Introducing a Terminus Capital Partners newsletter.
Terminus Capital Partners
B2B software private equity firm with a distinctive focus on operations and growth
Email is getting excessive and everyone’s time is valuable, so we’ll stick to providing the most critical updates on our firm, portfolio, and the biggest goings-on we see in the market. And we’ll iterate continuously to make and keep this valuable to you.
Here’s to new beginnings!
-Garret, Alex and team
Acquisition Announcement
TCP Portfolio company Delta Data acquires Phoenix Systems to expand its market leadership in pooled fund software, and to expand into Canada and the EU.
Despite total PE deal activity being down nearly 10% for the second straight year, TCP is excited to have completed its third deal LTM with Phoenix Systems in Q1 '24.
Refresher on TCP
Terminus Capital Partners is a growth-oriented, private equity firm focused on business software companies, founded in 2017 and based in Atlanta, GA. Differentiated by its industry expertise, sourcing engine, operations playbook, and buy-and-build methodology, Terminus strives to be the premier partner for capital providers, bankers, and management teams in the enterprise software sector.
Why TCP?
We actually help. More than half of our team are former operators and experts in their functional areas from sales & marketing to engineering. We're not hand-wavers, we're doers.
We drive add-on acquisitions soup to nuts. Historically we've averaged 2-3 transformative add-on acquisitions per platform, and we do all the work sourcing and executing.
Single-LP evergreen fund. Our evergreen fund and broad mandate lets us structure unique investments that are best for each business we build, flexibility management teams don’t find elsewhere.
Our Investment Focus
Majority investments (not minority)
Enterprise/b2b software
$10m-$30m in ARR for platforms ($2m+ for add-ons)
Positive EBITDA (breakeven cash flow, or getting there quickly)
Majority recurring revenue
Positive organic growth
North America-based for platforms
Nichey markets and use cases, e.g. vertical market software
Thank you!