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MultiMechanics will be integrated into Siemens Digital Industries Softwar ...
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Source: http://feeds.feedburner.com/pehub/news/m_a

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<title>M&A – PE Hub</title>
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<title>New Mountain’s Western Dental returns to auction block</title>
<link>https://www.pehub.com/2019/11/new-mountains-western-dental-returns-to-auction-block/</link>
<comments>https://www.pehub.com/2019/11/new-mountains-western-dental-returns-to-auction-block/#respond</comments>
<pubDate>Wed, 27 Nov 2019 01:00:51 +0000</pubDate>
<dc:creator><![CDATA[Sarah Pringle]]></dc:creator>
<category><![CDATA[Healthcare]]></category>
<category><![CDATA[M&A]]></category>
<category><![CDATA[healthcare]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3607580</guid>
<description><![CDATA[New Mountain Capital’s Western Dental & Orthodontics has returned to the auction block, according to several people familiar with the matter.]]></description>
<content:encoded><![CDATA[New Mountain Capital’s Western Dental & Orthodontics has returned to the auction block, according to several people familiar with the matter.
Goldman Sachs and Deutsche Bank are advising on the sales process, the people said, one of whom said the process is exclusively targeting financial sponsors.
Management presentations have occurred and the process is in its second rounds, some of the people said.
While the process remains in its early stages, sources speculated sellers could fetch an Ebitda multiple in the 10x-to-12x range. Based upon approximately $120 million of Ebitda, according to one source, that would suggest a potential transaction could be valued well into the billion dollar range.
Western Dental’s revenue has grown year-over-year over the last five years, one of the people added.
New Mountain, whose investment in Western Dental dates to 2012, evaluated a sale of the company in mid-2018 via Moelis and Deutsche Bank, Buyouts reported.
Founded as a single office out of Los Angeles, Western Dental’s network has grown to encompass 322 dental offices in California, Arizona, Texas, Nevada and Alabama. Western Dental and its affiliates offer orthodontics, oral surgery, pediatric dentistry, periodontics and endodontics in its offices.
Western Dental may be more challenging to value than traditional dental service organizations given a portion of its revenues stem from a Medicaid-reimbursed patient population, sources said. The company serves more Denti-Cal patients than any other dental provider in California; however, Medicaid accounts for only about a quarter of the company’s revenues, one of the people said.
Enhancements in patient access to Denti-Cal in recent years have served as a boost to the company, and thus sponsors are also considering the sustainability of the program’s budget, as well as Western Dental’s heavy California concentration more generally speaking, another person said.
Western Dental is led by Chairman and CEO Daniel Crowley. Sources characterize Crowley as a superstar multisite operator, though acknowledge that there are multiple other things that take his time.
Crowley also serves as executive chairman of Harvest Partners-backed Eyecare Services Partners and Advanced Dermatology and Cosmetic Surgery, which is backed by both Harvest and Audax Private Equity. The healthcare exec also leads Dynamic Healthcare Solutions, a healthcare consulting firm he founded several years ago.
New Mountain purchased Western Dental in 2012 from fellow New York firm Court Square Capital Partners.
Financial terms of New Mountain’s initial investment weren’t disclosed, but an October 2012 Moody’s report stated that the deal was valued at about $550 million including a $300 million cash equity contribution.
The process for Western Dental comes as San Francisco’s Gryphon Investors seeks a buyer for Smile Brands, one of the largest dental support organizations in the country. The company kicked off a sales process in October via Moelis, Buyouts reported.
In recent industry trades, Jacobs Holding, the family office of Switzerland’s Klaus J. Jacobs, clinched a deal for North American Dental Group. The August deal provided an exit for Abry Partners and Riverside Co., concluding a Jefferies-run sales process.
Other large players include L Catterton’s Dentalcorp, the largest platform north of the border. Catterton bought Dentalcorp from Imperial Capital Group and OPTrust in a deal valued around C$1.6 billion in 2018, Buyouts reported.
Other large-scale players include KKR’s Heartland Dental and Aspen Dental, a portfolio company of Ares Management, Leonard Green & Partners and American Securities.
A New Mountain spokesperson declined to comment, while those with Western Dental, Goldman Sachs and Deutsche Bank didn’t immediately return requests for comment.
Action Item: Check out New Mountain’s latest Form ADV: <a href="https://bit.ly/2DgdqSH">https://bit.ly/2DgdqSH</a>
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<title>PE-backed EN Engineering acquires QC Data</title>
<link>https://www.pehub.com/2019/11/pe-backed-en-engineering-acquires-qc-data/</link>
<comments>https://www.pehub.com/2019/11/pe-backed-en-engineering-acquires-qc-data/#respond</comments>
<pubDate>Tue, 26 Nov 2019 17:22:58 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Business Services]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3607565</guid>
<description><![CDATA[EN Engineering has acquired Greenwood Village, Colorado-based QC Data, an intelligent infrastructure services firm. No financial terms were disclosed. EN Engineering is backed by Kohlberg & Company.]]></description>
<content:encoded><![CDATA[EN Engineering has acquired Greenwood Village, Colorado-based QC Data, an intelligent infrastructure services firm. No financial terms were disclosed. EN Engineering is backed by Kohlberg & Company.
PRESS RELEASE
November 26, 2019 WARRENVILLE, Ill.–(BUSINESS WIRE)–EN Engineering, a leading utility services firm, has acquired QC Data, an intelligent infrastructure services firm headquartered in Greenwood Village, Colorado.
Headquartered in Warrenville, Illinois, EN Engineering provides comprehensive and dependable engineering, consulting, and automation services to utilities, pipeline companies, and industrial customers. The company operates in key energy and manufacturing regions across the United States.
“We view the addition of QC Data as an ideal partnership as we continue to seek ways to expand our utility and telecom services,” stated EN Engineering Chief Executive Officer Steve Knowles. Adding, “In particular, over the last 20 plus years QC Data has become well known for their data focused expertise related to asset and infrastructure management.”
“My team and I are excited to begin our partnership with EN Engineering,” said QC Data President Glen Helin. “This transaction is the perfect next step for our organization and for our continued growth and expansion. We look forward to leveraging EN’s breadth of knowledge and national footprint to expand our service offerings and strengthen our position as a premier engineering and data services provider.”
Established in 1977, QC Data is an industry-leading provider of engineering design and data services. The firm has more than 200 employees across the United States, with managers averaging 25 years of industry experience. The firm brings a comprehensive portfolio including work programs for leading energy, utility, telecommunication, and engineering contracting organizations.
EN Engineering Chief Strategy Officer & Corporate Development Benjamin Newman expanded further about the benefits of this strategic acquisition. “QC Data adds new capabilities as well as several new customers and geographies that are highly complementary to EN’s Utility business unit,” he said. “In addition, we believe that QC Data’s strong history, company culture, and customer relationships will fit in well with EN’s existing operations.”
For more information about EN Engineering, please visit www.enengineering.com.
About EN Engineering 
EN Engineering’s 1,500+ professionals across 30 offices in the United States provide comprehensive and dependable engineering, consulting, design, integrity management, corrosion protection, and automation services to pipeline companies, utilities, and industrial customers with excellence from start to finish. For more information, please visit www.enengineering.com.
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<title>Siemens buys virtual testing software company MultiMechanics</title>
<link>https://www.pehub.com/2019/11/siemens-buys-virtual-testing-software-company-multimechanics/</link>
<comments>https://www.pehub.com/2019/11/siemens-buys-virtual-testing-software-company-multimechanics/#respond</comments>
<pubDate>Tue, 26 Nov 2019 15:03:04 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[M&A]]></category>
<category><![CDATA[Tech]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3607551</guid>
<description><![CDATA[Siemens has acquired Omaha-based MultiMechanics, a developer of virtual testing software. No financial terms were disclosed. MultiMechanics was a portfolio company of Anzu Partners.]]></description>
<content:encoded><![CDATA[Siemens has acquired Omaha-based MultiMechanics, a developer of virtual testing software. No financial terms were disclosed. MultiMechanics was a portfolio company of Anzu Partners.
PRESS RELEASE
WASHINGTON, Nov. 25, 2019 /PRNewswire/ — Anzu Partners, a venture capital and private equity firm that invests in breakthrough industrial technologies, announced today that its portfolio company MultiMechanics has been acquired by global technology company Siemens. MultiMechanics is the developer of MultiMech, a material modeling and simulation software tool that helps companies accelerate the product development lifecycle by virtually predicting failure in advanced materials at an unprecedented level of speed and accuracy.
“We are grateful to Anzu Partners for its support and close partnership over the past two years,” said Leandro Castro, Co-Founder and Chief Executive Officer. “The technical guidance and operational support from the Anzu team, since the time of the firm’s investment in 2017, has been incredibly valuable to MultiMechanics’ growth as a company.”
MultiMechanics will be integrated into Siemens Digital Industries Software, and its software platform incorporated into Siemens’ Simcenter<img src="https://s.w.org/images/core/emoji/12.0.0-1/72x72/2122.png" alt="™" class="wp-smiley" style="height: 1em; max-height: 1em;" /> software, within its Xcelerator portfolio, implementing materials engineering into the digital workflow and establishing a pervasive link between material developers, manufacturing process developers and part designers.
“It has been a rewarding experience to work with the MultiMechanics team, and fellow investors Solvay, to drive the company’s growth,” said Gray Robinson, Senior Associate at Anzu Partners, who served on the MultiMechanics Board of Directors from 2017 until its acquisition by Siemens. “Today’s announcement is the beginning of a new and exciting chapter for MultiMechanics and we are delighted to see its integration into Siemens.”
“MultiMechanics demonstrates that breakthrough industrial technologies are coming from cities in the heartland like Omaha, Nebraska,” said Whitney Haring-Smith, Managing Partner at Anzu Partners. “Anzu continues to focus its investments on commercializing industrial innovations from all over the US and Canada, and MultiMechanics is a great example of this strategy succeeding.”
The terms of the deal were not disclosed.
For more information about MultiMechanics and its MultiMech software platform, please visit: https://multimechanics.com.
About MultiMechanics 
MultiMechanics develops multiscale material modeling and simulation software that virtually predicts failure in advanced materials at an unprecedented level of speed and accuracy. In 2017, MultiMechanics raised its seed funding round of $1.9 million from a co-investment led by Solvay Ventures. MultiMechanics was founded in 2010 and is based in Omaha, Nebraska.
About Anzu Partners 
Anzu Partners is a venture capital and private equity firm that invests in breakthrough industrial technologies. Anzu teams with entrepreneurs to develop and commercialize technological innovations by providing capital and deep expertise in business development, market positioning, global connectivity, and operations. For more information, please visit https://anzupartners.com. On Twitter: @anzupartners.
 
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<title>Z Capital-backed XRG buys two Mexican restaurant chains</title>
<link>https://www.pehub.com/2019/11/z-capital-backed-xrg-buys-two-mexican-restaurant-chains/</link>
<comments>https://www.pehub.com/2019/11/z-capital-backed-xrg-buys-two-mexican-restaurant-chains/#respond</comments>
<pubDate>Tue, 26 Nov 2019 14:57:10 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Consumer/Retail]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3607548</guid>
<description><![CDATA[Xperience Restaurant Group, an operator of California-based Mexican restaurants, has acquired chains SOL Mexican Cocina and solita Tacos & Margaritas. No financial terms were disclosed. XRG is backed by Z Capital.]]></description>
<content:encoded><![CDATA[Xperience Restaurant Group, an operator of California-based Mexican restaurants, has acquired chains SOL Mexican Cocina and solita Tacos & Margaritas. No financial terms were disclosed. XRG is backed by Z Capital.
PRESS RELEASE
LOS ANGELES, Nov. 26, 2019 /PRNewswire/ — Xperience Restaurant Group (“XRG” or the “Company”), one of the largest operators of full-service Mexican restaurants based in California and an affiliate of Z Capital Group (“Z Capital”), today announced the acquisition of casual and upscale-casual brands SOL Mexican Cocina and solita Tacos & Margaritas.
SOL Mexican Cocina was founded 10 years ago in Southern California and has grown to four locations in upscale areas of Newport Beach, Scottsdale, Playa Vista, and Denver. SOL’s kitchens feature a unique spin on fresh, healthy, coastal Mexican food, lovingly made from scratch. Its sister brand, solita Tacos & Margaritas, was founded in 2014 as a slightly more casual take on SOL. Solita has two Southern California locations in Huntington Beach and Valencia and focuses on great Mexican food, dynamite margaritas, and embodying Southern California’s laid-back lifestyle.
With this transaction, XRG’s portfolio, which consists of leading Mexican restaurant brands such as El Torito and Chevys Fresh Mex, has expanded the Company’s total unit count to 62 corporate-managed units.
“Our goal from day one has been to optimize our existing brands while simultaneously identifying attractive opportunities for growth,” said Randy Sharpe, Chief Executive Officer of Xperience Restaurant Group. “With the rapid transformation of the casual dining sector in recent years, it is more important than ever for brands to provide a unique experience for customers, which has long been a hallmark of both SOL and solita. These brands are a natural fit for our portfolio as we grow the XRG platform, and as the casual dining sector continues to evolve, we look forward to identifying and executing on acquisition opportunities that will further position XRG for long-term growth and success.”
“XRG’s dedication and commitment to ensuring its concepts provide customers and guests with an enjoyable and unforgettable dining experience has established the Company as a leading operator in the casual and fine dining space,” said James Zenni, President and Chief Executive Officer of Z Capital. “The acquisition of SOL and solita enhances the XRG platform, and I look forward to continuing to work closely with Randy and the management team to identify unique, customer-focused concepts and to execute on attractive opportunities for growth.”
“XRG is built on employing the best people, processes and technology to operate effectively and efficiently, while fostering a culture that creates a unique dining experience for guests,” said Rahul Sawhney, Senior Managing Director of Z Capital. “The acquisition of SOL and solita is not only a natural progression for XRG’s growth objectives, but also enhances the platform further and will likely be followed by additional acquisitions over the near term.”
About Xperience Restaurant Group: 
Headquartered in Cypress, California, Xperience Restaurant Group is one of the nation’s leading operators of casual, polished casual, and fine dining brands. XRG concepts include Acapulco, Chevys Fresh Mex, El Torito, El Torito Grill, Las Brisas, Who Song and Larry’s, Sinigual, and now, SOL and Solita. For more information, please visit https://protect-us.mimecast.com/s/Xhi4CBBnYvS8MvVXH6I1ZM?domain=xperiencerg.com.
About Z Capital 
Z Capital is a leading, privately held global investment firm having approximately $2.8 billion of assets under management across complementary opportunistic, value-oriented private equity and credit businesses.
Z Capital’s investors are some of the largest and most sophisticated global institutional investors including public and corporate pension funds, university endowments, foundations, sovereign wealth funds, central banks, and insurance companies.
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<title>CVS Health’s Aetna weighs divestiture of workers’ comp unit</title>
<link>https://www.pehub.com/2019/11/cvs-healths-aetna-weighs-divestiture-of-workers-comp-unit/</link>
<comments>https://www.pehub.com/2019/11/cvs-healths-aetna-weighs-divestiture-of-workers-comp-unit/#respond</comments>
<pubDate>Mon, 25 Nov 2019 22:00:00 +0000</pubDate>
<dc:creator><![CDATA[Sarah Pringle]]></dc:creator>
<category><![CDATA[Healthcare]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3607428</guid>
<description><![CDATA[CVS Health’s Aetna health insurance unit is evaluating a sale of its Coventry workers’ compensation division, according to three people familiar with the matter.
]]></description>
<content:encoded><![CDATA[CVS Health’s Aetna health insurance unit is evaluating a sale of its Coventry workers’ compensation division, according to three people familiar with the matter.
Bank of America Merrill Lynch has been engaged for financial advice on a sales process, the people said.
Teasers have been distributed to a narrow group of potential bidders, two people said. An initial bid date is not certain.
The process is expected to encompass a limited group of parties including large buyout funds and PE-backed strategics, two of the people said. The business could attract interest from strategics such as specialty workers comp company MedRisk or claims and technology services firm Sedgwick, both of which are owned by Carlyle Group, one of the people said.
While the process is in its early stages, the people suggested Coventry could command a value anywhere from several hundred million dollars to upwards of $1 billion.
Aetna years ago mulled a sale of the assets, retaining BofA in 2014 to field offers, Reuters reported. The strategic review came about a year after Aetna completed its $5.6 billion acquisition of Coventry Health Care.
The Coventry unit offers workers’ compensation, auto and disability care-management and cost-containment solutions for employers, insurance carriers and third-party administrators.
U.S. pharmacy chain CVS in November 2018 completed its $69 billion acquisition of Aetna. In order to win regulatory approval, Aetna sold its Medicare Part D prescription business to WellCare Health Plans for an undisclosed price.
While private equity firms have been large participants in the consolidation of the workers’ comp industry, some have struggled.
Apax Partners’ One Call Care Management saw a huge loss of equity following the firm’s leveraged buyout of the company in 2013, which was reportedly valued at $2.2 billion to $2.3 billion.
One Call in October <a href="https://www.prnewswire.com/news-releases/one-call-completes-comprehensive-recapitalization-300945813.html">completed a recapitalization</a> through an out-of-court restructuring, reducing its debt nearly $1 billion and its annual interest expense by approximately $90 million.
In connection with the transaction, a new investment of $375 million was made by existing One Call lenders KKR and GSO Capital Partners, Blackstone’s credit-focused investment arm, handing over control of the company to creditors.
Carlyle in December 2017 bought TA Associates-backed MedRisk, a managed care company specializing in physical rehab within workers’ comp, in a more than $1 billion deal, Buyouts reported. Carlyle in December <a href="https://www.pehub.com/2019/01/carlyle-closes-sedgwick-transaction/">completed its acquisition</a> of Sedgwick in a transaction valued at $6.7 billion, providing an exit for KKR.
A CVS and Aetna spokesperson declined to comment, while BofA did not return a request for comment on Monday.
Action Item: For more info on Coventry workers’ comp: <a href="https://bit.ly/2DhFEwo">https://bit.ly/2DhFEwo</a>
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<title>Boss to sell glove, boots and rainwear business to Audax-backed PIP</title>
<link>https://www.pehub.com/2019/11/boss-to-sell-glove-boots-and-rainwear-business-to-audax-backed-pip/</link>
<comments>https://www.pehub.com/2019/11/boss-to-sell-glove-boots-and-rainwear-business-to-audax-backed-pip/#respond</comments>
<pubDate>Mon, 25 Nov 2019 20:58:19 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Industrial/Manufacturing]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3607491</guid>
<description><![CDATA[Boss Manufacturing Company has agreed in principle to sell its glove, boots and rainwear business to Boston-based Protective Industrial Products Inc, a supplier of personal protective equipment. No financial terms were disclosed. PIP is a portfolio company of Audax Group.
]]></description>
<content:encoded><![CDATA[Boss Manufacturing Company has agreed in principle to sell its glove, boots and rainwear business to Boston-based Protective Industrial Products Inc, a supplier of personal protective equipment. No financial terms were disclosed. PIP is a portfolio company of Audax Group.
PRESS RELEASE
KEWANEE, Ill., Nov. 25, 2019 /PRNewswire/ — Boss Manufacturing Company (“Boss”), a national supplier of personal protection equipment, announced today that it has reached an agreement in principle to sell the assets of its glove, boots, and rainwear business to Protective Industrial Products, Inc. (“PIP”) of Latham, New York. Specific terms of the deal have not been announced with the transaction expected to close within thirty days.
Boss, a wholly owned subsidiary of Boss Holdings, Inc. (BSHI), is the oldest U.S. work glove company with operations dating back to 1893 and has been a leading supplier of work gloves and personal protective gear to both the consumer and industrial markets, including CAT® branded work gloves and safety products. PIP is an international supplier of personal protective equipment and is a portfolio company of Audax Group, a diversified private equity firm headquartered in Boston, Massachusetts with over 20 years of middle market experience and strategic investments in over 130 companies.
Boss Chief Operating Officer, Richard Bern, stated, “We feel a deal with PIP will be a natural fit for both companies. We believe the synergies of a combination of our businesses will position this partnership for future success.” The acquisition of Boss will further solidify PIP’s position as a global leader in hand protection and general safety products.
Boss plans to utilize a portion of the proceeds from the sale to pay off its existing debt and credit facility. After the sale, Boss and Boss Holdings would retain their Kewanee, Illinois headquarters, warehouse facilities and the majority of its operating staff. If completed, the transaction will provide Boss Holdings financial flexibility for its remaining businesses and working capital needs.
Other subsidiaries of Boss Holdings Inc. include: 
Boss Pet Products, Inc. and PetEdge LLC, headquartered in Oakwood Village, Ohio and Beverly, Massachusetts, respectively, nationwide distributors of a broad line of pet toys and pet supplies to retailers and an industry-leading ecommerce marketer of pet grooming products to pet groomers, boarders, veterinarians and individual consumers through PetEdge.com.
Galaxy Balloons, Incorporated, based in Cleveland, Ohio, a leading supplier of imprinted balloons, sport balls, ornaments and drinkware to the promotional products industry.
Boss Tech Products, Inc. d/b/a Aries Manufacturer, a distributor of a wide range of cell phone accessories, including Cat® branded chargers, power packs, cords and speakers.
FORWARD-LOOKING STATEMENTS 
This press release may contain various forward-looking statements. Such forward-looking statements involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from those matters expressed in or implied by such forward-looking statements. They involve known and unknown risks, uncertainties, and other factors, which are in some cases beyond the control of the company.
ABOUT BOSS MANUFACTURING 
Over 125 years of excellence. Building great things takes trust. Trust in talent. Trust in skills. Trust in tools. Since 1893, industrial workers, retailers, hobbyists and distributors have trusted Boss Manufacturing to deliver the safety wear and support they need for every situation. Today, Boss continues to respond to the urgent needs of our customers. Boss keeps up with emerging technologies to continue to offer innovative glove designs for changing work environments. As the oldest glove company in the United States, Boss has developed the infrastructure, inventory and relationships needed to ensure our customers and partners always have everything they need to succeed -as soon as they need it. Additional information about Boss Manufacturing is available at www.bossgloves.com.
ABOUT PROTECTIVE INDUSTRIAL PRODUCTS 
PIP’s global mission of “Bringing the Best of the World to You®” is fulfilled every day by way of its portfolio of companies and brands. Protective Industrial Products (PIP) is a leader in providing innovative safety products to wholesalers and distributors in the industrial channels. PIP, along with its recognized leading brands: G-Tek®, Assurance®, Kut-Gard, QRP®, Maximum Safety®, Dynamic® and most recently, Uniform Technology® and Boss® Manufacturing, are relied upon for personal protection by workers every day. West Chester® offers safety products to leading retail customers under the Safety Works®, Brahma®; Mud®; West County Gardener® and Hearos®, brands as well as some of the world’s most recognized and licensed brands. Additional information about PIP is available at www.pipglobal.com.
ABOUT AUDAX PRIVATE EQUITY 
Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. Since its founding in 1999, the firm has raised over $26 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $5 billion in more than 130 platforms and 825 add-on companies, and is currently investing out of its $3.5 billion, sixth private equity fund. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 250 employees and over 100 investment professionals, the firm is a leading capital partner for North American middle market companies. For more information, visit the Audax Group website www.audaxgroup.com.
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<title>Ascensus to buy Nyhart</title>
<link>https://www.pehub.com/2019/11/ascensus-to-buy-nyhart/</link>
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<pubDate>Mon, 25 Nov 2019 19:51:04 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Financial Services]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3607469</guid>
<description><![CDATA[Ascensus has agreed to acquire Indianapolis-based Nyhart, an employee benefits consulting firm. No financial terms were disclosed. Ascensus is a recordkeeping services provider, third-party administrator and government savings facilitator.]]></description>
<content:encoded><![CDATA[Ascensus has agreed to acquire Indianapolis-based Nyhart, an employee benefits consulting firm. No financial terms were disclosed. Ascensus is a recordkeeping services provider, third-party administrator and government savings facilitator.
PRESS RELEASE
Dresher, PA—November 25, 2019—Ascensus—whose technology and expertise help millions of people save for retirement, education, and healthcare—has entered into an agreement to acquire Nyhart, an employee benefits consulting firm that provides retirement (defined contribution, defined benefit, and actuarial) and healthcare actuarial services along with consumer-directed health and benefit continuation administration. Nyhart will immediately become part of the FuturePlan by Ascensus line of business.
Headquartered in Indianapolis, Indiana, Nyhart serves more than 2,400 clients in all 50 states from 9 strategically placed locations. With client assets that exceed $20 billion, the firm specializes in bringing a consultative approach to large, complex plans and is home to a talented employee population that features nearly 100 actuaries, employee benefit consultants, and administrators. Nyhart works with a diverse client base that includes states, cities, and municipalities; professional services firms; public sector entities; healthcare systems; religious organizations; and higher education institutions. Along with its retirement and healthcare solutions, the firm also offers Votaire, a proprietary health and financial wellness platform that allows employers to provide employees with the tools to help them develop a plan for reaching their financial goals.
“Nyhart’s unique strengths complement our already broad service offerings at FuturePlan and immediately increase our capacity to serve larger, more complex plans,” states Jerry Bramlett, head of FuturePlan. “We’re pleased to welcome Lisa Hague and her management team along with Nyhart’s exceptional group of associates—their skills and expertise will further strengthen our competitive edge in the retirement and benefits industry.”
“At Nyhart, we consistently look to hire and invest in high-quality people in order to provide the best possible service throughout our lines of business,” says Lisa Hague, Nyhart’s chief executive officer. “As part of FuturePlan, we can access the resources of a larger organization to the benefit of our clients while still providing them with the personalized experience and creative solutions that they’ve come to expect from us.”
“Nyhart has an outstanding track record of success, client focus, and service quality over multiple decades,” notes Raghav Nandagopal, Ascensus’ executive vice president of corporate development and M&A. “It is a highly reputable and well-run company positioned for growth through the cultivation of strong industry relationships and the delivery of differentiated solutions to a diverse client base.”
“With this acquisition, we significantly expand our retirement and healthcare offerings on a national level while leveraging Nyhart’s healthcare actuarial solutions as a new service to our distribution partners and current and prospective clients,” concludes Nandagopal.
About Ascensus 
Ascensus is the largest independent recordkeeping services provider, third-party administrator, and government savings facilitator in the United States. The firm delivers technology and expertise to help millions of people save for what matters most—retirement, education, and healthcare. For more information about Ascensus, visit ascensus.com. View career opportunities at careers.ascensus.com.
About FuturePlan by Ascensus 
FuturePlan by Ascensus is the nation’s largest retirement third-party administrator, combining high-touch local service with the strength and security of an industry leader. A line of business within Ascensus, FuturePlan’s dedicated team serves more than 46,000 retirement plan sponsors in more than 40 locations across the country as of September 30, 2019. For more information, visit futureplan.com.
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<title>TriWest-backed Strike Group buys Jedco</title>
<link>https://www.pehub.com/2019/11/triwest-backed-strike-group-buys-jedco/</link>
<comments>https://www.pehub.com/2019/11/triwest-backed-strike-group-buys-jedco/#respond</comments>
<pubDate>Mon, 25 Nov 2019 19:49:22 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Energy/Power]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3607466</guid>
<description><![CDATA[Strike Group Inc, which is backed by TriWest Capital Partners, has acquired Jedco Energy Services Corp. No financial terms were disclosed. Based in Red Deer, Alberta, Jedco is a provider of pipeline integrity and testing services in Western Canada.
]]></description>
<content:encoded><![CDATA[Strike Group Inc, which is backed by TriWest Capital Partners, has acquired Jedco Energy Services Corp. No financial terms were disclosed. Based in Red Deer, Alberta, Jedco is a provider of pipeline integrity and testing services in Western Canada.
PRESS RELEASE
Calgary, Alberta, November 2019
TriWest Capital Partners (“TriWest”) is pleased to announce that Strike Group Inc. (“Strike Group”) (a Fund V portfolio company), has acquired Jedco Energy Services Corp. (“Jedco”) from its existing shareholders. The investment was made in partnership with Jedco’s management team and existing shareholders.
Established in 2002 and based in Red Deer, Alberta, Jedco is a leading single source provider of pipeline integrity and testing services in Western Canada. Jedco works as a partner with its long-standing customers and prides itself on delivering efficient and quality workmanship in a safe and timely manner. Focus on people, performance and resources are core to Jedco’s success and contribute to its commitment to provide and maintain a safe work environment through the recognition of industry best practices.
The acquisition of Jedco allows the Strike Group to expand and diversify its service offering to new and existing customers in the pipeline integrity and testing industry. Strike Group will look to build off the strong relationships Jedco has built since 2002 and combine best practices of both Strike Group and Jedco to provide an industry leading service offering.
Strike Group’s President and CEO, Stephen Smith, said “The combination of Strike Group and Jedco brings together two great teams who value customer relationships, project execution, efficiency and safety. As a result of the transaction, Strike Group will be able to expand its service offering in the pipeline integrity and testing space and draw on the best practices and talents of each team”, Mr. Smith said.
About Jedco: 
Founded in 2002 and based in Red Deer, Alberta, Jedco is a leading single source provider of pipeline integrity and testing services in Western Canada.
About Strike Group: 
Founded in 2004 and based in Calgary, Alberta, Strike Group is an energy service and construction company focused on servicing energy, transmission and distribution, pipeline and industrial sectors throughout Western Canada. Strike Group provides project construction, fabrication, pipeline and facility construction, plant and production facility maintenance and turnarounds, module assembly and installation, and electrical and instrumentation services.
About TriWest Capital Partners: 
Founded in 1998 and based in Calgary, Alberta, TriWest is one of Canada’s leading private equity firms, having raised over $1.25 billion in committed capital through five funds. TriWest makes significant equity investments in profitable companies and works in partnership with management to generate superior financial returns through the pursuit of growth opportunities and a focus on operational excellence. TriWest provides more than just capital. The principals of TriWest have significant operational and financial expertise, making us effective partners in creating shareholder value. For more information about TriWest, please visit www.triwest.ca.
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<title>PE-backed CrossRoads acquires multiple assets from Surgical Frontiers</title>
<link>https://www.pehub.com/2019/11/pe-backed-crossroads-acquires-multiple-assets-from-surgical-frontiers/</link>
<comments>https://www.pehub.com/2019/11/pe-backed-crossroads-acquires-multiple-assets-from-surgical-frontiers/#respond</comments>
<pubDate>Mon, 25 Nov 2019 18:00:16 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Healthcare]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3607439</guid>
<description><![CDATA[CrossRoads Extremity Systems, which is backed by HealthpointCapital, has acquired several tech assets from Logan, Utah-based Surgical Frontiers LLC, a developer of advanced surgical technologies. No financial terms were disclosed. Mintz, Levin, Cohn, Ferris, Glovsky and Popeo P.C. provided legal counsel to HealthpointCapital and CrossRoads on the deal while Durham Jones & Pinegar provided legal counsel to Surgical Frontiers.]]></description>
<content:encoded><![CDATA[CrossRoads Extremity Systems, which is backed by HealthpointCapital, has acquired several tech assets from Logan, Utah-based Surgical Frontiers LLC, a developer of advanced surgical technologies. No financial terms were disclosed. Mintz, Levin, Cohn, Ferris, Glovsky and Popeo P.C. provided legal counsel to HealthpointCapital and CrossRoads on the deal while Durham Jones & Pinegar provided legal counsel to Surgical Frontiers.
PRESS RELEASE
NEW YORK and MEMPHIS, Tenn., Nov. 25, 2019 /PRNewswire/ — HealthpointCapital, the leading private equity firm focused exclusively on musculoskeletal healthcare, today announced that its Fund IV portfolio company, CrossRoads Extremity Systems, has completed the acquisition of several differentiated technology assets from Surgical Frontiers LLC. The add-on acquisition furthers CrossRoads’ strategy to build a market leading company in the high-growth orthopedic extremities sector.
The acquisition includes: 
1) the KATOR® family of advanced soft tissue-to-bone reattachment products for Achilles tendon repair, ligament stabilization and arthroscopic rotator cuff repair; 
2)the OsteoPrecise<img src="https://s.w.org/images/core/emoji/12.0.0-1/72x72/2122.png" alt="™" class="wp-smiley" style="height: 1em; max-height: 1em;" /> family of precision cutting guides for bone alignment in small-bone osteotomies and fusions; 
3)the SpeedButton<img src="https://s.w.org/images/core/emoji/12.0.0-1/72x72/2122.png" alt="™" class="wp-smiley" style="height: 1em; max-height: 1em;" /> product for anatomic ligament reattachment with stronger pull-out and better ligament footprint; 
4) the Metrics portfolio for high-precision, reproducible restoration of anatomic bone alignment and ligament function in high ankle sprains and ankle fractures.
All acquired products are FDA-cleared and were developed under the umbrella of Surgical Frontiers LLC, led by its founder and CEO Wade Fallin. The acquired products are covered by a total of 16 issued and 10 pending US patents.
Commenting on the announcement, Mike Mogul, HealthpointCapital’s President, said: “By investing in CrossRoads in May 2019, we set out to build an extremities market leader, leveraging the unique plate and staple combination technology for bone fixation. Today’s addition of Surgical Frontiers’ innovations is an important step toward that goal, adding highly differentiated soft-tissue repair assets, and further strengthening CrossRoads’ portfolio.”
“As we continue on our fast-growth trajectory, we are excited to add to our portfolio a range of technologies that have significant advantages over the current standard of care,” said Vernon Hartdegen, CEO and Co-Founder of CrossRoads. “These unique and highly complementary technologies and intellectual property will further round out our product portfolio and drive cross-selling opportunities. The acquisition is perfectly aligned with our philosophy of offering less-invasive surgical solutions centered on better outcomes for the patient and ease of use for the surgeon.”
HealthpointCapital invested in CrossRoads Extremity Systems in May 2019 with its patented Active Stabilization® technology that combines continuous dynamic compression and enhanced stability through a hybrid construct of a nitinol staple within a fixation plate. In addition, CrossRoads’ high-quality reusable instrumentation and unique EcoSMART® instrument recovery program promote efficient inventory management and improved economics for healthcare facilities.
Transaction details were not disclosed. Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. provided legal counsel to HealthpointCapital and CrossRoads, and Durham Jones & Pinegar provided legal counsel to Surgical Frontiers.
About HealthpointCapital 
Founded in 2002, HealthpointCapital is the leading private equity firm focused exclusively on the musculoskeletal sector. The Firm is led by CEO and founder John H. Foster and Mike Mogul, former Group President, Orthopaedics at Stryker Corporation and former CEO of DJO Global. HealthpointCapital brings together extensive medical technology operating experience, a strong private equity track record, and a deep network of relationships to help portfolio companies accelerate growth. Notable recent exits for HealthpointCapital include OrthoSpace (acquired by Stryker), Blue Belt Technologies (acquired by Smith & Nephew) and BioHorizons (acquired by Henry Schein).
For additional information, visit www.healthpointcapital.com.
