New and Noteworthy

Aeris Partners Serves as the Exclusive Financial Advisor to ESO Solutions and Accel-KKR / Client Press Release

Aeris Partners is pleased to announce ESO Solutions, the leading provider of data and SaaS solutions to emergency medical services (EMS), fire departments, hospitals and state EMS/trauma offices, has signed a definitive agreement to receive a significant strategic investment from Vista Equity Partners

AUSTIN, Texas - March 26, 2021 - ESO, the leading data and software company serving emergency medical services (EMS), fire departments, hospitals and state EMS/trauma offices, today announced it has signed a definitive agreement to receive a significant strategic investment from Vista Equity Partners (“Vista”), a leading global investment firm focused exclusively on enterprise software, data and technology-enabled businesses. The partnership with Vista will allow ESO to accelerate investment into its best-in-class customer experience and technical innovation as the company continues along its rapid growth path.

“We’ve had a singular mission since the company was founded,” said Chris Dillie, CEO and co-founder of ESO. “This strategic investment from Vista represents a meaningful milestone to continue on our mission to support the first responders and frontline workers that keep our communities healthy and safe. Data and actionable insights around time-sensitive emergencies enable our customers to make informed decisions that improve lives and outcomes. We’re excited to embark on the next leg of our journey with Vista, a partner that believes in our mission and understands the intricacies of building market-leading enterprise software platforms.”

ESO serves thousands of EMS agencies, fire departments and hospitals across North America, including multiple state agencies. Collectively, ESO’s customers respond to more than 13 million 911 calls annually, capturing prehospital, hospital, and post-hospital data that improves first responder and community well-being. These data include measures related to stroke screening, ketamine administration, personal protective equipment (PPE) usage, exposure to violence or hazardous materials, patient outcomes and more.

“ESO is the clear industry leader when it comes to technology, data and thought leadership for health and public safety organizations,” said Ryan Atlas, Managing Director at Vista Equity Partners. “We invest in category-defining businesses like ESO to help accelerate innovation and maximize growth potential. We’re looking forward to our partnership with Chris and the ESO team as they continue to make a positive difference in our communities.”

“We’re excited to continue our investment in ESO alongside Vista,” said Greg Williams, Managing Director at Accel-KKR. “We have been invested in ESO since 2016 and have witnessed the company’s evolution and rapid growth as the market leader delivering innovative software and data insights for first responders and frontline workers. We look forward to the next stage of our journey.”

The transaction is expected to close in the second quarter of this year. Aeris Partners served as the exclusive financial advisor to ESO and Accel-KKR, and Robert W. Baird & Co served as the exclusive financial advisor to Vista. Goodwin Procter LLP acted as legal counsel to ESO, and Kirkland & Ellis LLP served as legal counsel to Vista.

About ESO

ESO (ESO Solutions, Inc.) is dedicated to improving community health and safety through the power of data. Since its founding in 2004, the company continues to pioneer innovative, user-friendly software to meet the changing needs of today’s EMS agencies, fire departments, hospitals, and state EMS offices. ESO currently serves thousands of customers throughout North America with a broad software portfolio, including the industry-leading ESO Electronic Health Record (EHR), the next generation ePCR; ESO Health Data Exchange (HDE), the first-of-its-kind healthcare interoperability platform; ESO Fire RMS, the modern fire Record Management System; ESO Patient Registry (trauma, burn and stroke registry software); and ESO State Repository. ESO is headquartered in Austin, Texas.

About Vista Equity Partners

Vista is a leading global investment firm with more than $73 billion in assets under management as of September 30, 2020. The firm exclusively invests in enterprise software, data, and technology-enabled organizations across private equity, credit, public equity, and permanent capital strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers, and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community, and a broader path to prosperity.

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Aeris Partners Serves as the Exclusive Advisor to iN2L / Client Press Release

Aeris Partners is pleased to announce iN2L, the leading provider of person-centered digital engagement SaaS solutions for the senior living market, received a majority growth investment from Vista Equity Partners

DENVER, CO and AUSTIN, TX - March 9, 2021 - iN2L (the “Company”), the leading provider of person-centered digital engagement solutions for the senior living market, today announced a strategic investment from Vista Equity Partners (“Vista”), a global technology investor focused on enterprise software, data and technology-enabled businesses. The growth capital will help iN2L further scale and accelerate its mission to meaningfully impact the lives of older adults through industry leading technology-enabled engagement solutions. iN2Ls existing investors, the healthcare growth capital firm Hughes & Company and the strategic healthcare investment firm Chicago Pacific Founders, will continue as minority investors in the company.

Founded in 1999, iN2L pioneered the use of content-driven engagement to support social interaction, cognitive and physical exercise and therapy, education, reminiscing, areas of interest, memory support and more with touch screen systems ideal for both group engagement and individual experiences. The Company now has 10,000 of its systems integrated as a critical part of the experience in assisted and independent living communities, nursing homes, memory care settings, CCRCs, life plan communities, and adult day programs across the United States and Canada, and most recently, for older adults living at home.

“As we continue to see a rise in demand for senior engagement technology, we look forward to benefiting from Vista’s unparalleled enterprise software and operational expertise,” said Lisa Taylor, CEO of iN2L. “The pandemic has demonstrated how critical social connection and engagement are to the senior living experience, and we are confident in Vista’s ability to help scale our business so we can continue to deliver the experiences that are crucial for residents, families, and caregivers.”

“The need for bolstering social connection and purposeful engagement for a growing population with increased life expectancy has always been important, but COVID-19 brought the social isolation challenge in the senior living industry to the forefront, and iN2L is uniquely positioned to address these challenges through its industry leading engagement technology,” said Rene Yang Stewart, Senior Managing Director and Co-Head of the Vista Endeavor Fund. “We are excited to partner with Lisa Taylor and the iN2L team in its next phase of growth and assist in their mission to meaningfully impact the lives of older adults and advance the use of engagement technology to reduce social isolation and support personalized engagement experiences.”

The investment in iN2L is made by Vista’s Endeavor Fund, which is focused on mission-critical, high-growth enterprise software, data, and technology-enabled businesses seeking to expand their impact in the markets they serve. Endeavor partners with companies and their management teams, providing the capital, expertise, and support to build an operational foundation for sustainable growth while accelerating market leadership. Through its partnership with iN2L, Vista will help the Company broaden and strengthen its solutions as well as identify opportunities for continued growth.

Aeris Partners LLC served as the exclusive financial advisor to iN2L. Cooley LLP acted as legal counsel to iN2L, and Kirkland & Ellis LLP served as legal counsel to Vista.

About iN2L

As the market leader in content-driven engagement for seniors, iN2L has been creating possibilities, enjoyment, and connection for older adults since 1999. iN2L’s expansive content library promotes wellness, empowerment, and engagement among older adults and is the foundation for activities that facilitate social interaction, cognitive and physical exercise and therapy, education, reminiscing, areas of interest, and memory support engagement. iN2L is a critical part of the resident experience in more than 3,700 nursing homes, assisted and independent living communities, memory care settings, CCRCs, life plan communities, and adult day programs across the U.S. and Canada.

About Vista Equity Partners

Vista is a leading global investment firm with more than $73 billion in assets under management as of September 30, 2020. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit, and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity.

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Aeris Partners Serves as the Exclusive Advisor to MedBridge and LLR Partners / Client Press Release

Aeris Partners is pleased to announce MedBridge, the leading provider of patient engagement and clinical education SaaS solutions for healthcare professionals, has received a majority investment from Brentwood Associates


SEATTLE, WA - January 13, 2021 - MedBridge, the industry-leading provider of patient engagement and clinical education solutions for healthcare professionals, today announced that Brentwood Associates has recapitalized the company.

MedBridge provides patient and provider engagement solutions to improve outcomes and support value-based care, staff retention, risk mitigation, and the patient experience across healthcare provider and payor organizations.

“We’re excited to partner with Brentwood to help accelerate our growth,” said Justin Kowalchuk, Founder and CEO of MedBridge. “With ongoing collaboration from our existing investor, LLR Partners, and this new partnership with Brentwood, MedBridge will continue to deliver on our mission to bring together innovative technology and powerful education to improve lives and raise the quality of healthcare globally.”

MedBridge is a SaaS platform that combines a robust technology offering with a large and growing library of best-in-class content. The company’s platform is widely used across multiple healthcare specialties, including physical therapy, occupational therapy, speech-language pathology and nursing. MedBridge has made significant investments in people, infrastructure and content over the last several years to help accelerate its growth. Brentwood’s investment will be used to expand in existing markets and extend into new healthcare specialties and care settings.

“MedBridge has done an incredible job of supporting its customers to improve healthcare delivery and patient outcomes in both in-person and virtual settings,” said Craig Milius, Partner at Brentwood. “We look forward to working with LLR Partners as well as Justin and the team at MedBridge as they continue to develop new and innovative solutions to support providers and patients across the healthcare landscape.”

“MedBridge has built a unique integrated solution that is highly differentiated in the market,” said Chris Reekie, Principal at Brentwood. “The company is well-positioned to benefit from several meaningful secular trends that we believe will allow for continued extension into new care settings.”

Zack Sigal, Principal at LLR Partners added, “We have very much enjoyed our collaborative partnership with MedBridge, and we look forward to helping drive continued growth with a like-minded partner in Brentwood.”

Aeris Partners advised MedBridge and LLR Partners on the transaction and DC Advisory advised Brentwood. DLA Piper served as legal counsel to Brentwood. Morgan Lewis served as legal counsel to MedBridge.

About MedBridge
MedBridge believes education is the most powerful way to improve outcomes. The all-in-one integrated platform is designed to help organizations retain their staff, improve the patient experience, and mitigate compliance risk. Recently named by Inc. Magazine as one of the nation's fastest growing companies, MedBridge drives better patient care while helping 1,700+ organizations improve financial performance through online professional development and patient engagement solutions.

About Brentwood Associates
Brentwood Associates is a Los Angeles-based private equity investment firm with a 30+ year history of investing in middle-market growth-oriented consumer and technology-enabled business services companies. Since 1984, Brentwood’s dedicated private equity team has invested in over 50 portfolio companies with an aggregate transaction value of over $6 billion. Brentwood is a value-added partner for entrepreneurs and senior management teams building world-class companies. For more information about Brentwood, please visit www.brentwood.com.

About LLR Partners
LLR Partners is a lower middle market private equity firm investing in technology and healthcare businesses. We collaborate with our portfolio companies to identify and execute on key growth initiatives and create long-term value. Founded in 1999 and with more than $5 billion raised across six funds, LLR is a flexible provider of equity capital for growth, recapitalizations and buyouts. For more information, visit www.llrpartners.com.

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Aeris Partners Serves as the Exclusive Financial Advisor to Within3 / Client Press Release

Aeris Partners is pleased to announce Within3, the leading provider of virtual collaboration and engagement solutions to the pharmaceuticals and life sciences industries, has been acquired by Insight Partners

LAKEWOOD, OH - September 24, 2020 - Within3, the leading enterprise-wide solution for life science collaboration and communication, closed over $100 million in growth funding in a financing round led by Insight Partners, with participation from Silversmith Capital Partners.

20 out of the top 20 pharmaceutical companies already use Within3 for global collaboration to bring drugs to market more quickly, publish clinical studies, host advisory boards and engage virtually on any business initiative with multi-stakeholder involvement. With users in over 150 countries and thousands of implementations worldwide, Within3 is the pioneer in enabling complex virtual communication in a secure environment. Each implementation is carefully designed to drive business outcomes and allows asynchronous participation supplemented with real-time touchpoints. Always-available reporting and analytics ensure real-time alignment of program goals. Within3’s unique combination of real-time and over-time communication drive the highest level of engagement and strong, measurable business results across the enterprise.

