M&A Deal Summary

The Blackstone Group Acquires IRTH Solutions

On December 1, 2021, private equity firm The Blackstone Group acquired software company IRTH Solutions from Gauge Capital

Acquisition Highlights
  • This is The Blackstone Group’s 10th transaction in the Software sector.
  • This is The Blackstone Group’s 187th transaction in the United States.
  • This is The Blackstone Group’s 5th transaction in Ohio.

M&A Deal Summary
Date 2021-12-01
Target IRTH Solutions
Sector Software
Buyer(s) The Blackstone Group
Sellers(s) Gauge Capital
Deal Type Secondary Buyout
Advisor(s) Lazard Ltd.
Lincoln International (Financial)
Ropes & Gray (Legal)

Target

IRTH Solutions

Columbus, Ohio, United States
IRTH Solutions is a provider of software and services to the underground utility damage prevention industry. Irth's customers include blue-chip utilities, telcos, pipeline operators and municipalities. Irth's software enables its customers to receive underground construction activity notifications from One Call Centers electronically via irth’s software, replacing traditional fax and email delivery methods with electronic screen notifications efficiently and accurately using geographic information systems (GIS) to streamline the customer's ticket management process. IRTH Solutions was founded 9in 1985 and is based in Columbus, Ohio.

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Buyer(S) 1

Buyer

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 131.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York, New York.

DEAL STATS #
Overall 301 of 339
Sector (Software) 10 of 14
Type (Secondary Buyout) 65 of 81
State (Ohio) 5 of 5
Country (United States) 187 of 211
Year (2021) 26 of 27
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-01 Sustana

De Pere, Wisconsin, United States

Sustana is a manufacturer of premium de-inked recycled pulp from post-consumer waste. manufacturer of sustainable recycled fibers, paper, and packaging of the highest quality de-inked recycled pulp for use in the production of writing paper, tissue paper, and FDA-compliant products. Sustana was founded in 1992 and is based in De Pere, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-07 Cloudreach

London, United Kingdom

Cloudreach is a cloud computing consultancy, focused on the implementation and operational support of public cloud services, including Amazon Web Services, Microsoft Azure, and Google Cloud Platform. Cloudreach was founded in 2009 and is based in London, England.

Sell -

Seller(S) 1

SELLER

Gauge Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2013
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Gauge Capital is a lower middle-market private equity firm focused on acquiring companies throughout the US and Canada. Gauge seeks businesses operating in the business services, healthcare services, consumer products, and food sectors. The Firm targets companies with $5 to $40 million of EBITDA. Prospective transaction situations include management buyouts, recapitalizations, divestitures, take privates, consolidations, and growth capital financings. Gauge Capital was formed in 2013 and is headquartered in Southlake, Texas.

DEAL STATS #
Overall 7 of 9
Sector (Software) 1 of 1
Type (Secondary Buyout) 4 of 4
State (Ohio) 1 of 1
Country (United States) 7 of 9
Year (2021) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-02 Teachers of Tomorrow

Houston, Texas, United States

Teachers of Tomorrow provides accredited pre-certification training, research-based test preparation, and ongoing professional development. Teachers of Tomorrow was founded in 2005 and is based in Houston, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-11 7 Mindsets

Roswell, Georgia, United States

7 Mindsets is a provider of online social-emotional learning (SEL) curriculum and professional development solutions to K-12 districts and schools. The mindsets-based curriculum includes more than 370 unique lessons for students in every grade in both English and Spanish. 7 Mindsets was formed in 2009 and is based in Roswell, Georgia.

Buy -
Mergr

Product

Company

Legal