Secondary Buyout • Information Technology

The Carlyle Group Acquires Workforce Logiq

On July 17, 2017, private equity firm The Carlyle Group acquired information technology company Workforce Logiq from TruArc Partners

Acquisition Context
  • This is The Carlyle Group’s 25th transaction in the Information Technology sector.
  • This is The Carlyle Group’s 288th transaction in the United States.
  • This is The Carlyle Group’s 15th transaction in Florida.
Investment Fate
  • Workforce Logiq was sold to a strategic buyer in 2021.

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M&A Deal Summary

Date July 17, 2017
Target Workforce Logiq
Sector Information Technology
Buyer(s) The Carlyle Group
Sellers(s) TruArc Partners
Deal Type Secondary Buyout
Advisor(s) Baird (Financial)
Weil Gotshal & Manges (Legal)

Target Company

Workforce Logiq

Orlando, Florida, United States
Workforce Logiq is a global provider of software and services to large corporations in the fast-growing, global workforce management space. Workforce Logiq was formed in 1999 and is based in Orlando, Florida.
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Buyer Overview 1

Buyer

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


Deal Context for Buyer #
Overall 594 of 750
Sector: Information Technology 25 of 39
Type: Secondary Buyout 85 of 130
State: Florida 15 of 15
Country: United States 288 of 350
Year: 2017 14 of 29
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-17 Ubox

Beijing, China

Ubox manufactures vending machines and owns a national vending machine network in China.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-18 Praesidiad

Birmingham, United Kingdom

Praesidiad is a producer of force protection solutions, integrated perimeter security systems, and industrial mesh production and fencing products. Praesidiad is based in Birmingham, United Kingdom.

Buy -

Seller Profile 1

SELLER

TruArc Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 3.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

TruArc Partners is a private equity firm that invests in small to mid-market companies throughout North America. The Firm seeks to invest $50 to $150 million in companies valued between $100 and $500 million. TruArc Partners will consider a variety of transaction types, including leveraged acquisitions, build-ups, recapitalizations, restructurings and growth equity commitments. TruArc Partners was formerly known as Snow Phipps Group. The Firm was established in 2005 and is based in New York, New York.


Deal Context for Seller #
Overall 10 of 18
Sector: Information Technology 2 of 2
Type: Secondary Buyout 3 of 9
State: Florida 3 of 3
Country: United States 10 of 18
Year: 2017 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-06 Velvet

Culver City, California, United States

Velvet designs, manufactures and sells upscale women's and men's apparel. Velvet's portfolio covers a wide range from contemporary to designer price points and includes t-shirts, tops, pants, shorts, skirts, dresses and other categories. Products are primarily sold domestically through wholesale (department and specialty stores), online and retail channels and internationally through distributors.

Sell $37M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-01 Ideal Tridon

Smyrna, Tennessee, United States

Ideal Tridon is a global engineering solutions designer and manufacturer of stainless steel worm gear and specialty clamps and couplings for industrial, heavy duty, plumbing, irrigation, marine and automotive applications. Ideal Tridon was founded in 1913 and is based in Smyrna, Tennessee.

Buy -