Deutsche Beteiligungs AG invests in ProMik: A commitment to enhancing efficiency in the electronics manufacturing industry

Deutsche_Beteiligungs_AG
  • ProMik is a leading global provider of programming and testing solutions for the electronics manufacturing industry
  • Demand for electronic components driven by increasing needs of consumers, industry and the mobility sector
  • Another smooth succession arrangement for a family-owned business

Frankfurt/Main, 31 October 2023. Deutsche Beteiligungs AG (DBAG) has decided to invest in ProMik Programmiersysteme für die Mikroelektronik GmbH (ProMik), a leading global provider of programming and testing solutions for series production in the electronics industry. A fund advised by DBAG will acquire the majority of the shares held by the founding family, and a subsequent reinvestment will see the family retain minority ownership. Alexander Rosenberger and Jens Rosenberger, members of the founding family, will stay with the company as CTO and CMO, respectively.

ProMik: a champion from Nuremberg serving a global market
ProMik was founded in Nuremberg in 1995. With over 5,000 successful projects completed during the course of its history and more than 60 employees, the family-owned business has evolved into a global leader for sophisticated software solutions. ProMik is serving a market boasting double-digit growth rates and covering a broad range of applications. This range includes the mobility sector, where ProMik is supporting clients in autonomous driving, energy management and electric vehicles. ProMik is also active in the consumer goods, e-bike and home appliances sectors. Industrial applications, along with solutions for electronic components manufacturing that allow clients to optimise their own testing and programming processes, complete ProMik’s profile.

“ProMik is active in a flourishing market. We are glad that our network allows us to access exciting investment opportunities like this one, with an excellent product portfolio and attractive potential. There is every reason to look forward to helping ProMik evolve”, said Jannick Hunecke, member of the Board of Management of Deutsche Beteiligungs AG. “We are seeing interesting opportunities for strategic acquisitions in this market. This is where we can leverage our extensive M&A experience.”

Winfried Rosenberger, founder of ProMik, commented: “We are looking forward to joining forces with DBAG, and there is excitement at the prospect of growing our portfolio together. We have invested three decades into ProMik. With DBAG at our side, we have found the ideal investor for our succession planning and can look ahead with confidence.”

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Energy Exemplar to be Acquired by Blackstone and Vista Equity Partners

Vista Equity

Investment will help accelerate growth and drive platform innovation to support grid reliability and the energy transition

SALT LAKE , UTAH, UNITED STATES, October 31, 2023 /EINPresswire.com/ — Energy Exemplar, a leading global provider of energy market simulation software, today announced it has agreed to be acquired by private equity funds affiliated with Blackstone (”Blackstone”) and Vista Equity Partners (“Vista”). With the backing of Blackstone and Vista, Energy Exemplar gains new resources to help accelerate growth and drive platform innovation in support of grid reliability and the energy transition.

“We are tremendously excited about this partnership and how it will accelerate our investment in our leading SaaS platform providing accurate simulation and decision support for our customers in today’s rapidly changing energy landscape,” said David Wilson, CEO of Energy Exemplar. “The combination of Blackstone and Vista brings a unique level of expertise in both the energy and software industries which will continue to propel Energy Exemplar as the go-to solution for the energy transition for all our clients around the world who are leading this charge.”

Energy market participants worldwide rely on Energy Exemplar’s platform to optimize decision-making across both new asset development and existing operations. Utilities, power producers, grid system operators, and others in the energy transition ecosystem use the software to forecast market operations, drive long-term investments, and optimize ongoing operations across their assets and systems. Energy Exemplar’s solutions offer best-in-class functionality, allowing users to model and understand the increasingly complex energy transition landscape in a single unified platform. Energy Exemplar has grown at 30% CAGR since 2018 and currently serves over 500 customers in 79 countries.

“Energy Exemplar is an established category leader with outsized growth potential in a rapidly evolving global energy market,” said Ryan Atlas, Managing Director at Vista Equity Partners. “Its platform provides a holistic view of the impact traditional and emerging energy systems have on the businesses of those leading the energy transition. Together with Blackstone, we look forward to partnering with David and the executive team, leveraging our experience in scaling transformative enterprise software companies to further accelerate innovation and customer value.”

Bilal Khan, Senior Managing Director at Blackstone Energy Transition Partners, added: “We’re thrilled to be backing Energy Exemplar, a mission-critical software provider supporting the growth of renewable energy, battery storage, and transmission grid investment required for the energy transition. Blackstone’s energy market expertise and network of connections can enhance the company’s growth trajectory. We couldn’t be more excited to work with Vista, David, and the management team to drive the next stage of development for Energy Exemplar and its technology solutions supporting grid reliability and decarbonization. This investment is the latest in a series demonstrating Blackstone’s conviction in the energy transition.”

