M&A Deal Summary

Turn/River Capital Acquires Huddle

On August 10, 2017, private equity firm Turn/River Capital acquired internet software and services company Huddle from Zouk Capital for 89M USD

Acquisition Highlights
  • This is Turn/River Capital’s 2nd transaction in the Internet Software and Services sector.
  • This is Turn/River Capital’s 2nd largest (disclosed) transaction.
  • This is Turn/River Capital’s 1st transaction in the United Kingdom.
Investment Fate
  • Huddle was sold to a strategic buyer in 2020.

M&A Deal Summary

Date 2017-08-10
Target Huddle
Sector Internet Software and Services
Buyer(s) Turn/River Capital
Sellers(s) Zouk Capital
Deal Type Secondary Buyout
Deal Value 89M USD

Target

Huddle

London, United Kingdom
website
Huddle is a provider of SaaS-based secure content collaboration and workflow solutions primarily in the UK and USA. Huddle provides cloud-based secure document collaboration and compliance software, which is complementary to Ideagen’s industry-leading PleaseReview package. Huddle was founded in 2006 and is based in London, United Kingdom.

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Buyer(S) 1

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 STATS #
Overall 9 of 12
Sector (Internet Software and Services) 2 of 2
Type (Secondary Buyout) 1 of 1
Country (United Kingdom) 1 of 1
Year (2017) 2 of 2
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-22 Pathwire

San Antonio, Texas, United States

Pathwire empowers companies around the world to solve complex communication problems. Through its powerful email API and intuitive email marketing solutions, Pathwire delivers over 250 billion emails a year for companies like DHL, Wikipedia, Toast, Lyft, and Microsoft. The company provides reliable, cloud-native infrastructure, local expertise, and smart solutions based on machine learning so companies can more easily reach their customers and build connected experiences. Pathwire is based in San Antonio, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-08 Netsparker

Austin, Texas, United States

Netsparker provides an easy-to-use security scanner for enterprises to automatically find security flaws across thousands of websites, web applications, and web services. Its unique proof-based scanning technology yields industry-leading detection rates with false positive-free results every time.

Buy -

Seller(S) 1

SELLER

Zouk Capital

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1999
PE ASSETS 600M EUR
Size Middle-Market
Type Sector Focused
DESCRIPTION

Zouk Capital is a private equity and infrastructure fund manager investing in the sustainable economy. Zouk's strategy is to capitalize on the investment opportunities created by the global shift to greater resource efficiency. Zouk's Technology Growth team seeks to help commercially proven technology companies to accelerate growth, increase market share and create value. The Firm's Infrastructure investment group looks to finance the construction of new high-yielding assets, by acquiring, developing and funding late-stage renewable energy infrastructure projects. Zouk was established in 1999 and is headquartered in London.


DEAL STATS #
Overall 3 of 7
Sector (Internet Software and Services) 1 of 2
Type (Secondary Buyout) 3 of 4
Country (United Kingdom) 2 of 3
Year (2017) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-14 Green Hedge International

London, United Kingdom

Green Hedge International Ltd. is a developer and operator of a large scale grid-connected and behind-the-meter battery energy storage projects across Britain.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-07 Space Time Insight

San Mateo, Massachusetts, United States

Space Time Insight, Inc. is a provider of machine learning powered analytics and IoT applications for transportation, energy and utilities organizations. Space Time Insight, Inc. was established in 2003 and is based in San Mateo, California.

Sell -