About CrossRoads Extremity Systems 
CrossRoads Extremity Systems was founded in 2014 and is headquartered in Memphis, TN. The Company’s mission is to develop and commercialize innovative technologies in the orthopedic extremity sector that improve the operating room experience and patient outcomes through simplicity and accuracy for the surgeon, and sustainability and cost reduction for healthcare institutions. CrossRoads’ Active Stabilization® technology is the only technology on the market today to simultaneously offer enhanced stability with continuous compression, optimizing conditions for bone healing in fusion procedures. The Company leverages this technology in a broad range of procedure-specific, sterile-packed implants and instrumentation systems cleared for both lower and upper extremity indications. The Company’s EcoSMART® Instrument Service provides customers with gamma sterilized, reusable instruments for every surgical case and post-surgery recovery and processing of those instruments. EcoSMART® reduces the inefficiencies of traditional non-sterile instrument trays and eliminates the waste associated with typical disposable instruments.
For additional information, visit www.crextremity.com.
About Surgical Frontiers 
Surgical Frontiers develops advanced surgical technologies that are ready for clinical use. Focused primarily on musculoskeletal injuries and pathologies, the company collaborates with surgeons, industry, universities, and investors to bring advanced surgical technologies to the market that improve healthcare. Headquartered in Logan, UT, Surgical Frontiers was founded in 2014 as an incubator company led by CEO and founder Wade Fallin. 
http://www.healthpointcapital.com
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<title>PE-backed Pioneer Transformers acquires Power Partners from OpenGate</title>
<link>https://www.pehub.com/2019/11/pe-backed-pioneer-transformers-acquires-power-partners-from-opengate/</link>
<comments>https://www.pehub.com/2019/11/pe-backed-pioneer-transformers-acquires-power-partners-from-opengate/#respond</comments>
<pubDate>Mon, 25 Nov 2019 15:18:30 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Industrial/Manufacturing]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3607397</guid>
<description><![CDATA[Pioneer Transformers LP, a portfolio company of Mill Point Capital, has acquired Power Partners LLC from OpenGate Capital. No financial terms were disclosed. Based in Athens, Georgia, Power Partners is a maker of transformer products for investor-owned utility, public power, industrial and commercial OEMs and international customers.]]></description>
<content:encoded><![CDATA[Pioneer Transformers LP, a portfolio company of Mill Point Capital, has acquired Power Partners LLC from OpenGate Capital. No financial terms were disclosed. Based in Athens, Georgia, Power Partners is a maker of transformer products for investor-owned utility, public power, industrial and commercial OEMs and international customers.
PRESS RELEASE
FRANKLIN, Wis.–(BUSINESS WIRE)–Pioneer Transformers L.P. (“Pioneer Transformers”), a portfolio company of Mill Point Capital, announced today that it has acquired Power Partners, LLC (“Power Partners” or the “Company”) from OpenGate Capital, a Los Angeles-based private equity firm. Power Partners is a leading designer and manufacturer of high-quality pole-mount and pad-mount power transformers.
Power Partners manufactures a range of high-quality custom, semi-custom and standard transformer products for investor-owned utility, public power, industrial and commercial OEMs and international customers. Products include single-phase and three-phase pole-mount transformers, large-format pole-mount transformers and single-phase pad-mount transformers. The Company is headquartered in Athens, GA, and has been a reliable partner to its customers since its founding in 1958.
Dustin Smith, Partner at Mill Point, commented, “The acquisition of Power Partners is highly complementary to Pioneer as it dramatically diversifies Pioneer’s customer base, adds a natural extension to Pioneer’s existing product suite and results in a primarily replacement-driven revenue base. We identified Power Partners as an attractive opportunity for Pioneer prior to making our initial investment, and we are thrilled that Power Partners and its leadership team are joining the Mill Point family of companies.”
“Justin Smith, President of Power Partners, and his team have done an exceptional job implementing LEAN processes and optimizing their operations to create a highly-efficient pole-mount and pad-mount transformer business,” noted Antony Besso, Executive Chairman of Pioneer and an Executive Partner of Mill Point. “By combining Power Partners with the existing Pioneer platform, we have created a leading pure-play transformer company in North America, enabling us to better serve all customers.”
About Pioneer Transformers 
Pioneer Transformers is a leading engineer and manufacturer of a broad range of specialty liquid-filled and dry-type power transformers for niche applications in industrial, OEM and commercial and backup power markets. The Company has an operational history of over one-hundred years and services a diverse group of utility, commercial power, industrial manufacturing and engineering and procurement and construction customers. With a family of brands recognized across North America for innovation, customization, quality and reliability, Pioneer Transformers is the go-to provider for customers in need of specialty-configured power transformer products. For more information, please visit www.pioneertransformers.com. Pioneer Transformers is a portfolio company of Mill Point Capital.
About Mill Point Capital 
Mill Point Capital is a middle-market private equity firm focused on control-oriented investments in the business services and industrial sectors. The firm works with executive partners to leverage its investment professionals’ experience while providing strategic and operational guidance to drive long-term value creation in its portfolio companies. Mill Point is based in New York, NY. For more information, please visit www.millpoint.com.
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<title>Wind Point-backed Pestell Nutrition buys Premier Ag Resources</title>
<link>https://www.pehub.com/2019/11/wind-point-backed-pestell-nutrition-buys-premier-ag-resources/</link>
<comments>https://www.pehub.com/2019/11/wind-point-backed-pestell-nutrition-buys-premier-ag-resources/#respond</comments>
<pubDate>Mon, 25 Nov 2019 12:41:22 +0000</pubDate>
<dc:creator><![CDATA[Luisa Beltran]]></dc:creator>
<category><![CDATA[Consumer/Retail]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3607390</guid>
<description><![CDATA[Pestell Nutrition, a portfolio company of Wind Point Partners, said Nov. 25 that it acquired Premier Ag Resources. Financial terms weren’t announced. Premier Ag, of London, Ontario, distributes specialty pet food ingredients and feed additives across Canada and the U.S.]]></description>
<content:encoded><![CDATA[Pestell Nutrition, a portfolio company of Wind Point Partners, said Nov. 25 that it acquired Premier Ag Resources. Financial terms weren’t announced. Premier Ag, of London, Ontario, distributes specialty pet food ingredients and feed additives across Canada and the U.S.
PRESS RELEASE
Chicago, IL, November 25, 2019 – Wind Point Partners (“Wind Point”) and portfolio company, Pestell Nutrition (“PN” or the “Company”), are pleased to announce today that PN has acquired Premier Ag Resources (“PAR”). PAR, founded in 1992 and headquartered in London, Ontario, operates as a value-added distributor of specialty pet food ingredients and feed additives across Canada and the U.S.
The acquisition of PAR is complementary to PN, which also distributes a portfolio of feed ingredients, additives and related products, as the combination provides the opportunity for both companies to leverage their product offerings and cross-sell their respective customer bases. Furthermore, PAR represents an opportunity for PN to continue to penetrate the value-added specialty pet food ingredients and feed additives segments, a key strategic growth area for the Company. Post-integration, management will focus on optimizing PAR’s offerings and operations in an ongoing effort to establish the combined business as the preeminent distributor of animal nutrition and specialty pet food ingredients across North America.
Jerry Vergeer, Pestell Nutrition CEO, commented, “PAR is a great company with a diverse product portfolio and strong customer base across both the specialty pet food ingredient and animal feed additive sectors. When combined with Pestell Nutrition, we further strengthen our product offering to our customers and expand our geographic reach. The management and team at Premier Ag Resources have done an outstanding job of growing this great company over the past 27 years and we look forward to working with them to build on that success.”
Paul Peterson, Managing Director with Wind Point Partners, stated, “PAR is a highly strategic add-on and supports numerous aspects of Wind Point’s value creation plan. This acquisition is another example of how the Pestell Nutrition team is executing on our strategy to become a more diversified and value-added distributor across the animal nutrition industry. We’re very excited about this partnership and are looking forward to the opportunities ahead.”
The acquisition of PAR continues Wind Point’s long history of partnering and working with entrepreneur-owned businesses. This marks the second acquisition for PN since Wind Point’s original investment in June 2018. In August of 2019, PN acquired Pro Ag products, a leading Canadian distributor of branded feed additive products. 
Jim Finn and Dave Hensel, PAR’s co-founders, commented, “The transition of PAR’s ownership to Pestell Nutrition represents a transformative milestone for the business. Pestell Nutrition’s resources and industry expertise will accelerate the trajectory at PAR, facilitating long-term, sustainable growth. We are excited about PAR’s future as part of Pestell Nutrition.”
BMO Sponsor Finance led the debt financing for the transaction. Kirkland & Ellis LLP served as legal counsel to Pestell Nutrition. 
About Pestell Nutrition 
Pestell Nutrition, headquartered in New Hamburg, Ontario, is a leading distributor of minerals & feed ingredients, feed additives, and specialty pet food ingredients to a diverse customer base of pre mixers, feed mills, pet food companies, and other end users within the animal nutrition and pet food sectors across Canada and the U.S. The Company maintains 16 warehouses throughout North America, supporting distribution capabilities. Additional information about Pestell Nutrition can be found at www.pestellminerals.com.
About Wind Point Partners 
Wind Point Partners is a Chicago-based private equity investment firm with approximately $3 billion in assets under management. Wind Point focuses on partnering with top caliber management teams to acquire well-positioned middle market businesses where it can establish a clear path to value creation. The firm targets investments in the consumer products, industrial products, and business services sectors. Wind Point is currently investing out of Wind Point Partners IX, a fund that was initiated in 2019. For more information, please visit www.windpointpartners.com.
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<title>Nothing Bundt Cakes buys six San Diego bakeries</title>
<link>https://www.pehub.com/2019/11/nothing-bundt-cakes-buys-six-san-diego-bakeries/</link>
<comments>https://www.pehub.com/2019/11/nothing-bundt-cakes-buys-six-san-diego-bakeries/#respond</comments>
<pubDate>Mon, 25 Nov 2019 12:28:32 +0000</pubDate>
<dc:creator><![CDATA[Luisa Beltran]]></dc:creator>
<category><![CDATA[Consumer/Retail]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3607385</guid>
<description><![CDATA[Nothing Bundt Cakes, a portfolio company of Levine Leichtman Capital Partners, said Nov. 25 that it acquired six NBC franchisee bakeries in the San Diego market. Financial terms weren’t announced. NBC is a franchisor and operator of gourmet bakeries offering specialty bundt cakes at more than 320 locations in the U.S. and Canada.]]></description>
<content:encoded><![CDATA[Nothing Bundt Cakes, a portfolio company of Levine Leichtman Capital Partners, said Nov. 25 that it acquired six NBC franchisee bakeries in the San Diego market. Financial terms weren’t announced. NBC is a franchisor and operator of gourmet bakeries offering specialty bundt cakes at more than 320 locations in the U.S. and Canada.
PRESS RELEASE 
LOS ANGELES, Nov. 25, 2019 /PRNewswire/ — Nothing Bundt Cakes (“NBC”), a portfolio company of Levine Leichtman Capital Partners (“LLCP”), announced today that it has successfully acquired six NBC franchisee bakeries in the San Diego market (“San Diego Bakeries”). NBC is a market leading franchisor and operator of gourmet bakeries offering specialty Bundt cakes and related merchandise with over 320 locations in the United States and Canada. 
As company-owned operations, the San Diego Bakeries will benefit the NBC brand and support its West Coast bakery owners, eventually becoming NBC’s training base on the West Coast and serving as additional outlets for research & development and product innovation. The expanded company-owned geographical footprint will also allow NBC more direct touchpoints with its customers to ultimately drive the highest levels of guest satisfaction. 
Kyle Smith, CEO of Nothing Bundt Cakes, commented, “We are thrilled to add these San Diego Bakeries to our company-owned portfolio that includes locations in Dallas, Texas and Baton Rouge, Louisiana. We believe that this acquisition provides us a great opportunity to improve our overall support to our bakery owners, while providing an extraordinary experience to our guests.” 
Matthew Frankel, a Partner at LLCP, stated, “This acquisition demonstrates our continued support of the NBC investment. We remain focused on building value for the benefit of NBC’s bakery owners, guests, employees and investors. We are excited to take part in the next chapter of growth for the San Diego Bakeries.” 
About Levine Leichtman Capital Partners 
Levine Leichtman Capital Partners, LLC is a middle-market private equity firm with a 35-year track record of successfully investing across various targeted sectors, including franchising, professional services, education and engineered products. LLCP utilizes a differentiated Structured Equity investment strategy, combining debt and equity capital investments in portfolio companies. This unique structure provides a less dilutive solution for management teams and entrepreneurs, while delivering growth and income with a significantly lower risk profile.
LLCP’s global team of dedicated investment professionals is led by six partners who have worked together for an average of 22 years. Since inception, LLCP has managed over $10.7 billion of institutional capital across 14 investment funds and has invested in over 80 portfolio companies. LLCP currently manages $6.4 billion of assets – including its most recent flagship fund, Levine Leichtman Capital Partners VI, L.P., which closed in 2018 with $2.5 billion of committed capital – and has offices in Los Angeles, New York, Dallas, Chicago, Charlotte, London, Stockholm and The Hague.
About Nothing Bundt Cakes 
Nothing Bundt Cakes was founded in Las Vegas in 1997 and offers premium, high-quality Bundt Cakes in a variety of sizes and classic flavors. There are more than 320 corporate and franchised bakeries in 38 U.S. states and Canada. Nothing Bundt Cakes has been named to several prestigious industry lists, including Franchise Business Review’s “Top 50 Franchises” and “Top 40 Food Franchises,” Franchise Times’ “Fast and Serious” for four years in a row, and numerous local and regional vote-driven “best of” lists. The brand has also been featured by national media such as Entrepreneur, The Wall Street Journal and CBS’ “The Talk.”
For more information about Nothing Bundt Cakes, visit https://www.nothingbundtcakes.com. 
To learn more about franchising opportunities, visit https://franchise.nothingbundtcakes.com. 
Media Contact:
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<title>Schwab to buy TD Ameritrade in $26 bln deal</title>
<link>https://www.pehub.com/2019/11/schwab-to-buy-td-ameritrade-in-26-bln-deal/</link>
<comments>https://www.pehub.com/2019/11/schwab-to-buy-td-ameritrade-in-26-bln-deal/#respond</comments>
<pubDate>Mon, 25 Nov 2019 12:01:34 +0000</pubDate>
<dc:creator><![CDATA[Luisa Beltran]]></dc:creator>
<category><![CDATA[Financial Services]]></category>
<category><![CDATA[M&A]]></category>
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<description><![CDATA[Charles Schwab Corp said Nov. 25 that it agreed to buy TD Ameritrade in an all-stock transaction valued at approximately $26 billion. With the sale, TD Ameritrade’s board said it has suspended its CEO search, naming Stephen Boyle, TD Ameritrade EVP and CFO, as the company’s interim president and CEO.]]></description>
<content:encoded><![CDATA[Charles Schwab Corp said Nov. 25 that it agreed to buy TD Ameritrade in an all-stock transaction valued at approximately $26 billion. With the sale, TD Ameritrade’s board said it has suspended its CEO search, naming Stephen Boyle, TD Ameritrade EVP and CFO, as the company’s interim president and CEO.
PRESS RELEASE
SAN FRANCISCO & OMAHA, Neb.–(<a href="https://www.businesswire.com/">BUSINESS WIRE</a>)–The Charles Schwab Corporation (“Schwab”) and TD Ameritrade Holding Corporation (“TD Ameritrade”) today announced that they have entered into a definitive agreement for Schwab to acquire TD Ameritrade in an all-stock transaction valued at approximately $26 billion. Under the agreement, TD Ameritrade stockholders will receive 1.0837 Schwab shares for each TD Ameritrade share, which represents a 17% premium over the 30-day volume weighted average price exchange ratio as of November 20, 2019.
Schwab President and CEO Walt Bettinger said, “We have long respected TD Ameritrade since our early days pioneering the discount brokerage industry, and as a fellow advocate for investors and independent investment advisors. Together, we share a passion for breaking down barriers for investors and advisors through a combination of low cost, great service and technology. With this transaction, we will capitalize on the unique opportunity to build a firm with the soul of a challenger and the resources of a large financial services institution that will be uniquely positioned to serve the investment, trading and wealth management needs of investors across every phase of their financial journeys.”
The combination brings together two leading firms with proud and similar histories of making investing more accessible to all. More than 40 years ago, Schwab and TD Ameritrade started out as alternatives to traditional Wall Street brokerages. They helped lead a revolution to become the preferred model for full-service investing among tens of millions of direct investors and the go-to providers of custodial and consulting services for thousands of independent investment advisors. The firms’ mutual respect and complementary cultures will help Schwab successfully integrate TD Ameritrade into its future operations.
With today’s announcement, the TD Ameritrade Board of Directors has suspended its <a href="https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.amtd.com%2Fnews-and-stories%2Fpress-releases%2Fpress-release-details%2F2019%2FTD-Ameritrade-Provides-Leadership-Update%2Fdefault.aspx&esheet=52134815&newsitemid=20191125005330&lan=en-US&anchor=previously+disclosed&index=1&md5=a79fc420d33bcfcea2feb255719555a8">previously disclosed</a> CEO search, naming Stephen Boyle, TD Ameritrade EVP and CFO, as the company’s interim President and CEO. Mr. Boyle will assume leadership of the company effective immediately, guiding its management team through its fiscal 2020 plan and the proposed integration with Schwab.
“Partnering with Schwab on this transformative opportunity makes the right strategic and financial sense for TD Ameritrade,” Mr. Boyle said. “We share a common history—a journey since 1975 that has made Wall Street more accessible and financial dreams more attainable for millions of Americans. Our associates are fiercely proud of that legacy and all that we have accomplished to make TD Ameritrade one of the premier firms in financial services. Now we look to join forces with a respected firm like Schwab that shares our relentless focus, and to do more than we could do apart. Together, we can deliver the ultimate client experience for retail investors and independent registered investment advisors. We can continue to challenge the status quo, pooling our resources and expertise to transform lives—and investing—and deliver sustainable, long-term value to our many stakeholders.”
Mr. Bettinger added, “One of Chuck Schwab’s ambitions has always been to build a strong and independent Schwab that would be around to serve clients for many years in the future. We believe the combination of our two great companies positions us to be competing and winning in the investment services business for the long run—the very long run.”
Transaction Details
This transaction creates significant strategic benefits for the combined organization and is expected to deliver attractive returns for the owners of both companies, while further improving the investing and trading experience of both Schwab and TD Ameritrade clients. It allows Schwab to continue to add further scale on top of its organic growth, helping to drive sustainable, profitable growth and long-term value creation. More specifically, the acquisition will add to Schwab approximately
12 million client accounts, $1.3 trillion in client assets, and approximately $5 billion in annual revenue. This added scale is expected to result in lower operating expenses as a percentage of client assets (“EOCA”), help fund enhanced client experience capabilities, improve the company’s competitive position and further its financial success and diversification of revenue. The resulting combined firm is expected to serve 24 million client accounts with more than $5 trillion in client assets; taken together, the two firms recently generated total annualized revenue and pre-tax profits of approximately $17 billion and $8 billion, respectively.
The transaction has been unanimously approved by the Boards of Directors of Schwab and TD Ameritrade, as well as the Strategic Development Committee of TD Ameritrade’s Board—a committee comprised solely of outside, independent directors that was established by the Board of Directors of TD Ameritrade to oversee and conduct the process and all negotiations concerning the transaction on behalf of the Board. Post-closing, The Toronto-Dominion Bank (“TD Bank”), which currently holds approximately 43% of TD Ameritrade’s common stock, will have an estimated aggregate ownership position of approximately 13% in the combined company, with other TD Ameritrade stockholders and existing Schwab stockholders holding approximately 18% and 69%, respectively. TD Bank’s voting stake will be capped at 9.9%, with the balance of its position held in a new, non-voting class of Schwab common stock. Additional details regarding stockholder matters, including upcoming votes, will be provided in the subsequent merger proxy materials.
In addition, this transaction included a renegotiation of the Insured Deposit Account (IDA) agreement by Schwab and TD Bank, to be effective at closing. The agreement was extended for a 10-year term beginning in 2021, and the servicing fee paid by Schwab on balances within the IDA was reduced by 10 basis points. Over time, Schwab will have the option to reduce balances routed to the IDA sweep program, subject to certain restrictions. This arrangement provides flexibility to optimize related revenue as those balances are shifted to Schwab.
With anticipated synergies, the deal is expected to be 10-15% accretive to GAAP EPS and 15-20% accretive to Operating Cash EPS in year three, post-close. Focusing on expenses, current estimates are for approximately $1.8 to $2 billion run-rate expense synergies, which represents approximately 18-20% of the combined cost base. Some of the expense synergies the combined firm expects to realize will come from elimination of overlapping and duplicative roles. Additional synergies are expected to be achieved through real estate, administrative and other savings. Details on these synergies will be shared at a later date, once the integration process is underway.
The transaction is subject to customary closing conditions, including receipt of applicable regulatory approvals and approval by the stockholders of both companies. Closing is also subject to a “majority of the minority” TD Ameritrade stockholder approval condition, which means that the transaction must be approved by holders of a majority of the outstanding TD Ameritrade shares, other than TD Bank and certain other shareholders of TD Ameritrade that have entered into voting agreements. TD Bank and certain stockholders of TD Ameritrade (who collectively own approximately 52% of the TD Ameritrade shares), and certain stockholders associated with Charles R. Schwab (who own approximately 10% of the Schwab shares), have agreed to vote their shares in favor of the transaction. The parties expect the transaction to close in the second half of 2020, and integration efforts to begin immediately thereafter.
Following the close of the transaction, TD Bank will have the right to name two new seats on the Schwab Board of Directors and TD Ameritrade will name a single director.
Credit Suisse Securities (USA) LLC served as financial advisor and Davis Polk & Wardwell LLP acted as legal advisor to The Charles Schwab Corporation. PJT Partners LP and Sandler O’Neill + Partners LP served as financial advisors and Wachtell, Lipton, Rosen & Katz acted as legal advisor to the Strategic Development Committee of the Board of Directors of TD Ameritrade.
Integration Process, New Headquarters
The integration of the two firms is expected to take between 18 and 36 months, following the close of the transaction. Schwab has named Senior EVP and COO Joe Martinetto to oversee the integration initiative, assisted by a team of experts from both Schwab and TD Ameritrade.
As part of the integration process, the corporate headquarters of the combined company will eventually relocate to Schwab’s new campus in Westlake, Texas. Both companies have a sizable presence in the Dallas-Fort Worth area. This will allow the combined firm to take advantage of the central location of the new Schwab campus to serve as the hub of a network of Schwab branches and operations centers that span the entire U.S., and beyond. Any additional real estate decisions will be made over time as part of the integration process.
Schwab was founded in San Francisco and has maintained a longstanding commitment to the Bay Area, which will continue. A small percentage of roles may move from San Francisco to Westlake over time, either through relocation or attrition. The vast majority of San Francisco-based roles, however, are not anticipated to be impacted by this decision. Schwab expects to continue hiring in San Francisco and retain a sizable corporate footprint in the city.
Enhanced Value Proposition for Clients
Clients of TD Ameritrade and Schwab alike should benefit from the broader and deeper array of services. The combination will bring together the best of the two firms’ innovative and client-centric platforms, products and services. These include leading trading and wealth management platforms, custody platforms and tools, investor education, award-winning service, retirement services, banking, asset management, and a unique satisfaction guarantee. Schwab believes the combination will enhance its “no trade-offs” approach to value, increasing its ability to compete for new clients and deepen relationships with existing clients.
Mr. Bettinger added, “Schwab’s strong track record of performance is based on a simple but powerful strategy: viewing the world ‘Through Clients’ Eyes.’ We know that clients today have high and rising expectations, and we believe this transaction will help Schwab offer its clients an even broader range of award-winning services well into the future.”
Both firms have been widely recognized for their superior service and client offerings:
<ul>
<li>Schwab was ranked #1 in Customer Satisfaction with DIY Self-Directed Investors by J.D. Power; Charles Schwab Bank ranked Highest in Customer Satisfaction with Direct Retail Banking in the J.D. Power 2019 Direct Banking Satisfaction Study; Schwab was named #1 Broker Overall in the 2019 Investor’s Business Daily Best of the Online Brokers Survey; and StockBrokers.com ranked Schwab “Best in Class” Overall in 2019.</li>
<li>TD Ameritrade was ranked the Best Online Broker for 2018 in the Kiplinger’s Personal Finance Best Online Brokers review. Contributing to the #1 ranking were top scores for Research, Tools, and User Experience—each coming in at 5 stars—as well as high scores for Mobile App (4.5 stars) and Advisory Services (4 stars). Also, TD Ameritrade was named #1 Overall Broker in the StockBrokers.com 2019 Online Broker Review, and was rated #1 in nine different categories.</li>
</ul>
Management Conference Call
A conference call to discuss the announced transaction with Schwab President and CEO Walt Bettinger, Schwab CFO Peter Crawford and TD Ameritrade interim President and CEO Stephen Boyle will be held today, November 25, 2019, at 8:30 a.m., Eastern Standard Time. Access via webcast is available at <a href="https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.schwabevents.com%2Fcorporation&esheet=52134815&newsitemid=20191125005330&lan=en-US&anchor=www.schwabevents.com%2Fcorporation&index=2&md5=7680e2328a7540a96102b09e9a85495a">www.schwabevents.com/corporation</a>.
About TD Ameritrade
TD Ameritrade provides investing services and education to approximately 12 million client accounts totaling approximately $1.3 trillion in assets, and custodial services to more than 7,000 registered investment advisors. TD Ameritrade is a leader in U.S. retail trading, executing an average of approximately 800,000 trades per day, more than a quarter of which come from mobile devices. The company has a proud history of innovation, dating back to its start in 1975, and today its team of 10,000-strong is committed to carrying it forward, leveraging the latest in cutting edge technologies and one-on-one client care to transform lives, and investing, for the better. Learn more by visiting TD Ameritrade’s newsroom at <a href="https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.amtd.com&esheet=52134815&newsitemid=20191125005330&lan=en-US&anchor=www.amtd.com&index=3&md5=57fdeef01edbf36c3e006ec850ce83b3">www.amtd.com</a>, and reading stories at <a href="https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Ffreshaccounts.amtd.com%2Fhome%2Fdefault.aspx&esheet=52134815&newsitemid=20191125005330&lan=en-US&anchor=Fresh+Accounts&index=4&md5=6f82d5469b8d46a516801b7ce47a3636">Fresh Accounts</a>.
About Charles Schwab
The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with more than 365 offices and 12.1 million active brokerage accounts, 1.7 million corporate retirement plan participants, 1.4 million banking accounts, and $3.77 trillion in client assets as of September 30, 2019. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, <a href="https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.sipc.org%2F&esheet=52134815&newsitemid=20191125005330&lan=en-US&anchor=https%3A%2F%2Fwww.sipc.org&index=5&md5=11fe416af5b40b04e9ec6ce022b4a14f">https://www.sipc.org</a>), and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent, fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at <a href="https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.schwab.com%2F&esheet=52134815&newsitemid=20191125005330&lan=en-US&anchor=https%3A%2F%2Fwww.schwab.com&index=6&md5=b52fe070f8c9f0f4470b6dd01797ea02">https://www.schwab.com</a> and <a href="https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.aboutschwab.com%2F&esheet=52134815&newsitemid=20191125005330&lan=en-US&anchor=https%3A%2F%2Fwww.aboutschwab.com&index=7&md5=746982957c58b1738253c2f0e9b7b8f3">https://www.aboutschwab.com</a>.
Forward-Looking Statements
This press release contains forward-looking statements relating to the business combination transaction involving Schwab and TD Ameritrade, including stockholder and client benefits; scale; growth; EOCA; competitive position; anticipated synergies; accretion; and timing of closing and integration, that reflect management’s expectations as of the date hereof. Achievement of these expectations is subject to risks and uncertainties that could cause actual results to differ materially from the expressed expectations.
Important transaction-related factors that may cause such differences include, but are not limited to, the risk that expected revenue, expense and other synergies from the transaction may not be fully realized or may take longer to realize than expected; the parties are unable to successfully implement their integration strategies; failure of the parties to satisfy the closing conditions in the merger agreement in a timely manner or at all, including stockholder and regulatory approvals; and disruptions to the parties’ businesses as a result of the announcement and pendency of the merger. Other important factors include general market conditions, including the level of interest rates, equity valuations and trading activity; the parties’ ability to attract and retain clients and registered investment advisors and grow those relationships and client assets; competitive pressures on pricing, including deposit rates; the parties’ ability to develop and launch new and enhanced products, services, and capabilities, as well as enhance their infrastructure, in a timely and successful manner; client use of the parties’ advisory solutions and other products and services; client sensitivity to rates; the level of client assets, including cash balances; capital and liquidity needs and management; regulatory guidance; litigation or regulatory matters; any adverse impact of financial reform legislation and related regulations; and other factors set forth in Schwab’s and TD Ameritrade’s most recent reports on Form 10-K. Schwab and TD Ameritrade disclaim any obligation and do not intend to update or revise any forward-looking statements.
Important Information about the Transaction and Where to Find it
In connection with the proposed transaction, Schwab and TD Ameritrade will file relevant materials with the Securities and Exchange Commission (the “SEC”), including a Schwab registration statement on Form S-4 that will include a joint proxy statement of Schwab and TD Ameritrade that also constitutes a prospectus of Schwab, and a definitive joint proxy statement/prospectus will be mailed to stockholders of Schwab and TD Ameritrade. INVESTORS AND SECURITY HOLDERS OF SCHWAB AND TD AMERITRADE ARE URGED TO READ THE REGISTRATION STATEMENT, THE JOINT PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and security holders may obtain free copies of the registration statement and the joint proxy statement/prospectus (when available) and other documents filed with the SEC by Schwab or TD Ameritrade through the website maintained by the SEC at <a href="https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.sec.gov&esheet=52134815&newsitemid=20191125005330&lan=en-US&anchor=http%3A%2F%2Fwww.sec.gov&index=8&md5=0d369ad6313c90346c607f33a38a3be7">http://www.sec.gov</a> or by contacting the investor relations department of Schwab or TD Ameritrade at the following:
 
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<title>WindRose’s Accuity Delivery Systems seeks buyer</title>
<link>https://www.pehub.com/2019/11/windroses-accuity-delivery-systems-seeks-buyer/</link>
<comments>https://www.pehub.com/2019/11/windroses-accuity-delivery-systems-seeks-buyer/#respond</comments>
<pubDate>Fri, 22 Nov 2019 20:32:47 +0000</pubDate>
<dc:creator><![CDATA[Sarah Pringle]]></dc:creator>
<category><![CDATA[Healthcare]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3607335</guid>
<description><![CDATA[Accuity Delivery Systems, the WindRose Health Investors-backed provider of outsourced revenue cycle management services to hospitals, is exploring a sale, according to four sources.
]]></description>
<content:encoded><![CDATA[Accuity Delivery Systems, the WindRose Health Investors-backed provider of outsourced revenue cycle management services to hospitals, is exploring a sale, according to four sources.
Houlihan Lokey is advising on the sales process, two of the sources said, one of whom said initial bids have been submitted.
Accuity’s trailing 12-month Ebitda sits at approximately $14 million, two of the sources said. One of the sources said the company is marketing run-rate Ebitda in the mid-$20 million range, with hopes of fetching a mid-teens multiple.
New York’s WindRose, formerly MTS Health Investors, completed its investment in Accuity in August 2017.
Led by Founder and CEO Eric Moskow, Accuity offers revenue cycle management services to hospitals through a clinical documentation improvement program, which helps ensure patients’ medical records are properly documented.
The company also provides inpatient coding and quality assurance to ensure appropriate reimbursement is applied, as well as business intelligence tools to streamline the revenue cycle process.
Accuity’s Moskow is a longtime entrepreneur, having previously founded companies including Data Driven Delivery Systems, which is also a former portfolio company of WindRose.
The process comes as WindRose-backed data-driven healthcare marketing firm Medical Knowledge Group seeks a buyer via Harris Williams. Buyouts initially reported on the upcoming process in June.
WindRose in June completed a $200 million dividend recapitalization of myNexus after calling off a UBS-run auction that kicked off last fall, Buyouts reported. In connection with the dividend recap, a source familiar with the matter said the PE firm had so far made close to 15x its money on the healthcare benefits management company.
Also in June, the firm concluded its Harris Williams-run sales process for Ovation Fertility through a sale to Morgan Stanley Capital Partners valued around the ballpark of $150 million, Buyouts reported.
WindRose declined to comment, while Houlihan Lokey and Accuity’s Moskow didn’t immediately return requests for comment on Friday.
Action Item: Check out WindRose’s latest Form ADV: <a href="https://bit.ly/35phhst">https://bit.ly/35phhst</a>
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<title>Latium USA’s Four Seasons acquires C-Thru Sunrooms</title>
<link>https://www.pehub.com/2019/11/latium-usas-four-seasons-acquires-c-thru-sunrooms/</link>
<comments>https://www.pehub.com/2019/11/latium-usas-four-seasons-acquires-c-thru-sunrooms/#respond</comments>
<pubDate>Fri, 22 Nov 2019 16:42:30 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Industrial/Manufacturing]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3607318</guid>
<description><![CDATA[Latium USA’s Four Seasons Building Products has acquired C-Thru Sunrooms, a provider of all season rooms, patios, enclosures and patio covers. Sphaeris Capital advised the board of Latium Enterprises and Latium USA on the transaction.]]></description>
<content:encoded><![CDATA[Latium USA’s Four Seasons Building Products has acquired C-Thru Sunrooms, a provider of all season rooms, patios, enclosures and patio covers. Sphaeris Capital advised the board of Latium Enterprises and Latium USA on the transaction.
PRESS RELEASE
New York, NY (November 20, 2019) – Sphaeris Capital today announced the completion of the acquisition of C-Thru Sunrooms by Latium USA’s Four Seasons Building Products. This investment grows the Latium USA business, which continues its position as the largest sunroom, conservatory and patio enclosures business in North America.
C-Thru provides a full range of all season rooms, patios, enclosures and patio covers with unique features that complement Four Season’s existing product portfolio. C-Thru’s California-based operations have been focused on the western U.S. which will be enhanced by Four Season’s national manufacturing and distribution footprint. 
Sphaeris Capital advises the board of Latium Enterprises and Latium USA. This investment marks Latium USA’s fourth acquisition and collaboration with Sphaeris Capital in a program to grow Latium’s residential and commercial building products platform.
Latium USA is a leading North American manufacturer and distributor of building and home improvement products related to “enjoyment of the home’s outside space.” Latium USA is owner in the U.S. of Four Seasons Building Products, Four Seasons Sunrooms & Windows, LifeRoom, LK Aluminum, and Superior Mason Products. Latium previously acquired Metals USA’s Building Products division from Metals USA Inc., now a division of Reliance Steel.
