has raised capital from
Transactions
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January 2021
has raised capital from
Undisclosed
Transaction Summary
- On December 24th, 2020, Bain Capital Tech Opportunities and HGGC announced their significant strategic investment in leading construction management software vendor Buildertrend
- Founded in 2006 by brothers Steve and Jeff Dugger, and friend Dan Houghton, Buildertrend’s platform was developed with a vision to disrupt the construction industry by standardizing scheduling and workflows, handling payments, purchase and change orders, and improving customer communication and visibility. This first institutional investment will accelerate Buildertrend’s growth and expand the services it currently provides to more than 16,000 homebuilding, remodeling, and specialty construction businesses
- “It was a huge decision for us to bring in an investor and partner for the first time and the Spurrier team was critical to our success in finding the best outcome,” said co-Founder, Dan Houghton. “They’ve helped us over the past few years to develop the right relationships and navigate interest from a variety of folks, some of which became great commercial partners. Now we’re thrilled to partner with the team at Bain Capital to accelerate our efforts in the next phase of the Company.”
- “We knew this would be a competitive process, but SCP’s work and facilitation made it easier to get to the right answers,” said Phil Meicler, a Managing Director at Bain Capital Tech Opportunities. “We were impressed with how the SCP team acted as a partner to drive an optimal outcome for all parties.”
- “SCP ran a smooth diligence process that allowed us and our advisors to get into a winning position,” added Scott Kirk, a Partner at Bain Capital Tech Opportunities. “Their knowledge of the business and the sector helped us forge a strong partnership with the Buildertrend management team and aligned vision on the growth of the business.”
- Clark Spurrier, Founder and CEO of Spurrier Capital Partners emphasized, “The Buildertrend transaction underscores SCP’s deep commitment to partnering with great companies and supporting them with their continued success. There is a massive market opportunity in residential construction tech that the Bain Capital Tech Opportunities and Buildertrend teams are excited to tackle together, and we are so grateful for the opportunity to work with them on this outcome. We are eager to see Buildertrend execute on this opportunity in its next chapter and look forward to working with each of these parties soon.”
- This transaction represents SCP’s thirteenth transaction in vertical software
December 2020
has acquired
Undisclosed
Transaction Summary
- On December 14th, 2020, Liberty Hall Capital Partners, closed its acquisition of leading operational content and compliance management solutions provider Comply365, a Luminate Capital Partners portfolio company
- Comply365 offers a 100% SaaS platform to facilitate collaborative execution across the entire operational and compliance document lifecycle. The Company provides document authoring management and creation, compliance tracking, workflow management, and document distribution currently focused on the Aviation and Rail end-markets. Comply365 is based in Beloit, WI, and was previously backed by Luminate Capital Partners.
- “The team at SCP was an integral part of our process,” said Rowan Taylor, Liberty Hall’s founding and Managing Partner. “Their extensive experience with every aspect of a software transaction, including typical terms and process specifics, helped ensure an organized and efficient process that achieved an optimal outcome for all parties.”
- “SCP’s detailed knowledge of SaaS business models and economics was critical to executing a successful transaction,” stated Jack Nadal, Partner at Liberty Hall. “This knowledge allowed us to fully appreciate the magnitude of this opportunity and focus our diligence on critical issues.”
- “We were incredibly excited to partner with the Liberty Hall team on this process,” noted Clark Spurrier, Founder and CEO of Spurrier Capital Partners. “This transaction bolsters SCP’s leadership position in the Vertical Application, Compliance, and Content Management Software categories. We are grateful to have had the opportunity to work with Liberty Hall, Comply365, and Luminate Capital Partners.”
- “This announcement is an exciting development in the Compliance and Knowledge Management sectors,” said Griffin Bealle, Director at Spurrier Capital Partners. “This validates the notion that digitalizing the creation, delivery and compliance-tracking of critical operational content is increasingly important in the transportation sector. We look forward to watching Comply365 continue to expand its leadership position with Liberty Hall as a partner.”
- This transaction represents SCP’s twelfth transaction in vertical software
October 2020
has been acquired by
Undisclosed
Transaction Summary
- On October 14th, 2020, Nintex, a Thoma Bravo, TA Associates, and Updata Partners portfolio company, closed its acquisition of leading low-code digital process automation platform K2 Software, a portfolio company of Francisco Partners, FTV Partners, and Azure Capital Partners
- The compelling combination of Nintex’s strength among business users seeking low-code solutions with K2’s proven track record for professional developers pursuing mission-critical Digital Process Automation initiatives represents an exciting combination of leading innovators in the Process Automation market. The parties’ complementary features will benefit both customer bases, with Nintex customers now able to take advantage of K2’s SmartObjects integration capabilities, and K2 customers now having access to Nintex’s Process Mapping, Robotic Process Automation, Document Generation, and more
- “The team at Spurrier Capital Partners was an integral part of this process and has enthusiastically supported our business across numerous strategic initiatives,” stated Evan Ellis, CEO of K2. “Their deep understanding of K2’s value proposition and strategic roadmap, as well as the Low-Code / Process Automation market, enabled them to find a strategic partner who shares our vision for the future.”
- “SCP’s deep domain expertise, strong buyer knowledge, and excellent execution capabilities were crucial in achieving a successful outcome,” said Brian Decker, Partner at Francisco Partners. “SCP led a highly curated and focused process, facilitating this partnership between K2 and Nintex to provide enhanced value to customers.”
- “SCP’s attention to detail in diligence helped us evaluate the company quickly, and their constructive approach to structuring the transaction allowed us to strike an agreement that worked for all parties,” commented Hudson Smith, Partner at Thoma Bravo. “We were impressed with the work that the entire SCP team put forward throughout the process.”
- “The K2 transaction highlights SCP’s domain expertise in Low-Code / Process Automation, representing our sixth transaction in the sector,” stated Clark Spurrier, Founder and CEO of Spurrier Capital Partners. “We are grateful to have had the opportunity to work with each of the parties involved in this transaction, particularly given that we have now worked with Francisco Partners, Nintex, TA Associates, and Updata Partners multiple times.”
