M&A Deal Summary

Weave Growth Partners and LKCM Headwater Investments Acquire Knack Global

On January 18, 2022, growth capital firm Weave Growth Partners and private equity firm LKCM Headwater Investments acquired business services company Knack Global

Acquisition Highlights
  • This is Weave Growth Partners’ 1st and LKCM Headwater Investments’ 2nd transaction in the Business Services sector.
  • This is Weave Growth Partners’ 2nd and LKCM Headwater Investments’ 6th transaction in the United States.
  • This is Weave Growth Partners’ 1st and LKCM Headwater Investments’ 1st transaction in New Jersey.

M&A Deal Summary

Date 2022-01-18
Target Knack Global
Sector Business Services
Buyer(s) Weave Growth Partners
LKCM Headwater Investments
Deal Type Recapitalization
Advisor(s) CEO ally, Inc. (Financial)

Target

Knack Global

Woodbridge, New Jersey, United States
Knack Global is a provider of a portfolio of high-quality RCM services that allows healthcare businesses to focus on their core competencies of providing patient care. Knack’s portfolio of services spans the entire RCM value chain from Pre-Claim activities to Accounts Resolutions. Knack Global is based in Woodbridge, New Jersey.

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Buyer(S) 2

DESCRIPTION

Weave Growth Partners is a growth capital firm focused on businesses with underutilized data and potential for operational improvement. The Firm prefers control positions in profitable companies with at least $15 million of revenue. Sectors of interest include business services, financial services, healthcare services, and technology. In addition to control investments, Weave Growth will consider minority investments if the company has a history of growth and increasing profitability. Weave Growth Partners was formed in 2019 and is headquartered in Redwood City, California.


DEAL STATS #
Overall 2 of 3
Sector (Business Services) 1 of 1
Type (Recapitalization) 2 of 2
State (New Jersey) 1 of 1
Country (United States) 2 of 3
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-25 Congruity HR

Winston-Salem, North Carolina, United States

Congruity HR PEO delivers comprehensive HR solutions to small and mid-sized businesses nationwide, sharpening their competitive advantage. Comprised of respected industry executives and certified HR professionals, Congruity HR provides hands-on, expert human resource services to reduce administrative burdens, ensure compliance with employer regulations, and effectively manage employment cost. The company’s extensive HR service offering includes a full range of health and workers’ compensation insurance products, tax administration, risk management services, and advanced technology. Congruity HR was founded in 2011 and is based in Winston-Salem, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-24 Strolleria

Scottsdale, Arizona, United States

Strolleria is a multi-channel retailer of high-end baby gear. Strolleria sells high-end baby gear products such as strollers, car seats, high chairs, playards, and related accessories. Strolleria was founded in 2016 and is based in Scottsdale, Arizona.

Buy -
DESCRIPTION

LKCM Headwater Investments is a private equity firm that seeks to partner with management teams to build successful companies. The Firm takes an operationally-minded approach and provides companies with the tools necessary to build market leaders with sustainable competitive advantages. LKCM generally pursues platform companies with $50 to $500 million and seeks to commit $5 to $80 million per transaction. Sectors of interest include industrial distribution/services, manufacturing, energy, financial services, and healthcare. LKCM Headwater is based in Fort Worth, Texas.


DEAL STATS #
Overall 6 of 6
Sector (Business Services) 2 of 2
Type (Recapitalization) 1 of 1
State (New Jersey) 1 of 1
Country (United States) 6 of 6
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-29 Gexpro

Coppell, Texas, United States

Gexpro is a distributor of electrical parts and components for construction, industrial, and energy solutions markets. Gexpro Services supply a wide range of electrical supplies and productivity solutions for electricians, contractors, and industrial plants. Gexpro carries everything from lighting components, motors, circuit breakers, and tools to electrical wiring, conduit, automation solutions, and solar panels. Gexpro is based in Coppell, Texas.

Sell -