Cloud & SaaS Acquisitions in Louisiana

Selerix, a McKinney, Texas–based provider of cloud benefits administration, has acquired SyncStream Solutions, a pioneer in Affordable Care Act (ACA) reporting technology. The acquisition combines Selerix's benefits platform and customer service capabilities with SyncStream's ACA reporting and advisory expertise to create an end-to-end ACA solution for employers, brokers, carriers, and staffing/PEO providers; financial terms were not disclosed.

Greater Sum Ventures (GSV), an entrepreneurial family office and growth equity investor, has acquired Kologik, a Baton Rouge–based provider of cloud-based public safety software. The investment adds Kologik to GSV's growing platform of public safety technology companies and will provide capital to expand its cloud solutions including computer-aided dispatch, records management, jail management, and the COPsync mobile information network.

Troy, Michigan-based Billhighway, a Lovell Minnick Partners (LMP) portfolio company, is acquiring ChapterSpot, a New Orleans-based CRM and member-management software provider for fraternities, sororities and associations. Comvest Credit Partners provided a senior secured credit facility to refinance Billhighway's existing debt and support the acquisition; transaction presented as an add-on to Billhighway's platform to expand its SaaS capabilities for member-based organizations.

Valsoft Corporation has acquired JBL Solutions, an industry-specific SaaS publisher serving distribution and light fabrication customers; the transaction closed on September 13, 2023. JBL Solutions, based in Baton Rouge, Louisiana, serves 225+ active accounts (with ~60% repeat business); Valsoft will integrate the business into its portfolio of vertical-market software companies to expand its industrial ERP offerings.

GrowthCurve Capital, a private equity firm, has acquired Netchex, a cloud-based human capital management (HCM) and payroll software provider, from affiliates of Primus Capital. The investment will support Netchex’s AI and data analytics strategy, new product development, and expansion into new markets; financial terms were not disclosed.

Storewise, backed by Nexa Equity, has acquired MarginMAX to integrate vendor management and DSD pricing capabilities into its retail automation platform for independent grocers. The MarginMAX management team will join Storewise as the acquisition expands the platform’s visibility into store operations and strengthens pricing optimization across wholesaler and direct store delivery items; financial terms were not disclosed.

RF Investment Partners closed a growth capital (minority) investment in Watch Systems (d/b/a OffenderWatch), a Mandeville, Louisiana-based provider of cloud-based sex offender registration, verification and community notification software serving law enforcement and consumers. The funding will support OffenderWatch’s product development and footprint expansion to strengthen its public-safety platform and mobile offerings.

Shutterstock, Inc. entered into a definitive agreement to acquire TurboSquid, the world's largest 3D marketplace, for $75 million in cash. The acquisition expands Shutterstock's 3D, AR and VR content capabilities and integrates TurboSquid's marketplace and SaaS digital asset management offerings into Shutterstock's creative platform.

Primus Capital has recapitalized S&W Payroll Services, LLC (dba Netchex Online), a provider of a cloud-based HR and payroll SaaS platform. The investment will support Netchex's product expansion and geographic growth, with Primus joining the company's board to help guide its continued growth.