Vista Equity sells majority of Sovos Compliance

HgCapital has acquired a majority stake in Sovos Compliance. Financial terms weren’t announced. Vista Equity Partners was the seller. Wilmington, Massachusetts-based Sovos provides tax compliance software. Shea & Company acted as the exclusive financial advisor to Sovos/Vista.

PRESS RELEASE

We are pleased to congratulate our client, Sovos Compliance, on its pending majority investment from HgCapital. Sovos is a leading provider of regulatory tax compliance software that helps businesses meet the demands of their unique tax compliance and reporting obligations. Shea & Company acted as the exclusive financial advisor to Sovos and its owner, Vista Equity Partners, on the transaction.

Sovos is a global provider of taxation compliance solutions, managing all aspects of the tax compliance process including tax calculation, forms completion, ultra-high-volume filing and secure funds transfer to state and local revenue departments. At the heart of the Sovos software suite is a powerful tax calculation engine that leverages the industry’s most comprehensive repository of more than 210 million tax rules in 13,500 plus jurisdictions across more than 200 countries. Sovos has approximately 650 employees and is headquartered in Wilmington, Massachusetts, with offices in Argentina, Amsterdam, Boulder and Minneapolis. For additional information on Sovos or the transaction, visit our website or the HgCapital press release.

Shea & Company is a boutique investment bank that believes focus underpins success, and success is measured by the outcomes we achieve for our clients. We have offices in Boston and San Francisco, and work globally with the emerging and established leaders of the software industry. Our team provides comprehensive and objective advice on strategic and financial matters that impact the ultimate success of our clients. The transaction marks Shea & Company’s seventh private equity-led transaction in the last 12 months.