Investment Summary

Spruce Grove Capital, Sage Capital Partners and Wavecrest Growth Partners Invest In CarData Consultants

On March 23, 2021, search fund Spruce Grove Capital, private equity firm Sage Capital Partners and growth capital firm Wavecrest Growth Partners invested in internet software and services company CarData Consultants

Investment Highlights
  • This is Spruce Grove Capital’s 1st, Sage Capital Partners’ 2nd and Wavecrest Growth Partners’ 2nd transaction in the Internet Software and Services sector.
  • This is Spruce Grove Capital’s 1st, Sage Capital Partners’ 3rd and Wavecrest Growth Partners’ 2nd transaction in Canada.
  • This is Spruce Grove Capital’s 1st, Sage Capital Partners’ 1st and Wavecrest Growth Partners’ 2nd transaction in Ontario.

Investment Summary

Date 2021-03-23
Target CarData Consultants
Sector Internet Software and Services
Investor(s) Spruce Grove Capital
Sage Capital Partners
Wavecrest Growth Partners
Deal Type Growth Capital

Target

CarData Consultants

Toronto, Ontario, Canada
CarData Consultants provides vehicle reimbursement plans for mid-size to Fortune 500 corporations. Technology-focused solutions featuring Smart DataBases, cloud computing, and SaaS; and built on the Client Service first model. The company offers savings for companies moving from company cars, cents per mile, or flat taxable plans. Plans offer outsourced or in-house administration tailored to each business's needs. CarData Consultants was formed in 1999 and is based in Toronto, Ontario.

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Investor(S) 3

DESCRIPTION


DEAL STATS #
Overall 1 of 1
Sector: Internet Software and Services M&A 1 of 1
Type: Growth Capital M&A Deals 1 of 1
State: Ontario M&A 1 of 1
Country: Canada M&A 1 of 1
Year: 2021 M&A 1 of 1
Investor

Sage Capital Partners

Investor Investor


Category Private Equity Firm
Founded 2019
PE ASSETS 40M USD
Size Small
Type Sector Focused
DESCRIPTION

Sage Capital Partners is a private investment firm focused on backing search funds seeking lower middle-market Canadian private companies. The Firm looks to support search funds seeking profitable ($1.5 to 6 million of EBITDA) businesses operating in growing markets, with stable customers, unique products/services, and where the owner is looking to exit. Sectors of interest include business/tech services and software/SaaS. Sage Capital Partners was formed in 2019.


DEAL STATS #
Overall 3 of 7
Sector: Internet Software and Services M&A 2 of 3
Type: Growth Capital M&A Deals 1 of 4
State: Ontario M&A 1 of 4
Country: Canada M&A 3 of 6
Year: 2021 M&A 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-23 Crowd Content

Victoria, British Columbia, Canada

Crowd Content is a content creation service provider. Crowd Content's platform connects talented writers and editors with businesses in need of high-quality, publish-ready content at scale. Crowd Content serves enterprise and SMB customers through its cloud portal, where it provides self-serve and fully managed content services. Crowd Content was founded in 2013 and is based in Victoria, British Columbia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-05 Ti Foods

Markham, Ontario, Canada

Ti Foods is a sales, marketing and distribution company of Asian foods in Canada. The company's business spans coast to coast with customers in the retail and foodservice channels. Ti Foods was formed in 1985 and is based in Markham, Ontario.

Buy -
DESCRIPTION

Wavecrest Growth Partners is a private equity firm that looks to acquire B2B software and technology companies with $5 to $25 million of revenue. The Firm seeks companies where the founder is at an inflection point in taking the business to the next level. Wavecrest Growth Partners was formed in 2016 and is headquartered in Boston, Massachusetts.


DEAL STATS #
Overall 9 of 14
Sector: Internet Software and Services M&A 2 of 3
Type: Growth Capital M&A Deals 8 of 13
State: Ontario M&A 2 of 2
Country: Canada M&A 2 of 2
Year: 2021 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-03 Volante Technologies

Jersey City, New Jersey, United States

Volante Technologies is a global provider of technology and software as a service to accelerate digital transformation and modernization in financial services. Clients include the world's largest banks, market infrastructures, exchanges, clearing houses, corporate treasuries, and card networks. Volante's ecosystem of business services simplifies and automates complex systems and processes in payments, capital markets, and financial message integration. Volante Technologies is based in Jersey City, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-07 Pole Star Global

London, United Kingdom

Pole Star Global is a provider of cloud-based compliance software solutions to the maritime, financial and government sectors. Pole Star Global was founded in 1998 and is based in London, United Kingdom.

Buy -