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- Climb's M&A Weekly: Grammarly, EQT, and CVC all feature
Climb's M&A Weekly: Grammarly, EQT, and CVC all feature
Grammarly buys Superhuman and EQT backs IFS's purchase of TheLoops
Climb Advisors Weekly
July 06, 2025
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Welcome back to the Climb Advisors weekly newsletter with five deals from across the B2B tech landscape.
Climb Advisors focuses on sell-side advisory for B2B Software and services companies generating $5m-$15m in revenue. We also advise on credit solutions for companies of the same profile & in select cases engage in retained buy-side processes for quality buyers. We love to talk markets and make introductions - please don’t hesitate to reach out if you’re a founder or investor looking to transact.
IFS, backed by numerous PE firms, acquires TheLoops
Overview: IFS, backed by EQT, Hg, and TA Associates, acquires TheLoops, an AI agent technology platform for industrial settings. TheLoops has an agentic AI capability for mission-critical processes. The acquisition will integrate TheLoops' AI capabilities into IFS's existing enterprise resource planning and field service management solutions. Read more here.
Climb Comment: IFS has been pursuing an aggressive growth strategy both organically and inorganically. The enterprise software market is increasingly focused on AI-driven automation, making TheLoops' agentic AI capabilities very valuable. This acquisition strengthens IFS's position in the industrial AI space and the ERP market. The new partnership will launch the first agentic AI solution for mission-critical industrial workflows and intends the AI agent to be less like a co-pilot and more like a co-worker.
Grammarly purchases Superhuman
Overview: Grammarly, an AI assistant for electronic communications, acquires Superhuman, an AI-native email app. Superhuman allows its users to respond to emails one to two days faster and save four hours per week on their email. Grammarly is already popular in email as it is the number one use case of Grammarly among professionals. Read more here.
Climb Comment: This deal looks to be a great strategic fit for Grammarly. Grammarly’s AI tools for spelling, grammar, and punctuation, are already widely used when writing emails. With this deal, Grammarly will now have AI capabilities to organize an inbox, schedule meetings, look over all email content, and write entire emails in a user’s own voice and tone. Grammarly recently acquired Coda, a workspace for managing AI agents. Grammarly wants to evolve into a platform that allows its users to collaborate with intelligent AI agents.
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Mill Point Capital acquires SS8 Networks, an intelligence solutions provider for law enforcement
Overview: Mill Point Capital, a tech focused PE firm, acquires SS8 Networks, a provider of lawful and location intelligence and monitoring solutions for law enforcement and government agencies. SS8's platform enables real-time monitoring and analysis of communications data for investigative purposes. The acquisition will help SS8 expand into new markets, upgrade its tech stack, and enhance its current offerings. Read more here.
Climb Comment: Recently, there has been tons of investment in fields like cybersecurity, data security, and data intelligence. As companies become more digitized, there is a massive amount of data that companies need to store and secure. SS8's solutions are particularly valuable as they help law enforcement agencies comply with legal requirements during investigations. Mill Point's investment will accelerate SS8's development of next-generation analytics capabilities and expand its presence in international and emerging markets where demand for lawful intelligence solutions is growing.
WebPros, backed by CVC, purchases Comet Backup
Overview: WebPros, a provider of mission-critical automation, operations, and engagement software, acquires Comet Backup, a provider of backup and storage solutions for managed service providers (MSPs). Comet Backup's backup platform serves thousands of MSPs and IT service providers globally. WebPros powers over 60 million domains and has more than 27 million customers across 227 countries. The acquisition expands WebPros' portfolio of solutions for the MSP channel and strengthens its position in the backup and recovery market. Read more here.
Climb Comment: The MSP market has been growing rapidly as small and medium businesses increasingly outsource their IT operations. Backup and disaster recovery services are critical offerings for MSPs. WebPros has been building an end-to-end platform for web hosting providers and MSPs mostly through inorganic growth. This deal fits their strategy of creating an all-in-one solution for service providers who need reliable backup capabilities for their clients.
LevelBlue, backed by WillJam Ventures and AT&T, acquires Trustwave, a cybersecurity services provider.
Overview: LevelBlue, a cybersecurity platform backed by WillJam Ventures and AT&T, acquires Trustwave, a managed security services provider in the threat detection and incident response space. LevelBlue will combine its strategic risk management and cybersecurity infrastructure with Trustwave's cloud native solutions. The acquisition creates a comprehensive cybersecurity services provider with enhanced threat intelligence and managed detection capabilities. Read more here.
Climb Comment: LevelBlue spun out of AT&T about a year ago and immediately became one of the largest startups in the cybersecurity industry. A few weeks ago, LevelBlue purchased Aon’s Cybersecurity and Intellectual Property Litigation groups. With the two acquisitions, LevelBlue will generate over $1 billion in annual revenue. LevelBlue and Trustwave are planning to launch a cybersecurity managed defense platform with LevelBlue’s AI threat detection capabilities and SpiderLabs’ threat research and intelligence solutions. This new platform will work across both public and hybrid cloud environments. There will be more investment in new platform capabilities with more AI threat detection tools.
Article of the week
The article this week is another podcast. This podcast is about investing in hard assets and commodities, which the speaker believes are in for a bull market over the next few years. The podcast also goes into a bit of history about monetary regime changes, the gold standard, and the dollar.
Thanks for following along & hope you found something useful or interesting. Please don’t hesitate to reach out if you’re considering a sale this year - we’re always glad to chat & share perspective.
All the best,
Nick