Kirkland & Ellis LLP served as legal counsel, and William Blair served as financial advisor to Blackstone and Vista. Lazard acted as sole financial advisor, and Jones Day and Herbert Smith Freehills served as legal counsel to Energy Exemplar.

About Energy Exemplar

Energy Exemplar is a market leader in the technology of optimization-based energy market simulation. Our cloud software suite, headlined by PLEXOS® and Aurora, is used across every region of the world for a wide range of applications, from short-term analysis to long-term planning studies. It is relied upon by hundreds of organizations worldwide to inform multi-million-dollar decisions. Our people continually think of novel approaches and more realistic simulations that enhance decision making, create market opportunities and enable utilities and regulatory authorities to become smarter, more energy efficient and profitable. Energy Exemplar continues to ‘push the envelope,’ being first-to-market with the latest advances in programming and energy market simulations, as it strives to offer the most comprehensive Energy Analytics Platform to its customer base.

Blackstone Energy Transition Partners

Blackstone Energy Transition Partners is Blackstone’s energy-focused private equity business, a leading energy investor with a successful long-term record, having invested over $21 billion of equity globally across a broad range of sectors within the energy industry. Our investment philosophy is based on backing exceptional management teams with flexible capital to provide solutions that help energy companies grow and improve performance, thereby delivering cleaner, more reliable, and affordable energy to meet the needs of the global community. In the process, we build stronger, larger scale enterprises, create jobs and generate lasting value for our investors, employees and all stakeholders.

About Vista Equity Partners

Vista is a leading global investment firm with more than $101 billion in assets under management as of June 30, 2023. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn, @Vista Equity Partners, and on Twitter, @Vista_Equity.

Victoria Pearson
Sonder London
+44 20 3286 3965
email us here

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Apax Funds invest in GAN Integrity

Apax

Funds advised by Apax Partners LLP (“Apax”) announced today that they have reached an agreement to make a significant growth investment in GAN Integrity (“GAN” or “the Company”), a leading provider of technology that enables proactive, integrated, real-time management and monitoring of third-party and employee risk, ethics and compliance programs. The investment will enable GAN to accelerate product development and to better serve the growing demands of global brands for risk, ethics, and compliance management software technology.

Founded in Denmark in 2004, GAN provides cloud-based software solutions covering internal and external risk areas including third-party due diligence, disclosures, incident, and risk management, as well as multiple risk domains within third-party risk management. At its core, the Integrity Platform, a no code, workflow orchestration platform, enables ethics and compliance teams to effectively assess and manage risk while affecting change by driving proactive ethical and compliant behaviour across the enterprise. The platforms’ unified view of both internal and external risks, combined with its automation capabilities, transforms an organisation’s ability to create a holistic view of its risk landscape and deploy a control environment to manage exposure and unlock sustainable growth.

Risk & compliance applications on the Integrity Platform benefit from a unified data-structure, no-code workflow technology and granular role-based access control. Every application built on the Integrity Platform, from third-party risk management to conflicts of interest, gifts, donations, antitrust, risk assessments and more, empowers companies to design and deploy tailored solutions that accommodate unique organisational setups and internal processes to drive meaningful outcomes and actionable business intelligence. The Integrity Platform empowers compliance teams with cross-application reporting connecting external and internal risks, closing the gaps on functional and data silos for a true holistic management of enterprise risk.

Nicholas Manolis, CEO, GAN Integrity, said: “We’re incredibly excited to partner with Apax in this next stage of our journey. This investment provides us with the resources and flexibility to execute on our ambitious customer product road map and growth plans, providing even more organisations around the world with a platform that makes good governance effortless. With our talented team, and Apax’s unique insights and operational expertise, we have an exciting future ahead.”

“GAN helps its customers drive significant positive impact, and we are thrilled to have the opportunity to partner with Nick and the team. Ethics and compliance behaviours start at the top of all organisations, but businesses need an effective and scalable solution to implement policies and procedures, and GAN provides just that”, said David Su, Managing Partner, Apax Global Impact.

Juan Pablo (JP) Moncayo, Principal, Apax Global Impact, said: “We couldn’t be happier to be partnering with GAN and helping to fuel the next stage of its growth. Our research confirms that the Company’s platform directly helps drive positive corporate behaviour, acting as an enabler of good governance for the benefit of employees, stakeholders, and society at large. We believe that GAN has the potential to be a leader in this important space and we look forward to working closely with the team to reach our collective ambitions.”

Financial terms were not disclosed.

-ENDS-

ABOUT GAN Integrity

GAN Integrity helps global organisations elevate business ethics everywhere. We work with the world’s smartest companies to help them manage risk, impact behaviour and deliver long term strategic value.

