Money Moves: With acquisition, DC's EveryAction is now part of a social impact-focused SaaS company valued at $2B - Technical.ly DC

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Money Moves: With acquisition, DC’s EveryAction is now part of a social impact-focused SaaS company valued at $2B

Plus, Galway Sustainable Capital gets a huge boost from Oaktree, and a look at local firms that made a huge government contracting splash in July.

Business deals are happening in the D.C. area.

(Photo by Flickr user visitBerlin, used under a Creative Commons license)

EveryAction, a DC-based software platform for fundraising, nonprofits and donors, was acquired this week by Apax Partners, a global investment firm.

EveryAction, which Apax acquired from Insight Partners, will be combined with Austin, Texas-based public sector and nonprofit software provider Social Solutions, which Apax also acquired from Vista Equity Partners. The pair will be combined with corporate philanthropy software provider CyberGrants, another recent acquisition, to create software-as-a-service solutions for social good, Apax said. The combined companies have an enterprise value of $2 billion and combine revenue value of $200 million annually.Vista will retain a stake with the deal.

According to Apax, the combined company will be the second largest social good software company in the world.

“The social good community will benefit from this combination of best-in-class solutions, and by connecting nonprofits with a large network of givers,” said Stu Trevelyan, CEO of EveryAction, in a statement

EveryAction previously had an acquisition streak of its own, scooping up Blue State Digital, ActionKit and DonorTrend in a matter of six weeks in 2019.

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Massachusetts-based real estate company Boston Properties (BXP) is making moves to the DMV with the purchase of the Shady Grove Bio+Tech campus in Rockville, Maryland.

The campus currently consists of seven buildings, equaling about 435,000 square feet across 31 acres. Boston Properties will be the sole owner of the development. According to a statement from the company, it plans to convert existing office buildings into Class A lab space, with construction to begin after closing, which is expected sometime this quarter.

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“Suburban Maryland benefits from existing dynamics that provide a strong foundation for growth in the life science industry,” said Pete Otteni, senior VP and co-head of the DC region for Boston Properties, in a statement. It echoes a sentiment we’ve heard often in recent months. “Growing demand, combined with limited supply, make Montgomery County, Maryland, and this cluster in particular, an attractive opportunity for BXP to expand its life sciences presence. We look forward to using our life sciences expertise and real estate skills to transform the property into a leading life sciences campus in the region.”

Boston Properties also owns space in multiple areas of Massachusetts, as well as San Francisco.

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Los Angeles venture capital firm Oaktree made a $265 million investment in July into D.C.’s Galway Sustainable Capital (GSC), a finance company investing in sustainability projects.

Through the deal, GSC now has a multi-year, multi-tranche credit facility with Oaktree via a minority equity investment. The company, which was founded in 2020 and funded by Cordillera Investment Partners, provides full stack debt and equity capital for companies and projects that are eco and socially-conscious.

With the new funding, GSC said it is in a strong position to provide funding for green infrastructure projects across the country.

“We are pleased to expand our GSC partnership to include Oaktree to help us scale our business and broaden our reach,” said Jennifer von Bismarck, CEO and cofounder of GSC, in a statement. “Oaktree’s team has an outstanding track record of building successful financial institutions. With their infusion of capital and alignment around our ESG goals we look forward to growing this platform to its full potential while accelerating the transition to greater resilience and sustainability.”

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Here’s what other money is moving around the DMV: 

  • DC’s Evolent Health agreed to acquire New Jersey-based health consultant Vital Decisions, a WindRose portfolio company, for $85 million, with an additional earn out of up to $45 million.
  • Sands Capital, which is based in Arlington, Virginia, closed its second Life Sciences Fund, raising $560 million. This boosts its total assets, which are invested back into life science technologies, to $950 million. The company is already in the midst of another raise.
  • Alexandria, Virginia-based VSE Corporation acquired Global Parts Group, a distributor in the aviation technology industry, for $38 million in an all-cash deal.
  • In a round led by the Maryland Momentum Fund, Bethesda, Maryland-based thermal insulation startup Liatris raised $1 million.

Plus, check out a few notable government contracts for DMV firms:

  • Chantilly, Virginia-based Peraton landed a contract from the Department of Veteran Affairs for infrastructure as a managed service for storage and computing in infrastructure facilities. The contract is worth $497 million over a seven-year period.
  • Leidos, a Reston, Virginia-based information technology and engineering company, was awarded a $600 million contract to support the Army’s Geospatial Center.
  • Armaments Research Company, based in DC, was awarded a five-year, $60 million contract with the Department of Defense to continue developing its AI-based weapon sensing technology.
  • CACI International nabbed a contract from the Department of State’s Bureau of Diplomatic Security to upgrade and modernize its information systems. The five-year contract is worth $96 million for the Reston, Virginia, company.
  • Dulles, Virginia-based systems engineering company Technica Corporation was awarded a $43 million contract to support the Air Force Air Combat Command Intelligence Directorate.
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