- This transaction represents SCP’s fifth transaction in low-code / process automation
January 2020
has been acquired by
Undisclosed
Transaction Summary
- On January 7th, 2020, Accel-KKR closed its acquisition of leading public sector-focused ERP and payments management platform Springbrook, a subsidiary of Accela, a Berkshire Partners portfolio company
- Springbrook’s ERP platform offers a comprehensive set of modules across Utility Billing and Finance / HR, and seamlessly integrates Utility Billing modules with its multi-channel government Utility Payments solution, delivering a full spectrum Utility Management solution for local governments.
- “The team at Spurrier Capital Partners was an essential part of the process and helped us achieve an exceptional outcome for Springbrook,” stated Max Schnoedl, CEO of Springbrook. “SCP demonstrated a very strong understanding of the Company and the Local Government Software market as a whole, enabling them to connect us with the best partner who shares our vision going forward.”
- “SCP curated a bespoke and highly efficient process that allowed the Springbrook team to both maximize value and partner with an experienced and market-leading firm,” stated Tom Kuo, Managing Director at Berkshire Partners. “SCP’s deep domain expertise and execution capabilities were crucial in achieving this excellent result, and we look forward to partnering with their team again.”
- “SCP’s coordination with management and knowledge of the business allowed us to easily recognize the strategic value of the Springbrook asset,” commented Dean Jacobson, Managing Director at Accel-KKR. “We were delighted with the work that the entire SCP team put forward throughout the process. Their deep industry knowledge and dedication to the process facilitated an exciting transaction for all parties.”
- “The Springbrook deal highlights SCP’s domain expertise in Government Software. This transaction represents our fourth deal in the sector, and displays our commitment to achieving the best outcome for all parties,” stated Clark Spurrier, Founder and CEO of Spurrier Capital Partners. “We are excited to have had the opportunity to work with Springbrook, Accela, Berkshire Partners, ABRY Partners, and Accel-KKR on this transaction, and are thrilled with the result.”
- “This announcement represents a transformative development not only for the parties involved, but also for the Local Government Software market as a whole,” stated Griffin Bealle, Director at Spurrier Capital Partners. “Municipalities and special districts prefer an integrated platform, and Springbrook’s compelling combination of mission-critical ERP and next-generation Payments delivers on this demand. We are eager to see Springbrook execute on this opportunity in its next chapter as an independent company.”
- This transaction represents SCP’s fourth transaction in government software
November 2019
has been acquired by
Undisclosed
Transaction Summary
- On November 8th, 2019, Brighton Park Capital closed its acquisition of leading Patient Engagement Platform Relatient
- “I was excited to partner with SCP on this transaction. I have now had the opportunity to work with Clark and the team as both a Board Member (Unanet growth investment from JMI Equity) and now as CEO and have been thoroughly impressed by their extensive domain expertise, deep relationships and outstanding execution capabilities,” stated Michele Perry, CEO of Relatient. “SCP’s deep understanding of our business and the overall Patient Engagement market enabled them to appropriately message our unique differentiation to all interested parties and drive an amazing outcome for the Company’s shareholders.”
- “Elsewhere Partners is proud to have partnered with Michele and the team at Relatient. The Company has grown tremendously in the short time since Elsewhere has been an investor, and we are extremely pleased with the outcome that SCP has achieved for the team and investors,” commented John Thornton, Co-Founder & Partner at Elsewhere Partners. “SCP’s commitment to Relatient, knowledge of the industry and execution capabilities in the Company’s sale were instrumental in solidifying this superb outcome.”
- “It has been truly rewarding to watch Relatient grow from an early stage Company into the category leader it is today,” said Jim Sohr, Founder and Chairman of Powered Health and one of Relatient’s earliest investors. “SCP ran an extremely efficient process and achieved a great outcome for shareholders and the Company. I am looking forward to tracking Relatient’s continued market leadership under Brighton Park’s ownership.”
- “After driving a successful outcome for Michele on Unanet, we were thrilled to do the same for her on Relatient,” said Clark Spurrier, Founder and CEO of Spurrier Capital Partners. “SCP was very excited to have served as an integral part of the next phase of Relatient’s journey. We were excited to capitalize on our recent successes with Verity and Valant as we further cement our leadership position in the Healthcare Technology sector.”
- “Relatient’s comprehensive patient engagement platform enables providers to improve communication, productivity and ultimately deliver better patient care,” said Derek Ritchea, Director at Spurrier Capital Partners. “We couldn’t be happier for Michele, Patrick and the entire Relatient team as they begin their relationship with Brighton Park Capital. This partnership and additional growth investment will strengthen Relatient’s market leading position and enable the Company to continue their rapid growth in the Patient Engagement sector.”
- Relatient has been named as the 2019 Category Leader for Patient Outreach by KLAS®, the industry leader in evaluating healthcare IT and technology vendors
- The Company, based in Franklin, TN, was previously backed by Elsewhere Partners, Powered Health and other private investors
- SCP acted as the exclusive financial advisor to Relatient
October 2019
has sold key assets to
Undisclosed
Transaction Summary
- On October 23rd, 2019, ServiceNow announced its acquisition of key assets of leading cognitive search provider Attivio
- “What really set SCP apart from other investment banks was their knowledge of the market and their connections to strategic buyers,” said Stephen Baker, Attivio CEO. “Over the course of the relationship between SCP and Attivio, they have been a trusted partner in helping us with positioning, introductions to partners, and advice on our capital and strategic options.”
- “SCP constructed a custom process that allowed us to maximize value with a market-leading strategic partner,” stated Peter Lee, Chairman of Attivio. “We had complete confidence in SCP as an advocate for Attivio and the investors, and their market insight and creativity were critical to facilitating the right structure for the deal with ServiceNow.”