GAN enables enterprises to embed ethics in and around their business, by engaging everyone, from front line workers to third parties and stakeholders on their journey towards ethical business transformation. The Integrity Platform has built-in flexibility to quickly adapt to changing regulatory requirements combined with the ever-demanding ethical expectations of their employees.

 

ABOUT APAX & APAX GLOBAL IMPACT

Apax Partners LLP (“Apax”) is a leading global private equity advisory firm. For 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $65 billion. The Apax Funds invest in companies across four global sectors of Internet/Consumer, Tech, Services, and Healthcare. These funds provide long-term equity financing to build and strengthen world-class companies.

Apax Global Impact seeks out opportunities to support companies which deliver tangible societal and/or environmental impact. The strategy revolves around themes including Health & Wellness, Environment & Resources, Social & Economic Mobility, and Digital Impact Enablers. Apax Global Impact leverages the deep expertise of the Apax sector teams, the strength and global scale of the Apax platform globally, and the value creation potential of Apax’s Operational Excellence Practice.

For more information see: www.apax.com.

Apax is authorised and regulated by the Financial Conduct Authority in the UK.

 

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Oakley Capital announces partnership with Boardwave

Oakley

Oakley Capital is pleased to announce its partnership with Boardwave, the leading independent network of European software founders, CEOs, Chairs, NEDs and investors. Boardwave was founded by ex-Salesforce executive Phill Robinson to help drive Europe’s transformation into a software powerhouse. It offers members the opportunity to connect, collaborate, share best practice and mentor one another.

Quote Peter Dubens

We’re pleased to be partnering with Boardwave and share Phill’s vision to build a worldclass tech ecosystem right here in Europe by sharing our expertise and our connections. Boardwave will help augment Oakley’s own network and offer our portfolio companies and management teams the opportunity to connect and collaborate with other software leaders across Europe.

Peter Dubens

Founder and Managing Director — Oakley Capital

Oakley has significant experience as a pan-European technology and software investor. Recent investments include SaaS hosting platform Webpros, cloud hosting platform Contabo, ecommerce SaaS solutions provider ECOMMERCE ONE, and enterprise management software provider Cegid (previously Grupo Primavera).

We’re delighted to welcome Oakley Capital as partners to Boardwave and look forward to having Oakley portfolio companies and management teams join our community of like-minded leaders. Oakley has a strong track record partnering with successful tech and software businesses, experience that will be very useful for our existing members to draw on.

Phill Robinson

Founder — Boardwave

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Main takes next step in the Belgian market with the acquisition of epowerhr by BCS

Main Capital Partners

BCS, one of the larger providers of software for HR and payroll, is expanding its international operations through the acquisition of Belgium-based epowerhr.

BCS HR Software, one of the larger providers of software for HR and payroll, is expanding its international operations through the acquisition of Belgium-based epowerhr. The strategic acquisition marks another step in expanding BCS’ fast-growing position in the HR Software industry in the Benelux. It is BCS’ fifth acquisition since Main Capital invested in the company in April 2022. Previously, Apployed, Tasper, MediSoft and Centric’s HR & Payroll operations were added to BCS. For Main Capital Partners, this is also the second acquisition in Belgium since the opening of its Antwerp office in late 2022.

The opening of the Antwerp office has not only resulted in better support with organic growth strategies in Belgium for portfolio companies such as, Wefact and BCS, but also in inorganic growth via acquisitions. The acquisition of epowerhr is Main’s second acquisition in Belgium, after the acquisition of Eurotracs by logistics software provider FleetGO. By adding epowerhr, the organic growth of BCS in Belgium will accelerate.

BCS has more than 45 years of experience in the HR & payroll software industry. BCS provides a complete HR & Payroll solution ranging from absence and payroll management to employee benefits and personnel administration, as well as employee welfare.

epowerhr was founded in 2000 and has an office in Wommelgem, Belgium. The company provides a broad solution that supports clients in employee development, onboarding, training and performance and process measurement, among other things. The customer base consists of both SMEs and enterprises, and epowerhr is particularly strong in the healthcare, financial services and industrial sectors. BCS also has a strong track-record in these markets, allowing customers of both parties to benefit from a complete solution and good service.

As a result of the partnership with epowerhr, BCS is able to support customers in the entire “employee journey” with its software solutions. This is further complemented by several other HR solutions such as scheduling, employee records, expense management and payroll.

The acquisition of epowerhr is in line with BCS’ strategy to further expand its leading product portfolio and strengthen its market position. BCS already has several customers in Belgium but can further strengthen this position through the combination with epowerhr.

Joep Eijkens, CEO of BCS, comments: “The acquisition of epowerhr is a logical continuation of our expansion strategy within Europe. BCS is committed to continue providing innovative and high quality HR software solutions. By adding epowerhr to BCS, customers can be better served around the process of employee development and performance management.”

