\nMarks the Firm\u2019s Third Liquidity Event This Month and Another Successful Exit for MidOcean\u2019s Business Services Vertical<\/b><\/p>
NEW YORK--(BUSINESS WIRE)--MidOcean Partners (\u201cMidOcean\u201d or the \u201cFirm\u201d), a premier New York-based alternative asset manager specializing in middle market private equity, alternative credit, and structured equity, announced today the signing of the sale of Bora, Inc. and its subsidiaries (collectively, \u201cZonda\u201d or the \u201cCompany\u201d) to CoStar Group, Inc. (NASDAQ: CSGP) (\u201cCoStar Group\u201d).<\/p>
\nZonda is the #1 data, marketplace, and software platform for the new home ecosystem. Zonda\u2019s end-to-end platform spans land discovery, homebuilding, home discovery, and homebuying, and is delivered through three integrated offerings: subscription-based data and intelligence covering more than 500 housing metrics across North America; the leading new-home marketplace in the U.S. and Canada; and a full suite of software solutions for the virtual home evaluation experience, including visualization, customization, and tours. Customers rely on Zonda\u2019s proprietary, AI-driven platform for mission-critical, daily decision making across the new home value chain.<\/p>
\nMidOcean executed a focused value creation strategy that unified disparate industry assets into a comprehensive purpose-built platform for the new home market and significantly expanded the Company\u2019s offerings across data, marketplaces, and software. During MidOcean\u2019s ownership, Zonda completed nine strategic add-on acquisitions, broadened geographic coverage, invested heavily in proprietary and patented AI-driven data collection and workflow tools, and launched new products targeted to this $27 billion+ total addressable market. The Company more than doubled in scale, materially expanded margins, and achieved more than 50 consecutive quarters of year-over-year ARR growth \u2013 demonstrating a successful track record across all housing market conditions.<\/p>
\nSara Badham, Managing Director at MidOcean, commented, \u201cWith Zonda\u2019s visionary management team, we set out to create the preeminent platform for data, insights and technology across the residential housing ecosystem. We continually invested behind that vision, in strategic acquisitions, technology, product and talent. Zonda is a trusted partner to its customers and a trusted source of intelligence across the market. We are incredibly proud of what we have built together with the Zonda team and we look forward to watching the Company\u2019s continued success as part of CoStar Group.\u201d<\/p>
\n\u201cMidOcean\u2019s strategic insight, operational support, and capital partnership were instrumental in transforming Zonda into the platform it is today. We are excited to combine with the CoStar Group \u2013 a global leader in real estate information, analytics, and marketplaces \u2013 and look forward to continuing to deliver exceptional value to our customers as part of a larger platform with shared ambitions,\u201d added Jeff Meyers, Founder and Chief Executive Officer of Zonda.<\/p>
\nHoulihan Lokey Capital, Inc. served as lead financial advisor to MidOcean. Solomon Partners Securities, LLC. also served as a financial advisor to the Company. Gibson, Dunn & Crutcher LLP served as legal advisor to MidOcean.<\/p>
\nAbout MidOcean Partners\n \nAbout Zonda\n \nMidOcean Investor Relations Contact<\/b> Marks the Firm\u2019s Third Liquidity Event This Month and Another Successful Exit for MidOcean\u2019s Business Services VerticalNEW YORK–(BUSINESS WIRE)–MidOcean Partners (\u201cMidOcean\u201d or the \u201cFirm\u201d), a premier New York-based alternative asset manager speciali…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-13276","post","type-post","status-publish","format-standard","hentry","category-infos-businesswire"],"_links":{"self":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/13276","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13276"}],"version-history":[{"count":1,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/13276\/revisions"}],"predecessor-version":[{"id":13277,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/13276\/revisions\/13277"}],"wp:attachment":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}