Secondary Buyout • Software

Vista Equity Partners and Warburg Pincus Acquire Redwood

On September 10, 2024, private equity firms Vista Equity Partners and Warburg Pincus acquired software company Redwood from Turn/River

Acquisition Context
  • This is Vista Equity Partners’ 59th and Warburg Pincus’ 33rd transaction in the Software sector.
  • This is Vista Equity Partners’ 136th and Warburg Pincus’ 237th transaction in the United States.
  • This is Vista Equity Partners’ 24th and Warburg Pincus’ 40th transaction in Texas.

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M&A Deal Summary

Date September 10, 2024
Target Redwood
Sector Software
Buyer(s) Vista Equity Partners
Warburg Pincus
Sellers(s) Turn/River
Deal Type Secondary Buyout
Advisor(s) Goldman Sachs (Financial)

Target Company

Redwood

Frisco, Texas, United States
Redwood is a full-stack automation fabric solution provider for mission-critical business processes. Redwood was formed in 1993 and is based in Frisco, Texas.
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Buyers Overview 2

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 Context for Buyer #
Overall 147 of 155
Sector: Software 59 of 62
Type: Secondary Buyout 36 of 39
State: Texas 24 of 24
Country: United States 136 of 143
Year: 2024 5 of 7
PREVIOUS 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 -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-23 Gnosis Freight

Charleston, South Carolina, United States

Gnosis Freight provides supply chain visibility and execution software, made available through its proprietary Container Lifecycle Management (CLM) platform focused on the full lifecycle of your shipping containers. The company's global footprint encompasses a diverse customer base, including top cargo owners (BCOs), ocean carriers, forwarders, truckers, 3PLs, technology providers, and other critical supply chain partners utilizing CLM platform to achieve new levels of efficiency, cost savings, and collaboration within their supply chain. Gnosis Freight is based in Charleston, South Carolina.

Buy -
Buyer

Warburg Pincus

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1966
PE ASSETS 83.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Warburg Pincus is a mega-sized, global private equity firm focused on investment opportunities across North America, Asia, and Europe. Warburg will consider investing at various company stages, from early-stage opportunities to distressed situations. Warburg Pincus is organized by industry groups. Verticals include financial services, healthcare, technology, media & telecommunications, energy, consumer & industrial, and real estate. Within financial services, Warburg will consider asset/wealth managers, banks, exchanges, financial technology, insurance, transaction processing, private banking, and specialty/consumer finance. Within healthcare, specific areas of interest include medical devices, healthcare services, and biotech/pharmaceuticals. Within technology/media/communications, Warburg targets software, media/internet/information, financial technology, telecom, business services, and systems/semiconductors. Within energy, specific areas of interest include oil/gas exploration, power generation/transmission, and alternative energy. Warburg Pincus raised its first fund in 1966 and is based in New York City.


Deal Context for Buyer #
Overall 482 of 493
Sector: Software 33 of 34
Type: Secondary Buyout 65 of 70
State: Texas 40 of 40
Country: United States 237 of 242
Year: 2024 8 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-16 Ebco

Mumbai, India

Ebco manufactures furniture fittings and sells furniture fittings and architectural hardware under brands such as Ebco, Livsmart, and Worksmart through an extensive network of distributors that supply over 5,500 hardware retail outlets. Ebco was founded in 1963 and is based in Mumbai, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-11 Contabilizei

Curitiba, Brazil

Contabilizei offers cutting-edge technology and the expertise of more than 1,200 specialists across various fields to provide reliable accounting services, free company formation, business checking accounts, and health and wellness benefits for entrepreneurs. Contabilizei was founded in 2013 and is based in Curitiba, Brazil.

Buy -

Seller Profile 1

SELLER
DESCRIPTION

Turn/River is a private investment firm that specializes in growth capital investments, buyouts, spin-outs, and recapitalizations of small-scale technology, web and Saas companies. The Firm has a particular interest in bootstrapped companies. Turn/River Capital is based in San Francisco, California.


Deal Context for Seller #
Overall 8 of 9
Sector: Software 4 of 5
Type: Secondary Buyout 2 of 3
State: Texas 2 of 2
Country: United States 7 of 8
Year: 2024 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-23 Paessler

Nuremberg, Germany

Paessler offers monitoring solutions for businesses across all industries and all sizes, from SMB to large enterprises. Paessler was founded in 1997 and is based in Nuremberg, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-02-07 SolarWinds

Austin, Texas, United States

SolarWinds provides hybrid IT infrastructure management software to customers worldwide from Fortune 500 enterprises to small businesses, government agencies and educational institutions. SolarWinds was founded in 1999 and is based in Austin, Texas.

Buy $4.4B