Charly Zwemstra, Managing Partner & Chief Investment Officer at Main Capital concludes: “We see many opportunities in the Belgian market and have placed additional focus on this through the opening of our Antwerp office. That this results in a cross-border acquisition in one of our strongest represented product-market segments is an important strategic step. We see more opportunities for both BCS and other portfolio companies to make acquisitions in Belgium, and of course to help Belgian companies cross the border into the Netherlands, DACH region, Scandinavia, or nowadays even the US.”

We see many opportunities in the Belgian market and have placed additional focus on this through the opening of our Antwerp office.

– Charly Zwemstra, Managing Partner & Chief Investment Officer at Main Capital Partners

About

BCS HR Software

BCS offers SMEs and enterprises a complete HR & payroll solution. BCS has over forty years of experience in providing software in the areas of payroll, time registration, absenteeism, workflow management and personnel planning. Since 1978, BCS has grown into one of the largest payroll processors in the Netherlands and has more than 230 employees.

epowerhr

epowerhr was founded in 2000 and has an office in Wommelgem, Belgium. epowerhr provides a broad solution that can be deployed in the process around personnel development and performance. The products support customers in evaluation interviews, onboarding, training and measuring performance and processes, among other things. The company focuses on customers in both the SME and enterprise segments, and is particularly strong in the healthcare, financial services and industrial sectors.

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Renovus Capital Partners Announces Sale of Portfolio Company InflowCX

Renovus

PHILADELPHIA – October 23, 2023 – Renovus Capital Partners (“Renovus”), a premier lower middle-market private equity firm specializing in the knowledge and talent industries, today announced the sale of its portfolio company Inflow Communications LLC (“InflowCX”) to an affiliate of Gemspring Capital Management, LLC who intends to combine it with their portfolio company, Amplix, a provider of technology advisory services and software. Financial terms of the transaction were not disclosed.

Renovus acquired InflowCX in 2020 and shortly thereafter combined the company with PeakView, creating a leading provider of strategic advisory, deployment, and managed services for contact center, customer experience, and unified communications solutions. The transactions were the culmination of a Renovus investment thesis centering on the channel partner business model, specifically seeking opportunities centered on software ecosystems that are earlier in their growth curves and find tremendous value in premium channel and technology partners that can drive both sales and implementation cycles.

“Our firm is proud of the InflowCX management team, which transformed the company into a leading partner in the contact center and customer experience end markets,” said Founding Partner, Jesse Serventi. “During our ownership period, InflowCX completed the PeakView acquisition as well as three additional acquisitions, grew revenue and EBITDA substantially, and built a reputation of excellence in the market. The business is exceptionally well positioned for continued growth under Gemspring’s ownership, and we wish the entire InflowCX team continued success in the future.”

“We are grateful for Renovus’ support throughout our partnership,” said InflowCX CEO Ken Smith. “We have worked hard to further our reputation as the leader in customer experience and contact center solutions and have continued to earn the trust of large and mid-size firms to optimize their CX strategy through enhanced technology solutions. The decisions we made in partnership with Renovus will continue to be felt in our next chapter, as we build on our vast CX experience to provide our clients with new and unique solutions to improve their businesses.”

Lazard served as advisor to InflowCX.

About InflowCX

InflowCX is an innovative provider of strategic advisory, consulting, and managed services for contact centers, customer experience, and unified communications solutions to over 1,000 customers nationwide. InflowCX has grown to be a trusted advisor in its market through the high caliber of its work, problem-solving approach, and focus on client satisfaction. For more information, visit https://inflowcx.com.

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EngageSmart Agrees to Be Acquired by Vista Equity Partners for $4.0 Billion

Vista Equity

Shares of EngageSmart to be Acquired for $23.00 Per Share in Cash

Represents a 30% Premium to the 30-Day Unaffected Volume-Weighted Average Price (VWAP)

EngageSmart to Become Privately Held Company Upon Completion of the Transaction; General Atlantic to Retain Minority Ownership Position

BOSTON–(BUSINESS WIRE)–EngageSmart, Inc. (NYSE: ESMT) (“EngageSmart” or “the Company”), a leading provider of vertically tailored customer engagement software and integrated payments solutions, today announced that it has entered into a definitive agreement to be acquired by an affiliate of Vista Equity Partners (“Vista”), a leading global investment firm focused exclusively on enterprise software, data and technology-enabled businesses, in an all-cash transaction valued at approximately $4.0 billion.

“We have built an amazing business by putting our customers at the center of everything we do”

Post this

Under the terms of the agreement, EngageSmart stockholders will receive $23.00 per share in cash upon completion of the proposed transaction. The purchase price represents a premium of approximately 23% to the unaffected closing price of EngageSmart’s common stock on October 4, 2023, and a premium of approximately 30% over the volume weighted average price (VWAP) of EngageSmart’s common stock for the 30 days ending October 4, 2023.1 Upon completion of the transaction, affiliates of Vista will hold approximately 65% and affiliates of General Atlantic, a leading global investor, will hold approximately 35% of the outstanding equity.

