Firmex acquisition by U.S.-based Datasite

Industry: High Tech - Products & software

Firmex acquisition by U.S.-based Datasite
Closing Date: July 23, 2021

On July 23, 2021, CapVest Partners LLP, an international private equity investor, and its portfolio company Datasite LLC ("Datasite"), completed the acquisition of Toronto-based Firmex Inc. ("Firmex"), a virtual data room and subscription file-sharing provider.

Datasite acquired 100 per cent of Firmex from its majority shareholders Vertu Capital and BDC Capital, the investment arm of the Business Development Bank of Canada. As part of the deal, Firmex’s management team and all of its 115 employees will remain in Toronto and continue to operate as a standalone platform. The deal value is confidential.

Based in Minnesota, Datasite is a SaaS-based technology provider for global mergers and acquisitions (M&A) professionals. Datasite was acquired by CapVest in 2020.

Founded in 2006, Firmex is a global provider of virtual data room and secure document sharing solutions, supporting complex processes for organizations, including diligence, compliance and litigation. Firmex serves over 4,200 companies in 110 countries, including global financial institutions, law firms and governments.

Bennett Jones LLP was Canadian transaction counsel to the purchasers CapVest and Datasite, with a team led by
James McClary,
John Mercury,
and including
Lucas Stevens-Hall,
Christopher Travascio,
Thomas Hughes (corporate),
Melanie L. Aitken,
Adam Kalbfleisch,
Zee Derwa (competition),
Adam Taylor (banking),
James Morand,
Blake Haarstad (tax),
Giovanna Campagna (real estate),
Jeilah Chan,
HC Lee (IP),
Jordan Fremont (pensions),
Ruth Promislow (privacy),
Matthew Flynn (information technology),
Talia Bregman (employment).

Kirkland & Ellis LLP was U.S. counsel and U.K. antitrust and regulatory counsel to CapVest and Datasite with a team including
Abhishek Kolay,
Carlos Gil Rivas,
Leo Greenberg,
Colin Zelicof (corporate),
Polina Liberman (tax),
Michael Thorpe,
Shane Cranley,
Luci Hague (antitrust).

BDB Pitmans LLP was U.K. corporate and employment counsel to CapVest and Datasite with a team including
Tim Hayes (employment),
Oliver Pilkington (corporate),
Zoe Merrikin (real estate).

Goodmans LLP was counsel to Firmex with a team including
Jamie Firsten (corporate),
Michelle Vigod (corporate),
Laura Corridore (corporate),
Jarrett Freeman (tax),
Danielle Palter (corporate).