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Add-on Acquisition • Internet Software and Services

ShiftKey Acquires OnShift

On June 22, 2022, ShiftKey acquired internet software and services company OnShift from Clearlake Capital

Acquisition Context
  • This is ShiftKey’s 1st transaction in the Internet Software and Services sector.
  • This is ShiftKey’s 1st transaction in the United States.
  • This is ShiftKey’s 1st transaction in Ohio.

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M&A Deal Summary
Date June 22, 2022
Target OnShift
Sector Internet Software and Services
Buyer(s) ShiftKey
Sellers(s) Clearlake Capital
Deal Type Add-on Acquisition

Target Company

OnShift

Cleveland, Ohio, United States
OnShift is a provider of cloud-based human capital management software for the long-term post-acute care market. The Company’s multi-tenant SaaS platform facilitates scheduling, labor analytics, workforce planning, employee financial wellness, employee engagement, applicant tracking, and recruitment management for nearly 5,000 customers, including many of the leading skilled nursing and senior living providers. OnShift was founded in 2008 and is based in Cleveland, Ohio.
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Buyer Overview 1

Buyer

ShiftKey

Dallas, Texas, United States
Category Company
Founded 2016
Sector Staffing
DESCRIPTION

ShiftKey is a tech-enabled, virtual staffing agency connecting healthcare providers (nurses) with post-acute care facilities across the U.S. The company serves skilled nursing facilities and connects them with per diem nurses using its proprietary staffing software. ShiftKey was founded in 2016 and is based in Dallas, Texas.

Deal Context for Buyer #
Overall 1 of 1
Sector: Internet Software and Services 1 of 1
Type: Add-on Acquisition 1 of 1
State: Ohio 1 of 1
Country: United States 1 of 1
Year: 2022 1 of 1

Seller Profile 1

SELLER

Clearlake Capital

Santa Monica, California, United States
Category Private Equity Firm
Founded 2006
PE ASSETS 90.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Clearlake Capital Group is a private equity firm that focuses on corporate divestitures, recapitalizations, buyouts, restructurings, rescue financing, growth capital, turnarounds, and other equity investments. Clearlake seeks to partner with strong management teams by providing long-term capital and operational expertise. Areas of interest include technology, industrials, and consumer. Clearlake Capital Group was formed in 2006 and is based in Santa Monica, California.

Deal Context for Seller #
Overall 32 of 39
Sector: Internet Software and Services 3 of 4
Type: Add-on Acquisition 13 of 14
State: Ohio 1 of 1
Country: United States 30 of 36
Year: 2022 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-30 Chelsea FC

London, United Kingdom

Chelsea FC is an iconic football brand with over 500 million fans across over 180 countries. Chelsea FC was founded in 1905 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-27 Brightly Software

Cary, North Carolina, United States

Brightly Software is a provider of cloud-based operations management software to the education, government, healthcare, and manufacturing verticals. Brightly Software was founded in 1999 and is headquartered in Cary, North Carolina.

Sell $1.6B

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