Daniel Rosen, Sphaeris Capital’s Managing Partner said, “We continue to execute an active investment plan with Latium USA that, with this 4th acquisition, has created and grown the largest sunroom business in North America. “Sphaeris and Latium are enthusiastic about the proprietary opportunities we’re able to originate and execute to achieve the board’s growth vision.”
Latium USA and Sphaeris have been implementing a sector roll-up in North American building products and home improvement focusing on manufacturing and distribution businesses in the outdoor space for commercial and residential repair and remodeling.
Targeted product segments include, amongst other, conservatories & sunrooms, patios, patio enclosures, pergolas, carports, windows, awnings and screens. Latium USA and Sphaeris Capital are seeking new investments in companies with total enterprise values between $10 million – $200 million.
Sphaeris Capital is proud of its partnership with Latium USA, Latium Enterprises, and their portfolio companies. Latium USA is the North American affiliate of Latium Enterprises, a diversified global group of companies with investments in industrials, building products, home improvement, consumer, retail, media, technology, renewable energy and real estate generating annual sales of approximately $1 billion. 
Rosen commented, “We’re pleased to continue our strong partnership with the Kennedy family of the UK, the Latium group of companies, and all of its seasoned people in the U.S. and Europe. Latium and we share a long-term outlook for North America with the flexibility to invest and manage diverse investments throughout different economic cycles.”
Sphaeris Capital Management 
Sphaeris Capital is an investment manager and advisor. Sphaeris is a specialist in add-on acquisitions programs to grow equity value for leading private equity-owned and other private and public companies. Sphaeris runs active buy-side programs to identify and acquire multiple proprietary—typically non-auction—targets. The firm works closely with management and boards to design and execute institutional-grade outreach programs to capture inorganic growth. Sphaeris’ programs can be tailored for sector roll-ups, single acquisitions and/or for non-core divestitures. The firm acts as a trusted resource, working with portfolio companies of the world’s leading alternative asset managers. Sphaeris was awarded “2017 Cross Border Deal of the Year ($50M-$100M)” by The M&A Advisor for advising Jacuzzi Brands on two simultaneous acquisitions. Sphaeris Capital is also an investment manager making proprietary private credit and equity investments. Securities offered via M&A Securities Group Inc., an unaffiliated broker dealer.
Latium USA 
Latium USA is an investor and operator of leading North American building products businesses, including Four Seasons Building Products, Four Seasons Sunrooms & Windows, Four Seasons Life Room and LK Aluminum. Latium USA’s portfolio companies are known for high quality products that innovate and transform outdoor living spaces. Latium maintains a network of over 3,000 professional dealers, contractors and distributors in remodeling, commercial and residential markets. Latium USA is the North American affiliate of Latium Enterprises, a diversified global group of companies based in Europe, with investments in industrials, building products and home improvement, consumer, retail, media, technology, renewable energy and real estate.
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<title>L Catterton-backed Il Makiage buys NeoWize</title>
<link>https://www.pehub.com/2019/11/l-catterton-backed-il-makiage-buys-neowize/</link>
<comments>https://www.pehub.com/2019/11/l-catterton-backed-il-makiage-buys-neowize/#respond</comments>
<pubDate>Fri, 22 Nov 2019 15:30:31 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[M&A]]></category>
<category><![CDATA[Tech]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3607311</guid>
<description><![CDATA[Makeup brand Il Makiage has acquired NeoWize, a data science startup that develops advanced active machine learning algorithms. No financial terms were disclosed. Il Makiage is backed by L Catterton.]]></description>
<content:encoded><![CDATA[Makeup brand Il Makiage has acquired NeoWize, a data science startup that develops advanced active machine learning algorithms. No financial terms were disclosed. Il Makiage is backed by L Catterton.
PRESS RELEASE
New York, November 22, 2019 – IL MAKIAGE, the digital-first prestige beauty brand, is deepening its investment in technology and data with today’s announcement that it has acquired NeoWize. NeoWize is a Y Combinator-backed data science startup that develops advanced active machine learning algorithms. The powerful combination of IL MAKIAGE and NeoWize allows for further innovation within the beauty industry, bringing together complementary capabilities in AI, data science and algorithmic thinking, for next-generation and enhanced optimization of e-commerce experiences. The founders of NeoWize, mathematicians and deep learning algorithm specialists, will join IL MAKIAGE’s technology team to build the leading tech and data science team in the industry.
The acquisition follows IL MAKIAGE’s successful releases of their PowerMatch AI Algorithm and Kenzza, their new e-commerce platform and business model, which utilizes influencer content to link inspiration, education, trial and purchase experiences within a singular site. Through these tools, IL MAKIAGE amassed a substantial amount of industry data which the NeoWize team will leverage to bolster IL MAKIAGE’s tireless improvement of its AI, machine learning and tech capabilities. This will enable IL MAKIAGE to deliver unparalleled value to IL MAKIAGE’s customers.
NeoWize’s two founders are joining IL MAKIAGE. Omer Nevo will become Vice President of R&D and Yoav Cafri will become Chief Data Scientist. Nevo and Cafri both came from elite intelligence units in the Israel Defense Forces (IDF) and will bring their extensive experience to the larger IL MAKIAGE team. Nevo is a machine learning and big data expert, who developed his expertise over 12 years at the elite Unit 8200 in the IDF. Cafri served in the Center for Encryption and Information Security in the IDF, as well as the units that manage data processing for the Defense Forces and the protection of military data. Before founding NeoWize, Cafri used his vast experience to run information technology for a large American retailer. Prior to that, he founded a startup that was acquired by Yandex.
“IL MAKIAGE is laser-focused on staying at the forefront of the intersection of beauty, technology and data science. We’re very excited to welcome NeoWize and their incredible AI-driven and data science backed solutions that will bolster our position as one of the leading tech and data science companies in the industry, allowing us to provide unparalleled customer experiences,” says Oran Holtzman, CEO of IL MAKIAGE. “Today’s acquisition marks a substantial milestone for our technology team.”
“We founded NeoWize to innovate at the cutting edge of AI, technology and e-commerce,” says NeoWize co-founder Omer Nevo. “We are excited to join the leading next generation digitally native beauty brand that shares the same tech-first approach. IL MAKIAGE modernizes the way beauty consumers shop and we can’t wait to continue developing exceptional AI tools and creating the most advanced and exciting online user experiences.”
The NeoWize team will relocate to IL MAKIAGE’s offices, and all employees will remain with the company. NeoWize will continue to serve its current customers and add new customers, independent of its relationship with IL MAKIAGE.
About IL MAKIAGE 
IL MAKIAGE is the defiant, tech-first, direct-to-consumer beauty brand that embraces an unapologetic, maximalist approach. Combining advanced technology capabilities with superior prestige beauty products, the company’s extensive R&D team developed over 500 SKUs with uncompromising attention to detail. With their incredibly successful PowerMatch algorithms, their industry-changing e-commerce platform, and best-in-class products, IL MAKIAGE is redefining the online beauty industry. IL MAKIAGE was relaunched in the U.S. in June 2018 by brother-sister duo and entrepreneurs Oran Holtzman and Shiran Holtzman-Erel and is headquartered in SoHo, NYC.
About NeoWize 
NeoWize changes the way we look at machine learning, deep learning algorithms and technology when it comes to e-commerce. Current deep learning algorithms focus on making the most out of the data available. NeoWize utilizes active machine learning, neural networks and adaptive input to create more data and better data, thus increasing its predictive power even with limited available data.
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<title>KKR to make 3x its money on sale of LGC</title>
<link>https://www.pehub.com/2019/11/kkr-to-make-3x-its-money-on-sale-of-lgc/</link>
<comments>https://www.pehub.com/2019/11/kkr-to-make-3x-its-money-on-sale-of-lgc/#respond</comments>
<pubDate>Thu, 21 Nov 2019 20:52:17 +0000</pubDate>
<dc:creator><![CDATA[Sarah Pringle]]></dc:creator>
<category><![CDATA[Healthcare]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3607234</guid>
<description><![CDATA[KKR is poised to generate a little more than 3x its money on its sale of U.K. life science tools company LGC Group, according to a source familiar with the matter.
]]></description>
<content:encoded><![CDATA[KKR is poised to generate just over 3x its money through its sale of U.K. life science tools company LGC Group, according to a source familiar with the matter.
Four years into its investment, the buyout firm said Thursday it agreed to sell LGC to European private equity groups Cinven and Astorg.
Financial terms of the transaction weren’t disclosed; however, this source and a second said the deal assigns LGC a value of approximately 3 billion pounds ($3.9 billion). The valuation implies an Ebitda multiple just over 20x, one of the sources said.
Buyouts initially reported in August that JP Morgan <a href="https://www.pehub.com/buyouts/potential-sale-of-kkrs-lgc-expected-to-produce-3-bln-plus-deal/">had been retained</a> to advise on an upcoming sales process for LGC, with a potential deal expected to value the company north of $3 billion.
London’s LGC provides a range of scientific measurement and testing products and services. The company serves almost 50,000 labs worldwide, with customers across the biotech and pharmaceutical, clinical diagnostics, food, agbio and environment and research and government markets.
The company’s revenue surpassed 448 million pounds in 2019, according to a Thursday <a href="https://www.pehub.com/2019/11/kkr-to-sell-lgc-to-cinven-and-astorg/">news release</a>.
Led by CEO Tim Robinson, LGC fueled growth through an aggressive M&A strategy under KKR’s ownership. LGC has executed 15 transactions since the firm’s initial acquisition in December 2015.
KKR’s investment was done primarily through the KKR European Fund IV, which is fully invested across 14 transactions.
LGC’s M&A playbook has focused on building out its geographic footprint in North America and Asia. The company most recently struck a deal in August to purchase a majority stake in Toronto Research Chemicals, a supplier of synthetic organic bio-chemicals.
In other notable M&A, LGC in November 2018 bought SeraCare Life Sciences, a supplier of biological products to the diagnostics industry. The transaction marked an exit for Linden Capital Partners and was valued between $200 million and $250 million, a source previously told Buyouts.
KKR bought LGC in December 2015 from Bridgepoint Partners.
Financial terms weren’t disclosed, but the competitive auction for LGC was anticipated to command more than 600 million pounds, Reuters reported at the time.
Bridgepoint acquired LGC from LGV Capital in 2010 in a deal valued at 257 million pounds.
LGC’s inception dates to 1842, when the Laboratory of the Board of Excise was established in London to regulate tobacco adulteration.
Action Item: Check out Cinven’s latest Form ADV: <a href="https://bit.ly/34dxb9e">https://bit.ly/34dxb9e</a>
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<title>H.I.G-backed Vision acquires SourceLink</title>
<link>https://www.pehub.com/2019/11/h-i-g-backed-vision-acquires-sourcelink/</link>
<comments>https://www.pehub.com/2019/11/h-i-g-backed-vision-acquires-sourcelink/#respond</comments>
<pubDate>Thu, 21 Nov 2019 19:28:07 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Business Services]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3607232</guid>
<description><![CDATA[Vision Integrated Graphics Group LLC, which is backed by H.I.G. Capital, has acquired Chicago-based SourceLink Acquisition LLC, a provider of marketing solutions. No financial terms were disclosed.
]]></description>
<content:encoded><![CDATA[Vision Integrated Graphics Group LLC, which is backed by H.I.G. Capital, has acquired Chicago-based SourceLink Acquisition LLC, a provider of marketing solutions. No financial terms were disclosed.
PRESS RELEASE
MIAMI–(BUSINESS WIRE)–H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with $34 billion of equity capital under management, is pleased to announce that its portfolio company, Vision Integrated Graphics Group LLC (“Vision”), has acquired SourceLink Acquisition LLC (“SourceLink”).
Headquartered in suburban Chicago, SourceLink provides personalized, turnkey marketing solutions which generate high returns on investment for businesses across several industries, including financial services, healthcare, and insurance. SourceLink’s comprehensive suite of data-driven, omnichannel marketing solutions leverage data modeling capabilities in conjunction with digital marketing expertise to reach a client’s best prospects while driving higher responses rates and lowering customer acquisition costs.
“SourceLink is a highly strategic and complementary investment that will accelerate our evolution into a fully-integrated, omnichannel marketing solutions provider, dedicated to helping clients acquire and engage customers,” said Brad Moore, Vision’s CEO. “We have been very impressed with SourceLink’s compatible culture and leadership, their data analytics team and their digital agency, Path Interactive, all of which will greatly benefit our clients.”
Don Landrum, CEO of SourceLink added, “We are excited to join the Vision team and share Brad’s enthusiasm for what our companies can accomplish together. We are looking forward to utilizing the scale and resources of the combined company to deliver increasingly differentiated solutions and value to current and new clients.”
“SourceLink helps transform Vision into a highly diversified provider of targeted marketing solutions at a time when companies are hyper-focused on generating the highest ROI on their marketing spend,” said Ryan Kaplan, Managing Director at H.I.G. “We look forward to continuing to support the efforts of the combined management team’s efforts through this next exciting phase of growth.”
About Vision 
Vision is a leading provider of tech-enabled, data-driven marketing solutions focused on customer acquisition and engagement. The Company provides personalized, turnkey marketing solutions which generate high returns on investment across the financial services, insurance, and healthcare, retail and automotive industries. Vision’s end-to-end automated marketing campaigns rely on data-analytics, creative services and multi-channel execution to drive higher response rates and lower customer acquisition costs for clients. For more information, please visit www.visionps.com.
About SourceLink 
SourceLink is a highly differentiated, fully-integrated marketing services provider delivering ROI-driven omni-channel marketing solutions. The Company stands out in its breadth and sophistication of services provided to middle market clients. In-house database and analytics experts use customer intelligence tools to profile and segment client prospects through predictive modeling and 2,500+ validated data variables. The 65 person digital team optimizes marketing programs across a full suite of digital tools and channels including SEO, paid search, social media, digital media, design and development, and video production. The Company has been ranked among Ad Age’s 20 highest revenue marketing services agencies in the U.S. for 13 straight years. For more information, please visit www.sourcelink.com.
About H.I.G. Capital 
H.I.G. is a leading global private equity and alternative assets investment firm with over $34 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:
H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion.
For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.
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<title>EQT-backed Cast & Crew buys Sargent-Disc</title>
<link>https://www.pehub.com/2019/11/eqt-backed-cast-crew-buys-sargent-disc/</link>
<comments>https://www.pehub.com/2019/11/eqt-backed-cast-crew-buys-sargent-disc/#respond</comments>
<pubDate>Thu, 21 Nov 2019 19:24:43 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Business Services]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3607224</guid>
<description><![CDATA[Cast & Crew, which is backed by EQT, has acquired UK-based Sargent-Disc, a provider of film and television payroll, accounting, software and services. No financial terms were disclosed.]]></description>
<content:encoded><![CDATA[Cast & Crew, which is backed by EQT, has acquired UK-based Sargent-Disc, a provider of film and television payroll, accounting, software and services. No financial terms were disclosed.
PRESS RELEASE
BURBANK, Calif.–(BUSINESS WIRE)–Cast & Crew, a leading provider of software and services for the entertainment production industry, has acquired UK-based Sargent-Disc, as announced by Eric Belcher, Chief Executive Officer. Sargent-Disc is the premier UK and international provider of film and television payroll, accounting, software and services. The acquisition aligns with Cast & Crew’s strategic vision to be the end-to-end global provider of software and payroll services for motion pictures, television, live events, commercials and music tours, providing best-in-class customer service to the entertainment industry. This marks the fifth strategic acquisition by Cast & Crew in the last four years – and its first under new private equity sponsor EQT.
Sargent-Disc, the UK’s market leader for production payroll and residuals, offers an integrated range of solutions to the entertainment industries, including production accounting and production services. These are complimented by its Digital Production Office® suite of software solutions including CrewStart<img src="https://s.w.org/images/core/emoji/12.0.0-1/72x72/2122.png" alt="™" class="wp-smiley" style="height: 1em; max-height: 1em;" />, Digital Purchase Order and the SD Production Card – designed to improve efficiencies and reduce carbon emissions on production. For over 33 years, the award-winning company has established many long-standing relationships within the entertainment sphere across Europe and the rest of the world as a result of its focus on technology and excellent customer service.
“The addition of Sargent-Disc to the Cast & Crew family marks an important milestone in our company’s history as we enter the UK and various international markets,” said Eric Belcher, Chief Executive Officer of Cast & Crew. “Sargent-Disc is a family-owned company with integrity, expertise and an excellent reputation for customer service and cutting-edge solutions tailored to UK and international productions. Not only are we excited about the commercial prospects, but we truly value our alignment with Sargent-Disc in terms of our shared values, corporate culture and vision for the rapid technological transformation of our industry.”
Sargent-Disc will continue to function under its own brand with its current staff based at its headquarters in Beaconsfield, UK. Laurence Sargent and Lara Sargent will continue to oversee the operations of Sargent-Disc and lead international growth efforts for the combined company.
“We are delighted to be joining forces with Cast & Crew. Their payroll, digital products and residuals have been at the forefront of industry innovation and we are looking forward to driving the international expansion of Cast & Crew,” says Lara Sargent. Dr. Laurence Sargent adds, “Our ethos and strategies are well aligned, and this deal provides us with an opportunity to better support the needs of our clients through the complexities of international production. Our combined cultures and focus on customer service excellence will enhance our ability to deliver innovative Digital Production Office® solutions – providing our clients with an unparalleled suite of services.”
For Cast & Crew, the transaction marks an important addition to the ongoing acquisitions of market leaders in payroll and production software and services, including CAPS, Final Draft, Critique and Checks & Balances. Cast & Crew is excited to welcome the talented Sargent-Disc team to its combined company.
With the support of parent company, EQT, this acquisition further solidifies the company’s position as market leader. “Cast & Crew mobilised quickly after closing the sale with us and aligned as a team on the long-term strategic vision for the combined company. A critical component of the growth plan is international expansion and the acquisition of Sargent-Disc and partnership with the Sargent family was the perfect way to accelerate the overall strategy,” added Kasper Knokgaard, Partner of EQT.
The terms of the transaction were not disclosed. Cast & Crew was represented by the law firm of Latham & Watkins, LLP. Sargent-Disc was represented by Harbottle & Lewis LLP.
ABOUT CAST & CREW 
Cast & Crew Entertainment Services, LLC (www.castandcrew.com) provides technology-enabled payroll and human resources, accounting and financial, and workflow and productivity software and services to the entertainment industry. Cast & Crew services include payroll processing, residuals processing, workers’ compensation services, labor relations, production incentives and production tax credit financing. Cast & Crew PSL+ production accounting software serves the needs of the film, television and digital media industries. The company was founded in 1976 and its corporate headquarters are in Burbank, California.
ABOUT EQT 
EQT is a leading investment firm with approximately EUR 50 billion in raised capital across 27 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
ABOUT SARGENT-DISC 
Sargent-Disc has been at the centre of the British entertainment industries since 1986. Based in Beaconsfield, UK, the family business was founded by John and Marija Sargent. Specialising in production payroll, residuals, accounting and software services it is now run by brother and sister team Lara and Laurence Sargent. The company remains focused on service excellence and the development of innovative Digital Production Office® technology solutions that simplify production workflows and take the paper out of production. Sargent-Disc is an independently verified carbon neutral company and its processes are ISO:27001:2013 certified.
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<title>Fortress to sell CMQ to Canadian Pacific</title>
<link>https://www.pehub.com/2019/11/fortress-to-sell-cmq-to-canadian-pacific/</link>
<comments>https://www.pehub.com/2019/11/fortress-to-sell-cmq-to-canadian-pacific/#respond</comments>
<pubDate>Thu, 21 Nov 2019 16:53:22 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Business Services]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3607203</guid>
<description><![CDATA[Canadian Pacific has agreed to acquire Central Maine & Quebec Railway from Fortress Investment Group. No financial terms were disclosed. CMQ owns rail lines mostly in Quebec and Maine. The transaction is currently expected to close at the end of 2019.
]]></description>
<content:encoded><![CDATA[Canadian Pacific has agreed to acquire Central Maine & Quebec Railway from Fortress Investment Group. No financial terms were disclosed. CMQ owns rail lines mostly in Quebec and Maine. The transaction is currently expected to close at the end of 2019.
PRESS RELEASE
CALGARY and NEW YORK, Nov. 20, 2019 /PRNewswire/ – Canadian Pacific (TSX: CP) (NYSE: CP) and Fortress Transportation and Infrastructure Investors LLC (NYSE: FTAI) announced they have entered into a definitive agreement whereby CP will acquire the Central Maine & Quebec Railway (“CMQ”).
CMQ owns 481 miles (774 kilometres) of rail lines primarily in Quebec and Maine. The end-to-end transaction will provide CP customers with seamless, safe and efficient access to ports at Searsport, Maine and to Saint John, New Brunswick, via Eastern Maine Railway Company (EMRY) and New Brunswick Southern Railway (NBSR), thereby preserving and enhancing competition.
“This strategic acquisition gives CP a true coast-to-coast network across Canada and an increased presence in the eastern U.S.,” said CP President and CEO Keith Creel. “With additional port access, more dots on the map, and our proven precision scheduled railroading operating model we are confident this transaction will bring benefits to all stakeholders moving forward.”
As part of the transaction, FTAI will retain ownership of Katahdin Railcar Services (KRS), a tank car cleaning and repair facility, and the contract to operate at a 12-mile branch line at FTAI’s Long Ridge Energy Terminal in Monroe County, Ohio. FTAI intends to continue to develop and grow both the KRS and Long Ridge branch line businesses.
“We are excited about this transaction as it brings value to our shareholders, while ensuring that the CMQ continues to provide safe and reliable rail transportation options,” said Joe Adams, FTAI CEO. 
CP invests in its people and its assets to ensure it can provide service safely and efficiently. CP has been the safest railway in North America for 13 consecutive years, as measured by train accident frequency and meets all regulatory requirements.
The transaction is currently expected to close at the end of 2019 and remains subject to customary closing conditions. Over the coming weeks, CP, FTAI and other stakeholders will move towards closing. 
About Canadian Pacific
Canadian Pacific is a transcontinental railway in Canada and the United States with direct links to major ports on the west and east coasts. CP provides North American customers a competitive rail service with access to key markets in every corner of the globe. CP is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of CP. CP-IR
About Fortress Transportation and Infrastructure Investors LLC 
Fortress Transportation and Infrastructure Investors LLC owns and acquires high quality infrastructure and equipment that is essential for the transportation of goods and people globally. FTAI targets assets that, on a combined basis, generate strong and stable cash flows with the potential for earnings growth and asset appreciation. FTAI is externally managed by an affiliate of Fortress Investment Group LLC, a leading, diversified global investment firm.
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<title>Ontario Teachers’-backed GFL acquires AGI</title>
<link>https://www.pehub.com/2019/11/ontario-teachers-backed-gfl-acquires-agi/</link>
<comments>https://www.pehub.com/2019/11/ontario-teachers-backed-gfl-acquires-agi/#respond</comments>
<pubDate>Thu, 21 Nov 2019 16:51:22 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Business Services]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3607199</guid>
<description><![CDATA[Toronto-based GFL Environmental has acquired AGI Group of Companies, which include Ground Force Environmental, Robert Cooke Trucking and WasteAway Recycling Environmental. No financial terms were disclosed. AGI is a provider of environmental remediation and waste management services, primarily within the Kitchener-Waterloo area. GFL is owned by BC Partners and Ontario Teachers' Pension Plan.]]></description>
<content:encoded><![CDATA[Toronto-based GFL Environmental has acquired AGI Group of Companies, which include Ground Force Environmental, Robert Cooke Trucking and WasteAway Recycling Environmental. No financial terms were disclosed. AGI is a provider of environmental remediation and waste management services, primarily within the Kitchener-Waterloo area. GFL is owned by BC Partners and Ontario Teachers’ Pension Plan.
PRESS RELEASE
TORONTO, Nov. 20, 2019 /CNW/ – GFL Environmental Inc. (“GFL”) announced today that it has acquired the AGI group of companies, including Ground Force Environmental, Robert Cooke Trucking and WasteAway Recycling Environmental (collectively, “AGI”). 
AGI is a leading provider of environmental remediation and waste management services, primarily within the Kitchener-Waterloo area.
“The acquisition of AGI expands and complements GFL’s existing liquid waste and soil remediation capabilities in Southwestern Ontario,” said Patrick Dovigi, GFL’s Founder and Chief Executive Officer. “We look forward to welcoming AGI’s management team and employees, led by Dan Forsyth, to the GFL team, and continuing to provide its customers with sustainable environmental solutions.”
About GFL Environmental Inc. 
GFL, headquartered in Vaughan, Ontario, is the fourth largest diversified environmental services company in North America, providing a comprehensive line of non-hazardous solid waste management, infrastructure & soil remediation and liquid waste management services through its platform of facilities across Canada and in 23 states in the United States. Across its organization, GFL has a workforce of more than 10,000 employees and provides its broad range of environmental services to more than 135,000 commercial and industrial customers and its solid waste collection services to more than 4 million households.
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<title>MetLife to acquire VC-backed Willing</title>
<link>https://www.pehub.com/2019/11/metlife-to-acquire-vc-backed-willing/</link>
<comments>https://www.pehub.com/2019/11/metlife-to-acquire-vc-backed-willing/#respond</comments>
<pubDate>Thu, 21 Nov 2019 16:29:37 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[M&A]]></category>
<category><![CDATA[Tech]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3607198</guid>
<description><![CDATA[MetLife Inc has agreed to acquire Miami-based Willing, a New York-based online platform for creating wills and estate-planning documents. No financial terms were disclosed. Willing's backers include Vayner/RSE, Switch VC, Sound Ventures and 500 Startups.]]></description>
<content:encoded><![CDATA[MetLife Inc has agreed to acquire Miami-based Willing, a New York-based online platform for creating wills and estate-planning documents. No financial terms were disclosed. Willing’s backers include Vayner/RSE, Switch VC, Sound Ventures and 500 Startups.
PRESS RELEASE
NEW YORK & MIAMI–(BUSINESS WIRE)–MetLife, Inc. (NYSE: MET) (“MetLife”) and Bequest, INC (d/b/a Willing), a leading digital estate planning service, today announced they have entered into a definitive agreement under which MetLife will acquire Willing. This transaction brings new digital capabilities to MetLife and reinforces the company’s commitment to providing simple and easy-to-use benefits that respond to consumer needs.
Willing makes it easy to create a quality estate plan in as little as 15 minutes from anywhere. Since its inception in 2015, Willing has helped more than half a million families create important legal documents such as wills, trusts, and powers of attorney.
“Willing serves a digitally native audience unlikely to go see an attorney for estate planning services,” said Todd Katz, executive vice president, Group Benefits at MetLife. “Willing complements Hyatt Legal, our existing legal services offering, and positions us to lead the industry by offering customers more choices in how they address their estate planning needs.”
Willing’s services will continue to be offered to consumers online and there are plans in place to make the services available to MetLife’s group customers. The addition of Willing brings new technology capabilities to MetLife.
“Whether you’re on Willing after having a baby, buying a home, or are just planning for the unexpected, our mission has always been about protecting the people you love,” said Eliam Medina, CEO and founder of Willing. “MetLife is a global leader in protection solutions and together we can quickly scale Willing’s technology to make quality estate planning easy and affordable to millions of families.”
The deal is set to close this year and is subject to customary closing conditions and approvals.
About MetLife 
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 markets globally and holds leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.
About Willing 
Willing is an online service that makes it easy and affordable to create a quality estate plan in as little as 15 minutes. Since its inception in 2015 Willing has helped more than half a million families create important legal documents such as wills, trusts, and powers of attorney. The company is based in Miami, FL. For more information on our mission and products, visit www.willing.com.
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<title>Brookfield to sell Nova Cold Logistics to Americold</title>
<link>https://www.pehub.com/2019/11/brookfield-to-sell-nova-cold-logistics-to-americold/</link>
<comments>https://www.pehub.com/2019/11/brookfield-to-sell-nova-cold-logistics-to-americold/#respond</comments>
<pubDate>Thu, 21 Nov 2019 16:04:39 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[M&A]]></category>
<category><![CDATA[Tech]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3607184</guid>
<description><![CDATA[Americold Realty Trust has agreed to acquire Halifax, Nova Scotia-based Nova Cold Logistics, a provider of cold storage facilities, from Brookfield Business Partners. The purchase price is C$337 million. The deal is expected to close in the first quarter of 2020.]]></description>
<content:encoded><![CDATA[Americold Realty Trust has agreed to acquire Halifax, Nova Scotia-based Nova Cold Logistics, a provider of cold storage facilities, from Brookfield Business Partners. The purchase price is C$337 million. The deal is expected to close in the first quarter of 2020.
PRESS RELEASE
ATLANTA–(BUSINESS WIRE)–Americold Realty Trust (NYSE:COLD) (the “Company” or “Americold”), the world’s largest publicly traded REIT focused on the ownership, operation and development of temperature-controlled warehouses, announced today that the Company has entered into a definitive agreement to acquire Nova Cold Logistics (“Nova Cold”), based in Canada, for CAD $337 million from Brookfield Business Partners L.P. (NYSE:BBU) (TSX:BBU.UN), together with its institutional partners (collectively “Brookfield”). The closing of the acquisition is subject to customary closing conditions and is expected to occur in the first quarter of 2020.
Separately, the Company announced today that is has completed the acquisition of two cold storage facilities owned by MHW Group Inc. (“MHW”), one in Maryland and one in Pennsylvania, and exercised an option to purchase the underlying land, for $54 million.
“We are excited to expand our infrastructure and presence in Canada and Mid-Atlantic U.S. with these highly strategic locations and modern facilities that offer compelling growth opportunities. We look forward to welcoming all the new Associates to our team,” stated Fred Boehler, President and Chief Executive Officer of Americold. “These accretive acquisitions enhance the Company’s position as a leading global owner and operator of temperature-controlled infrastructure while expanding relationships with existing high quality customers and providing access to new regional and local customers.”
Mr. Boehler continued, “Both of these acquisitions are immediately accretive on a leverage neutral basis. Additional opportunities to enhance returns over the next two to three years by implementing our best-in-class commercial business practices and the Americold Operating System make them even more attractive.”
Nova Cold Acquisition 
The Nova Cold portfolio consists of three locations totaling 23.5 million cubic feet with approximately 81,000 pallet positions, and additional acreage for future expansions, located in the gateway cities of Toronto, Calgary, and Halifax. This acquisition expands Americold’s position in Canada, a growing market with fragmented ownership of cold storage facilities, where the Company already has a presence through its third-party management business. Americold’s current customer base has significant overlap with Nova Cold’s.
This transaction is expected to be executed at a CAD year one NOI yield of approximately 6.1% and is intended to be funded with a combination of cash on the balance sheet, the Company’s corporate revolver, and proceeds from the Company’s second quarter 2019 equity forward. Additionally, the Company intends to implement cross-currency swaps to reduce exposure to foreign exchange rate fluctuations.
Mid-Atlantic Acquisition 
The MHW portfolio consists of two facilities totaling 19.0 million cubic feet and approximately 86,000 pallet positions located in Chambersburg, PA and Perryville, MD. Both facilities are rail-served sites and strengthen Americold’s presence in the Mid-Atlantic region. This transaction is being executed at a year one NOI yield of approximately 7.8% and is being funded with cash on the balance sheet.
About Americold Realty Trust 
Americold is the world’s largest publicly traded REIT focused on the ownership, operation and development of temperature controlled warehouses. Based in Atlanta, Georgia, Americold owns and operates 176 temperature-controlled warehouses, with over 1 billion refrigerated cubic feet of storage, in the United States, Australia, New Zealand, Canada, and Argentina, as of September 30th, 2019. Americold’s facilities are an integral component of the supply chain connecting food producers, processors, distributors and retailers to consumers.
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<title>Schwab is in talks to buy TD Ameritrade: CNBC</title>
<link>https://www.pehub.com/2019/11/schwab-is-in-talks-to-buy-td-ameritrade-cnbc/</link>
<comments>https://www.pehub.com/2019/11/schwab-is-in-talks-to-buy-td-ameritrade-cnbc/#respond</comments>
<pubDate>Thu, 21 Nov 2019 12:20:00 +0000</pubDate>
<dc:creator><![CDATA[Luisa Beltran]]></dc:creator>
<category><![CDATA[Financial Services]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3607135</guid>
<description><![CDATA[Charles Schwab is in talks to buy smaller rival TD Ameritrade, <a href="https://www.cnbc.com/2019/11/21/charles-schwab-in-talks-to-buy-td-ameritrade-a-deal-could-be-announced-as-early-as-today-source-says.html">CNBC reported</a>. The $26 billion deal could be announced Thursday, the New York Times said. Schwab and TD Ameritrade are the two biggest publicly traded discount brokers, the story said.]]></description>
<content:encoded><![CDATA[Charles Schwab is in talks to buy smaller rival TD Ameritrade, <a href="https://www.cnbc.com/2019/11/21/charles-schwab-in-talks-to-buy-td-ameritrade-a-deal-could-be-announced-as-early-as-today-source-says.html">CNBC reported</a>. The $26 billion deal could be announced Thursday, the New York Times said. Schwab and TD Ameritrade are the two biggest publicly traded discount brokers, the story said.
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<title>PayPal to buy Honey for $4 bln</title>
<link>https://www.pehub.com/2019/11/paypal-to-buy-honey-for-4-bln/</link>
<comments>https://www.pehub.com/2019/11/paypal-to-buy-honey-for-4-bln/#respond</comments>
<pubDate>Thu, 21 Nov 2019 11:55:39 +0000</pubDate>
<dc:creator><![CDATA[Luisa Beltran]]></dc:creator>
<category><![CDATA[Financial Services]]></category>
<category><![CDATA[M&A]]></category>
<category><![CDATA[Middle-market funds]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3607129</guid>
<description><![CDATA[PayPal Holdings Inc said Nov. 20 that it agreed to buy Honey Science Corp for about $4 billion. Honey, of Los Angeles, is a technology platform for shopping and rewards. Honey has raised $37.67 million in venture funding, PitchBook said.]]></description>
<content:encoded><![CDATA[PayPal Holdings Inc said Nov. 20 that it agreed to buy Honey Science Corp for about $4 billion. Honey, of Los Angeles, is a technology platform for shopping and rewards. Honey has raised $37.67 million in venture funding, PitchBook said.
PRESS RELEASE
PayPal to Acquire Honey 
Advances PayPal’s leadership in digital commerce 
Enhances PayPal’s value proposition with an extensive set of consumer commerce capabilities 
Drives increased sales and conversion for PayPal’s merchants 
SAN JOSE, Calif., Nov. 20, 2019 /PRNewswire/ — PayPal Holdings, Inc. (NASDAQ: PYPL) today announced that it has agreed to acquire Honey Science Corporation, a rapidly-growing technology platform for shopping and rewards, for approximately $4 billion. Honey, in combination with PayPal’s two-sided network, will transform the shopping experience for PayPal’s consumers while increasing sales and customer engagement for its merchants. 
