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.