CARRICK CAPITAL PARTNERS
provides an approach to building value and growth capital for these companies:

OUR GREATEST STRENGTH

APPROACH TO BUILDING VALUE

Growth requires more than capital

Carrick takes an operational approach to growth investing, bringing a distinctive combination of operational and investment expertise to help entrepreneurs.

We are experts in tech- enabled businesses

Specific industry focus and our quality over quantity philosophy positions us to dedicate the time and expertise a winning organization deserves.

Our expertise becomes your advantage

Leveraging decades of knowledge and successes, our operational approach helps build companies that produce excellent returns and shift the industry.

We concentrate on a few, select, high quality companies and devote significant resources post-investment helping our companies scale.

Carrick’s Approach to Building Value

Together with management, we identify the 3-5 TOP DRIVERS OF VALUE, those key areas with the biggest impact on spurring growth.

Collaboratively, we define the needs and actions to accelerate these TOP DRIVERS OF VALUE with three key initiatives:

Go-to-Market Strategy

Sharpen your Value Edge
Grow Sales Channels
Increase Install Base Revenue

GROW LEADERSHIP TALENT

Win Industry Credibility
Install Experienced Governance
Foster Entrepreneurial Energy

Scale Operations and Technology

Improve Quality and Throughput
Create Customer Stickiness
Improve Unit Cost Efficiencies

OUR UNIQUE

Investment Approach

Market Focus

Business to Business technology-enabled companies:
SaaS, BPO and Transaction Processing

Investment Philosophy

“Thesis Driven Origination” to identify sectors of high opportunity along with the specific companies demonstrating a “Value Edge” to best capitalize on that opportunity.

Based on Carrick’s experience and expertise, “Direct Targeting” of high quality, attractive investment targets that fall outside of, but complement, our thematic sourcing efforts.

Investment Strategy

Direct investment with at least one Board seat, and full alignment with the CEO on our ABV and “Top Drivers of Value”

Investment Criteria

Company Specific

Rev. $10 – $100M
EBITDA Positive
Market & Growth

TAM > $1B
Organic Growth >15%
Attractive Margins

Target Gross Margin > 50%
Target EBITDA Margins > 15%
Capital

Appropriate Value
Capital Efficiency

We are focused on true “Value Creation”

We understand the difference between “assets” and scale-able companies. We are careful to avoid “momentum” investing and believe that a value-conscious approach is critical for building a long-term portfolio of companies with the right risk/return profile.

PORTFOLIO

innovators, pioneers, and leaders in the technology enabled services space

Accolade

Accolade

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Axiom Law

Axiom Law

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Everspring

Everspring

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Infrascale

Infrascale

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Mavenlink

Mavenlink

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Procura

Procura

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Saama

Saama

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Seven Lakes Technologies

Seven Lakes Technologies

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THE LATEST FROM OUR BLOG

INSIGHTS

Mavenlink Named 2015 Best Place to Work

Mavenlink Named 2015 Best Place to Work

Irvine, CA (July 28, 2015) – Mavenlink, a leading global provider of integrated business and project management software, today announced that it has been named a 2015 Best Place to Work by the Orange County Business Journal. The annual survey and awards program is designed to identify, recognize and honor the best employers in Orange County…

WHAT “GROWTH EQUITY” REALLY MEANS

WHAT “GROWTH EQUITY” REALLY MEANS

Do you have trouble telling one private equity firm from another? You’re not alone. Much of the work we’ve done with many CEOs and management teams has involved de-mystifying the unfamiliar concepts and jargon that many firms and partners toss around. We would like to take this opportunity to explain our brand of private equity…

Accolade Secures $22.5 Million in Strategic Funding

Accolade Secures $22.5 Million in Strategic Funding

Investment earmarked for growth strategy, technology & analytics innovations PLYMOUTH MEETING, Pa. – July 16, 2015 – announced that it has secured $22.5 million in strategic funding from a subsidiary Accolade, the market-leading consumer health engagement platform for large employers and insurers, today of Independence Health Group, the parent company of Independence Blue Cross (Independence),…

Accolade Leadership Q&A

Accolade Leadership Q&A

Can you explain exactly what your company does and what problem it solves? Accolade has reinvented consumer engagement in healthcare to provide a single, easy-to-use solution that combines the power of 1-to-1 human relationships with advanced technology & analytics. This helps people navigate the complex healthcare system and get the right care the first time.…