- “Pairing best-in-class private companies with the top strategic acquirers is at the core of what we do at SCP,” noted Clark Spurrier, Founder and CEO of Spurrier Capital Partners. “Having executed transactions with other IT incumbents such as Google, IBM, GE, Oracle, and Accenture, we were thrilled to work with another pioneer in ServiceNow on this acquisition. This announcement solidifies our leading position in Data Management, representing our seventh transaction in the category.”
- “This announcement is an exciting development for the Enterprise Search industry,” said Griffin Bealle, Director of Spurrier Capital Partners. “This validates the notion that search is an increasingly critical capability in delivering an excellent customer experience, while also enabling users to access troves of unstructured data. We look forward to seeing how ServiceNow can leverage these newly-acquired capabilities to augment its already formidable platform.”
- This transaction represents SCP’s seventh transaction in the data management space
October 2019
has been acquired by
Undisclosed
Transaction Summary
- On October 1st, 2019, Express Scripts, a Cigna company, announced its acquisition of leading 340B software provider Verity Solutions
- “Through their deep healthcare knowledge, hands-on partnership approach and unwavering commitment throughout the process, Derek and the team at Spurrier Capital Partners became indispensable members of the Verity team and the ideal partner for us during the most important time in our Company’s history,” stated George Puckett, President & CEO of Verity Solutions. “SCP’s deep understanding of our business and the market overall enabled them to articulate the profound opportunity for Verity’s differentiated solutions to drive mission-critical savings to health systems while seeking the ideal partner that would help us best serve our clients, partners and employees for the foreseeable future.”
- “From a CFO’s perspective, you cannot select a better advisor than SCP,” said Jon Sortland, CFO of Verity Solutions. “They made the entire process smooth and seamless, and the SCP team did much of the detailed work required in a transaction of this magnitude. SCP truly lived up to their commitment of providing a ‘Consigliere Approach’ in guiding us to a successful outcome.”
- “Clark, Derek and the entire SCP team were tremendous to work with throughout the process. Their relationships across the industry and world-class execution enabled Verity and our shareholders to achieve a successful outcome,” noted Richard Fade, Partner at Ignition Ventures.
- “Verity’s comprehensive pharmacy compliance platform facilitates safety-net hospitals realizing mission critical savings. Their solutions are enabling health systems to care for the most vulnerable populations across the country,” said Derek Ritchea, Director at Spurrier Capital Partners. “We couldn’t be happier for George, Jon and the entire Verity team as they partner with Express Scripts to more effectively and comprehensively support the needs of their hospital and health system clients.”
- Clark Spurrier, Founder and CEO of Spurrier Capital Partners emphasized, “The Verity transaction underscores SCP’s deep commitment to Healthcare Technology and is instrumental in the continued growth of our HCIT franchise. We are very grateful for the opportunity to work with the Company on this amazing outcome.”
- The Company, based in Kirkland, WA, was formed as an independent entity in 2015 and was backed by Ignition Partners and OVP Venture Partners
- This deal represents SCP’s fifth transaction in the Seattle area in the past 18 months
- SCP acted as the exclusive financial advisor to Verity Solutions
June 2019
has raised capital from
Undisclosed
Transaction Summary
- On June 11th, 2019, JMI Equity announced its strategic growth investment in leading Project-Based ERP Provider Unanet
- “SCP’s patient and tailored approach allowed us to appropriately react to the continual interest we were receiving, and to be fully prepared when the investment process began,” stated Fran Craig, Founder and CEO of Unanet. “Their understanding of our competitive position and fit with prospective investors helped us find an exceptional partner for Unanet’s next stage of growth.”
- “SCP’s hands-on approach ensured that Unanet was ready for every step of the process and allowed management to focus on growing the business,” said Dave Greenberg, General Partner at JMI Equity. “This was JMI’s fourth transaction with SCP. As we have come to expect, they ran an organized and efficient process that ensured the optimal outcome for all parties.”
- “We were delighted to partner with the Unanet management team on this process,” said Clark Spurrier, Founder and CEO of SCP. “This transaction reflects our focus on working with founder-owned software vendors. As a founder myself, I know the challenges of starting a business, so we were thrilled to play a small role in seeing Fran continue to execute on her vision for Unanet. Further, this transaction bolsters SCP’s leadership position in Vertical SaaS and with vendors who operate within the Government Services ecosystem. Our team’s domain expertise and tailored approach have delivered another excellent outcome for one of our clients.”
- Founded in 1998, Unanet was bootstrapped and led by Top 50 SaaS CEO Fran Craig
- This was SCP’s fourth transaction with JMI
- SCP acted as the exclusive financial advisor to Unanet
April 2019
has been acquired by
Undisclosed
Transaction Summary
- On April 9th, 2019, Gemspring Capital announced its acquisition of leading Behavioral Health EMR and Practice Management Software provider Valant
- “From day one, SCP developed a comprehensive understanding of Valant’s business, differentiated market position, and unique growth opportunities,” stated David Lischner, Co-Founder and CEO of Valant. “SCP’s knowledge of the sector combined with their broad buyer relationships enabled an efficient process that allowed our team to focus on operating the business.”
- “Spurrier Capital Partners ran a tight, coordinated process and found a great partner in Gemspring Capital to help take Valant’s Private Practice business to the next level,” stated Paul Cook, outgoing CEO of Valant
- “We were delighted to partner with the Valant management team on this process,” said Clark Spurrier, Founder and CEO of Spurrier Capital Partners. “This transaction further bolsters our leadership position in the Seattle market, while also exemplifying our deep domain expertise within the Healthcare Technology and Vertical SaaS sectors. We are excited to follow Valant’s continued growth under Gemspring’s ownership.”
- Founded in 2005 and based in Seattle, WA, Valant was previously backed private investors
- This deal represents SCP’s fourth transaction in the Seattle area in the past 12 months
- SCP acted as exclusive financial advisor to Valant
February 2019
has been acquired by
$185,000,000
Transaction Summary
- On February 1st, 2019, Tyler Technologies announced its acquisition of Public Sector Software leader MicroPact for $185mm
- “We chose SCP because they really understood our competitive position, the market, and the buyers,” noted Kris Collo, MicroPact Founder & CEO. “This knowledge was critical to their ability to position MicroPact to both strategic and financial buyers.”
