Add-on Acquisition • Information Technology

W Energy Software Acquires Seven Lakes Technologies

On May 17, 2022, W Energy Software acquired information technology company Seven Lakes Technologies from Carrick Capital Partners

Acquisition Context
  • This is W Energy Software’s 1st transaction in the Information Technology sector.
  • This is W Energy Software’s 2nd transaction in the United States.
  • This is W Energy Software’s 1st transaction in California.

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M&A Deal Summary

Date May 17, 2022
Target Seven Lakes Technologies
Sector Information Technology
Buyer(s) W Energy Software
Sellers(s) Carrick Capital Partners
Deal Type Add-on Acquisition

Target Company

Seven Lakes Technologies

Westlake Village, California, United States
Seven Lakes Technologies is an analytics & technology solutions firm offering products and services for the Upstream (E&P) Oil and Gas sector; focused on improving business drivers and enhancing the execution of customer business strategies. Seven Lakes offers innovative product suites focused around Drilling & Completions, Production & Operations, Accounting and Data Management & Analytics. Seven Lakes Technologies was founded in 2009 and is based in Westlake Village, California.
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Buyer Overview 1

Buyer

W Energy Software

Tulsa, Oklahoma, United States

Category Company
Founded 2009
Sector Software
DESCRIPTION

W Energy Software is a provider of cloud-based accounting and ERP software, delivering high levels of speed, ease, and accuracy to enterprise and mid-market customers across the energy and commodities value chain. W Energy Software was founded in 2009 and is based in Tulsa, Oklahoma.


Deal Context for Buyer #
Overall 2 of 2
Sector: Information Technology 1 of 1
Type: Add-on Acquisition 2 of 2
State: California 1 of 1
Country: United States 2 of 2
Year: 2022 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-04 Chorus Logistics

Houston, Texas, United States

Chorus Logistics is an operator of transportation management solutions company offering innovative software and mobile solutions that optimize vital transportation, logistics, and operations with unparalleled visibility throughout the entire workflow. Chorus Logistics was founded in 2014 and is based in Houston, Texas.

Buy -

Seller Profile 1

SELLER

Carrick Capital Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2012
Size Small
Type Sector Focused
DESCRIPTION

Carrick Capital Partners is a private equity firm focused on 'tech-enabled' businesses (business process outsourcing, transaction processing, and software) where the firm can leverage its expertise in building value. Carrick typically makes direct investments in privately-held companies with proven potential for fast growth and/or profitability. Prospective companies generally have revenues of $20 to $100 million with gross margins in excess of 40%. Carrick Capital is based in San Francisco.


Deal Context for Seller #
Overall 10 of 12
Sector: Information Technology 5 of 6
Type: Add-on Acquisition 4 of 5
State: California 5 of 5
Country: United States 10 of 12
Year: 2022 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-15 Brightspot

Reston, Virginia, United States

Brightspot is a technology company that helps businesses build and deliver digital experiences designed specifically for their customers. Brightspot was founded in 2008 and is based in Reston, Virginia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-14 Bishop Fox

Tempe, Arizona, United States

Bishop Fox is a professional services firm focused on offensive security, providing solutions ranging from continuous penetration testing, red teaming, and attack surface management to product, cloud, and application security assessments. Bishop Fox is based in Tempe, Arizona.

Buy -