“Global demand for our solution is surging at an unprecedented rate,” said Lance Hill, CEO of Within3. “Life science companies are looking for virtual work solutions that exceed the level of engagement of traditional live interactions, meet all their compliance needs, and that will scale across the enterprise. They have found that solution with Within3.”

“The funding will allow us to accelerate our growth and product pipeline to continue to meet the growing demand from the market,” continued Hill. “We will be able to accelerate new innovations in our product roadmap and bring our customers smarter, more innovative solutions faster.”

“Investment opportunities in companies like Within3 don’t come around very often,” said Deven Parekh, Managing Director at Insight Partners. “The company has seen explosive growth over the last 12 quarters and continues to break new records each month. Their unparalleled ability to enable companies to achieve the results they desire faster and cheaper, and scale across the enterprise solving complex problems in all divisions of an organization sets them apart from other virtual engagement solutions. At a time when collaboration, communication and cooperation are more critical than ever across the global life sciences ecosystem, we are excited to bring our strategic operations expertise to help Within3 scale.” Parekh, along with Insight Partners’ Managing Directors Adam Berger and Ross Devor will join Within3’s board.

With over 80 compliance features, translation into more than 100 languages and a world-class client success team that is a part of every single implementation, life science companies are turning to Within3 as an enterprise-wide solution and their primary resource for stakeholder engagement.

Aeris Partners LLC served as the exclusive financial advisor to Within3. Willkie Farr & Gallagher served as legal advisors to Insight, and Kirkland and Ellis represented Silversmith Capital Partners.

ABOUT WITHIN3

Within3 invented a better way for life sciences companies to have conversations with the people who matter most—from doctors to patients to payers, and more. Our virtual engagement platform gives stakeholders the freedom to communicate anytime, anywhere, on any device. With practical tools to foster meaningful discussions and a dedicated client success team on every project, most Within3 projects achieve 100% stakeholder participation. Learn more at www.within3.com or follow us on Twitter @Within3.

ABOUT INSIGHT PARTNERS

Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.

ABOUT SILVERSMITH CAPITAL PARTNERS

Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $1.1 billion of capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. The partners have over 75 years of collective investing experience and have served on the boards of numerous successful growth companies.

 

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Aeris Partners Serves as the Exclusive M&A Advisor to WolfePak Software and Fort Point Capital / Client Press Release

Aeris Partners is pleased to announce WolfePak Software, the leading provider of Enterprise Resource Planning (ERP) software to the oil & gas industry, has been acquired by Charlesbank Capital Partners

BOSTON, MA - October 17, 2019 - Charlesbank Capital Partners today announced that its managed fund, Charlesbank Technology Opportunities Fund, has acquired WolfePak Software. This marks the first investment for Charlesbank’s new technology-focused fund. Financial terms of the transaction were not disclosed.

Headquartered in Abilene, TX, WolfePak is a leading provider of enterprise resource planning, operational and regulatory compliance software to 1,900 customers in the oil and gas industry, including oil and gas operators, midstream companies and mineral rights investors. Between 2016 and Charlesbank’s acquisition, the company was owned by Fort Point Capital, which helped to transform the company from a founder-owned business into a well-recognized leader and platform for consolidation in the specialized energy sector.

“We are thrilled to make our first acquisition for Charlesbank’s Technology Opportunities Fund,” said Hiren Mankodi, Managing Director at Charlesbank. “The company has a talented senior leadership team with a proven track record and decades of deep software experience. We look forward to working with them to build on WolfePak’s strong industry position and to accelerate the Company’s growth plans in new and existing markets.”

“Fort Point Capital has been an outstanding partner for WolfePak. They invested behind the creation of a sales and marketing engine to drive organic growth, introduced new product modules and spearheaded the build-out of our management team, enabling accelerated growth and the scalability of the business. They also provided excellent M&A support, enabling us to complete two strategic acquisitions over the past two years. I am thankful for their partnership in our effort to provide a best in class suite of software to the oil and gas industry, and I am excited for our next chapter with Charlesbank,” said Brent Rhymes, CEO of WolfePak.

Christina Pai, Partner at Fort Point Capital and Chairperson of the WolfePak Board, said, “WolfePak has been an exciting and successful investment for Fort Point Capital, and we are very proud of our partnership with the company. Under our ownership, WolfePak has grown significantly, both organically and through acquisition, and is well-positioned for the future. We are grateful for the efforts of Brent Rhymes, Karen Massey, Bill Hobbs, Zeb Hardy and the rest of the WolfePak management team and employees. We look forward to watching the company continue to grow and thrive with its new partner.”

Mayur Desai, Principal at Charlesbank, added, “We have been impressed with the reputation that WolfePak has built over decades for providing highly-quality solutions, seamless integration and excellent customer support. We look forward to partnering with the leadership team to build on this legacy.”

Aeris Partners served as exclusive advisor to WolfePak in connection with this transaction, and Goodwin served as legal advisor to Charlesbank.

About Charlesbank Capital Partners
Based in Boston and New York, Charlesbank Capital Partners is a middle-market private equity investment firm managing more than $5 billion of capital. Charlesbank focuses on management led buyouts and growth capital financings and also engages in opportunistic credit and technology investments. The firm seeks to partner with strong management teams to build companies with sustainable competitive advantage and excellent prospects for growth. For more information, please visit www.charlesbank.com.

About Fort Point Capital
Based in Boston, Massachusetts, Fort Point Capital is a private equity firm that invests in lower middle market, business services companies in partnership with strong management teams. For additional information please visit www.fortpointcapital.com.

About WolfePak Software
WolfePak Software offers a fully integrated suite of software products for oil and gas upstream and midstream customers, including exploration and production well operators, crude oil purchasers, transporters, haulers, investors, CPA firms and service companies.  Located in Abilene, deep in the heart of the Texas oil patch, WolfePak serves customers throughout the United States and the world. With its staff of experienced software developers, CPAs and oil and gas professionals, WolfePak has provided best-of-breed accounting and automation software and services since 1986.

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Aeris Partners Serves as the Exclusive M&A Advisor to Great Hill Partners and Qualifacts / Client Press Release

Aeris is pleased to announce Qualifacts, the leading provider of integrated clinical, financial, administrative and analytical applications to comprehensive behavioral health providers, has been acquired by Warburg Pincus

NASHVILLE, Tenn., Sept. 20, 2019 /PRNewswire/ -- Qualifacts, one of the largest Software-as-a-Service (SaaS) electronic health record providers (EHR) for behavioral health and human service organizations, today announced that Warburg Pincus, a leading global private equity firm focused on growth investing, has acquired the company from the previous investor, Great Hill Partners. Financial terms of the transaction were not disclosed.

The investment will allow Qualifacts to accelerate product development and expand sales and marketing efforts. The partnership will also help the company identify strategic relationships and acquisition opportunities. Qualifacts is a leader in cloud-based healthcare technology, providing integrated clinical, financial and administrative software solutions to the behavioral health and human service market.

"Qualifacts offers a unique platform with a focus on providing efficient and easy-to-use tools for behavioral health and human service organizations. Backed by their experience in healthcare technology and extensive network of resources, we are confident that Warburg Pincus will further accelerate our market leadership by delivering increased value for the customers we serve," said David Klements, President & CEO, Qualifacts. "We also want to sincerely thank Great Hill Partners for their partnership and support, which have been key to our success over the past five years."

Warburg Pincus is a leading investor in healthcare technology, focused on thesis-driven growth at scale. Since its inception, the firm has invested in excess of $10 billion and $17 billion into healthcare and technology companies, respectively.

"The company's product suite, combined with a strong presence in the healthy and growing behavioral health and human service end-market, creates a tremendous opportunity for both organic and inorganic growth," said Andrew Park, Managing Director, Warburg Pincus. "We are excited to partner with David and the Qualifacts management team, who bring strong domain experience in behavioral healthcare and have built a leadership position in the cloud-based healthcare technology space," added Amr Kronfol, Managing Director, Warburg Pincus.

Under Great Hill Partners' ownership since July 2014, Qualifacts has dramatically grown its customer base and workforce, cementing its position as one of the largest SaaS behavioral health EHR platforms and behavioral health EHR businesses. The company's SaaS EHR platform, CareLogic Enterprise, is used by more than 60,000 behavioral health professionals in 34 states and last year supported the delivery of more than 50 million services to over one million consumers.

"It has been an exciting journey for us to support the management team at Qualifacts through our investment. The team has shown great leadership in building a best-in-class SaaS platform for behavioral health organizations," said Mark Taber, Managing Partner, Great Hill Partners. "This investment by Warburg Pincus will further accelerate the growth of the business, and we wish the team continued success."

Aeris Partners served as the exclusive financial advisor to Qualifacts and Great Hill Partners. TripleTree served as the financial advisor to Warburg Pincus. Goodwin Procter LLP served as legal advisor to Qualifacts and Great Hill Partners and Orrick, Herrington & Sutcliffe LLP served as legal advisors to Warburg Pincus.

About Qualifacts
Qualifacts is one of the most trusted technology providers of Electronic Health Records (EHR) for behavioral health and human services organizations. As a strategic partner, Qualifacts and its EHR platform, CareLogic®, helps customers focus on what is most important – client care – by optimizing efficiency and productivity while also keeping them ahead of the ever-changing regulatory landscape. For more information, visit www.qualifacts.com.

About Warburg Pincus
Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The Firm has more than $65 billion in private equity assets under management. The Firm's active portfolio of more than 185 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 19 private equity funds, which have invested more than $77 billion in over 870 companies in more than 40 countries. Since inception, the firm has invested more than $10 billion in more than 150 healthcare companies and over $17 billion in more than 320 technology companies. The intersection of these two sectors is a key area of focus for the firm with current EHR investments including WebPT, Experity and Modernizing Medicine. The Firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai and Singapore. For more information please visit www.warburgpincus.com.

About Great Hill Partners
Great Hill Partners is a Boston-based private equity firm that has raised $7.7 billion in commitments since inception to invest in growth companies across a wide range of sectors including financial technology, healthcare, digital media & consumer, cloud & IT infrastructure, and software. Great Hill targets investments of $40 million to $250 million.  For more information, visit www.greathillpartners.com.

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Aeris Partners Serves as the Exclusive M&A Advisor to Battery Ventures and WebPT / Client Press Release

Aeris is pleased to announce WebPT, the leading provider of clinical EHR, practice management and revenue cycle management solutions to outpatient physical therapists, occupational therapists and speech-language pathologists, has been acquired by Warburg Pincus, a leading global private equity firm

PHOENIX--(BUSINESS WIRE / August 27, 2019)--WebPT today announced that Warburg Pincus, a leading global private equity firm focused on growth investing, has signed a definitive agreement to acquire a majority interest in the company from the previous investor, Battery Ventures. The investment, coupled with Warburg Pincus’s deep expertise in healthcare and technology, will help WebPT innovate upon its product suite and accelerate its mission of helping therapists achieve greatness in practice.

Since its launch in 2008, WebPT has maintained a track record of steady growth. Today, it is the leading electronic medical record (EMR) and practice management software for outpatient physical therapists, occupational therapists and speech-language pathologists. The fast-growing healthcare software-as-a-service (SaaS) company — which was recently named to the Inc. 5000 list for the seventh-consecutive year — has become the category leader in its space with 85,000 customers at more than 15,000 clinics across the U.S. and its territories.