Procura LEADERSHIP Q&A

Procura LEADERSHIP Q&A

Can you explain exactly what your company does? Procura provides software solutions for home and community healthcare organizations in the United States, Canada and Australia that help them meet regulatory requirements, reduce costs and provide a higher quality of care. Due to ever changing laws and patient needs, these organizations face distinct administrative and documentation…

Mavenlink LEADERSHIP Q&A

Mavenlink LEADERSHIP Q&A

Can you explain exactly what your company does? At its core, Mavenlink organizes human capital to get work done in the professional services industry. Our technology offers a single place in the cloud for clients, contractors, and sub-contractors to interact, share and conduct business in real-time, anywhere in the world resulting in improved productivity, efficiency…

Infrascale LEADERSHIP Q&A

Infrascale LEADERSHIP Q&A

Can you explain exactly what your company does and what problem it solves? Infrascale uses the cloud to protect data for businesses. We provide the industry’s only total cloud platform for backup, disaster recovery, file sharing and data archiving with military-grade security. Our platform protects data in any environment and our solutions span mobile devices, workstations,…

Everspring LEADERSHIP Q&A

Everspring LEADERSHIP Q&A

Can you explain exactly what your company does and what problem it solves? Everspring is a Chicago based built-for-purpose company that was created to help universities build and run online degree programs at the master’s and bachelor’s levels. Working in partnership with university leaders, Everspring helps develop a consistent strategy for starting or expanding their…

Axiom LEADERSHIP Q&A

Axiom LEADERSHIP Q&A

Can you explain exactly what your company does and what problem it solves? Axiom exists to help transform the legal industry for the better. At approximately one half-trillion dollars it is the world’s second largest and arguably most important service economy, but in practice, it hasn’t experienced meaningful change in a century. A built-for-purpose 1,000 person…

The Real Assets

Meet the Team

Marc McMorris, Co-Founder and Managing Director

“Well done is better than well said.” (Benjamin Franklin)

Marc McMorris is a co-founder and managing director of Carrick Capital Partners where he is directly involved in the selection and growth guidance of successful companies in technology-enabled services including BPO, Transaction Processing, and Software as a Service (SaaS).

Mr. McMorris has extensive experience investing in minority deals, recaps, carve-outs, and performing public offerings and sell-side deals. He has worked with companies valued from $50 million to $3 billion and equity investments ranging from $30 million to $400 million.

Previously, he was a managing director for General Atlantic, a growth-oriented $15 billion global private equity firm. Mr. McMorris was the lead or co-lead in approximately $900 million in investments in business services, financial services and software which included the successful IPOs of numerous companies. During his tenure, Mr. McMorris also led General Atlantic’s Palo Alto office.

Prior to General Atlantic, Mr. McMorris served as a vice president in the High-Tech Mergers and Acquisitions Group of Goldman Sachs, Inc. Before working for Goldman Sachs, Mr. McMorris was an associate at Morgan Stanley where he worked in the Telecom/Media Mergers & Acquisitions Group.

Mr. McMorris earned his MBA with a concentration in finance and accounting from The Wharton School of the University of Pennsylvania and his BS in economics from the University of Pennsylvania.  Mr. McMorris is a trustee for the university and is a member of the Investment Committee and the committees of Audit and Compliance; Budget and Finance; and Local, National and Global Engagement, which he chairs.

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Jim Madden, Co-Founder and Managing Director

“Give me your best, most critical thinking – all the time.  Don’t worry about anyone’s reaction to it.”

Jim Madden is a co-founder and managing director of Carrick Capital Partners where he is directly involved in the selection and growth guidance of successful companies in technology-enabled services including BPO, Transaction Processing, and Software as a Service (SaaS).

Earlier in his career, Mr. Madden was the founder, chairman, and chief executive officer of Exult, Inc., the pioneer of human resources BPO (business process outsourcing) for Global 500 corporations. Founded in 1998, Exult operated client service centers around the globe, servicing more than 600,000 employees with $20 billion in annual employee payments. Exult empowered such globally recognized companies as BP, Bank of America, International Paper, and Prudential Financial to enhance their human capital productivity, reduce costs and provide improved HR services. Within five years, Mr. Madden grew Exult from a concept to more than $500 million in revenue, and went on to lead the company’s successful IPO in 2000.

After merging Exult into Hewitt (NYSE: HEW) in late 2004, Mr. Madden became a special advisor with General Atlantic, a leading private equity firm focused on technology-enabled business-services companies.  In this capacity, Mr. Madden actively supported or co-led investments in Genpact, TriNet, and ServiceSource. In 2007, he became a General Partner with Accretive, LLC (then Accretive Technology Partners), a private equity firm focused on early-stage technology services businesses. During his tenure, Mr. Madden co-led the establishment of Accolade and an investment in Business Insurance Now (renamed “Insureon”).

