August 18, 2020 — 

Carousel Capital announced the closing of a new investment in Apex Analytix, LLC (“Apex” or the “Company”), a leading provider of supplier management, audit, recovery and compliance software and services.

Apex revolutionized recovery audit with advanced analytics and the introduction of firststrike overpayment and fraud prevention software. Today, Apex also leads the world in supplier management innovation with apexportal and smartvm, now the most widely used supplier onboarding and compliant master data management solution in global procure to pay processes. With over 250 clients in the Fortune 500 and Global 2000, Apex is dedicated to providing companies and their suppliers with the ultimate supplier management experience.

Carousel Capital originally partnered with Apex in July 2014. Since that time, Apex’s management has executed its growth plan and transformed the business into a leading supplier information management and software company. “Apex is a critical technology provider to many of the world’s largest companies and we are excited to continue our partnership with the team,” said Charles Grigg, Managing Partner at Carousel.

“My team and I are incredibly excited to continue our partnership with Carousel,” said Steve Yurko, CEO of Apex. “With our new capital base, we are confident we can continue to provide our customers with exceptional technology and service solutions,” added Mr. Yurko.

This transaction represents a complete exit for Carousel’s fourth fund, Carousel Capital Partners, IV, L.P. and its affiliated parallel investment vehicles (together as “Fund IV”). “We are thrilled to provide our Fund IV investors with another successful realization,” added Peter Clark, Partner at Carousel.

The transaction was funded with equity from Carousel’s fifth fund, Carousel Capital Partners V, L.P. and its affiliated parallel investment vehicles (together as “Fund V”) along with multiple special purpose investment vehicles also managed by Carousel, Apex’s management team and other co-investors. K&L Gates and Latham & Watkins acted as legal advisors.


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