M&A Deal Summary

Smartsheet Acquires Outfit

On September 1, 2022, Smartsheet acquired marketing company Outfit from Five Elms Capital

Acquisition Highlights
  • This is Smartsheet’s 1st transaction in the Marketing sector.
  • This is Smartsheet’s 1st transaction in Australia.

M&A Deal Summary

Date 2022-09-01
Target Outfit
Sector Marketing
Buyer(s) Smartsheet
Sellers(s) Five Elms Capital
Deal Type Add-on Acquisition

Target

Outfit

Brisbane, Australia
Outfit is a provider of enterprise brand management solutions. Outfit allows amplifying the power of brands through automated marketing production. Outfit was founded in 2015 and is based in Brisbane, Australia.

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Buyer(S) 1

Buyer

Smartsheet

Bellevue, Washington, United States

Category Company
Founded 2005
Sector Internet Software and Services
Employees3,341
Revenue 958M USD (2024)
DESCRIPTION

Smartsheet is a cloud?based work management platform designed to help teams plan, track, automate, and report on work across projects and workflows. The Company offers a no?code platform that integrates with existing systems and scales from individual teams to enterprise portfolios. Smartsheet was founded in 2005 and is based in Bellevue, Washington.


DEAL STATS #
Overall 4 of 4
Sector: Marketing M&A 1 of 1
Type: Add-on Acquisition M&A Deals 4 of 4
Country: Australia M&A 1 of 1
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-24 Brandfolder

Denver, Colorado, United States

Brandfolder provides a centralized platform to easily organize, discover, control, distribute, and measure all forms of digital content. Brandfolder was founded in 2012 and is based in Denver, Colorado.

Buy $155M

Seller(S) 1

SELLER

Five Elms Capital

Kansas City, Missouri, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2006
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Five Elms Capital is a private investment firm focused on investing in and partnering with founder-owned bootstrapped business services companies. The Firm will consider providing growth capital or to support shareholder liquidity needs. The Firm typically looks to invest $15 to $150 million of equity capital per transaction. Five Elms Capital was formed in 2006 and is based in Kansas City, Missouri.


DEAL STATS #
Overall 16 of 18
Sector: Marketing M&A 1 of 1
Type: Add-on Acquisition M&A Deals 13 of 13
Country: Australia M&A 1 of 1
Year: 2022 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-18 Proxyclick

Brussels, Belgium

Proxyclick is a cloud-based visitor management platform engineered to connect people in the workplace without compromising the health, security, or compliance objectives of the enterprise. Proxyclick was founded in 2010 and is based in Brussels, Belgium.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-27 Aline

Louisville, Kentucky, United States

Aline is a provider of CRM solutions for the senior living industry. Aline was founded in 2011 and is based in Louisville, Kentucky.

Sell -