Prior to founding Exult, Mr. Madden held senior executive roles at SHL Systemhouse, a $2 billion IT outsourcer that was acquired by MCI in 1995. Previously, he was a Principal at Booz-Allen & Hamilton, and he started his career at Accenture (then Andersen Consulting).

Mr. Madden earned his BBA in finance and a BA in geology from Southern Methodist University.  He serves on the board of directors of Accolade Health, Axiom Law, Everspring, Mavenlink, ServiceSource (NASDAQ: SREV) and Genpact (NYSE: G).

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Alex Mason, Managing Director

“Making a decision is a function of accuracy and speed. A great decision made too late is a wrong decision. A good decision made at the right time is a great decision.”

Alex Mason is a Managing Director at Carrick Capital Partners and is a member of the founding team. Mr. Mason is involved in all areas of the firm’s investing activities.

Prior to Carrick, Mr. Mason was a Vice President at Accel-KKR, a technology buyout investment firm. Prior to Accel-KKR, Mr. Mason worked at Technology Crossover Ventures (TCV), a private equity and public equity investment firm focused on growth investments. While at TCV, Mr. Mason was involved in minority and majority investments in financial services, enterprise services and software, Internet, and education services.

Preceding his investment career, Mr. Mason worked at Morgan Stanley, in the firm’s Investment Banking Technology Group as well as Morgan Stanley Technology Ventures. Prior to Morgan Stanley, Mr. Mason worked in the Investment Banking Technology Group at Piper Jaffray.

Mr. Mason graduated from the Harvard Business School with First Year Honors. Mr. Mason is also a graduate of the University of Washington, where he received his B.S. with Honors in Economics and graduated Phi Beta Kappa.

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Steve Unterberger, Managing Director, Operations

“Hard work brings good luck.”

Steve Unterberger is the Managing Director, Operations at Carrick Capital Partners. Prior to joining Carrick, Mr. Unterberger served in several roles for Exult, Inc., a provider of business services related to human resources and business process outsourcing, from February 1999 to October 2004. While there, he was the Business Model Architecture President from June 2003 until it was acquired by Hewitt Associates, Inc. in October 2004. Before Exult, Mr. Unterberger was a US Executive Vice President of SHL Systemhouse, a $2 Billon IT Outsourcer acquired by MCI in 1995. He was also a Senior Manager at Pricewaterhouse Coopers. Mr. Unterberger holds a degree in economics from The University of Pennsylvania.

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Mitchell Slodowitz, Chief Financial Officer

“The potential for a good outcomes require experience, analysis, detail, patience, listening, attention, teamwork and collaboration”

Mitchell Slodowitz is the Chief Financial Officer and joined Carrick in December 2013. Mitchell served as Chief Financial Officer of Accretive, LLC from 2000 until 2012. Mitchell’s responsibilities included deal structuring, fund and portfolio management, portfolio financial assistance and tax planning.

Mitchell was also a tax manager in the Personal Tax Group of the New York office at Deloitte & Touche and specialized in high-net-worth individuals and venture capital firms. Mitchell graduated with an Accounting Degree from The College of William & Mary in Williamsburg, Virginia and is a Certified Public Accountant.

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Chris Wenner, Senior Associate

“Knowledge is not for knowing: knowledge is for cutting.” (Michel Foucault)

Chris Wenner is a Senior Associate at Carrick Capital Partners and is a member of the founding team. Prior to joining Carrick, he was an investment banking analyst at Perella Weinberg Partners, where he focused on mergers and acquisitions and private capital transactions in the technology industry for clients including Oracle, Google and Hewlett-Packard. Mr. Wenner graduated from the University of California with a Bachelor of Arts in Economics.

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Robert Asplund, Associate

“Always bear in mind that your own resolution to succeed is more important than any other one thing.” (Abraham Lincoln)

Robert Asplund is an Associate at Carrick Capital Partners. Prior to joining Carrick, he was an investment banking analyst at William Blair & Company where he focused on mergers and acquisitions and equity transactions in the technology industry. Mr. Asplund graduated from the University of Wisconsin-Madison with a Bachelor of Arts in Chinese and a Certificate in Business.