“Warburg Pincus has an unrivaled history of success in healthcare and technology, and their investment speaks volumes about their belief in WebPT’s vision and purpose as well as the future of the rehab therapy industry,” said WebPT CEO Nancy Ham. “Rehab therapy has vast potential to improve health outcomes at scale and significantly reduce costs for patients and providers. Currently, however, 90% of people who could benefit from rehab therapy aren’t receiving it. We’re on a mission to change that, and Warburg Pincus is perfectly positioned to help us scale to reach those individuals and affect the industry as a whole.”

Warburg Pincus is a leading global private equity firm focused on thesis-driven growth at scale. Since its inception, the firm has invested in excess of $10 billion and $17 billion into healthcare and technology companies, respectively.

“WebPT is a best-in-class rehab therapy platform and represents a significant opportunity for growth given the shift toward value-based care in the rehab therapy market,” said TJ Carella, Managing Director, Warburg Pincus.

“We believe WebPT is a strong addition to our HCIT portfolio and look forward to partnering with Nancy and the entire team to help accelerate growth, advance innovation and support their clients,” added Amr Kronfol and Andrew Park, Managing Directors at Warburg Pincus.

Co-founder Dr. Heidi Jannenga, PT, DPT, ATC, will assume the role of Chief Clinical Officer while maintaining ownership interest. Jannenga will continue to advise on the company’s strategic direction and product innovation, while advocating for rehab therapy on a national and international scale.

“WebPT set out more than a decade ago to empower the PT, OT and SLP professions and fight for rehab therapy’s rightful place in the healthcare continuum,” said Dr. Heidi Jannenga. “We are grateful to Battery Ventures for their impeccable support and guidance, which has helped us grow exponentially over the last five years. While our business has evolved, we’ve stayed true to our mission of empowering rehab therapists to achieve greatness in practice. Now, our new partnership with Warburg Pincus will give us the tools and resources we need to make the greatest possible impact on health care and help rehab therapists expand their reach to the millions of people who could benefit from receiving musculoskeletal care.”

The investment in WebPT comes as the $35-billion rehab therapy market is projected to expand, influenced by an aging and active U.S. population and demand for treatment pathways that reduce opioid exposure. Furthermore, the American Academy of Orthopaedic Surgeons reports that an estimated 126.6 million Americans (one in two adults) are affected by a musculoskeletal condition, which costs an estimated $213 billion in annual treatment, care and lost wages.

Aeris Partners served as the exclusive financial advisor to WebPT and Battery Ventures.

About WebPT, Inc.

WebPT is the leading rehab therapy platform for enhancing patient care and fueling business growth. WebPT’s product suite provides a robust end-to-end solution covering the entire rehab therapy business cycle, from billing and managing a practice to delivering quality, evidence-based care. With a 99-percent retention rate and an uptime rate in excess of 99.9 percent across its entire platform, WebPT is the most-trusted and most-reliable solution in the industry, regardless of practice setting, specialty or size. WebPT’s growth has earned it a spot on the Inc. 5000 list of the nation’s fastest-growing companies seven years in a row as well as inclusion on the 2018 Healthcare Informatics list of the top 100 U.S. healthcare IT vendors. Learn more at www.webpt.com

About Warburg Pincus

Warburg Pincus, LLC is a leading global private equity firm focused on growth investing. The firm has more than $65 billion in private equity assets under management. The firm’s active portfolio of more than 185 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 19 private equity funds, which have invested more than $77 billion in over 870 companies in more than 40 countries. Since inception, the firm has invested more than $10 billion in more than 150 healthcare companies and over $17 billion in more than 320 technology companies. The intersection of these two sectors is a key area of focus for the firm with current and past HCIT investments having included Nuance Communications, A Place For Mom, Alignment Healthcare, Modernizing Medicine, and Experity. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai and Singapore. For more information please visit www.warburgpincus.com.

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Aeris Partners Serves as the Exclusive M&A Advisor to Thoma Bravo and Elemica / Client Press Release

Aeris is pleased to announce Elemica, the leading provider of supply chain SaaS and network solutions to the process manufacturing industry, is being acquired by Eurazeo, a leading global investment firm

Wayne, PA and Paris, France (August 2, 2019) – Elemica, the leading cloud based Digital Supply Network for the global Process Industries, announces its acquisition by Eurazeo, a leading global investment company listed in France.  This new partnership with Eurazeo will support Elemica’s continued global growth and product line development, allowing the company to extend into new industry verticals with its expanding software product portfolio.

“Elemica is the leading provider of digital transformation solutions for the Process Manufacturers. This major new investment from Eurazeo will support our strategy of continuing to expand our reach into adjacent markets segments, while also allowing the company to broaden its product portfolio,” said Rich Katz, President of Elemica. “We will continue to invest in next-generation  technologies, as we have seen how this focus ultimately benefits our clients, allowing them to quickly realize improvements to their bottom line results as they deploy our game changing solutions.”

“We are delighted to announce the acquisition of Elemica, which will join Eurazeo Capital’s U.S. investment portfolio alongside Trader Interactive and WorldStrides,” said Marc Frappier, Managing Partner of Eurazeo Capital. “Elemica is a key technology provider, operating at the heart of the global Process Industries supply chain. The company has meaningful growth potential and aligns in all respects with Eurazeo’s investment strategy. We are convinced that with our support, expertise and international network, Elemica will accelerate its development in new industries, geographies and product offerings.”

John Blyzinskyj, CEO of Elemica added, “With Eurazeo’s partnership, we will be able to globally develop Elemica’s nearly 20-year vision of connecting the world’s leading process manufacturers to their direct material suppliers, logistics service providers, and customers. Our transatlantic operations and global ambitions make Elemica and Eurazeo very complementary partners and we look forward to executing on our growth strategy together.”

Elemica has developed a broad set of cloud based solutions that connect, automate, anticipate, and digitally transform global supply chains.  The company’s products drive lasting operational excellence in their clients’ world wide operations, while also giving them a competitive edge. Elemica’s patented digital network connects process manufacturing enterprises with their supply chain trading partners. The company has a wide portfolio of cloud based supply chain solutions which support the critical business processes that global enterprises use every day.  These business processes involve the activities around the products clients are buying, selling, moving, complying, and tracking throughout their global supply chains.

Elemica is currently a portfolio company of Thoma Bravo, a leading private equity firm focused on the software and technology-enabled services sectors. Thoma Bravo acquired the company in 2016 from Elemica’s founding investors. Elemica was advised in this transaction by Aeris Partners of Boston, and also Kirkland & Ellis LLP who served as legal advisor.  Eurazeo Capital is expected to complete it’s acquisition of Elemica during the third quarter.

About Elemica

Elemica is the leading Digital Supply Network for the process manufacturing industries. Elemica accelerates digital transformation by connecting, automating, anticipating, and then transforming inter-business supply chain processes for the products they buy, sell, move, and comply. Launched in 2000, customers process over $500B in commerce annually on the network. For more information, visit www.elemica.com.

About Eurazeo

Eurazeo is a leading global investment company, with a diversified portfolio of €17.7 billion in assets under management, including nearly €11.6 billion from third parties, invested in nearly 400 companies. With its considerable Private Equity, real estate, private debt and fund of funds expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its 235 professionals and by offering deep sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term. Eurazeo has offices in Paris, New York, Sao Paulo, Seoul, Shanghai, London, Luxembourg, Frankfurt and Madrid. Eurazeo is listed on Euronext Paris.

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Aeris Partners Serves as the Exclusive M&A Advisor to Francisco Partners and Nextech Systems / Client Press Release

Aeris is pleased to announce Nextech Systems, a leading provider of healthcare technology solutions for specialty physician practices, has been acquired by Thomas H. Lee Partners

Tampa, FL & Boston, MA (June 26, 2019) – Nextech Systems (the “Company” or “Nextech”), a leading provider of healthcare technology solutions for specialty physician practices, today announced that funds affiliated with Thomas H. Lee Partners, L.P. (“THL”), a premier private equity firm investing in middle-market growth companies, have acquired Nextech from Francisco Partners and its other stockholders. Terms and conditions for the transaction were not disclosed.

Founded in 1997 and headquartered in Tampa, Florida, Nextech is a complete healthcare technology solution for over 11,000 providers and 4,000 practices across a variety of core specialties. By leveraging the Company’s innovative, intuitive HCIT software solutions, including its purpose-built cloud platform, best-in-class practice management and electronic medical record workflow and integrated patient engagement and revenue cycle management software, Nextech streamlines back-end processes and enhances optimization for its providers and practices - thereby driving higher patient volumes, increased customer satisfaction, and improved efficiency. 

Building on the Company’s proven track record of growth, market leadership, and innovation, THL will support Nextech’s continued success by contributing operational and financial resources and strategic expertise as the Company further enhances its cloud platform and pursues strategic M&A opportunities. Nextech will retain its corporate headquarters in Tampa, Florida, and will continue to be led by its Chief Executive Officer, Mike Scarbrough and the other members of its senior management team.

“We are thrilled to partner with THL, whose proven track record with software platforms, operational expertise, and keen eye for acquisition opportunities will accelerate our continued growth, innovation, and product leadership among technology providers to specialty healthcare practices,” said Mike Scarbrough, CEO of Nextech. “We believe this strategic partnership with THL will serve as a vehicle to drive us forward in our next chapter of growth and continued success.”

“We are excited to partner with Mike Scarbrough and Nextech’s experienced management team,” said Laura Grattan, Managing Director at THL.  “Nextech has created an exceptional healthcare software platform, consistently improving its solutions to empower specialty physicians to optimize their operations, strengthen patient interactions, and maximize efficiency.  Nextech is well-positioned to expand its market position with a growing suite of cloud products across a broad set of specialties, and we look forward to investing in this organization to accelerate growth alongside an outstanding executive team.”

“We are proud to have partnered with Nextech through its significant growth over the last few years, having expanded into multiple new specialties and developed a suite of cloud-based solutions” added Ezra Perlman, Co-President at Francisco Partners. “It was a pleasure to work alongside Mike and the rest of the passionate Nextech team, and we wish them every success in the future.”

Aeris Partners acted as financial advisor and Paul Hastings acted as legal advisor to Nextech and Francisco Partners.  Kirkland & Ellis acted as legal advisor, PricewaterhouseCoopers acted as accounting advisor, and William Blair & Co. acted as financial advisor to THL.

About Thomas H. Lee Partners, L.P.

Thomas H. Lee Partners, L.P. ("THL") is a premier private equity firm investing in growth companies headquartered in North America. THL focuses its investment activity across four industry sectors: Business & Financial Services, Consumer & Retail, Healthcare and Media, Information Services & Technology. Since its founding in 1974, THL has raised more than $25 billion of equity capital, invested in over 140 companies and completed more than 400 add-on acquisitions representing an aggregate enterprise value at acquisition of over $200 billion. With dedicated sector and operating teams, THL brings deep domain expertise and resources to build great companies by helping to accelerate growth, improve operations and drive long-term sustainable value in partnership with management. For more information on THL, please visit www.THL.com

About Francisco Partners

Francisco Partners is a leading global private equity firm that specializes in investments in technology and technology-enabled businesses. Since its launch over 19 years ago, Francisco Partners has raised over $14 billion in committed capital and invested in more than 200 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.

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Aeris Partners Serves as the Exclusive Sell-Side Advisor to KEV Group / Client Press Release

Aeris is pleased to announce KEV Group, a leading provider of online payment, accounting and activity tracking solutions to K-12 schools, has received a minority investment from Serent Capital

TORONTO, CANADA (September 25, 2018) – KEV Group, the leading provider of cash accounting management and online payments software for K-12 schools, is pleased to announce a minority investment from Serent Capital, a San Francisco-based private equity firm focused on investing in high-growth technology and services businesses.

