GI Partners has agreed to acquire a majority stake in Birmingham, Alabama-based Daxko, a provider of SaaS solutions to health and wellness organizations. No financial terms were disclosed. The deal is expected to close in the third quarter of this year.
PRESS RELEASE
GI Partners, a leading middle market private equity firm, announced today that it has agreed to make a majority investment in Daxko, the leading provider of SaaS solutions to member-based health and wellness organizations in North America.
Headquartered in Birmingham, AL and founded in 1998, Daxko provides SaaS solutions to organizations including YMCA/YWCAs, JCCs, health clubs, wellness centers and recreation facilities. The Company’s products help more than 1,200 organizations manage their scheduling and daily operations, member management and engagement, accounting, event registration, payment services, and mobile applications.
Daxko represents the eighth portfolio investment in GI Partners Fund IV, a $2 billion fund raised in 2014. The investment is subject to closing conditions, including regulatory approvals, and is expected to be completed in the third quarter.
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