- “This was Arlington’s third transaction with Spurrier Capital Partners, and they demonstrated everything I’ve come to expect from SCP – an organized, efficient process and a value-maximizing outcome,” said Michael Lustbader, Managing Partner at Arlington Capital Partners. “I look forward to the opportunity to work with them again soon.”
- “We are excited about this agreement with MicroPact and the benefits to both of our organizations,” said Brian Miller, chief financial officer for Tyler Technologies. “This is our second acquisition that has involved Spurrier Capital Partners, and we appreciate their professional approach to facilitating a successful outcome. Their attention to detail allows us to focus on strategic fit and integration, providing a valuable service in complex business dealings.”
- “Pairing best-in-class private companies with leading strategic acquirers is at the core of what we do at SCP,” said Clark Spurrier, CEO of Spurrier Capital Partners. “This is our second recent deal with Tyler, our third in Government Technology, and our sixth in the DC Metro Area. This specific focus is what separates us from our peers, optimizes the outcome for the client, and reflects our success in delivering a unique advisory service. Further, we are excited to play a small role in our government’s evolution toward a data-driven approach that will better serve citizens across the nation.”
- MicroPact was backed by Arlington Capital Partners; this is SCP’s third transaction with ACP
- SCP acted as exclusive strategic and financial advisor to MicroPact
September 2018
has been acquired by
Undisclosed
Transaction Summary
- On September 5, 2018, Ciena announced its acquisition of Federated Network & Service Inventory Management solutions leader DonRiver
- “The Spurrier Capital Partners team was an outstanding partner to DonRiver throughout the process”, said John McVey, Co-Founder of DonRiver. “The firm’s model of support, understanding of our unique differentiation within the Communications Service Provider market, and ability to position DonRiver’s strategic value across a broad set of relationships in the industry was critical to maximizing value.”
- “We were delighted to partner with the DonRiver management team on this exciting transaction,” said Mark Yurko, Managing Director at SCP. “Our work with DonRiver also reflects SCP’s commitment to supporting best-in-class founder-owned Companies in Enterprise Software and Communications Technology. The evolution and modernization of CSP infrastructure is critical to addressing both challenges and opportunities from new technologies including SDN/NFV and we are excited to help the DonRiver team execute the next step of that vision.”
- Founded in 2006 and based in Austin, TX, DonRiver was previously founder-owned and backed by private investors
- SCP acted as the exclusive strategic and financial advisor to DonRiver
June 2018
has been acquired by
Undisclosed
Transaction Summary
- On June 26th, 2018, EQT Partners announced its acquisition of Prototyping & Design Software leader Zemax
- “Spurrier Capital Partners ran a superb process that maximized value and found the perfect partner for the Company’s next stage of growth,” said Michael Lustbader, Managing Partner at Arlington Capital Partners. “We look forward to the opportunity to work with SCP again.
- “SCP developed a complete understanding of Zemax’s product portfolio, strategic position, and operations,” stated Mark Nicholson, Zemax CEO. “This allowed them to take the lead in dealing with buyers and responding to diligence requests, which freed up management to continue running the business. As such, the process was quite smooth and efficient, and we are poised to continue our upward trajectory under EQT.”
- “We were delighted to partner with the Zemax management team on this exciting transaction,” said Clark Spurrier, Founder and CEO of Spurrier Capital Partners. “It was also great to work with Arlington Capital again. They have done a great job of identifying best-in-class technology companies. We were also pleased to support the technology community in Seattle a third time this year.”
- Zemax was backed by Arlington Capital Partners; this is SCP’s second transaction with ACP
- SCP acted as the exclusive strategic and financial advisor to Zemax
May 2018
has been acquired by
Undisclosed
Transaction Summary
- On May 9th, 2018, Symphony Technology Group announced its acquisition of Application Data Management leader Winshuttle
- “SCP’s knowledge of the market and buyers was critical to the success of this transaction,” said John Pierson, CEO of Winshuttle. “This underpinned their ability to connect us to decision-makers at the right buyers, craft positioning with each party, and ultimately help us select the right partner for the next phase of the Company’s growth.”
- “We were delighted to partner with the Winshuttle management team and Board on this exciting transaction,” said Clark Spurrier, Founder and CEO of Spurrier Capital Partners. “Winshuttle bolsters our leadership in the Data Management market and demonstrates our continued support of clients in the Seattle area. Further, it reflects our focus on working with founder-owned Software vendors. As a founder myself, I know the challenges of starting a business from the ground up, so I was thrilled to play a small role in seeing Vikram and Rajat realize their vision for Winshuttle.”
- Winshuttle was backed by Summit Partners, with continued involvement from its founders
- SCP acted as the exclusive financial and strategic advisor to Winshuttle
April 2018
has invested in
Undisclosed
Transaction Summary
- On April 23rd, 2018, Vista Equity Partners announced its investment in Allocate Software
- SCP’s deep domain expertise within Healthcare Workforce Management provided Vista Equity Partners with a differentiated perspective to understand the value proposition of Allocate’s platform in the global market
- “We were excited to partner with the Vista Equity team on this investment and look forward to supporting Vista and Allocate as they continue to invest in the Company,” said Clark Spurrier, Founder and CEO of Spurrier Capital Partners. “This transaction builds upon SCP’s commitment to the Healthcare Technology sector and further demonstrates our deep domain expertise within Healthcare Workforce Management.”
- Allocate Software is based in London, UK, and was previously owned by leading European technology and tech-enabled services private equity firm Hg
- SCP acted as financial advisor to Vista Equity Partners
April 2018
has been acquired by
$150,000,000
Transaction Summary
- On April 18th, 2018, Tyler Technologies announced its acquisition of Public Sector Open Data SaaS leader, Socrata
- SCP’s knowledge of the Company and market helped the Board understand that Tyler represented a compelling offer and the best strategic alternative for the Company
- “We were thrilled to partner with the Socrata management team and Board on this process,” said Clark Spurrier, Founder and CEO of Spurrier Capital Partners. “This transaction reflects SCP’s ongoing commitment to Data Management, Vertical SaaS, and the Seattle area. Further, we are elated to play a small role in our government’s evolution towards a data-driven approach that will better serve citizens across the nation.”