KEV’s School Cash Suite is a web-based platform designed to meet the unique financial needs of K-12 schools. KEV’s software empowers almost 9,000 schools across North America to manage more than $1.5 billion in funds per year, eliminating the challenges of dealing with cash in schools. The School Cash Suite is the only solution available that fully integrates online payments, fee management, school-level accounting, and digital forms into one easy to use solution for administrators, parents and students. The system was developed by industry leaders to simplify accounting and cash management tasks, while providing the transparency, accountability, internal controls and reporting capabilities that district business officials require.

“We are excited to be partnering with Serent.” said Bram Belzberg, Chairman & CEO of KEV Group. “For the past 22 years, the foundation of our business has been delivering the best, most innovative solutions to our users. Serent’s resources and expertise will help us increase our investments in product development and customer support to enhance the value to our users, extend our sales and marketing efforts to serve more schools and districts, and develop the organization to support the company’s next phase of growth.

“We first met KEV almost three years ago.  Since then, we have witnessed the company grow and develop into a market leader with a robust school financial management solution and a deeply committed team solving the most pressing accounting and payments challenges faced by schools and districts,” said Kevin Frick, Partner at Serent Capital.  He continued, “We are delighted to have the opportunity to invest and support the company in its next phase of growth. We are confident that our experience investing in the Education space and the resources of our Growth Team will enable KEV to better serve its school and school board clients, and bring its innovative cash management and payments solutions to even more schools in the coming years.”

Serent’s investment in KEV represents its sixth investment in the education sector. Prior Serent education investments include USATestprep (2018), ArbiterSports (2017), Digital Architecture (2016), Diamond Mind (2014), and C2 Education (2011). Boston based Aeris Partners LLC advised KEV in this transaction.

About KEV Group
KEV Group provides industry-leading online payment, accounting and activity tracking solutions to almost 9,000 schools across North America. For more than 20 years, KEV Group’s School Cash Suite of products has helped schools and school boards ensure the security and transparency of student activity funds. KEV Group has been recognized on Deloitte’s Technology Fast 500 as one of North America’s fastest growing technology companies. For more information, visit kevgroup.com and schoolcashonline.com.

About Serent Capital
Serent Capital invests in growing businesses that have developed compelling solutions that address their customers’ needs. As those businesses grow and evolve, the opportunities and challenges that they face change with them. Principals at Serent Capital have firsthand experience at capturing those opportunities and navigating these difficulties through their experiences as CEOs, strategic advisors and board members to successful growing businesses. By bringing its expertise and capital to bear, Serent helps growing businesses thrive. www.serentcapital.com

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Aeris Partners Serves as the Exclusive M&A Advisor to Net Health on its Acquisition by The Carlyle Group / Client Press Release

Aeris is pleased to announce Net Health, a portfolio company of Spectrum Equity, has been acquired by The Carlyle Group

Pittsburgh, PA (December 18, 2017) - Net Health, a provider of cloud-based clinical documentation, practice management, and billing solutions for specialized outpatient healthcare providers, today announced it has entered into a definitive agreement to be acquired by The Carlyle Group (NASDAQ: CG), a global alternative asset manager, Net Health’s management team, and Level Equity, a software-focused growth equity investor. Net Health’s industry-proven software solutions (Agility®, ReDoc®, and WoundExpert®) serve specialty healthcare providers and administrative professionals in five primary markets: employee health, occupational medicine, rehab therapy (PT, OT, SLP), urgent care, and wound care. The transaction is expected to close in Q4 2017 and terms of the transaction were not disclosed.

“We are absolutely thrilled to be partnering with The Carlyle Group,” said Anthony Sanzo, CEO of Net Health. “We are delighted by the confidence Carlyle has demonstrated in our products, services, vision, and leadership. Carlyle’s highly strategic, thoughtful, and collaborative approach will help the company capitalize on the vast opportunity ahead. In addition, we would like to thank Spectrum Equity for their stewardship of Net Health as the company experienced very strong growth and product innovation over the past five years, positioning the company for long-term success.”

Steve Bailey, Carlyle Managing Director, stated, “We’re excited to partner with Anthony Sanzo and the Net Health management team. Net Health has done an incredible job supporting specialized healthcare providers in high-growth clinical segments, including those that can’t be served effectively by generic HCIT (healthcare information technology) solutions. Net Health’s ability to streamline highly complex workflow is driving tremendous value for specialized healthcare providers and strong growth for the company.”

Mike Gozycki, Carlyle Managing Director, added, “Net Health’s best-in-class SaaS solutions increase revenue, reduce costs, and improve clinical outcomes for healthcare providers and their patients. With Carlyle and Level’s collective resources and capital, we are eager to support management’s plans to continue investing heavily in their best-of-breed software solutions, their highly scalable xfit® platform, customer support, and to generally support the company’s vision of making their customers successful.”

Jeff Haywood, Principal at Spectrum Equity, stated, “It has been a pleasure partnering with Anthony and the management team. Together, we scaled the company both organically as well as through acquisitions and created a fully integrated SaaS platform across all of the company’s end-markets. We wish the team well in the next phase of the company’s growth.”

Carlyle’s equity for the investment will come from Carlyle U.S. Equity Opportunity Fund II, which is a Carlyle fund focused on middle market investments, and Net Health management.  Carlyle has successfully coinvested with Level Equity previously and has a long history of successful investments in leading industry-specific application software solutions companies, including Compusearch, serving the government sector; FRS Global, serving the financial services sector; Gemcom, serving the mining sector; ION Investment Group, serving the financial services sector; MetroLogic, serving the aerospace and automotive sectors; OpenLink Financial, serving the commodity, energy, and financial services sector; Primatics, serving the financial services sector; Quorum, serving the energy sector; RMI, serving the rail sector; and SchoolNet, serving the education sector.  Spectrum Equity, a leading growth equity firm and partner to Net Health for the past five years, will successfully exit its investment in Net Health. Choate Hall & Stewart LLP provided legal advisory services and Aeris Partners LLC served as the exclusive investment banking advisor to Net Health and Spectrum Equity. Latham & Watkins provided legal advisory and Ernst & Young provided financial consulting to Carlyle and Level Equity.

About Net Health

Net Health is the leader in software solutions for specialized outpatient care. Known for being experts in The Art of the Right Fit®, our fully interoperable EHR solutions serve five medical specialty markets and offer clients an end-to-end solution that includes practice management tools, clinical workflow documentation, revenue cycle management, expert coaching, and analytics. Net Health serves healthcare professionals in 98% of the largest hospital chains as well as private practices around the country—driving workflow in more than 3,000 urgent care, wound care, physical therapy, speech and language therapy, occupational therapy, occupational medicine, employee health, and workplace medicine facilities each day. For more information visit nethealth.com.

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $174 billion of assets under management across 306 investment vehicles as of September 30, 2017. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy & power, financial services, healthcare, industrial, infrastructure, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,550 people in 31 offices across six continents.

About Level Equity

Based in New York, NY, Level Equity is a growth equity firm focused on providing capital to rapidly growing software and internet companies.  The firm manages over $940 million across a series of long-term committed investment partnerships. Principals at Level Equity have invested in 65 technology businesses over the past 20 years. For more information about Level Equity, visit levelequity.com.

About Spectrum Equity

Spectrum Equity is a leading growth equity firm providing capital and strategic support to innovative companies in the information economy.  For over 20 years, the firm has partnered with exceptional entrepreneurs and management teams to build long-term value in market-leading software, information services and Internet companies.  Representative investments include Ancestry, Bats Global Markets, Definitive Healthcare, GoodRx, Grubhub, Jimdo, Lynda.com, SurveyMonkey, Teachers Pay Teachers and Verafin. For more information, visit spectrumequity.com

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Aeris Partners Serves as the Exclusive M&A Advisor to WorkWave on its Acquisition by IFS / Aeris Press Release

Aeris is pleased to announce WorkWave, a leading provider of Software-as-a-Service (SaaS) field service management, fleet management, and marketing automation solutions, has been acquired by IFS

BOSTON, MA (November 7, 2017) – Aeris Partners is pleased to announce WorkWave, a leading provider of Software-as-a-Service (SaaS) field service management, fleet management, and marketing automation solutions, has been acquired by IFS, a portfolio company of EQT, and a leading provider of enterprise software solutions to more than one million users globally.

Aeris Partners served as the exclusive financial advisor to WorkWave shareholders and management.

WorkWave’s scalable suite of cloud-based solutions seamlessly integrates back-office, field, and front-end marketing operations for more than 7,300 SMB and enterprise-scale field service management clients throughout the U.S. and more than 35 countries worldwide. WorkWave’s ability to streamline scheduling, planning and billing, increase field visibility and productivity, and automate marketing and sales activities increases efficiency, productivity, revenue, service quality, and customer satisfaction for its clients. 

“WorkWave’s unwavering commitment to product innovation, best-in-class customer support, and the ongoing success of its SMB and enterprise clients is fueling record growth, momentum, and success for the Company,” said David Joncas, Managing Director of Aeris Partners.  “We were honored to advise WorkWave’s shareholders and management team on the transaction.”

“WorkWave’s longstanding track record of market leadership and strong organic growth is truly impressive,” said Derek Swaim, Managing Director of Aeris Partners. “WorkWave is a world-class organization and we’re confident the Company has found an ideal partner in IFS and EQT.”

About WorkWave
WorkWave is dedicated to simplifying the complexity of running field service and other last mile delivery and logistics businesses.  The company’s suite of solutions, which include, among others, PestPac®, WorkWave Service™, ServiceCEO™, WorkWave Route Manager™, WorkWave GPS™, GPS Heroes™ and ContactUs™, allow WorkWave clients to easily improve their back-office efficiency, increase visibility & productivity of field operations, and enhance sales, marketing and customer service through a single, easy to use interface. WorkWave’s platform provides its 7,300+ clients an unprecedented level of business insight and information, enabling them to improve efficiency, increase revenue and provide a 5-Star customer experience. Founded in 1984, WorkWave has been recognized with multiple awards for its outstanding growth and culture, including the Inc. 5000, SaaS Award, and Best Place to Work by NJBiz & Inc. Magazine. For more information, visit: www.workwave.com

About IFS
IFS™, headquartered in Linköping, Sweden, develops and delivers enterprise software for customers around the world who manufacture and distribute goods, maintain assets, and manage service-focused operations. IFS’ industry expertise, people and solutions, together with its commitment to customers, has made IFS a recognized leader and the most recommended supplier in its sector. IFS’ team of 3,300 employees supports more than one million users worldwide from a network of local offices and through a growing ecosystem of partners. For more information, visit: IFSworld.com

About EQT
EQT is a leading alternative investments firm with approximately EUR 37 billion in raised capital across 24 funds. EQT funds have portfolio companies in the US, Europe, and Asia with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence, and market leadership. For more information, visit: www.eqtpartners.com

About Aeris Partners
Aeris Partners provides premium strategic M&A advisory services to leading technology companies, private equity investors, and venture capital firms spanning the software, SaaS (Software-as-a-Service), business information, and technology-enabled sectors, and a range of high-growth market verticals including healthcare (HCIT), financial technology (FinTech), architecture, engineering and construction (AEC), education (EdTech), analytics, transportation and logistics, and the public sector, among others. Aeris leverages extensive technology domain expertise and an unparalleled commitment to delivering superior M&A outcomes on every transaction. The firm’s senior leadership team has successfully completed more than $20 billion of M&A advisory assignments to date. For more information, please visit: www.aerispartners.com

Aeris Partners Contact Information:
• David Joncas, Managing Director, (617) 751-4017, dwj@aerispartners.com
• Derek Swaim, Managing Director, (617) 751-4014, dms@aerispartners.com
• Stephen O’Leary, Managing Director, (617) 751-4023, sjo@aerispartners.com
• Rahul Swani, Managing Director, (617) 751-4025, rs@aerisparthers.com

Aeris Partners LLC is a registered broker-dealer and member of FINRA and SIPC

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Aeris Serves as the Exclusive M&A Advisor to Cycle Computing on its Strategic Acquisition by Microsoft / Microsoft Release

Microsoft Acquires Cycle Computing to Accelerate Big Computing in the Cloud

Seattle, WA (Aug 15, 2017) - Jason Zander - Corporate Vice President, Microsoft Azure

From finding a cure for cancer to making vehicles safer to fulfilling the promises of artificial intelligence, today’s complex problems require the ability to harness massive amounts of computing power. For too long, Big Computing has been accessible only to the most well-funded organizations. At Microsoft, we believe that access to Big Computing capabilities in the cloud has the power to transform many businesses and will be at the forefront of breakthrough experimentation and innovation in the decades to come. Thus far, we have made significant investments across our infrastructure, services and partner ecosystem to realize this vision.

