Vista acquires Jaggaer from Cinven; CVC joins CD&R at Epicor; FP sells QGenda to Hearst Health

Good morning, Hubsters.

Here’s Wire’s MK Flynn, filling in for Craig McGlashan in a deal-packed Tech Tuesday.

It was a busy morning for reporter Iris Dorbian, thanks to a series of new deals. Iris leads our coverage of U.S. deal announcements, writing a full and steady stream of “reports” each day.

Iris has been writing for PE Hub, Buyouts and Venture Capital Journal since 2013 and has been a full-time contributor since 2016. Her work can be found in the News in Brief section of our website.

She can be contacted at [email protected].

Below I’ll take a look at three tech trades Iris mentioned this morning, including an exit trade.
I would also like to highlight PE Hub’s ongoing reporting from other areas and thank several reporters.

But first, let’s discuss three software transactions.

Expense management
Vista Equity Partners has acquired Jaggaer, a Durham, N.C.-based supplier of procurement and supplier collaboration software, from Cinven, according to Iris. Terms of the transaction were not disclosed.

“Jaggaer provides a mission-critical platform that enables clients and partners to streamline global supply chain and procurement processes, reduce costs and improve visibility,” said Michael Fosnaugh, co-head of Vista’s flagship fund and senior managing director, in a statement. “Jaggaer’s products serve a large addressable market, benefiting from sustained headwinds, including clients’ growing desire to unify direct and indirect spend management and realize the benefits of AI.”

ERP Specialist
CVC has agreed to acquire a significant ownership stake in Epicor, an Austin-based provider of enterprise resource planning software, for an undisclosed amount. When the transaction closes later this year, CVC will have the same number of seats on the board as Epicor’s current sponsor, Clayton, Dubilier & Rice. Steve Murphy will continue to serve as CEO of Epicor.

CD&R first invested in Epicor in 2020.

“When we invested in Epicor nearly four years ago, there was a compelling opportunity to build on the company’s strong foundation and create an industry leader focused on best-in-class enterprise SaaS,” said Jeff Hawn, Epicor president and CD&R partner, in a statement. “Epicor has grown into a leading global platform, led by a fantastic management team that has delivered more value to customers and organizations around the world.”

Onboarding caregivers
Francisco Partners has sold QGenda, an Atlanta-based healthcare HR solutions company, to Hearst. Terms of the deal were not disclosed.

“During our time working with Greg and QGenda, it has been rewarding to support the company’s growth and innovative approach to solving some of healthcare’s most important challenges,” said Ezra Perlman, co-CEO of Francisco Partners, in a statement. “We are especially proud of the impact QGenda has had on its clients, including hospitals and health systems, by helping them manage their workforces and more effectively deploy caregivers across every care setting.”

The company, including its leadership team and approximately 650 employees, will become part of Hearst Health.

Here it comes
Tomorrow could prove to be a key day, particularly in public markets, as the July Consumer Price Index report is due out. PE Hub consumer sector reporter Rafael Canton writes at Wire on Wednesdays, so be sure to join us for insights into private equity dealmaking in the sector.

Rafael joined PE Hub in May 2023 and has previously written for Adweek, Fast Company, and other outlets. In addition to the consumer sector, Rafael covers technology, retail, and sports.

Rafael recently wrote about how Krispy Kreme shed its majority stake in cookie maker Insomnia, selling part of the shares to international family-owned investment firm Verlinvest and private equity firm Mistral Equity Partners.

Contact Rafael at [email protected].

And tune in to Wire Thursday for senior reporter Michael Schoeck’s updates on companies up for sale. Michael has been tracking about 150 companies that are either PE-backed or that PE buyers believe are interested in and that sources say are looking for buyers. Michael provides frequent updates on the sale processes of these companies, based on confidential sources.

Michael joined PE Hub in September 2023 after a long career in financial journalism, covering everything from M&A to bankruptcy, and developing expertise in the energy, industrial and manufacturing sectors. Michael and I worked together at The Deal some 15 years ago.

Michael recently wrote about Charlesbank Capital Partners, which is likely to begin the process of strategic review of MB2 Dental this year, three sources familiar with the matter told him.

Michael can be contacted at [email protected].

And as always, I’d love to hear your feedback at [email protected].

Happy trading,