Ascend Advises Intelligenz in its Acquisition by Banyan Software

This partnership allows Intelligenz to expand its product capabilities and customer base under Banyan’s guidance, increasing market share in the recreation and facilities management space.

WASHINGTON, DC (December 12, 2023)  Ascend Capital Group is pleased to announce its most recent transaction of an enterprise resource platform, serving as the exclusive financial advisor to Intelligenz, a leading developer of world-class solutions for recreation and leisure, on its acquisition by Banyan Software, a portfolio company of Norwest Venture Partners, that offers a permanent home for successful enterprise software companies. Banyan will scale and grow Intelligenz, allowing it to continue to thrive with Banyan’s operational support and expertise.

“Our preferred sale transaction structure was highly complex and we needed a trusted advisor who acutely understood the market and could navigate our unique requirements,” said Intelligenz COO Tim Godwin. “The Ascend team delivered on everything we asked, innovatively presenting Intelligenz’s growth potential to a diverse set of buyers to create significant interest and drive multiple offers to achieve an optimal outcome for all parties involved.”

Intelligenz develops applications for managing facilities, bookings, memberships, recreation management, point-of-sale, and payment software for municipalities, universities, and recreation centers in Canada, Australia, USA, NZ, the UK, Europe, and Asia. The platform is uniquely positioned to allow municipalities, universities, and recreation centers to efficiently scale and meet shifting market dynamics by providing self-service functionalities while reducing administrative burden.

Banyan Software provides its resources and expertise to develop long-term relationships with software companies, buying and holding companies to grow them for life. Banyan’s depth and breadth of experience supporting enterprise software companies allowed it to rise above a considerable group of potential acquirers, demonstrating the team’s value-add and cultural fit with Intelligenz.

Ascend Managing Director DJ Palmer commented, “Intelligenz is a rare, feature-rich platform with a powerful payments solution that continues to attract customers across multiple geographies and end markets. As the company embarks on this new partnership, they will benefit tremendously from Banyan’s expertise and resources as the team pursues accelerated growth.”

The transaction was effective October 24, 2023.

Contact

Douglas Palmer, Jr. (“DJ”)

dpalmer@ascendcg.com | 703.509.2845

Our preferred sale transaction structure was highly complex and we needed a trusted advisor who acutely understood the market and could navigate our unique requirements. The Ascend team delivered on everything we asked, innovatively presenting Intelligenz’s growth potential to a diverse set of buyers to create significant interest and drive multiple offers to achieve an optimal outcome for all parties involved.

About Intelligenz
About Intelligenz

Intelligenz is an innovative, cloud-hosted, and client-server-based recreational booking and management software platform built for municipalities, parks and recreation centers, and universities to manage facilities, bookings, and operations. From its customer-facing web portal and powerful booking engine to its financial management and payments modules, Intelligenz delivers a fully integrated platform that helps promote efficiencies across all staff and facilities, provides seamless booking experiences and access to critical information, and manages all aspects of operations from a single interface. Currently serving more than 30 major municipalities and universities and over 10,000 facilities across North America, Intelligenz’s end-to-end platform is both flexible and scalable, capable of simplifying the most complex processes and enhancing visibility across municipalities with populations ranging from 5,000 to over 1.4 million. For more information on Intelligenz, please visit intelligenz.global.

About Banyan Software, Inc.
About Banyan Software, Inc.

Banyan Software provides the best permanent home for successful enterprise software companies, their employees, and customers. With a permanent capital base set up to preserve the legacy of founders, Banyan focuses on a buy and hold for life strategy for growing software companies. Founded in 2016, Banyan is backed by a world-class group of CEOs and investors with deep technology experience and currently operates across a growing number of verticals. For more information on Banyan Software, please visit banyansoftware.com.

About Norwest Venture Partners
About Norwest Venture Partners

Norwest is a leading venture and growth equity investment firm managing more than $12.5 billion in capital. Since its inception, Norwest has invested in more than 650 companies and currently partners with more than 200 companies in its venture and growth equity portfolio. The firm invests in early- to late-stage businesses across a wide range of sectors with a focus on consumer, enterprise and healthcare. The Norwest team offers a deep network of connections, operating experience, and a wide range of impactful services to help CEOs and founders scale their businesses. Norwest has offices in Menlo Park and San Francisco, with subsidiaries in India and Israel. For more information Norwest, please visit nvp.com.

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