As a further step in this direction, I’m pleased to share that we’ve acquired Cycle Computing, a leader in cloud computing orchestration, to help make it easier than ever for customers to use High-Performance Computing (HPC) and other Big Computing capabilities in the cloud. The cloud is quickly changing the world of Big Compute, giving customers the on-demand power and infrastructure necessary to run massive workloads at scale without the overhead. Your compute power is no longer measured or limited by the square footage of your data center.

Azure has a massive global footprint and, more than any other major cloud provider. It also has powerful infrastructure, InfiniBand support for fast networking and state-of-the-art GPU capabilities. Combining the most specialized Big Compute infrastructure available in the public cloud with Cycle Computing’s technology and years of experience with the world’s largest supercomputers, we open up many new possibilities. Most importantly, Cycle Computing will help customers accelerate their movement to the cloud, and make it easy to take advantage of the most performant and compliant infrastructure available in the public cloud today.

We’ve already seen explosive growth on Azure in the areas of artificial intelligence, the Internet of Things and deep learning. As customers continue to look for faster, more efficient ways to run their workloads, Cycle Computing’s depth and expertise around massively scalable applications make them a great fit to join our Microsoft team. Their technology will further enhance our support of Linux HPC workloads and make it easier to extend on-premise workloads to the cloud.

Customers like the City of Hope and MetLife have already benefited from the flexibility and scalability of Azure HPC data-processing capabilities to achieve faster and more accurate results, while saving significant infrastructure costs. We look forward to hearing many more success stories from other customers as well, and we’re excited for you to put Azure to the test.

In the meantime, I’m excited to welcome the Cycle Computing team to Microsoft, and look forward to seeing the impact their technology and talent will have on Azure and the customer experience.

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Aeris Serves as the Exclusive M&A Advisor to Dexter + Chaney and Pamlico Capital / Client Press Release

Viewpoint and Bain Capital Acquire Dexter + Chaney, a Leading Provider of ERP Software to the Construction Industry

SEATTLE, WA and CHARLOTTE, NC (July 24, 2017) - Pamlico Capital (“Pamlico”), a leading middle market private equity firm focused on growth oriented businesses, has closed the previously announced sale of its portfolio company Dexter & Chaney, LLC (“Dexter + Chaney”) to Viewpoint Construction Software (“Viewpoint”).  Terms of the transaction were not disclosed.

Headquartered in Seattle, Washington and founded in 1981, Dexter + Chaney is a leading provider of financial and operational management software for construction contractors. The Company’s product, Spectrum® Construction Software, is an integral component of daily operations for more than 1,100 contractors. Pamlico acquired Dexter + Chaney in partnership with management in December 2014.  Since that time, Pamlico has helped recruit a world-class management team, adding key executives including Brian Rice (Chief Financial Officer), Eric Newton (SVP of Sales and Marketing), and Scott Rosenbloom (VP Strategy), and has assisted the team with accelerating growth through various strategic initiatives, including investments in product development and sales and marketing.

“After spending 35 years in business with no external funding, we feel very fortunate to have chosen Pamlico as our first investor.  Their insights, strategic guidance, and support have helped us achieve fantastic growth over the last few years," said Dexter + Chaney founder and Executive Chairman John Chaney. Norbert Orth, President and CEO, added, "Pamlico’s partnership allowed us to achieve our strategic growth initiatives around increasing market share and extending product leadership. We are grateful for our partnership and are now excited to be joining Viewpoint to further expand our capabilities for our valued customers.”

Walker Simmons, Partner at Pamlico, said, “We really enjoyed working with John Chaney, Norbert Orth, and the entire Dexter + Chaney team.  They are talented operators and we are thankful to have had the opportunity to help them achieve their vision for Dexter + Chaney.”  Pamlico Partner Eric Wilkins added, “Our investment thesis in the construction technology space led us to Dexter + Chaney.  This transaction validates the strength of the Spectrum® Construction Software product and the hard work by the entire Dexter + Chaney team, who we thank for their efforts on behalf of Pamlico and wish continued success as part of Viewpoint.”

Dexter + Chaney and Pamlico were advised by Aeris Partners (financial advisor) and Troutman Sanders LLP (legal advisor).

About Dexter + Chaney

Dexter + Chaney is a provider of cloud-based construction ERP software. From the office to the field, and from accounting to project management, Dexter + Chaney has been providing complete construction management software for more than 35 years. Dexter + Chaney serves more than 1,100 contractors across all construction segments, including heavy/highway and utility, general contractors, electrical, mechanical, and specialty subcontractors, and across all sizes, from locally owned subcontractors to some of the world’s largest construction firms.  Dexter + Chaney’s web-based software applications allow customers to get work done anywhere using any device with a web browser and without the need to download any software. For more information, please visit www.dexterchaney.com.

About Pamlico Capital

Pamlico Capital is a private equity firm founded in 1988 that invests in growing middle market companies in the U.S. Pamlico Capital seeks control-oriented growth equity and buyout investments of up to $100 million alongside proven management teams in its target industries: Business & Technology Services, Communications, and Healthcare. Since inception, the firm, based in Charlotte, NC, has invested over $2.5 billion. For additional information, please visit www.pamlicocapital.com.

About Viewpoint

Viewpoint is a global provider of innovative construction-specific software solutions and services for the AEC and asset owner markets.   Viewpoint’s comprehensive solution suite addresses the needs of the office, extended project team and field for improved visibility, accuracy and control.  Viewpoint solutions cover the full project lifecycle, from preconstruction to construction and facilities maintenance.  Viewpoint’s  products are web and mobile ready and are offered in cloud or on-premises deployment options. Headquartered in Portland, Oregon, USA, and with offices in the UK and Australia, Viewpoint has become the technology partner of choice, with customers located in more than 28 countries. For more information, please visit www.viewpoint.com.

Source: Pamlico Capital

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Aeris Partners Advises Grammarly on its $110 Million Minority Investment / Aeris Press Release

Aeris Continues Exceptional Momentum Advising Market-Leading SaaS Companies

BOSTON, Mass. (May 9, 2017) – Aeris Partners is pleased to announce that Grammarly received a $110 million minority investment, the Company’s first institutional funding. Grammarly’s communication assistant uses artificial intelligence to help users worldwide write clearly, effectively, and accurately.   Aeris Partners served as the exclusive financial advisor to Grammarly.

Grammarly was founded in 2009 and had been bootstrapped since inception.   General Catalyst Partners led the financing round with participation from Breyer Capital, IVP, SignalFire and Spark Capital.  Grammarly currently supports more than 6.9 million daily active users, including consumers, students and professionals. 

“Grammarly is a truly exceptional company and the management team of Brad Hoover, Max Lytvyn and Alex Shevchenko represents the kind of extraordinary business and technical talent that Aeris seeks to work with,” said Stephen O’Leary, Managing Director of Aeris Partners.  “The team combines a bold strategic vision with impressive execution.”

“We enjoyed the close collaboration with management in orchestrating a thoughtful and thorough process” noted Rahul Swani, Managing Director of Aeris Partners.

“We appreciate the close support, guidance and exceptional execution that Aeris provided” added Brad Hoover, Grammarly’s Chief Executive Officer. 

About Grammarly
Grammarly’s AI-powered products help people communicate more effectively. Millions of users rely on Grammarly every day to make their messages, documents, and social media posts clear, mistake-free, and impactful. Grammarly is an Inc. 500 company headquartered in San Francisco with offices in New York and Kyiv.

About Aeris Partners
Aeris Partners provides premium strategic M&A advisory services to leading technology companies, private equity investors and venture capital firms spanning the software, SaaS, business information and technology-enabled services sectors, and a range of high-growth market verticals including healthcare IT; education technology; financial technology; architecture, engineering and construction (AEC); analytics and AI; transportation and logistics; and public sector, among others.  Aeris leverages extensive technology domain expertise and an unparalleled commitment to delivering superior outcomes on each of its transactions. The firm’s senior leadership team has successfully completed more than $18 billion of M&A advisory assignments to date. For more information, please visit www.aerispartners.com.

Contact Information:
• Stephen O’Leary, Managing Director, (617) 751-4023, sjo@aerispartners.com
• Rahul Swani, Managing Director, (617) 751.4025, rs@aerispartners.com
• David Joncas, Managing Director, (617) 751-4017, dwj@aerispartners.com
• Derek Swaim, Managing Director, (617) 751-4014, dms@aerispartners.com

Aeris Partners LLC is a registered broker-dealer and member of FINRA and SIPC

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Aeris Partners Advises ConstructConnect on its Strategic Acquisition by Roper Technologies / Aeris Press Release

Aeris completes seven AEC software and SaaS M&A advisory assignments in approximately 24 months

BOSTON, MA (October 31, 2016) – Aeris Partners is pleased to announce ConstructConnect, the leading provider of cloud-based data, collaboration, and workflow automation solutions to the commercial construction industry, is being acquired by Roper Technologies. Aeris Partners and Guggenheim Securities served as the exclusive sell-side M&A advisors to ConstructConnect and its majority investors, Genstar Capital and Warburg Pincus.

ConstructConnect leverages the industry’s largest cloud-based data and collaboration platform to automate commercial pre-construction processes for more than 800,000 registered users, including general contractors, subcontractors, building product manufacturers, architects, engineers, and project owners. The ConstructConnect platform managed more than 400,000 active construction projects and 55 million invitations to bid over the past 12 months.

The transaction is expected to close on October 31, 2016.

Aeris Partners has successfully completed seven architecture, engineering and construction (AEC) software and SaaS M&A assignments in approximately 24 months, including the acquisitions of iSqFt and BidClerk by Genstar Capital in 2014, and the acquisition of On Center Software by Roper Technologies in 2015. Recent AEC software and SaaS transactions completed by Aeris include:

- Acquisition of iSqFt by Genstar Capital;
- Acquisition of BidClerk by Genstar Capital;
- Acquisition of Axium by Deltek;
- Acquisition of FiveCubits by Command Alkon;
- Acquisition of On Center Software by Roper Technologies; and
- Acquisition of Ecosys by Hexagon AB.

“Dave Conway and the ConstructConnect team have been innovators and a true driving force in the industry for more than a decade. The Company’s cloud-based platform and network of more than 800,000 registered users has transformed the industry’s approach to commercial pre-construction coordination, collaboration and bidding. ConstructConnect has done an incredible job, and we were honored to advise management, Genstar Capital, and Warburg Pincus on the transaction,” said David Joncas, Managing Director with Aeris Partners.

About ConstructConnect
ConstructConnect’s collaborative network empowers the construction industry to be more successful with access to relevant information through easy to use technology.  Headquartered in Cincinnati, Ohio and with eight other offices in the US and Canada, ConstructConnect brings project participants together throughout North America with the most complete, accurate and actionable construction data to drive success in their markets. For more information, visit www.constructconnect.com.

