NEW YORK, March 13, 2018 /PRNewswire/ -- Togetherwork, the emerging leader in Group Management Software and Payments, announced today that GI Partners, a leading private investment firm, has acquired Togetherwork from Aquiline Capital Partners, a New York-based private equity firm investing in financial services and technology. Financial terms of the agreement were not disclosed.
"Our partnership with Aquiline Capital Partners has successfully allowed us to build out and scale our platform, enabling businesses acquired by Togetherwork to become larger and faster growing than they would have on their own," said Neil Platt, CEO of Togetherwork. "We are confident that under the new ownership of GI Partners, we will continue to focus on driving high quality integrated software and payments solutions and high customer satisfaction while deepening and expanding our reach into vertical markets."
Togetherwork has a family of entrepreneurial companies that provide SaaS solutions to groups and organizations for administration and payments. Togetherwork was launched by Aquiline as a platform to acquire, integrate and scale leading businesses developing software used to manage and enable payments for groups and organizations.
Vincenzo La Ruffa, Togetherwork Board member and Head of Financial Technology at Aquiline Capital Partners, added, "We are so proud of all that Togetherwork has accomplished since the platform was launched. They have quickly developed into a leader in this space and we believe the future is very bright for Neil and his team. We wish them continued success with GI Partners."
Travis Pearson, Managing Director at GI Partners said, "We have been impressed by Togetherwork's ability to acquire and develop high-quality businesses serving attractive member-based markets, the scale of its addressable market opportunity, and its ability to accelerate growth in its operating segments. We look forward to supporting the company's continued progress and rapid growth."
Togetherwork represents the third portfolio investment in GI Partners Fund V, a $2.8 billion fund raised in 2017. Kirkland & Ellis acted as legal advisor to GI Partners. Willkie Farr & Gallagher served as legal counsel and Harris Williams & Co. acted as financial advisor to Aquiline Capital Partners.
Togetherwork is the emerging leader in software and payments for groups and organizations of all kinds, helping them grow, become more efficient, increase revenues, and provide excellent service to their members and constituents. Togetherwork's operating companies serve multiple verticals including fraternal organizations, religious congregations, sports leagues, summer camps, charities, and cultural and educational institutions. Togetherwork has more than 300 employees. The company is based in New York City. To learn more about us, please visit: www.togetherwork.com.
About GI Partners
GI Partners is a private investment firm based in San Francisco. The firm has raised $16 billion in capital from leading institutional investors across the globe. GI Partners' private equity team focuses on investments in the IT Infrastructure, Healthcare, Software, and Services sectors. For more information on GI Partners and its entire portfolio, please visit: www.gipartners.com.
About Aquiline Capital Partners LLC
Aquiline Capital Partners, founded in 2005, is a private equity firm based in New York investing in businesses across the financial services sector in banking and credit, insurance, investment management and markets, and financial technology and services. For more information about Aquiline, its investment professionals, and its portfolio companies, please visit: www.aquiline.com.
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SOURCE GI Partners