Auctane

Investment Thesis

• Market leader with significant scale
• Growing e-commerce megatrend
• Attractive financial profile

Investment Overview

In October 2021, NBPE invested alongside Thoma Bravo, a leading software private equity manager, in the take-private transaction of Auctane, a leading provider of e-commerce shipping software solutions. Auctane was acquired for approximately $6.6 billion with Auctane shareholders receiving $330.00 per share in cash for each share of common stock.

Auctane is the leading provider of e-commerce shipping software solutions to customers including consumers, small businesses, e-commerce shippers, enterprises, and high volume shippers. The company’s multi-carrier solutions enable customers to print approved shipping labels for more than 350 carriers and integrate with more than 300 partners including shopping carts, marketplaces, e-commerce tools and various other software products. Auctane’s solutions also provide customers with access to discounted carrier rates including USPS and UPS. In 2020, Auctane software products enabled ~3.5 billion of shipped packages representing ~5% of worldwide ecommerce, and over 15% of U.S. ecommerce GMV.

The manager believes this was an attractive opportunity to invest in the large and growing e-commerce market. In addition, this was as an opportunity to partner with Thoma Bravo, which brings extensive software and operational expertise, to support the company’s next phase of growth.