Growth Capital • Software

Ridgemont Equity Partners and Adams Street Partners Invest In Interact Commerce

On January 1, 1999, private equity firm Ridgemont Equity Partners and asset manager Adams Street Partners invested in software company Interact Commerce

Investment Context
  • This is Ridgemont Equity Partners’ 2nd and Adams Street Partners’ 1st transaction in the Software sector.
  • This is Ridgemont Equity Partners’ 21st and Adams Street Partners’ 4th transaction in the United States.
  • This is Ridgemont Equity Partners’ 1st and Adams Street Partners’ 1st transaction in Arizona.
Investment Fate
  • Interact Commerce went public in 1999.
  • Interact Commerce was sold to a strategic buyer in 2001 for 260M USD.
  • Interact Commerce was divested to a consortium of strategic buyers in 2013.
  • Interact Commerce was divested to a consortium of strategic buyers in 2014.

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Investment Summary

Date January 1, 1999
Target Interact Commerce
Sector Software
Investor(s) Ridgemont Equity Partners
Adams Street Partners
Deal Type Growth Capital

Target Company

Interact Commerce

Scottsdale, Arizona, United States
Interact Commerce Corporation is a software developer and produces SalesLogix and Act, two client-management programs. The Company was formed in 1995 and is based in Scottsdale, Arizona.
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Investors Overview 2

Investor

Ridgemont Equity Partners

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ridgemont Equity Partners is an independent private equity firm specializing in middle-market buy-outs, corporate divestitures, recapitalizations and growth capital investments. The Firm targets to invest in companies located in North America, preferably in US and Canada. REP looks to invest up to $500 million in companies with EBIDTA of $5 - $50 million. The Firm seeks to hold both majority and minority equity interest in portfolio companies. Specific areas of interest include basin industries and services, energy, healthcare, telecommunications, media and technology. Ridgemont Equity Partners is a spun-off of Banc of America Capital Investors (BACI). Ridgemont Equity Partners was formed in August 2010 and is based in Charlotte, North Carolina.


Deal Context for Investor #
Overall 21 of 136
Sector: Software 2 of 5
Type: Growth Capital 1 of 15
State: Arizona 1 of 2
Country: United States 21 of 121
Year: 1999 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-01-01 National Seating & Mobility

Franklin, Tennessee, United States

National Seating & Mobility is a provider of complex rehabilitation seating, mobility, and positioning systems. NSM provides personalised solutions to individuals with mobility challenges by bringing together industry-leading expertise, uniquely engineered systems, and breakthrough technologies. National Seating & Mobility was founded in 1992 and is based in Franklin, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-05-01 Sheridan Healthcare

Sunrise, Florida, United States

Sheridan Healthcare, Inc. is a multi-specialty physician practice management company that provides outsourced physician staffing services to hospitals and ambulatory surgery centers.

Sell $155M
Investor

Adams Street Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1972
PE ASSETS 60.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Adams Street Partners is a diversified, global investment firm that targets direct, fund of funds, and secondary investments. Adams' direct investing group covers co-investments in buyout transactions, as well as growth equity and venture capital commitments. The direct buyout and growth equity team looks to commit $5 to $30 million per transaction. For venture related investments, commitments of $5 to $20 million are provided to companies in the technology, life sciences and technology enabled services sectors. Typically, target companies have received prior financing from early stage venture firms and are seeking additional capital to fund product development and commercialization. Adams Street Partners was formed in 1972 and is based in Chicago, Illinois.


Deal Context for Investor #
Overall 4 of 152
Sector: Software 1 of 30
Type: Growth Capital 2 of 15
State: Arizona 1 of 2
Country: United States 4 of 140
Year: 1999 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-01-01 Syneos Health

Morrisville, North Carolina, United States

Syneos Health is a fully integrated biopharmaceutical solutions organization built to accelerate customer success. Syneos Health translate unique clinical, medical affairs and commercial insights into outcomes to address modern market realities. Syneos Health was founded in 2010 and is based in Morrisville, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-04-01 IC Works

San Jose, California, United States

IC Works manufactured semiconductor products and was a provider of semiconductor fabrication services.

Sell -