Carrick Capital portfolio companies announce three deals

LexisNexis has formed a joint venture with Axiom, a portfolio company of Carrick Capital via an investment in Axiom spin-off Knowable, a provider of enterprise contracts intelligence. Also, Permira has made a “significant” investment in Axiom and is now the majority owner of the legal services provider. And, JPMorgan Chase has closed its acquisition of Carrick portfolio company InstaMed, a U.S. healthcare technology company that specializes in healthcare payments. No financial terms were disclosed.

PRESS RELEASE

SAN FRANCISCO and NEWPORT BEACH, Calif., Oct. 31, 2019 /PRNewswire/ — Carrick Capital Partners, an investment firm focused on Software, SaaS, transaction processing, and technology-enabled services companies, today announced the completion of three portfolio company sales in the most recent quarter.

“At Carrick we apply repeatable process improvement in software and the tech-enabled business services sector to help scale great companies that will positively impact the industry landscape,” explained Carrick Capital Partners Co-Founder and Managing Director Marc McMorris. “We are very pleased with the favorable returns on invested capital generated for our limited partners,” McMorris added.

LexisNexis announced an agreement with Carrick portfolio company Axiom to form a joint venture through a LexisNexis investment in Axiom spin-off Knowable, a market leader in enterprise contracts intelligence.

JPMorgan Chase & Co. announced the close of its acquisition of Carrick portfolio company InstaMed, a leading U.S. healthcare technology company that specializes in healthcare payments.

Permira, the European private equity firm known for its investments in professional services businesses, closed a significant investment in Axiom and became the majority owner of the legal services provider.

“Carrick has been a great partner. Their encouragement and business advice were invaluable to Axiom in getting to this level,” said Axiom Founder and Executive Chairman Mark Harris. “They had as much faith in our potential as we did, and they had the business experience and networking savvy to help us achieve it,” he emphasized.

“We believe that our deep experience coupled with a proven process improvement methodology and broad networks benefit each company and contribute significantly to the positive economic outcomes in our portfolio,” said Carrick Capital Partners Co-Founder and Managing Director Jim Madden. “Over the past year, we have increased the size of our professional team by 50%. This allows us to further leverage our repeatable process improvement model to technology companies operating in numerous industries. We see great opportunities for our model in the healthcare and financial services sectors, to name just a few,” Madden concluded.

About Carrick Capital Partners
Headquartered in San Francisco and Newport Beach, Carrick Capital Partners is a growth-oriented investment firm that utilizes ABV (Approach to Building Value) to operationally scale fast-growing, technology-enabled businesses. Carrick adds value by taking a concentrated approach and dedicating significant resources post-investment. Leveraging decades of experience, Carrick helps scale great companies that deliver excellent returns for investors, stimulating economic growth and positively impacting the industry landscape. Working directly with CEOs and entrepreneurs, Carrick fulfills a vital need for investment capital and growth expertise. For more information, please visit www.carrickcapitalpartners.com.