M&A Deal Summary

Sumeru Equity Partners Acquires Criteria

On May 17, 2019, private equity firm Sumeru Equity Partners acquired internet software and services company Criteria from Level Equity Management

Acquisition Highlights
  • This is Sumeru Equity Partners’ 8th transaction in the Internet Software and Services sector.
  • This is Sumeru Equity Partners’ 12th transaction in the United States.
  • This is Sumeru Equity Partners’ 6th transaction in California.

M&A Deal Summary
Date 2019-05-17
Target Criteria
Sector Internet Software and Services
Buyer(s) Sumeru Equity Partners
Sellers(s) Level Equity Management
Deal Type Secondary Buyout

Target

Criteria

West Hollywood, California, United States
Criteria is a provider of web-based pre-employment testing that allows companies to implement a state-of-the-art employee testing program quickly and cost-effectively, without needing to spend money on costly consulting services. Criteria was founded in 2006 and is based in West Hollywood, California.

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Buyer(S) 1

Buyer

Sumeru Equity Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2014
Size Small
Type Sector Focused
DESCRIPTION

Sumeru Equity Partners, Inc. is a technology-focused private equity firm that makes investments in mid-market software, technology enabled services, and hardware companies with a focus on growth. Sumeru Equity Partners typically invests between $25 and $200 million in companies with revenues greater than $10 million. Sumeru Equity Partners was formed in 2014 and is based in Foster City, California.

DEAL STATS #
Overall 15 of 22
Sector (Internet Software and Services) 8 of 13
Type (Secondary Buyout) 2 of 2
State (California) 6 of 6
Country (United States) 12 of 15
Year (2019) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-17 3Gtms

Columbus, Ohio, United States

3Gtms is the fastest growing tier 1 transportation management system (TMS) provider and is committed to giving mid-to-large shippers and logistics service providers a competitive advantage through technology. 3Gtms was founded in 2013 and is based in Columbus, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-06 Buildium

Boston, Massachusetts, United States

Buildium LLC is provider of property management solution that automates the entire property management lifecycle as well as enabling real estate professionals to win new business from property owners and community associations. Buildium LLC was founded in 2004 and is based in Boston, Massachusetts.

Sell -

Seller(S) 1

SELLER

Level Equity Management

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2009
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Level Equity Management LLC is a private investment firm focused on providing equity and structured capital to growth businesses. Sectors of interest include e-commerce, healthcare services, IT, internet software, and media. Level Equity Management was formed in 2009 and is based in New York City.

DEAL STATS #
Overall 5 of 22
Sector (Internet Software and Services) 4 of 12
Type (Secondary Buyout) 3 of 5
State (California) 2 of 6
Country (United States) 5 of 20
Year (2019) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-09 ArchiveSocial

Durham, North Carolina, United States

ArchiveSocial is a provider of cloud-based archiving and analytics technology. ArchiveSocial was founded in 2011 and is based in Durham, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-22 Vendini

Toronto, Ontario, Canada

Vendini provides dependable and easy-to-use ticketing, marketing, and fundraising solutions to any-sized organization. Everything is in one place. Vendini's customers can access the system from anywhere at any time. Plus, it’s an all-inclusive system. Vendini is based in Toronto, Ontario.

Sell -
Mergr

Product

Company

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