Case Study: Noosa Labs acquires Evalart with FE International

Noosa Labs acquires Evalart with FE International after 123-buyer process

Noosa Labs, a Miami-based SaaS holding company, sought to acquire a profitable and growing HR technology business to expand its portfolio, specifically targeting entry into the Latin American market and the pre-employment testing vertical. They identified Evalart, a bootstrapped pre-employment assessment platform, as a potential target and engaged FE International as their exclusive sell-side M&A advisor to manage the competitive acquisition process.

FE International implemented a structured sale process, contacting 123 potential buyers to generate competitive tension. This strategy resulted in multiple competitive offers and culminated in the successful acquisition of Evalart by Noosa Labs in April 2024. The deal provided Noosa Labs with a strategic asset boasting a 69% SDE margin, a near-perfect customer satisfaction score, and a strong foothold in a high-growth market.

Noosa Labs