M&A Deal Summary |
|
|---|---|
| Date | 2025-07-23 |
| Target | Iodine Software |
| Sector | Software |
| Buyer(s) | Waystar |
| Sellers(s) |
Advent International
Silversmith Capital Partners |
| Deal Type | Add-on Acquisition |
| Deal Value | 1.3B USD |
| Advisor(s) | J.P. Morgan Securities (Financial) Weil Gotshal & Manges Queen Saenz + Schutz (Legal) |
SEARCH BY
| Category | Company |
|---|---|
| Sector | Information Technology |
| Employees | 1,500 |
| Revenue | 944M USD (2024) |
Waystar provides cloud-based technology that simplifies and unifies the healthcare revenue cycle. The Waystar platform removes friction in payment processes, streamlines workflows, and improves financials for providers in every care setting. Waystar is based in Louisville, Kentucky.
| DEAL STATS | # |
|---|---|
| Overall | 10 of 10 |
| Sector: Software M&A | 1 of 1 |
| Type: Add-on Acquisition M&A Deals | 7 of 7 |
| State: Texas M&A | 1 of 1 |
| Country: United States M&A | 10 of 10 |
| Year: 2025 M&A | 1 of 1 |
| Size (of disclosed) | 1 of 1 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2023-08-03 |
HealthPay24
Mechanicsburg, Pennsylvania, United States HealthPay24 is a cloud-based patient payment software which captures and manages the patient financial responsibility as early as pre-service estimation through post-service, provides flexibility and convenience for online and POS collections, and fuels productivity to financial posting and reconciliation processes. HealthPay24 was founded in 2001 and is based in Mechanicsburg, Pennsylvania. |
Buy | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 1984 |
| PE ASSETS | 91.0B USD |
| Size | Mega |
| Type | Sector Agnostic |
Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.
| DEAL STATS | # |
|---|---|
| Overall | 231 of 233 |
| Sector: Software M&A | 10 of 10 |
| Type: Add-on Acquisition M&A Deals | 86 of 87 |
| State: Texas M&A | 9 of 9 |
| Country: United States M&A | 83 of 84 |
| Year: 2025 M&A | 1 of 3 |
| Size (of disclosed) | 12 of 54 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2025-06-30 |
LayerZero
Aurora, Ohio, United States LayerZero is a manufacturer of solid state power conversion and power distribution products to mission-critical industries. LayerZero was founded in 2001 and is based in Aurora, Ohio. |
Buy | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2025-08-13 |
Coherent - Aerospace and Defense business
Saxonburg, Pennsylvania, United States Coherent’s Aerospace and Defense designs and manufactures optical and laser systems for defense applications. Coherent’s Aerospace and Defense is based in Saxonburg, Pennsylvania. |
Buy | $400M |
| Category | Growth Capital Firm |
|---|---|
| Founded | 2015 |
| PE ASSETS | 3.3B USD |
| Size | Large |
| Type | Sector Focused |
Silversmith Capital Partners is a private investment firm focused on growth capital investments in SaaS and healthcare IT/services companies. The Firm looks to invest $20 to $125 million in growing companies (20%+) with at least $10 million in revenue. Silversmith Capital Partners was established in 2015 and is headquartered in Boston, Massachusetts.
| DEAL STATS | # |
|---|---|
| Overall | 8 of 8 |
| Sector: Software M&A | 5 of 5 |
| Type: Add-on Acquisition M&A Deals | 4 of 4 |
| State: Texas M&A | 1 of 1 |
| Country: United States M&A | 7 of 7 |
| Year: 2025 M&A | 1 of 1 |
| Size (of disclosed) | 1 of 1 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2024-09-04 |
Venminder
Elizabethtown, Kentucky, United States Venminder is a provider of vendor risk management solutions. Venminder through the firm’s software and a suite of outsourced services, Venminder has pioneered a new age in vendor management by dramatically reducing the workload essential to meeting today’s demanding regulatory requirements. Venminder is based in Elizabethtown, Kentucky. |
Sell | - |
