Mainsail Partners Mergers and Acquisitions Summary

Growth Capital Firm Profile

In the last 3 years, Mainsail Partners has acquired 1 company. It has also invested in 8 others.

Mainsail Partners’ most common sectors for investment areinternet software and services (40%) and software (37%) . The Firm’s most common investment types include growth capital (83%) and recapitalization (5%). In total, Mainsail Partners has invested in 19 US states and 2 different countries.

In the last 3 years, Mainsail Partners has exited 5 companies. The Firm’s most common exit type is trade sale (66%). Mainsail Partners’ largest (disclosed) exit occurred in 2014 when it sold Novus Biologicals for $60M.

Join Mergr to view Mainsail Partners’ full profile and discover more middle-market growth capital firm investors just like it.

M&A Summary

  • M&A Total Activity67
    • M&A Buy Activity41
    • M&A Sell Activity26
  • Total Sectors Invested 9
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 22
  • M&A Advisors 3

Mainsail Partners

Mainsail Management Company, LLC

One Front Street, Suite 3000,
San Francisco, California 94111
United States
(415) 391-3150
www.mainsailpartners.com
mainsail@mainsailpartners.com

Mainsail Partners is a private equity firm that principally targets investments in North American bootstrapped software companies with proven business models and long-term growth potential. Mainsail looks commit $10 to $75 million of equity capital per transaction in businesses generating annual revenues of $4 to $25 million. Mainsail Partners was formed in 2003 and is based in San Francisco.


Investment Criteria

Sectors of Interest: Business Services, Education, Healthcare Services, Internet Software and Services, Software

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Recapitalization

Geographic Preferences: East US, Midwest US, South US, West US, Canada

Transaction Criteria Min Max
Target Revenue 4 25
Target EBITDA - -
Investment Size 10 75
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (2.4/yr) # 29 3 7 2 - - 41
Sell (1.8/yr) # 17 4 4 1 - - 26
vol $117M $117M
  67

Most Recent M&A

Company Date Value Type
Adion Systems, Inc. 2023-07-18 - Growth Capital
Vancouver, British Columbia · www.proshoperp.com
Red Oak Compliance Solutions 2023-06-29 - Growth Capital
Cedar Park, Texas · www.redoakcompliance.com
GTreasury SS LLC 2023-05-18 - Secondary Buyout
Buffalo Grove, Illinois · www.gtreasury.com
Instinct Science LLC 2022-11-28 - Growth Capital
Doylestown, Pennsylvania · www.instinct.vet
Nexus Systems, Inc. 2022-09-13 - Add-on Acquisition
Falls Church, Virginia · www.nexussystems.com
SmartMoving Software LLC 2022-08-23 - Growth Capital
Dallas, Texas · www.smartmoving.com
Fexa 2022-07-28 - Growth Capital
Mullica Hill, New Jersey · www.fexa.io
Flight Schedule Pro 2022-03-31 - Growth Capital
Overland Park, Kansas · www.flightschedulepro.com
Apptega, Inc. 2022-03-17 - Growth Capital
Atlanta, Georgia · www.apptega.com
Forensic Logic, Inc. 2022-02-22 - Add-on Acquisition
Walnut Creek, California · www.forensiclogic.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Internet Software and Services 11 (61%) - 16 (39%) -
Software 6 (33%) - 15 (37%) -
Information Technology 1 (6%) - 4 (10%) -
Franchising - - 1 (2%) -
Healthcare Services - - 1 (2%) -
Life Science - - 1 (2%) -
Restaurants - - 1 (2%) -
Retail - - 1 (2%) -
Semiconductors - - 1 (2%) -
Total 18 - 41 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 17 (94%) - 40 (98%) -
  California 3 (17%) - 9 (22%) -
  Texas 4 (22%) - 6 (15%) -
  Kansas 1 (6%) - 3 (7%) -
  Florida 1 (6%) - 2 (5%) -
  Colorado 1 (6%) - 2 (5%) -
  New York 1 (6%) - 2 (5%) -
  Georgia 1 (6%) - 2 (5%) -
  Tennessee - - 2 (5%) -
  North Carolina - - 2 (5%) -
  Arizona 1 (6%) - 1 (2%) -
  Washington 1 (6%) - 1 (2%) -
  Utah 1 (6%) - 1 (2%) -
  Pennsylvania 1 (6%) - 1 (2%) -
  New Jersey 1 (6%) - 1 (2%) -
  Virginia - - 1 (2%) -
  Montana - - 1 (2%) -
  Massachusetts - - 1 (2%) -
  Illinois - - 1 (2%) -
Canada 1 (6%) - 1 (2%) -
  British Columbia 1 (6%) - 1 (2%) -
Domestic 17 (94%) - 40 (98%) -
Cross-border 1 (6%) - 1 (2%) -
Total 18 - 41 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 16 (89%) - 34 (83%) -
Recapitalization 1 (6%) - 2 (5%) -
Buyout (LBO, MBO, MBI) - - 1 (2%) -
Divestiture - - 1 (2%) -
Secondary Buyout - - 1 (2%) -
Stake Purchase - - 1 (2%) -
Venture 1 (6%) - 1 (2%) -
Total 18 - 41 -

Exits by Deal Type

Type Total # Value
Trade Sale 12 (46%) -
Secondary Sale 6 (23%) -
Trade Sale - Public Company 5 (19%) 117M (100%)
IPO 2 (8%) -
Merger 1 (4%) -
Total 26 $117M

Top M&A Advisors

Financial Deals
Brookwood Associates
 1
Guggenheim Securities
 1
Legal Deals
Wilson Sonsini Goodrich & Rosati
 1

Deal Values

sell # Total
< $100M 3 $117M
TOTAL $117M
Largest Novus Biologicals LLC
$60M (2014-07-02)

M&A Connections

Deals
Acquired from
Investor(s)
5%
2 (5%)
Strategic(s)
2%
1 (2%)
Exited to
Investor(s)
23%
6 (23%)
Strategic(s)
69%
18 (69%)

Investor Summary

Investor Type

Growth Capital Firm

Size

Middle-Market

PE Assets

750M USD

Established

2003

Specialist/Generalist

Specialist

Leadership

Gavin Turner

Co-Founder & Managing Partner

C. Jason Payne

Co-Founder & Senior Advisor

Lynn Atkinson

COO

Chris Cassidy

Partner

David Farsai

Partner

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