A special committee of EngageSmart’s Board of Directors comprised of independent directors (the “Special Committee”), advised by independent legal and financial advisors, was formed to conduct a deliberate and thoughtful process to evaluate this proposal and other potential value creation opportunities for EngageSmart.

“We have built an amazing business by putting our customers at the center of everything we do,” said Bob Bennett, EngageSmart CEO. “We continue to see attractive growth and customer retention in our vertically tailored SaaS solutions—a testament to the strength of our business model and our leading products. We believe the partnership with Vista and General Atlantic will enable us to continue investing in innovation and people to drive growth. We look forward to continuing to serve our customers and support our employees who are relentless in their pursuit of customer satisfaction.”

“EngageSmart is a demonstrated leader in delivering mission-critical solutions for modern businesses and simplifying customer and client engagement for over a hundred thousand organizations,” said Michael Fosnaugh, Co-Head of Vista’s Flagship Fund and Senior Managing Director. “We look forward to working with EngageSmart as they continue to innovate, scale and empower organizations to better serve their customers.”

“We have long admired EngageSmart’s vertical domain expertise in SaaS and its high-quality solutions across the SMB and Enterprise segments—proven by an established track record of growth and profitability,” said Jeff Wilson, Managing Director at Vista. “We are eager to build on EngageSmart’s momentum and look forward to working closely with the talented leadership team to provide even more powerful, innovative and seamless solutions for customers.”

“We are grateful to Bob and the entire EngageSmart team for their ongoing collaboration and trust. Since we first partnered together in 2019, EngageSmart has established itself as an industry leader by digitizing critical business processes and payments in the industry verticals they serve,” said Paul Stamas, Managing Director and Global Head of General Atlantic’s Financial Services sector. “We believe this transaction is compelling for stockholders, and we look forward to continued partnership with the EngageSmart team alongside Vista to build on the Company’s success to date.”

Transaction Details

Transaction negotiations were led by the Special Committee and following its unanimous recommendation, the EngageSmart Board of Directors unanimously approved the merger agreement with Vista and agreed to recommend that EngageSmart stockholders vote to adopt the merger agreement.

EngageSmart has entered into support agreements with affiliates of General Atlantic and Summit Partners, owners of 52% and 14% of the fully diluted stock of the Company, respectively, under which they have agreed to vote all of their shares in favor of the transaction, subject to certain terms.

The transaction is expected to close in the first quarter of 2024, subject to customary closing conditions and receipt of customary regulatory approvals, as well as the affirmative vote of the holders of a majority of the outstanding shares of the Company’s common stock held by stockholders other than affiliates of General Atlantic and certain officers of the Company. Vista intends to finance the transaction with fully committed equity financing that is not subject to a financing condition. Upon completion of the transaction, EngageSmart will become a privately held company and EngageSmart common stock will no longer be listed on any public market.

The definitive agreement includes a 30-day “go-shop” period that will expire at 11:59 PM ET on November 22, 2023, which permits the Special Committee and its financial advisors to solicit and consider alternative acquisition proposals. There can be no assurance that this process will result in a superior proposal, and the company does not intend to disclose developments with respect to the “go-shop” process unless and until it determines such disclosure is appropriate or is otherwise required.

Third Quarter 2023 Earnings

EngageSmart’s third quarter 2023 earnings will be issued on November 2, 2023. In light of the proposed announced transaction, EngageSmart will not host an earnings conference call. EngageSmart’s third quarter 2023 earnings results will be available on its investor relations website at https://investors.engagesmart.com.

Advisors

Evercore is acting as financial advisor to the Special Committee, and Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal counsel to the Special Committee.

Goldman Sachs & Co. LLC is acting as exclusive financial advisor to EngageSmart.

Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal counsel to General Atlantic.

Kirkland & Ellis LLP is acting as legal counsel to Vista Equity Partners.

About EngageSmart

EngageSmart is a leading provider of vertically tailored customer engagement software and integrated payments solutions. At EngageSmart, our mission is to simplify customer and client engagement to allow our customers to focus resources on initiatives that improve their businesses and better serve their communities. EngageSmart offers single instance, multi-tenant, true Software-as-a-Service (“SaaS”) vertical solutions, including SimplePractice, InvoiceCloud and DonorDrive, that are designed to simplify our customers’ engagement with their clients by driving digital adoption and self-service. As of June 30, 2023, EngageSmart serves 109,700 customers in the SMB Solutions segment and 3,400 customers in the Enterprise Solutions segment across several core verticals: Health & Wellness, Government, Utilities, Financial Services, Healthcare and Giving. For more information, visit www.engagesmart.com and follow us on LinkedIn.

