The Transaction Services Group (TSG), a portfolio company of Advent International, has acquired PerfectMind Inc., a leading provider of software and services for the Parks and Recreation industry, primarily in Canada and the United States. Financial terms were not disclosed.
Founded by Farid Dordar in 1998, Richmond, BC based PerfectMind is the creator of a leading-edge activity registration, facility booking, and membership management platform. PerfectMind’s software is used by more than 5,000 organizations in 21 countries.
Founded in 1994 in Auckland, New Zealand, TSG is a global provider of business management software, integrated payments, and value-added services to the Health and Fitness, Childcare and Education, and Boutique markets. TSG operates globally with offices in London (UK), Melbourne (Australia), Brisbane (Australia), Auckland, Tokyo (Japan), Phoenix (US) and San Diego (US).
Advent International acquired a majority stake in Transaction Services Group in June 2019.
PerfectMind is the second add-on acquisition by TSG under Advent ownership. In November 2019, TSG acquired York, UK based Legend Club Management Systems.
photo credit: PerfectMind – pre-covid-19 team photo
TSG Announces Acquisition of PerfectMind
TSG acquires leading health and fitness software provider, PerfectMind, creating an unrivalled offering for the Canadian and United States Health and Fitness markets
PerfectMind is the leader in the Parks and Recreation market in North America
BURNABY, British Columbia and LONDON, April 15, 2020 /PRNewswire/ — TSG, an Advent portfolio company and leading global provider of business management software, integrated payments, and value-added services to the Health and Fitness, Childcare and Education, and Boutique markets, today announced that it has acquired PerfectMind Inc., a leading provider of software and services for the Parks and Recreation industry, primarily in Canada and the United States.
Originally developed as a Martial Arts software solution, the PerfectMind platform is now the market leader in North America in the Parks and Recreation market. The PerfectMind cloud-based Parks & Recreation Management Software helps university campuses, sports centers, and recreation organizations of all sizes to grow their communities. A broad selection of modules allows the platform to scale and evolve over time with the needs of each client’s organization. The parks and recreation industry’s first platform as a service (PaaS) makes day-to-day operations simple, efficient and enjoyable. Worldwide, PerfectMind serves more than 500,000 users in 21 countries in the Health & Fitness market.
“We believe that our unique combination of software, integrated payments and value-added services allows our clients to do more of what they love. We want to take away the stresses and strains of their business processes and problems and allow them to focus on their customers,” said Davin Miller, CEO, Health & Fitness at TSG. “Bringing PerfectMind into TSG is consistent with our vision to empower passionate people around the globe. PerfectMind unlocks a unique opportunity to serve the Parks and Recreation industry as we add our integrated payments and value-added services for their clients.”
“Since we began in 1998, we had a vision to reinvent the way organizations help, grow, and connect to their communities. Today, that vision is a reality,” said Farid Dorhar, CEO and Founder. “PerfectMind has evolved into a powerful platform used by more than 5,000 organizations in 21 countries. We are dedicated to helping our clients develop a deeper relationship with the members of their communities and as a member of the TSG family we can continue to pursue our vision.”
“PerfectMind has built a market leading software platform that is well regarded in North America,” added Miller. “The combination of TSG and PerfectMind will enable us to deliver an innovative and compelling total business solution on a global basis. We are excited to join forces and welcome the PerfectMind family to TSG.” PerfectMind was advised on the transaction by Atlas Technology Group.
TSG, an Advent portfolio company, is a leading revenue management solutions company that provides business management software, integrated payments, and value-added services to clients around the globe. Committed to Empowering Passionate People, TSG offers highly differentiated, targeted solutions to a range of industries with focus on the health and fitness, childcare and early education, and boutique markets. These solutions operate across Australasia, North America, the United Kingdom, Europe and Asia. Today, TSG has three leading software solutions for the Parks and Recreations market: PerfectMind, Legend, and Links. For more information, visit: www.transactionservices.global.
PerfectMind Inc., based in beautiful British Columbia, is the creator of a leading-edge activity registration, facility booking, and membership management platform. PerfectMind’s software is used by more than 5,000 organizations in 21 countries. The enterprise-class software serves member-based organizations of all sizes across a broad range of markets, including municipalities, residents’ associations, school districts, academic institutions, and recreation centers. Small to medium-sized businesses like yoga studios, martial arts schools, and gyms across the world use the PerfectMind system to connect with their members and grow within their communities. For more information, visit: www.perfectmind.com.
ABOUT ADVENT INTERNATIONAL
Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 350 private equity transactions in 41 countries, and as of December 31, 2019, had $56.8 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 200 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. After 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies. For more information, visit www.adventinternational.com or www.linkedin.com/company/advent-international.
Source: Private Capital Journal