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  6. Vista Equity Partners, TCV and KKR Acquire Nasuni

M&A Deal Summary

Vista Equity Partners, TCV and KKR Acquire Nasuni

On July 9, 2024, private equity firms Vista Equity Partners, TCV and KKR acquired information technology company Nasuni from Sixth Street Partners

Acquisition Highlights
  • This is Vista Equity Partners’ 20th, TCV’s 9th and KKR’s 25th transaction in the Information Technology sector.
  • This is Vista Equity Partners’ 134th, TCV’s 70th and KKR’s 205th transaction in the United States.
  • This is Vista Equity Partners’ 17th, TCV’s 7th and KKR’s 9th transaction in Massachusetts.

M&A Deal Summary
Date 2024-07-09
Target Nasuni
Sector Information Technology
Buyer(s) Vista Equity Partners
TCV
KKR
Sellers(s) Sixth Street Partners
Deal Type Secondary Buyout
Advisor(s) BofA Securities (Financial)
Goodwin Procter (Legal)

Target

Nasuni

Boston, Massachusetts, United States
Nasuni is a file data services company that helps organizations create a secure, file data cloud for digital transformation, global growth, and information insight. Nasuni was founded in 2009 and is based in Boston, Massachusetts.

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Buyer(S) 3

Buyer

Vista Equity Partners

Austin, Texas, United States

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 145 of 149
Sector (Information Technology) 20 of 21
Type (Secondary Buyout) 34 of 36
State (Massachusetts) 17 of 17
Country (United States) 134 of 138
Year (2024) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-30 Portside

Cary, North Carolina, United States

Portside is a provider of modern software solutions for the business aviation industry. Portside’s cloud-based operating system for business and government aviation is designed to support all aspects of flight operations, including scheduling and recordkeeping (Avianis, BART and PFM product lines), fleet and crew optimization (Portside Optimizer), safety and compliance (Baldwin), data sharing, reporting and analytics (Portside Owner Portal / Budget & Planning Dashboard), customer billing (ExpensePulse), crew recruiting (Staffing Marketplace), and crew and passenger travel accommodations (Portside Services). Portside is based in Cary, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-13 Jaggaer

Durham, North Carolina, United States

Jaggaer is a provider of procurement software for large and medium-sized enterprises. Jaggaer provides cloud-based Source-to-Pay eProcurement solutions for spend management, which enables a fluid supply chain for its customers, driven by powerful spend analytics, vendor sourcing, contract lifecycle management, savings tracking, and efficient accounts payable systems on a single platform. Jaggaer was founded in 1995 and is based in Durham, North Carolina.

Buy -
Buyer

TCV

Category Private Equity Firm
Founded 1995
PE ASSETS 21.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Technology Crossover Ventures (TCV) is a private equity and venture capital firm focused on investments in growth technology companies. TCV looks to provide capital for growth, recapitalizations, acquisitions, and buyouts of technology companies in sectors such as internet, financial technology, infrastructure & communications, and software. TCV targets opportunities in North America and looks to commit between $10 and $500 million of equity capital per transaction. TCV was formed in 1995 and is based in Palo Alto, New York City, and London.

DEAL STATS #
Overall 82 of 83
Sector (Information Technology) 9 of 9
Type (Secondary Buyout) 6 of 7
State (Massachusetts) 7 of 7
Country (United States) 70 of 70
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-02 Avetta

Lehi, Utah, United States

Avetta is a provider of a cloud-based supply chain risk management platform. Avetta connects global organizations across several industries including oil/gas, telecom, construction materials, facilities management, and many others, with qualified and vetted suppliers, contractors, and vendors. Avetta was founded in 2003 and is based in Lehi, Utah.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-10 RELEX Solutions

Helsinki, Finland

RELEX Solutions is a provider of integrated retail and supply chain planning system that delivers impressive results for customers around the world. Through precise demand forecasting, automated replenishment, revolutionary space planning and assortment optimization, RELEX helps businesses plan better, sell more and waste less however fast the market changes. RELEX Solutions was founded in 2005 and is based in Helsinki, Finland.

Sell -
Buyer

KKR

New York, New York, United States

Category Private Equity Firm
Founded 1976
PE ASSETS 267.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.

DEAL STATS #
Overall 478 of 487
Sector (Information Technology) 25 of 25
Type (Secondary Buyout) 103 of 108
State (Massachusetts) 9 of 9
Country (United States) 205 of 210
Year (2024) 13 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-21 Superstruct

London, United Kingdom

Superstruct is a global platform of live music festivals and music events in Europe and Australia. Its well-diversified portfolio includes some of Europe’s most popular festivals and live event formats, among them Flow, Arenal Sound, Zwarte Cross, elrow, Victorious, Resurrection Fest and Lost Village, alongside established capabilities in brand partnerships, merchandise, staging and travel solutions. Superstruct was founded in 2017 and is based in London, England.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-23 OneStream

Birmingham, Michigan, United States

OneStream is a provider of cloud or on-premise Corporate Performance Management (CPM) solutions for mid-sized to large enterprises. OneStream was founded in 2012 and is based in Birmingham, Michigan.

Sell -

Seller(S) 1

SELLER

Sixth Street Partners

Category Asset Manager
Founded 2009
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Sixth Street is a global alternative asset manager and lender that offers a wide range of capital solutions to small, medium, and large companies. The Firm maintains a variety of investment vehicles focused on growth companies, infrastructure, insurance, agriculture as well as other strategies. Sixth Street was established in 2009 and is headquartered in San Francisco, California.

DEAL STATS #
Overall 1 of 1
Sector (Information Technology) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Massachusetts) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-07 Far West Services

Costa Mesa, California, United States

Far West Services operates over 100 restaurant locations across California, Nevada, Washington, Colorado, and Utah. Far West Services was founded in 2003 and is based in Costa Mesa, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-29 Enstar Group

Hamilton, Bermuda

Enstar Group is a insurance run-off services company that specializes in acquiring and managing reserves associated with discontinued books of property & casualty insurance and reinsurance business on a global basis. Enstar Group was founded in 2001 and is based in Hamilton, Bermuda.

Buy $5.1B
Mergr

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Legal