M&A Deal Summary

Trive Capital and Six Pillars Partners Acquire Cadient Talent

On June 17, 2019, private equity firms Trive Capital and Six Pillars Partners acquired internet software and services company Cadient Talent from UKG

Acquisition Highlights
  • This is Trive Capital’s 1st and Six Pillars Partners’ 1st transaction in the Internet Software and Services sector.
  • This is Trive Capital’s 25th and Six Pillars Partners’ 1st transaction in the United States.
  • This is Trive Capital’s 1st and Six Pillars Partners’ 1st transaction in North Carolina.

M&A Deal Summary

Date 2019-06-17
Target Cadient Talent
Sector Internet Software and Services
Buyer(s) Trive Capital
Six Pillars Partners
Sellers(s) UKG
Deal Type Divestiture

Target

Cadient Talent

Morrisville, North Carolina, United States
Cadient Talent provides applicant tracking and assessment products, delivered via a software-as-a-service model, to customers throughout the United States and Canada. Cadient offers one unified recruiting platform for salaried and hourly positions and is a leader in solving the complexities of high-volume, hourly hiring. The solution provides distributed managers with a constant pipeline of high-quality candidates for their workforce. Cadient Talent is based in Morrisville, North Carolina.

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Buyer(S) 2

Buyer

Trive Capital

Dallas, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2012
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Trive Capital is a hands-on, operationally-focused private equity firm that targets complex or special situations in 'out of favor' but protected market niches. The Firm will consider businesses throughout North America offering differentiated products/services with leading/defensible industry positions. Trive looks to commit $10 to $300 million per investment in businesses generating revenues of $40 million to $1.5 billion. Sectors of interest include automotive, transportation, aerospace/defense, building products, construction, infrastructure, healthcare, manufacturing, industrial, chemicals, distribution, consumer goods, energy services, business services, and communications. Trive Capital was founded in 2012 and is based in Dallas, Texas.


DEAL STATS #
Overall 26 of 54
Sector (Internet Software and Services) 1 of 1
Type (Divestiture) 2 of 4
State (North Carolina) 1 of 1
Country (United States) 25 of 51
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-30 Southern Towing

Memphis, Tennessee, United States

Southern Towing Co. is a transporter of fertilizer and other products along the inland waterways of the United States. STC operates a fleet of towboats and barges to provide marine transportation services to customers in the agriculture and industrial end markets. Southern Towing Co. was founded in 1958 and is based in Memphis, Tennessee.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-08 Valence Surface Technologies

El Segundo, California, United States

Valence Surface Technologies. is a provider of aerospace surface finishing services, which has historically been a highly fragmented, geographically focused, and technically challenging part of the supply chain. The company was built to offer a differentiated, full-service, supply chain solution for critical, complex parts to the aerospace industry, delivering the lead times, capacity, and technical resources needed to match growing aircraft build rate demand. Valence Surface Technologies was founded in 1957 and is based in El Segundo, California.

Sell -
DESCRIPTION

Six Pillars Partners is a private equity firm focused on acquiring founder owned businesses in asset-light industries. Six Pillars considers companies with annual EBITDA of $4 to $25 million and looks to fund management buyouts and majority recapitalizations. The Firm invests in a variety of industries including business services, education, staffing, and insurance. Six Pillars Partners was founded in 2013 and is based in Addison, Texas.


DEAL STATS #
Overall 1 of 3
Sector (Internet Software and Services) 1 of 1
Type (Divestiture) 1 of 1
State (North Carolina) 1 of 1
Country (United States) 1 of 3
Year (2019) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-16 Liberty Group

Houston, Texas, United States

Liberty Group provides temporary staffing, executive search, and employee screening services to clients in the multifamily residential real estate industry. Liberty Group was founded in 1977 and is based in Houston, Texas.

Buy -

Seller(S) 1

SELLER

UKG

Lowell, Massachusetts, United States

Category Company
Founded 1977
Sector Internet Software and Services
DESCRIPTION

UKG is a provider of cloud-based workforce management solutions. Company solutions, which include time and labor, scheduling, talent management, human resources, payroll, absence management, labor activity tracking, data collection, self-service and workforce analytics are designed for a wide range of businesses and organizations from single-site to large multi-site enterprises. UKG was founded in 1977 and is based in Lowell, Massachusetts.


DEAL STATS #
Overall 2 of 2
Sector (Internet Software and Services) 1 of 1
Type (Divestiture) 2 of 2
State (North Carolina) 1 of 1
Country (United States) 1 of 1
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-19 AD OPT Technologies

Montreal, Quebec, Canada

AD OPT Technologies, Inc. is an aviation software that provides crew management solutions to some of the biggest names in the global airline industry. AD OPT is a widely recognized name for over 30 years in the global aviation industry for digital innovation, and its progressive crew optimization technology helps airlines assign cockpit and cabin crew to the flights in the most optimal manner to achieve operational efficiency, maintain full regulatory compliance, reduce operational costs and at the same time improve quality of life of the crew.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-02 Optimum Solutions

Nashville, Tennessee, United States

Optimum Solutions, Inc. is a provider of human capital management (HCM) services and solutions to more than 600 organizations. Optimum provides web-enabled in house software for both Windows and IBM i (AS/400, iSeries, and System i) as well as a cloud-based SaaS solution. Optimum Solutions, Inc. was founded in 1987 and is based in Nashville, Tennessee.

Buy -