About Genstar Capital
Genstar Capital is a leading private equity firm that has been actively investing in high quality companies for more than 20 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of operating executives and strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar manages funds with total capital commitments of over $5 billion and targets investments focused on selected sectors within the industrial technology, software, healthcare, and financial services industries. For more information, please visit www.gencap.com.

About Warburg Pincus
Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $40 billion in private equity assets under management. The firm’s active portfolio of more than 120 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value, and they have been among the most active investors in marketplace businesses globally with current and former investments including 58.com, Quikr, Koudai, CarTrade, GO-JEK, GrubHub Seamless, A Place for Mom, and Slickdeals. Founded in 1966, Warburg Pincus has raised 15 private equity funds, which have invested more than $58 billion in over 760 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Hong Kong, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai and Singapore. For more information please visit www.warburgpincus.com.

About Aeris Partners
Aeris Partners provides premium strategic M&A advisory services to leading technology companies, private equity investors, and venture capital firms spanning the software, SaaS (Software-as-a-Service), business information, and technology-enabled sectors, and a range of high-growth market verticals including healthcare (HCIT), financial technology (FinTech), architecture, engineering and construction (AEC), education (EdTech), analytics, transportation and logistics, and the public sector, among others. Aeris leverages extensive technology domain expertise and an unparalleled commitment to delivering superior M&A outcomes on every transaction. The firm’s senior leadership team has successfully completed more than $18 billion of M&A advisory assignments to date. For more information, please visit www.aerispartners.com.

Aeris Partners Contact Information:
• David Joncas, Managing Director, (617) 751-4017, dwj@aerispartners.com
• Stephen O’Leary, Managing Director, (617) 751-4023, sjo@aerispartners.com
• Derek Swaim, Managing Director, (617) 751-4014, dms@aerispartners.com

Aeris Partners LLC is a registered broker-dealer and member of FINRA and SIPC
 

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Aeris Partners Advises Finalsite on Acquisition by Bridge Growth Equity / Aeris Press Release

Aeris Partners Advises Finalsite, a Leading Provider of SaaS-Based Learning and Communications Solutions to K-12 and Higher Education Institutions

BOSTON, MA (September 8, 2016) – Aeris Partners is pleased to announce Finalsite, a leading provider of SaaS-based learning and communications solutions to more than 1,500 independent and public K-12 schools and higher education institutions worldwide, has been acquired by Bridge Growth Partners (“Bridge Growth”), a leading growth-oriented private equity firm. Aeris Partners served as the exclusive M&A adviser to Finalsite and its majority owner Spectrum Equity. The transaction closed on August 31, 2016.

Finalsite, based in Glastonbury, CT, serves leading independent K-12 schools, public school districts, higher education institutions, and not-for-profit organizations in 70 countries worldwide. Finalsite’s central web hub improves communication, collaboration, operations and workflow by seamlessly connecting administrators, parents, students, teachers and alumni through an integrated suite of desktop and mobile applications. Finalsite delivers a suite of best-in-class content management (CMS), admissions and enrollment, learning management (LMS), and data and analytics solutions in support of the entire student lifecycle.

“Finalsite’s commitment to technology innovation and superior client service underpins a longstanding track record of growth and success. It was a privilege to advise Spectrum Equity, Finalsite’s CEO Jon Moser, and the Finalsite management team on the transaction and we’re confident the Company has found an outstanding new partner in Bridge Growth,” said David Joncas, Managing Director with Aeris Partners.

“The EdTech market continues to evolve at a rapid pace. Schools face increasing pressure to attract and retain students, improve communications, and respond to changing technology demands. Finalsite’s solutions enable schools to efficiently engage students and parents and improve collaboration among faculty and administrators. The Finalsite solution suite is truly best-in-class,” said Rahul Swani, Principal with Aeris Partners.

About Finalsite
Finalsite's online learning and communications platform is utilized by over 1,500 schools and educational organizations across 70 countries and as many as 1 million unique users per day around the world. The platform manages all aspects of a school’s web presence and facilitates the distribution of digital content across school communities and in classrooms via a proprietary, SaaS-based software suite accessed through desktops and mobile devices. In addition, Finalsite's software enables customers to engage dynamically with a wide range of third party data providers including student information systems, learning systems and social media applications. Finalsite is based in Glastonbury, CT. For more information, please visit http://www.finalsite.com.

About Spectrum Equity
Spectrum Equity is a leading growth equity firm providing capital and strategic support to innovative companies in the information economy.  For more than 20 years, the firm has partnered with exceptional entrepreneurs and management teams to build long-term value in market-leading internet, software and information services companies.  Representative investments include Ancestry.com, Bats GlobalMarkets, Grubhub, lynda.com, GoodRx, SurveyMonkey, TeachersPayTeachers and Verafin.  For more information, please visit www.spectrumequity.com.

About Bridge Growth Partners
Bridge Growth Partners, LLC is a uniquely-structured, growth-oriented private equity firm that focuses on investments in the technology and technology-enabled financial services sectors. Bridge Growth was founded with the goal of bringing together significant investment, financial, operating, and strategic business building expertise and talent. For more information about Bridge Growth Partners, please visit www.bridgegrowthpartners.com.

About Aeris Partners
Aeris Partners provides premium strategic M&A advisory services to leading technology companies, private equity investors, and venture capital firms spanning the software, SaaS (Software-as-a-Service), business information, and technology-enabled sectors, and a range of high-growth market verticals including healthcare (HCIT), education (EdTech), financial technology (FinTech), architecture, engineering and construction (AEC), analytics, transportation, legal, and the public sector, among others. Aeris Partners leverages extensive technology domain expertise and an unparalleled commitment to delivering superior M&A outcomes on every transaction. The firm’s senior leadership team has successfully completed more than $18 billion of M&A advisory assignments to date. For more information, please visit www.aerispartners.com.

Aeris Partners Contact Information:
• David Joncas, Managing Director, (617) 751-4017, dwj@aerispartners.com
• Rahul Swani, Principal, (617) 751-4025, rs@aerispartners.com

Aeris Partners LLC is a registered broker-dealer and member of FINRA and SIPC

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Aeris Partners Advises Navicure on Strategic Investment by Bain Capital Private Equity / Aeris Press Release

Aeris Partners Advises Navicure, Industry-Leading Provider of Healthcare Revenue Cycle Management SaaS Solutions, on a Strategic Investment from Bain Capital Private Equity

BOSTON, MA (June 15, 2016) – Aeris Partners is pleased to announce Navicure, a leading provider of cloud-based revenue cycle management, patient payment, and analytics solutions to more than 90,000 healthcare providers throughout the U.S., has entered into a definitive agreement to receive a strategic investment from Bain Capital Private Equity, a leading global private investment firm. Navicure increases revenue, accelerates cash flow, and reduces costs for practice- and hospital-based healthcare providers by leveraging a best-in-class suite of revenue cycle management solutions designed to optimize revenue cycle speed, accuracy and automation.  Financial terms of the transaction were not disclosed.

Aeris Partners served as the exclusive M&A advisor to Navicure and JMI Equity. The transaction is expected to close in July 2016.

“Navicure’s cloud-based solutions are truly mission critical, especially in light of increased revenue cycle complexity, provider reimbursement trends, and an ongoing shift to value-based care. Navicure’s commitment to innovation, market leadership, and superior client service is driving strong growth and the Company is incredibly well positioned for the future. We’re excited for Jim Denny and the Navicure team, and believe Bain Capital will be an exceptional partner throughout the Company’s next phase of growth,” said David Joncas, Managing Director with Aeris Partners.

About Navicure
Navicure’s cloud-based healthcare claims management and patient payment solutions help healthcare organizations of all sizes increase revenue, accelerate cash flow, and reduce costs associated with managing insurance claims and patient payments. Serving more than 90,000 healthcare providers nationwide, Navicure’s technology solutions automate account receivables processes, including claims management; patient eligibility verification; remittance and denial management including automated secondary claims filing, appeals, and posting; reporting and analysis; and patient payment collections at and near the time of service. Navicure’s solutions are supported by its unique 3-Ring® Client Service which guarantees that a client service representative will answer every client call in three rings or less. Navicure is the exclusive billing and patient payment solution of the MGMA Executive Partner network. For more information, please visit http://www.navicure.com, or follow @Navicure on Twitter.

About Bain Capital Private Equity
Bain Capital Private Equity (http://www.baincapitalprivateequity.com) has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since their founding in 1984. Bain Capital’s team of more than 400 investment professionals creates value for their portfolio companies through their global platform and depth of expertise in key vertical industries including consumer/retail, financial and business services, healthcare, industrials, and technology, media and telecommunications. In addition to private equity, Bain Capital invests across asset classes including credit, public equity and venture capital, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus.

About Aeris Partners
Aeris Partners provides premium strategic M&A advisory services to leading technology companies, private equity investors, and venture capital firms spanning the software, SaaS (Software-as-a-Service), business information, and technology-enabled sectors, and a range of high-growth market verticals including healthcare (HCIT), financial technology (FinTech), architecture, engineering and construction (AEC), education (EdTech), analytics, transportation, legal, and the public sector, among others. Aeris Partners leverages extensive technology domain expertise and an unparalleled commitment to delivering superior M&A outcomes on every transaction. The firm’s senior leadership team has successfully completed more than $18 billion of M&A advisory assignments to date. For more information, please visit www.aerispartners.com.

Aeris Partners Contact Information:
• David Joncas, Managing Director, (617) 751-4017, dwj@aerispartners.com
• Stephen O’Leary, Managing Director, (617) 751-4023, sjo@aerispartners.com
• Derek Swaim, Managing Director, (617) 751-4014, dms@aerispartners.com

Aeris Partners LLC is a registered broker-dealer and member of FINRA and SIPC
 

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Aeris Advises Ecosys on Acquisition by Hexagon AB / Aeris Press Release

Aeris Advises Ecosys, a Leading Provider of Enterprise Project Controls Software, on Acquisition by Hexagon AB, and Continues Strong Software and SaaS M&A Advisory Momentum

BOSTON, Mass. (September 10, 2015) – Aeris Partners is pleased to announce that Hexagon AB (STO: HEXAB), a leading global provider of geospatial and industrial enterprise technology applications, through its U.S. subsidiary Intergraph Corporation, is acquiring EcoSys of Broomfield, CO, a leading provider of enterprise project controls (EPC) software and SaaS solutions. The transaction is expected to close following the completion of customary closing conditions. Aeris served as the exclusive sell-side M&A advisor to EcoSys.

EcoSys’ flagship solution, EcoSys EPC, helps leading Engineering & Construction, Oil, Gas & Chemical, Utilities, Aerospace & Defense, Government, and Transportation organizations manage some of the world’s most complex and capital intensive projects by improving project costs, project resource management, and all facets of project performance. Ecosys EPC supports the full spectrum of project control requirements, including budgeting and forecasting, progress measurement, performance and earned value management, workforce planning, data integration and reporting.

“EcoSys EPC addresses a critical need for comprehensive and configurable enterprise project controls software solutions. The combination of EcoSys’ extraordinary domain expertise, best-in-class project controls software, and strong sales and marketing execution have fueled the Company’s exceptional growth. We greatly enjoyed working with the EcoSys management team on this transaction,” said Derek Swaim, Managing Director at Aeris Partners.

“We are delighted that EcoSys and Hexagon have joined forces,” said Stephen O’Leary, Managing Director at Aeris Partners. “EcoSys and Hexagon share an entrepreneurial spirit and an unwavering commitment to serve industrial enterprises with solutions that harness the power of project data and analytics to enable cost control, business agility, and project optimization. We are proud to have advised the EcoSys founders on this transaction.”

