apexanalytix | Investment Partners

Results

Revenue increase of ~37%since close of 2020 transaction

EBITDA increase of ~59%since close of 2020 transaction

EBITDA margin increase of ~7%since close of 2020 transaction

Value Creation Initiatives

What did the business need?

In August 2020, Carousel partnered with management to acquire apexanalytix via a continuation fund to provide continued support through access to liquidity for the ongoing organic growth initiatives of the management team.

What outcomes did we achieve?

In July of 2022, Fund V (in parallel to several other Carousel-sponsored investment funds) completed a partial exit to KKR.

How did we create value?

Invested significantly in the Company’s technology, sales and marketing teams
Supported the buildout of relationships with implementation partners to drive scalability
Acceleration of SaaS revenue growth

Results

Increased revenue from SaaS solutions 150%+since 2014

Increased EBITDA by 2xduring Carousel's hold period

Added 75+new product development and implementation resources to support growth of the Company's software platform

Value Creation Initiatives

What did the business need?

In July 2014, Carousel partnered with management to recapitalize APEX and invest in management’s plan to transform and accelerate the growth of the Company’s software platform.

What outcomes did we achieve?

In August of 2020, Fund IV exited APEX via a continuation fund sponsored by Carousel entities, including Fund V.

How did we create value?

Instituted a management equity incentive plan to allow key management members to participate in the value creation they drive
Recruited new CFO to support existing management team
Supported transition of software platform from perpetual license to SaaS model
Invested heavily in technology platform and human capital infrastructure to support development and rapid growth of new software solutions

The team at Carousel have been great partners for me and the business since we undertook our recapitalization in 2014. Their understanding of APEX's business, and belief in and relationship with our team and its vision have enabled us to pursue and achieve growth and execute upon several strategic objectives that have made a significant impact for our customers. In addition to providing capital, I found that their knowledge, patience and partnership approach proved invaluable as we transformed our business from a services provider to a software and technology leader in the P2P industry. I have truly enjoyed the relationship on a personal level and the business results have been exceptional.

Steve Yurko, CEO, APEX Analytix

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