About Vista Equity Partners

Vista is a leading global investment firm with more than $101 billion in assets under management as of June 30, 2023. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn, @Vista Equity Partners, and on Twitter, @Vista_Equity.

About General Atlantic

General Atlantic is a leading global investor with more than four decades of experience providing capital and strategic support for over 500 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic has more than $77 billion in assets under management inclusive of all products as of September 30, 2023, and more than 220 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Miami, Mumbai, Munich, San Francisco, São Paulo, Shanghai, Singapore, Stamford and Tel Aviv. For more information on General Atlantic, please visit: www.generalatlantic.com.

Cautionary Statement Regarding Forward-Looking Statements

This communication includes certain “forward-looking statements” within the meaning of, and subject to the safe harbor created by, the federal securities laws, including statements related to the proposed merger of the Company with Vista (the “Transaction”), including financial estimates and statements as to the expected timing, completion and effects of the Transaction. These forward-looking statements are based on the Company’s current expectations, estimates and projections regarding, among other things, the expected date of closing of the Transaction and the potential benefits thereof, its business and industry, management’s beliefs and certain assumptions made by the Company, all of which are subject to change. Forward-looking statements often contain words such as “expect,” “anticipate,” “intend,” “aims,” “plan,” “believe,” “could,” “seek,” “see,” “will,” “may,” “would,” “might,” “considered,” “potential,” “estimate,” “continue,” “likely,” “expect,” “target” or similar expressions or the negatives of these words or other comparable terminology that convey uncertainty of future events or outcomes. By their nature, forward-looking statements address matters that involve risks and uncertainties because they relate to events and depend upon future circumstances that may or may not occur, such as the consummation of the Transaction and the anticipated benefits thereof. These and other forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements. Important risk factors that may cause such a difference include, but are not limited to: (i) the completion of the Transaction on anticipated terms and timing, including obtaining required stockholder and regulatory approvals, and the satisfaction of other conditions to the completion of the Transaction; (ii) the ability of affiliates of Vista to obtain the necessary financing arrangements set forth in the commitment letters received in connection with the Transaction; (iii) potential litigation relating to the Transaction that could be instituted against Vista, the Company or their respective directors, managers or officers, including the effects of any outcomes related thereto; (iv) the risk that disruptions from the Transaction will harm the Company’s business, including current plans and operations; (v) the ability of the Company to retain and hire key personnel; (vi) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the Transaction; (vii) continued availability of capital and financing and rating agency actions; (viii) legislative, regulatory and economic developments affecting the Company’s business; (ix) general economic and market developments and conditions; (x) potential business uncertainty, including changes to existing business relationships, during the pendency of the Transaction that could affect the Company’s financial performance; (xi) certain restrictions during the pendency of the Transaction that may impact the Company’s ability to pursue certain business opportunities or strategic transactions; (xii) unpredictability and severity of catastrophic events, including but not limited to acts of terrorism, pandemics, outbreaks of war or hostilities, as well as the Company’s response to any of the aforementioned factors; (xiii) significant transaction costs associated with the Transaction; (xiv) the possibility that the Transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; (xv) the occurrence of any event, change or other circumstance that could give rise to the termination of the Transaction, including in circumstances requiring the Company to pay a termination fee or other expenses; (xvi) competitive responses to the Transaction; (xvii) the risks and uncertainties pertaining to the Company’s business, including those set forth in Part I, Item 1A of the Company’s most recent Annual Report on Form 10-K and Part II, Item 1A of the Company’s subsequent Quarterly Reports on Form 10-Q, as such risk factors may be amended, supplemented or superseded from time to time by other reports filed by the Company with the SEC; and (xviii) the risks and uncertainties that will be described in the Proxy Statement available from the sources indicated below. These risks, as well as other risks associated with the Transaction, will be more fully discussed in the Proxy Statement. While the list of factors presented here is, and the list of factors to be presented in the Proxy Statement will be, considered representative, no such list should be considered a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material impact on the Company’s financial condition, results of operations, credit rating or liquidity. These forward-looking statements speak only as of the date they are made, and the Company does not undertake to and specifically disclaims any obligation to publicly release the results of any updates or revisions to these forward-looking statements that may be made to reflect future events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Important Additional Information and Where to Find It

In connection with the proposed transaction between the Company and Vista, the Company will file with the SEC a Proxy Statement, the definitive version of which will be sent or provided to Company stockholders. The Company and affiliates of the Company intend to jointly file a transaction statement on Schedule 13E-3 (the “Schedule 13E-3”). The Company may also file other documents with the SEC regarding the proposed transaction. This document is not a substitute for the Proxy Statement or any other document which the Company may file with the SEC. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT, THE SCHEDULE 13E-3 AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and security holders may obtain free copies of the Proxy Statement, Schedule 13E-3 (when it is available) and other documents that are filed or will be filed with the SEC by the Company through the website maintained by the SEC at www.sec.gov, the Company’s website at investors.EngageSmart.com or by contacting the Company’s Investor Relations Team at IR@engagesmart.com.