- Lead investors included OpenView Venture Partners, Sapphire Ventures, Delta-V Capital, and Frazier Technology Ventures
- SCP acted as the exclusive financial and strategic advisor to Socrata
October 2017
has been acquired by
Undisclosed
Transaction Summary
- On October 19, 2017, Fidelis Cybersecurity announced the acquisition of Advanced Threat Detection and Deception provider TopSpin Security
- TopSpin’s DECOYnet platform is the leading market solution for intelligent deception with automatic adaptation to changes in attacker behavior and network topology
- SCP assisted the Company with strategic positioning and in educating the market on the value proposition of levering Network Analytics and Deception capabilities for Advanced Threat Detection, where TopSpin is a preeminent leader
- TopSpin is based in Herzliya, Israel and was backed by industry-leading investors including Shlomo Kramer, Mickey Boodaei, Zohar Zisapel, and Rakesh Loonkar
- SCP acted as the exclusive financial and strategic advisor to TopSpin
- Press Release
October 2017
has been acquired by
Undisclosed
Transaction Summary
- On October 4, 2017, Hexagon AB announced its acquisition of Luciad, a Belgium-based software company specializing in the visualization and analysis of real-time geospatial information
- “This acquisition strengthens Hexagon’s ability to deliver smart digital realities, enhancing our Smart M.App platform with 3D, 4D (real-time sensor feed integration) and 5D (dynamic analytics) capabilities,” said Hexagon President and CEO Ola Rollén. “The ability to rapidly integrate sensor data in a visually compelling environment provides the geospatial location intelligence and situational awareness necessary for mission critical operations.”
- This transaction represents SCP’s second cross-border transaction in its history and was the product of a multi-year Strategic Audit engagement
- Founded in 1999, Luciad was backed by Gimv, a Belgium-based private equity firm
- SCP served as the exclusive strategic and financial advisor to Luciad
April 2017
has been acquired by
Undisclosed
Transaction Summary
- On April 12, 2017, Insight Venture Partners announced the acquisition of Channel Data Management software platform Zyme Solutions
- Zyme is the leader in providing visibility and decision-grade data to apex technology and industrial manufacturers for optimizing sales, marketing, and inventory programs in the indirect channel
- SCP assisted the Company with strategic positioning and in educating the market on the value proposition for the emerging practice of Channel Data Management, which Zyme pioneered.
- Zyme is based in Redwood Shores, CA and was backed by Susquehanna Growth Equity
- SCP acted as the exclusive financial and strategic advisor to Zyme
- Press Release
April 2017
has been acquired by
Undisclosed
Transaction Summary
- On April 3, 2017, Dentsu Aegis Network US and iProspect announced the acquisition of Performance Marketing Solutions vendor Leapfrog Online for an undisclosed amount
- Leapfrog is a leading provider of conversion optimization and customer acquisition solutions for leading brands. Its proprietary LFX Conversion Platform connects the disparate data across channels, both online and offline, to offer more actionable attribution, behavioral, and customer journey insights to ultimately capture more customer opportunities in methods that are more repeatable and scalable
- SCP worked with the Company to effectively communicate and position its proprietary customer experience and conversion optimization technology to seasoned strategic technology buyers and large agencies seeking to build capabilities for the disruptive migration to Performance Marketing
- Leapfrog is based in Evanston, Illinois and was backed by North Bridge Growth Equity
- SCP acted as the exclusive financial and strategic advisor to Leapfrog
- Press Release
March 2016
has been acquired by
$135,000,000
Transaction Summary
- On January 11, 2016, NICE Systems announced the acquisition of Customer Interaction Analytics vendor Nexidia for $135MM in cash
- Atlanta, Georgia-based Nexidia is the leader in advanced speech and interaction analytics for some of the world’s largest contact centers, media and entertainment companies, government agencies, and legal firms
- SCP assisted the Company in educating potential buyers and partners on the capabilities and value of its highly innovative Neural Phonetic and Search Grid technologies, in addition to navigating the complexities of the competitive relationship with NICE and the challenges in transitioning to a higher percentage SaaS model
- Lead investors included HarbourVest Partners, H.I.G. Capital, Paladin Capital Group, Boston Millennia Partners, and Blue Cross Blue Shield Ventures
- SCP acted as the exclusive financial and strategic advisor to Nexidia
- Press Release
June 2015
has been acquired by
Undisclosed
Transaction Summary
- On June 1, 2015, Sprinklr announced the acquisition of location-specific text analytics software vendor NewBrand for undisclosed terms
- SCP worked closely with the Company over a 24 month period, helping with strategic positioning, partnership activity, and the education of potential acquirers on NewBrand’s differentiated approach to analyzing vast amounts of customer experience data via proprietary NLP and machine learning techniques
- “That’s why Sprinklr has acquired NewBrand,” said Sprinklr CEO, Ragy Thomas. “Integration of NewBrand’s sophisticated text analytics into the Sprinklr platform will give clients new contextual insights and predictive analytics they can act upon to create even more valuable experiences for their customers.”
- NewBrand is based in Washington, D.C., and is one of four transactions on which SCP has advised in the DC metro area
- Lead investors included New Enterprise Associates and Revolution
- SCP acted as the exclusive financial and strategic advisor to NewBrand
May 2015
has been acquired by
Undisclosed
Transaction Summary
- On May 8, 2015, ABRY Partners announced the acquisition of Federal Supply Chain Management vendor Compusearch Software Systems for undisclosed terms
- SCP helped the Company craft a narrative around its position as an “Industry Cloud,” serving all constituents in the federal supply chain, which entails tremendous network effects and barriers to entry
- “SCP was thrilled to work with Compusearch, the latest example of our support for leading, vertical application software vendors in key industries,” noted Clark Spurrier, SCP Founder and CEO. “This transaction also represents one of three transactions we have executed with JMI, which reflects the importance of repeat clients and underpins our long-term commitment to leading financial sponsors.”
