Climb's M&A Weekly: Bain Capital, Tricentis and Banyan Software all feature

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Welcome to Climb Advisor’s weekly deal newsletter highlighting transactions announced last week across the B2B tech landscape. Some large transactions announced this week!

Climb Advisors is an M&A and credit advisory firm focused on B2B software and services companies in the range of $5m to $100m+ enterprise value. We guide CEOs and business owners through the process of selling their business & assist investors in sourcing & closing great deals. We love to talk markets and share beneficial information - please reach out any time.

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Tricentis receives $1.33 billion investment from PE firm GTCR

Overview: GTCR has announced a $1.33 billion investment in Tricentis, a Vienna founded, Austin-based leader in AI-driven continuous software testing and quality engineering. This significant move underscores the rapid growth and importance of the software quality assurance market. Trusted by over 60% of Fortune 500 companies, Tricentis has become a key partner for enterprises navigating digital transformation. Widely recognized for revolutionizing software testing for DevOps, cloud, and enterprise applications, Tricentis is poised for further expansion under GTCR’s strategic guidance. The investment highlights Tricentis’ remarkable growth trajectory and positions it to capitalize on emerging market opportunities. Read more here.

Banyan Software annouces the acquisition of DualEnroll

Overview: Banyan Software has acquired DualEnroll, a leading platform for enrollement management implemented by over 100 colleges and systems across the United States. DualEnroll simplifies the enrollment process, providing a seamless experience for students, schools, and colleges by automating workflows and reducing administrative burdens. The platform also faciltates high school students to take college courses. This acquisition reflects Banyan Software’s ongoing strategy of partnering with mission-critical software providers that offer long term value to niche markets. With this addition, Banyan strengthens its portfolio in the education technology sector, supporting DualEnroll’s continued growth. Read more here.

Vitu enters an agreement to acquire services from Cox Automotive

Overview: Vitu has signed an agreement to acquire the Dealertrack Registration and Titling businesses from Cox Automotive, marking a strategic move to expand its capabilities in vehicle registration and titling services. Dealertrack is known for its advanced technology and strong market presence, complements Vitu’s mission to streamline the automotive registration process for dealerships and state agencies. This deal highlights Vitu’s commitment to enhancing operational efficiency and customer experience in the automotive sector. The deal reflects Vitu’s growth strategy and strengthens its position as a leader in registration and titling solutions. Read more here.

Kingswood Capital management completes deal for cybersecurity firm IDX

Overview: Kingswood Capital Management has acquired IDX, a leading provider of data breach response services and digital privacy protection, highlighting its focus on investing in technology-driven businesses addressing critical market needs. IDX’s comprehensive solutions help organizations and individuals navigate complex cybersecurity challenges, offering identity protection, incident response, and privacy management tools. This acquisition positions IDX to further expand its offerings and solidify its leadership in the rapidly evolving cybersecurity and digital privacy sectors. Read more here.

Bain Capital has finalized its acquisition of wealth management platform Envestnet

Overview: Bain Capital has completed its acquisition of Envestnet, a leading provider of wealth management technology and services. This partnership aims to accelerate Envestnet’s growth by using Bain Capital’s industry expertise and financial resources while supporting the company’s ethos of supporting financial advisors and institutions with advanced tools for wealth management, financial planning, and data analytics. The acquisition will allow Envestnet to expand its offerings, enhance its platform capabilities in the rapidly evolving fintech space. Read more here.

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Thanks for following along & hope you found something useful or interesting. Please don’t hesitate to reach out if you’re considering a sale as we move towards 2025 - we’re always glad to chat & share perspective.

All the best,

Nick