The proposed transaction will be implemented solely pursuant to the Merger Agreement dated as of October 23, 2023, among the Company, Icefall Parent, LLC and Icefall Merger Sub, Inc., which contains the full terms and conditions of the proposed transaction.

Participants in the Solicitation

The Company and certain of its directors, executive officers and other employees may be deemed to be participants in the solicitation of proxies from the Company’s stockholders in connection with the proposed transaction. Additional information regarding the identity of the participants, including a description of their direct or indirect interests, by security holdings or otherwise, will be set forth in the Proxy Statement and other materials to be filed with the SEC in connection with the proposed transaction (if and when they become available). Information relating to the foregoing can also be found in the Company’s proxy statement for its 2023 annual meeting of stockholders, which was filed with the SEC on April 5, 2023 (the “Annual Meeting Proxy Statement”). To the extent holdings of securities by potential participants (or the identity of such participants) have changed since the information printed in the Annual Meeting Proxy Statement, such information has been or will be reflected on the Company’s Statements of Change in Ownership on Forms 3 and 4 filed with the SEC. You may obtain free copies of these documents using the sources indicated above.

1 Based on closing price of $18.71 on October 4, 2023.

Contacts

Investors

Josh Schmidt
EngageSmart, Inc.
IR@engagesmart.com

Media

EngageSmart:
Sharon Stern / Ed Trissel
Joele Frank, Wilkinson Brimmer Katcher
ESMT-JF@joelefrank.com

Vista Equity Partners:
Brian Steel
media@vistaequitypartners.com
(212) 804-9170

General Atlantic:
Emily Japlon
media@generalatlantic.com

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aPriori Receives Growth Investment from Vista Credit Partners for its Manufacturing Insights Platform

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Vista Equity

CONCORD, Mass.–(BUSINESS WIRE)–aPriori today announced a growth investment from Vista Credit Partners, a subsidiary of Vista Equity Partners and strategic financing partner focused on the enterprise software, data, and technology markets. The funding will be used to support continued innovation and meet growing demand for aPriori’s cloud-based solution, which empowers manufacturers and product designers to accurately estimate, manage, and optimize production costs and sustainability.

“Vista Credit Partners is proud to support innovative enterprise software companies like aPriori with flexible capital solutions and operational support to further establish market leadership”

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“The aPriori Manufacturing Insights Platform helps manufacturing executives transform their businesses by simulating the digital impact that new and existing product designs will have on cost as well as carbon emissions, manufacturability, supply chain availability, and other attributes,” said Stephanie Feraday, aPriori President and Chief Executive Officer. “Vista Credit Partners provides us with resources and expertise to help drive our continued success.”

Rising material and energy costs, supply chain instability, and an evolving regulatory environment make it difficult for manufacturing leaders to optimize production costs and sustainability efforts. The aPriori Manufacturing Insights Platform helps meet these challenges by connecting teams and their product data – including design and cost engineering departments, sourcing and procurement teams, sustainability groups, and suppliers. This provides an end-to-end solution to automate product manufacturing cost estimations to increase profitability while mitigating downstream production issues and time-to-market delays.

Leading global manufacturers including Carrier, Boeing, Danfoss, GE Appliances, Thales, Vestas, Navistar, and Toyota trust aPriori to drive product design efficiency and cost savings.

“Vista Credit Partners is proud to support innovative enterprise software companies like aPriori with flexible capital solutions and operational support to further establish market leadership,” said David Flannery, President, Vista Credit Partners. “aPriori is providing manufacturers with valuable insights to make impactful business decisions, and we look forward to supporting the company in its next phase of growth,” added Pete Fisher, Managing Director, Vista Credit Partners.

To learn more about aPriori, view our customer case studies and register for our Manufacturing Insights Conference (MIC), November 6-8, 2023, at the Hyatt Regency Grand Cypress in Orlando, Florida. This year’s conference will address how manufacturers use digital transformation across product design, manufacturing processes, and production to develop more profitable and sustainable products.

