M&A Deal Summary

Repario Acquires Modus

On April 4, 2023, Repario acquired information technology company Modus from Azalea Capital and Harbert Mezzanine Capital

Acquisition Highlights
  • This is Repario’s 1st transaction in the Information Technology sector.
  • This is Repario’s 1st transaction in the United States.
  • This is Repario’s 1st transaction in District of Columbia.

M&A Deal Summary
Date 2023-04-04
Target Modus
Sector Information Technology
Buyer(s) Repario
Sellers(s) Azalea Capital
Harbert Mezzanine Capital
Deal Type Add-on Acquisition
Advisor(s) VRA Partners LLC (Financial)

Target

Modus

Washington, District of Columbia, United States
Modus provides technology solutions encompassing all phases of the litigation lifecycle to law firms, corporations, and government entities. Modus is a client-focused, results-driven team of consultants, project managers, data engineers and developers whose combined knowledge of the legal industry and information systems provide an incomparable ability to design solutions tailored to meet the uniqueness of every case. Modus was founded in 2008 and is based in Washington, District of Columbia.

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Buyer(S) 1

Buyer

Repario

Scottsdale, Arizona, United States
Category Company
Sector Business Services
DESCRIPTION

Repario is a discovery service provider which offers an end-to-end solutions to navigate the complex world of electronic discovery. Repario is based in Scottsdale, Arizona. ,

DEAL STATS #
Overall 1 of 2
Sector (Information Technology) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (District of Columbia) 1 of 1
Country (United States) 1 of 2
Year (2023) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-03 Breakwater

Austin, Texas, United States

Breakwater helps enterprises mitigate risk and gain insight from sprawling information by combining technology automation and human expertise. The company empowers governance, legal, and risk professionals to locate, access, analyze, and manage information by making data transparent and actionable. Its solutions are comprised of expert consulting, AI-infused technology, and ongoing managed services, all of which directly address the myriad challenges within information governance, disputes and investigations, regulatory compliance, privacy, and cybersecurity. Breakwater was founded in 2020 and is based in Austin, Texas.

Buy -

Seller(S) 2

SELLER

Azalea Capital

Greenville, South Carolina, United States

Investor Investor Investor

Category Private Equity Firm
Founded 1995
Size Small
Type Sector Agnostic
DESCRIPTION

Azalea Capital is a private investment firm focused on providing equity capital to privately owned middle-market companies located in the Southeast US. Prospective transaction situations include management buyouts, divestitures, recapitalizations, and growth financings. Target companies typically have at least $10 million in revenue and are profitable with up to $8 million of EBITDA. Sectors of interest include niche manufacturing, value-added distribution, business services, consumer products, and healthcare. Azalea was formed in 1995 and is based in Greenville, South Carolina.

DEAL STATS #
Overall 15 of 15
Sector (Information Technology) 1 of 1
Type (Add-on Acquisition) 5 of 5
State (District of Columbia) 1 of 1
Country (United States) 15 of 15
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-14 Landscapers Supply

Greenville, South Carolina, United States

Landscapers Supply offers equipment and repair services, as well as seed, fertilizer, mulch, firewood, stone, and various irrigation products across its five locations to meet the needs of commercial and residential landscaping contractors.  Landscapers Supply was founded in 1991 and is based in Greenville, South Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-12 Brittle-Brittle

DeSoto, Texas, United States

Brittle-Brittle is a manufacturer of all-natural candy and confectionary products, including peanut brittle, toffee, and other nut-based snack products. Brittle-Brittle was founded in 1988 and is based in DeSoto, Texas.

Buy -
SELLER

Harbert Mezzanine Capital

Investor Investor Investor Investor

Category Mezzanine Finance Firm
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Harbert Mezzanine Capital is the junior capital investment arm of asset manager Harbert Management Corporation. Harbert Mezzanine looks to invest $3 to $15 million of subordinated debt to support growth needs, acquisitions, recapitalizations, or management buyouts of mid-sized companies throughout the US. Harbert Mezzanine Capital is based in Nashville, Tennessee.

DEAL STATS #
Overall 10 of 12
Sector (Information Technology) 3 of 3
Type (Add-on Acquisition) 4 of 4
State (District of Columbia) 1 of 1
Country (United States) 10 of 12
Year (2023) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-26 IHP

Nashville, Tennessee, United States

Innovative Hearth Products is a manufacturer of indoor and outdoor fireplaces, fireplace inserts, free-standing stoves, gas log sets, venting products and accessories for the specialty retail, residential new construction and industrial markets. Based in Nashville, Tenn. IHP operates manufacturing facilities in Russellville, Ala., Santa Ana, Calif. and Auburn, Wash.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-07 InProduction

Warrenville, Illinois, United States

InProduction is a provider of rental staging and seating solutions for special events. InProduction designs deliver and installs high-quality temporary audience risers, stadium seating, platforms, drapery, and scenery for high-end sporting, corporate, and other special events. InProduction is based in Warrenville, Illinois.

Sell -
Mergr

Product

Company

Legal