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Mark Schopmeyer, Associate

“The difference between ordinary and extraordinary is that little extra.” (Jimmy Johnson)

Mark Schopmeyer is an Associate at Carrick Capital Partners. Prior to joining Carrick, he was a manager and a founding member of the finance team at BrightRoll, a leading programmatic video advertising company, and helped the company scale from 100 to over 500 employees.

Preceding his start-up career, Mr. Schopmeyer worked in the Technology Investment Banking Group at Jefferies and executed several advisory and financing transactions representing over $4 billion in value, including the sales of Radiant Systems to NCR, Epicor to Apax Partners, and Internet Brands to Hellman & Friedman. Prior to Jefferies, Mr. Schopmeyer worked in the Healthcare Investment Banking Group at Lehman Brothers. Mr. Schopmeyer graduated from the University of California with a Bachelor of Science in Business Administration.

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Kenneth L. Coleman, Special Advisor

Mr. Coleman is chairman of Saama Technologies, a leading provider in the data and analytics market.  He has also served as a member of the Board of Directors of Accelrys, Inc. since May 2003 and was elected Chairman in February of 2006. He was Founder, Chairman and CEO of ITM Software, an enterprise software company, from October 2000 until December 2005. Prior to that, Mr. Coleman served in various senior executive positions at SGI, such as Executive Vice President of Global Sales, Service and Marketing, Senior Vice President, Customer and Professional Services and Senior Vice President, Administration. Prior to joining SGI, Mr. Coleman was Vice President of Product Development at Activision, Inc., and held various management positions at Hewlett-Packard. Mr. Coleman is a also member of the Board of Directors of United Online, an internet service provider, and City National Bank and is a member of the advisory board of the Ohio State University Business School.

Raul Fernandez, Special Advisor

Mr. Fernandez is the Chairman & CEO of ObjectVideo and former Chairman & CEO of Dimension Data. Prior to that, he was the Founder & CEO of Proxicom, the leading global provider of e-business solutions for Fortune 500 companies. Mr. Fernandez led the company to an IPO in 1999, grew the company to over $200mm in revenue, and sold it to Dimension Data (LSE:DDT). A prominent business leader, he has been profiled by The Wall Street Journal, Fortune, Forbes, CNBC, The Industry Standard, The Washington Post, and CNNfn.

He led the Information Technology Analysis Team for Virginia Governor Mark Warner’s Commission on Efficiency and Effectiveness. He sits on the boards of Fifth and Pacific (formerly known as Liz Claiborne), EXP (formerly TROW), ValueOptions, the nation’s largest independent behavioral healthcare company, and Internosis, an award-winning IT consultancy and systems. He is also co-owner of the NHL’s Washington Capitals and NBA’s Washington Wizards. A native Washingtonian, he is an active philanthropist in DC regional non-profits, focusing his energy primarily on educational reform.  Mr. Fernandez holds a Bachelor’s degree in Economics from the University of Maryland.

William H. Frist, M.D, Special Advisor

William H. Frist, M.D is a nationally acclaimed heart and lung transplant surgeon, former U. S. Senate Majority Leader, and chairman of the Executive Board of the health service private equity firm Cressey & Company.

Senator Frist majored in health policy at Princeton University’s Woodrow Wilson School of Public and International Affairs before graduating with honors from Harvard Medical School. Dr. Frist completed surgical training at Massachusetts General Hospital and Stanford under transplant pioneer Dr. Norm Shumway. As the founder and director of the first of its kind Vanderbilt Multi-Organ Transplant Center, he performed over 150 heart and lung transplants and authored over 100 peer-reviewed medical articles and seven books on topics such as bioterrorism, transplantation, service and leadership. He is board certified in both general and heart surgery.

Dr. Frist represented Tennessee in the U.S. Senate for 12 years where he served on both the Health and Finance committees responsible for writing health legislation. He was elected Majority Leader of the Senate, having served fewer total years in Congress than any person chosen to lead that body in history. His leadership was instrumental in passage of the 2003 Medicare Modernization Act to provide prescription drugs at lower costs to seniors and the historic legislation (PEPFAR) that reversed the spread of HIV/AIDS worldwide.

Dr. Frist leads annual medical mission trips to Africa and Haiti, and emergency response teams to disasters around the globe, including Sri Lanka, Bangladesh, Sudan, New Orleans, Haiti, and the horn of Africa. Frist is chairman of both the Hope Through Healing Hands foundation which focuses on maternal and child health and SCORE, a collaborative K12 education reform organization that has helped propel Tennessee to prominence as a reform state.

