Harris Williams & Co. Advises Pamlico Capital on the Recapitalization of Daxko, Inc. with GI Partners
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide for 25 years, has advised Pamlico Capital (Pamlico) on the recapitalization of Daxko, Inc. (Daxko) with GI Partners. Daxko is a leading provider of operations and financial management software for member-based fitness facilities and other health and wellness organizations. Harris Williams & Co. served as the exclusive advisor to Pamlico. The transaction was led by Jeff Bistrong, Tyler Dewing, Priyanka Naithani and Brennan Igoe of Harris Williams & Co.’s Technology, Media & Telecom (TMT) Group.
“Daxko's deeply experienced management team has demonstrated strong market leadership and is well poised to continue scaling the business. We are pleased to have advised Pamilco on another successful outcome,” said Jeff Bistrong, a managing director at Harris Williams & Co.
"Software used to manage member communities with integrated CRM, ERP and payment solutions has been a focus among investors recently and we have been fortunate to work with multiple sector leaders across distinct verticals," added Tyler Dewing, a director at Harris Williams & Co. "During its partnership with Pamlico, Daxko successfully executed acquisitions and internal product development to retain and grow its customer base while significantly expanding the company's addressable market, contributing to an exciting opportunity that resonated with GI Partners."
Headquartered in Birmingham, Alabama, Daxko is a leading provider of mission critical software to member-based health and wellness organizations. Daxko helps both non-profit and for-profit fitness facilities achieve high levels of operational efficiency, deliver strong fiscal management and engage their members in meaningful ways. Daxko employs 195 team members across the Southeastern U.S.
Pamlico is a private equity firm founded in 1988 that invests in growing middle market companies in the U.S. Pamlico seeks control-oriented growth equity and buyout investments of up to $100 million alongside proven management teams in its target industries: business and technology services, communications and healthcare. Since inception, the firm, based in Charlotte, North Carolina, has invested over $2.5 billion.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
Harris Williams & Co.’s TMT Group advises leading private and public companies, entrepreneurs, private equity firms and venture capital firms on mergers and acquisitions and capital-raising transactions worldwide. The TMT Group has deep domain expertise in the Software/SaaS and Internet & Digital Media segments, with particular emphasis on specific verticals including education, energy technology, fintech, public sector and supply chain/logistics and has a dedicated healthcare technology (HCIT) practice. Across verticals it also advises technology services and networking solutions businesses. For more information on the TMT Group and its recent transactions, visit the TMT Group’s section of the Harris Williams & Co. website.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.