D.A. Davidson Advises Leading Sell-Side CRM Provider, Tier1 CRM, on Its Sale to SS&C Technologies

NEW YORK--(BUSINESS WIRE)--D.A. Davidson & Co. announced today that it has served as the exclusive strategic and financial advisor to Wavecrest Growth Partners-led Tier1 CRM, a global leader in deal management and compliance solutions, on its sale to SS&C Technologies Holdings, Inc., (NASDAQ: SSNC) a multinational holding company that provides software and services to customers across the financial services industry.

Tier1 CRM is a best-in-class provider of sell-side CRM, deal management, and event management software for enterprises across equity research, sales and trading, and investment banking verticals. Its platform allows customers to control the flow of information between public and private stakeholders and enhance productivity by acting as the organization’s centralized hub for capturing, managing, and analyzing client data. The company is backed by an investor consortium consisting of Wavecrest Growth Partners, Mass Mutual Ventures, and Salesforce Ventures. In December 2017, D.A. Davidson advised the company on its majority recapitalization transaction with its current investor base.

“I want to express our highest appreciation for the best-in-class guidance that D.A. Davidson’s Technology Investment Banking team provided in the successful sale of Tier1 CRM to SS&C. D.A. Davidson proved to be a first-rate partner, providing us with excellent advice, comprehensive industry knowledge, and a dedicated team of professionals who guided us through the entire process. Throughout our partnership, we established an integrated team founded upon trust, discipline, and a commitment to succeed,” said Neil Ferris, Chairman of Tier1 CRM.

“In 2017, we worked opposite of the D.A. Davidson team on the majority recapitalization transaction for Tier1 CRM. This time around, we had the pleasure of working alongside them as partners–driving towards the same outcome on this important strategic transaction. The team’s undying dedication, deep expertise, and networks in the capital markets ecosystem and strong execution capabilities enabled us to achieve a successful outcome with SS&C,” said Vaibhav Nalwaya, Managing Partner at Wavecrest Growth Partners.

Tier1 CRM marks D.A. Davidson’s fourth successful outcome with SS&C Technologies, previous transactions include the sale of both Varden Technologies and FMC.

This transaction represents another successful closing by D.A. Davidson's Technology Investment Banking Group, highlighting our deep domain expertise in the capital markets technology space and successful track record generating highly favorable outcomes for high-growth FinTech companies globally. With the recent acquisition of Marlin & Associates, D.A. Davidson is one of the most active technology groups in the United States. Since January 2021, the combined Technology Group has completed nearly 80 advisory and public equity transactions representing more than $20 billion in value.

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About D.A. Davidson Companies

D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions and municipalities nationwide. Founded in 1935 with corporate headquarters in Great Falls, Montana and regional headquarters in Denver, Los Angeles, New York, Omaha and Seattle, the company has approximately 1,525 employees and offices in 27 states.

Subsidiaries include: D.A. Davidson & Co., a full-service investment firm providing wealth management, investment banking, equity and fixed income capital markets services, and advice; Davidson Investment Advisors, a professional asset management firm; D.A. Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment adviser providing fixed income portfolio and advisory services.

For information, visit dadavidson.com

Contacts
Deal Team Contacts
Michael Maxworthy, Managing Director and Co-Head of the Technology Investment Banking Group | New York | mmaxworthy@dadco.com

Tom Selby, Managing Director | Toronto | tselby@dadco.com
Joseph Tamburello, Associate | New York | jtamburello@dadco.com

Media Contact
Andreea Popa, Head of Equity Capital Markets Marketing | apopa@dadco.com

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