His current board service includes the Robert Wood Johnson Foundation, Kaiser Family Foundation, Bipartisan Policy Center, Center for Strategic and International Studies, Harvard Medical School Board of Fellows, First Lady Michelle Obama’s “Partnership for a Healthier America” campaign to fight childhood obesity, and the Nashville Health Care Council. He is a member of the advisory committees for global health at Duke, Harvard (with Dr. Paul Farmer), and the Massachusetts General Hospital. His previous board service includes Princeton University and the Smithsonian Institution.

In the private sector, he serves on the boards of Theranos (lab), Unitek (nursing and information technology), Aegis (lab), Aspire (palliative care), MDSave (consumerism), URS (engineering), Select Medical (hospitals), and Accolade (patient navigation).

Currently Frist serves as an adjunct professor of Cardiac Surgery at Vanderbilt University and clinical professor of Surgery at Meharry Medical College. As a leading authority on healthcare, Senator Frist speaks nationally on health reform, government policy, global health, and volunteerism. Dr. Frist has three sons and lives in Nashville, Tennessee.

Tom Mendoza, Special Advisor

Tom is the Vice Chairman of NetApp.  He joined NetApp in 1994 and was responsible for sales until becoming President in 2000. In 2009 he became Vice Chairman. Tom has given talks on the power of corporate culture and leadership all over the world to people in such diverse organizations as the U.S. Marine Corps, West Point, CIO forums, Oracle’s Leaders Circle, and Stanford University. In 2009 he was the co-recipient with NetApp Chairman Dan Warmenhoven of the Morgan Stanley Leadership Award for Global Commerce. Tom holds a BA degree from the University of Notre Dame and is an alumnus of Stanford University’s Executive Business Program. In September 2000, Notre Dame renamed its business school the Mendoza College of Business after an endowment made by Tom and Kathy Mendoza.

Tom Neff, Special Advisor

Mr. Neff has worked for Spencer Stuart & Associates, N.A. (executive search consulting) since 1976, serving as president of the worldwide firm from 1979 to 1996.  Since 1996, he has served as chairman of Spencer Stuart, U.S.  Previously, he was a principal with Booz Allen & Hamilton in executive search, CEO of an information systems company and held a senior marketing position with TWA.  Earlier, he was a management consultant with McKinsey & Company in New York and Australia.  Tom serves on the boards of directors of ACE Limited (chair of governance committee), an $18 billion Zurich-based insurance company.  He served on the boards of Hewitt Associates, Macmillan and Exult until they were acquired and also served on the board of the Lord Abbett mutual funds.  He serves as a trustee emeritus of Lafayette College and previously served as chairman of the board of the Brunswick School.

Nicolas Chammas, Vice President

“Opportunities don’t happen – they are created.”

Nicolas Chammas is a Vice President at Carrick Capital Partners and is involved in all areas of the firm’s investing activities.

Prior to joining Carrick, Mr. Chammas served as a Vice President with DBO Partners, a San Francisco based merchant bank where he focused on M&A advisory and merchant banking/investing primarily within technology. Prior to DBO, Mr. Chammas was a Senior Associate at GCA Savvian, a boutique advisory firm focused on high growth technology businesses, where he focused on M&A and corporate finance.

Mr. Chammas was previously a Senior Associate at Accel-KKR, a technology-focused private equity firm based in Menlo Park, CA, and he began his career as an Analyst with Credit Suisse in their Technology Investment Banking Group.

Mr. Chammas earned his MBA from the Stanford Graduate School of Business and his BA in Business/Economics from the University of California, Los Angeles.

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We are experts in tech- enabled businesses

Carrick Capital Partners is the first stop for entrepreneurs seeking unmatched, specialist expertise to help scale their technology businesses.

We only invest in a few, high quality companies

Specific industry focus and our quality over quantity philosophy positions us to dedicate the time and expertise a winning organization deserves.

Our expertise becomes your advantage

Leveraging decades of knowledge and successes, our operational approach helps build companies that produce excellent returns and shift the industry.

We are focused on true “Value Creation”

We understand the difference between “assets” and scale-able companies. We are careful to avoid “momentum” investing and believe that a value-conscious approach is critical for building a long-term portfolio of companies with the right risk/return profile.

CONNECT
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LOCATIONS

Carrick Capital Partners, LLC
One California Street,
Suite 1900
San Francisco, CA 94111
(415) 432-4100

610 Newport Center Drive,
Suite 1220
Newport Beach, CA 92660
(949) 209-6202

EMAIL