M&A Deal Summary

SHRM Acquires Linkage

On September 29, 2022, SHRM acquired education company Linkage from Renovus Capital, Argosy Private Equity and Five Points Capital

Acquisition Highlights
  • This is SHRM’s 1st transaction in the Education sector.
  • This is SHRM’s 1st transaction in the United States.
  • This is SHRM’s 1st transaction in Massachusetts.

M&A Deal Summary
Date 2022-09-29
Target Linkage
Sector Education
Buyer(s) SHRM
Sellers(s) Renovus Capital
Argosy Private Equity
Five Points Capital
Deal Type Add-on Acquisition
Advisor(s) Tyton Partners (Financial)
DLA Piper (Legal)

Target

Linkage

Burlington, Massachusetts, United States
Linkage offers a variety of leadership training programs for senior and high potential executives of large companies, covering such areas as organizational development, innovation, team assessment and women in leadership. Linkage was founded in 1988 and is based in Burlington, Massachusetts.

Search 201,292 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

SHRM

Alexandria, Virginia, United States
Category Company
Founded 1948
Sector Staffing
DESCRIPTION

SHRM is a professional human resources membership association. SHRM promotes the role of HR as a profession and provides education, certification, and networking to its members, while lobbying Congress on issues pertinent to labor management. SHRM was founded in 1948 and is based in Alexandria, Virginia.

DEAL STATS #
Overall 1 of 1
Sector (Education) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Massachusetts) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1

Seller(S) 3

SELLER

Renovus Capital

Wayne, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2010
PE ASSETS 1.5B USD
Size Large
Type Sector Focused
DESCRIPTION

Renovus Capital is a private equity firm focused on investing in small to mid-sized education companies. Specific areas of interest include for-profit colleges and schools, training companies, content providers, and technology and services businesses to education providers. Renovus looks for companies with 'strong growth prospects', proven business models and EBITDA of at least $3 million. Renovus Capital was formed in 2010 and is based in Wayne, Pennsylvania.

DEAL STATS #
Overall 12 of 15
Sector (Education) 7 of 7
Type (Add-on Acquisition) 4 of 6
State (Massachusetts) 1 of 1
Country (United States) 11 of 14
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-11 Pragmatic Institute

Phoenix, Arizona, United States

Pragmatic Institute is an operator of a corporate training company focused on serving product management and marketing professionals. Pragmatic Institute’s product management framework and world-class instructors are recognized as best-in-class by leading technology companies throughout the world. Pragmatic Institute was founded in 1993 and is based in Phoenix, Arizona.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-11 Premier International Enterprises

Chicago, Illinois, United States

Premier International Enterprises is a technology consulting firm specializing in data migration. The company’s innovative services and Applaud® software reduce the overall risk in a technology transformation and ensure projects remain on track in even the most complex environments. Premier International Enterprises was founded in 1985 and is based in Chicago, Illinois.

Buy -
SELLER

Argosy Private Equity

Wayne, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1990
PE ASSETS 575M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Argosy Private Equity is the private equity arm of Argosy Capital, an asset management firm. Argosy Private Equity provides both debt and equity capital to lower middle-market companies located throughout the US. Argosy focuses on growth companies with experienced management teams and revenues between $15 and $100 million and EBITDA of $3 to $9 million. Argosy looks to invest $5 - $20 million per transaction. Specific areas of interest include manufacturing, business services, franchising and Value added distributions. The Firm will consider a variety of transaction types, including MBO’s, recapitalizations, growth equity and acquisitions. Argosy was formed in 1990 and is based in Wayne, Pennsylvania.

DEAL STATS #
Overall 51 of 53
Sector (Education) 1 of 1
Type (Add-on Acquisition) 37 of 38
State (Massachusetts) 2 of 2
Country (United States) 51 of 53
Year (2022) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-16 Component Sourcing International

Charlotte, North Carolina, United States

Component Sourcing International is a distributor providing component sourcing, kitting, sub-assembly, logistics and vendor/inventory management services for industrial and material handling manufacturers and OEMs. Component Sourcing International was founded in 1982 and is based in Charlotte, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-29 Best Warehousing & Transportation

Atlanta, Georgia, United States

Best Warehousing & Transportation is a third-party logistics provider specializing in comprehensive, client-focused solutions, including transportation, warehousing and storage, logistics handling, and other services. Best Warehousing & Transportation is based in Atlanta, Georgia.

Buy -
SELLER

Five Points Capital

Winston-Salem, North Carolina, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Five Points Capital makes both direct private equity and junior capital investments in US-based middle-market companies. Five Points prefers control based investments and will consider opportunities in a variety of industries. For both equity and mezzanine investments, the Firm looks to commit $5 to $25 million of capital in businesses with at least $10 million in sales and $3 million of EBITDA. Five Points Capital was formerly known as BB&T Capital Partners and re-branded in 2015. The Firm was established in 1997 and is based in Winston-Salem, North Carolina.

DEAL STATS #
Overall 49 of 58
Sector (Education) 3 of 3
Type (Add-on Acquisition) 18 of 24
State (Massachusetts) 2 of 2
Country (United States) 49 of 58
Year (2022) 8 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-27 Synoptek

Irvine, California, United States

Synoptek provides information technology management services and support to organizations worldwide. The company offers solutions to manage and operate IT infrastructure using their advanced IT service management (ITSM) capabilities, automated toolsets, and skilled technologists. Synoptek was formed in 2001 and is based in Irvine, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-04 MojoTech

Providence, Rhode Island, United States

MojoTech is a provider of software engineering, design, and product management services that enable clients to achieve strategic goals traditionally hindered by scale, complexity, regulatory and digital transformation barriers. MojoTech is based in Providence, Rhode Island.

Buy -
Mergr

Product

Company

Legal