Spotlight
View All Spotlights
Brightree
Brightree: Fueling Growth Through Accretive Acquisitions
Sector: Software & ServicesStage: Growth
Location: Duluth, GA
View company profile
Situation
- Founder had transitioned operations of business to new management team and wanted to sell his portion of the business
- Battery acquired the founder shares for 70% ownership stake;Management team rolled its 30%
The Battery Difference
- Supported organic growth with investment in new product development and sales resources
- Recruited additional management to drive company growth, including 6 key executives
- Continue to act as in-house Corporate Development arm: define acquisition strategy, research targets and execute transactions; To-date have executed multiple accretive acquisitions
Results
- Strong organic growth of 50%
- Closed first acquisition within first 6 months of Battery investment: bought a complementary billing services business for $300k that has grown to $10M in revenue
- Acquired two legacy software competitors for <5X EBITDA; Successfully transitioned the customer bases over to the Brightree platform at a higher revenue per customer
- Have grown revenue 5X and EBITDA 10X since initial investment