M&A Deal Summary

Primus Capital and Quad Partners Acquire Cayuse

On August 27, 2020, private equity firms Primus Capital and Quad Partners acquired software company Cayuse from Quad Partners

Acquisition Highlights
  • This is Primus Capital’s 10th and Quad Partners’ 4th transaction in the Software sector.
  • This is Primus Capital’s 51st and Quad Partners’ 18th transaction in the United States.
  • This is Primus Capital’s 1st and Quad Partners’ 2nd transaction in Oregon.

M&A Deal Summary

Date 2020-08-27
Target Cayuse
Sector Software
Buyer(s) Primus Capital
Quad Partners
Sellers(s) Quad Partners
Deal Type Secondary Buyout
Advisor(s) Macquarie Capital (Financial)

Target

Cayuse

Portland, Oregon, United States
Cayuse provides a comprehensive research administration software platform for colleges and universities. The Company’s solutions help faculty members and administrators construct, submit, and manage research proposals & grants, which allows researchers to focus on research. Cayuse was formed in 2017 and is based in Portland, Oregon.

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Buyer(S) 2

Buyer

Primus Capital

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1983
PE ASSETS 900M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Primus Capital is a private equity firm focused on investing in established companies in the business services, healthcare and education industry sectors. Primus looks for established, high-growth companies with strong management and predictable/recurring revenues. The Firm will consider both control and minority positions and has a target investment size of $15 to $70 million. Prospective transaction types include growth equity financings, recapitalizations, and management-led buyouts. Primus Capital was formed in 1983 and is based in Cleveland, Ohio.


DEAL STATS #
Overall 52 of 60
Sector (Software) 10 of 13
Type (Secondary Buyout) 7 of 7
State (Oregon) 1 of 1
Country (United States) 51 of 59
Year (2020) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-14 Proxibid

Omaha, Nebraska, United States

Proxibid is an online marketplace for buying and selling highly valued items. Proxibid’s Marketplace supports 16 categories, including heavy equipment, industrial machinery, real estate, fine art, antiques and collectibles, and more. Proxibid was established in 2001 and is based in Omaha, Nebraska.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-08 Rev.io

Atlanta, Georgia, United States

Rev.io provides sophisticated billing-as-a-service (BaaS) to communications companies, IoT companies, and technology service providers. Rev.io enables clients to manage sophisticated subscription billing models with the industry’s most complete quote-to-cash financial processing experience to effectively manage end customers’ subscriptions, usage, taxation, billing, and payment processing. Rev.io was founded in 2002 and is based in Atlanta, Georgia.

Buy -
Buyer

Quad Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 1.2B USD
Size Large
Type Sector Focused
DESCRIPTION

Quad Partners is a specialist private investment firm that makes investments in the education industry. Quad will invest in a broad range of transactions; including buyouts, growth capital financings, recapitalizations, and refinancings. Prospective businesses are typically growth oriented and cash-flow positive. Specific areas of interest include postsecondary schools, K-12 proprietary schools, childcare, tutoring, educational products and services, professional education and journals, corporate training, and online journals. Quad Partners was formed in 2000 and is based in New York City.


DEAL STATS #
Overall 19 of 26
Sector (Software) 4 of 6
Type (Secondary Buyout) 4 of 6
State (Oregon) 2 of 2
Country (United States) 18 of 22
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-02 The Gardner School

Franklin, Tennessee, United States

The Gardner School operates 20 preschools throughout Tennessee, Kentucky, Illinois, Minnesota, Ohio, and Virginia. The Gardner School's programs are carefully designed to encourage each child's growing need for independence and an emerging sense of self while nurturing intellectual growth, exploration, and socialization in a safe, supportive environment. The Gardner School was established in 2004 and is based in Franklin, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-05 TargetX

Conshohocken, Pennsylvania, United States

TargetX provides cloud-based, enterprise-wide solutions to help colleges and universities efficiently and effectively manage student relationships, from applicant to enrolled student to donor. TargetX was established in 1998 and is based in Conshohocken, Pennsylvania.

Sell -

Seller(S) 1

SELLER

Quad Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 1.2B USD
Size Large
Type Sector Focused
DESCRIPTION

Quad Partners is a specialist private investment firm that makes investments in the education industry. Quad will invest in a broad range of transactions; including buyouts, growth capital financings, recapitalizations, and refinancings. Prospective businesses are typically growth oriented and cash-flow positive. Specific areas of interest include postsecondary schools, K-12 proprietary schools, childcare, tutoring, educational products and services, professional education and journals, corporate training, and online journals. Quad Partners was formed in 2000 and is based in New York City.


DEAL STATS #
Overall 10 of 17
Sector (Software) 1 of 1
Type (Secondary Buyout) 4 of 4
State (Oregon) 1 of 1
Country (United States) 10 of 17
Year (2020) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-02 The Gardner School

Franklin, Tennessee, United States

The Gardner School operates 20 preschools throughout Tennessee, Kentucky, Illinois, Minnesota, Ohio, and Virginia. The Gardner School's programs are carefully designed to encourage each child's growing need for independence and an emerging sense of self while nurturing intellectual growth, exploration, and socialization in a safe, supportive environment. The Gardner School was established in 2004 and is based in Franklin, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-05 TargetX

Conshohocken, Pennsylvania, United States

TargetX provides cloud-based, enterprise-wide solutions to help colleges and universities efficiently and effectively manage student relationships, from applicant to enrolled student to donor. TargetX was established in 1998 and is based in Conshohocken, Pennsylvania.

Sell -