M&A Deal Summary

Veracross Acquires Firefly

On February 7, 2023, Veracross acquired internet software and services company Firefly from Beringea and BGF

Acquisition Highlights
  • This is Veracross’ 1st transaction in the Internet Software and Services sector.
  • This is Veracross’ 1st transaction in the United Kingdom.

M&A Deal Summary

Date 2023-02-07
Target Firefly
Sector Internet Software and Services
Buyer(s) Veracross
Sellers(s) Beringea
BGF
Deal Type Add-on Acquisition

Target

Firefly

London, United Kingdom
Firefly is a platform for parent engagement and learning continuity. Firefly has the potential to cut school administration by 50 percent and connect teachers, students, and parents to share lesson plans and assign and review homework directly, both in and out of the classroom. Firefly was founded in 2009 and is based in London, United Kingdom.

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Buyer(S) 1

Buyer

Veracross

Wakefield, Massachusetts, United States

Category Company
Founded 2004
Sector Software
DESCRIPTION

Veracross is a provider of software tools and professional services to focus on providing a world-class education. Veracross software modules give the flexibility to select exactly the functionality that the school requires. Veracross Core Administration module is the foundation of every Veracross solution. Veracross was founded in 2004 and is based in Wakefield, Massachusetts.


DEAL STATS #
Overall 1 of 1
Sector: Internet Software and Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
Country: United Kingdom M&A 1 of 1
Year: 2023 M&A 1 of 1

Seller(S) 2

SELLER

Beringea

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 715M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Beringea LLP is a private equity firm focused on growth-oriented company investments in the Midwest US and the UK. Beringea looks to invest $2 to $10 million of equity or junior capital in profitable companies with 5 million and higher in revenue. Funds are used to support business expansions and growth, ownership transitions, leveraged buyouts, recapitalization, and refinancings. The Firm does not have any sector preferences and generally seeks businesses with proven business models and defensible market positions. Beringea was formed in 1988 and is based in London.


DEAL STATS #
Overall 41 of 46
Sector: Internet Software and Services M&A 9 of 10
Type: Add-on Acquisition M&A Deals 26 of 30
Country: United Kingdom M&A 25 of 27
Year: 2023 M&A 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-07 Cipher

London, United Kingdom

Cipher is a provider of patent analytics software designed to enable businesses to access data about patented technology with greater speed and accuracy. Cipher harnesses artificial intelligence and machine learning algorithms to classify, identify, and analyze patents in ways that have traditionally involved intellectual property specialists in an expensive and time-consuming process. Cipher was founded in 2013 and is based in London, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-17 Fiber By-Products

White Pigeon, Michigan, United States

Fiber By-Products is a processor, recycler, and manufacturer of wood pellets for home heating. Fiber By-Products collects wood by-products from sawmills & wood shops and further process the fiber into wood pellets, wood flour, wood shavings, and landscaping mulch. Fiber By-Products was founded in White Pigeon, Michigan.

Sell -
SELLER

BGF

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2011
PE ASSETS 2.5B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

Business Growth Fund (BGF) is a private investment firm focused on early and growth-stage investing across the UK. The Firm also invests in publicly traded companies. BGF's growth team looks to invest £1 to £15 million in small to mid-sized companies looking for additional capital to pursue growth. BGF was established in 2011 and is headquartered in London.


DEAL STATS #
Overall 99 of 131
Sector: Internet Software and Services M&A 11 of 11
Type: Add-on Acquisition M&A Deals 54 of 70
Country: United Kingdom M&A 94 of 125
Year: 2023 M&A 2 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-06 Trunki

Bristol, United Kingdom

Trunki is a children's luggage brand. Trunki also make a range of children's accessories including, car seat boosters, child reins and neckpillows. Trunki was founded in 2006 and is based in Bristol, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-03 Wilderness Way

Penrith, United Kingdom

Wilderness Way is a provider of high-acuity, life-changing residential care for children at significant risk from exploitation, violence, crime, and abuse. AWW’s approach promotes the focus on developing young people’s self-esteem and confidence through outdoor adventure activities and re-engagement in meaningful learning through AWW’s individualized education program. Wilderness Way was founded in 2006 and is based in Penrith, United Kingdom.

Sell -