- Compusearch is based in Dulles, VA, and is one of four transactions on which SCP has advised in the DC metro area
- Lead investors included Arlington Capital Partners and JMI Equity; this is one of three transactions that SCP has executed with JMI
- SCP acted as the exclusive financial and strategic advisor to Compusearch
February 2015
has been acquired by
Undisclosed
Transaction Summary
- On February 23, 2015, Hobsons announced the acquisition of the leading provider of student success and advising software for higher education institutions, Starfish Retention Solutions, for undisclosed terms
- Working within a tight timeframe upon receipt of an inbound offer, SCP conducted a thorough market check that resulted in several additional offers
- The transaction extends SCP’s leadership in guiding best-in-class vertical SaaS companies in strategic partnerships and outcomes
- “Student success and retention have been a growing focus for colleges as CIOs of institutions face increasing competition in enrollment, transfer/drop-out rates, and student-service expectations,” said Clark Spurrier, Founder and CEO of Spurrier Capital Partners. “Starfish’s Enterprise Success Platform helps higher education institutions scale advising-centric business processes for students and we expect the combination with Hobsons to create the technology leader in managing the entire student lifecycle.”
- Starfish is based in Arlington, VA, and is one of several transactions on which SCP has advised in the DC metro area
- Lead investors included Novak Biddle Venture Partners and New Markets Venture Partners
- SCP acted as the exclusive financial and strategic advisor to Starfish
October 2014
has been acquired by
Undisclosed
Transaction Summary
- On October 31, 2014, TA Associates announced the acquisition of mission-critical Policy Administration Software provider Insurity from Genstar Capital for undisclosed terms
- Insurity is one of two landmark transactions in P&C Insurance Software on which SCP has advised (following the 2011 sale of Duck Creek Technologies to Accenture)
- SCP worked with Insurity for the better part of a year on strategic positioning and accelerating partnership activity, and was ultimately successful in articulating the Company’s unique value proposition as the sole remaining independent Policy Administration vendor of any scale, representing an exciting platform opportunity for a new private equity investor
- “With the Insurity transaction, SCP cements its position as the unquestioned leader in financial advisory to the Insurance Software industry,” exclaimed Clark Spurrier, SCP Founder and CEO. “Having performed two of the most meaningful deals in Core Processing solutions, we look forward to helping old clients and new embrace new technologies in the categories of Analytics, Distribution, etc.”
- Insurity is based in Hartford, CT and was owned by Genstar Capital
- SCP acted as the exclusive financial and strategic advisor to Insurity
September 2014
has been acquired by
Undisclosed
Transaction Summary
- On September 19, 2014, PGi announced the acquisition of enterprise webcasting platform vendor TalkPoint for undisclosed terms
- SCP worked closely with TalkPoint for 18 months in tailoring the Company’s positioning and messaging around its differentiated technology in a space often viewed as commoditized, yet ripe for disruption. The TalkPoint team had quietly built a leading browser-based communications platform that powered some of the largest lightweight webcasting products in the market, which posed significant challenges and a heightened need for discretion as to not disrupt key partnerships
- “We are thrilled to be part of the success story that Nick and his team have built,” said SCP Managing Director, Mark Yurko. “The TalkPoint transaction illustrates the innate confidentiality and flexibility of the process that we designed, and PGi represents a great home for the Company that will enable preservation of key TalkPoint partnership relationships.”
- “TalkPoint’s award-winning technology strengthens PGi’s suite of collaboration software and services and furthers our mission to help businesses improve productivity, accelerate innovation and increase revenue growth. The acquisition positions PGi as a clear leader in the high-growth, $500-plus million webcasting market,” said Boland T. Jones, PGi Founder, Chairman and CEO
- TalkPoint is based in New York City, and reflects SCP’s commitment to helping to drive the explosion of Enterprise Software in our home city
- SCP acted as the exclusive financial and strategic advisor to TalkPoint
July 2014
has been acquired by
Undisclosed
Transaction Summary
- On July 7, 2014, Nuance announced the acquisition of Enterprise Capture vendor Notable Solutions for undisclosed terms
- SCP had worked with the Company for over three years, helping to articulate the Company’s market evolution from traditional Document Capture to an end-to-end Information Lifecycle Governance player with a leading position in Mobility
- The transaction was complicated by the level of competition between Nuance and NSi – SCP was able to quietly vet interest with a host of potential partners / buyers without impacting the Nuance discussions, so the Board was well-informed of its strategic alternatives before entering into advanced negotiations with Nuance
- “We were proud to continue to assert our leadership position in the broader BPM / ECM category, having already advised Global 360 on its sale to OpenText and Nintex on its sale to TA,” declared Clark Spurrier, SCP Founder and CEO. “Our work in those transactions informed our ability to support NSi in its market evolution, and we are excited to continue our work as new document and middleware architectures come to the fore.”
- NSi is based in Rockville, MD, and was backed by Edison Ventures
- SCP acted as the exclusive financial and strategic advisor to NSi
May 2014
has been acquired by
$120,000,000
Transaction Summary
- On May 19, 2014, Google announced the acquisition of Secure Mobile Container vendor Divide (formerly known as Enterproid) for undisclosed terms
- SCP had worked with Divide for over a year, facilitating nearly a dozen partnership discussions, so that the Board had a strong view of its strategic alternatives when strategic interest emerged
- Mobile Device Management was viewed as largely consolidated and commoditized, so it was SCP’s charge to educate buyers on Divide’s differentiation from MDM and how the two can be complementary
- Divide had a broad universe of potential buyers (including Security, IT Management, Virtualization, ad Mobility), each with unique motivations for acquisition
- “SCP was excited to have helped Google make its initial push into the enterprise, with Divide forming the cornerstone of its new Android for Work offering,” noted Clark Spurrier, SCP Founder and CEO. “We look forward to continuing to work with Google and other Mobility leaders as they crystalize their Enterprise Mobility strategies across Security, Management, Collaboration, etc.”