About aPriori

aPriori provides a unique, end-to-end digital twin solution that empowers manufacturers to unlock and identify new opportunities rapidly for innovation, growth, cost savings, and sustainability. With aPriori, customers achieve a ~600% ROI within three years and payback within six months of adopting our software platform. And companies use our automated manufacturing insights to eliminate product cost, improve productivity, and reduce their products’ carbon footprint. aPriori also boosts manufacturers’ digital thread investments to deliver business value at scale, increase agility, and minimize risk. To learn more about aPriori’s cloud and on-premise solutions, visit www.apriori.com.

aPriori on LinkedIn
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aPriori Blog

About Vista Credit Partners

Vista Credit Partners is the credit-investing arm of Vista Equity Partners and is a strategic investor and financing partner focused on the growing enterprise software, data, and technology market. Vista Credit Partners employs a highly disciplined approach to credit investing while maintaining flexibility to pursue investments offering the best relative value and investing across the capital structure. As of June 30, 2023, Vista Credit Partners has grown to over $7.7 billion of assets under management. Since its formation in 2013 and as of September 30, 2023, Vista Credit Partners has deployed over $11 billion. For more information, please visit www.vistacreditpartners.com.

Vista Credit Partners offers solutions tailored to strategic objectives with growth-friendly terms and long-term investment horizons across both the private and broadly syndicated markets, sourcing deals directly from founder-led companies, through sponsor relationships, and from its deep network of experts, advisors, and other intermediaries to support growth and unlock value through creative capital solutions and operational partnership. Vista Credit Partners has completed more than 560 software and technology transactions since its inception.

aPriori and aPriori Technologies are registered trademarks of aPriori Technologies Inc. All other trademarks, registered trademarks, or service marks belong to their respective holders.

Contacts

aPriori Media Contact
Alex Wallace
Associate Director of Public Relations
aPriori
awallace@apriori.com
978.451.7687

Vista Credit Partners Media Contact
Brian Steel
media@vistaequitypartners.com
212.804.9170

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Ardian strengthens its commitment to Dedalus, driving the next phase of growth with a new investment and the appointment of a new Group CEO

Ardian

Ardian agreed to increase its stake in Dedalus to 92%, with founder Giorgio Moretti retaining a 6% stake in the Company and remaining board member.
• Alberto Calcagno appointed Group CEO and Andrea Fiumicelli made Chairman.

A consortium led by Ardian, a world leading private investment house, has agreed to acquire an additional 19% stake in Dedalus, a leading European player in the healthcare software industry, from founder Giorgio Moretti. Subject to customary authorizations by the competent authorities, upon completion of the transaction, the consortium led by Ardian will indirectly hold a 92% stake in the Company, with Moretti retaining a 6% stake and a seat in the board.

The agreement aims to support Dedalus through a new phase of expansion.

As part of this growth plan, Alberto Calcagno, former CEO of Italian ICT company Fastweb, which has seen significant constant growth over the past 10 years, has been appointed as new CEO, effective from October 18.

Andrea Fiumicelli, who has managed Dedalus over the last few years and contributed significantly to the company’s further development through several strategic M&A deals, has been appointed Chairman.

“Ardian is fully committed to supporting Dedalus throughout its next period of growth, in which it aims to serve its clients and deliver its mission of improving healthcare for over 500 million patients globally. Ardian and I want to thank Giorgio Moretti for his vision and execution since our initial investment”. Marco Bellino, Managing Director Buyout, Ardian

“After a long journey that began in Florence 40 years ago, the time has come for Dedalus to expand. This agreement will help the company to further invest in innovation, in line with our mission. Alberto Calcagno will bring strong skills and new energy to the Group’s operations and future strategic development. I will remain a shareholder in Dedalus, together with my longtime partner Three Hills, fully supporting the new CEO and the company’s project”. Giorgio Moretti, Founder, Dedalus

“I am very happy to join Dedalus to drive its ambitious growth plans. Today, the healthcare software industry is privileged to have the responsibility of leading on critical digital transformation to improve the well-being of millions of patients. Dedalus’ mission is to accelerate and deliver this change as soon as possible”. Alberto Calcagno, new CEO, Dedalus

“In the last four years we have successfully re-designed our software portfolio and established sales and delivery operations in 25 countries. This new governance structure strengthens our commitment to our mission and future clients. We aim to deliver faster innovation and high-quality services, be the best employer in the sector and serve our shareholders’ ambitions”. Andrea Fiumicelli, new Chairman, Dedalus

Ardian has invested in Dedalus in several stages since 2016, supporting a strong M&A strategy which has seen the Company become a pan-European leader in its sector.

ABOUT DEDALUS

Founded in 1982 in Florence by Giorgio Moretti, Dedalus Group is the leading healthcare and diagnostic software provider in Europe, supporting globally the digital transformation of 6700 Healthcare Organisations and 5700 Labs and Diagnostic centres worldwide, processing its solutions for more than 540 millions of population worldwide. Dedalus offer supports the whole continuum of care, offering open standards-based solutions serving each actor of the Healthcare Ecosystem to provide better care in a healthier planet. Life Flows through our software.

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $156bn of assets on behalf of more than 1,470 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 16 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

PRESS CONTACT

ARDIAN

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Gatekeeper Announces Strategic Growth Investment from Vista Equity Partners

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