|
Back to News
& Events
Follett Software Company Acquires Sagebrush Corporation
Library automation software company is sold to education products distributor
July, 2006 | Minneapolis, MN |
TripleTree, LLC announced that Sagebrush Corporation, a leading provider of library automation software to the K-12 education market, was sold to Follett Software.
Follett is a $2 billion privately-held education company based in Chicago that operates more than 700 campus bookstores throughout the U.S. and Canada. The company's business groups, which reach about 60 countries, also provide books and audiovisual materials to grade school and public libraries, library automation and management software, textbook reconditioning, among other services. Follett’s acquisition includes Sagebrush’s library automation and technology businesses. The text book distribution and services to K-12 school libraries was spun out into a new company, Savia LLC, as part of this transaction.
The merger unites two successful companies that focus on improving learning outcomes through effective and efficient uses of information resources. “Follett and Sagebrush share a strong commitment to customers and innovation and we are pleased that, in this manner, Follett will be meeting the future needs of our library automation customers,” said Jim Zicarelli, former CEO of Sagebrush.
TripleTree, a research-based investment banking firm, acted as the financial advisor to Sagebrush. This is not the first time Sagebrush retained TripleTree. In 1998 TripleTree negotiated Sagebrush’s acquisition of Nichols Software and in 2000 assisted Sagebrush in the purchase of Winnebago Software Company. These acquisitions allowed Sagebrush to develop a leadership position in library automation software with an excellent reputation for its products and services, and a strong recurring revenue base.
“The education industry is experiencing some of the same consolidation trends that we are seeing in our other technology and services markets,” says TripleTree co-founder and Managing Partner Dave Henderson. Having managed at least a half dozen engagements in the industry, Henderson says that this combination was very compelling for both companies and creates a clear leader in a very attractive segment of the education market.
To read a case study on this transaction, please go the Engagement section of our website or click here.
TripleTree, LLC is a research-based investment bank serving growth companies, investors and global acquirers. TripleTree conducts proprietary research that guides our work in M&A, growth capital and financial advisory services. Our value-based approach benefits technology-enabled businesses in sectors where delivery models are converging technology and services, and all sectors where CEO’s and investors are in search of creative ways to disrupt markets and unleash value.
TripleTree’s unique personality is shaped by the experience of our principals who as former business builders and transaction professionals create strategic outcomes that maximize value for our clients. The firm is located in Minneapolis. |
Top
|
