Strattam Capital sells Blacksmith Applications for $275m

Strattam Capital has sold Blacksmith Applications to Telus Corporation for $275 million.

Strattam Capital has sold Blacksmith Applications to Telus Corporation for $275 million. Blacksmith Applications is a SaaS technology company.

PRESS RELEASE

Austin, Texas– November 8, 2021 – Strattam Capital, a leading private equity firm that invests in founder-led, independent technology companies across North America, today announced that it has completed the sale of Blacksmith Applications to TELUS Corporation (TSX: T; NYSE: TU) for $275 million.

Strattam invested in Blacksmith in April 2016, partnering with Paul Wietecha, Founder & CEO, to support the expansion of the product suite in response to growing customer demand. Blacksmith was founded by Paul in 2000 to deliver trade spend transparency and enable profitable decision-making for CPG manufacturers. Strattam supported Paul throughout this period of extraordinary growth and development, and he successfully led the sale of the company to TELUS.

“It has been wonderful to see Blacksmith’s progress since our initial investment,” said Hilary Fleischer, Partner, Strattam. “Paul has been an exceptional partner, built a strong team, and delivered a solution that exceeds market expectations. We couldn’t be happier to be part of the growth at Blacksmith.”

“Blacksmith is a great example of the Strattam investment process at work”, said Adrian Polak, Co-Founder & Partner, Strattam. “We agreed on the Five-Point Plan with Paul prior to our investment, and we worked together to execute the plan. We’re proud of what we accomplished together and thank Paul for his partnership.”

Strattam was awarded the 2016 “Private Equity Deal of the Year ($25MM – $50MM)” by M&A Advisor for its investment in Blacksmith.

Harris Williams and Wilson Sonsini Goodrich & Rosati advised Blacksmith Applications on this transaction.

For additional information, please refer to the TELUS 6-K release which may be found by visiting https://www.telus.com/en/about/investor-relations/reports/quarterly-reports

About Strattam Capital
Strattam Capital invests in founder-led, independent, B2B software technology companies across North America. Headquartered in Austin, Texas, we connect companies with people, process, and scale needed to reach their potential. We believe in aligning with founders before signing, via our Five-Point Plan process, to allow for execution with purpose, excitement, and efficiency. For more information, please visit Strattam.com.