M&A Deal Summary

Veritas Capital Acquires OnSolve

On June 15, 2015, private equity firm Veritas Capital acquired internet software and services company OnSolve from Riverside and Maranon Capital

Acquisition Highlights
  • This is Veritas Capital’s 1st transaction in the Internet Software and Services sector.
  • This is Veritas Capital’s 16th transaction in the United States.
  • This is Veritas Capital’s 2nd transaction in Georgia.
Investment Fate
  • OnSolve was sold to a strategic buyer in 2024.

M&A Deal Summary

Date 2015-06-15
Target OnSolve
Sector Internet Software and Services
Buyer(s) Veritas Capital
Sellers(s) Riverside
Maranon Capital
Deal Type Secondary Buyout

Target

OnSolve

Alpharetta, Georgia, United States
OnSolve delivers critical event management capabilities backed by unmatched industry expertise, which keeps our customers safe, informed, assured, and productive during a crisis. As a critical event management provider for enterprises, SMB organizations, and government entities, OnSolve provides a SaaS-based global platform that delivers risk intelligence, critical communications, incident management, and centralized control to help organizations mitigate risk and strengthen organizational resilience. OnSolve is based in Alpharetta, Georgia.

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Buyer(S) 1

Buyer

Veritas Capital

New York, New York, United States

Category Private Equity Firm
Founded 1992
PE ASSETS 50.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Veritas Capital is a private equity investment firm that targets investments in defense, aerospace, government services, media/telecommunications, consumer products, and specialty manufacturing companies. Veritas generally partners with management when pursuing investments. Prospective transaction situations include buyouts, growth capital investments, and leveraged recapitalizations. Veritas Capital was established in 1992 and is based in New York, New York.


DEAL STATS #
Overall 16 of 42
Sector: Internet Software and Services M&A 1 of 4
Type: Secondary Buyout M&A Deals 3 of 9
State: Georgia M&A 2 of 3
Country: United States M&A 16 of 41
Year: 2015 M&A 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-05 CRGT

Reston, Virginia, United States

CRGT, Inc. is a full life-cycle IT services provider for the Federal Government, offering customers agile software development, data analytics, and cyber security & infrastructure support.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-08 StandardAero

Scottsdale, Arizona, United States

StandardAero is an independent maintenance, repair, and overhaul (MRO) provider. The Company offers extensive MRO services and custom solutions for business aviation, commercial aviation, military, and industrial power customers. StandardAero was founded in 1911 and is based in Scottsdale, Arizona.

Buy $2.1B

Seller(S) 2

SELLER

Riverside

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Riverside Company is a global private equity firm that seeks investments in profitable lower middle-market companies valued under $400 million. Riverside looks to invest in growth businesses headquartered in North America, Europe, and Asia (primarily Japan and South Korea), that have been in operation for at least five years. Riverside targets investments in a wide array of industries including distribution, automotive, healthcare, education, manufacturing, software, consumer services, plastics, publishing, food, communications, marine, and business services. Riverside was formed in 1988 and is based in New York City.


DEAL STATS #
Overall 100 of 209
Sector: Internet Software and Services M&A 2 of 12
Type: Secondary Buyout M&A Deals 40 of 84
State: Georgia M&A 1 of 4
Country: United States M&A 75 of 147
Year: 2015 M&A 3 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-10 AWP Safety

North Canton, Ohio, United States

AWP Safety is a provider of professional traffic control design and execution services in support of utility infrastructure maintenance and construction activity. AWP Safety was founded in 1981 and is based in North Canton, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-31 Work Health Group

Melbourne, Australia

Work Health Group is a provider of occupational rehabilitation case management services in Australia, the group brings together 750 health, employment and support professionals across 81 locations around Australia. Brands including WorkFocus Australia, IPAR, Kairros, atWork Australia and Cogent Thinking are managed under the Work Health Group banner. The Group is committed to helping getting injured workers back to work along with optimising work and life participation for people with injury, illness, disability and disadvantage.

Buy -
SELLER

Maranon Capital

Chicago, Illinois, United States

Category Mezzanine Finance Firm
Founded 2007
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Maranon Capital is an investment firm that provides senior financing, mezzanine debt and equity co-investments for private equity backed and non-sponsored middle-market companies. Maranon seeks investments in financially healthy businesses with stable cash flows, diverse customers, and strong management. Areas of interest include business services, healthcare services, distribution, manufacturing and consumer products/services. Funds typically support acquisitions, recapitalizations, refinancings, consolidations, ESOPs and growth capital needs. Maranon Capital was formed in 2007 and is based in Chicago, Illinois. In 2019, Maranon Capital was acquired by asset management firm Eldrige.


DEAL STATS #
Overall 4 of 22
Sector: Internet Software and Services M&A 1 of 2
Type: Secondary Buyout M&A Deals 4 of 15
State: Georgia M&A 1 of 1
Country: United States M&A 4 of 22
Year: 2015 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-19 HSI

Frisco, Texas, United States

HSI provides a comprehensive set of health and safety solutions to help its customers meet their training and compliance requirements. HSI offers more than 780 training courses for emergency care, workplace safety, health & safety services, and professional responders. HSI also provides hands-on training via 51,300 authorized affiliate instructors and 13,200 third-party training centers in the U.S. and Canada. HSI also offers a proprietary management system platform that tracks customers’ health & safety programs and employee compliance. HSI was founded in 1978 and is based in Frisco, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-31 Kettle Cuisine

Chelsea, Massachusetts, United States

Kettle Cuisine is an independent, artisan soup maker providing uncompromised soup with a commitment to impeccable ingredients, careful preparation and traditional cooking techniques. The company offers a selection of over 50 varieties of soups, chilis and chowders, and services over 5,000 restaurants, cafes, delicatessens and supermarkets in the United States. Kettle Cuisine was founded in 1986 and is based in Chelsea, Massachusetts.

Sell -