focused
DESCRIPTION

Bluff Point Associates is a private equity firm that invests in middle-market information technology companies serving the financial services and healthcare industries. The Firm looks for control positions in growth-oriented companies with $3 to $30 million in revenue. Bluff Point Associates was formed in 2011 and is based in Westport, Connecticut.

DEAL STATS #
Overall 9 of 15
Sector (Software) 4 of 4
Type (Secondary Buyout) 2 of 2
State (Pennsylvania) 1 of 2
Country (United States) 9 of 15
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-31 Netgain Technology

Minneapolis, Minnesota, United States

Netgain Technology provides managed IT services the accounting, Legal, and healthcare industries. Clients rely on our turnkey cloud-enabled solutions and our deep expertise across public cloud, business, and accounting applications to efficiently run their businesses across an increasingly distributed and remote workforce. Netgain Technology was founded in 2000 and is based in Minneapolis, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-14 Consolo Services Group

Lexington, Kentucky, United States

Consolo Services Group LLC is a dynamic healthcare information technology company. The Consolo product has been in the market for over 15 years and was developed specifically for hospice and palliative care providers. From the start, Consolo has always leveraged its single-instance multi-tenant database cloud solution which has accelerated development efforts and allowed for cutting-edge clinical tools and industry-standardized data. Hospice and palliative care agencies can expect to improve their performance and bottom line with the Consolo platform.

Sell -
Mergr

Product

Company

Legal