New York-based SFW Capital Partners is selling AGDATA, a provider of agricultural data and IT solutions to Vista Equity Partners. Terms of the deal were not disclosed.
SFW will make a 3x return on the sale, according to sources familiar with the transaction.
SFW declined to comment on the deal.
SFW invested in AGDATA, which is based in Charlotte, North Carolina in 2010. Over the course of that investment, the company expanded internationally, and created the SaaS-based AgCelerate Industry Standard Platforms business unit.
SFW provides buyout capital and expansion capital to mid-sized companies. Investment size typically ranges from $15 – $75 million.
Earlier this year, Vista Equity Partners began fundraising and investing its fifth fund – Vista Equity Partners Fund V – with a $3.5 billion target and a $5.75 billion hard-cap. Vista held a first close for that fund in April on $3.8 billion, according to Private Equity International’s research and analytics division.
Known investors in the fund include the Teachers’ Retirement System of Louisiana, which committed $75 million in April, PEI reported at the time. Other limited partners in Fund V include the New Jersey Division of Investment and the Los Angeles County Employees Retirement System, both of which committed $200 million each to the fund in March.
Fund V will focus on investments in US-based technology companies with enterprise values of between $200 million and $3 billion.