About Aeris Partners

Aeris Partners provides premium strategic M&A advisory services to leading technology companies, private equity investors, and venture capital firms spanning the software, SaaS (Software-as-a-Service), business information, and technology-enabled services sectors, and across a range of high-growth industry verticals including healthcare (HCIT), financial technology (FinTech), architecture, engineering and construction (AEC), education (EdTech), analytics, transportation, legal, and government, among others. Aeris Partners leverages extensive technology domain expertise and an unparalleled commitment to delivering superior M&A outcomes on every transaction. The firm’s senior leadership team has successfully completed more than $18 billion of M&A advisory assignments to date. For more information, please visit http://aerispartners.com.

Contact Information:
• Stephen O’Leary, Managing Director, sjo@aerispartners.com
• Derek Swaim, Managing Director, dms@aerispartners.com
• David Joncas, Managing Director, dwj@aerispartners.com

Aeris Partners LLC is a registered broker‐dealer and member of FINRA and SIPC
 

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Aeris Advises On Center Software on Acquisition by Roper Technologies / Aeris Press Release

Aeris completes six architecture, engineering and construction (AEC) software M&A transactions in the past 16 months

BOSTON, Mass. (July 20, 2015) – Aeris Partners is pleased to announce On Center Software (“On Center”), a leading provider of construction automation software solutions to more than 40,000 users worldwide, has been acquired by Roper Technologies (NYSE: ROP), a leading provider of diversified technology, software and SaaS solutions. Aeris Partners served as the exclusive M&A advisor to On Center Software and Accel-KKR, and the transaction closed on July 20, 2015. Aeris has completed six architecture, engineering and construction (AEC) software M&A transactions since 2014.

“On Center Software is a true industry pioneer with a sterling reputation and brand, as evidenced by the Company’s strong growth, customer retention and customer satisfaction. The Company’s solutions help thousands of construction industry participants in more than 60 countries improve efficiency, increase revenue and reduce costs through improved automation, collaboration and workflow. The Company is ideally positioned at the center of the AEC lifecycle, and we’re delighted management has found such a great partner in Roper Technologies. It was an honor to advise On Center Software and Accel-KKR on the transaction,” said David Joncas, Managing Director with Aeris Partners.

About Aeris Partners
Aeris Partners provides premium strategic M&A advisory services to leading technology companies, private equity investors, and venture capital firms spanning the software, SaaS (Software-as-a-Service), business information, and technology-enabled sectors, and a range of high-growth market verticals including healthcare (HCIT), financial technology (FinTech), architecture, engineering and construction (AEC), education (EdTech), analytics, transportation, legal, and government, among others. Aeris Partners leverages extensive technology domain expertise and an unparalleled commitment to delivering superior M&A outcomes on every transaction. The firm’s senior leadership team has successfully completed more than $17 billion of M&A advisory assignments to date. For more information, please visit http://aerispartners.com.

Contact Information:
• David Joncas, Managing Director, dwj@aerispartners.com
• Stephen O’Leary, Managing Director, sjo@aerispartners.com
• Derek Swaim, Managing Director, dms@aerispartners.com

Aeris Partners LLC is a registered broker‐dealer and member of FINRA and SIPC

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Aeris Completes More Than $1.0 Billion of Tech M&A Transactions / Aeris Press Release

Aeris Continues Strong Software and SaaS M&A Advisory Momentum

CAMBRIDGE, Mass. (December 19, 2014) – Aeris Partners, a leading independent technology M&A advisory firm, announced record momentum and the completion of more than $1.0 billion of technology M&A advisory assignments. Aeris leverages extensive industry domain expertise and an unparalleled commitment to delivering superior M&A outcomes, including exceptional valuations, transaction terms and close rates. The firm advises market leading application, infrastructure and analytical software, SaaS (Software-as-a-Service), business information, and technology-enabled services companies spanning a range of high-growth market sectors, including healthcare IT (HCIT), financial technology (FinTech), construction software, education software, and public sector software, among others.

Representative M&A transactions led by Aeris include:
• Acquisition of iSqFt and BidClerk, leading providers of construction software, SaaS and business information, by Genstar Capital;
• Acquisition of FiveCubits, a leading SaaS provider of fleet management and supply chain software, by Command Alkon;
• Acquisition of Axium, a leading provider of A&E project management software, by Deltek;
• Acquisition of GatewayEDI, a leading SaaS provider of HCIT revenue cycle management solutions, by TriZetto.

“We founded Aeris with the goal of delivering truly exceptional M&A valuations, transaction terms and close rates. Clients value our committed, hands-on approach, and above all, the outcomes we deliver,” said David Joncas, Managing Director.

“We’re very excited about the firm’s momentum. We’ve been fortunate to advise world-class investors and management teams, and our ability to leverage deep technology domain expertise has been a powerful differentiator,” noted Stephen O’Leary, Managing Director.

About Aeris Partners
Aeris Partners, a premier information technology M&A advisory firm, advises high growth, market-shaping technology companies spanning the Software, SaaS, Business Information and Technology-Enabled Services sectors. Aeris Partners combines extensive industry domain expertise, senior level attention and a commitment to flawless execution to deliver exceptional M&A close rates and outcomes. The firm’s senior leadership team has successfully completed more than $17 billion of M&A advisory assignments to date. For more information, please visit http://aerispartners.com.

Contact Information:
• David Joncas, Managing Director, dwj@aerispartners.com
• Stephen O’Leary, Managing Director, sjo@aerispartners.com
• Derek Swaim, Managing Director, dms@aerispartners.com

Aeris Partners LLC is a registered broker-dealer and member of FINRA and SIPC

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Aeris Advises iSqFt and BidClerk on Acquisition by Genstar Capital / Client Press Release

Aeris Partners Serves as the Exclusive Sell-Side Advisor to iSqFt and BidClerk

Chicago, IL and Cincinnati, OH (October 6, 2014) — BidClerk and iSqFt have announced that they have finalized and closed a transaction that merges the two fastest-growing, most innovative SaaS companies in the commercial construction software segment. The combined company will result in the new iSqFt offering a unique array of products and services, allowing construction companies to take control, network, and grow their businesses.

Dave Conway, CEO of the combined company, is excited to bring together a great team, leading-edge technology, and the industry’s best data. “There’s never been a combination like this. Together we can offer our customers the industry’s best network and most actionable project data with technology that lets customers use the information and data in new and incredibly useful ways.”

Conway explains that the merger makes perfect sense because each company’s strengths are so complementary to the other.

iSqFt’s general contractors are able to access the largest national database of subcontractors, and streamline their entire bidding process. Subcontractors get access to more projects, more general contractors, and better productivity tools. Building product manufacturers, suppliers, and distributors find information and tools that allow them to proactively create new relationships and sales opportunities. And all of iSqFt’s customers are connected by iSqFt’s proprietary network, which makes it easy to connect, communicate, and work more efficiently.

BidClerk offers construction data coverage in both the United States and Canada that connects building product manufacturers and construction professionals to key project participants. Using proprietary research methods that have created relationships with thousands of architects, engineers, general contractors, municipalities, and governmental agencies, BidClerk is able to provide complete visibility of the project lifecycle, from planning stages to bidding to completion, using a unique set of tools and advanced analytics.

The focus of the new iSqFt, with the combined strengths of both companies, will be to connect professionals with business opportunities throughout the planning and bidding construction process to help their businesses grow.

“The real winners here will be our customers,” says Mike Gaynor, CEO of BidClerk. “The merger of BidClerk and iSqFt is going to bring unprecedented advantages to the construction industry starting right now. Together, we’re going to change how our industry gets the job done.”

Johnathan Ivey, Senior Vice President Sales & Marketing with Atlas Sound, is excited at the prospect of iSqFt and BidClerk joining forces. “I’ve been very happy with iSqFt,” says Ivey, “but I’ve seen BidClerk and liked that they included planning projects, and analytics with data visualization. I can see how the combination of these two companies will create larger and more diverse project opportunities, both public and private. This will be really good.”

The merger is a result of a growth equity investment provided by Genstar Capital, LLC, a leading middle-market private equity firm with a history of investing in vertically-specialized SaaS and information services companies.

“Given the complementary nature of the two companies,” said Eli Weiss, a Principal at Genstar, “we believe that the combined organization will be able to accelerate its revenue growth while offering its customers a unique set of solutions. Genstar is excited to support this management team for future add-on acquisitions to add to the technology offerings of this platform company.”

Aeris Partners acted as the exclusive financial advisor to iSqFt and BidClerk.

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About iSqFt
Cincinnati, Ohio-based iSqFt is a leading software-as-a-service company, serving the commercial construction industry by offering its customers access to a network that connects tens of thousands of general contractors, subcontractors, suppliers, and manufacturers. iSqFt helps its customers thrive by offering the information and tools they need to work more efficiently and profitably. For more information about iSqFt and its applications, visit isqft.com or follow us on Facebook, LinkedIn, and Twitter.

About BidClerk
Headquartered in Chicago, BidClerk is a leading provider of construction data in the United States and Canada. For over a decade, the Company has connected construction professionals with opportunities at various stages of the construction process. Proprietary research methods have created relationships with thousands of architects, engineers, general contractors, municipalities and governmental agencies. BidClerk provides unique tools that give subscribers visibility of the project lifecycle, from planning stages to bidding to completion. For more information about BidClerk, please visit www.bidclerk.com.

About Genstar Capital Management, LLC
Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for more than 20 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of operating executives and strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar manages funds with total capital commitments of over $3 billion and targets investments focused on selected sectors within the industrial technology, financial services, software, and healthcare industries.

Source: iSqFt and BidClerk

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Aeris Advises iModules Software on Acquisition by Leeds Equity Partners / Client Press Release

Aeris Partners Serves as the Exclusive Sell-Side Advisor to iModules Software

Leawood, KS (PRWEB) October 14, 2014 — iModules Software, headquartered in Leawood, Kansas, announced today that Leeds Equity Partners, LLC, the New York-based private equity firm focused exclusively on investing in the knowledge industries, has acquired the company. iModules was advised in the transaction by Aeris Partners, a leading information technology M&A advisory firm.

Founded in 2002, iModules Software is the leader in Constituent Engagement Management software for educational institutions and serves more than 800 clients reaching more than 100 million constituents worldwide.

“iModules has built a successful, impactful business because they understand the intricacies of the educational advancement market,” said Robert A. Bernstein, Senior Managing Director and Co-Founder of Leeds Equity Partners. “We look forward to helping them continue to deliver an industry-leading solution that helps institutions meet their increasingly complex challenges.”

iModules’ President, Fred Weiss said, “Leveraging the expertise, strategic insight, and resources of Leeds Equity Partners will bolster the growth and innovation trajectory of iModules. Our clients will benefit through increased investment and our management team is excited to work with the Leeds team.”

“Our passion is funding and promoting the knowledge sector. iModules’ ability to enhance productivity through innovation is perfectly in step with our mission,” said Jacques V. Galante, Managing Director of Leeds Equity Partners.

iModules’ co-founder and Executive Chairman, Tom Palmer adds, “This transaction represents a significant milestone for iModules. We now have in place institutional sponsorship with deep knowledge and resources to support iModules’ continued growth.”

The company reports that the existing executive management team will remain in place. Details of the transaction have not been released.

About iModules Software

iModules is the leading online Constituent Engagement Management provider for educational institutions. Their interconnected suite of modules transforms how institutions create relevant constituent experiences and achieve fundraising success through web content management, marketing communications, online giving, event management, ecommerce, and social media integration. iModules integrates data, content, and strategy to drive participation and financial growth, while increasing operational efficiency. Their expertise and exceptional customer service combined with a passion for web technology delivers meaningful results in marketing communications, giving, memberships, and stewardship for educational institutions. With more than 800 clients reaching more than 100 million constituents, iModules has been an industry leader since 2002 by partnering with institutions worldwide to achieve their missions.