- Divide is based in New York City, and reflects SCP’s commitment to helping to drive the explosion of Enterprise Software in our home city
- Lead investors included BOLDstart Ventures, Comcast Ventures, Genacast Ventures, Globespan Capital Partners, Google Ventures, NYC Seed, and Qualcomm Ventures
- SCP acted as the exclusive financial and strategic advisor to Divide
January 2014
has been acquired by
$340,000,000
Transaction Summary
- On January 21, 2014, GE Healthcare announced the acquisition of Healthcare Workforce Management vendor API Healthcare for undisclosed terms
- API had previously entered into agreement to be acquired by Kronos, only to have the Department of Justice block the transaction, so SCP’s Strategic Audit was uniquely suited to quietly re-introduce the Company to the universe of potential acquirers
- API’s strategic landscape included a diverse array of buyers, many of whom are not traditional Software acquirers (e.g. General Electric), who required more time in the process to educate themselves on the Software opportunity
- “We were delighted to be involved in the evolution of an industry leader such as GE as they embark on an ambitious new Software and Industrial Internet strategy,” said Clark Spurrier, SCP Founder and CEO. “Healthcare is a strategic vertical for us, and Software companies that serve the industry are perfectly suited for our Strategic Audit, given the fragmentation in the sector and the consequent need for patient education of a broad and diverse group of potential buyers.”
- API Healthcare is based in Hartford, WI and was owned by Francisco Partners
- SCP acted as the exclusive financial and strategic advisor to API Healthcare
March 2013
has been acquired by
$222,000,000
Transaction Summary
- On March 27, 2013, TA Associates and Updata Partners announced an acquisition of SharePoint Workflow ISV Nintex Group at a valuation of $222MM
- Assuming a 1x multiple of revenue for Nintex’s Services business, the valuation implies ~7x Nintex Software revenues, which would be the highest multiple among sizeable BPM transactions
- Nintex represents one four transactions that SCP has executed in BPM / ECM (the others being Notable Solutions, StoredIQ, and Global 360), making SCP the most active firm in that sector over the past five years
- Many buyers had questions about the SharePoint ecosystem (e.g. growth of SharePoint customers, threat of Microsoft developments on top of SharePoint), so it was SCP’s mission to craft a compelling narrative around the opportunity presented by many of the SharePoint trends
- “Nintex sought out SCP as the BPM experts after our successful outcome in the Global 360 transaction,” recounted Clark Spurrier, SCP Founder and CEO. “We were proud to bring to bear our knowledge of the sector to assist the company in positioning, outreach, and considerations of alternatives.”
- Nintex is based in Melbourne, Australia, and was backed by Macquarie Capital Group
- SCP acted as the lead financial and strategic advisor to Nintex
December 2012
has been acquired by
Undisclosed
Transaction Summary
- On December 19, 2012, IBM announced the acquisition of Unstructured Information Management vendor StoredIQ for undisclosed terms
- SCP’s charge was to help buyers understand why StoredIQ could be a more successful transaction than that of its competitors, including HP / Autonomy, EMC / Kazeon, Symantec / Clearwell, etc.
- SCP was diligent in educating buyers on StoredIQ’s unique value proposition such that IBM ultimately acquired the Company for a technology that it had yet to release to market
- “StoredIQ was a great example of the Strategic Audit at work, given that our ability to connect the Company with buyers ensured that StoredIQ was well-known by decision-makers at acquirers as they were undergoing build vs. buy discussions,” cited Clark Spurrier, SCP Founder and CEO. “The transaction also represents our long-term support for Companies in the Austin area, dating back to my advisory of Silicon Labs in its IPO in 2000.”
- StoredIQ is based in Austin, TX and is one of several transactions on which SCP has advised in the city
- Lead investors included EMC Ventures, PerformanceEdge Partners, S3 Ventures, and Techxas Ventures
- SCP acted as the lead financial and strategic advisor to StoredIQ
June 2012
has acquired
Undisclosed
Transaction Summary
- On June 14, 2012, Vista Equity Partners announced the acquisition of Recruitment CRM solutions leader Bullhorn for undisclosed terms
- Vista Equity sought out SCP for its expertise in Human Capital Management, with Clark Spurrier having advised industry leaders on strategic alternatives in the sector for the past decade
- SCP served as a credible facilitator between buyer and seller, helping management quantify the value that Vista could drive value for the Company via its brand, expertise, and resources
- “Vista’s decision to hire SCP in this transaction is the result of our long-time support for the firm and extensive knowledge in the sector,” noted Clark Spurrier, SCP Founder and CEO. “Having helped facilitate this transaction, we look forward to supporting Vista and Bullhorn as they take the Company to the next level.”
- Bullhorn is based in Boston, MA
- Lead investors included General Catalyst Partners, Hercules Technology Growth Capital, and Highland Capital Partners
- SCP acted as exclusive financial and strategic advisor to Vista Equity Partners
August 2011
has been acquired by
Undisclosed
Transaction Summary
- On August 17, 2011, R.R. Donnelley & Sons Company announced the acquisition of Digital Content Aggregation & Distribution platform LibreDigital for undisclosed terms
- LibreDigital faced a disparate buyer universe, spanning Software vendors, traditional Media companies, Publishing Services providers, etc.
- SCP was able to drive value by helping the Company quantify a variety of its intangible assets, including publisher relationships, trademarked brand names, etc.
- “RR Donnelley’s acquisition of LibreDigital is an important development in the process of traditional media and publishing services companies embracing new technologies,” asserted Mark Yurko, SCP Managing Director. “We look forward to continuing to be a part of this evolution as Mobile and Social paradigms increasingly reshape the landscape.”