Founded in 2012, Honey is best known as a popular discovery tool that helps consumers find savings as they shop online. Honey has continued to grow and evolve, expanding its suite of products and services to include a mobile shopping assistant, offers and rewards program, and price-tracking tools and alerts. With approximately 17 million monthly active users, Honey has helped millions of people find more than $1 billion in savings in the past year. Honey currently works across approximately 30,000 online retailers ranging from fashion and technology, to travel and pizza delivery.
The acquisition supports PayPal and Honey’s shared mission to simplify and personalize shopping experiences for consumers while driving conversion and increasing consumer engagement and sales for merchants. The combination will help accelerate growth across both companies. Honey will accelerate its growth by driving adoption among PayPal and Venmo’s more than 275 million active consumer accounts and sourcing exclusive offers from PayPal’s extensive network of 24 million merchant accounts. Honey will enable PayPal to reach consumers at the beginning of their shopping journeys and will enhance PayPal’s ability to help merchants acquire and convert consumers by delivering offers that are personalized, timely, and optimized across channels.
“Honey is amongst the most transformative acquisitions in PayPal’s history. It provides a broad portfolio of services to simplify the consumer shopping experience, while at the same time making it more affordable and rewarding,” said Dan Schulman, president and CEO of PayPal. “The combination of Honey’s complementary consumer products with our platform will significantly enhance our ability to drive engagement and play a more meaningful role in the daily lives of our consumers. As a partner of choice for our merchants, this is another way that we can help them build and strengthen their customer relationships, provide personalized offers, and drive incremental sales. The combination of Honey and PayPal adds another significant and meaningful dimension to our two-sided platform.”
Following the acquisition, Honey will retain its headquarters and brand in Los Angeles, California. Honey co-founders George Ruan and Ryan Hudson will continue to lead the Honey team as part of PayPal’s global consumer product and technology organization, reporting to Senior Vice President John Kunze. 
“Honey’s vision has always been to give consumers the tools they need to make the best decisions with their money,” said Ruan. “PayPal shares that vision and together we can build powerful commerce capabilities that create real value for both consumers and retailers around the world.” 
“Combining PayPal’s assets and reach with our technology, we can build powerful new online shopping experiences for consumers and merchants,” said Hudson. “We’ll have the ability to help millions of retailers efficiently reach consumers with offers that deliver more and more value to Honey members.” 
Honey was profitable on a net income basis in 2018. Subject to customary closing conditions, including the receipt of regulatory approvals, the transaction is expected to close in the first quarter of 2020. The acquisition is expected to be accretive to PayPal’s non-GAAP earnings per share in 2021. 
Perella Weinberg Partners LP is acting as sole financial adviser to PayPal, and Skadden, Arps, Slate, Meagher & Flom LLP is acting as its legal adviser with regard to the transaction. Qatalyst Partners is acting as sole financial adviser to Honey, while Latham & Watkins, LLP is acting as its legal adviser. 
Webcast and Conference Call Information 
PayPal will host a conference call to discuss the transaction at 2:00 p.m. Pacific Standard Time (PST) today. A live webcast of the conference call, together with a slide presentation, can be accessed through the company’s investor relations website at https://investor.paypal-corp.com. In addition, an archive of the webcast will be accessible for 90 days through the same link. 
About PayPal 
PayPal has remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering 300 million consumers and merchants in more than 200 markets to join and thrive in the global economy. For more information, visit paypal.com. 
About Honey 
Honey Science Corporation is an L.A.-based tech company building tools to help people save time and money when shopping online. What started as a browser extension has grown into a suite of free tools that help everyone shop with confidence. From notifying you when a price drops, to showing you the lowest prices available, Honey provides you with the information that you need to make the best decisions with your money. With approximately 17 million monthly active users, Honey has helped millions of people find more than $1 billion in savings in the past year. Visit www.joinhoney.com to shop smarter.
Forward-Looking Statements 
This announcement contains “forward-looking” statements within the meaning of applicable securities laws. Forward-looking statements and information relate to future events and future performance and reflect PayPal’s expectations regarding the impact of this transaction on PayPal’s and Honey’s financial and operating results and business, the operation and management of Honey after the acquisition, and the timing of the closing of the acquisition. Forward-looking statements may be identified by words such as “seek”, “believe”, “plan”, “estimate”, “anticipate”, expect”, “project, “forecast”, or “intend”, and statements that an event or result “may”, “will”, “should”, “could”, or “might” occur or be achieved and any other similar expressions.
Forward-looking statements involve risks and uncertainties which may cause actual results to differ materially from the statements made, and, accordingly, readers should not place undue reliance on forward-looking statements and information. Factors that could cause or contribute to such differences include, but are not limited to, the timing and possible outcome of security holder and regulatory approvals in connection with the transaction, the possibility that the transaction may not close, the reaction to the transaction of Honey’s customers and business partners, the reaction of competitors to the transaction, the retention of Honey’s employees, PayPal’s plans for Honey, economic and political conditions in the global markets in which PayPal and Honey operate, the future growth of PayPal’s and Honey’s businesses and the possibility that integration following the transaction may be more difficult than expected.
More information about these and other factors that could adversely affect PayPal’s results of operations, financial condition and prospects or that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in PayPal Holdings, Inc.’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the Securities and Exchange Commission (the “SEC”), and its future filings with the SEC.
The forward-looking statements contained in this announcement speak only as of the date hereof. PayPal expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. 
Contacts
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<title>TPG’s SPAC closes merger with Accel Entertainment</title>
<link>https://www.pehub.com/2019/11/tpgs-spac-closes-merger-with-accel-entertainment/</link>
<comments>https://www.pehub.com/2019/11/tpgs-spac-closes-merger-with-accel-entertainment/#respond</comments>
<pubDate>Wed, 20 Nov 2019 21:52:24 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[M&A]]></category>
<category><![CDATA[Tech]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3607086</guid>
<description><![CDATA[TPG Pace Holdings Corp, TPG's blank check company, has closed its merger with Bolingbrook, Illinois-based Accel Entertainment Inc, a gaming-as-a-service provider. No financial terms were disclosed. In connection with the completion of the deal, the company has been renamed Accel Entertainment and will start trading November 21, 2019 on the New York Stock Exchange under the ticker symbol "ACEL." This past summer, Canadian private equity firm Clairvest Group <a href="https://www.pehub.com/canada/2019/07/clairvest-files-lawsuit-to-block-merger-of-accel-with-tpg-spac/">filed a lawsuit</a> to block the merger of portfolio company Accel Entertainment with TPG Pace.]]></description>
<content:encoded><![CDATA[TPG Pace Holdings Corp, TPG‘s blank check company, has closed its merger with Bolingbrook, Illinois-based Accel Entertainment Inc, a gaming-as-a-service provider. No financial terms were disclosed. In connection with the completion of the deal, the company has been renamed Accel Entertainment and will start trading November 21, 2019 on the New York Stock Exchange under the ticker symbol “ACEL.” This past summer, Canadian private equity firm Clairvest Group <a href="https://www.pehub.com/canada/2019/07/clairvest-files-lawsuit-to-block-merger-of-accel-with-tpg-spac/">filed a lawsuit</a> to block the merger of portfolio company Accel Entertainment with TPG Pace.
PRESS RELEASE
CHICAGO & FORT WORTH, Texas–(BUSINESS WIRE)–TPG Pace Holdings Corp. (“TPG Pace”), a special-purpose acquisition company sponsored by an affiliate of TPG, announced today the completion of its previously announced business combination with Accel Entertainment, Inc. (“Accel” or the “Company”), a leading gaming-as-a-service provider. In connection with the closing, the Company has been renamed Accel Entertainment and will begin trading on the New York Stock Exchange under the ticker symbol “ACEL”, effective November 21.
On June 13, 2019, TPG Pace and Accel Entertainment entered into a definitive business combination agreement. The transaction was approved by more than 98% shareholders of TPG Pace on November 15, 2019. Its Board of Directors had previously approved the business combination and recommended that its shareholders vote in favor of the proposal. With the closing of this transaction, Accel becomes a leading pure-play listed company focusing on gaming-as-a-service.
Karl Peterson, Chairman of Accel Entertainment, commented, “We sought to sponsor the listing of an exciting growth company and with today’s closing we have done exactly that. We look forward to working closely with Andy and the Accel team to execute the next phase of our business strategy as a leading pure-play publicly listed gaming-as-a-service provider.”
Andy Rubenstein, co-founder and President and CEO of Accel Entertainment, stated, “This transaction is an important milestone for Accel and our mission of being the partner of choice for local businesses who want to offer gaming to their customers. It’s an exciting time for Accel Entertainment and I look forward to working with Karl and his team as we pursue the next chapter of our story.”
As previously announced, Accel’s management team, led by Co-Founder and CEO Andy Rubenstein, will continue to lead the Company. With the closing of the transaction, all previously announced Accel Board members have been approved and their positions have taken effect. The Accel Board is comprised of: Karl Peterson, Chairman of the Board; Andy Rubenstein, Accel Co-Founder and CEO; Gordon Rubenstein, Accel Co-Founder; Ken Rotman, Chief Executive Officer and Managing Director at Clairvest Group Inc.; David “Buzz” Ruttenberg, Founder and Chairman Emeritus, Belgravia Group; Eden Godsoe, VP of operations at Zeus Living; and Kathleen Philips, former CFO and Chief Legal Officer of Zillow Group.
About Accel 
Accel is the largest terminal operator of slot machines and amusement equipment in the Illinois video gaming market. Starting in October 2012, Accel has been dedicated to providing top of the line care and service to more than 2,200 locations and their customers across the state. For more information, visit http://www.ir.accelentertainment.com
About TPG 
TPG is a leading global alternative asset firm founded in 1992 with more than $108 billion of assets under management and offices in Austin, Beijing, Boston, Dallas, Fort Worth, Hong Kong, Houston, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul, and Singapore. TPG’s investment platforms are across a wide range of asset classes, including private equity, growth equity, real estate, credit, and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of its portfolio. For more information, visit www.tpg.com.
About TPG Pace Group and TPG Pace Holdings 
TPG Pace Group is TPG’s dedicated permanent capital platform. TPG Pace Group has a long-term, patient, and highly flexible investor base, allowing it to seek compelling opportunities that will thrive in the public markets. TPG Pace Group has sponsored three special purpose acquisition companies (“SPACs”) and raised more than $2 billion since 2015. The first of these vehicles, Pace Holdings Corp., was used to sponsor the public listing of Playa Hotels and Resorts in March 2017 (NASDAQ: PLYA). The second, TPG Pace Energy Holdings Corp., was used to sponsor the public listing of Magnolia Oil & Gas Corporation in July 2018 (NYSE: MGY). For more information, visit www.tpg.com/tpg-pace-holdings.
Additional Information and Where to Find It 
TPG Pace has filed with the SEC a registration statement (the “Registration Statement”), which was declared effective on October 29, 2019 and which includes a proxy statement/prospectus with respect to TPG Pace’s securities to be issued in connection with the proposed business combination contemplated by the amended Transaction Agreement (the “Business Combination”). The Registration Statement and the accompanying definitive proxy statement/prospectus contains important information about the proposed Business Combination and related matters. COMPANY SHAREHOLDERS ARE URGED AND ADVISED TO CAREFULLY READ THE DEFINITIVE PROXY STATEMENT/PROSPECTUS. The Registration Statement, the definitive proxy statement/prospectus, other relevant materials and any other documents filed by the Company with the SEC may be obtained free of charge at the SEC’s website, at www.sec.gov. In addition, shareholders will be able to obtain free copies of the Registration Statement by directing a request to: TPG Pace Holdings Corp., 301 Commerce Street, Suite 3300, Fort Worth, Texas 76102, email: pace@tpg.com.
Participants in the Solicitation 
TPG Pace, Accel and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the TPG Pace’s shareholders in connection with the proposed Business Combination. Information about TPG Pace’s directors and executive officers is set forth in TPG Pace’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018, which was filed with the SEC on February 13, 2019. These documents are available free of charge at the SEC’s web site at www.sec.gov, or by directing a request to: TPG Pace Holdings Corp., 301 Commerce Street, Suite 3300, Fort Worth, Texas 76102, email: pace@tpg.com. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to Company shareholders in connection with the proposed Business Combination are set forth in the Registration Statement for the proposed Business Combination. Additional information regarding the interests of participants in the solicitation of proxies in connection with the proposed Business Combination is included in the Registration Statement that TPG Pace has filed with the SEC.
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<title>Fan engagement platform Trufan buys SocialRank, also secures venture debt</title>
<link>https://www.pehub.com/2019/11/fan-engagement-platform-trufan-buys-socialrank-also-secures-venture-debt/</link>
<comments>https://www.pehub.com/2019/11/fan-engagement-platform-trufan-buys-socialrank-also-secures-venture-debt/#respond</comments>
<pubDate>Wed, 20 Nov 2019 16:12:10 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[M&A]]></category>
<category><![CDATA[Tech]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3607006</guid>
<description><![CDATA[Toronto-based Trufan, a fan engagement platform, has acquired SocialRank, a audience segmentation platform. Also, Trufan has raised US$400,000 in venture debt from previous backer Round13 Capital, a Toronto-based venture firm.]]></description>
<content:encoded><![CDATA[Toronto-based Trufan, a fan engagement platform, has acquired SocialRank, a audience segmentation platform. Also, Trufan has raised US$400,000 in venture debt from previous backer Round13 Capital, a Toronto-based venture firm.
PRESS RELEASE
TORONTO, Nov. 19, 2019 /CNW/ – Trufan, a social intelligence platform that focuses on helping brands activate their grassroots communities, today announced its acquisition of SocialRank, the most valuable audience segmentation platform in the world. The acquisition advances Trufan’s position as the most comprehensive social intelligence platform on the market.
As a Toronto based startup that will celebrate two years on December 7, Trufan has been making waves in the Canadian startup community. The company of 13 led by Swish Goswami and Aanikh Kler, has raised over $1.8M CAD from several NBA players, media executives and Canadian venture firms and worked with numerous clients including Western Union, K-Swiss, Supreme Cannabis, and Kay Jewellers.
“We are passionate about creating the best experiences for brand advocates around the world and helping brands convert consumers from people who just buy to advocates who buy in,” said Trufan’s CEO Swish Goswami.
The founders of SocialRank share a similar passion. Founded by Alex Taub and Michael Schonfeld in 2014, SocialRank has raised $2.1M USD and currently boasts clients such as Samsung US, Netflix, NBA, NFL, Live Nation and L’Oréal. The New York based company of five has developed several product lines including SocialRank for Teams, Market Intelligence, and SocialRank for Content.
Praising SocialRank’s product, Trufan’s COO Aanikh Kler said, “SocialRank has created a unique product that allows its customers to harness the power of big data in an intuitive and seamless way. The collaboration between SocialRank and Trufan will be one of the strongest combined offerings in the entire social ecosystem.”
Whereas Trufan focuses on fan engagement and has a narrow lens on a customer’s audience, SocialRank is the best-in-class product for audience segmentation and has a priority on filtering/comparing audiences. It’s Google for audience analytics. However, the two platforms supplement one another and have common use cases (i.e. surprise and delight fans, product sampling, location-based activations and finding the right influencers). The acquisition will enable brands to choose from a multitude of social analysis options provided by Trufan (and SocialRank) based on their needs.
Trufan will continue to operate and offer SocialRank as a standalone product. As part of the agreement, a full asset transfer of SocialRank’s technology, customer list, brand and website will take place, while Alex and Michael will come on as strategic advisors to Trufan as they pursue their next venture, Upstream.
“We’re very excited about SocialRank becoming part of Trufan. At SocialRank we built a special product and business that had a handful of suitors. We ultimately chose to go with Trufan because of the caliber of their team and the future they are building towards. No one understands social intelligence, fan engagement, and influencer marketing better than Swish and Aanikh. The SocialRank product will only get better in their hands,” said SocialRank’s CEO Alex Taub.
Along with this acquisition, Trufan also raised an additional $400,000 USD in venture debt from Round13 Capital, a Toronto based VC that participated Trufan’s earlier round last February.
Trufan is excited to end the year strong, integrating their platform with social media management platform Hootsuite and getting ready to co-produce an original content series around fandom with Best Crosses Studios. This acquisition will position the company as a cash-flow positive business from December onwards and carry their significant growth into the new year.
About Trufan: 
Trufan is a leading social intelligence platform helping brands activate grassroots communities made up of super fans and micro influencers. Our intuitive social data fosters a deeper understanding of a brand’s community and social landscape, allowing users to build loyalty with top fans, find affordable/aligned influencers, and sell more. For more information about Trufan visit www.trufan.io.
About SocialRank: 
SocialRank is an audience segmentation tool that helps brands understand, organize and activate audiences on social media. Founded in 2014 and previously headquartered in NYC, SocialRank boasts clients such as the NBA, the NFL, Samsung US, PUMA, United Talent Agency, and much more. For more information about SocialRank visit www.socialrank.com.
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<title>VSS-backed Coretelligent buys SoundView IT Solutions</title>
<link>https://www.pehub.com/2019/11/vss-backed-coretelligent-buys-soundview-it-solutions/</link>
<comments>https://www.pehub.com/2019/11/vss-backed-coretelligent-buys-soundview-it-solutions/#respond</comments>
<pubDate>Wed, 20 Nov 2019 15:33:10 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[M&A]]></category>
<category><![CDATA[Tech]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3606969</guid>
<description><![CDATA[Coretelligent, a portfolio company of VSS, has acquired SoundView IT Solutions LLC, a managed services IT firm. No financial terms were disclosed. Morgan Partners served as financial adviser on this transaction.]]></description>
<content:encoded><![CDATA[Coretelligent, a portfolio company of VSS, has acquired SoundView IT Solutions LLC, a managed services IT firm. No financial terms were disclosed. Morgan Partners served as financial adviser on this transaction.
PRESS RELEASE
WESTWOOD, Mass.–(BUSINESS WIRE)–Coretelligent, a leading provider of comprehensive managed IT and private cloud services and a portfolio company of VSS, a private investment firm, today jointly announced the acquisition of managed services IT firm SoundView IT Solutions, LLC. Morgan Partners was the exclusive financial advisor on this transaction, and the financial terms of the private transfer were not disclosed.
As a full-service IT integration company, SoundView IT Solutions provides clients a range of offerings from working with them as a valued partner to complementing a firm’s internal IT team. SoundView was formed after the closure of Pequot Capital Management in 2009, and has deep experience within hedge funds, family offices, and corporations throughout metropolitan NY and the tri-state area. SoundView IT Solutions designs and builds cutting-edge, redundant, cost-efficient Technology Infrastructures.
“We are thrilled to have SoundView join the Coretelligent family. Both SoundView and Coretelligent bring deep expertise and a commitment to delivering a white glove IT experience through outstanding service. Together, our unrivaled suite of support, cloud and security solutions provide a robust platform to help companies navigate all areas of technology and compliance,” said Coretelligent Founder, President, and CEO, Kevin J. Routhier. The SoundView team and their prestigious clientele further strengthen Coretelligent’s market leadership in the Financial Services sector.
“SoundView’s managed services offering, primarily within the Financial Services sector, fits seamlessly into Coretelligent’s portfolio,” said Trent Hickman, Managing Director, VSS. “This acquisition exemplifies VSS’s proficiency in identifying and executing upon significant growth opportunities through partnering with exceptional management teams. We’re thrilled to see Coretelligent expand their market base.”
The acquisition brings together the two organizations under the name Coretelligent, resulting in an expanded base of over 150 full-time employees. SoundView’s Managing Partners Bill McGee, Gary Logvin and Kelly Moore will all be joining Coretelligent’s Executive Team in the upcoming weeks. 
Bill McGee, Managing Partner, SoundView, stated, “ Our acquisition through Coretelligent ensures each of our clients better positioning for future success through enhanced platforms and technology offerings.” Kelly Moore, Managing Partner, SoundView, added, “With business goals and focuses closely aligned with our own, we’re confident that joining Coretelligent will be a smooth and rewarding process for all of our clients.”
“As SoundView has grown we’ve always focused efforts on putting our clients’ needs first. This acquisition will give our client base a more solid foundation to trust upon while building their businesses,” said Gary Logvin, Managing Partner, SoundView.
VSS has substantial experience investing in lower middle-market companies, including information technology businesses where its flexible capital approach to investing can be used to support growth through strategic acquisitions and other transactions. The firm invested in Coretelligent in October 2016. This acquisition marks Coretelligent’s second acquisition of 2019, having previously acquired United Technology Group. LLC., out of Atlanta in April.
About Coretelligent 
Coretelligent is a leading provider of comprehensive managed IT, Security, and cloud services, enabling organizations to seamlessly power and successfully grow their businesses. Founded in 2006 and led by world-class experts, Coretelligent’s key White Glove services – Managed IT, Security and Compliance, Cloud Management and Backup and Disaster Recovery – are relied on by top-tier organizations in the financial services, life sciences, legal, and technology industries among others. The organization is recognized as leaders by the Boston Business Journal, CRN, Inc., MSPmentor, and the U.S. Chamber of Commerce. Coretelligent’s headquarters are located in Westwood, Mass., with strategic offices located nationally in New York City, Philadelphia, Atlanta and the San Francisco Bay area. For more information, please visit www.coretelligent.com or follow us on Twitter, Facebook & LinkedIn.
About VSS 
VSS is a private investment firm that invests in the information, education, healthcare, and tech-enabled business services industries. VSS provides capital for growth financings, recapitalizations, strategic acquisitions, and buyouts to lower middle-market companies and management teams with the goal of building companies organically as well as through a focused add-on acquisition program. VSS makes privately-negotiated investments across the capital structure and invests in situations requiring control or non-control equity, mezzanine securities, and structured equity securities. For more information, please visit www.vss.com.
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<title>Standish Management to buy Halsey Group</title>
<link>https://www.pehub.com/2019/11/standish-management-to-buy-halsey-group/</link>
<comments>https://www.pehub.com/2019/11/standish-management-to-buy-halsey-group/#respond</comments>
<pubDate>Wed, 20 Nov 2019 15:29:09 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Financial Services]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3606961</guid>
<description><![CDATA[Standish Management has agreed to acquire Halsey Group, a Luxembourg-based fund and corporate services provider dedicated to international private equity and real estate investment firms. No financial terms were disclosed.]]></description>
<content:encoded><![CDATA[Standish Management has agreed to acquire Halsey Group, a Luxembourg-based fund and corporate services provider dedicated to international private equity and real estate investment firms. No financial terms were disclosed.
PRESS RELEASE
SAN FRANCISCO & LUXEMBOURG–(BUSINESS WIRE)–Standish Management, one of the leading independent providers of fund administration services to Private Equity, Venture Capital, and Real Estate managers today announced the firm has entered into an agreement to acquire Halsey Group S.à r.l. Halsey Group is a Luxembourg-based fund and corporate services provider dedicated to international private equity and real estate investment firms.
Terms were not announced.
The acquisition extends Standish’s service offering and brings together Halsey’s long-tenured team and large client base across the U.S. and UK, with Standish’s reputation and expertise across PE, VC, and Real Estate funds. The transaction is subject to regulatory approval and upon closing Halsey Group will change its name to Standish Management Luxembourg.
Owen Kiely, Head of Europe at Standish Management said, “We are delighted to welcome the Halsey Group team to Standish as the first step in our long-term strategy of expanding our global servicing capabilities. With interest growing for European-domiciled fund vehicles, on top of the EU Alternative Investment Fund Managers Directive, Luxembourg has emerged as the leading European domicile for alternative asset funds. By joining forces with Halsey, we believe we significantly strengthen our ability to serve the evolving administration needs of our existing and future clients in Europe.”
Christophe Gammal, Managing Director of Halsey Group, added, “Our team is delighted to join forces with Standish. Both firms share the same client-centric culture and we believe that Standish’s stellar reputation of delivering best-in-class services in the U.S. fund administration market gives us the ideal platform to further accelerate our success in building a leading European fund administration practice. The entire Halsey team is excited to further develop their careers with Standish.”
About Standish Management 
Standish Management is an employee-owned provider of specialized fund administration services for Managers and General Partners of Private Equity Funds, generally: Buyout, Venture Capital, Real Estate and Fund-of-Funds. Founded in 2007, Standish has grown steadily and currently has over $100 billion in committed capital under administration, administering over 1,200 entities and reporting to more than 25,000 LPs. Standish is based in San Francisco with major offices in Los Angeles, Palo Alto, Boston, Seattle, Dallas, Denver, Chicago, and New York. For more information, visit www.standishmanagement.com.
About Halsey Group 
Established in Luxembourg for more than 20 years and regulated by the CSSF as a Specialized PFS firm, Halsey Group is an independent provider of specialized fund administration and corporate services to alternative investment managers around the world.
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<title>Broadridge Financial buys ClearStructure Financial Technology</title>
<link>https://www.pehub.com/2019/11/broadridge-financial-buys-clearstructure-financial-technology/</link>
<comments>https://www.pehub.com/2019/11/broadridge-financial-buys-clearstructure-financial-technology/#respond</comments>
<pubDate>Wed, 20 Nov 2019 12:10:37 +0000</pubDate>
<dc:creator><![CDATA[Luisa Beltran]]></dc:creator>
<category><![CDATA[Financial Services]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3606937</guid>
<description><![CDATA[Broadridge Financial Solutions Inc said Nov. 20 that it acquired ClearStructure Financial Technology. Financial terms weren’t announced. ClearStructure Financial Technology provides portfolio management solutions for the private debt markets.]]></description>
<content:encoded><![CDATA[Broadridge Financial Solutions Inc said Nov. 20 that it acquired ClearStructure Financial Technology. Financial terms weren’t announced. ClearStructure Financial Technology provides portfolio management solutions for the private debt markets.
PRESS RELEASE
NEW YORK, Nov. 20, 2019 /PRNewswire/ — Broadridge Financial Solutions, Inc. (NYSE: BR), a global Fintech leader and part of the S&P 500® Index, has acquired ClearStructure Financial Technology, a global provider of portfolio management solutions for the private debt markets. 
Today, Broadridge’s SaaS technology powers more than 550 hedge funds, traditional asset managers and fund administrators with a complete front-to-back, multi-asset class solution that simplifies and improves firm trading and operations. As private markets continue to grow and present opportunities for asset managers to find alpha and differentiate themselves, the addition of ClearStructure’s private debt capabilities will create a differentiated solution in the market and enable Broadridge to serve new clients.
“ClearStructure’s component services enhance our existing multi-asset class, front-to-back office solution, providing our clients with a unique capability to access the public and private markets,” said Eric Bernstein, Broadridge’s head of asset management solutions. “This acquisition aligns to Broadridge’s strategy of providing a true cross-asset platform to enable asset management clients to have a single view into their entire book of business.” 
“We’re delighted to join Broadridge and to offer expanded portfolio management technology to create optimum investment workflow efficiency for portfolio managers, investment analysts, risk professionals, and operations teams,” said ClearStructure CEO Scott Turley. 
Jefferies LLC acted as the exclusive financial advisor to Broadridge. Marlin & Associates acted as the exclusive strategic and financial advisor to ClearStructure Financial Technology. Terms of the transaction were not disclosed. 
About Broadridge 
Broadridge Financial Solutions, Inc. (NYSE: BR), a $4 billion global Fintech leader, is a leading provider of investor communications and technology-driven solutions to banks, broker-dealers, asset and wealth managers and corporate issuers. Broadridge’s infrastructure underpins proxy voting services for over 50 percent of public companies and mutual funds globally, and processes on average more than U.S.$7 trillion in fixed income and equity securities trades per day. Broadridge is part of the S&P 500® Index and employs over 11,000 full-time associates in 18 countries. For more information about Broadridge, please visit www.broadridge.com.
About ClearStructure 
ClearStructure Financial Technology delivers technology solutions capable of meeting the diverse needs of the investment industry. The Sentry solution offers managers broad front-to-back-office functionality on a single platform across many asset types. ClearStructure’s Sentry product suite is used by many of the largest and most respected financial institutions and investment firms in the world. 
Contacts:
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<title>New Mountain-backed TRC buys LM-DES</title>
<link>https://www.pehub.com/2019/11/new-mountain-backed-trc-buys-lm-des/</link>
<comments>https://www.pehub.com/2019/11/new-mountain-backed-trc-buys-lm-des/#respond</comments>
<pubDate>Tue, 19 Nov 2019 15:52:19 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Energy/Power]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3606794</guid>
<description><![CDATA[TRC Companies, which is backed by New Mountain Capital, has acquired Rockville, Maryland-based Lockheed Martin Distributed Energy Solutions, a provider of distributed energy solutions. No financial terms were disclosed. Macquarie Capital was financial adviser to TRC on the transaction.]]></description>
<content:encoded><![CDATA[TRC Companies, which is backed by New Mountain Capital, has acquired Rockville, Maryland-based Lockheed Martin Distributed Energy Solutions, a provider of distributed energy solutions. No financial terms were disclosed. Macquarie Capital was financial adviser to TRC on the transaction.
PRESS RELEASE
LOWELL, MASS. (PRWEB) NOVEMBER 19, 2019 
TRC Companies (“TRC”), a leading technology-enabled provider of end-to-end engineering, consulting and construction management solutions, has expanded its utility services capabilities with the close of the acquisition of Lockheed Martin Distributed Energy Solutions (“LM-DES”). TRC is supported by New Mountain Capital.
“LM-DES is a premier provider of distributed energy solutions, with a robust history of serving commercial and industrial clients along with many of the nation’s top utilities,” said TRC CEO Chris Vincze. “This acquisition positions us to capitalize on a fast-evolving energy market and continue to meet the growing needs of our clients. The move reinforces our strategic growth strategy and advances our ability to deliver innovative, fully integrated solutions for any Advanced Energy project.”
LM-DES is based in Rockville, Maryland, and currently serves many of the nation’s top electric and gas utilities. LM-DES prides itself on developing energy efficiency, IT outsourcing, beneficial electrification and demand response/DERMS solutions.
“TRC is a great strategic fit for LM-DES. TRC’s strong reputation in the utility industry and focus on supporting customers with integrated engineering and design solutions, including value-add technologies, fits well with LM-DES’s focus and capabilities,” said Roger Flanagan, who joins TRC from LM-DES as Senior Vice President, Advanced Energy.
With the acquisition of LM-DES, TRC adds just over 400 employees and increases its presence in California, Colorado, Maryland, Missouri, Oregon, New York, and several states in New England. The addition positions TRC as one of the leading players in the Advanced Energy market.
“LM-DES’s capabilities and technologies are a great strategic fit for TRC, enabling us to serve our power clients more broadly. This acquisition strengthens our already robust Advanced Energy offerings and further cements our team as a leading, full-service engineering and consulting partner,” said Jim Mayer, TRC’s President, Power Sector. “With a wide regional presence and outstanding relationships in the power market, the LM-DES acquisition is another positive development for our clients.”
Macquarie Capital acted as an exclusive financial advisor to TRC. 
TRC was supported by its banking partners: UBS Securities LLC, Barclays, Citizens Bank N.A., and Macquarie Capital in this transaction.
About TRC 
A pioneer in groundbreaking scientific and engineering developments since the 1960s, TRC is a leading consulting, engineering and construction management firm that provides technology-enabled solutions to the power, infrastructure, environmental and energy markets. We serve a broad range of public and private clients, steering complex projects from concept to completion to help solve the toughest challenges. TRC is ranked #20 on ENR’s list of the Top 500 Design Firms in the United States.
Learn more at TRCcompanies.com and follow us on Twitter, LinkedIn and Facebook.
About New Mountain Capital 
New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, public equity, and credit funds with over $20 billion in assets under management. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit http://www.newmountaincapital.com.
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<title>PE-backed Calero Software and MDSL to merge</title>
<link>https://www.pehub.com/2019/11/pe-backed-calero-software-and-mdsl-to-merge/</link>
<comments>https://www.pehub.com/2019/11/pe-backed-calero-software-and-mdsl-to-merge/#respond</comments>
<pubDate>Tue, 19 Nov 2019 15:50:06 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[M&A]]></category>
<category><![CDATA[Tech]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3606793</guid>
<description><![CDATA[Calero Software, which is backed by Riverside Partners, and MDSL, which is backed by Sumeru Equity Partners, are planning to merge. No financial terms were disclosed. Oak Hill Capital and Riverside will be the lead investors in the transaction. SEP will continue as a "significant" investor in the combined business. Calero and MDSL are software providers in the recurring technology expense management space. The deal is expected to close in either the late fourth quarter of this year or in the early quarter of 2020.]]></description>
<content:encoded><![CDATA[Calero Software, which is backed by Riverside Partners, and MDSL, which is backed by Sumeru Equity Partners, are planning to merge. No financial terms were disclosed. Oak Hill Capital and Riverside will be the lead investors in the transaction. SEP will continue as a “significant” investor in the combined business. Calero and MDSL are software providers in the recurring technology expense management space. The deal is expected to close in either the late fourth quarter of this year or in the early quarter of 2020.
PRESS RELEASE
PHOENIX AND ROCHESTER, N.Y. (PRWEB) NOVEMBER 19, 2019 
Calero Software and MDSL, two high growth software providers in the recurring Technology Expense Management space, today announced plans to merge. Oak Hill Capital will make a significant new investment—joining Riverside Partners, Calero’s existing financial sponsor—as the lead investors in a growth re-capitalization of Calero and subsequent funding of the combination with MDSL. Sumeru Equity Partners (“SEP”), MDSL’s financial backer, will also continue as a significant investor in the combined business.
The closing of the merger is expected in late Q4 or early Q1 and remains subject to customary regulatory and other approvals. Financial terms of the transactions were not disclosed.
Calero and MDSL provide Enterprise Technology Expense Management (TEM), Market Data Management (MDM) and Managed Mobility Services (MMS) software and services to help enterprises manage their mission-critical and highly complex recurring expenses across fixed-line and mobile telecommunications, market data subscriptions, Internet of Things, SaaS and Cloud Infrastructure operations. Together, after closing, Calero and MDSL will provide best-in-class solutions for their customers, as well as outstanding growth opportunities for their highly talented employees. Once combined, the companies will have additional resources to accelerate significant investments in product development and customer service innovation, including in exciting growth areas such as IoT, SaaS and Cloud.
Charles Layne, CEO of MDSL, will lead the merged company as CEO. Scott Gilbert, currently COO of Calero Software, will serve as President of the merged company. The combined business will have over 800 highly talented employees, serve more than 3,500 customers and continue to operate from its existing facilities.
“We are incredibly excited to announce the combination of Calero and MDSL,” said Steven F. Kaplan, General Partner of Riverside Partners, Calero’s current Chairman. “Both Charles and Scott are accomplished executives who bring the leadership, passion and industry experience required to take the combined company to the next levels of success. I am also pleased to report that Joe Pajer, currently CEO of Calero, will remain highly involved with the business and will serve as a Board member of the new company, assisting with the efforts to combine these two companies.” Mr. Kaplan will continue to serve as Chairman of the merged companies.
