M&A Deal Summary

Vista Equity Partners, Harvest Partners Private Equity, Alberta Investment Management and K1 Investment Management Acquire Granicus

On August 18, 2016, private equity firm Vista Equity Partners, private equity firm Harvest Partners Private Equity, pension Alberta Investment Management and growth capital firm K1 Investment Management acquired internet software and services company Granicus from JMI Equity

Acquisition Highlights
  • This is Vista Equity Partners’ 19th, Harvest Partners Private Equity’s 2nd, Alberta Investment Management’s 1st and K1 Investment Management’s 3rd transaction in the Internet Software and Services sector.
  • This is Vista Equity Partners’ 62nd, Harvest Partners Private Equity’s 31st, Alberta Investment Management’s 3rd and K1 Investment Management’s 7th transaction in the United States.
  • This is Vista Equity Partners’ 5th, Harvest Partners Private Equity’s 1st, Alberta Investment Management’s 1st and K1 Investment Management’s 3rd transaction in Colorado.

M&A Deal Summary

Date 2016-08-18
Target Granicus
Sector Internet Software and Services
Buyer(s) Vista Equity Partners
Harvest Partners Private Equity
Alberta Investment Management
K1 Investment Management
Sellers(s) JMI Equity
Deal Type Secondary Buyout
Advisor(s) Shea & Company LLC
William Blair (Financial)
Kirkland & Ellis (Legal)

Target

Granicus

Denver, Colorado, United States
Granicus is a provider of cloud-based government transparency, legislative management and digital marketing solutions for government agencies across North America and the United Kingdom. The Company’s software solutions empower government organizations to create better lives for their constituents by enabling better decision making, communications and engagement while driving significant organizational efficiency via the automation of daily legislative workflows. Granicus was founded in 1999 and is based in Denver, Colorado.

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Buyer(S) 4

Buyer

Vista Equity Partners

Austin, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 100.0B USD
Size Mega
Type Sector Focused
DESCRIPTION
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.

Vista Equity Partners is a mega-sized asset management firm focused on private equity, public equity, credit, and other strategies. The Firm's private equity group looks to invest in and acquire software and technology enabled services companies. Specific areas of interest include software, software-as-a-service (SaaS), technology-enabled business services, and technology-enabled information services. Vista can commit up to $700 million per transaction and will consider a variety transaction situations, including management/leveraged buyouts, growth or acquisition financings, recapitalizations or restructurings, spinouts, and take privates. Vista Equity Partners was formed in 2000 and is based in Austin, Texas.


DEAL STATS #
Overall 69 of 149
Sector (Internet Software and Services) 19 of 50
Type (Secondary Buyout) 15 of 35
State (Colorado) 5 of 7
Country (United States) 62 of 137
Year (2016) 10 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-26 Vena

Toronto, Ontario, Canada

Vena is a provider of a multi-tenant, SaaS CPM platform that offers performance management and business intelligence solutions across a number of industries, including financial services, healthcare, consumer goods, energy and resources, professional services, and more. Vena was founded in 2011 and is based in Toronto, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-06 Regulatory DataCorp.

King of Prussia, Pennsylvania, United States

Regulatory DataCorp is a diligence technology company involved in providing Anti-Money Laundering, Know Your Customer, Anti-Bribery & Corruption solutions. RDC integrates the industry’s largest financial crime diligence database into an agile SaaS technology platform that minimizes the number of false positives, provides accurate alerts, and protects its clients from regulatory risks.

Buy -
Buyer

Harvest Partners Private Equity

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Harvest Partners is a private equity firm that targets buyout and growth capital investments in middle-market public and private companies. Harvest Partners looks to invest in profitable ($30 to $300 million of EBITDA) consumer products/retail, manufacturing, marketing, building products, industrial, specialty services, and value-added distribution companies valued between $100 and $600 million. The Firm prefers opportunities headquartered in North America. Harvest Partners was formed in 1981 and is based in New York City.


DEAL STATS #
Overall 34 of 49
Sector (Internet Software and Services) 2 of 2
Type (Secondary Buyout) 17 of 27
State (Colorado) 1 of 1
Country (United States) 31 of 46
Year (2016) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-27 Epiq

New York, New York, United States

Epiq is a provider of integrated technology and services for the legal profession, including eDiscovery, managed services, bankruptcy, class action and mass tort administration, federal regulatory actions and data breach responses. Epic's solutions are designed to streamline the administration of litigation, investigations, financial transactions, regulatory compliance and other legal matters. Epiq was founded in 1988 and is based in New York.

