Lazard Middle Market Advised
Zywave, Inc.
in its Investment Partnership with Vista Equity
Partners
TRANSACTION
DESCRIPTION
Lazard Middle Market advised Zywave, Inc. in
its strategic investment partnership with Vista Equity Partners. Zywave is a
leading provider of software-as-a-service (SaaS) enterprise automation
solutions for the employee benefits and property & casualty (P&C)
insurance distribution industry.
TRANSACTION HIGHLIGHTS
Through a strategic
partnership with Vista, Zywave’s current management team will continue to
lead the organization from its Milwaukee headquarters, and, along with
current shareholders, will continue to hold a substantial equity interest
in the company going forward.
"Zywave is a great company with
tremendous potential and truly world-class customers and employees,”
commented Zywave Chairman and CEO William R. Haack. “Lazard Middle Market
did a tremendous job advising us and identifying potential partners that
could provide the type of strategic and operational support for our
leadership team that would enable us to realize that potential.
Lazard helped guide us through this process to the finish line during a
very challenging global economic period," Haack said.
Jim Clancy,
a Managing Director at Lazard Middle Market added, “Zywave was highly
sought after because of its best in class software solutions, large
customer base, and its talented and devoted employees. We expect Vista and
Zywave management will partner extremely well and together will instill
even stronger best practices that are essential for product innovations,
excellence in customer service, and long-term value
creation.”
Vista, a San Francisco-based private equity firm with
over $2 billion in committed capital, focuses on vertically specialized
software and technology-enabled businesses with proven track records of
success. Vista Founder and Managing Principal Robert F. Smith said, "We
are long-term investors in software businesses that deliver solutions to
their customers, which drive value creation and productivity enhancements
for the customer. The management team of Zywave has built a very
impressive business, and we are tremendously excited to partner with them
to continue their track record of success and pursue several new exciting
opportunities. Our success at Zywave will ultimately be based on the
success of our customers, and the strong value proposition that Zywave’s
products and services bring to their businesses."
THE COMPANY
Zywave, Inc. (www.zywave.com), headquartered in
Milwaukee, Wis., is a leading provider of SaaS enterprise automation
solutions for the employee benefits and P&C insurance distribution
industry. The company’s solutions include technology-enabled content and
communication, agency automation, and business intelligence and analytics,
designed to help insurance brokers of all sizes gain profitable market
share. With nearly 1,000 customers including a majority of the Top 100
agencies, Zywave’s applications help brokers more easily and successfully
sell and service new and existing customers while improving their agencies
own internal productivity.
THE
INVESTOR
Vista Equity Partners (www.vistaequitypartners.com)
is a leading private equity firm that invests in dynamic, successful
technology-based organizations led by world-class management teams with a
long-term perspective. With over $2 billion in committed capital, Vista is
a value-added investor, contributing professional expertise and
multi-level support toward companies realizing their full potential.
Vista’s investment approach is anchored by a sizable long-term capital
base, experience in structuring technology-oriented transactions, and
proven management techniques that yield flexibility and opportunity in
private equity investing. Vista seeks to align the interest of clients,
management, and shareholders and focuses on the operational processes and
best practices that are critical for long-term value creation.
ABOUT LAZARD MIDDLE MARKET
Lazard Middle Market
LLC (www.lazardmm.com), a subsidiary
of Lazard Ltd (NYSE:LAZ), provides advice on mergers and acquisitions,
restructuring, and financings to the middle market. Lazard Middle Market’s
approximately 100 investment bankers operate from offices in
Minneapolis, New York, Chicago, Charlotte and Los Angeles with
full access to the industry expertise, senior board-level relationships,
and local perspectives of Lazard’s bankers in 41 cities
across 24 countries in North America, Europe, Asia,
Australia, and Central and South America.
If you would like more information about this
transaction, please contact:
Jim Clancy
james.clancy@lazardmm.com
612-339-0500
