M&A Deal Summary

Pamlico Capital Acquires InRule

On October 13, 2022, private equity firm Pamlico Capital acquired software company InRule from OpenGate Capital

Acquisition Highlights
  • This is Pamlico Capital’s 13th transaction in the Software sector.
  • This is Pamlico Capital’s 76th transaction in the United States.
  • This is Pamlico Capital’s 6th transaction in Illinois.

M&A Deal Summary

Date 2022-10-13
Target InRule
Sector Software
Buyer(s) Pamlico Capital
Sellers(s) OpenGate Capital
Deal Type Secondary Buyout

Target

InRule

Chicago, Illinois, United States
InRule is a decision management platform and business rules management system (BRMS). InRule enables enterprises to understand and automate decisions with unparalleled speed, agility, accuracy, and transparency. InRule was founded in 2002 and is based in Chicago, Illinois.

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Buyer(S) 1

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 81 of 84
Sector (Software) 13 of 14
Type (Secondary Buyout) 17 of 17
State (Illinois) 6 of 6
Country (United States) 76 of 79
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-27 Cartegraph

Dubuque, Iowa, United States

Cartegraph is a provider of SaaS-based asset management solutions to local governments. The company devotes itself to cities, counties, and government agencies seeking to be more effective, efficient, and productive in their daily operations. It builds software that empowers users to capture infrastructure asset data, analyze it, and use it to prepare for the future. Cartegraph was established in 1994 and is based in Dubuque, Iowa.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-18 Winsight

Chicago, Illinois, United States

Winsight is a provider of actionable information, market intelligence, professional events, and media to the global restaurant, noncommercial foodservice, and convenience retail industries. The Company offers a multi-channel portfolio of brands across research, data and analytics, events, magazines, web sites, e-newsletters, and content marketing solutions. Winsight is based in Chicago, Illinois.

Sell $380M

Seller(S) 1

SELLER

OpenGate Capital

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 890M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

OpenGate Capital is a private investment firm focused on acquiring divestitures of larger public corporations or troubled companies needing restructuring. OpenGate does not focus any particular industry and will consider opportunities throughout North America and Europe. The Firm's target companies with up to $1 billion of revenue and valued up to $300 million. OpenGate Capital was formed in 2005 and is based in Los Angeles, California.


DEAL STATS #
Overall 26 of 32
Sector (Software) 2 of 2
Type (Secondary Buyout) 7 of 8
State (Illinois) 1 of 1
Country (United States) 9 of 12
Year (2022) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-01 EverZinc

Loncin, Belgium

EverZinc engages in the production of zinc chemicals with three product lines: fine zinc powders, zinc oxide, and zinc powders for batteries. Industrial operations are located in Belgium, the Netherlands, Norway, China, and Malaysia. EverZinc is based in Angleur, Belgium.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-13 Chemisphere

Saint Louis, Missouri, United States

Chemisphere is a distributor and blender of chemical products that specializes in the manufacturing and distribution of personal care products, industrial products, and denatured ethanol. Chemisphere was founded in 1974 and is headquartered in Saint Louis, Missouri.

Sell -