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M&A Deal Summary

UKG Acquires Empower Software Solutions

On January 14, 2016, UKG acquired software company Empower Software Solutions from Atlanta Equity Investors, Chatham Capital Partners and Lake Capital

Acquisition Highlights
  • This is UKG’s 9th transaction in the Software sector.
  • This is UKG’s 10th transaction in the United States.
  • This is UKG’s 2nd transaction in Florida.

M&A Deal Summary
Date 2016-01-14
Target Empower Software Solutions
Sector Software
Buyer(s) UKG
Sellers(s) Atlanta Equity Investors
Chatham Capital Partners
Lake Capital
Deal Type Add-on Acquisition

Target

Empower Software Solutions

Orlando, Florida, United States
Empower Software, headquartered in Orlando, Fla. and founded in 2007, offers time and attendance, scheduling, payroll, HR management, and tax filing software applications and services that help organizations effectively manage their workforces and enhance employee engagement.

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Buyer(S) 1

Buyer

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. The 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 12 of 27
Sector: Software M&A 9 of 13
Type: Add-on Acquisition M&A Deals 9 of 23
State: Florida M&A 2 of 3
Country: United States M&A 10 of 21
Year: 2016 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-18 Kaba Workforce Solutions - AutoTime Business

United States

Kaba Workforce Solutions - AutoTime Business is a time and attendance and labor management solution.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-28 EmLogis

Houston, Texas, United States

EmLogis, Inc. is a provider of employee scheduling software solutions for some of the most complex staffing requirements including healthcare, public service and commercial organizations.

Buy -

Seller(S) 3

SELLER

Atlanta Equity Investors

Atlanta, Georgia, United States
Category Private Equity Firm
Founded 2007
PE ASSETS 109M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Atlanta Equity is a private equity firm focused on investments in Southeast US-based growth companies. The Firm looks to acquire control stakes in businesses generating $20 to $200 million in annual sales and at least $5 million in EBITDA. Target sectors include business services, construction, healthcare, specialty manufacturing, technology and retail. Atlanta Equity prefers businesses operating in fragmented markets with sustainable competitive advantages. Atlanta Equity was formed in 2007 and is based in Atlanta, Georgia.

DEAL STATS #
Overall 4 of 4
Sector: Software M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 2
State: Florida M&A 1 of 1
Country: United States M&A 4 of 4
Year: 2016 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-01 Consumer Financial Services

Shelton, Connecticut, United States

Consumer Financial Services is a provider of secured commercial lenders and original equipment manufacturers nationwide with a variety of highly tailored debtor identification, account negotiation, and collateral recovery services.

Sell -
SELLER

Chatham Capital Partners

Atlanta, Georgia, United States

Investor Investor

Category Mezzanine Finance Firm
Founded 2001
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Chatham Capital Partners is a mezzanine finance firm that provides capital to lower middle-market companies. Chatham looks for investments in healthcare, manufacturing, and service companies with revenues of $10 to $50 million. Chatham will consider opportunities across the US with a preference for companies located in the Eastern and South regions of the US. Chatham will not consider early-stage, venture capital or real estate investments. Chatham was formed in 2001 and is based in Atlanta, Georgia.

DEAL STATS #
Overall 14 of 17
Sector: Software M&A 1 of 1
Type: Add-on Acquisition M&A Deals 8 of 8
State: Florida M&A 1 of 1
Country: United States M&A 14 of 17
Year: 2016 M&A 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-24 Buffet Partners

Plano, Texas, United States

Buffet Partners operates a 55-unit chain of family-style cafeteria and buffet restaurants across six states in the Southwestern United States.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-19 Victra

Raleigh, North Carolina, United States

Victra operates as an exclusive authorized agent for Verizon Wireless. Victra has approximately 1,600 Verizon-branded retail stores across 49 states, offering a comprehensive mix of wireless devices including smartphones, feature phones, tablets, mobile broadband, and wearables; as well as a broad range of accessories and device insurance coverage. Victra was founded in 1996 and is based in Raleigh, North Carolina.

Sell -
SELLER

Lake Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Lake Capital is a private equity firm that targets a limited number of middle-market, service-based companies. The firm typically allocates $50 to $75 million equity to each portfolio company initiative. However, with seller financing, third-party debt, and co-investment opportunities, significant capital (in addition to the initial equity allocation) is available to each initiative. The service-based businesses the firm pursues include marketing services, finance-related services, specialty services, healthcare services, consumer services, technology services, business process outsourcing services, and marketing services. The firm is typically interested in buyout, partnership and start-up opportunities. Lake Capital was formed in 1998 and is based in Chicago, Illinois.

DEAL STATS #
Overall 21 of 24
Sector: Software M&A 1 of 1
Type: Add-on Acquisition M&A Deals 5 of 6
State: Florida M&A 1 of 1
Country: United States M&A 21 of 23
Year: 2016 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-01 ORC International

Princeton, New Jersey, United States

ORC International, Inc. provides collaborative and consultative research solutions for organizations worldwide.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-19 Addison Group

Chicago, Illinois, United States

Addison Group delivers the expertise and talent that companies need to achieve and sustain business growth, offering a full suite of consulting services and talent solution capabilities across multiple sectors, including information technology, finance and accounting, healthcare, human resources, administrative, and digital marketing. Addison Group was formed in 1999 and is based in Chicago, Illinois.

Sell -
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