apexanalytix
Business Services
apexanalytix is a leading provider of supplier management, audit, recovery and compliance software and services.
Fund V
Location Greensboro, NC
Year of Investment 2020
CEO Steve Yurko
Status Exited 2022 (Partial)
Results
Revenue increase of
since close of 2020 transaction
EBITDA increase of
since close of 2020 transaction
EBITDA margin increase of
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?
Fund IV
Location Greensboro, NC
Year of Investment 2014
CEO Steve Yurko
Status Exited 2020
Results
Increased revenue from SaaS solutions
since 2014
Increased EBITDA by
during Carousel's hold period
Added
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?
“
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
Note: The above testimonial is provided by a current or former Carousel Capital portfolio company executive and reflects their own personal opinion and is provided to demonstrate the benefits of working with the Carousel Capital team and is not provided to solicit investors or to illustrate investment experience with Carousel Capital. The executive was not paid for their testimonial but receives compensation in other forms such as the making of personal investments in Carousel Capital funds, including certain funds at reduced fee rates. A potential conflict of interest exists because an executive is generally incentivized to make positive statements to maintain goodwill with Carousel Capital.
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August 18, 2020
Carousel Capital Sponsors New Investment in apexanalytixJuly 25, 2014
Carousel Capital Leads Acquisition of APEX Analytix