Transaction marks K1’s seventh exit of 2024 and can contribute to over $2.9 billion in enterprise worth realized YTD
MANHATTAN BEACH, Calif., Oct. 28, 2024 /PRNewswire/ — K1 Funding Administration, LLC (“K1”), one of many largest traders in small-cap enterprise software program corporations, at this time introduced that its portfolio firm Irwin, a number one supplier of investor relations (IR) and capital markets software program, has entered right into a definitive settlement to be acquired by FactSet (NYSE: FDS | NASDAQ: FDS), a world monetary digital platform and enterprise options supplier. The transaction is predicted to shut within the coming weeks and marks K1’s second exit to a publicly traded strategic purchaser for the reason that summer season.
Since K1’s preliminary funding in 2021, Irwin grew income by 4x by introducing new merchandise akin to Irwin IQ, increasing into the European market, and securing key partnerships with teams akin to FactSet and New York Inventory Change. This development has constructed upon Irwin’s place as a frontrunner within the investor relations software program market, turning into a trusted resolution for corporations and their advisors to streamline investor engagement and relationship administration.
“We are proud to have been David Whyte and Mark Fasken’s lead institutional shareholder and to have partnered with them on Irwin’s transformation of the IR landscape,” stated Tarun Jain, Principal at K1. “Our focus at K1 is to be the largest investor in small, innovative, and rapidly growing software businesses globally, and helping build them into category leaders that transform their industries. The acquisition of Irwin by FactSet is a testament to the two co-founders, the platform they built and the strength of the partnership we had with them.”
Irwin’s resolution is utilized by IR professionals, who make the most of the platform for investor focusing on, shareholder monitoring, relationship administration, and engagement analytics. The acquisition by FactSet will proceed integrating Irwin’s investor relations platform with FactSet’s knowledge, analytics, and analysis workflows, aiming to supply company issuers and IR groups a unified, end-to-end resolution to handle their investor relations and capital markets efforts.
“The funding from K1 and subsequent partnership have been crucial for Irwin to scale as shortly as we did,” stated David Whyte, Co-Founder and CEO of Irwin. “K1’s strategic guidance and operational support “ as well as their domain experience in enterprise software “ have been instrumental in our growth trajectory and this ultimate sale to FactSet. We are excited for this next chapter in our journey and are confident Irwin will continue to see success under FactSet’s ownership.”
The sale of Irwin marks K1’s seventh realization in 2024, and the third sale to a strategic purchaser this 12 months. K1 has realized over $2.9 billion in enterprise worth year-to-date by means of notable exits together with GoCanvas (bought to Nemetschek Group, FRA: NEM) and Axcient (bought to ConnectWise, a Thoma Bravo portfolio firm).
About Irwin
Irwin empowers IR professionals with a purpose-built investor relations and capital markets platform. Our options combine knowledge and clever automation to streamline how groups uncover and join with traders, monitor shareholder adjustments, and handle each interplay. By centralizing knowledge and eliminating administrative duties, Irwin seeks to free IR groups to deal with strategic engagement and relationship constructing. Based and headquartered in Toronto, Canada, Irwin serves a world neighborhood of public corporations and their advisors who depend on our options to handle and improve their investor relations packages.
For extra info, go to www.getirwin.com or observe us on LinkedIn.
About K1
K1 is likely one of the largest traders in small-cap enterprise software program corporations. Headquartered in Manhattan Seashore, California, K1 companions with sturdy administration groups of high-growth software program companies, using operationally-focused development methods to scale portfolio corporations. Devoted to remodeling industries and driving productiveness, K1 has collaborated with over 240 enterprise software program corporations since inception.
K1’s unique focus, pushed by its single workforce, single workplace, and single fund technique, has resulted in realizations for a lot of of its portfolio corporations. Examples embrace Apttus (bought to Thoma Bravo), Axcient (bought to Connectwise, backed by Thoma Bravo), Buildium (bought to RealPage, NASDAQ: RP), Certent (bought to insightsoftware, backed by TA Associates and Genstar), Checkmarx (bought to Perception Companions and Hellman & Friedman), Clarizen (bought to Planview, backed by TA Associates and TPG Capital), FMG Suite (bought to Aurora Capital Companions), GoCanvas (bought to Nemetschek Group, FRA: NEM), Granicus (bought to Vista Fairness Companions and Harvest Companions), Inthinc (bought to Orbcomm (NASDAQ:), NASDAQ: ORBC), Litera (bought to Hg Capital), Rave Cell Security (bought to TCV; now owned by Motorola Options (NYSE:), NYSE: MSI), TeamDynamix (bought to Stage Fairness), Unified (now owned by iHeartMediam NASDAQ: IHRT), WorkForce Software program (bought to Perception Companions, now owned by ADP, NASDAQ: ADP) and Zapproved (bought to Exterro, backed by Leeds Fairness).
For extra info, go to k1.com and observe K1 Funding Administration on LinkedIn.
