M&A Deal Summary

Tenzing Private Equity Acquires Totara

On October 12, 2023, growth capital firm Tenzing Private Equity acquired software company Totara from Five V Capital

Acquisition Highlights
  • This is Tenzing Private Equity’s 5th transaction in the Software sector.
  • This is Tenzing Private Equity’s 1st transaction in New Zealand.

M&A Deal Summary
Date 2023-10-12
Target Totara
Sector Software
Buyer(s) Tenzing Private Equity
Sellers(s) Five V Capital
Deal Type Secondary Buyout
Advisor(s) Houlihan Lokey (Financial)
DLA Piper (Legal)

Target

Totara

Wellington, New Zealand
Totara builds employee engagement, learning, and performance management technologies that enable large multinational corporations, government entities, and mid-market companies to deliver enterprise-level talent and workforce experiences. Its products are highly flexible and bring powerful freedoms to all organizations with formal and informal learning needs, both within the workplace and the extended enterprise. Totara was formed in 2010 and is based in Wellington, New Zealand.

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Buyer(S) 1

Buyer

Tenzing Private Equity

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2015
Size Small
Type Sector Agnostic
DESCRIPTION

Tenzing Private Equity is a growth oriented private equity investor focused on in founder owned tech and tech-enabled businesses. The Firm seeks businesses valued from £10 to £200 million and operating in the UK and Northern Europe. Target companies typically exhibit high recurring revenue with strong organic growth and provide mission critical B2B products/services. Tenzing Private Equity Was formed in 2015 and is headquartered in London.

DEAL STATS #
Overall 17 of 17
Sector (Software) 5 of 5
Type (Secondary Buyout) 2 of 2
Country (New Zealand) 1 of 1
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-02 DJH Mitten Clarke

Staffordshire, United Kingdom

DJH Mitten Clarke is a chartered accountancy firm with offices in Stoke-on-Trent, Manchester and Walsall that provides exceptional service to the people they work with. DJH Mitten Clarke is based in Staffordshire, United Kingdom.

Buy -

Seller(S) 1

SELLER

Five V Capital

Investor Investor Investor

Category Growth Capital Firm
Founded 2016
PE ASSETS 550M AUD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Five V Capital is a private equity firm focused on investing in and acquiring mid-sized companies in Australia and New Zealand. The Firm will consider businesses in the healthcare, retail, media, consumer, technology and financial services valued from $20 to $200 million. Five V prefers established companies that lead their respective markets, with positive cash flow and strong growth potential. Five V Capital was formed in 2016 and is headquartered in Sydney.

DEAL STATS #
Overall 3 of 4
Sector (Software) 1 of 1
Type (Secondary Buyout) 2 of 2
Country (New Zealand) 2 of 2
Year (2023) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-28 Permaconn

Rydalmere, Australia

Permaconn provides critical alarm comms for high-value industries including financial, retail, government, and educational institutions. Permaconn was founded in 1999 and is based in Rydalmere, Australia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-13 Fat Zebra

Surry Hills, Australia

Fat Zebra is a provider of digital payment solutions to merchants, software providers, and other payment platforms in the Internet economy. Fat Zebra was formed in 2012 and is based in Surry Hills, Australia.

Buy -
Mergr

Product

Company

Legal