CEO Charles Layne said, “During the past 25 years, both MDSL and Calero have focused on technology innovation and automation, which our clients have embraced and appreciated. We want to assure all of our customers that they remain our top priority as we plan for the combination of these two businesses.” Mr. Layne added, “Calero and MDSL will continue to support all existing customer technology platforms and will maintain the outstanding customer service levels customers have come to expect from both companies, even as we add new capabilities and insights to our solutions set. We believe that bringing together these two forward-thinking, customer-fixated organizations will drive bolder innovations, accelerated timelines, and more value for companies in managing technology expenses.”
Adam Hahn, Principal of Oak Hill stated, “Technology Expense Management is a fast-growing space that addresses complex customer pain points and possesses attractive business model characteristics that match Oak Hill’s targeted investment criteria. Calero and MDSL are high-performing players within this space, with outstanding product features and excellent reputations for high quality service. We are excited to partner with the Calero and MDSL management teams, employees, and with Riverside and SEP to lead a new chapter of continued growth.”
Joe Pajer, Calero’s current CEO, said, “With the completion of the combination of Calero and MDSL, I will be joining the Board of Directors and will continue to support Riverside and the combined company as we bring together two highly successful businesses. I am thrilled at the opportunity for our employees and very excited for our new partnership with Oak Hill and SEP.”
George Kadifa and Sanjeet Mitra, Managing Directors at SEP and MDSL Board Directors, said “MDSL and its management team have delivered incredibly strong performance and aggressively advanced product innovation in the TEM space since our partnership began in 2016. We are highly enthusiastic about a partnership with Oak Hill, Riverside and the Calero team and strongly believe this merger will enable the companies to continue to deliver best-in-class satisfaction and product leadership to customers while employing the most talented workforce in the industry.” As a part of the transaction, Mr. Mitra will continue to serve as a Board Director of the merged company.
William Blair served as financial advisor and Kirkland & Ellis served as legal advisor to MDSL. Choate served as legal advisor to Calero and Riverside. UBS Investment Bank served as financial advisor and Paul Weiss as legal advisor to Oak Hill. Transaction financing is being provided by Golub Capital.
About Calero 
Calero Software is a provider of Communications and Cloud Lifecycle Management (CLM) solutions designed to turn communication data into actionable insight by simplifying the management of voice, mobile and other unified communications services and assets. With a deep commitment to innovation and customer service, Calero’s CLM approach enables organizations to support the full communications lifecycle, from procurement to payment, including software and services that aid Telecom Expense Management (TEM), Managed Mobility Services (MMS) and Usage Management. Calero Software has thousands of customers in over 50 countries worldwide, including corporations, universities and government agencies. Learn more at http://www.calero.com.
About MDSL 
MDSL is a provider of Technology Expense Management Solutions and Market Data Management and partners with enterprises to provide clarity, control, compliance, and cost savings across its global technology estates. MDSL provides a unified expense management platform encompassing categories such as telecoms, cloud services, the Internet of Things, and Financial Market Data Management. By providing best practice procedures, unparalleled visibility of spend and automating time-consuming processes, MDSL helps ensure global digital transformations are smooth, secure, and cost-effective. For more information, visit https://www.mdsl.com.
About Oak Hill Capital 
Oak Hill Capital is a private equity firm managing funds with approximately $15 billion of initial capital commitments and co-investments since inception. Over the past 33 years, Oak Hill Capital and its predecessors have invested in over 90 private equity transactions across broad segments of the U.S. and global economies. Oak Hill Capital applies an industry-focused, theme-based approach to investing in the following sectors: Consumer, Retail & Distribution; Industrials; Media & Communications; and Services. Oak Hill works actively in partnership with management to implement strategic and operational initiatives to create franchise value. For more information, please visit http://www.oakhill.com.
About Riverside Partners 
Founded in 1989, Riverside Partners is a middle market private equity firm currently investing Riverside Fund VI, L.P. The fund focuses on growth-oriented companies primarily in the healthcare and technology industries. Riverside Partners is particularly experienced at partnering with founders, owners and management teams and it brings substantial domain expertise and operating experience to its portfolio companies. For more information, visit http://www.riversidepartners.com.
About Sumeru Equity Partners 
Sumeru Equity Partners (“SEP”) is a technology-focused private equity firm that invests in middle market companies across software, technology-enabled services and hardware. The firm employs a growth-oriented partnership model with technology companies and typically invests $25-200 million per transaction. The firm was founded in 2014 by an experienced team from Silver Lake Sumeru, a private equity fund started in 2007 within Silver Lake. SEP has a longstanding history of investing and partnering with founders and management teams to build growth leaders. SEP has backed leading software companies such as ForeFlight, GoGuardian, Azuga, Blackline, Talend, Kyriba and Buildium. MDSL has been in the SEP portfolio since 2016. For more information about SEP and its full portfolio, please visit http://www.sumeruequity.com.
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<title>PE-backed Planet to buy staffing provider WinterWyman</title>
<link>https://www.pehub.com/2019/11/pe-backed-planet-to-buy-staffing-provider-winterwyman/</link>
<comments>https://www.pehub.com/2019/11/pe-backed-planet-to-buy-staffing-provider-winterwyman/#respond</comments>
<pubDate>Tue, 19 Nov 2019 15:47:32 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Business Services]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3606792</guid>
<description><![CDATA[The Planet Group, a portfolio company of MidOcean Partners, has agreed to acquire Waltham, Massachusetts-based WinterWyman, a staffing provider specializing in technology, finance, administration and human resources. No financial terms were disclosed. Bowstring LLC advised WinterWyman on the transaction.]]></description>
<content:encoded><![CDATA[The Planet Group, a portfolio company of MidOcean Partners, has agreed to acquire Waltham, Massachusetts-based WinterWyman, a staffing provider specializing in technology, finance, administration and human resources. No financial terms were disclosed. Bowstring LLC advised WinterWyman on the transaction.
PRESS RELEASE
CHICAGO (PRWEB) NOVEMBER 18, 2019 
The Planet Group (“Planet”), a portfolio company of MidOcean Partners and leading provider of outsourced human capital and consulting solutions, announced today that it has entered into an agreement to acquire WinterWyman, a leading staffing provider specializing in Technology, Finance & Admin and Human Resources. Michael Stomberg, CEO of Planet, said that this acquisition aligns with Planet’s strategic initiative to provide a full suite of consulting and strategic resourcing solutions to our global client base.
Established in 1972, WinterWyman is a premier provider of contract staffing services and is among the best-known talent acquisition firms in the Northeastern U.S. Over the years, WinterWyman has developed an excellent reputation for client and candidate satisfaction fostered by a tenured team recruiting high-impact talent in several key functional areas.
WinterWyman will continue to be led by current CEO Scott Ragusa, a staffing industry veteran and recognized leader who has been with the company since 1999. Ragusa commented, “We’re proud of all we have accomplished at WinterWyman during our 47-year history and excited about our future with The Planet Group. We look forward to continued growth and success as part of this prestigious organization.”
“This is a landmark deal for Planet as we continue to follow our expansion strategy,” said Stomberg. “WinterWyman’s current service offerings complement Planet’s existing workforce solutions and the addition provides significant cross-selling opportunities.” The combination of these two businesses further strengthens Planet’s rapidly growing position in the industry as a provider of choice offering a comprehensive suite of professional staffing and consulting services.
MidOcean Partners, a premier middle market private equity firm, made a significant investment in Planet in January 2018 to escalate the company’s strategic initiatives and drive continued growth. Planet will look to continue accelerating its expansion through future M&A activity.
Bowstring, LLC acted as the exclusive advisor to WinterWyman.
About The Planet Group 
The Planet Group is a diversified professional services organization focused on providing high-value outsourced human capital solutions and niche consulting services to Fortune 500 and other leading clients in the fastest growing and most in-demand sectors. The Planet Group consists of seven related entities and has been purposefully built to address the professional services needs of leading companies in the life sciences, diversified energy & engineering, healthcare and digital marketing industries. The Company was founded in 2009 and is headquartered in Chicago, Illinois. For more information, please visit The Planet Group’s website (https://theplanetgroup.com/)
About WinterWyman 
WinterWyman is one of the Northeast’s most recognized talent acquisition firms providing contract staffing, temp-to-perm and contingency search services in the areas of Accounting & Finance, Human Resources, Administrative and Technology. Headquartered in Waltham, Massachusetts. WinterWyman helps leading organizations – from Fortune 500 powerhouses to emerging businesses – identify, attract and recruit talented professionals. For more information, please visit WinterWyman’s website (https://www.winterwyman.com/).
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<title>PE-backed Intrepid acquires BWM Outcomes</title>
<link>https://www.pehub.com/2019/11/pe-backed-intrepid-acquires-bwm-outcomes/</link>
<comments>https://www.pehub.com/2019/11/pe-backed-intrepid-acquires-bwm-outcomes/#respond</comments>
<pubDate>Tue, 19 Nov 2019 15:32:21 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[M&A]]></category>
<category><![CDATA[Tech]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3606770</guid>
<description><![CDATA[Intrepid Solutions and Services Inc, a portfolio company of Bluestone Investment Partners LLC, has acquired BWM Outcomes, a provider of cybersecurity and intelligence analysis services. No financial terms were disclosed. Holland and Knight provided legal advice to Intrepid while PilleroMazza PLLC did likewise to BWM.]]></description>
<content:encoded><![CDATA[Intrepid Solutions and Services Inc, a portfolio company of Bluestone Investment Partners LLC, has acquired BWM Outcomes, a provider of cybersecurity and intelligence analysis services. No financial terms were disclosed. Holland and Knight provided legal advice to Intrepid while PilleroMazza PLLC did likewise to BWM.
PRESS RELEASE
MCLEAN, Va., Nov. 19, 2019 /PRNewswire/ — Bluestone Investment Partners, LLC (“Bluestone”), a McLean, Virginia-based private equity firm, is pleased to announce that its portfolio company, Intrepid Solutions and Services, Inc. (“Intrepid” or the “Company”) has completed the acquisition of BWM Outcomes, LLC (“BWM”). BWM is a provider of cybersecurity and intelligence analysis services, including: cyber threat intelligence; information assurance; intrusion detection and remediation; data analytics; document and media exploitation; and; improvised threat analytics to defense, intelligence, and national security customers. BWM was founded by Mrs. Jacqueline Bahe. Prior to starting BWM, Mrs. Bahe served in the United States armed forces as a Communications and Intelligence Officer in the Marine Corps and an Intelligence Officer in the Navy. Mrs. Bahe will join Intrepid’s leadership team as BWM President and continue to run the business, together with the rest of her team.
Eric Wolking, Operating Partner of Bluestone said, “BWM is an excellent first add-on acquisition for Intrepid. It brings the Company sought-after capabilities in the areas of cybersecurity and intelligence analysis, and attractive new, full and open customer relationships. Overall, this is an important early step in our process to help Intrepid accelerate growth and it is a great complement to Intrepid’s recent investment in senior leadership talent to support organic growth activities.”
“Jacqui is an impressive leader and well regarded by her employees and customers,” said Ryan Hebert, Chief Executive Officer of Intrepid. “Given her experience within the intelligence community, she maintains extensive relationships with intelligence customers and has a wealth of knowledge related to issues involving critically sensitive intelligence and national security initiatives. We are excited she is joining the Intrepid team.”
Jacqueline Bahe, President of BWM added, “I am thrilled to partner with Intrepid and Bluestone. My entire career has been focused on supporting high priority intelligence and national security initiatives. I have a deep personal commitment to BWM’s customer base, and I am excited that BWM’s combination with Intrepid will afford me more time to engage with clients and well as the opportunity to bring them expanded capabilities.”
Holland and Knight acted as Intrepid’s legal adviser in the transaction. Dixon Hughes Goodman LLP provided quality of earnings services for Intrepid. PilleroMazza PLLC served as legal adviser to BWM.
About Intrepid Solutions and Services, Inc. 
Established in 2008, Intrepid is a provider of enterprise IT, data analysis, and operational training services exclusively to customers in the U.S. Intelligence Community. The Company is headquartered in Sterling, Virginia. 
www.intrepidsolutions.com
About Bluestone Investment Partners 
Bluestone is a private equity firm investing exclusively in lower middle-market companies in the defense and government services arena. Bluestone’s principals have a long and successful track record owning, operating, investing in, and advising companies in the defense and government services sector. 
www.bluestoneinv.com.
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<title>PE-backed THG buys EBA</title>
<link>https://www.pehub.com/2019/11/pe-backed-thg-buys-eba/</link>
<comments>https://www.pehub.com/2019/11/pe-backed-thg-buys-eba/#respond</comments>
<pubDate>Tue, 19 Nov 2019 15:28:29 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Financial Services]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3606778</guid>
<description><![CDATA[The Hilb Group, a portfolio company of Abry Partners, has acquired North Carolina-based Employee Benefit Advisors of the Carolinas LLC, a employee benefits agency for small to mid-market businesses in the Southeast region. No financial terms were disclosed.]]></description>
<content:encoded><![CDATA[The Hilb Group, a portfolio company of Abry Partners, has acquired North Carolina-based Employee Benefit Advisors of the Carolinas LLC, a employee benefits agency for small to mid-market businesses in the Southeast region. No financial terms were disclosed.
PRESS RELEASE
RICHMOND, Va., Nov. 19, 2019 /PRNewswire/ — The Hilb Group, LLC (“THG”) announced today the acquisition of North Carolina-based Employee Benefit Advisors of the Carolinas, LLC (“EBA”). The transaction became effective November 1, 2019.
Located in Charlotte, North Carolina, EBA is a full-service employee benefits agency for small to mid-market businesses in the Southeast region. EBA’s team has expertise in group health & dental, life & disability, as well as other employer sponsored benefits. As a part of the transaction, EBA will join THG’s Southeast operations and Suzy Johnson, EBA Principal, will work alongside THG’s team to grow the region’s benefits division.
“EBA takes pride in the mission and culture that we have established as a woman owned agency,” said Johnson. “In choosing a partner, THG stood out in their commitment to support our growth and the alignment with our values, particularly ‘Do the right thing.’ The additional resources and solutions that THG has to offer will also greatly benefit our team members and clients as we move to the next chapter in EBA’s history.
“EBA’s experience and market relationships will continue to fuel the growth of our existing benefits division in the Southeast region,” said Ricky Spiro, CEO of THG. “We look forward to their added expertise, and welcome EBA’s associates to our team.”
About the Hilb Group: The Hilb Group is a leading middle market insurance agency headquartered in Richmond, Virginia and is a portfolio company of Boston-based private equity firm, Abry Partners. The Hilb Group seeks to grow through targeted acquisitions in the middle market insurance brokerage space. The company now has over 90 offices in 21 states. Please visit our website at: http://hilbgroup.com.
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<title>PE-backed Radius buys Doncasters’ aerospace forming and fabricating business</title>
<link>https://www.pehub.com/2019/11/pe-backed-radius-buys-doncasters-aerospace-forming-and-fabricating-business/</link>
<comments>https://www.pehub.com/2019/11/pe-backed-radius-buys-doncasters-aerospace-forming-and-fabricating-business/#respond</comments>
<pubDate>Tue, 19 Nov 2019 15:16:58 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Industrial/Manufacturing]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3606762</guid>
<description><![CDATA[Radius Aerospace Inc, a portfolio company of Arlington Capital Partners, has acquired UK-based Doncasters Group Limited’s aerospace forming and fabricating business. The business has been renamed Radius Europe but will also trade under its historical Bramah and Shrewsbury names. No financial terms were disclosed.]]></description>
<content:encoded><![CDATA[Radius Aerospace Inc, a portfolio company of Arlington Capital Partners, has acquired UK-based Doncasters Group Limited’s aerospace forming and fabricating business. The business has been renamed Radius Europe but will also trade under its historical Bramah and Shrewsbury names. No financial terms were disclosed.
PRESS RELEASE
WASHINGTON–(BUSINESS WIRE)–Radius Aerospace, Inc. (“Radius” or the “Company”), a portfolio company of Arlington Capital Partners (“Arlington Capital”), today announced the acquisition of Doncasters Group Limited’s Aerospace Forming and Fabricating Business in Sheffield and Shrewsbury, located in the United Kingdom. The purchased entity has been renamed Radius Aerospace UK Ltd (“Radius Europe”), but will also trade under its historical Bramah and Shrewsbury names.
Radius Europe is a provider of complex forming and fabrication components to the aerospace and defense industry, with a primary focus on engines. Radius Europe operates from two facilities located in Sheffield and Shrewsbury, UK. The existing management team led by Kevan Donohoe will run Radius Europe.
Peter Manos, a Managing Partner at Arlington Capital, said, “We are very excited about this highly complementary acquisition which will create one of the largest and most vertically integrated independent aerospace forming companies in the industry. Radius now has an international presence serving a truly global customer base across a diversified set of end-markets. Radius has historically focused on mission-critical structural components on aerospace and defense programs; with this acquisition, Radius is now additionally well-positioned on growing next-generation engine programs like the GTF, LEAP and F-135.”
Tony Johnson, CEO of Radius, said, “We look forward to adding Radius Europe’s broad and deep capability suite to the broader Radius platform. Kevan and the entire Radius Europe team are best-in-class operators and we are thrilled to have the opportunity to collaborate together. We look forward to working with the Radius Europe team to further invest in and grow the business and service our customers.”
Kevan Donohoe, Executive Vice President of Radius Europe, said, “We are excited to partner with veteran aerospace leaders like Tony and Arlington Capital for the next stage of our Company’s growth. The independent aerospace forming and fabrications pure play and the commitment of capital to the business will allow us to better serve our customers.”
Bilal Noor, a Vice President at Arlington Capital said, “This acquisition provides a strong fit with Radius and will generate several key synergies from knowledge transfer and cross-selling opportunities. Radius Europe is a long-tenured supplier to many of Europe’s most important aerospace customers; the acquisition will give the broader Radius business access to these customers. The combined business is poised to continue its rapid growth trajectory and continue to win attractive work packages.”
About Arlington Capital Partners 
Arlington Capital Partners is a Washington, DC-based private equity firm that is currently investing out of Arlington Capital Partners V, L.P., a $1.7 billion fund. The firm has managed approximately $4.0 billion of committed capital via five investment funds. Arlington is focused on middle market investment opportunities in growth industries including aerospace & defense, government services and technology, healthcare, and business services and software. The firm’s professionals and network have a unique combination of operating and private equity experience that enable Arlington to be a value-added investor. Arlington invests in companies in partnership with high quality management teams that are motivated to establish and/or advance their company’s position as leading competitors in their field. www.arlingtoncap.com.
About Radius Aerospace 
Radius Aerospace, Inc., headquartered in Hot Springs, Arkansas, is a leading provider of fabrications and other vertically integrated products and solutions primarily to OEM and Tier 1 aerospace and defense customers. Radius also has locations in Shelbyville, IN; Fort Worth, TX; Phoenix, AZ; and San Diego, CA. Across its five locations, the Company specializes in all forming methods, including titanium sol-gel coating, metal bonding, specialty alloy welding, stretch forming, hydroforming, welding, brazing, processing, titanium SPF forming and aluminum and titanium chemical milling, among other capabilities.
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<title>Winklevoss backed Gemini Trust buys Nifty Gateway</title>
<link>https://www.pehub.com/2019/11/winklevoss-backed-gemini-trust-buys-nifty-gateway/</link>
<comments>https://www.pehub.com/2019/11/winklevoss-backed-gemini-trust-buys-nifty-gateway/#respond</comments>
<pubDate>Tue, 19 Nov 2019 12:33:16 +0000</pubDate>
<dc:creator><![CDATA[Luisa Beltran]]></dc:creator>
<category><![CDATA[Financial Services]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3606745</guid>
<description><![CDATA[Gemini Trust Co LLC said Nov. 19 that it has acquired Nifty Gateway. Financial terms weren’t announced. Nifty Gateway is a platform for non-fungible tokens. Gemini Trust is the cryptocurrency exchange founded by the brothers Cameron and Tyler Winklevoss.]]></description>
<content:encoded><![CDATA[Gemini Trust Co LLC said Nov. 19 that it has acquired Nifty Gateway. Financial terms weren’t announced. Nifty Gateway is a platform for non-fungible tokens. Gemini Trust is the cryptocurrency exchange founded by the brothers Cameron and Tyler Winklevoss.
PRESS RELEASE
NEW YORK, Nov. 19, 2019 /PRNewswire/ — <a href="https://c212.net/c/link/?t=0&l=en&o=2646913-1&h=1883168802&u=https%3A%2F%2Fgemini.com.%2F&a=Gemini+Trust+Company%2C+LLC">Gemini Trust Company, LLC</a> (Gemini), a cryptocurrency exchange and custodian, today announced that a parent company acquired <a href="https://c212.net/c/link/?t=0&l=en&o=2646913-1&h=2857590160&u=https%3A%2F%2Fniftygateway.com%2F%23%2Flwhome&a=Nifty+Gateway">Nifty Gateway</a><img src="https://s.w.org/images/core/emoji/12.0.0-1/72x72/2122.png" alt="™" class="wp-smiley" style="height: 1em; max-height: 1em;" />, a popular platform for non-fungible tokens (NFTs, also known as “nifties”) that power the emerging economy of digital collectibles and virtual goods. With this acquisition, Nifty Gateway will now be powered by Gemini’s secure, institutional-grade infrastructure. The move marks the first acquisition by a member of the Gemini group and extends the reach of cryptocurrency into new use cases.
Unlike cryptocurrencies such as bitcoin, nifties are cryptographic tokens that represent a unique asset or good on the blockchain, are one of a kind, and are not interchangeable. Blockchains can enable gamers to buy and trade interoperable digital collectibles such as skins, dances, and in-game items, helping further fuel a $50 billion-plus annual market1 for virtual goods.
“Non-fungible tokens and the digital goods (and collectibles) they enable will play a major role in the next era of the digital economy. They are the perfect form factor for crypto-collectibles, crypto-art, and much more – laying the foundation for entirely new multi-billion dollar industries to emerge,” said Tyler Winklevoss, CEO of Gemini. “As Gemini continues to build the future of money, we will partner with or acquire companies led by entrepreneurs that share our mission and core values. We’re excited to be working with Nifty Gateway to extend the reach of crypto across other concepts and build a bridge between NFT creators and the growing ranks of everyday consumers looking to purchase them.”
Founded in 2018 by brothers Duncan and Griffin Cock Foster, Nifty Gateway facilitates nifty purchases for some of today’s most popular crypto-games and applications, including OpenSea, Gods Unchained, and CryptoKitties. With Nifty Gateway, users can purchase NFTs directly with fiat currency using their credit card, like a normal online purchase, making NFTs accessible to anyone.
“Nifties are a fundamentally new type of digital good and are an important tool for ownership as our lives move more and more online,” said Duncan Cock Foster, co-founder of Nifty Gateway. “Gemini’s mission and focus on security and regulation are aligned with our approach to NFTs and digital assets. Working with the market leader in digital asset security is a critical step toward our goal of getting a billion people collecting NFTs.”
Nifty Gateway also gives decentralized application (dApp) and game developers a powerful and intuitive suite of tools that simplifies the process of selling nifties. For dApps and games leveraging Nifty Gateway, NFTs are priced in U.S. dollars. This significantly lowers the barrier to entry for interested users because they don’t need to own cryptocurrency to acquire and use NFTs and their associated unique digital assets. Nifty Gateway will remain a separate experience operating within the Gemini family as its own entity.
About Gemini Trust Company, LLC
Gemini Trust Company, LLC (Gemini) is a cryptocurrency exchange and custodian that allows customers to buy, sell, and store cryptos such as bitcoin, bitcoin cash, ether, zcash, and litecoin. Gemini is a New York trust company that is subject to the capital reserve requirements, cybersecurity requirements, and banking compliance standards set forth by the New York Department of Financial Services and the New York Banking Law. Gemini was founded in 2014, by brothers Cameron and Tyler Winklevoss, to build a bridge to the future of money.
To learn more, visit <a href="https://c212.net/c/link/?t=0&l=en&o=2646913-1&h=1948082337&u=https%3A%2F%2Fgemini.com%2F&a=https%3A%2F%2Fgemini.com">https://gemini.com</a>.
 
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<title>SBJ-backed ALS Resolvion and TZP’s Del Mar merge</title>
<link>https://www.pehub.com/2019/11/sbj-backed-als-resolvion-and-tzps-del-mar-merge/</link>
<comments>https://www.pehub.com/2019/11/sbj-backed-als-resolvion-and-tzps-del-mar-merge/#respond</comments>
<pubDate>Tue, 19 Nov 2019 12:05:37 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Financial Services]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3606697</guid>
<description><![CDATA[ALS Resolvion, which is backed by Spanos Barber Jesse & Co and Del Mar Recovery Solutions, a portfolio company of TZP Group, have merged. The combined company will operate under the Resolvion name and form a automotive collateral recovery solutions provider. No financial terms were disclosed. Michael Levison, CEO of ALSR, will remain CEO while Del Mar CEO Josh Elias, will become president. Both SBJ and TZP have rolled all of their ownership in the merger.]]></description>
<content:encoded><![CDATA[ALS Resolvion, which is backed by Spanos Barber Jesse & Co and Del Mar Recovery Solutions, a portfolio company of TZP Group, have merged. The combined company will operate under the Resolvion name and form a automotive collateral recovery solutions provider. No financial terms were disclosed. Michael Levison, CEO of ALSR, will remain CEO while Del Mar CEO Josh Elias, will become president. Both SBJ and TZP have rolled all of their ownership in the merger.
PRESS RELEASE
November 19, 2019: Spanos Barber Jesse & Co. (“SBJ”) and TZP Group (“TZP”) announced today that they merged SBJ’s portfolio company, ALS Resolvion (“ALSR”), with TZP’s portfolio company, Del Mar Recovery Solutions (“Del Mar”).
The combined company will operate under the name Resolvion and creates one of the largest automotive collateral recovery solutions companies in the industry. Combined, Resolvion serves over 200 customers nationwide, including 40 of the top 50 auto finance lenders. The combined entity will be led by ALSR Chief Executive Officer Michael Levison, who will remain Chief Executive Officer, and Del Mar Chief Executive Officer Josh Elias, who will become President. Both SBJ and TZP rolled all of their ownership in the merger.
“Combining these two companies makes tremendous sense. Both are leaders in the industry, share a similar operating philosophy, and bring strong teams to our client relationships. By combining operations, we are able to invest more in performance improvement and we will be able to take our respective compliance capabilities to new levels while, at the same time, improving operating efficiency,” commented Michael Levison.
“Scale has become very important in this industry and the merger with ALSR allows us to offer lenders exciting new capabilities and meet the industry’s growing need for operating efficiencies,” commented Josh Elias.
SBJ, in partnership with management, invested in ALSR in July 2018 with plans to consolidate the industry and to leverage ALSR’s industry leading technology platform to drive efficiencies. Since SBJ’s investment, in addition to completing the merger with Del Mar, ALSR has accomplished several key milestones, including hiring Scott Darling as Chief Operating Officer (formerly of Wells Fargo and Capital One) and Tim Russi as a board member (former President of Ally Auto Finance), adding valuable new customers, increasing wallet share with existing customers, and increasing internal efficiencies through the use of its proprietary technology platform.
TZP invested in Del Mar in June of 2016 in partnership with Josh Elias, Del Mar’s Founder and CEO. Del Mar quickly scaled to become a leading provider of compliant asset recovery services to automotive lenders nationwide. Since TZP’s investment, Del Mar accomplished key milestones, including hiring Ren Zamora (formerly Chief Financial Officer of National Credit Adjusters) and Rod Browning (formerly Chief Information Officer of National Credit Adjusters), adding numerous new customers, and creating a best-in-class compliance program.
“We are very pleased to partner with Del Mar and TZP in creating one of the largest and fastest growing players in the collateral recovery industry,” commented Tom Barber, Co-Founder and Managing Director at SBJ. “This merger represents the combination of two great companies with complementary strengths, customers and management teams. It’s an overused phrase, but this merger is truly an example of 1 + 1 equaling 3.”
“The ALSR and Del Mar merger creates one of strongest management teams in the industry with a deep dedication to leveraging best-in-class technology and compliance to deliver industry leading results and efficiency to its clients. With SBJ we look forward to supporting Resolvion to become the gold standard in the industry,” commented Rodney Eshelman, Partner of TZP Group.
About ALS Resolvion 
Resolvion was originally founded in 1996 in Shelton, CT as a construction and commercial equipment asset recovery business. In 2014, Resolvion merged with American Lending Services (“ALS”) to form ALS Resolvion. ALSR provides loss mitigation services, including location and recovery services, for a blue-chip customer base of auto finance companies. The company contracts with lenders to manage the collateral recovery process, including locating vehicles and utilizing a nationwide network of over 700 third-party asset recovery companies. Please visit https://resolvion.com for more information.
About Del Mar Recovery Solutions 
Del Mar Recovery Solutions is a leading provider of a comprehensive range of automotive asset recovery management services to leading automotive lenders including banks, credit unions, title lenders, captive lenders, and specialty finance companies. Founded in 2011 and based in Carlsbad, CA, Del Mar specializes in skiptracing, national asset recovery management, license plate recognition, and specialty recovery services.
About Spanos Barber Jesse & Co. 
Spanos Barber Jesse & Co. is a private investment firm with approximately $300 million of committed capital, focused on leading investments in founder and family-owned consumer, business services and healthcare services companies. SBJ provides thoughtful strategic advice, domain expertise and a partnership-oriented approach to support the goals of entrepreneurs, owners and management teams. SBJ was founded by an experienced team of professionals with a track record of growing companies both as principal investors and as operating executives. Please visit www.sbjcap.com for more information.
About TZP Group 
TZP Group, a private equity firm with $1.6 billion under management across its family of funds, is focused on investments in business and consumer services companies. Founded in 2007, TZP targets companies with solid historical performance and sustainable value propositions and aims to be a “Partner of Choice” for business owners and management teams. TZP seeks to invest primarily in closely-held, private companies where the owners desire to retain a significant stake and partner with an investor with complementary operating and financial skills to accelerate company growth, increase profitability, and maximize the value of their retained stake. TZP leverages its investment professionals’ operating and investment experience to provide strategic and operational guidance and is dedicated to long-term value creation. Please visit www.tzpgroup.com/ for more information.
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<title>Smiths Group puts medical equipment business up for sale: Bloomberg</title>
<link>https://www.pehub.com/2019/11/smiths-group-puts-medical-equipment-business-up-for-sale-bloomberg/</link>
<comments>https://www.pehub.com/2019/11/smiths-group-puts-medical-equipment-business-up-for-sale-bloomberg/#respond</comments>
<pubDate>Tue, 19 Nov 2019 11:56:51 +0000</pubDate>
<dc:creator><![CDATA[Luisa Beltran]]></dc:creator>
<category><![CDATA[Healthcare]]></category>
<category><![CDATA[M&A]]></category>
<category><![CDATA[healthcare]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3606736</guid>
<description><![CDATA[Smiths Group has put its medical equipment business on the block, Bloomberg reported. First round bids are expected for the unit by the end of the year, the story said. Smiths’s medical equipment business could sell for more than $3 billion, Bloomberg said.]]></description>
<content:encoded><![CDATA[Smiths Group has put its medical equipment business on the block, <a href="https://news.bloomberglaw.com/health-law-and-business/smiths-is-said-to-kick-off-sale-of-3-billion-medical-business">Bloomberg reported</a>. First round bids are expected for the unit by the end of the year, the story said. Smiths’s medical equipment business could sell for more than $3 billion, Bloomberg said.
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<title>A&R Logistics buys Plantgistix</title>
<link>https://www.pehub.com/2019/11/ar-logistics-buys-plantgistix/</link>
<comments>https://www.pehub.com/2019/11/ar-logistics-buys-plantgistix/#respond</comments>
<pubDate>Tue, 19 Nov 2019 11:33:30 +0000</pubDate>
<dc:creator><![CDATA[Luisa Beltran]]></dc:creator>
<category><![CDATA[Business Services]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3606726</guid>
<description><![CDATA[A&R Logistics, a Wind Point Partners's portfolio company, said Nov. 19 that it has acquired Plantgistix Holdings. Financial terms weren’t announced. Plantgistix provides packaging, warehousing, and export services for the plastic resin industry.]]></description>
<content:encoded><![CDATA[A&R Logistics, a Wind Point Partners‘s portfolio company, said Nov. 19 that it has acquired Plantgistix Holdings. Financial terms weren’t announced. Plantgistix provides packaging, warehousing, and export services for the plastic resin industry.
PRESS RELEASE 
A&R Logistics Acquires Plantgistix 
Acquisition strengthens A&R’s supply chain platform for the chemical industry
Chicago, IL, November 19, 2019 – Wind Point Partners and portfolio company A&R Logistics (“A&R”), one of North America’s leading supply chain services companies for the chemical industry, are pleased to announce that A&R has acquired Plantgistix Holdings (“Plantgistix”), a premier provider of packaging, warehousing, and full-scale export services dedicated to the plastic resin industry. Plantgistix serves the world’s largest chemical producers out of three strategically located facilities in the Houston area with plans for significant additional expansion. Plantgistix also provides a variety of resin enhancement and in-plant services to its customer base.
Following the acquisition of Plantgistix, A&R will be positioned as North America’s most significant provider of outsourced warehousing, packaging and export services dedicated to the plastic resin industry. Earlier this year, A&R announced projects totaling more than $100 million to establish facilities on the U.S. East Coast in Charleston, SC and Savannah, GA. Plantgistix complements A&R’s East Coast strategy, immediately establishing a large and growing footprint near the Port of Houston. A&R will stand as the industry’s only logistics provider offering complete export solutions out of Houston, Charleston and Savannah.
Founded in 1981 by Marc Levine, Plantgistix is considered one of North America’s best operated plastic resin export packaging operations, delivering consistently high-quality solutions to the world’s largest chemical companies. Following the transaction, Plantgistix’s president, Sam Diaz, and the entire Plantgistix team will join A&R.
“Through his focus on delivering the industry’s highest quality service, and an emphasis on building a strong corporate culture, Marc Levine laid the foundation for a truly unique company,” stated Mark Holden, CEO of A&R. “Likewise, Sam Diaz has done a remarkable job leading the business day-to-day, positioning Plantgistix as a true leader in this space. We could not be happier to welcome the Plantgistix management team and employees to the A&R family.”
Konrad Salaber, Managing Director with Wind Point Partners, noted, “Aggressively expanding A&R’s presence in the chemicals export market was a key value creation initiative identified at the time of our investment, and this acquisition advances A&R’s position as one of the largest, most flexible supply chain partners for the world’s leading chemical companies. This combination is very exciting for A&R, Plantgistix, and all of our respective customers and employees.”
Sam Diaz, President of Plantgistix, commented, “The entire Plantgistix team is thrilled about this transaction and I look forward to merging our two teams. We chose A&R as our future partner due to our common core values and shared dedication to providing customers with the industry’s most consistent, reliable, creative and flexible solutions. This broader platform will allow us to provide the industry with a multi-port export packaging solution as well as an end-to-end service offering that includes resin enhancement and in-plant services. This creates a special platform offering unparalleled opportunities for customers and employees alike.”
