CapVest Partners to acquire Minneapolis-based M&A SaaS provider Datasite

Funds managed by CapVest Partners, a private equity firm, has signed an agreement to acquire Minneapolis-based SaaS provider Datasite for an undisclosed price.

Datasite caters to the mergers and acquisitions (M&A) industry. The company has a workforce of over 750 employees across 25 locations in 13 countries.

The SaaS provider is said to have garnered a fast growing customer base in 180 plus countries in the last five years through its products and services. It had increased its revenue by more than 30% in 2019, while facilitating nearly 10,000 deals.

The acquisition by CapVest Partners marks a major milestone for Datasite, which is expected to help dealmakers across the world with the tools they require to succeed right the entire deal lifecycle.

Rusty Wiley – Datasite CEO said: “This is an exciting day for the entire Datasite family – employees, customers and industry partners alike – and further solidifies the company’s position as a leading SaaS provider for the global M&A community.

“We have the best people and the best technology, making transactions faster, simpler, and more secure. CapVest’s long track record of transforming the size and scale of their portfolio companies and enabling them to realize their potential makes them an exciting partner for our next phase of growth.

“We look forward to bringing new products to address our customers’ pain points and increase efficiency.”

Datasite’s tools include a core due diligence application – Datasite Diligence, its application to assist in the preparation of transactions – Datasite Prepare, its application for streamlining the initial stage marketing process – Datasite Outreac, and the first dedicated buy-side application – Datasite Acquire.

Christopher Campbell – Partner at CapVest said: “Rusty and the team have done a fantastic job in transforming Datasite into a leading platform, providing essential services to dealmakers around the world.

“With the recent launch of the Prepare, Outreach, and Acquire products to augment the Company’s flagship Diligence offering, Datasite is the comprehensive solution provider for the dealmaking community. We look forward to bringing additional innovative products to market to continue to address customer needs.”

Goldman Sachs & Co. served as exclusive financial advisor to Datasite, while Akin Gump Strauss Hauer Feld served as legal advisor to the firm.

William Blair served as financial advisor for CapVest, while Kirkland & Ellis is the legal advisor.

The deal, which is subject to customary regulatory approvals and meeting of closing conditions, is likely to be wrapped up in fourth quarter of 2020.

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