Togetherwork, the emerging leader in Group Management Software and Payments, announced today that GI Partners, a leading private investment firm, has acquired Togetherwork from Aquiline Capital Partners, a New York-based private equity firm investing in financial services and technology. Financial terms of the agreement were not disclosed.
“Our partnership with Aquiline Capital Partners has successfully allowed us to build out and scale our platform, enabling businesses acquired by Togetherwork to become larger and faster growing than they would have on their own,” said Neil Platt, CEO of Togetherwork. “We are confident that under the new ownership of GI Partners, we will continue to focus on driving high quality integrated software and payments solutions and high customer satisfaction while deepening and expanding our reach into vertical markets.”
Togetherwork has a family of entrepreneurial companies that provide SaaS solutions to groups and organizations for administration and payments. Togetherwork was launched by Aquiline as a platform to acquire, integrate and scale leading businesses developing software used to manage and enable payments for groups and organizations.
Vincenzo La Ruffa, Togetherwork Board member and Head of Financial Technology at Aquiline Capital Partners, added, “We are so proud of all that Togetherwork has accomplished since the platform was launched. They have quickly developed into a leader in this space and we believe the future is very bright for Neil and his team. We wish them continued success with GI Partners.”
Travis Pearson, Managing Director at GI Partners said, “We have been impressed by Togetherwork’s ability to acquire and develop high-quality businesses serving attractive member-based markets, the scale of its addressable market opportunity, and its ability to accelerate growth in its operating segments. We look forward to supporting the company’s continued progress and rapid growth.”
Togetherwork represents the third portfolio investment in GI Partners Fund V, a $2.8 billion fund raised in 2017. Kirkland & Ellis acted as legal advisor to GI Partners. Willkie Farr & Gallagher served as legal counsel and Harris Williams & Co. acted as financial advisor to Aquiline Capital Partners.