- Key building block in Silverback’s strategy for building out a SaaS PPM leader.
- Deal put new firm Silverback “on the map” when Tenrox announced simultaneously with Power Steering.
- Combined entity: 500 customers and 150,000 active users.
Overview
On February 15, 2012, private equity firm Silverback acquired Tenrox, a Montreal-based provider of cloud project workforce management solutions.
Highly complex cross-border transaction complicated further by simultaneous merger with Silverback portfolio company Power Steering Software.
Significance
Catapult’s role
- Assisted Silverback in evaluating over 30 potential targets before deciding that Tenrox represented the best fit.
- Worked side by side with Silverback throughout the term sheet, diligence, documentation and closing processes.
- Acted as Silverback’s prime point of contact in all discussions.
“Catapult Advisors was a tremendous partner to work with, from the start of the project, through the finish. Their deep understanding of the software landscape and their extensive transaction expertise were huge assets to the Silverback team. We look forward to working with Catapult again in future as we grow our business.”