Wind Point Partners acquired A&R in May of 2019 in partnership with CEO Mark Holden, a veteran executive in the logistics space who previously led four separate investments to a successful sale or IPO. This represents the second add-on for A&R under Wind Point’s ownership, following the addition of Blue Water Plastic Transport in June 2019. A&R’s acquisition strategy will continue to focus on acquiring companies that provide dry bulk transportation, warehousing and logistics services to producers and distributors of chemicals and plastics. In addition, A&R seeks to expand into complementary services, including liquid chemical supply chain services.
Wind Point is an active investor in transportation, logistics and route-based businesses, with select prior investments including Dicom Transportation, STG Logistics, Valicor Environmental Services, RailWorks and AIR-serv.
Kirkland & Ellis LLP served as legal counsel and KPMG provided transaction advisory services to A&R Logistics. Statesman Corporate Finance served as sell-side financial advisor and Foley and Lardner LLP served as legal counsel to Plantgistix. 
About A&R Logistics 
A&R Logistics Holdings, Inc. is a leading supply chain services company providing dry bulk transportation services, warehousing & packaging, distribution, export, and third-party logistics solutions to numerous multinational companies within the chemical industry. A&R provides a comprehensive suite of services including over-the-road transportation, transloading, packaging, warehousing, and end-to-end outsourced transportation management through a nationwide network of facilities, a combination of Company-owned equipment and owner-operators, and a non-asset based transportation management division.
Additional information about A&R is available at www.ardoingitright.com.
About Wind Point Partners 
Wind Point Partners is a Chicago-based private equity investment firm with approximately $3 billion in assets under management. Wind Point focuses on partnering with top caliber management teams to acquire well-positioned middle market businesses where it can establish a clear path to value creation. The firm targets investments in the consumer products, industrial products, and business services sectors. Wind Point is currently investing out of Wind Point Partners IX, a fund that was initiated in 2019.
Additional information about Wind Point is available at www.windpointpartners.com.
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<title>MODE Transportation to buy SunteckTTS</title>
<link>https://www.pehub.com/2019/11/mode-transportation-to-buy-suntecktts/</link>
<comments>https://www.pehub.com/2019/11/mode-transportation-to-buy-suntecktts/#respond</comments>
<pubDate>Mon, 18 Nov 2019 20:16:02 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[M&A]]></category>
<category><![CDATA[Tech]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3606684</guid>
<description><![CDATA[MODE Transportation, a portfolio company of York Capital Management, has agreed to acquire Jacksonville, Florida-based SunteckTTS, a provider of third-party transportation and logistics. No financial terms were disclosed. Both businesses will operate under the MODE brand name. Piper Jaffray and McDermott Will & Emery advised SunteckTTS on the deal while Kirkland & Ellis provided legal advice to MODE. MODE is a portfolio company of York Capital Management. And, SunteckTTS is backed by Comvest Partners.]]></description>
<content:encoded><![CDATA[MODE Transportation, a portfolio company of York Capital Management, has agreed to acquire Jacksonville, Florida-based SunteckTTS, a provider of third-party transportation and logistics. No financial terms were disclosed. Both businesses will operate under the MODE brand name. Piper Jaffray and McDermott Will & Emery advised SunteckTTS on the deal while Kirkland & Ellis provided legal advice to MODE. MODE is a portfolio company of York Capital Management. And, SunteckTTS is backed by Comvest Partners.
PRESS RELEASE
DALLAS, Nov. 18, 2019 /PRNewswire/ — MODE Transportation (“MODE” or the “Company”) and SunteckTTS Inc. (“SunteckTTS”), two leading multimodal third-party transportation and logistics providers, announced today that they have entered into a definitive merger agreement. Under the terms of the transaction, MODE will acquire SunteckTTS, with both businesses operating under the MODE brand name going forward. The Company will facilitate more than 1.5 million annual customer shipments and generate over $2 billion of revenue.
The new Company will offer a broad range of capabilities across all major modes of transportation including truckload, less-than-truckload, rail intermodal, drayage, air, ocean and parcel freight. The Company will leverage its increased scale and resources to continue investing in technology and innovation for the benefit of its agent, shipper, and carrier communities. 
Following completion of the merger, Jim Damman, President & CEO of MODE, will serve as CEO of the Company and Ken Forster, CEO of SunteckTTS, will serve as President & COO. The expanded leadership team will include senior executives from both MODE and SunteckTTS.
“In today’s increasingly competitive logistics market, the importance of scale, service diversity, and technology cannot be overstated. The combination of MODE and SunteckTTS provides new and existing agents, shippers, and carrier partners a significantly enhanced platform positioned for the future,” said Ken Forster, CEO of SunteckTTS.
“We are very excited to announce this transaction with SunteckTTS. Our two companies are built on a similar culture of outstanding customer service. The addition of SunteckTTS’ robust agent, product and customer base further strengthens MODE’s broad diversity of service offerings, while continuing to position MODE as a premium provider of technology-driven logistics,” said Jim Damman, CEO of MODE Transportation.
“This transaction represents an important milestone in MODE’s history,” continued Damman. “A year ago, we launched an initiative to identify strategic acquisition opportunities that would strengthen the MODE platform and enable us to continue to improve the best-in-class service and capabilities we provide to our customers. We look forward to welcoming SunteckTTS as we continue to execute on this strategy going forward.”
The transaction is subject to customary closing conditions, including regulatory approval, and is expected to close by the end of December. 
MODE is a privately held portfolio company of funds affiliated with York Capital Management. MODE received legal advice from Kirkland & Ellis, LLP. SunteckTTS is a portfolio company of funds affiliated with Comvest Partners, who will continue to own an interest in the company following the completion of the transaction. SunteckTTS was advised by Piper Jaffray and McDermott Will & Emery.
About MODE Transportation 
Founded in 1989, MODE Transportation is a leading North American third-party transportation and logistics company. MODE serves more than 3,500 customers across a diverse set of end markets and modes of transportation. MODE has relationships with over 35,000 carriers and operates from over 100 offices throughout North America. The Company is headquartered in Dallas, TX.
About SunteckTTS 
SunteckTTS operates as a multi‐modal transportation solutions provider through a network of sales, operations and capacity specialists. The company offers a business process outsource program through which independent agents represent SunteckTTS in the freight transportation marketplace. This agent network services shippers throughout the United States and Canada.
About York Capital 
York Capital Management is a global private investment firm that was established in 1991. The firm manages approximately $18 billion in assets across public and private investment strategies, including its private equity platform, the York Special Opportunities Fund. York Capital employs approximately 60 investment professionals and 200 total employees globally, primarily in New York, London and Hong Kong.
About Comvest Partners 
Comvest Partners is a private investment firm providing equity and debt capital to middle-market companies across North America. Since its founding in 2000, Comvest has invested over $4.7 billion. Today, Comvest’s funds have over $3.7 billion of assets under management. Through our extensive capital resources and broad network of industry relationships, we offer our companies financial sponsorship, critical strategic and operational support, and business development assistance.
For more information about MODE Transportation, visit www.modetransportation.com
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<title>PE-backed Driven Brands buys Clairus</title>
<link>https://www.pehub.com/2019/11/pe-backed-driven-brands-buys-clairus/</link>
<comments>https://www.pehub.com/2019/11/pe-backed-driven-brands-buys-clairus/#respond</comments>
<pubDate>Mon, 18 Nov 2019 20:01:06 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[M&A]]></category>
<category><![CDATA[Tech]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3606679</guid>
<description><![CDATA[Driven Brands, which is backed by Roark Capital, has acquired Quebec-based Clairus Group, a provider of automotive glass distribution, replacement, and claims management solutions. No financial terms were disclosed. Jefferies was sole financial adviser to Clairus on the transaction. Headquartered in Charlotte, North Carolina, Driven Brands is the parent company of various automotive aftermarket brands.]]></description>
<content:encoded><![CDATA[Driven Brands, which is backed by Roark Capital, has acquired Quebec-based Clairus Group, a provider of automotive glass distribution, replacement, and claims management solutions. No financial terms were disclosed. Jefferies was sole financial adviser to Clairus on the transaction. Headquartered in Charlotte, North Carolina, Driven Brands is the parent company of various automotive aftermarket brands.
PRESS RELEASE
CHARLOTTE, N.C. (PRWEB) NOVEMBER 18, 2019 
Driven Brands<img src="https://s.w.org/images/core/emoji/12.0.0-1/72x72/2122.png" alt="™" class="wp-smiley" style="height: 1em; max-height: 1em;" />, North America’s leading group of automotive aftermarket brands, today announced its acquisition of the Quebec-based Clairus Group (Clairus), a fast-growing, vertically-integrated leader in automotive glass distribution, replacement, and claims management. The move adds 240 physical service locations, over 330 mobile locations, 22 distribution centers, and a claims management platform to the Driven Brands portfolio.
The acquisition of Clairus is an integral part of Driven Brands’ continued growth in the automotive aftermarket industry. Clairus will form the newly-created Glass vertical. Driven Brands plans to continue its aggressive growth in the automotive glass space under its proven leadership and recognized operational platforms.
“We are thrilled to welcome the Clairus Group into the Driven Brands family. It’s a terrific platform offering great sought-after expertise,” said Jonathan Fitzpatrick, CEO of Driven Brands. “We are excited to add and invest in a new vertical in order to expand our family of brands and generate more growth not only in this market but in the rest of North America.”
Marquee brands include UNIGLASS, VITRO PLUS, Go! Glass, and Docteur du Pare-Brise under the service channel, PH Vitres d’Autos under distribution, and Conversense, its claims management platform.
“This new chapter to the Clairus Group legacy is a stepping-stone in bringing the company to the next level,” said Marc Desmarais, CEO, and President of Clairus Group. “Combining the expertise of both market leaders will help fast track our expansion into the North American market.”
In 2018, a U.S. based private equity firm became majority partner with Uniban Canada and PH Vitres d’Autos, to establish the Clairus Group, the second-largest vertically integrated automotive glass and claims management provider in North America.
Since affiliates of Roark Capital acquired Driven Brands in 2015, it has executed more than 30 acquisitions, including Clairus. Fueled by these acquisitions and strong organic growth, Driven Brands continues to expand across its automotive verticals, increasing the brands’ footprint to over 2,800 locations across North America.
About Driven Brands 
Driven Brands<img src="https://s.w.org/images/core/emoji/12.0.0-1/72x72/2122.png" alt="™" class="wp-smiley" style="height: 1em; max-height: 1em;" />, headquartered in Charlotte, NC, is the parent company of North America’s leading automotive aftermarket brands across four distinct verticals: Repair & Maintenance, housing Meineke Car Care Centers®; Paint & Collision, housing Maaco®, CARSTAR®, and ABRA®; Distribution, housing 1-800-Radiator & A/C®; and Quick Lube, housing Take 5 Oil Change®. Driven Brands has over 2,800 centers across North America, and combined; all businesses generate more than $2.8 billion in system sales and service approximately 8 million vehicles annually. For more information, visit drivenbrands.com.
About the Clairus Group 
The Clairus Group is a leading technology-enabled provider of replacement, repair and recalibration services for automotive glass and related advanced driver assistance systems (ADAS), serving vehicle owners, fleets, and insurance carriers. The Company currently operates 22 distribution centers and services its clientele through more than 240 in-bay service centers and 330 mobile units. More than ever, customers are benefitting from the Company’s automotive glass expertise and its cutting edge on-demand claims technology.
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<title>Episerver to buy Idio</title>
<link>https://www.pehub.com/2019/11/episerver-to-buy-idio/</link>
<comments>https://www.pehub.com/2019/11/episerver-to-buy-idio/#respond</comments>
<pubDate>Mon, 18 Nov 2019 19:58:25 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[M&A]]></category>
<category><![CDATA[Tech]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3606677</guid>
<description><![CDATA[Episerver, which is backed by Insight Partners, has agreed to acquire Idio, a content personalization and analytics platform. No financial terms were disclosed.]]></description>
<content:encoded><![CDATA[Episerver, which is backed by Insight Partners, has agreed to acquire Idio, a content personalization and analytics platform. No financial terms were disclosed.
PRESS RELEASE
NASHUA, N.H., Nov. 18, 2019 /PRNewswire/ — Episerver<img src="https://s.w.org/images/core/emoji/12.0.0-1/72x72/2122.png" alt="™" class="wp-smiley" style="height: 1em; max-height: 1em;" />, the customer-centric digital experience company, has signed a definitive agreement to acquire Idio<img src="https://s.w.org/images/core/emoji/12.0.0-1/72x72/2122.png" alt="™" class="wp-smiley" style="height: 1em; max-height: 1em;" />, a content personalization and analytics platform powering the digital buying experience of some of the world’s largest enterprise organizations. The acquisition significantly accelerates the analytics and personalization roadmap for Episerver Customer-Centric Digital Experience Platform<img src="https://s.w.org/images/core/emoji/12.0.0-1/72x72/2122.png" alt="™" class="wp-smiley" style="height: 1em; max-height: 1em;" /> and strategically addresses the current and future state of buying experiences and expectations – the latter being unmet by most organizations.
Through real-time predictive analytics, Idio helps close the gap between what customers want and what businesses can offer. Idio predicts the interests and intent of every individual buyer and automatically delivers hyper-relevant content to better engage each customer for improved business results and brand affinity.
“At the end of the day, people realize every digital interaction is fueled by a business selling something to them whether the sale is via a shopping cart, a service or a subscription,” said Justin Anovick, chief product officer at Episerver. “Persuading people to act is not problematic if the business is providing something of value to them but most digital interactions are created for the masses and end up catering to no one. 
“Episerver plus Idio gives companies the technology they need to easily provide value to each individual in the form of a truly one-to-one digital experience. The promise of one-to-one personalization is finally realized. Episerver and Idio are a seamless fit both technically and culturally, and we are highly motivated to prove our combined value now and in years to come.”
To reduce the burden of personalization on business users – weary of manual, rules-based personalization engines – Idio automatically indexes, analyzes and categorizes unstructured content data into a structured content hub to deliver relevant 1:1 buyer experiences across digital channels. Since Idio is middleware, Episerver customers can immediately see value from the Idio acquisition with no integration required.
According to Episerver’s B2B Digital Experience Report, 82 percent of B2Bs plan to use AI to personalize customer experiences in the next three years, and Episerver plus Idio can accelerate that delayed timeline.
“Idio powers 1:1 digital experiences at global scale,” said Edward Barrow, CEO of Idio. “This acquisition is the next part of our mission to help our enterprise clients serve their end customers with timely, relevant and cross-channel experiences. The combined organization, with Episerver’s deep content and commerce expertise and Idio’s predictive and analytical capabilities, make for an exciting future for customer-centric marketers.”
About Episerver 
Episerver empowers businesses to scale through the most customer-centric approach to digital experiences. Its Customer-Centric Digital Experience Platform<img src="https://s.w.org/images/core/emoji/12.0.0-1/72x72/2122.png" alt="™" class="wp-smiley" style="height: 1em; max-height: 1em;" /> features best-in-class content management, robust commerce, and intuitive data and personalization solutions. The platform has consistently earned industry, analyst and media recognition for its vision, capabilities and customer commitment. Episerver’s 900+ partners and 700+ employees in offices around the globe are proud to help more than 8,000 customers enrich their customer lifetime value, increase revenue and grow their brands. Learn more at episerver.com
About Idio 
Idio makes 1:1 marketing possible for global B2B enterprises. Idio’s platform uses Content Intelligence to predict the interests of every individual and automatically deliver relevant 1:1 experiences across digital channels. Global leaders including Fitch Ratings, PureStorage and TATA trust Idio’s AI to maximize buyer engagement and pipeline, whilst handling marketing complexity. Idio is based in London and New York, backed by leading SaaS investors including Notion Capital, and in 2017 was named by Forrester Research as a Breakout Vendor, and a “Cool Vendor” by Gartner in 2019. For more information please see http://www.idio.ai
About Insight Partners 
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight currently has over $20 billion of assets under management and has cumulatively invested in more than 300 companies worldwide. Our mission is to find, fund and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. Across our people and our portfolio, we encourage a culture around a core belief: growth equals opportunity. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners
 
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<title>Arlington Capital to sell Quantum Spatial for $303 mln</title>
<link>https://www.pehub.com/2019/11/arlington-capital-to-sell-quantum-spatial-for-303-mln/</link>
<comments>https://www.pehub.com/2019/11/arlington-capital-to-sell-quantum-spatial-for-303-mln/#respond</comments>
<pubDate>Mon, 18 Nov 2019 19:53:48 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[M&A]]></category>
<category><![CDATA[Tech]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3606673</guid>
<description><![CDATA[Arlington Capital Partners has agreed to sell Quantum Spatial to NV5. The purchase price is $303 million. Quantum Spatial is a geospatial data firm.]]></description>
<content:encoded><![CDATA[Arlington Capital Partners has agreed to sell Quantum Spatial to NV5. The purchase price is $303 million. Quantum Spatial is a geospatial data firm.
PRESS RELEASE
WASHINGTON–(BUSINESS WIRE)–Arlington Capital Partners (“Arlington Capital”), a Washington, DC-based private equity firm, announced today that Quantum Spatial (“Quantum” or the “Company”) has executed a definitive agreement to be acquired by NV5 Global, Inc. (NASDAQ:NVEE) for $303 million. Quantum Spatial, one of the nation’s largest independent geospatial data firms, provides geographic insights to government and corporate organizations that need geospatial intelligence to mitigate risk, plan for growth, better manage resources and advance scientific understanding.
Peter Manos, a Managing Partner at Arlington Capital said, “Through significant investments in technology and people, Quantum Spatial has achieved significant organic growth during our ownership and solidified its role as the largest independent geospatial data firm in the United States. Quantum’s capabilities will complement NV5’s existing business lines and will unlock new opportunities for the combined business. We are excited to watch many of our key technology investments and operational initiatives continue to pay dividends under NV5’s leadership.”
“Through a combination of Arlington Capital’s growth investments and an extremely committed employee base, Quantum has built a robust market position and state-of-the art offerings that will accrue to NV5’s benefit in the coming years,” said Peter LaMontagne, CEO of Quantum Spatial. “We are proud of the business we have created, and we thank Arlington Capital for their support in helping drive our strategic growth initiatives and reach our current national scale. As we join with NV5, we are excited for the new capabilities and opportunities that our partnership unlocks.”
David Wodlinger, a Partner at Arlington Capital said, “Quantum’s culture of innovation and its position as the preeminent provider of geospatial data make it a truly unique company in an area of growing strategic and commercial importance. Management worked tirelessly to successfully execute the strategy we developed together, and this tremendous outcome is a testament to their dedication and steadfast work.”
About Arlington Capital Partners 
Arlington Capital Partners is a Washington, DC-based private equity firm that is currently investing out of Arlington Capital Partners V, L.P., a $1.7 billion fund. The firm has managed approximately $4.0 billion of committed capital via five investment funds. Arlington is focused on middle market investment opportunities in growth industries including business services and software, government services and technology, aerospace & defense, and healthcare. The firm’s professionals and network have a unique combination of operating and private equity experience that enable Arlington to be a value-added investor. Arlington invests in companies in partnership with high quality management teams that are motivated to establish and/or advance their company’s position as leading competitors in their field. www.arlingtoncap.com.
About Quantum Spatial 
Quantum Spatial, Inc., one of the nation’s largest independent geospatial data firms, provides geographic insights to the largest government and corporate organizations that need geospatial intelligence to mitigate risk, plan for growth, better manage resources and advance scientific understanding. A pioneer in advanced mapping technology, Quantum Spatial’s end-to-end solutions and services deliver the industry’s highest data quality and accuracy, while leveraging the widest array of technologies for analyzing all types of terrains. Customers use the company’s acquisition, processing, analytics and visualization solutions in a range of technical and scientific disciplines – from geology and biology, to hydrology, forestry and civil engineering. Utilities, oil and gas producers, engineering and construction firms, as well as the military and major government agencies, are Quantum Spatial customers. Quantum Spatial has multiple offices around the country.
About NV5 
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of professional and technical engineering and consulting solutions ranked #34 on the Engineering News-Record’s Top 500 Design Firms list. NV5 serves public and private sector clients in the infrastructure, energy, construction, real estate and environmental markets. NV5 primarily focuses on five business verticals: construction quality assurance, infrastructure engineering and support services, energy, program management, and environmental solutions. The Company operates out of more than 100 locations worldwide. For additional information, please visit the Company’s website at www.NV5.com.
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<title>Marlin-backed Serenova acquires technology from Loxysoft</title>
<link>https://www.pehub.com/2019/11/marlin-backed-serenova-acquires-technology-from-loxysoft/</link>
<comments>https://www.pehub.com/2019/11/marlin-backed-serenova-acquires-technology-from-loxysoft/#respond</comments>
<pubDate>Mon, 18 Nov 2019 19:20:06 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[M&A]]></category>
<category><![CDATA[Tech]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3606669</guid>
<description><![CDATA[Serenova, which is backed by Marlin Equity, has acquired the team and technology behind the ProScheduler platform from Loxysoft. No financial terms were disclosed.]]></description>
<content:encoded><![CDATA[Serenova, which is backed by Marlin Equity, has acquired the team and technology behind the ProScheduler platform from Loxysoft. No financial terms were disclosed.
PRESS RELEASE
Serenova, a leading contact center-as-a-service (CCaaS) and workforce optimization (WFO) provider, today announced it acquired the technology and hired the team behind the ProScheduler platform from Loxysoft. With this new, sophisticated technology added to its portfolio, Serenova will offer customers of all sizes the ability to fully leverage their workforce investments through advanced and accurate scheduling, reducing staffing costs and improving ROI.
ProScheduler will immediately become part of Serenova’s contact center portfolio and will be integrated into the CxEngage platform in the first half of 2020. Once the integration is complete, organizations of all sizes will have access to a new approach to managing their agent workforce, one that takes advantage of a powerful, data-driven optimization engine and integrates seamlessly into existing customer experience programs.
“With this acquisition, Serenova is once again redefining the evolution of the contact center market to help our customers keep pace with evolving consumer demands,” said John Lynch, CEO of Serenova. “By providing tools that deepen the capabilities of supervisors to manage their organizations, we are expanding the meaning and scope of what a cloud contact center platform should be capable of managing.”
Serenova’s integrated solution will enable organizations to significantly improve upon their key performance indicators (KPIs) by enhancing employee engagement, efficiency and satisfaction—a critical component to the contact center’s ability to drive business growth. In fact, the most recent Forrester Wave<img src="https://s.w.org/images/core/emoji/12.0.0-1/72x72/2122.png" alt="™" class="wp-smiley" style="height: 1em; max-height: 1em;" />: Cloud Contact Centers stated that “Forrester believes that natively integrated WFO technologies—such as workforce management (WFM), quality monitoring, call recording, performance management, and text and speech analytics—provide immediate benefits and lay the groundwork for contact centers to evolve strategically.”
“We’ve long believed that the most important next step for the contact center to deliver on their promises of superior customer experiences is to provide the technology and tools that transform the contact center from both the operations and human resource perspective,” said Leslie Blanke, SVP of Product at Serenova. “After careful consideration of all the solutions in the market, ProScheduler was the obvious next step in that vision. This acquisition is another critical milestone in our promise of delivering a global, cloud-based platform to improve agent performance and, in turn, build better customer experiences.”
Workforce Optimization Portfolio 
This is Serenova’s second acquisition to build out its WFO line. It first acquired TelStrat in 2017 and subsequently released its first product on that technology that is integrated into CxEngage with CxEngage Quality Management (CxQM). Already an award-winning product, CxQM unifies Quality Management (QM) with CCaaS to eliminate the challenges created by siloed solutions through a consolidated, 360-view of customer and agent interactions.
For more information on Serenova’s WFO portfolio, visit: www.serenova.com/products/workforce-optimization. To understand how leveraging solutions such as Quality Management can pinpoint areas for improvement and position your organization to deliver outstanding customer experiences, download the whitepaper Quality Management and Your Contact Center.
About Serenova 
Serenova has transformed the customer experience. Over a decade ago, the company realized technology didn’t exist that could deliver immediate, consistent, and exceptional service. So, it created a true cloud contact center solution that could. The result is the ability to unify everything from customer engagement to quality management to analytics. This single source of truth provides global brands insights about customer information and experiences as they pivot between channels such as SMS, voice, or Facebook Messenger.
Whether it’s technology, healthcare, or retail, brands from all industries come to Serenova for its global coverage and deep integrations into the business systems used every day. Why is this important? It creates the opportunity to keep pace with customers by quickly scaling up across the enterprise or out geographically. Serenova is committed to building on an 18-year legacy leading the way in cloud-based contact center innovations. To learn more, visit www.serenova.com. For live updates, follow @SerenovaShine.
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<title>PE-backed Woodstream acquires DynaTrap</title>
<link>https://www.pehub.com/2019/11/pe-backed-woodstream-acquires-dynatrap/</link>
<comments>https://www.pehub.com/2019/11/pe-backed-woodstream-acquires-dynatrap/#respond</comments>
<pubDate>Mon, 18 Nov 2019 19:17:34 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Consumer/Retail]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3606668</guid>
<description><![CDATA[Woodstream Corporation, a portfolio company of Vestar Capital Partners, has acquired Milwaukee-based Dynamic Solutions Worldwide, a maker of DynaTrap insect traps. No financial terms were disclosed.
]]></description>
<content:encoded><![CDATA[Woodstream Corporation, a portfolio company of Vestar Capital Partners, has acquired Milwaukee-based Dynamic Solutions Worldwide, a maker of DynaTrap insect traps. No financial terms were disclosed.
PRESS RELEASE
Lancaster, PA – November 18, 2019 – Woodstream Corporation, a leading manufacturer and marketer of branded pest and animal control product as well as lawn and garden products, today announced that it has acquired Dynamic Solutions Worldwide LLC, maker of DynaTrap insect traps. Terms of the transaction were not disclosed. Woodstream is a portfolio company of Vestar Capital Partners.
Based in Milwaukee, Wisconsin, DynaTrap is a leading provider of insect traps with both indoor and outdoor applications. Introduced in 2006 by Juan Rocha, DynaTrap has grown to be the number-one insect trap company in North America, with its products sold at leading home and hardware retailers including Home Depot, Costco, Sam’s, Bed Bath & Beyond, Amazon, and Ace Hardware, as well as on QVC, HSN and online retailers. DynaTrap’s insect traps, which adhere to the highest quality and safety standards, protect against mosquitoes and other flying insects without the use of pesticides.
“The addition of DynaTrap not only adds a highly regarded and successful product line to Woodstream’s existing offerings, but it also introduces us to additional blue-chip clients which complement our current roster of world-class customers,” said Miguel Nistal, CEO of Woodstream. “Demand for DynaTrap insect traps has never been higher as new and more potent strains of mosquito viruses develop each year. We are excited to welcome the DynaTrap team, and we remain on the lookout for additional strategic acquisitions that will supplement Woodstream’s strong organic growth.”
“Woodstream is the perfect home for DynaTrap,” said Mr. Rocha, DynaTrap president. “There is a natural synergy between our companies, and through this combination, DynaTrap’s products will be introduced to a significant group of new customers. I look forward to helping Miguel and his team integrate the two companies.”
About Woodstream 
Woodstream is a global manufacturer and marketer of a broad portfolio of branded pest control and lawn & garden products, under brands such as Victor®, Terro®, Perky-Pet®, Havahart®, Safer®, Sweeney’s® and Mosquito Magnet®, among others. The company’s products, which have leading market share positions within their respective segments, are sold at more than 100,000 retail locations and to professional pest control providers throughout the United States, Canada, the United Kingdom, and other international markets. For more information, please visit https://www.woodstream.com/.
About Dynamic Solutions Worldwide 
Dynamic Solutions Worldwide designs, manufactures, and markets innovative and environmentally friendly products for the home and the outdoor living environment. The company’s award-winning DynaTrap insect trap is the market leader in the insect control category, protecting against mosquitoes and other flying insects without the use of pesticides. For more information, please visit https://dynatrap.com/
About Vestar Capital Partners 
Vestar Capital Partners is a leading U.S. middle-market private equity firm specializing in management buyouts and growth capital investments. Vestar invests and collaborates with incumbent management teams and private owners to build long-term enterprise value, with a focus on Consumer, Healthcare, and Business Services. Since its founding in 1988, Vestar funds have invested $8 billion of capital in more than 80 investments in companies – as well as more than 200 add-on acquisitions – with a total value of approximately $50 billion. For more information on Vestar, please visit www.vestarcapital.com.
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<title>Vobile buys Zefr’s Rights ID and Channel ID businesses</title>
<link>https://www.pehub.com/2019/11/vobile-buys-zefrs-rights-id-and-channel-id-businesses/</link>
<comments>https://www.pehub.com/2019/11/vobile-buys-zefrs-rights-id-and-channel-id-businesses/#respond</comments>
<pubDate>Mon, 18 Nov 2019 15:58:16 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[M&A]]></category>
<category><![CDATA[Tech]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3606621</guid>
<description><![CDATA[Vobile Inc has acquired Zefr's Rights ID and Channel ID businesses for about $90 million.The acquired businesses focus on content monetization and viewer engagement maximization. Accel-KKR Credit Partners provided the financing for the deal.]]></description>
<content:encoded><![CDATA[Vobile Inc has acquired Zefr‘s Rights ID and Channel ID businesses for about $90 million.The acquired businesses focus on content monetization and viewer engagement maximization. Accel-KKR Credit Partners provided the financing for the deal.
PRESS RELEASE
SANTA CLARA, Calif., Nov. 18, 2019 /PRNewswire/ — Vobile, Inc. (“Vobile”), the market leader in online video content protection and monetization, today announced the successful completion of its acquisition of Zefr’s Rights ID and Channel ID businesses with financing from Accel-KKR Credit Partners, a fund managed by leading technology-focused investment firm, Accel-KKR.
Vobile provides video content protection services to the world’s top entertainment studios and television networks. The acquired Rights ID and Channel ID businesses focus on content monetization and viewer engagement maximization. These businesses share customer bases and use complementary technologies to help content owners maintain full control of their assets on the Internet.
“This is an exciting milestone for Vobile, as we round out the world’s leading video content protection and monetization platform at a time when major media companies are redefining video distribution models with the launch of direct-to-consumer (DTC) subscription services,” said Yangbin Wang, CEO and Founder of Vobile. “Stopping online piracy to minimize subscription revenue loss and leveraging social media influencer marketing to maximize subscriber base are critically important to the success of DTC businesses.”
“This acquisition is strategic and transformative. It will accelerate our revenue growth and lead to long-term success at Vobile,” added Wang. “When selecting a financing partner, we looked for a team who understood the value proposition of the merger and had the ability to execute quickly. Accel-KKR has been committed to the success of the transaction and has taken the time to understand our unique business.”
“At Accel-KKR, we invest in vertically oriented technology businesses that add value to their niche industry,” said Samantha Shows, Managing Director and Head of Credit Investing at Accel-KKR. “In our industry research, we have come to understand that Vobile along with Rights ID and Channel ID are viewed as thought leaders by content owners and production studios. We are pleased to support the acquisition and are excited to see Vobile expand with innovative solutions to help content owners address digital piracy and revenue opportunities.”
About Vobile 
Vobile (SEHK: 3738) is the market leader in online video content protection and monetization. Its best-in-class SaaS platforms are widely used by top entertainment studios and television networks. Its advanced technology solutions enable content owners to reduce infringement-related revenue loss and increase revenue growth in online video distribution. Vobile is headquartered in Santa Clara, California, with additional offices in Los Angeles, New York, Portland, Oregon, Hong Kong, China, Tokyo, London and Melbourne, Australia. For more information, please visit www.vobilegroup.com.
About Accel-KKR 
Accel-KKR is a technology-focused investment firm with over $9 billion in capital commitments. The firm focuses on software and IT-enabled businesses, well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value through significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across a wide range of transaction types including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR is headquartered in Menlo Park with additional offices in Atlanta and London. For more information, please visit www.accel-kkr.com.
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<title>Huron-backed Pueblo acquires Niemeyer</title>
<link>https://www.pehub.com/2019/11/huron-backed-pueblo-acquires-niemeyer/</link>
<comments>https://www.pehub.com/2019/11/huron-backed-pueblo-acquires-niemeyer/#respond</comments>
<pubDate>Mon, 18 Nov 2019 15:47:45 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Business Services]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3606611</guid>
<description><![CDATA[Pueblo Mechanical & Controls, a portfolio company of Huron Capital, has acquired Niemeyer, a provider of commercial plumbing services throughout the greater Phoenix area. No financial terms were disclosed.]]></description>
<content:encoded><![CDATA[Pueblo Mechanical & Controls, a portfolio company of Huron Capital, has acquired Niemeyer, a provider of commercial plumbing services throughout the greater Phoenix area. No financial terms were disclosed.
PRESS RELEASE
DETROIT – Nov. 18, 2019 – Leading lower-middle-market private equity firm Huron Capital announced today that its HVAC installation, retrofit and repair services ExecFactor® platform, Pueblo Mechanical & Controls (“Pueblo”), has acquired Niemeyer Brothers Plumbing, Inc. (“Niemeyer”). Financial terms of the transaction were not disclosed.
Founded in 1986, Niemeyer is a full-service provider of commercial plumbing services throughout the greater Phoenix area. Niemeyer’s suite of commercial capabilities, including expertise in installation and maintenance, will further enhance Pueblo’s service offerings for new and existing customers while growing its staff of professional, qualified technicians. Current company President Rick Niemeyer and Vice President John Niemeyer will maintain their roles within the company to continue to lead and support the plumbing segment of the business.
“The addition of Niemeyer establishes plumbing as an important new service line for Pueblo,” said Pueblo CEO Dan Bueschel. “Niemeyer is a proven provider of commercial plumbing services with a dedicated commitment to quality and performance. Rick and John’s project management experience will be instrumental as we continue to pursue strong, steady growth in our business, and we are thrilled that they will lead the plumbing segment of Pueblo.”
Huron Capital partnered with Dan Bueschel to acquire Pueblo in December 2017 and pursue an ExecFactor® buy-and-build strategy in the commercial HVAC market in the Southwestern United States. This is Pueblo’s sixth acquisition and adds an important service line extension that will benefit customer experience and service.
“The Niemeyers have set the standard for excellence in superior workmanship and unparalleled customer service throughout the greater Phoenix area over the past 33 years,” said Huron Capital Vice President Danielle Lalli. “The addition of Niemeyer will provide Dan and his team with resources and expertise that we expect will help Pueblo to continue to grow as we gain new customers and offer more services to existing customers.
About Huron Capital 
Based in Detroit, Huron Capital is an operationally focused private equity firm with a long history of growing lower middle-market companies through our proprietary ExecFactor® and buy-and-build investment models. We prefer complex situations where we believe we can help companies reach their full potential by combining our operational and strategic resources, substantial capital base, and transaction experience with seasoned operating executives.
