Calero Software and MDSL Merge in Transaction Led by Oak Hill Capital and Riverside Partners

Calero-MDSL Acquires Network Control

August 2, 2022

Software

Calero-MDSL, a portfolio company of Riverside Partners and Oak Hill Capital, has acquired Network Control, a boutique Telecom Expense Management (TEM) and managed mobility provider headquartered in Waverly, Iowa. The deal brings Network Control's high-touch TEM team and operations into Calero-MDSL to accelerate growth in the mid-market; Mark Hearn, Network Control's owner and CEO, will join Calero-MDSL as Vice President and General Manager of the Network Control business unit.

Calero-MDSL Acquires MetaPort

April 20, 2021

Software

Calero-MDSL has acquired MetaPort, a telecom network mapping software provider, with MetaPort founder Andres Aguire joining the Calero-MDSL team. The acquisition adds network inventory visualization and mapping capabilities to Calero-MDSL's Technology Expense Management (TEM) platform, enabling improved network visibility, quicker onboarding and potential cost savings for enterprise customers.

SaaS Opportunity Capital Acquires Celera Systems

June 5, 2025

Software

Midwest-based private equity firm SaaS Opportunity Capital (SOC) has acquired Celera Systems, a Milwaukee-based provider of workflow and order/fulfillment software used by large financial services firms. SOC intends to expand Celera's platform beyond its historical bundled distribution model with Toppan Merrill, accelerate integrations (CRM, DAM), add AI capabilities, and bring the solution to a broader set of financial services and regulated-enterprise customers.

DMS, MontLake and MDO Merge to Form Waystone (MML-backed)

March 1, 2021

Financial Services

DMS, MontLake and MDO have been consolidated and rebranded as Waystone following growth and multiple transactions since MML Capital’s investment in August 2019. The combined business operates across eight jurisdictions with more than 320 employees and positions Waystone as a global governance, fund administration and third-party management platform for asset managers and institutional investors.

Celero Commerce Acquires Elmhurst Financial Services and Tandem Innovative Payment Solutions

June 18, 2019

Payments & Fintech

Celero Commerce acquired Elmhurst Financial Services and Tandem Innovative Payment Solutions to expand its distribution and technology capabilities for financial institutions and SMB merchants. The transactions strengthen Celero's payment processing, business management software, and technology offerings and extend its service footprint to approximately 25,000 merchants and ~$10 billion in annual payment volume.

Sumeru Equity Partners Leads $100M Strategic Investment in Ceros

July 23, 2020

Cloud & SaaS

Sumeru Equity Partners led a $100 million strategic growth investment in Ceros, a cloud-based interactive SaaS design platform, with participation from Ceros management and existing investors. The round closed in July 2020 and will support scaling the product, go-to-market efforts, and operational growth for the company.