About Leeds Equity Partners

Leeds Equity Partners, LLC, is a New York-based private equity firm focused exclusively on investing in the education, training and information services industries (the “Knowledge Industries”). The firm was founded by Jeffrey T. Leeds and Robert A. Bernstein in 1993 and has raised and managed more than $1.1 billion of capital across five funds. The Board of Advisors of Leeds Equity Partners includes, among others: Chairman General Colin L. Powell, former Secretary of State, National Security Advisor, and Chairman of the Joint Chiefs of Staff; Dr. Barry A. Munitz, former Chancellor of the California State University school system and CEO of the J. Paul Getty Trust; Thomas F. (“Mack”) McLarty III, President of McLarty Associates and former White House Chief of Staff under President William J. Clinton; Dr. Rod R. Paige, former Secretary of Education under President George W. Bush; Richard W. Riley, former Secretary of Education under President William J. Clinton and two-term Governor of South Carolina; Tim J. Fitzpatrick, the former CEO of Sallie Mae Corporation; and Timothy P. Shriver, Chairman of the Board of the Special Olympics. Learn more at www.leedsequity.com.

About Aeris Partners

Aeris Partners is a premier information technology M&A advisory firm focused on high growth, market-shaping M&A transactions spanning the Software, SaaS, Digital Media and Technology-Enabled Services sectors. Aeris Partners combines extensive technology industry domain expertise and a commitment to flawless execution with the objective of delivering superior transaction results. The firm’s senior leadership team brings more than 75 years of M&A advisory, investing and technology industry experience, and has completed more than 160 technology M&A advisory transactions valued in excess of $17 billion in aggregate. Aeris Partners LLC is a registered broker-dealer and member of FINRA and SIPC.

Source: iModules Software

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Aeris Advises FiveCubits on Acquisition by Command Alkon / Client Press Release

Aeris Partners Serves as the Exclusive Sell-Side Advisor to FiveCubits

Birmingham, Alabama (August 11, 2014) - Command Alkon Incorporated, the global leader in integrated solutions for the construction materials industry, is pleased to announce the acquisition of FiveCubits Inc., resulting in “FiveCubits, a division of Command Alkon”.

“The FiveCubits team has developed a very successful business model and will continue to maintain the same high quality of products and services to their customers going forward as a part of the Command Alkon family,” said Phil Ramsey, President and CEO of Command Alkon.

“We are thrilled to join Command Alkon,” said Rob Getz, Vice President and General Manager for FiveCubits. “In joining forces with Command Alkon, we are excited about the many integrated solutions that we can offer to our joint customers to meet the evolving needs of the industry.”

FiveCubits has offices in Illinois, Utah, and California. They are the leading provider of SaaS based fleet management and mobile computing solutions for the ready mix, bulk materials, trucking and hauling, and construction contractor industries. The FiveCubits team will continue to support all FiveCubits products, including TrackIt, HaulIt, SupplyIt, and BuildIt.

John Jazwiec, former CEO of FiveCubits, will serve as an advisor on Command Alkon’s board of directors and brings many years of entrepreneurial and industry experience to Command Alkon. “The acquisition of FiveCubits as a division of Command Alkon is a significant milestone for Command Alkon and further strengthens our commitment to evolving technologies and integrated solutions for the industry,” said Phil Ramsey. “The FiveCubits team has a proven track record of customer service and innovation which are shared common values with Command Alkon. We welcome the employees of FiveCubits to our family and are excited to be working together.”

Command Alkon is headquartered in Birmingham, Alabama with offices in Colombia, Brazil, the United Kingdom, France, the Netherlands, India, Malaysia, Australia, and throughout North America. Command Alkon has been a long-term financially stable provider committed to its customers in the construction material industry for over 38 years.

Source: Command Alkon and FiveCubits

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Aeris Advises Axium on Acquisition by Deltek / Aeris Press Release

Aeris Partners Continues Strong Momentum in Strategic Software M&A Advisory

CAMBRIDGE, Mass. (June 4, 2014) – Aeris Partners is pleased to announce that Axium, a leading provider of integrated accounting and project management solutions to more than 2,200 architecture & engineering (A&E) firms, has been acquired by Deltek, the leading global provider of enterprise software and information solutions for project-based businesses. The acquisition of Axium strengthens Deltek’s market leadership and extends Deltek’s reach into the largest segment of the A&E industry within North America, namely firms with fewer than 250 employees. Aeris Partners served as the exclusive strategic M&A advisor to Axium. The transaction closed on June 3, 2014.

“We’re very excited that Axium and Deltek have joined forces,” said David Joncas, Managing Director with Aeris Partners. “Axium and Deltek share an unwavering commitment to the A&E industry, to product innovation, and to delivering world-class customer support, and we’re proud to have advised Axium on the transaction.”

“Axium has built a leading, integrated project management and accounting platform to improve the efficiency, visibility, and profitability of A&E firm operations,” said Derek Swaim, Managing Director with Aeris Partners. “Axium’s customers will be well-served going forward and the combination underscores a strong, ongoing commitment to providing leading solutions for A&E firms of all sizes.” 

About Axium
Axium provides Ajera™, an integrated project management and accounting software solution designed specifically for the needs of the architecture & engineering market. More than 2,200 A&E firms across North America rely on Axium Ajera. Axium is located in Portland, Oregon and has been voted to Oregon Magazine's "Top 100 Companies to Work For" each of the last six years.

About Deltek
Deltek is the leading global provider of enterprise software and information solutions for professional services firms and government contractors. For decades, Deltek has delivered actionable insight that empowers its customers to unlock their business potential. 16,000 organizations and 2 million users in over 80 countries around the world rely on Deltek to research and identify opportunities, win new business, optimize resources, streamline operations, and deliver more profitable projects.
About Aeris Partners
Aeris Partners is a premier information technology M&A advisory firm focused on high growth, market-shaping M&A transactions spanning the Software, SaaS, Digital Media and Technology-Enabled Services sectors. Aeris Partners combines extensive industry domain expertise and a commitment to flawless execution to deliver exceptional transaction outcomes. The firm’s senior leadership team has completed more than 160 M&A advisory transactions valued in excess of $17 billion. For more information, please visit http://aerispartners.com.

Contact Information:
• David Joncas, dwj@aerispartners.com
• Derek Swaim, dms@aerispartners.com
• Stephen O’Leary , sjo@aerispartners.com

Aeris Partners LLC is a registered broker-dealer and member of FINRA and SIPC

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Aeris Advises Emmi Solutions on Acquisition by Primus Capital / Aeris Press Release

Aeris Partners Continues Strong Momentum in Healthcare IT and SaaS M&A Advisory

CAMBRIDGE, Mass. (January 17, 2013) – Aeris Partners is pleased to announce that Emmi Solutions, the leader in outcomes-driven patient engagement, has received a significant growth investment from Primus Capital Funds. Aeris Partners served as the exclusive strategic M&A advisor to Emmi Solutions. The transaction closed on December 21, 2012.

“Emmi is redefining the healthcare industry’s approach to patient engagement and increasing health literacy through an innovative, multi-modal platform that combines voice, image, text and interactivity. Emmi’s ability to prescribe, track and document patient engagement interactions across the continuum of care, and integrate with 3rd party health information systems and patient portals, helps healthcare providers and payers increase revenue, reduce costs and improve clinical outcomes. We believe Emmi is well positioned and will play a critical role as the industry transitions from fee-for-service to value-based care delivery,” said David Joncas, Managing Director with Aeris Partners.

About Emmi Solutions
Emmi Solutions is the pioneer of outcomes-driven patient engagement. Emmi offers a complete solution that engages patients and has repeatedly shown that it can improve clinical and financial outcomes. Emmi uses a multi-modal platform to deliver actionable information to patients while supporting the goals of traditional and emerging models of care. Emmi programs have been prescribed to over four million patients – using language they understand, at their convenience, and on devices they already own. Emmi enables providers to track compliance and measure the outcomes of effective patient engagement. For more information, visit http://www.emmisolutions.com. Follow us on Twitter and find us on Facebook.

About Primus Capital
Primus Capital is a private equity firm that invests in high-growth companies within the healthcare, software, technology-enabled services, and education industries.  Founded in 1983 and currently investing Primus Capital Fund VII, Primus has invested in over 100 growth companies. Transaction types include buyouts, recapitalizations and growth equity investments. For more information, please visit http://www.primuscapital.com.

About Aeris Partners
Aeris Partners is a premier information technology M&A advisory firm focused on high growth, market-shaping M&A transactions spanning the Software, SaaS, Digital Media and Technology-Enabled Services sectors, including Healthcare IT (HCIT). Aeris Partners combines extensive industry domain expertise and a commitment to flawless execution to deliver exceptional transaction outcomes. The firm’s senior leadership team leverages a combined 50 years of M&A advisory, investing and technology industry experience, and has completed M&A advisory transactions valued in excess of $15 billion. For more information, please visit http://aerispartners.com.

Contact Information:
• David Joncas, dwj@aerispartners.com
• Stephen O’Leary, sjo@aerispartners.com

Aeris Partners LLC is a registered broker-dealer and member of FINRA and SIPC

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Aeris Advises Gateway EDI on Acquisition by Trizetto / Aeris Press Release

Aeris Partners served as exclusive financial advisor to Gateway EDI.

CAMBRIDGE, Mass. - Aeris Partners is pleased to announce Gateway EDI, Inc., one of the nation’s largest and fastest growing providers of Software-as-a-Service (“SaaS”) revenue cycle management solutions to healthcare providers, has been acquired by The TriZetto Group, Inc.

Aeris Partners served as exclusive financial advisor to Gateway EDI. The transaction closed on February 18, 2011.

“Gateway EDI has established an exceptional track record of success fueled by an intense focus on technology innovation and customer service, and the Company is indispensable to healthcare providers seeking greater efficiency and transparency into the revenue cycle management process. We believe Gateway EDI has found an outstanding strategic partner in TriZetto and we sincerely enjoyed working with the Gateway EDI team again,” said David Joncas, Managing Director with Aeris Partners.

About Gateway EDI

Founded in 1983, Gateway EDI, Inc. is one of the nation’s largest independent providers of revenue cycle management solutions to physicians and healthcare providers. The Company’s market-leading SaaS solutions improve healthcare provider cash flow by optimizing and expediting all aspects of the revenue cycle management process. Gateway EDI is owned by management, employees and ABRY Partners.

About The TriZetto Group

The TriZetto Group is a leading provider of healthcare information technology solutions to the healthcare payer industry, with solutions touching half of the U.S. insured population. The Company’s offerings include enterprise and component software, IT outsourcing and business process outsourcing services that help payers enhance revenue growth, efficiency and quality of care. The TriZetto Group is a portfolio company of Apax Partners.

About Aeris Partners

Aeris Partners is a premier information technology M&A advisory firm focused on high growth, market-shaping M&A transactions spanning the Software, SaaS, Digital Media and Technology-Enabled Services sectors, including Healthcare IT (HCIT). Aeris Partners combines extensive industry domain expertise and a commitment to flawless execution to deliver exceptional transaction results. The firm’s senior leadership team brings a combined 45 years of M&A advisory, investing and technology industry experience, and has completed more than 150 M&A advisory transactions in excess of $15 billion. 

Contact Information:
·      David Joncas, dwj@aerispartners.com
·      Stephen O’Leary, sjo@aerispartners.com

Aeris Partners LLC is a registered broker-dealer and member of FINRA and SIPC

More