Over the past two decades, Huron Capital has successfully established six investment funds totaling approximately $1.8 billion in capital and has completed over 175 transactions throughout North America. Huron Capital portfolio companies have had aggregate annual revenues exceeding $3.0 billion, 15,000 employees and operated over 325 facilities. Huron Capital targets both control and non-control equity stakes in fundamentally sound companies that the firm believes can benefit from its operational approach to creating value. These transactions typically take the form of equity recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs, and management buyouts of companies having revenues up to $200 million. Huron Capital’s sector focus includes business services, consumer products & services and specialty industrials. For more information, please visit: www.huroncapital.com.
About Pueblo Mechanical & Controls 
Pueblo Mechanical & Controls performs a broad offering of HVAC maintenance, replacement, retrofit, repair, and installation services for commercial facilities, school districts, governmental agencies, and municipalities throughout Arizona. The company was founded in 2001 with a focus on delivering the highest-quality execution and customer service. Pueblo has an over 15-year history of consistently performing work while demonstrating honesty, dedication and integrity, resulting in strong, long-lasting customer relationships. For more information, please visit: www.pueblo-mechanical.com.
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<title>Genstar-backed Mercer Advisors buys RIA</title>
<link>https://www.pehub.com/2019/11/genstar-backed-mercer-advisors-buys-ria/</link>
<comments>https://www.pehub.com/2019/11/genstar-backed-mercer-advisors-buys-ria/#respond</comments>
<pubDate>Mon, 18 Nov 2019 15:23:33 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Financial Services]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3606590</guid>
<description><![CDATA[Mercer Global Advisors Inc, which is backed by Genstar Capital, has acquired Camarillo, California-based AL Hewitt, a wealth management firm. No financial terms were disclosed.]]></description>
<content:encoded><![CDATA[Mercer Global Advisors Inc, which is backed by Genstar Capital, has acquired Camarillo, California-based AL Hewitt, a wealth management firm. No financial terms were disclosed.
PRESS RELEASE
DENVER, November 18, 2019 – Mercer Global Advisors Inc. (“Mercer Advisors”), a national Registered Investment Adviser (RIA), today announced the acquisition of AL Hewitt Inc., a respected comprehensive wealth management firm in Camarillo, California serving approximately 120 clients with assets under management (AUM) of $100MM. Hewitt also operates a tax return preparation business preparing over 4,000 tax returns annually, with all financial advisory clients also receiving high quality tax advice with tax return preparation. Hewitt presents a strong value proposition by delivering integrated tax, investment management, and financial planning to its clients.
The addition of Hewitt augments Mercer Advisors’ already strong presence in California to nine offices serving approximately 3,200 clients with nearly $5 billion in AUM, making Mercer Advisors one of the largest RIAs in California alone. The Hewitt acquisition brings Mercer Advisors’ total offices to 45 and increases Mercer Advisors’ total AUM to approximately $17 billion.
Alan and Josette Hewitt, both CFP<img src="https://s.w.org/images/core/emoji/12.0.0-1/72x72/2122.png" alt="™" class="wp-smiley" style="height: 1em; max-height: 1em;" /> and Enrolled Agents (EAs) founded A.V. Tax and Business Services, Inc. (Tax Practice), in 1990. Alan Hewitt founded AL Hewitt, Inc. a fee-only Registered Investment Advisory firm in 2006. Hewitt focuses on delivering comprehensive financial planning and integrated tax advice to their high net worth clientele.
Dave Welling, Chief Executive Officer of Mercer Advisors said, “Alan, Josette and the entire Hewitt team are a great fit for Mercer on multiple levels. They share our conviction in delivering a truly comprehensive solution to our clients including financial planning, investments, tax and estate planning. The Hewitt team deepens our significant presence in California as well as our tax expertise. We look forward to serving all of Hewitt’s clients for years to come.”
Commenting on the transaction, Alan and Josette Hewitt stated: “We had lots of interest in our firm; there was no shortage of potential buyers. After meeting with Dave Barton, Mercer Advisors Vice Chairman heading up mergers and acquisitions, the choice was clear – Mercer Advisors was the perfect fit for us. Dave Barton addressed all our questions and concerns including painting an exciting picture of what the future holds for our team and clients. Succinctly, I had three primary deal criteria and the firm that best answered those questions (and verified through due diligence) would be our new partner. First, we had to share the same business values and put clients’ interests first. Second, the purchase price and terms needed to be fair and competitive. Third, my staff would not only be taken care of but also have career path opportunities beyond what I could offer. Dave Barton addressed each of these three criteria (among many other questions) and Mercer Advisors passed my test with flying colors. We couldn’t be more excited to be joining the Mercer Advisors team.”
David Barton, added, “Alan, Josette, and son Alan “Charles” Hewitt, CFP<img src="https://s.w.org/images/core/emoji/12.0.0-1/72x72/2122.png" alt="™" class="wp-smiley" style="height: 1em; max-height: 1em;" />, ChFC, EA, and their seven (7) other team members are huge additions to Mercer Advisors. We did not only add three quality CFPs to our already deep financial planning bench, but also will significantly scale up our tax division. Alan and their operations manager, Ali Mroue have done a marvelous job of building highly efficient work flows with supportive systems and processes that allow Hewitt to process over 4,000 tax returns annually and that turnkey process will create even greater scale and further leverage our already ample tax consultancy and tax return preparation business. Our family office business model, launched in 2013, has been a huge success and allows Mercer Advisors to stand out in a crowded RIA market and this uniqueness set us apart from other buyers and made Mercer Advisors the right fit for Hewitt.
The value add of providing in-house estate planning, tax return reparation, and corporate trustee advisory services allows our clients to receive fully integrated financial care with different subject matter experts working together – side by side – to provide best in industry advice and results for our approximately 12,000 clients nationwide. Hewitt’s RIA and Tax practice seamlessly integrates into our business model and provides significant lift to our tax capability. This transaction is a great outcome for all parties.”
About Mercer Advisors 
Established in 1985, Mercer Global Advisors Inc. (“Mercer Advisors”) is a total wealth management firm that provides comprehensive, fee-based investment management, financial planning, family office services, retirement benefits and distribution planning, estate and tax planning, asset protection expertise, and corporate trustee and trust administration services. Mercer Advisors is the parent company of Mercer Global Advisors, one of the largest independent Registered Investment Advisors and financial planning firms in the U.S. with approximately $17 billion in client assets. Headquartered in Denver, Mercer Advisors is privately held, has over 390 employees, and operates nationally through 45 offices across the country. For more information, visit www.merceradvisors.com.
Data as of November 14, 2019. AUM includes affiliates and wholly owned subsidiaries.
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<title>Roche to buy VC-backed biotech firm Promedior</title>
<link>https://www.pehub.com/2019/11/roche-to-buy-vc-backed-biotech-firm-promedior/</link>
<comments>https://www.pehub.com/2019/11/roche-to-buy-vc-backed-biotech-firm-promedior/#respond</comments>
<pubDate>Fri, 15 Nov 2019 15:39:16 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Healthcare]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3606467</guid>
<description><![CDATA[Roche has agreed to acquire Lexington, Massachusetts-based Promedior, a biotech company. According to terms of the agreement, Roche will make an upfront cash payment of $390 million. Promedior's backers include Morgenthaler Ventures, HealthCare Ventures, Forbion, Easton Capital, Fibrotec Ventures and Polaris Partners.]]></description>
<content:encoded><![CDATA[Roche has agreed to acquire Lexington, Massachusetts-based Promedior, a biotech company. According to terms of the agreement, Roche will make an upfront cash payment of $390 million. Promedior’s backers include Morgenthaler Ventures, HealthCare Ventures, Forbion, Easton Capital, Fibrotec Ventures and Polaris Partners.
PRESS RELEASE
LEXINGTON, Mass., Nov. 15, 2019 /PRNewswire/ — Promedior, Inc., today announced that it has entered into a definitive merger agreement for Roche (SIX: RO, ROG;OTCQX: RHHBY) to acquire Promedior. With this acquisition, Roche will obtain full rights to Promedior’s entire portfolio of molecules for serious fibrotic diseases, notably PRM-151.
Promedior, a privately held clinical-stage biotechnology company based in Lexington, Massachusetts, has successfully advanced PRM-151 in human clinical trials and received Breakthrough Therapy Designation from the FDA earlier this year for idiopathic pulmonary fibrosis (IPF). PRM-151, a recombinant form of human pentraxin-2 (PTX-2) protein, has demonstrated both prevention and reversal of fibrosis and opens up new opportunities to treat a wide range of systemic fibrotic diseases. Phase 2 trial results demonstrated that PRM-151 is the first molecule to show significant lung function improvements on top of current therapies in IPF. PRM-151 has also shown promising early clinical trial data in myelofibrosis (MF) and its anti-fibrotic mechanism has therapeutic potential in other fibrotic diseases.
Jason Lettmann, Chief Executive Officer of Promedior and General Partner of Lightstone Ventures, said: “With over a decade of research, development and investment, Promedior has demonstrated the unique ability of its pentraxin-2 platform to deliver disease-modifying potential in fibrotic disorders. Due to Roche’s strong expertise in IPF, hematological cancer and other fibrotic disorders, we believe Roche is ideally positioned to bring the potential of our platform to patients and provide new treatment options within these areas of urgent unmet medical need.”
“We are excited to combine Promedior’s portfolio with our drug development capabilities to further advance PRM-151 in fibrotic diseases, including IPF and MF,” said James Sabry, M.D., Ph.D., global head of Roche Pharma Partnering. “With our proven track record in IPF with Esbriet<img src="https://s.w.org/images/core/emoji/12.0.0-1/72x72/2122.png" alt="™" class="wp-smiley" style="height: 1em; max-height: 1em;" /> as well as in hematological cancers, we are well-positioned to leverage our clinical and commercial expertise to bring PRM-151 to patients as fast as possible.”
The Pentraxin-2 Platform 
Fibrosis is a common pathway that can affect nearly all tissues and organ systems, including lung, kidney, liver, bone marrow, and the eye. Despite a large unmet medical need, there are few approved, disease-modifying therapies available to treat these systemic fibrotic diseases. Promedior’s drug candidates are based on Pentraxin-2 which is an endogenous human protein that is specifically active at the site of tissue damage. PTX-2 works as an agonist that acts as a macrophage polarization factor to initiate a resolution process for prevention and potential reversal of fibrosis, thereby acting as a master regulator upstream in the fibrosis cascade. Extensive studies conducted by Promedior and its collaborators have confirmed this ability of pentraxin-2 therapeutics to act as upstream agonists across many major tissue types and in several models of fibrotic disease, strongly supporting its potential as a novel anti-fibrotic agent.
Transaction Terms and Approvals 
Under the terms of the merger agreement, Roche will make an upfront cash payment of USD 390 million, plus additional contingent payments of up to USD 1 billion based on the achievement of certain predetermined development, regulatory and commercial milestones.
The closing of the transaction is subject to the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other customary conditions.
About PRM-151 
PRM-151, Promedior’s lead product candidate, has shown broad anti-fibrotic activity in multiple preclinical models of fibrotic disease, including pulmonary fibrosis, myelofibrosis, acute and chronic nephropathy, liver fibrosis, and age-related macular degeneration. As published in JAMA in 2018, the randomized Phase 2 study in IPF demonstrated that PRM-151 slowed the decline of lung function and stabilized 6-minute walk distance which suggested potential benefit in overall functional decline. The open-label extension data published in Lancet Respiratory Medicine in 2019 further demonstrated evidence of a sustained benefit out to 76 weeks. Positive data from the Phase 2 study in MF highlighted PRM-151’s ability to reduce bone marrow fibrosis and was recently presented at the 2019 European Hematology Association Congress.
About Idiopathic Pulmonary Fibrosis (IPF) 
Idiopathic pulmonary fibrosis (IPF) is a progressive, irreversible and ultimately fatal disease characterized by progressive loss of lung function due to fibrosis (scarring) in the lungs, which hinders the ability of lungs to absorb oxygen. IPF inevitably causes shortness of breath, and a deterioration in lung function and exercise tolerance. IPF patients follow different and unpredictable clinical courses and it is not possible to predict if a patient will progress slowly or rapidly, or when the rate of decline may change. Current therapies slow the decline in FVC but are limited in their ability to improve function or halt disease progression. The median survival time from diagnosis is two to three years which makes IPF more rapidly lethal than many malignancies, including breast, ovarian and colorectal cancers.
About Myelofibrosis (MF) 
Myelofibrosis (MF), a type of myeloproliferative neoplasm, is a serious, life-limiting cancer that is characterized by fibrosis of the bone marrow. Replacement of the bone marrow by scar tissue prevents the normal production of blood cells, leading to anemia, fatigue, and increased risk of bleeding and infection. Production of blood cells shifts to the spleen and liver (extramedullary hematopoiesis), which become enlarged, causing severe discomfort, inability to eat, and weakness. The only potentially curative treatment is allogeneic bone marrow transplant while other currently available therapies address the symptoms but have minimal if any impact on the underlying fibrosis.
About Promedior 
Promedior is a clinical stage biotechnology company pioneering the development of targeted therapeutics to treat diseases involving fibrosis. Promedior has successfully advanced its lead therapeutic candidate in human clinical trials and is initially focused on rare fibrotic diseases, including idiopathic pulmonary fibrosis and myelofibrosis. Promedior is backed by leading global healthcare venture investors including Morgenthaler Ventures, HealthCare Ventures, Forbion, Easton Capital, Fibrotec Ventures, and Polaris Partners and has a significant intellectual property estate relating to the discoveries and applications of pentraxin-2 therapeutics.
Additional information is available at www.promedior.com.
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<title>PE-backed Reconstruction Experts buys ARSM</title>
<link>https://www.pehub.com/2019/11/pe-backed-reconstruction-experts-buys-arsm/</link>
<comments>https://www.pehub.com/2019/11/pe-backed-reconstruction-experts-buys-arsm/#respond</comments>
<pubDate>Fri, 15 Nov 2019 15:25:46 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Industrial/Manufacturing]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3606465</guid>
<description><![CDATA[Reconstruction Experts Inc, a portfolio company of Linx Partners, has acquired Fort Myers, Florida-based Advanced Roofing & Sheet Metal, a provider of roofing and HVAC services and solutions serving multitenant housing developments in Southwest Florida. No financial terms were disclosed. Mesirow Financial served as financial adviser to ARSM on the transaction.]]></description>
<content:encoded><![CDATA[Reconstruction Experts Inc, a portfolio company of Linx Partners, has acquired Fort Myers, Florida-based Advanced Roofing & Sheet Metal, a provider of roofing and HVAC services and solutions serving multitenant housing developments in Southwest Florida. No financial terms were disclosed. Mesirow Financial served as financial adviser to ARSM on the transaction.
PRESS RELEASE
CHICAGO, Nov. 14, 2019 /PRNewswire/ — Mesirow Financial acted as the exclusive financial advisor to Advanced Roofing & Sheet Metal (“ARSM” or the “Company”) on its sale to Reconstruction Experts Inc. (“RE”), a portfolio company of Linx Partners (“Linx”).
Based in Fort Myers, FL, ARSM is a leading provider of roofing and HVAC services and solutions primarily serving multi-tenant housing developments in Southwest Florida. The Company is a leader in its served markets and the combination of ARSM’s capabilities and RE’s diverse offerings brings significant opportunities and value to each company’s customer base.
Mike Shephard, owner of ARSM, commented on the transaction, “Mesirow did everything they said they would do- assisted us in the evaluation of strategic alternatives, found a partner that fits culturally and preserves a great legacy for ARSM and executed a smooth and complete process that achieved my personal and professional goals.”
Rocky Pontikes, managing director of Mesirow Financial’s Investment Banking group, said, “We were honored to represent ARSM on its sale to RE and Linx. We believe the combination of ARSM and RE is highly strategic and our process ultimately found the best partner for ARSM’s customers and employees.”
The transaction represents another successful assignment completed by Mesirow Financial’s Investment Banking group. With extensive sector-specific expertise and deep long-standing relationships, Mesirow Financial’s team has a proven track record of completing successful transactions.
About Advanced Roofing and Sheet Metal 
Founded in 1980, ARSM has grown into a full-service provider of top-quality roofing services, including full installations, maintenance, upgrades and emergency response services. The Company has established itself as a reputable brand recognized for its commitment to quality and customer satisfaction and is viewed as the “go-to” roofing services partner of choice for property managers and condominium HOAs in its markets. To learn more, please visit advancedroofingandsheetmetal.com.
About Reconstruction Experts Inc. 
Reconstruction Experts, Inc. provides specialized property services to homeowners’ associations and other property owners through eight offices in Colorado, California and Texas. RE’s service offering includes construction defect services, specialty construction services and insurance / emergency services for occupied residential and commercial developments. To learn more, please visit reconstructionexperts.net.
About Linx Partners 
Linx Partners is a lower middle market private equity firm headquartered in Atlanta, GA. Linx targets investments in U.S.-based companies operating in the business services, manufacturing and logistics sectors. Linx focuses on investing in companies with annual revenues between $20 million and $100 million. To learn more, please visit linxpartners.com.
About Mesirow Financial 
Mesirow Financial is an independent, employee-owned firm founded in 1937. As specialists in investment, risk management and advisory services, we are committed to helping our institutional, corporate and individual clients achieve their objectives. Our professionals are inspired by an entrepreneurial desire to develop tailored solutions that deliver measurable results. To learn more, please visit mesirowfinancial.com.
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<title>Audax-backed PlayMonster buys Kahootz Toys assets</title>
<link>https://www.pehub.com/2019/11/audax-backed-playmonster-buys-kahootz-toys-assets/</link>
<comments>https://www.pehub.com/2019/11/audax-backed-playmonster-buys-kahootz-toys-assets/#respond</comments>
<pubDate>Fri, 15 Nov 2019 15:20:42 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Consumer/Retail]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3606458</guid>
<description><![CDATA[PlayMonster LLC, which is backed by Audax Private Equity, has acquired the assets of Ann Arbor, Michigan-based Kahootz Toys, a kids arts and crafts company. No financial terms were disclosed.]]></description>
<content:encoded><![CDATA[PlayMonster LLC, which is backed by Audax Private Equity, has acquired the assets of Ann Arbor, Michigan-based Kahootz Toys, a kids arts and crafts company. No financial terms were disclosed.
PRESS RELEASE
BELOIT, WI, Nov. 14, 2019 /PRNewswire/ — PlayMonster LLC has taken its next big step in solidifying its fast growth as a multi-category toy and game company by acquiring the assets of the kids arts and crafts company, Kahootz Toys, based in Ann Arbor, MI. Kahootz Toys is the company behind 17 award-winning brands including Y’ART®, SPIROGRAPH®, COLORFORMS®, FASHION PLATES®, LATCHKITS®, PLAY-DOH® and WATERFULS®.
Kahootz, founded in 2012, grew quickly with several programs, including the relaunch of the iconic brand Spirograph, under license with Hasbro. Today that brand stands as one of the strongest performers in the category. More recently, the company has experienced great success with other classic brands like Colorforms in partnership with 9 Story Entertainment, and the girls’ favorite Fashion Plates. This year the company was excited to be awarded the ASTRA Best Toys for Kids award, and is a TOTY finalist for Creative Toy of the Year with a new line, Y’ Art, where kids can “color with yarn”!
Over the past few years, PlayMonster has made several acquisitions to strengthen their position in the toy industry, and Kahootz Toys was a natural fit with its commitment to classic and quality play, an initiative PlayMonster strives for, to meet the needs of today’s consumers.
Bob Wann, Chief PlayMonster of PlayMonster LLC said, “This is PlayMonster’s largest acquisition to-date and we’re thrilled to continue our multi-category growth strategy building and adding classic brands while expanding our footprint in the activity and stationery aisles. Kahootz has shown a commitment to providing innovative products to kids of all ages, and this philosophy aligns with our mission to make a positive difference in people’s lives through the power of play. Their team has done an outstanding job, and with our help, will continue to grow the Kahootz brand at retail.”
“We are very excited to be joining PlayMonster and the Audax Private Equity family of companies,” said Joe Yassay, CEO and founding partner of Kahootz Toys. “The addition of our products to PlayMonster’s already impressive portfolio of children’s toys and games is a win-win for everyone involved–our companies, licensors, suppliers and customers. We look forward to helping PlayMonster champion the power of play by supporting continued growth and market penetration in the mass, specialty and international marketplaces.”
Bambini Partners, LLC acted as Special Advisors to Kahootz Toys in connection with this transaction.
About PlayMonster LLC 
Beloit, WI-based PlayMonster is a toy and game company that believes in the power of play to make a positive difference in people’s lives. Delivering great play value by designing, manufacturing and marketing innovative, fun products such as “TOTY Game of the Year” Yeti in My Spaghetti® and “TOTY Doll of the Year” Wonder Crew®, along with other award-winning toys and games like The Game of THINGS…®, 5 Second Rule®, Relative Insanity®, Mirari®, Farkle, SET® games, OK to Wake!®, My Fairy Garden®, Automoblox®, Marbleocity®, Kid O® and Super Spinner® is how PlayMonster helps keep play alive for all ages.
About Kahootz Toys 
Kahootz Toys has been on a mission to use our skills and passions to bring great kids’ products to the world, founding our company with an award-winning relaunch of the classic brand, Spirograph® in 2013. Since then, we’ve successfully launched a broad portfolio of children’s toy, craft and activity products, including Fashion Plates® fashion drawing sets, Colorforms® playsets, Latchkits®, Y-Art<img src="https://s.w.org/images/core/emoji/12.0.0-1/72x72/2122.png" alt="™" class="wp-smiley" style="height: 1em; max-height: 1em;" /> yarn crafts, and many others. Kahootz believes in “Retro Fun for Everyone”!
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<title>PE-backed BHI Energy buys Plaska</title>
<link>https://www.pehub.com/2019/11/pe-backed-bhi-energy-buys-plaska/</link>
<comments>https://www.pehub.com/2019/11/pe-backed-bhi-energy-buys-plaska/#respond</comments>
<pubDate>Wed, 13 Nov 2019 15:46:57 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Business Services]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3606168</guid>
<description><![CDATA[BHI Energy, a portfolio company of AE Industrial Partners LP, has acquired Amarillo, Texas-based Plaska Transmission Line Construction LLC, a electrical contractor providing distribution, transmission, and storm restoration services for customers throughout Texas, Arizona, Kansas, New Mexico, and Oklahoma. No financial terms were disclosed.]]></description>
<content:encoded><![CDATA[BHI Energy, a portfolio company of AE Industrial Partners LP, has acquired Amarillo, Texas-based Plaska Transmission Line Construction LLC, a electrical contractor providing distribution, transmission, and storm restoration services for customers throughout Texas, Arizona, Kansas, New Mexico, and Oklahoma. No financial terms were disclosed.
PRESS RELEASE
WEYMOUTH, Mass., Nov. 13, 2019 /PRNewswire/ — BHI Energy (“BHI”) today announced that it has acquired Plaska Transmission Line Construction, LLC (“Plaska” or the “Company”), a fully licensed electrical contractor providing distribution, transmission, and storm restoration services for customers throughout Texas, Arizona, Kansas, New Mexico, and Oklahoma. BHI is a portfolio company of AE Industrial Partners, LP (“AEI”), a private equity firm specializing in Aerospace, Defense & Government Services, Power Generation, and Specialty Industrial markets. Terms of the transaction were not disclosed.
Based in Amarillo, TX, Plaska specializes in installation, repair and maintenance services on overhead electrical power lines for utilities and industrial companies, as well as storm response. The Company also performs electric distribution construction work. Plaska’s senior management team remains with the Company.
“The acquisition of Plaska allows BHI to geographically expand our transmission & distribution service offerings, delivering optimal solutions and greater value to our clients,” says Bob Decensi, BHI Chief Executive Officer. “Plaska has a superior reputation for dependable electrical contracting and major development projects, and is well-known for its commitment to safety, quality, customer service, and employees. By partnering with the Plaska team, we are confident we can build on their tradition of excellence and grow our overall suite of service offerings.”
“The Plaska management team is excited to join BHI, and continue our growth and success in the transmission & distribution services industry with a new partner,” added Greg Jackson, Plaska President. “We have long been an industry leader in providing safe and reliable services to our customers, and we’re pleased to serve new customers with an expanded presence throughout the Central US and Gulf Coast as part of BHI.”
Akerman LLP served as legal advisor and Crowe LLP served as financial advisor to BHI.
About BHI 
Serving the power industry for 40 years, BHI is a leading maintenance and specialty services provider, focused on integrated services from the point of generation through the entire electrical delivery system to the residential meter. BHI has a peak workforce of more than 8,000 employees globally. BHI’s comprehensive services include Transmission & Distribution Services, and Specialty Maintenance & Modification Services to the power generation industry. www.bhienergy.com
About Plaska 
Plaska specializes in installing, repairing and performing maintenance services on electrical power lines, with a safe, efficient, value-driven electrical contracting model. With tens of thousands of miles of transmission lines set in place, Plaska has safely built and maintained transmission configurations of virtually every size, with transmission construction from 69kV to 345kV; hot stick energized work; and bare hand capabilities up to 230kV. The Company also maintains all types of electrical transmission & distribution systems, substations and switchyards, and also provides emergency storm response and restoration. www.plaskacontractors.com
About AE Industrial Partners 
AE Industrial Partners is a private equity firm specializing in Aerospace, Defense & Government Services, Power Generation, and Specialty Industrial markets. AE Industrial Partners invests in market-leading companies that can benefit from its deep industry knowledge, operating experience, and relationships throughout its target markets. Learn more at www.aeroequity.com.
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<title>PE-backed Summit Companies acquires Mac Systems</title>
<link>https://www.pehub.com/2019/11/pe-backed-summit-companies-acquires-mac-systems/</link>
<comments>https://www.pehub.com/2019/11/pe-backed-summit-companies-acquires-mac-systems/#respond</comments>
<pubDate>Wed, 13 Nov 2019 15:43:37 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Business Services]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3606167</guid>
<description><![CDATA[Summit Companies, which is backed by CI Capital Partners, has acquired Oklahoma-based Mac Systems Inc, a provider of fire and life safety services. No financial terms were disclosed.]]></description>
<content:encoded><![CDATA[Summit Companies, which is backed by CI Capital Partners, has acquired Oklahoma-based Mac Systems Inc, a provider of fire and life safety services. No financial terms were disclosed.
PRESS RELEASE
MENDOTA HEIGHTS, Minn., Nov. 13, 2019 /PRNewswire/ — Summit Companies (“Summit”), a premier fire and life safety company, announced the acquisition of Mac Systems, Inc. by Summit subsidiary, A-1 National Fire Co. The acquisition of Mac Systems, of Oklahoma City and Tulsa, Oklahoma, is a strategic expansion of Summit’s existing fire protection, life safety, and consulting business to the state of Oklahoma.
Through its subsidiaries, Summit now operates branches in the states of Arizona, Iowa, Michigan, Minnesota, Nebraska, Nevada, North Dakota, Oklahoma, South Dakota, Texas, Utah and Wisconsin.
Summit’s approach to acquisitions is centered on organizational alignment to ensure the continued success of both employees and customers. “Mac Systems is a well-established business with excellent teams, and it was clear from the beginning that they will be a great addition to our growing business,” stated Jeff Evrard, CEO of Summit Companies.
Mac Systems has served Oklahoma City and Tulsa with fire and life safety services since 1989. Drake McDannold of Mac Systems stated, “Mac Systems was built on a culture of hard work and excellence, with a customer-first approach. Summit approaches business the same way, and I am confident our customers will continue to receive great service while getting access to more resources and offerings. Our employees will have a great future ahead of them as they join the Summit team.”
Summit’s expansion into Oklahoma reflects the execution of a long-term strategy in the Southern and Southwestern region of the United States. In August 2018, Summit established a presence in Nevada through the add-on acquisition of A-1 National Fire Co. Through it’s a-1 National Fire Co. subsidiary, Summit then established and broadened its presence in Texas, Nevada, and Utah with add-on acquisitions. Mac Systems’ business in and around the key cities of Tulsa and Oklahoma City will complement this growing regional capability in the South-Southwest.
“We are pleased to expand the A-1 National Fire footprint into the greater heartland of our country. Following recent acquisitions in Texas, we are excited to enter Oklahoma and continue our expansion to better serve customers throughout the Southern and Southwestern United States,” stated Nic Brown, SVP of A-1 National Fire Co.
Summit Companies has completed 30 add-on acquisitions under the ownership of CI Capital Partners, a leading North American private equity investment firm. “Jeff Evrard and the Summit management team have expanded the company’s geographic coverage very carefully through strategic acquisitions,” said Timothy Hall, Managing Director of CI Capital Partners. “We look forward to continuing to support Summit’s growth.”
ABOUT SUMMIT COMPANIES 
Summit Companies is a premier fire and life safety company with an expanding national presence in the United States. The company has expertise across the entire spectrum of fire and life safety categories, including: fire extinguishers; extinguishing agents; pre-engineered kitchen, industrial and vehicle suppression systems; special hazard suppression systems; fire sprinkler systems; fire alarm systems; and security monitoring systems. In addition to its commitment to the design, installation, maintenance, and monitoring of these fire and life safety systems, Summit Companies is also engaged in the practice of fire protection engineering and risk management consultancy. Summit’s success is driven by its people. The company is a culture-first organization committed to client service, diversity of capabilities, and technical excellence. Summit Companies is owned by management and CI Capital Partners. Learn more at: www.SummitCoUS.com
ABOUT CI CAPITAL PARTNERS 
CI Capital Partners LLC is a leading North American private equity investment firm that has invested in middle-market companies since 1993. CI Capital forms partnerships with experienced management teams and entrepreneurs to build substantial businesses through add-on acquisitions, organic growth, and operational improvements. Since inception, CI Capital and its portfolio companies have made over 340 acquisitions representing approximately $10 billion in enterprise value. For more information on CI Capital Partners, please visit www.cicapllc.com.
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<title>Merck buys Calporta for $576 mln</title>
<link>https://www.pehub.com/2019/11/merck-buys-calporta-for-576-mln/</link>
<comments>https://www.pehub.com/2019/11/merck-buys-calporta-for-576-mln/#respond</comments>
<pubDate>Wed, 13 Nov 2019 15:38:40 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Healthcare]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3606162</guid>
<description><![CDATA[Merck has acquired Calporta Therapeutics, a portfolio company of COI Pharmaceuticals, which is backed by Avalon Ventures. The purchase price was $576 million. Calporta is developing selective small molecule agonists of TRPML1.
]]></description>
<content:encoded><![CDATA[Merck has acquired Calporta Therapeutics, a portfolio company of COI Pharmaceuticals, which is backed by Avalon Ventures. The purchase price was $576 million. Calporta is developing selective small molecule agonists of TRPML1.
Correction: The previous headline and news report of this deal was incorrect. Merck acquired Calporta. The information has since been rectified. 
PRESS RELEASE
SAN DIEGO–(BUSINESS WIRE)–COI Pharmaceuticals, the Community Of Innovation established by Avalon Ventures, today announced the acquisition of Calporta Therapeutics, Inc. by Merck, known as MSD outside the United States and Canada. Calporta develops selective small molecule agonists to TRPML1. TRPML1 is believed to play a role in lysosomal function by promoting autophagy and lysosomal exocytosis. Calporta’s preclinical stage TRPML1 agonists are being evaluated for their potential to treat various lysosomal storage and neurodegenerative disorders, including Alzheimer’s and Parkinson’s disease.
Merck acquired Calporta for total potential consideration of up to $576 million, including an upfront payment and contingent milestone payments.
“This agreement with Merck is an important milestone towards the rapid development of a novel therapeutic approach that could help millions of people with degenerative disorders caused by toxic accumulation of proteins, fats, or other cellular macromolecules,” said Sanford J. Madigan, Ph.D., CEO of Calporta and senior vice president, business development of COI Pharmaceuticals. “I am proud of the Calporta team for their expertise, execution, and diligence in swiftly advancing a new scientific breakthrough toward the clinic.”
“Increasing evidence points to the accumulation of toxic proteins as a common mechanism in neurodegenerative conditions such as Parkinson’s disease, amyotrophic lateral sclerosis (ALS) and Alzheimer’s,” said Fiona Marshall, PhD., vice president, neuroscience discovery Merck Research Laboratories. “We look forward to conducting further research to evaluate the potential of TRPML1 agonists to activate a natural clearance mechanism the brain employs to clear toxic proteins.”
TRPML1 (transient receptor potential cation channel, mucolipin subfamily) is an important lysosomal ion channel and a known regulator of autophagy. The lysosome is a cellular compartment involved in the break down and recycling of cellular waste products, such as fats, proteins, and other macromolecules. Alterations in TRPML1 function have been implicated in several neurodegenerative diseases and dystrophies, where intracellular accumulation of proteins or fats have been shown to be toxic to the cell. Activating TRPML1 signaling with small molecules could reestablish lysosomal processes and restore cellular function.
“We review thousands of research papers annually for early-stage, breakthrough discoveries that have important therapeutic potential,” said Jay Lichter, Ph.D., managing director of Avalon Ventures and president and CEO of COI Pharmaceuticals. “As early as 2014, our scientists identified TRPML1 as an important target for improving lysosomal function. We saw the potential to treat a number of diseases by activating this ion channel, and we launched Calporta in early 2015. Now four years later, we have an agreement with Merck, an industry leader in biopharmaceutical research and development, which is key to advancing these therapies to clinical trials and patients.”
About COI Pharmaceuticals 
COI Pharmaceuticals is an unconventional venture-pharma entity that provides life science inventors with an environment where entrepreneurial and scientific risks are encouraged and rewarded. This Community of Innovation (COI) was established in 2013 to support Avalon portfolio companies. COI provides the intellectual capital to launch companies, a fully-equipped R&D infrastructure and industry mentors prepared to leverage their expertise to help entrepreneurial scientists succeed. COI is located in La Jolla, California. For more information, please visit: http://www.coipharma.com/.
About Avalon Ventures 
Avalon Ventures is a venture capital firm that has founded and/or funded more than 127 information technology and life sciences companies. The firm is passionate about backing talented entrepreneurs seeking to build market-leading companies. Throughout the firm’s 32-year tenure, Avalon’s long-standing and successful focus has been on seed and early-stage companies. All Avalon partners are seasoned entrepreneurs with experience in company formation, operations and value creation in the life science and tech sectors. Avalon’s current fund, launched in 2015, continues the firm’s tradition of pursuing disruptive ideas in ever changing markets. For more information, please visit: http://www.avalon-ventures.com/
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<title>Endeavor Business Media buys Informa’s industry and infrastructure media brands</title>
<link>https://www.pehub.com/2019/11/endeavor-business-media-buys-informas-industry-and-infrastructure-media-brands/</link>
<comments>https://www.pehub.com/2019/11/endeavor-business-media-buys-informas-industry-and-infrastructure-media-brands/#respond</comments>
<pubDate>Tue, 12 Nov 2019 20:02:39 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[M&A]]></category>
<category><![CDATA[Tech]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3606100</guid>
<description><![CDATA[Endeavor Business Media, a portfolio company of Resolute Capital Partners, has acquired Informa's industry & infrastructure and auto aftermarket media brands. No financial terms were disclosed. JEGI | CLARITY represented Informa on the deal.]]></description>
<content:encoded><![CDATA[Endeavor Business Media, a portfolio company of Resolute Capital Partners, has acquired Informa‘s industry & infrastructure and auto aftermarket media brands. No financial terms were disclosed. JEGI | CLARITY represented Informa on the deal.
