Consolidation • Information Technology

Pfingsten Partners Acquires Ascend

On May 22, 2024, private equity firm Pfingsten Partners acquired information technology company Ascend

Acquisition Context
  • This is Pfingsten Partners’ 3rd transaction in the Information Technology sector.
  • This is Pfingsten Partners’ 57th transaction in the United States.
  • This is Pfingsten Partners’ 4th transaction in Texas.

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M&A Deal Summary

Date May 22, 2024
Target Ascend
Sector Information Technology
Buyer(s) Pfingsten Partners
Deal Type Consolidation

Target Company

Ascend

Bellaire, Texas, United States
Ascend provides AI-enabled cloud ERP, CRM, and business application solutions on platforms such as Microsoft, Sage, and NetSuite. It provides implementation, support, and consulting services to help middle-market companies across industries like wholesale distribution, manufacturing, professional and financial services, oil and gas, and business services optimize and automate their operations. Ascend is based in Bellaire, Texas.
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Buyer Overview 1

Buyer

Pfingsten Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 1.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION
Pfingsten's office building at 300 North LaSalle in Chicago.
Pfingsten's office building at 300 North LaSalle in Chicago.

Pfingsten Partners is a private equity firm focused on investments in niche manufacturing, distribution, and business services companies. The Firm targets platform companies headquartered in the US although add-on acquisitions can be located outside the US. Prospective companies typically have revenues of $20 to $150 million and EBITDA of $3 to $12 million. Transaction types include private companies undergoing an ownership transition, corporate divestitures, strategic add-ons, and turnarounds. Pfingsten only invests in situations allowing for control. Pfingsten will not invest in real estate, natural resources, highly regulated businesses, retail, restaurants, early-stage companies, or technology. Pfingsten Partners was formed in 1989 and is based in Chicago, Illinois.


Deal Context for Buyer #
Overall 57 of 58
Sector: Information Technology 3 of 3
Type: Consolidation 3 of 3
State: Texas 4 of 4
Country: United States 57 of 58
Year: 2024 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-25 Pacific Lasertec

San Marcos, California, United States

Pacific Lasertec is a manufacturer of specialty lasers and related power supplies. PLT’s products support critical applications across medical diagnostics, semiconductor, scientific research and development, advanced manufacturing and life sciences end markets. Pacific Lasertec was founded in 1979 and is based in San Marcos, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-17 RapidAir

Auburndale, Wisconsin, United States

RapidAir is a manufacturer and distributor of compressed air piping systems, components, kits, replacement parts, and other accessories. RapidAir sells its compressed air piping systems under three different brands and also provides filter regulators, moisture drains, couplers, fittings, hose reels, and other air compressor accessories. RapidAir was established in 2003 and is based in Auburndale, Wisconsin.

Sell -