Marlin Equity preps sale of Logi Analytics

The process hasn’t officially kicked off, but is expected to launch soon.

Marlin Equity is preparing to sell Logi Analytics, a software provider of embedded analytics, after receiving inbound interest, sources familiar with the matter told PE Hub.

The process hasn’t officially kicked off, but is expected to soon launch, the people said.

Macquarie will act as sell-side financial adviser on the process, the sources said.

Logi Analytics, based in McLean, Virginia, is a developer-grade analytics platform focused exclusively on embedding analytics in commercial and enterprise applications. The company also has offices in Ireland and England.

Logi produces between $40 million and $50 million of annual recurring revenue, the people said. The company’s EBITDA is unclear.

Marlin Equity originally invested in the company in October 2017. The firm since that time has grown Logi through multiple add-on acquisitions.

Last year, Logi acquired Zoomdata, an analytics platform for big data and live streaming data.

In 2019, Logi  acquired Jinfonet Software, a provider of embedded pixel-perfect operational reporting and the maker of JReport. Before the acquisition, Logi and Jinfonet directly competed for the title of the top provider of embedded analytics solutions.

The company recently went through a senior management reshuffling. This month, the company’s COO Kevin Greene was promoted to CEO. Logi’s previous CEO, Steven Schneider, assumed the role of executive chairman and will continue serve on Logi’s board.

Kevin Greene first joined Logi in 2013 as vice president of business development and then moved into the COO role in May 2017. Prior to that, he worked as a partner at Valhalla Partners, a venture capital firm in Vienna, Virginia.

Marlin Equity did not return PE Hub’s request for comment. Logi and Macquarie declined to comment.

Action Item: See Marlin Equity’s recent form ADV here.

Update: The story was updated to reflect additional reporting on Logi Analytics’ financials.