M&A Deal Summary

Sycamore Partners, GTCR and Insight Partners Acquire Rithum

On May 21, 2018, private equity firm Sycamore Partners, private equity firm GTCR and venture capital firm Insight Partners acquired software company Rithum for 1.1B USD

Acquisition Highlights
  • This is Sycamore Partners’ 1st, GTCR’s 6th and Insight Partners’ 28th transaction in the Software sector.
  • This is Sycamore Partners’ 4th, GTCR’s 3rd and Insight Partners’ 7th largest (disclosed) transaction.
  • This is Sycamore Partners’ 13th, GTCR’s 103rd and Insight Partners’ 48th transaction in the United States.
  • This is Sycamore Partners’ 1st, GTCR’s 6th and Insight Partners’ 4th transaction in Georgia.

M&A Deal Summary
Date 2018-05-21
Target Rithum
Sector Software
Buyer(s) Sycamore Partners
GTCR
Insight Partners
Deal Type Going Private
Deal Value 1.1B USD
Advisor(s) Evercore Group (Financial)
Baker Botts (Legal)

Target

Rithum

Atlanta, Georgia, United States
Rithum is a distributed commerce network connecting supply, demand and delivery that helps retailers and brands increase sales by expanding product assortments, promoting products on the channels that perform, and enabling rapid, on-time customer delivery. Rithum was founded in 1997 and is based in Atlanta, Georgia.

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Buyer(S) 3

Buyer

Sycamore Partners

New York, New York, United States
Category Private Equity Firm
Founded 2011
PE ASSETS 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Sycamore Partners is an opportunistic and operationally focused private equity firm that targets businesses and divisions in the consumer and retail sectors. The Firm looks to partner with management teams to improve the operating profitability and strategic value of their businesses. Sycamore was formed in 2011 and is based in New York City.

DEAL STATS #
Overall 15 of 26
Sector (Software) 1 of 1
Type (Going Private) 4 of 5
State (Georgia) 1 of 1
Country (United States) 13 of 22
Year (2018) 1 of 2
Size (of disclosed) 4 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-06 Nine West Holdings

White Plains, New York, United States

Nine West Holdings is a women’s footwear and denim business with a portfolio of brands that includes Nine West, Easy Spirit, Anne Klein, Gloria Vanderbilt, and l.e.i. The company is a wholesale partner to major U.S. retailers, operates over 250 branded concept stores, and has international licensing relationships with over 1,200 points of sale abroad.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-17 E.M.P. Merchandising Handelsgesellschaft mbH

Lingen, Germany

E.M.P. Merchandising Handelsgesellschaft mbH is an online multi-channel retailer of rock music and entertainment-inspired apparel and accessories. EMP today offers fans merchandise from globally renowned bands such as Twenty One Pilots, Panic! At The Disco, Metallica, Motörhead, Guns n Roses, Nirvana, Pink Floyd, AC/DC, The Doors, and many others. Beyond music, the company has established itself as a lifestyle e-tailer, offering merchandise from major entertainment brands such as Disney, Marvel, Star Wars, and Harry Potter; gaming brands such as Nintendo and PlayStation; sporting franchises such as the NFL; and alternative fashion brands such as Vans. The company operates a network of websites serving 18 European countries, with a community of millions of customers, and a fast-growing paid loyalty program.

Sell -
Buyer

GTCR

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1980
PE ASSETS 15.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

GTCR is a private equity firm that typically partners with management when pursuing acquisitions. The Firm looks to grow companies through build-on acquisitions, consolidations, and internal growth. GTCR will consider both equity and mezzanine capital commitments and concentrates its investment activity in consumer products & services, healthcare services, outsourced business services, technology, transaction processing, and pharma/medical products. GTCR was formed in 1980 and is based in Chicago, Illinois.

DEAL STATS #
Overall 107 of 143
Sector (Software) 6 of 11
Type (Going Private) 6 of 8
State (Georgia) 6 of 8
Country (United States) 103 of 138
Year (2018) 3 of 4
Size (of disclosed) 3 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-23 Curo Health Services

Mooresville, North Carolina, United States

Curo Health Services is a provider of home healthcare and hospice services throughout various communities across the country. Guided by a patient’s physician, Curo’s team of clinicians combine clinical expertise with dedicated and compassionate care to help patients increase their independence and live a better quality of life. Curo Health Services was founded in 2010 and is based in Mooresville, North Carolina.

Sell $1.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-26 Beeline

Jacksonville, Florida, United States

Beeline is an independent provider of cloud solutions for sourcing and managing the complex world of contingent labor that enables companies to increase profitability and flexibility by utilizing an agile mix of employee and non-employee talent. The company's software helps procurement, sourcing, and human resources professionals optimize costs, reduce risks, and add value to their services procurement and contingent workforce programs. It delivers innovative technology, end-to-end global and localized customer engagement services, and value-added capabilities which help many of the world's largest enterprises meet their most critical talent needs. Beeline was formed in 1999 and is based in Jacksonville, Florida.

Sell -
Buyer

Insight Partners

Investor Investor Investor Investor Investor

Category Venture Capital Firm
Founded 1995
PE ASSETS 80.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Insight Partners is a growth capital investment firm focused on early to later stage investments principally in the software sector. Insight Partners was formed in 1995 and is based in New York, New York.

DEAL STATS #
Overall 60 of 91
Sector (Software) 28 of 38
Type (Going Private) 4 of 7
State (Georgia) 4 of 4
Country (United States) 48 of 72
Year (2018) 7 of 14
Size (of disclosed) 7 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-03 Unitrends

Burlington, Massachusetts, United States

Unitrends, Inc. is a provider of disk-based backup appliances (replacements for existing tape backup devices) for small and medium businesses, as well as an online backup service to backup data over the public internet to a remote datacenter.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-22 Virgin Pulse

Providence, Rhode Island, United States

Virgin Pulse is a provider of employee-centric solutions that drive wellbeing, culture and productivity across organizations around the world. Virgin Pulse platform is purpose built to deliver a personalized, consumer-grade user experience designed to promote health, productivity, and culture across organizations and employees. Virgin Pulse was founded in 2004 and is based in Providence, Rhode Island.

Sell -
Mergr

Product

Company

Legal