M&A Deal Summary

Softline Acquires MDaudit

On June 26, 2024, Softline acquired business services company MDaudit from Primus Capital

Acquisition Highlights
  • This is Softline’s 1st transaction in the Business Services sector.
  • This is Softline’s 1st transaction in the United States.
  • This is Softline’s 1st transaction in Massachusetts.

M&A Deal Summary
Date 2024-06-26
Target MDaudit
Sector Business Services
Buyer(s) Softline
Sellers(s) Primus Capital
Deal Type Add-on Acquisition

Target

MDaudit

Waltham, Massachusetts, United States
MDaudit is a provider of consulting services and billing and compliance audit software for university-based, non-profit, mission-based and for-profit hospitals and physician practices across the U.S. In its consulting services practice, Hayes provides clinical/IT consulting, revenue cycle management and strategic consulting services to leading healthcare organizations in the U.S. MDaudit was formed in 1993 and is based in Waltham, Massachusetts.

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Buyer(S) 1

Buyer

Softline

Moscow, Russia
Category Company
Founded 1993
Sector Information Technology
DESCRIPTION

Softline is a global IT solutions and services provider focused on emerging markets. Softline offers a broad range of services, including software, hardware, as well as cloud, security, and IT consulting. Softline was founded in 1993 and is based in Moscow, Russia.

DEAL STATS #
Overall 1 of 1
Sector (Business Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Massachusetts) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1

Seller(S) 1

SELLER

Primus Capital

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1983
PE ASSETS 900M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Primus Capital is a private equity firm focused on investing in established companies in the business services, healthcare and education industry sectors. Primus looks for established, high-growth companies with strong management and predictable/recurring revenues. The Firm will consider both control and minority positions and has a target investment size of $15 to $70 million. Prospective transaction types include growth equity financings, recapitalizations, and management-led buyouts. Primus Capital was formed in 1983 and is based in Cleveland, Ohio.

DEAL STATS #
Overall 45 of 46
Sector (Business Services) 5 of 5
Type (Add-on Acquisition) 27 of 28
State (Massachusetts) 2 of 2
Country (United States) 44 of 45
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-28 Harmony Healthcare IT

South Bend, Indiana, United States

Harmony Healthcare IT is a data management firm that moves and stores patient, employee, and business records for healthcare organizations. The company’s mission is to preserve vital information that will improve lives. Harmony Healthcare IT employs experts in data extraction, migration, retention, interoperability, and analytics to provide its clients with trusted solutions. Harmony Healthcare IT was founded in 2006 and is based in South Bend, Indiana.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-11 Healthcare Bluebook

Nashville, Tennessee, United States

Healthcare Bluebook is an independent provider of healthcare price and quality transparency solutions. The company helps people save money on healthcare by showing them pricing and quality differences for common procedures at facilities in their area charges that can vary by 2X to 10X. Healthcare Bluebook was founded in 2007 and is based in Nashville, Tennessee.

Sell -
Mergr

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