Apax Dispatch - December
15th December 2021
Apax 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 beenIn 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.
Azentio Software
Apax X acquired a 100% stake in the Software Products business of 3i Infotech, which was renamed Azentio Software.
Read more here.
PIB Group
Apax X acquired PIB Group, a leading independent specialist insurance intermediary from The Carlyle Group.
Read more here.
Signavio Exit
The Apax Digital Fund sold portfolio company Signavio, a leader in the enterprise business process intelligence and process management space, to SAP.
Read more here.
Apax rebrand
This year, Apax underwent a rebrand, including the launch of a brand new website, which you can view here:
www.apax.com/
Herjavec Group
Apax X acquired a majority stake of Herjavec Group, an award-winning global Managed Security Services Provider and cyber operations leader.
Read more here.
Psagot partial-exit
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.
Innovage IPO
Apax X portfolio company InnovAge listed on the Nasdaq Global Select Market.
Read more here.
Lutech
Apax X acquired a majority stake in Lutech, a leading IT services, software and technology company in Italy, from One Equity Partners.
Read more here.
Rodenstock
Apax X announced an agreement to acquire Rodenstock Group, a leading manufacturer of premium ophthalmic lenses, from Compass Partners.
Read more here.
ZAP Group Exit
Apax Mid-Market Israel portfolio company ZAP Group was acquired by Israeli information technology company Formula Systems Ltd.
Genius Sports listing
Apax IX portfolio company Genius Sports went public via a merger with SdMY Technology Group Inc II.
Read more here.
Global-e IPO
Apax Mid-market Israel Fund portfolio company Global-e listed on the Nasdaq, with a valuation of c.$3.6 bln.
Read more here.
Boasso partial-exit
Apax IX portfolio company Boasso Global (formerly Quality Distribution) agreed to sell its quality carriers business to CSX Corporation.
Read more here.
Faculty
Faculty, a leading British artificial intelligence company, raised £30m in growth funding from the Apax Digital Fund.
Read more here.
Tide
The Apax Digital Fund led a $100 million Series C funding round in Tide, the UK’s leading business financial platform.
Read more here.
Infogain
Apax X acquired Infogain, a Silicon Valley-based leader in digital transformation and software services.
Read more here.
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.
Revolution Prep
The Apax Digital Fund invested in Revolution Prep, a leading national provider of online academic tutoring and test preparation services.
Read more here.
Comax
The Apax Mid-market Israel Fund acquired a controlling stake in Comax, a leading SaaS based enterprise resource planning provider for retailers in Israel.
Baltic Classifieds Group IPO
Apax IX portfolio company BCG started trading on the London Stock Exchange.
Read more here.
Initiative Climat International
Apax reinforced its commitment to tackle climate change by becoming a signatory to the Initiative Climat International (iCI).
Find out more on our website.
SavATree
Apax X acquired SavATree, a leading, professional tree, shrub and lawn care provider, from CI Capital Partners.
Read more here.
Pride Month
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.
Commitment to Carbon Neutral
Apax partnered with climate and sustainable development expert ClimateCare to offset carbon emissions associated with the firm’s activities.
Find out more on our website.
T-Mobile Netherlands
Apax X, alongside Warburg Pincus, agreed to acquire T-Mobile Netherlands Holding B.V. from Deutsche Telekom AG and Tele2 AB.
Read more here.
Wizeline Exit
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.
Eating Recovery Center
Apax X acquired Eating Recovery Center, a leading provider of eating disorder and mood and anxiety treatment in the U.S.
Read more here.
Homeowner Services Group
Apax X acquired American Water's Homeowner Services Group.
Read more here.
Lever
The Apax Digital Fund completed a $50 million Series D funding round in Lever.
Read more here.
ClassPass Exit
Apax Digital Fund portfolio company ClassPass was acquired by Mindbody.
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.
Zensar Exit
Apax VIII sold its remaining shares in Zensar Technologies, a technology services provider to Fortune 1000 companies across retail, insurance and hi-tech verticals.
Unilabs Exit
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.