Apax Dispatch - December
15th December 2021Apax In the last year, there has been an impressive amount of activity at Apax, and the portfolio has never been in better shape. On the deal front, there have been
In the last year, there has been an impressive amount of activity at Apax, and the portfolio has never been in better shape. On the deal front, there have been 19 new investments, including the creation of a landscape-defining social good software platform and 15 full or significant partial exits, such as the IPO of ThoughtWorks and the sale of Unilabs. Apax also closed ADF II, its second tech-focused growth equity fund, at its $1.75bn hard cap.
As a firm, we continued to prioritise and progress important initiatives, including in digital, diversity and impact. For example, Apax partnered with climate and sustainable development expert ClimateCare to offset carbon emissions associated with the firm’s activities and set targets for reductions in air travel, the main contributor to the firm’s carbon emissions. We’ve also progressed important work around firmwide self-identification, allowing us to set a new base line for measuring and reporting on diversity, and we successfully launched our first internship programme aimed at high potential underrepresented students this summer. On digital, the number of people dedicated to tech at Apax continues to grow as does the percentage of invested capital in tech and digital related deals. We’re also incredibly excited for the future of the Apax intelligence platform, which is being built by the OEP’s new data science team and will transform the way we use and analyse data.
To highlight just some of the work that has been going on, below you will find a snapshot of key deals and milestones for 2021.
Apax VII agreed to sell its stake in Psagot Investment House, one of the largest asset management businesses in Israel, to Israeli asset manager Altshuler Shacham Provident and Pension Funds.
ZAP Group Exit
Apax Mid-Market Israel portfolio company ZAP Group was acquired by Israeli information technology company Formula Systems Ltd.
New Social Good Software Platform
Apax acquired and merged EveryAction, Social Solutions and CyberGrants, creating a leading provider of next-generation Software-as-a-Service solutions to the social good ecosystem.
Read more here.
The Apax Mid-market Israel Fund acquired a controlling stake in Comax, a leading SaaS based enterprise resource planning provider for retailers in Israel.
In celebration of Pride Month, we launched our first podcast episode focused on Private Equity and the LGBTQ+ community, featuring Apax's Johnathan Medina and Jennifer Choi, Managing Director at ILPA.
Apax Digital Fund portfolio company Wizeline announced an agreement for Caisse de dépôt et placement du Québec (CDPQ) to acquire majority ownership of Wizeline. Apax Digital Fund remained as a shareholder following the transaction.
Read more here.
Hosted the 10th KnowledgeNow
After a year’s break, Apax's Operational Excellence Practice hosted the 10th KnowledgeNow event. You can find out more by listening to our latest podcast, where Seth Brody and guests discuss the power of the Apax network.
Apax VIII sold its remaining shares in Zensar Technologies, a technology services provider to Fortune 1000 companies across retail, insurance and hi-tech verticals.
Apax IX and Apax Europe VI announced that they have agreed to sell their controlling stake in Unilabs, a leading pan-European provider of laboratory and imaging diagnostics services, to A.P. Moller Holding.
Read more here.