M&A Deal Summary

Trident Capital, Camden Partners and Rubicon Technology Partners Acquire Harver

On January 1, 2015, Trident Capital, growth capital firm Camden Partners and private equity firm Rubicon Technology Partners acquired software company Harver from Updata Partners

Acquisition Highlights
  • This is Trident Capital’s 18th, Camden Partners’ 5th and Rubicon Technology Partners’ 5th transaction in the Software sector.
  • This is Trident Capital’s 77th, Camden Partners’ 30th and Rubicon Technology Partners’ 4th transaction in the United States.
  • This is Trident Capital’s 5th, Camden Partners’ 2nd and Rubicon Technology Partners’ 1st transaction in New York.

M&A Deal Summary

Date 2015-01-01
Target Harver
Sector Software
Buyer(s) Trident Capital
Camden Partners
Rubicon Technology Partners
Sellers(s) Updata Partners
Deal Type Secondary Buyout

Target

Harver

New York, New York, United States
Harver is a volume hiring solution designed to help innovative companies around the world hire better, faster, and in a fundamentally fair manner. Global organizations, including mcdonald’s, booking.com, valvoline, and alorica use harver to digitally transform their candidate selection process into an experience that recruiters, hiring managers, and candidates love. Harver is based in New York, New York.

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Buyer(S) 3

Buyer

Trident Capital

San Mateo, California, United States

Category Private Equity Firm
Founded 1993
PE ASSETS 1.9B USD
Size Large
Type Sector Focused
DESCRIPTION

Trident Capital was a venture capital firm focused on investments at all company stages, from early and expansion stage investments to buyouts and recapitalizations. Trident focused on investments in tech-enabled sectors, including enterprise software/services, outsourcing and payments, healthcare software/services, internet/consumer, and energy/clean tech. In 2015, Trident ceased investing and the Firm's employees split to form Sunstone Partners, a growth equity firm, and Trident Capital Cybersecurity, a venture firm focused on the cyber security sector.


DEAL STATS #
Overall 85 of 86
Sector: Software M&A 18 of 18
Type: Secondary Buyout M&A Deals 2 of 2
State: New York M&A 5 of 5
Country: United States M&A 77 of 78
Year: 2015 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-13 Appia

Durham, North Carolina, United States

Appia, Inc. is a provider of cross platform, open app store and content marketplace with a catalog of more than 140,000 paid and free titles and relationships with more than 32,000 developers.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-09 Neohapsis

Chicago, Illinois, United States

Neohapsis, Inc. is a provider of mobile and cloud security services. Neohapsis provides risk management, compliance, cloud, application, mobile, and infrastructure security solutions to Fortune 500 customers

Sell -
Buyer

Camden Partners

Owings Mill, Maryland, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1995
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Camden Partners is a growth-oriented private investment firm focused on direct investments as well as structured capital solutions. Camden's direct private equity practice targets equity investments up to $15 million in businesses operating in the technology, software, business services, and education sectors. Prospective companies generally have proven management, proprietary products or high barriers to entry, recurring revenue, and proven business models. Camden Partners was formed in 1995 and is based in Baltimore, Maryland.


DEAL STATS #
Overall 31 of 38
Sector: Software M&A 5 of 7
Type: Secondary Buyout M&A Deals 2 of 2
State: New York M&A 2 of 3
Country: United States M&A 30 of 37
Year: 2015 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-29 Paragon Bioservices

Baltimore, Maryland, United States

Paragon Bioservices, Inc. is a contract development and manufacturing organization (CDMO) whose focus is the development and manufacturing of cutting-edge biopharmaceuticals. Paragon aims to build strong client partnerships with the world’s best biotech and pharma companies, focusing on transformative technologies, including gene therapies (AAV), next-generation vaccines, oncology immunotherapies (oncolytic viruses), and other complex biologics. Paragon Bioservices, Inc. was founded in 1990 and is based in Baltimore, Maryland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-13 NAU

Rapid City, South Dakota, United States

NAU is a regionally accredited institution that offers associate, bachelor's, and master's online college degrees in healthcare, business, nursing & more. NAU was founded in 1941 and is based in Rapid City, South Dakota.

Sell -
DESCRIPTION

Rubicon Technology Partners is a specialist private equity firm firm that invests in lower middle-market enterprise software and technology-enabled services companies. Rubicon looks to make control investments of $75 to $350 million in businesses generating $15 to $75 million in revenue. Target transaction situations include buyouts and recapitalizations of closely held private companies, corporate divestitures, carve-outs or spin-outs, buy and build opportunities, and shareholder liquidity events. Rubicon was founded in 2012 and is based in Boulder, Colorado.


DEAL STATS #
Overall 5 of 22
Sector: Software M&A 5 of 12
Type: Secondary Buyout M&A Deals 1 of 7
State: New York M&A 1 of 1
Country: United States M&A 4 of 16
Year: 2015 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-23 Uptempo

Karlsruhe, Germany

Uptempo is a marketing planning software that helps teams gain visibility into the business impact of marketing programs, higher campaign velocity, and true marketing agility. The company does this by integrating campaign planning, marketing, financial management, and work management, so teams can plan better, pivot faster, spend smarter, and execute with confidence. Uptempo was founded in 1999 and is based in Karlsruhe, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-17 4tell Solutions

Portland, Maine, United States

4tell Solutions is a developer of technology that optimizes the financial, energy, environmental, security and social performance of real estate portfolios and infrastructure assets. 4tell Solutions was founded in 2009 and is based in Portland, Maine.

Buy -

Seller(S) 1

SELLER

Updata Partners

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1998
PE ASSETS 1.5B USD
Size Large
Type Sector Focused
DESCRIPTION

Updata Partners is the investment affiliate of Updata Advisors, an East Coast US based investment bank. Updata Partners looks to invest in growth oriented information technology businesses from early-stage to buyout, with revenues up to $50 million. Updata Partners typically invests between $15 and $150 million as a lead or co-lead investor. Within information technology, Updata has specific interest in; infrastructure software, physical and digital security, storage software, educational software, internet and interactive technology, media and wireless infrastructure and services, financial technology software, retail technology, business intelligence, subscription-based and on-demand information services, and business services. Updata Partners was formed in 1998 and is based in Washington DC.


DEAL STATS #
Overall 26 of 46
Sector: Software M&A 14 of 21
Type: Secondary Buyout M&A Deals 2 of 7
State: New York M&A 1 of 4
Country: United States M&A 26 of 42
Year: 2015 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-29 Pet360

Plymouth Meeting, Pennsylvania, United States

Pet360, Inc. is a online pet information, community and commerce company that operates www.PetFoodDirect.com, an online pet food and supply retailer, www.NationalPetPharmacy.com, a fully certified, full-service pet pharmacy delivering pet meds, vitamins and comprehensive pet health and wellness products; and www.petMD.com, a leading pet health information resource.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-06 Ruby Receptionists

Portland, Oregon, United States

Ruby Receptionists is a technology-enabled provider of live, virtual receptionist services to small and medium businesses. Ruby Receptionists was formed in 2003 and is based in Portland, Oregon.

Buy -