Add-on Acquisition • Information Technology

Urban FT Group Acquires CFC Technology Group

On July 18, 2019, Urban FT Group acquired information technology company CFC Technology Group from Lakeview Equity Partners

Acquisition Context
  • This is Urban FT Group’s 1st transaction in the Information Technology sector.
  • This is Urban FT Group’s 3rd transaction in the United States.
  • This is Urban FT Group’s 1st transaction in Minnesota.

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M&A Deal Summary

Date July 18, 2019
Target CFC Technology Group
Sector Information Technology
Buyer(s) Urban FT Group
Sellers(s) Lakeview Equity Partners
Deal Type Add-on Acquisition

Target Company

CFC Technology Group

Brooklyn Park, Minnesota, United States
CFC Technology Group LLC is a provider in merchant Remote Deposit Capture (RDC) solutions and managed services for community banks and credit unions. CFC Technology Group LLC was founded in 1998 and is based in Brooklyn Park, Minnesota.
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Buyer Overview 1

Buyer

Urban FT Group

New York, New York, United States

Category Company
Sector Software
DESCRIPTION

Urban FT Group, Inc. is a provider of white-label digital banking applications for bank and non-bank issuers.


Deal Context for Buyer #
Overall 3 of 3
Sector: Information Technology 1 of 1
Type: Add-on Acquisition 3 of 3
State: Minnesota 1 of 1
Country: United States 3 of 3
Year: 2019 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-18 iParse

Beaverton, Oregon, United States

iParse LLC is a tech firm and holder of a number of mobile banking related patents. iParse LLC was established in 2012 and is headquartered in Beaverton, Oregon.

Buy -

Seller Profile 1

SELLER

Lakeview Equity Partners

Milwaukee, Wisconsin, United States

Category Private Equity Firm
Founded 2006
PE ASSETS 40M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Lakeview Equity Partners was a small private equity fund that focused on investments in Midwest-based lower middle-market companies. The Firm targeted businesses valued from $5 to $50 million and that operated primarily in traditional industries. Lakeview Equity has invested to support ownership changes, growth capital financings, and management buyouts. Sectors of interest included niche manufacturing, business services, food processing and packaging, specialty distribution, and financial services. Lakeview Equity was based in Milwaukee, Wisconsin.


Deal Context for Seller #
Overall 6 of 8
Sector: Information Technology 1 of 1
Type: Add-on Acquisition 5 of 6
State: Minnesota 1 of 1
Country: United States 6 of 8
Year: 2019 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-05 NutriScience USA

Milford, Connecticut, United States

NutriScience USA develops and markets branded, highly differentiated nutritional ingredients that are sold to a variety of customers including blue-chip supplement and wellness brands. NutriScience USA was founded in 1993 and is based in Milford, Connecticut.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-09 UAS Laboratories

Wausau, Wisconsin, United States

UAS Laboratories is a research, development company that manufactures probiotic nutritional supplements. UAS Laboratories was founded in 1979 and is based in Wausau, Wisconsin.

Sell $530M