M&A Deal Summary

Trimble Acquires TMW Systems

On August 27, 2012, Trimble acquired software company TMW Systems from Peppertree Capital and Pamlico Capital for 335M USD

Acquisition Highlights
  • This is Trimble’s 34th transaction in the Software sector.
  • This is Trimble’s 4th largest (disclosed) transaction.
  • This is Trimble’s 30th transaction in the United States.
  • This is Trimble’s 2nd transaction in Ohio.

M&A Deal Summary

Date 2012-08-27
Target TMW Systems
Sector Software
Buyer(s) Trimble
Sellers(s) Peppertree Capital
Pamlico Capital
Deal Type Add-on Acquisition
Deal Value 335M USD
Advisor(s) William Blair (Financial)
King & Spalding (Legal)

Target

TMW Systems

Mayfield Heights, Ohio, United States
TMW Systems, Inc. is a provider of software to the trucking industry. TMW Systems develops enterprise management software for the surface transportation services industry, including logistics, trucking, and heavy-duty repair and maintenance.

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Buyer(S) 1

Buyer

Trimble

Westminster, Colorado, United States

Category Company
Founded 1978
Sector Information Technology
Employees12,700
Revenue 3.8B USD (2023)
DESCRIPTION
Entrance to Trimble Navigation's corporate headquarters in Sunnyvale, California.
Entrance to Trimble Navigation's corporate headquarters in Sunnyvale, California.

Trimble is a provider of location-based solutions. The Company integrates its positioning expertise in GPS, laser, optical and inertial technologies with application software, wireless communications, and services to provide an array of commercial solutions. Trimble's technology serves a variety of industries including agriculture, engineering and construction, transportation and wireless communications infrastructure. Trimble was founded in 1978 and is based in Westminster, Colorado.


DEAL STATS #
Overall 56 of 106
Sector (Software) 34 of 56
Type (Add-on Acquisition) 46 of 93
State (Ohio) 2 of 2
Country (United States) 30 of 58
Year (2012) 7 of 10
Size (of disclosed) 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-02 WinEstimator

Kent, Washington, United States

WinEstimator, Inc., a provider of construction cost estimating and cost-modeling software. WinEst serves a wide variety of customers from small builders and remodelers, to multi-office general contractors, specialty trades, building owners and public agencies.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-19 Logicway BV

Oldenzaal, Netherlands

Logicway BV, a provider of software for automating payroll and expenses with a specific focus on the transportation and logistics (T&L) industry. Logicway's flexible reporting tools enable customers to pre-calculate salaries and expenses, track hours, monitor key performance indicators and improve report-building capabilities in the back office.

Buy -

Seller(S) 2

SELLER

Peppertree Capital

Chagrin Falls, Ohio, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 4.8B USD
Size Large
Type Sector Focused
DESCRIPTION

Peppertree Capital is a private equity firm that targets investments in mid to large-sized wireless telecommunication infrastructure companies. Peppertree focuses on growing companies with recurring, predictable cash-flows, and led by management with proven track records. Specific areas of interest include communication rooftop developers, fiber network operators, and related real estate projects. Target transaction types include buyouts, recapitalizations and growth capital financings. Peppertree Capital was formed in 2003 and is based in Chagrin Falls, Ohio.


DEAL STATS #
Overall 7 of 10
Sector (Software) 1 of 1
Type (Add-on Acquisition) 4 of 6
State (Ohio) 1 of 1
Country (United States) 7 of 10
Year (2012) 1 of 2
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-09 Branch Towers

Tulsa, Ohio, United States

Branch Towers LLC is a full service solutions provider to the wireless industry. Branch Communications provides a full range of build-to-suit, site acquisition and management services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-04 Pegasus Tower Development

Tazewell, Virginia, United States

Pegasus Tower Development Co. LLC is a wireless infrastructure management and development services company.

Sell -
SELLER

Pamlico Capital

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Pamlico Capital is a private equity group focused on mid-sized transactions. Pamlico looks to invest $25 to $125 million per transaction. Sectors of interest include business and technology services, consumer products/services, industrial, energy, financial services, healthcare, media, and communications. Pamlico will consider both minority and majority positions. Prospective transactions include management or leveraged buyouts, recapitalizations, growth financings, mezzanine, and special situations. Pamlico was formerly known as Wachovia Capital Partners. The Firm was originally formed in 1988 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 27 of 61
Sector (Software) 1 of 7
Type (Add-on Acquisition) 12 of 32
State (Ohio) 1 of 2
Country (United States) 27 of 59
Year (2012) 3 of 3
Size (of disclosed) 7 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-01 TekLinks

Birmingham, Alabama, United States

TekLinks, Inc. is a provider of complex technology solutions and managed and cloud services to businesses throughout Alabama, Mississippi, Tennessee, and the Gulf South.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-05 HEALTHCAREfirst

Springfield, Missouri, United States

HEALTHCAREfirst, Inc. is a provider of Software-as-a-Service (“SaaS”) solutions and services to home health and hospice agencies nationwide. HEALTHCAREfirst's solutions are web-based, providing critical patient information and management tools at the point of care.

Buy -