- LibreDigital is based in Austin, TX
- Lead investors included Adams Capital Management, HarperCollins Publishers, The New York Times, Noro-Moseley Partners, SSM Partners, and Triangle Peak Partners
- SCP acted as the exclusive financial and strategic advisor to LibreDigital
July 2011
has been acquired by
Undisclosed
Transaction Summary
- On July 14, 2011, Accenture announced the acquisition of P&C Insurance Software vendor Duck Creek Technologies for undisclosed terms
- SCP focused on optimizing the positioning of Duck Creek’s services revenue, not typically a key value driver in Software transactions, as a unique opportunity for those Services Providers with an Insurance practice such as Accenture to significantly drive incremental higher-margin services beyond the core implementation work Duck Creek delivered
- SCP worked extensively with Duck Creek to model out financial scenarios for products and services within Accenture’s channel
- “The Duck Creek transaction is the poster child for our ability to connect the dots between the needs of our key contacts at public IT leaders and best-in-class private Software vendors,” stated Clark Spurrier, SCP Founder and CEO. “Accenture highlighted to us a focus on improving its P&C Insurance Claims Management platform, and we were able to respond by introducing them to the leading independent Policy Administration player.”
- Duck Creek is based in Bolivar, MO
- Lead investors included FirstMark Capital
- SCP acted as the exclusive financial and strategic advisor to Duck Creek Technologies
July 2011
has been acquired by
$260,000,000
Transaction Summary
- On July 13, 2011, Open Text announced the acquisition of Business Process Management player Global 360 for a total consideration of $260 million
- The process was complicated in February 2011 by OpenText acquiring Global 360 competitor Metastorm (for a revenue multiple that reflected a 25+% discount to the price ultimately paid for G360); SCP’s ability to mediate between the two parties was crucial to keeping the lines of communication open to get the transaction through to closure following that development
- Global 360 and SCP worked together for over a year on reintroducing the Company to all of the potential acquirers, with a focus on highlighting its transition away from legacy Document Management software and growing leadership in Business Process Management and Dynamic Case Management
- “The Global 360 process is exactly what I envisioned when I started Spurrier Capital Partners,” noted Clark Spurrier, SCP Founder and CEO. “Helping a best-in-class late-stage private software vendor, backed by elite investors, articulate its unique value proposition to strategic buyers who have not tracked the Company’s innovation. Of course, the involvement of CEO David Mitchell, with whom I have executed six transactions, is also emblematic of our focus on repeat business.”
- Global360 was based in Dallas, TX
- Lead investors included JMI Equity, Technology Crossover Ventures, and TA Associates
- SCP acted as the exclusive financial and strategic advisor to Global 360
March 2011
has been acquired by
Undisclosed
Transaction Summary
- On March 29, 2011, GXS announced the acquisition of Enterprise Community Management leader Rollstream for an undisclosed amount
- SCP helped forge a partnership between Rollstream and SAP, which drove revenue for the former that helped it outpace its projections, which drove value as potential acquirers such as GXS periodically checked in on the Company’s operations
- The process was accelerated by Cisco’s investment in and partnership with Rollstream competitor Aravo, which prompted all potential acquirers to prioritize their evaluation of the sector. Evidence gathered throughout the Strategic Audit informed the Rollstream Board’s ability to react to that development
- “This transaction included a number of elements that all date back to my work with integration pioneer webMethods, which I took public in 2000,” recounted Clark Spurrier, SCP Founder and CEO. “B2B integration software, mid-Atlantic headquarters, and webMethods alumni. We look forward to continuing to serve Companies with these characteristics.”
- Rollstream is based in McLean, VA
- Lead investors included Amplifier Ventures, Core Capital Partners, and Grotech Ventures
- SCP acted as the exclusive financial and strategic advisor to Rollstream
March 2011
has been acquired by
Undisclosed
Transaction Summary
- On March 9, 2011, Enghouse Systems, a public enterprise software vendor based in Canada, announced the acquisition of Cloud Contact Center Infrastructure provider CosmoCom
- The SCP team had worked with CosmoCom for over five years, so has been a true stakeholder in the Company’s success throughout the relationship
- “CosmoCom is the poster child for our commitment to supporting clients throughout their entire lifecycle, with my having worked with the Company for over five years,” noted Clark Spurrier, SCP Founder and CEO. “Future clients should take comfort from our willingness and ability to support clients in this fashion, which is entirely unheard of in the investment banking industry.”
- CosmoCom is based in Melville, NY
- Lead investors included Intel Capital, SAIC Capital, and Technology Crossover Ventures
- SCP acted as the exclusive financial and strategic advisor to CosmoCom
April 2010
has been acquired by
Undisclosed
Transaction Summary
- On April 6, 2010, Arrow Electronics, Inc. announced the acquisition of Reverse Logistics Technology leader Verical for undisclosed terms
- SCP was sought out by Verical investor Valhalla Partners for its proven ability to build competitive tension to drive value
- “SCP was delighted to serve Verical and Valhalla Partners in architecting an agreement that entails a successful outcome for all parties and sets up Arrow for success in the blossoming reverse logistics field,” mentioned Clark Spurrier, SCP Founder and CEO
- Verical is based in San Francisco, CA
- Lead investors included Valhalla Partners
- SCP acted as the exclusive financial and strategic advisor to Verical
February 2010
has been acquired by
Undisclosed
Transaction Summary
- On February 3, 2010, IBM announced the acquisition of Master Data Management leader Initiate Systems for undisclosed terms
- Comparable Siperian sold to Informatica the same week of the Initate announcement at a significant discount to the Initiate valuation
- The Initiate process was complicated by the fact that the two Companies were competitors
- Initiate Systems is based in Chicago, IL
- Lead investors included Apex Venture Partners, EMC Ventures, Informatica, In-Q-Tel, MK Capital, Paladin Capital Group, Sandbox Industries, and Sigma Partners
- SCP supported Initiate management with an extended Strategic Audit
Advisory Experience
We have advised on numerous transformative transactions in the following sectors:
Application Software
Vertical Software
Infrastructure Software
IT Security & Defense Tech
Communications Software
Healthcare Technology