AffiniPay, WP Engine, SOAL Technologies open wallets in Austin – The Business Journals
Here are five recent deals that caught our attention.
• Austin-based software maker AffiniPay LLC has purchased MyCase from funds advised by Apax Partners LLP, a British private equity firm.
Financial terms were not disclosed.
AffiniPay, founded in 2005, makes payment software used by professional services firms including those in law, architecture and accounting. Its products include LawPay, so the acquisition of MyCase bolsters its legal offerings and “creates one of the fastest-growing integrated legal practice management software and payments companies,” according to the June 9 announcement.
Combined, LawPay and MyCase serve more than 65,000 law firms in the United States and Canada, according to the announcement.
AffiniPay roughly doubled in size with the deal — it now has 478 employees, up from 238 prior to the acquisition, a spokesperson said.
AffiniPay was advised on the deal by Lazard and Goodwin Procter LLP. MyCase was advised by William Blair and Simpson Thacher & Bartlett LLP.
When the Apax funds purchased MyCase in 2020, it fetched roughly $193 million, Law.com reported.
• Austin’s WP Engine Inc. bolstered its tech stack with the June 2 announcement it had acquired five WordPress plugin developer tools from Delicious Brains, a Canadian WordPress products company. Terms weren’t disclosed.
The plugins include Advanced Custom Fields (ACF), WP Migrate, WP Offload Media, WP Offload SES and Better Search Replace. Collectively, they have about 4 million users. WP Engine, which was founded in 2010 and raised $250 million from Silver Lake in 2018, has previously acquired StudioPress and Flywheel.
• SOAL Technologies LLC, an Austin-based staffing and recruiting company, on June 1 purchased Tekberry, a California-based staffing firm. Financial terms were not disclosed.
Ahmed Moledina, who immigrated to America from Pakistan when he was 17, founded SOAL in 2008. The firm is known for its work in fields such as information technology, health care and light industrial. It ranked No. 1 on Austin Business Journal’s latest list of the busiest tech recruiting firms, with 432 total tech placements in 2020.
The company now employs 45 people, a spokesperson said.
• About a month after it was formed, Curana Health has beefed up with an acquisition.
The Austin-based senior care company said May 31 it bought Physicians Eldercare of Winston-Salem, North Carolina. The purchase price was not disclosed but Curana said the deal adds 50 care sites to its footprint, which spans more than 1,000 senior living sites in 27 states.
Curana Health was formed in May through the merger of three senior care providers: Elite Patient Care, Provider Health Services and AllyAlign Health — have merged to create Curana Health.
A spokesperson said the company has more than 1,000 employees. It is led by CEO Mark Price.
• Dallas-based TopSide Marinas has purchased a Central Texas marina and plans to expand its boat storage capacity.
The firm said May 31 it purchased North Point Yacht Club — on Lake Belton in Temple, about 75 miles north of downtown Austin — from Price Brashear for an undisclosed amount.
TopSide co-founder Jacob Boan said in the announcement that the new owners plan to add 70-plus wet slips at North Point. This is the third acquisition for TopSide, which Boan and Stephen Lehn founded in 2020. Last year, the firm purchased Beavers Bend Marina in Oklahoma and Galveston Yacht Basin in Texas, according to Trade Only Today, which reported that TopSide is backed by Miramar Equity Partners and TRT Holdings.
MapleMark Bank was TopSide’s lender on the deal and Winston & Strawn LLP provided legal counsel, according to the announcement. A spokesperson said the Lake Belton marina has two employees.
For more recent M&A deals, including expansions by Felix Media Solutions and Socotra, go here.
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