Deals

We get software deals done.

We have sourced 85 software acquisitions and investments for our partners.

Australia

Land and Expand Tuck-In

Company: Australian founder owned HR compliance tech-enabled business

Investor: UK-based HRTech PE Platform

Enterprise Value: $65M

Revenue Multiple: 3x

Deal Summary: Our client identified Australia as a strategic geography for expansion. Needed a sizable sub-platform with back-able team in region to buy up and integrate other assets. No banker, company not for sale.

North America

Growth Equity Investment

Company: Hyper-growth VC-backed MarTech business

Investor: Growth Equity firm

Enterprise Value: $150M

Revenue Multiple: 10x

Deal Summary: CEO was not looking for an investment, his syndicate was leaning in and ready to finance the next round if and when needed. RZ shared our client’s value add, and introduced the CEO to our client. Our client invested 30 days later.

US/UK/Australia

Two Tuck-Ins

Company: Two founder owned companies in UK and Australia each with half the IP for a marketing solution to law firms

Investor: US-based LegalTech PE Platform

Enterprise Value: $30M

Revenue Multiple: 3.5x

Deal Summary: The two companies had been partners, delivering a complete solution together. Bid on both targets, closed simultaneously. No sell-side banker.

DACH Region

Take Private

Company: Austrian small-cap software company traded on the Frankfurt exchange

Investor: Software holding company

Enterprise Value: $40M

Revenue Multiple: 1x

Deal Summary: Four institutional shareholders with controlling interest hired banker to seek exit; depressed multiple, no credible plan for growth or profile. Complex process navigating securities, corporate and labor laws across two DACH countries.

North America

Complex Divestiture

Company: Publicly traded mid-cap software company

Investor: Software holding company

Enterprise Value: $60M

Revenue Multiple: 1x

Deal Summary: Seller disposed of several non-core software assets. Used proceeds for share buy back. Divested assets did not include any management or back office infrastructure.

North America

Acquisition

Company: Venture-backed enterprise search solution for Sharepoint

Investor: Publicly traded strategic acquirer

Enterprise Value: $34M

Revenue Multiple: 4x

Deal Summary: RZ tracked company for three years. Rejected multiple offers from PE firms, only interested in strategic. Proprietary deal.

 

North America

Minority Investment

Company: AI-powered sales enablement & talent intelligence solution owned by an offshore consulting company

Investor: Growth Equity Firm

Post-Money Value: $130M

Revenue Multiple: >10x

Deal Summary: Four Co-Founders incubated a best-in-class Enterprise AI platform and sought to spin out of the parent consulting company. Recapped and successfully spun out with a minority growth investment.

North America

Search Fund Platform

Company: EdTech / GovTech digitization + records management software

Investor: Software Search Fund

Enterprise Value: $45M

Revenue Multiple: 3x

Deal Summary: Acquired two independent software companies with an investment thesis based on integrating, realizing synergies, and professionalizing management. Unbanked process with complex ownership structure.