Buy $1.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-13 OnPoint Group

Perrysburg, Ohio, United States

OnPoint Group is a North American provider of management and maintenance services for doors, docks, material handling and warehouse accessories through its industry leading divisions: TFS, Miner, TrueSource, and Concentric. Based in Perrysburg, OH, OnPoint Group has more than 600 technicians in over 80 locations to consistently deliver efficiency, safety and productivity to customers responsible for maintaining multifacility operations.

Buy -
Buyer

Alberta Investment Management

Investor Investor Investor Investor Investor


Category Pension
Founded 2008
PE ASSETS 4.5B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

Alberta Investment Management Corporation (AIMCo) is a Canadian diversified institutional investment manager serving pension, endowment and government funds in the province of Alberta. In addition to investing in public equities, fixed income, and debt, AIMCo looks to invest in private equity, real estate, timberlands, and infrastructure. AIMCo's private equity group invests in funds and directly in companies throughout North America and Western Europe. Areas of interest include consumer, industrials, business services, financial services, technology, and healthcare. AIMCo is based in Edmonton, with additional offices in Toronto and London.


DEAL STATS #
Overall 5 of 30
Sector (Internet Software and Services) 1 of 4
Type (Secondary Buyout) 2 of 12
State (Colorado) 1 of 1
Country (United States) 3 of 15
Year (2016) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-15 Environmental Resources Management

London, United Kingdom

Environmental Resources Management is a global provider of environmental, health, safety, risk, and social consulting services. Environmental Resources Management was founded in 1871 and is based in London, United Kingdom.

Buy $1.7B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-25 BestSecret

Munich, Germany

BestSecret sells more than 3,000 designer brands at attractive prices through its website BestSecret.com as well as three stores in Munich and Vienna. Its exclusive membership is based on invitation only which creates both high-desirability and strong customer engagement, driving double-digit annual growth over the past years. BestSecret was founded in 1924 and is based in Munich, Germany.

Buy -
DESCRIPTION

K1 Investment Management, LLC is a West Coast US-based private equity firm investing in high-growth private companies across North America. The Firm has a special interest in enterprise software companies and looks to provide meaningful strategic and operational guidance when working with portfolio companies. K1 Investment Management was established in 2011 and is headquartered in El Segundo, California.


DEAL STATS #
Overall 7 of 50
Sector (Internet Software and Services) 3 of 17
Type (Secondary Buyout) 1 of 4
State (Colorado) 3 of 4
Country (United States) 7 of 35
Year (2016) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-01 Litera Microsystems

Chicago, Illinois, United States

Litera Microsystems is a provider of a document technology solutions to the legal and life sciences communities. The Company focus is on helping organizations spend more time creating the highest quality documents and less time fixing them. Litera Microsystems was founded in 2001 and is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-15 XTRF

Krakow, Poland

XTRF enables customers to integrate their entire localization process in one globally accessible platform. The cloud-based system streamlines the management of complex translation and localization workflows by linking client requirements, internal processes, and vendor management in a seamless online environment. XTRF was formed in 2010 and is based in Krakow, Poland.

Sell -

Seller(S) 1

SELLER

JMI Equity

La Jolla, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 7.5B USD
Size Mega
Type Sector Focused
DESCRIPTION

JMI Equity is a private equity firm focused on investments in software, internet, business service, and healthcare IT. Targeted businesses typically help automate and optimize business and information technology processes. The Firm will consider investments at all stages of development, including early-stage companies, self-funded businesses requiring growth capital, and later stage businesses in need of buyout or recapitalization funding. JMI looks to commit at least $10 million per transaction. JMI Equity was formed in 1992 and maintains offices in San Diego and Baltimore.


DEAL STATS #
Overall 78 of 106
Sector (Internet Software and Services) 11 of 22
Type (Secondary Buyout) 11 of 18
State (Colorado) 4 of 4
Country (United States) 72 of 94
Year (2016) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-26 Vena

Toronto, Ontario, Canada

Vena is a provider of a multi-tenant, SaaS CPM platform that offers performance management and business intelligence solutions across a number of industries, including financial services, healthcare, consumer goods, energy and resources, professional services, and more. Vena was founded in 2011 and is based in Toronto, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-29 Higher Logic

Arlington, Virginia, United States

Higher Logic is a cloud-based community platforms, with over 25 million engaged members in more than 200,000 communities. Organizations worldwide use Higher Logic to bring like-minded people all together by giving their community a home where they can meet, share ideas, answer questions and stay connected. Higher Logic was founded in 2007 and is based in Arlington, Virginia.

Buy -