Fullsteam has acquired Bethesda, Maryland-based Euclid Technology, a provider of AMS services. No financial terms were disclosed. Clearsight Advisors Inc has provided strategic and financial advice to Euclid on the deal. Fullsteam is backed by Aquiline Capital Partners.
MCLEAN, Va.–(BUSINESS WIRE)–Clearsight Advisors, Inc. (“Clearsight”) is pleased to announce another successful transaction in its market-leading Public Sector and Non-Profit Software Practices: Clearsight served as the exclusive strategic and financial advisor to Euclid Technology in its acquisition by Fullsteam. This transaction further demonstrates Clearsight’s position as the industry leader in advising Association Management Software (AMS) firms.
In May 2018, Aquiline Capital Partners, a New York-based private equity firm investing in financial services and technology, launched a new holding company, Fullsteam. Fullsteam’s mission is to acquire software and payments businesses across a range of vertical markets and drive increased growth and profitability through more efficient payments, capital investment and operational support. Euclid Technology is Fullsteam’s first acquisition in the association management industry.
Founded in 1997 and based in Bethesda, MD, Euclid is led by Charlie Vinal, who will remain with the company as part of the transaction. On working with Clearsight, Vinal remarked, “Clearsight was instrumental in the success of this transaction. With their extensive connections, they were able to quickly identify highly-qualified potential investors and acquirers. Their knowledgeable team walked us through every step of the process, and we closed the deal on time with the terms and value we sought.”
For more than 20 years, Euclid has provided innovative and comprehensive AMS services. Today, the company’s robust ClearVantage solution provides associations with highly-customizable member services, a powerful content management system for creating modern websites, and feature-rich event management services including custom-branded mobile apps. Euclid supports hundreds of associations throughout the United States and Canada.
Alex Johnston, Vice President at Clearsight Advisors, said of the transaction, “We continue to see robust demand for integrated payments technologies. AMS that provides real value to users (e.g., Euclid’s ClearVantage and MemberConnection products) is increasingly able to capture share in the payments value chain. We wish Euclid well in the next stage of their journey on the Fullsteam platform.”
“We enjoyed working with Charlie and his team toward a successful outcome. Over the last several years, Euclid has invested heavily in its technology to disrupt the status quo in the AMS sector. Building on its success in partnership with Fullsteam, Euclid is well-positioned to further harness the power of payments within its platform and lead the next wave of innovation in the sector,” commented John Rakowski, Director at Clearsight Advisors.
About Clearsight Advisors
Clearsight Advisors is an independent merchant banking firm dedicated to providing world-class M&A and capital raising solutions exclusively to growth-oriented Business Services and Technology companies. Clearsight combines deep market insights across software, services, and data. This market knowledge, combined with superior strategic and financial advice, allows Clearsight to act as a catalyst, enabling entrepreneurs, private equity owners, and Boards of Directors to successfully advance their vision. Clearsight Capital Advisors, Inc., a wholly owned subsidiary, is a registered member of FINRA & SIPC. For more information visit www.clearsightadvisors.com.