M&A Deal Summary

PennSpring Capital Acquires Zirtual

On December 12, 2023, private equity firm PennSpring Capital acquired internet software and services company Zirtual from Fundable

Acquisition Highlights
  • This is PennSpring Capital’s 3rd transaction in the Internet Software and Services sector.
  • This is PennSpring Capital’s 9th transaction in the United States.
  • This is PennSpring Capital’s 1st transaction in Ohio.

M&A Deal Summary

Date 2023-12-12
Target Zirtual
Sector Internet Software and Services
Buyer(s) PennSpring Capital
Sellers(s) Fundable
Deal Type Divestiture

Target

Zirtual

Powell, Ohio, United States
Zirtual is a virtual assistant platform. Zirtual was founded in 2011 and is based in Powell, Ohio.

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Buyer(S) 1

DESCRIPTION

PennSpring Capital is a private investment firm focused on acquiring profitable, lower middle-market companies with up to $5 million of EBITDA. The Firm will consider both established as well as emerging/growth companies, and generally prefers opportunities throughout the East region of the US. Areas of interest include business services, sports, media/technology, healthcare, and education services. PennSpring Capital was formed in 2018 and is headquartered in Lancaster, Pennsylvania.


DEAL STATS #
Overall 9 of 10
Sector (Internet Software and Services) 3 of 3
Type (Divestiture) 1 of 1
State (Ohio) 1 of 1
Country (United States) 9 of 10
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-03 Environmental Remediation and Financials Services

Sea Girt, New Jersey, United States

Environmental Remediation and Financials Services develops in-situ (subsurface) soil and groundwater remediation technologies, and is recognized for industry-first innovations and financial strategies. Since pioneering the first Pay-for-Performance (PfP) contracting programs for remediation, ERFS has successfully completed hundreds of remediation projects across America and Japan for government agencies, public corporations, and heavy industry. Environmental Remediation and Financials Services was formed in 1998 and is based in Sea Girt, New Jersey.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-15 Refresh LED

Mechanicsburg, Pennsylvania, United States

Refresh LED is a full-service provider of high-quality LED video walls and displays for houses of worship, universities, and commercial clients seeking to enhance participant experience. Refresh LED was founded in 2019 and is based in Mechanicsburg, Pennsylvania.

Buy -

Seller(S) 1

SELLER

Fundable

Powell, Ohio, United States

Category Company
Founded 2011
Sector Internet Software and Services
DESCRIPTION

Fundable LLC is a provider of Software as a Service crowdfunding platform.


DEAL STATS #
Overall 1 of 1
Sector (Internet Software and Services) 1 of 1
Type (Divestiture) 1 of 1
State (Ohio) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-05 Zirtual

Powell, Ohio, United States

Zirtual is a virtual assistant platform. Zirtual was founded in 2011 and is based in Powell, Ohio.

Buy -