PRESS RELEASE
New York, NY, November 11, 2019 – Endeavor Business Media has announced the acquisition of a number of Informa’s Industry & Infrastructure and Auto aftermarket media brands, expanding its position as one of the fastest growing B2B companies.
JEGI | CLARITY (www.jegiclarity.com), the leading independent investment bank for the global media, information, marketing, software and tech-enabled services sectors, with offices in New York, Boston, London and Sydney, represented Informa in this transaction.
With a committed focus on delivering exceptional content and business opportunities, these Informa brands will join Endeavor’s complementary portfolio of brands and events to create new multi-channel platforms for its audience and advertisers.
“Endeavor is very excited about bringing the Industry & Infrastructure Intelligence and Auto Aftermarket media brands into the business to expand what we are already offering in these growing markets. We look forward to investing in these brands to take them to the next level for long-term sustainable success, leveraging Endeavor’s platform-wide strengths in print, digital, events and marketing solutions,” said Chris Ferrell, CEO of Endeavor Business Media.
“We are confident that the alignment of Informa and Endeavor’s brands in these markets will provide greater scale and innovative new opportunities for clients and audiences alike. Endeavor’s culture and organizational structure based in a data-informed, customer-first philosophy will create a compelling market advantage and new opportunities for the whole portfolio. With Endeavor’s investment in new and cutting-edge products and services, this opportunity to bring aligned marketing services capabilities and talent from Informa to Endeavor will be a great fit for all,” commented Sue Boehlke, President at Informa Intelligence.
With this acquisition Endeavor Business Media now has 600 employees that produce 80+ brands, 59 live events and 50+ innovative marketing solutions that drive awareness and conversion.
The acquisition of these top brands advances the company’s initiative of actively growing and investing in high quality B2B media brands that deliver excellent content and uniquely valuable experiences for its audiences and partners.
About Informa 
Informa PLC Informa is a leading international Exhibitions, Events, Information Services and Scholarly Publishing Group with annual revenues approaching £3 billion. It helps commercial, professional and academic communities work smarter and make better decisions faster, through specialist content and intelligence, and opportunities to connect and learn. For more information, visit www.informa.com.
About Endeavor Business Media 
Headquartered in Nashville, TN, Endeavor Business Media, LLC was formed in late 2017 to acquire and operate trade publications, websites and events. The company targets B2B audiences in the accounting, aviation, dental, facilities maintenance, fire & public safety, industrial, technology, medical, oil & gas, public services, security, construction, vehicle repair, vending, and water & wastewater market. The company has offices in Nashville, Tennessee; Tulsa, Oklahoma; Nashua, New Hampshire; Birmingham, Alabama; Sarasota, Florida; Skokie, Illinois; Fort Atkinson, Wisconsin; Akron, Ohio and Santa Barbara, California. For more information, visit www.endeavorbusinessmedia.com
About JEGI | CLARITY 
JEGI | CLARITY is the leading independent investment bank for the global media, information, marketing, software and tech-enabled services sectors. With offices in London, Sydney, New York and Boston, we have closed more than 700 transactions during our 30+ year history. For more information, visit www.jegiclarity.com.
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<title>PE-backed THG acquires G&N</title>
<link>https://www.pehub.com/2019/11/pe-backed-thg-acquires-gn/</link>
<comments>https://www.pehub.com/2019/11/pe-backed-thg-acquires-gn/#respond</comments>
<pubDate>Tue, 12 Nov 2019 15:49:44 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Financial Services]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3606034</guid>
<description><![CDATA[The Hilb Group, a portfolio company of Abry Partners, has acquired Massachusetts-based G&N Insurance, a property and casualty insurance agency. No financial terms were disclosed.]]></description>
<content:encoded><![CDATA[The Hilb Group, a portfolio company of Abry Partners, has acquired Massachusetts-based G&N Insurance, a property and casualty insurance agency. No financial terms were disclosed.
PRESS RELEASE
RICHMOND, Va., Nov. 12, 2019 The Hilb Group, LLC (“THG”) announced today the acquisition of Massachusetts-based Gould & Naimoli Partners, LLC/G&N Insurance (“G&N”). The transaction became effective November 1, 2019.
G&N is a property & casualty insurance agency primarily providing personal lines insurance to real estate owners in the New England area. Founded in 2010 by agency leaders, Zack Gould and Matt Naimoli, G&N was recognized as one of the fastest growing private companies by Inc. Magazine for the past three years. G&N will continue to operate out of its Southborough, Massachusetts location under the leadership of Gould and Naimoli.
“As a rapidly growing agency, we are looking forward to the added capabilities we will have as part of THG,” said Naimoli. “Leveraging THG’s platform will provide G&N and our team more opportunities for growth and our clients with better, more expansive service than ever before.”
“G&N possesses everything THG looks for in a new partner,” said Ricky Spiro, CEO of THG. “Its focus on core values, infectious work ethic, and strong organic growth model all make for a great fit.”
“Matt and I are extremely proud of the culture we have fostered at G&N,” said Gould. “We could not be more excited to find a partner with like-minded values and a similar approach to client service.”
About the Hilb Group: The Hilb Group is a leading middle market insurance agency headquartered in Richmond, Virginia and is a portfolio company of Boston-based private equity firm, Abry Partners. The Hilb Group seeks to grow through targeted acquisitions in the middle market insurance brokerage space. The company now has over 90 offices in 21 states. Please visit our website at: http://hilbgroup.com.
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<title>IPKeys acquires N-Dimension</title>
<link>https://www.pehub.com/2019/11/ipkeys-acquires-n-dimension/</link>
<comments>https://www.pehub.com/2019/11/ipkeys-acquires-n-dimension/#respond</comments>
<pubDate>Tue, 12 Nov 2019 15:44:39 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[M&A]]></category>
<category><![CDATA[Tech]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3606028</guid>
<description><![CDATA[IPKeys Power Partners has acquired Ontario-based N-Dimension Solutions Inc, a provider of cybersecurity monitoring. No financial terms were disclosed. EnerTech Capital, a venture firm that has offices in a number of cities that include Toronto, Philadelphia, Montreal and Calgary, made an equity investment in IPKeys as part of the transaction. No financial terms were disclosed. England & Company advised IPKeys on the deal.]]></description>
<content:encoded><![CDATA[IPKeys Power Partners has acquired Ontario-based N-Dimension Solutions Inc, a provider of cybersecurity monitoring. No financial terms were disclosed. EnerTech Capital, a venture firm that has offices in a number of cities that include Toronto, Philadelphia, Montreal and Calgary, made an equity investment in IPKeys as part of the transaction. No financial terms were disclosed. England & Company advised IPKeys on the deal.
PRESS RELEASE
TINTON FALLS, N.J., Nov. 12, 2019 /PRNewswire/ — IPKeys Power Partners, a leading provider of integrated technology solutions for intelligent utilities and smart cities, today announced that it has acquired N-Dimension Solutions Inc., the public power sector leader in cyber security monitoring with over 100 utilities served. Ontario based N-Dimension will merge into the IPKeys platform while continuing to serve current customers. The transaction included an equity investment in IPKeys by EnerTech Capital, a venture capital firm focused on energy innovation and technology in areas including Network/Grid Edge, Industry 4.0 and Mobility.
The acquisition adds a robust cyber threat detection and remediation capability to IPKeys’ existing Cyber Lab as a Service (IPKeys CLaaS<img src="https://s.w.org/images/core/emoji/12.0.0-1/72x72/2122.png" alt="™" class="wp-smiley" style="height: 1em; max-height: 1em;" />) which provides a broad range of cybersecurity services and solutions to utilities and large municipal and public safety organizations throughout North America. Earlier this year IPKeys Power Partners acquired SigmaFlow to add an automated NERC-CIP compliance capability to their CLaaS offering.
“The integration of N-Dimension into our CLaaS platform enables IPKeys to provide customers with a more robust and comprehensive cybersecurity solution,” said Robert Nawy CEO, IPKeys. “The investment by EnerTech is especially advantageous because of their proven ability to also provide strategic support and exposure to their influential network of strategic partners.”
IPKeys originally developed the CLaaS platform for U.S. Federal & Department of Defense (DOD) agencies & contractors after providing over 10 years of advanced cyber security and information assurance services in support of the certification and accreditation of products and technologies necessary to operate within military networks.
“We are excited about the acquisition of N-Dimension by IPKeys Power Partners. The combined platform will present significant potential opportunities to expand the N-Dimension product offering and continue to enhance and build upon their leading position in the OT/IT/Critical Infrastructure Cyber Security market,” said Wally Hunter, Managing Director, Enertech Capital. “We are also pleased to be a new investor in the IPKeys Power Partners platform. IPKeys Power Partners has built a very strong management team and we have been very impressed with their vision on how N-Dimension can add to their platform, as well as their strategic path forward for supporting intelligent utilities and smart cities.”
“I am very excited for N-Dimension and IPKeys Power Partners,” said Mark Munday, interim CEO and Board Member of N-Dimension. “IPKeys Power Partners has an excellent reputation, organization, offerings, and strategy. As part of a much larger, better resourced company N-Dimension’s unrivaled cybersecurity solutions continue and will be integrated into a much broader solution to our combined client base. This deal is a win for all concerned.” 
England & Company provided advisory services to IPKeys Power Partners in support of this acquisition.
About IPKeys Power Partners 
IPKeys Power Partners provides secure technology solutions to the complex challenges faced by utilities and cities across North America. These challenges encompass cyber secure energy infrastructure, optimized electricity demand management and reliable public safety communication networks. IPKeys technology solutions portfolio encompasses networks, data centers, cybersecurity, software, hardware and smart energy grids. The company has operations in California, Louisiana, Maryland, New Jersey, Texas and Virginia.
About N-Dimension 
N-Dimension is a market leading Managed Detection and Remediation Services (MDR) provider with innovative solutions tailored to protect IoT, IT and OT networks from cyberattacks, improving system reliability and safeguarding critical infrastructure, data and assets.
About EnerTech Capital 
EnerTech Capital is a private investment firm focused on innovation in the energy and technology industries, investing in mid-stage venture companies offering products or services that dramatically improve the profitability of producing or consuming energy. Founded in 1996, the firm has managed approximately $500 million through four funds and has delivered 42 exits. EnerTech Capital has a strong focus on energy innovation and technology related opportunities in North America. The firm has built a significant base of Strategic Partners which includes: ENGIE, Alectra, Waste Management, Hatch, Tervita, ENMAX, E Source, NB Power, Hydro Quebec, INO, Con Edison, SMUD, Tokyo Gas and TVA.
EnerTech has offices in Toronto, Philadelphia, Montreal, Calgary, Boston, Palm Beach Gardens and San Francisco.
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<title>Liberty Hall-backed Bromford acquires Numet</title>
<link>https://www.pehub.com/2019/11/liberty-hall-backed-bromford-acquires-numet/</link>
<comments>https://www.pehub.com/2019/11/liberty-hall-backed-bromford-acquires-numet/#respond</comments>
<pubDate>Tue, 12 Nov 2019 15:34:45 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Industrial/Manufacturing]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3606019</guid>
<description><![CDATA[Bromford Industries, which is backed by Liberty Hall Capital Partners, has acquired Numet Machining Techniques Inc, a provider of aerospace engine machined components. No financial terms were disclosed. Citizens Bank, N.A. and Stellus Capital Management provided the financing for the deal.]]></description>
<content:encoded><![CDATA[Bromford Industries, which is backed by Liberty Hall Capital Partners, has acquired Numet Machining Techniques Inc, a provider of aerospace engine machined components. No financial terms were disclosed. Citizens Bank, N.A. and Stellus Capital Management provided the financing for the deal.
PRESS RELEASE
CHARLESTON, S.C. and BIRMINGHAM, England and ORANGE, Conn., Nov. 12, 2019 /PRNewswire/ — Liberty Hall Capital Partners (“Liberty Hall”), a private equity firm focused exclusively on investments in businesses serving the global aerospace and defense industry, announced today the acquisition of Numet Machining Techniques, Inc. (“Numet”), by Bromford Industries (“Bromford”), a leading supplier of complex, close tolerance engine components, fabrications and assemblies for the global aerospace, defense and power generation industries. Terms of the transaction were not disclosed.
Bromford was acquired in March 2016 by Liberty Hall to serve as the foundational asset for the firm’s strategy to build a diversified engine component supplier through organic investments and strategic acquisitions. Numet represents Bromford’s third acquisition following the strategic acquisitions of AeroCision LLC in March 2018 and Accrofab Limited in June 2019. Numet’s management team, who will remain in place, will also invest in the acquisition.
“The acquisition of Numet marks a critical step in our overall plan of designing a ‘new’ Bromford as we transform the company into a leading, global supplier of aerospace engine machined and fabricated components and assemblies,” said Rowan Taylor, Liberty Hall’s founding and Managing Partner. Bromford now operates seven facilities with over 600 employees across the U.K., the U.S. and India, serves each of GE Aviation, Pratt & Whitney, Rolls-Royce and Safran Aircraft Engines, and generates the majority of its revenues in the United States.
Founded in 1984, Numet is a complementary US-based provider of aerospace engine machined components requiring complex geometries and exotic alloys. Numet supplies many of the key leading aerospace engine platforms, including the GTF, F135, PW4000, and LEAP, and its top customers include Pratt & Whitney, GE Aviation and the U.S. Department of Defense. Numet operates a single facility located in Orange, CT.
“Over the course of our ownership, we have consistently expanded capabilities, extended our geographic presence, and strengthened and diversified Bromford’s customer relationships and aircraft platform exposure through a series of organic investments and strategic acquisitions,” said Jack Nadal, Partner, Liberty Hall.
Bromford’s CEO, Gary Lowe, commented: “Numet’s management shares our vision and commitment to unparalleled quality and customer service, and we are pleased to integrate Numet into Bromford, providing our global customers with enhanced capabilities for new product introduction and strengthening our existing strategic relationships.”
Financing for the acquisition was provided by Citizens Bank, N.A. and Stellus Capital Management. Legal advice to Bromford and Liberty Hall was provided by Gibson Dunn & Crutcher.
The sellers were advised by Lincoln International. Legal advice was provided by Benesch, Friedlander, Coplan & Aronoff.
About Liberty Hall Capital Partners 
Liberty Hall Capital Partners is a private equity firm focused exclusively on investments in businesses serving the global aerospace and defense industry. Liberty Hall’s principals have a 25-plus year history of working together and have led the investment of over $2.5 billion in equity capital in over 25 businesses serving multiple segments of the aerospace and defense industry and complementary industrial end markets. Liberty Hall develops actionable investment strategies for attractive segments of the aerospace and defense industry and then partners with entrepreneurs and management teams to acquire leading businesses serving these segments and, together with them, develops sound, long-term strategic plans to build these businesses through a combination of strategic investments and strategic acquisitions. For more information, please visit http://www.libertyhallcapital.com/.
About Bromford Industries 
Bromford Industries Limited is a leading supplier of complex, close tolerance engine components, fabrications and assemblies for the global aerospace, defense and power generation industries. Bromford’s multiple and highly complementary capabilities allow the delivery of products to customers with optimal cost, quality and delivery. Based in Birmingham with additional facilities located in Alcester, Derby and Leicester, UK, Orange and Chester, Connecticut, USA and Bangalore, India, Bromford is currently executing a strategic plan to build its business through strategic investments in further capabilities, customers and platforms. For more information, please visit http://www.bromfordindustries.co.uk/.
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<title>Henkel to buy DevaCurl from Ares Management</title>
<link>https://www.pehub.com/2019/11/henkel-to-buy-devacurl-from-ares-management/</link>
<comments>https://www.pehub.com/2019/11/henkel-to-buy-devacurl-from-ares-management/#respond</comments>
<pubDate>Mon, 11 Nov 2019 19:32:46 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Consumer/Retail]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605949</guid>
<description><![CDATA[Henkel has agreed to acquire DevaCurl, a provider of hair care and styling products for curly and wavy hair from Ares Management Corp's private equity group. No financial terms were disclosed.
]]></description>
<content:encoded><![CDATA[Henkel has agreed to acquire DevaCurl, a provider of hair care and styling products for curly and wavy hair from Ares Management Corp‘s private equity group. No financial terms were disclosed.
PRESS RELEASE
DÜSSELDORF, Germany–(BUSINESS WIRE)–Henkel has signed an agreement to acquire Deva Parent Holdings, Inc., New York City/USA from a fund managed by the Private Equity Group of Ares Management Corporation. Deva Parent Holdings owns DevaCurl, a high growth professional hair care business.
Founded in 1994, the company offers high-growth, premium and category-leading hair care and styling products for all types of curly and wavy hair with a comprehensive portfolio of vegan and “free from” formulas. The product range includes cleansers, conditioners, styling products, styling accessories, and treatments. The portfolio of DevaCurl is highly complementary to the existing portfolio of Henkel Beauty Care. The ‘Premium Professional’ products of DevaCurl are distributed in the US in leading salons. They are also available at selective retailers like Ulta and Sephora as well as through direct-to-consumer (D2C) and eCommerce platforms. In 2019, the business is expected to generate sales of around 100 million US dollars, mainly in the US market. The company employs around 200 people.
“This acquisition is part of our strategy to expand our position in attractive and fast-growing markets and categories. It will complement and further strengthen our Hair Professional business,” said Henkel CEO Hans Van Bylen.
“DevaCurl is one of the fastest-growing ‘Premium Professional’ hair care brands in the US. The brand is a perfect fit for our Beauty Care business and will reinforce the growth momentum of our Hair Professional portfolio in the world’s largest hair professional market,” said Jens-Martin Schwärzler, Executive Vice President and responsible for Henkel’s Beauty Care business.
“We are grateful for the opportunity to have partnered with DevaCurl’s outstanding management team,” said Dennis Gies, Partner in the Private Equity Group of Ares Management. “We are proud to have supported the company during its significant growth over the past two and a half years and are delighted that they found the right partner in Henkel to support the company in the years ahead.”
The agreement is subject to customary closing conditions, including regulatory approvals.
About Henkel 
Henkel operates globally with a well-balanced and diversified portfolio. The company holds leading positions with its three business units in both industrial and consumer businesses thanks to strong brands, innovations and technologies. Henkel Adhesive Technologies is the global leader in the adhesives market – across all industry segments worldwide.
In its Laundry & Home Care and Beauty Care businesses, Henkel holds leading positions in many markets and categories around the world. Founded in 1876, Henkel looks back on more than 140 years of success. In 2018, Henkel reported sales of around 20 billion euros and adjusted operating profit of around 3.5 billion euros. Henkel employs around 53,000 people globally – a passionate and highly diverse team, united by a strong company culture, a common purpose to create sustainable value, and shared values. As a recognized leader in sustainability, Henkel holds top positions in many international indices and rankings. Henkel’s preferred shares are listed in the German stock index DAX.
For more information, please visit www.henkel.com.
About Ares Management 
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager operating three integrated businesses across Credit, Private Equity and Real Estate. Ares Management’s investment groups collaborate to deliver innovative investment solutions and consistent and attractive investment returns for fund investors throughout market cycles. Ares Management’s global platform had $144 billion of assets under management as of September 30, 2019 and employs approximately 1,200 employees in over 20 offices across four continents. Please visit www.aresmgmt.com for additional information.
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<title>PE-backed Gemini acquires ORFLO</title>
<link>https://www.pehub.com/2019/11/pe-backed-gemini-acquires-orflo/</link>
<comments>https://www.pehub.com/2019/11/pe-backed-gemini-acquires-orflo/#respond</comments>
<pubDate>Mon, 11 Nov 2019 17:42:14 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Healthcare]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605938</guid>
<description><![CDATA[Gemini Bioproducts, which is backed by BelHealth Investment Partners, has acquired Ketchum, Idaho-based ORFLO Technologies, a provider of cell analysis instruments. No financial terms were disclosed.]]></description>
<content:encoded><![CDATA[Gemini Bioproducts, which is backed by BelHealth Investment Partners, has acquired Ketchum, Idaho-based ORFLO Technologies, a provider of cell analysis instruments. No financial terms were disclosed.
PRESS RELEASE
WEST SACRAMENTO, CA, November 11, 2019 – Gemini Bioproducts, LLC (“Gemini”), a leading provider of cell culture solutions and a portfolio company of BelHealth Investment Partners, LLC (“BelHealth”), today announced the acquisition of ORFLO Technologies (“ORFLO”), an innovative life sciences instrumentation company.
Founded in 2003 by Ted Ayliffe, Ph.D., ORFLO is a supplier of cell analysis instruments including flow cytometers and cell counters, as well as their associated consumables and reagents. ORFLO’s two flagship products are the Moxi Z, a cell counter, and the Moxi Go, a benchtop flow cytometer. Through the unique combination of impedance and fluorescence-based flow cytometry, ORFLO’s Moxi Go provides an informative window into cell analysis by directly measuring fluorescence, cell count, and cell volume simultaneously.
Gemini CEO Dale Gordon stated, “ORFLO is a highly complementary acquisition for Gemini. Moxi Go and Moxi Z products will greatly enhance our offerings in the cell and gene therapy markets, providing customers real-time insights into their cells to help accelerate the pace in which they bring transformational therapies to patients. The acquisition of ORFLO demonstrates our commitment to building a world class cell processing and monitoring solution. We expect to invest additional resources into R&D and leverage our excellent customer support team for the ORFLO instruments.”
Ted Ayliffe said, “We are thrilled to join the Gemini team. After almost two decades of developing our proprietary technology, we are excited about leveraging Gemini’s dedicated commercial organization with a shared vision of further developing this technology to help reach our full commercial potential.”
Harold Blue, Managing Partner of BelHealth and Gemini Board Member, added, “The addition of ORFLO is a pivotal event for Gemini in the buildout of our cell culture solutions platform. ORFLO greatly enhances the size and dynamic of the company. ORFLO’s and Gemini’s products serve the same customer endpoints and we expect the combined portfolio to strengthen our position in the rapidly evolving cell therapy industry with a comprehensive offering.”
About Gemini Bio 
Founded in 1985, Gemini is a leading provider of cell culture solutions to the scientific community across cell and gene therapy, biotechnology, and academic research. Gemini also offers contract manufacturing and regulatory consulting services. Gemini’s singular mission is to enhance human life by delivering comprehensive cell culture solutions that enable discovery, development, and production of transformational therapies. Our national sales force and international distribution network serves cell culture science worldwide. The Company is based in West Sacramento, California.
About ORFLO Technologies 
Founded in 2003, ORFLO Technologies is a supplier of cell analysis instruments including flow cytometers and cell counters, consumables, and reagents. ORFLO’s two flagship products are the Moxi Go, a benchtop flow cytometer, and the Moxi Z, a cell counter. Through the unique combination of impedance and fluorescence-based flow cytometry, ORFLO’s Moxi Go provides an informative window into cell analysis by directly measuring fluorescence, cell count, and cell volume simultaneously.
About BelHealth Investment Partners 
BelHealth Investment Partners, based in New York, is a healthcare private equity firm focused on lower middle market companies. BelHealth has a unique combination of investing, executive management and entrepreneurial experience. BelHealth acquires majority positions in entrepreneur-owned companies that it believes would benefit from its extensive operating and private equity investment expertise. The firm invests across three core healthcare segments: Services, Products and Distribution. BelHealth is investing from its current $350 million fund.
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<title>Tailwater-backed Align and Elevate merge East Texas asset bases</title>
<link>https://www.pehub.com/2019/11/tailwater-backed-align-and-elevate-merge-east-texas-asset-bases/</link>
<comments>https://www.pehub.com/2019/11/tailwater-backed-align-and-elevate-merge-east-texas-asset-bases/#respond</comments>
<pubDate>Mon, 11 Nov 2019 16:50:57 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Energy/Power]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605932</guid>
<description><![CDATA[Tailwater Capital portfolio companies Align Midstream Partners II LLC and Elevate Midstream Partners LLC have merged their respective East Texas asset bases. No financial terms were disclosed. Dallas-based Align and Houston-based Elevate are provider of midstream solutions.]]></description>
<content:encoded><![CDATA[Tailwater Capital portfolio companies Align Midstream Partners II LLC and Elevate Midstream Partners LLC have merged their respective East Texas asset bases. No financial terms were disclosed. Dallas-based Align and Houston-based Elevate are provider of midstream solutions.
PRESS RELEASE
DALLAS, November 11, 2019 – Align Midstream Partners II, LLC (“Align”), a Dallas-based midstream company focused on servicing producers’ gathering and treatment needs in East Texas, and Elevate Midstream Partners, LLC (“Elevate”), a full-service provider of value-enhancing midstream solutions headquartered in Houston, today announced the combination of their respective East Texas asset bases. Both companies are backed by Tailwater Capital (“Tailwater”), an energy-focused private equity firm based in Dallas.
Effective immediately, Align, led by industry veterans Fritz Brinkman and Matthew Osborn, will assume operatorship of the combined asset base, which adds more than 180 miles of active pipeline to its existing footprint across Panola, Rusk, and Harrison Counties. With an average daily volume of more than 300 MMSCFD, the combination provides Align with added processing and compression capabilities, while further diversifying its customer base by adding several marquee East Texas producers who are active in both the Haynesville and Cotton Valley formations.
Concurrent with the closing of the transaction, Roger Fox and the management team of Elevate Midstream Partners, LLC will create Elevate Midstream Partners II, LLC with a $150 million equity commitment from Tailwater to further capitalize on midstream asset acquisitions and greenfield buildout opportunities.
“We are pleased to announce the combination of Align and Elevate’s East Texas asset bases,” said Jason Downie, Co-Founder and Managing Partner of Tailwater Capital. “This strategic combination expands Align’s East Texas asset footprint into areas in which the company already has unmatched expertise and familiarity – and provides Align with the ability to grow and enhance the scale at which it can service producers, while simultaneously positioning Elevate to execute on midstream opportunities in what we believe to be an attractive market.”
“We are excited about this combination and the opportunity to extend our platform in an area of the basin we know well,” said Fritz Brinkman, CEO of Align Midstream Partners II, LLC. “Our number one priority has always been and will continue to be providing our producer customers in East Texas with best in-class service to facilitate their long-term growth plans, and we believe this combination and enhanced scale allows us to do just that.”
“Over the past year we have executed on our strategic growth objectives with the consolidation of two platform acquisitions – more than doubling volume on the system – while expanding our relationship with Sabine Oil and Gas,” said Roger Fox, CEO of Elevate Midstream Partners II, LLC. “We believe the combined business is well-positioned to continue to meet the growing needs of customers, and we look forward continuing to work with Jason, Edward and the rest of the Tailwater team to execute on further midstream opportunities available in today’s market.”
About Align Midstream Partners II, LLC 
Align Midstream Partners II is a Dallas-based midstream company focused on servicing producers’ needs in East Texas with gathering and treating assets located in the Shelby Trough of the Haynesville formation. Align II is the second partnership for the management team and Tailwater Capital. Align Midstream Partners I was sold in October of 2017 to Enable Midstream. Align Midstream Partners I consisted of a 100-million cubic feet per day cryogenic natural gas processing plant in Panola, Texas, and approximately 200 miles of rich and dry natural gas gathering pipelines across Rusk, Panola and Shelby counties in Texas and DeSoto Parish in Louisiana. For more information, please visit: www.alignmidstream.com.
About Elevate Midstream Partners II, LLC 
Headquartered in Houston, Elevate Midstream Partners II, LLC is a private midstream service company focused on providing responsive, scalable, value-enhancing midstream solutions to exploration and production customers. Prior to the combination with Align Midstream Partners II, Elevate owned and operated more than 180 miles of active pipelines, 19,000-horsepower of compression, an 80 MMcf/d gas processing plant, and related dehydration and NGL stabilization equipment. For more information, please visit: www.elevatemidstream.com.
About Tailwater Capital, LLC 
Dallas-based Tailwater Capital is a growth-oriented energy private equity firm with a well-established track record of working constructively with proven management teams to deliver value-added solutions. Tailwater currently manages more than $3.5 billion in committed capital and the team has executed more than 100 energy transactions in the upstream and midstream sectors representing over $19 billion in transaction value. For more information, please visit www.tailwatercapital.com.
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<title>Riverside sells Censis</title>
<link>https://www.pehub.com/2019/11/riverside-sells-censis/</link>
<comments>https://www.pehub.com/2019/11/riverside-sells-censis/#respond</comments>
<pubDate>Mon, 11 Nov 2019 15:54:55 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[M&A]]></category>
<category><![CDATA[Tech]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605913</guid>
<description><![CDATA[The Riverside Company has sold Franklin, Tennessee-based Censis Technologies, a provider of SaaS-based surgical instrument tracking and workflow solutions for sterile processing departments of hospitals and ambulatory surgical centers. The buyer was Fortive Corporation. No financial terms were disclosed. Piper Jaffray & Co., Software Equity Group, Jones Day and Deloitte advised Riverside and Censis on the deal.]]></description>
<content:encoded><![CDATA[The Riverside Company has sold Franklin, Tennessee-based Censis Technologies, a provider of SaaS-based surgical instrument tracking and workflow solutions for sterile processing departments of hospitals and ambulatory surgical centers. The buyer was Fortive Corporation. No financial terms were disclosed. Piper Jaffray & Co., Software Equity Group, Jones Day and Deloitte advised Riverside and Censis on the deal.
PRESS RELEASE
The Riverside Company, a global private equity firm focused on the smaller end of the middle market, has sold Censis Technologies, Inc. (Censis) to Fortive Corporation (NYSE: FTV). Headquartered in Franklin, Tennessee, Censis provides SaaS-based surgical instrument tracking and workflow solutions for sterile processing departments (SPDs) of hospitals and ambulatory surgical centers.
Censis helps ensure the accuracy and procedural compliance of SPDs, including the critical responsibility of assembling instrument trays for surgical procedures, sterilizing instruments and managing and maintaining inventory from purchase to retirement.
“Our team had a clear value creation plan going into the investment,” said Riverside Managing Partner Loren Schlachet. “We executed on that plan in close partnership with management to drive organic growth, improve the product suite to further enhance the company’s leadership in the market and complete a key add-on acquisition.”
Riverside sourced and completed the add-on of St. Louis-based Applied Logic, supporting the platform’s vision to remain the first-class choice for surgical inventory management software.
“Working hand-in-hand with the Censis team, we successfully expanded the sales team to drive organic growth and capitalize on an underpenetrated market,” said Riverside Partner Brian Sauer. “We more than quadrupled the number of hospitals served during our 5-year hold period.”
Censis is another example of Riverside’s commitment to investing in the Software and Information Technology and Healthcare Specializations. Riverside has built a team of global experts who understand how to grow these types of organizations.
“We are proud of the work we have done with Censis, a company whose mission-critical solutions help save lives and improve patient outcomes every day,” said Riverside Vice President Garrett Monda. “We are happy to say that, with the help of Riverside, Censis is poised to continue its path as the leading perioperative optimization solution, and we look forward to watching its next chapter with Fortive.”
Working with Schlachet, Sauer and Monda on the deal for Riverside were Associate Elizabeth Warner, Senior Operating Partner Dave Tiley and Finance Director Alvin Tan.
Censis and Riverside were advised by Piper Jaffray & Co., Software Equity Group, Jones Day and Deloitte.
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<title>PE-backed Hub acquires Carey Corp assets</title>
<link>https://www.pehub.com/2019/11/pe-backed-hub-acquires-carey-corp-assets/</link>
<comments>https://www.pehub.com/2019/11/pe-backed-hub-acquires-carey-corp-assets/#respond</comments>
<pubDate>Mon, 11 Nov 2019 15:28:17 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Financial Services]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605904</guid>
<description><![CDATA[Hub International Limited, an insurance brokerage, has acquired the assets of Manitoba-based W.R. Carey Corporation, an employee benefits consulting firm. No financial terms were disclosed. Hub is backed by Altas Partners and Hellman & Friedman.
]]></description>
<content:encoded><![CDATA[Hub International Limited, an insurance brokerage, has acquired the assets of Manitoba-based W.R. Carey Corporation, an employee benefits consulting firm. No financial terms were disclosed. Hub is backed by Altas Partners and Hellman & Friedman.
PRESS RELEASE
CHICAGO, Nov. 8, 2019 /PRNewswire/ — Hub International Limited (Hub), a leading global insurance brokerage, announced today that it has acquired the assets of W.R. Carey Corporation (Carey Corp). Terms of the transaction were not disclosed.
Located in Winnipeg, Manitoba, Canada, Carey Corp is an independent employee benefits consulting firm providing a broad array of benefits programs, including benefits plan consulting and group retirement services. Bill Carey, an actuary, along with all the employees of Carey Corp will join Hub International Manitoba Limited (Hub Manitoba).
“Carey Corp has an excellent and established reputation as an employee benefits consultant and broker, with over 30 years of experience,” said Keith Jordan, President and CEO of Hub Manitoba. “They will further expand our platform to deliver a best-in-class employee benefits service experience to our clients.”
The move continues to reinforce Hub’s ongoing Canadian employee benefits growth and services strategy to expand its best-in-class employee benefits and pension solution to address the challenges clients are facing, including in benefits communication, health and wellness, and retirement.
“Ongoing and expanded service to our clients is of utmost importance to us,” said Mr. Carey. “All Carey Corp employees, me included, will continue on at Hub. We will personally continue to work with and service our clients, as we have always done. With the continued expansion of Hub’s employee benefits solutions in Canada, its recognized insurance and risk services, its local size and expertise in the Winnipeg office, and its international reach, Hub is the ideal firm for us and our clients to join and with which to continue to advise clients on a broad range of employee benefit issues. We are excited to be able to continue working with our clients, and to have access to an expanded array of services and expertise.”
About Hub’s M&A Activities 
Hub International Limited is committed to growing organically and through acquisitions to expand its geographic footprint and strengthen industry and product expertise. For more information on the Hub M&A experience, visit WeAreHub.com.
About Hub International 
Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker providing property and casualty, life and health, employee benefits, investment and risk management products and services. With more than 11,000 employees in offices located throughout North America, Hub’s vast network of specialists provides peace of mind on what matters most by protecting clients through unrelenting advocacy and tailored insurance solutions. For more information, please visit www.hubinternational.com.
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<title>HBC closes sale of Lord + Taylor to VC-backed Le Tote</title>
<link>https://www.pehub.com/2019/11/hbc-closes-sale-of-lord-taylor-to-vc-backed-le-tote/</link>
<comments>https://www.pehub.com/2019/11/hbc-closes-sale-of-lord-taylor-to-vc-backed-le-tote/#respond</comments>
<pubDate>Fri, 08 Nov 2019 21:48:53 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Consumer/Retail]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605852</guid>
<description><![CDATA[Canadian retailer Hudson’s Bay Co has closed its previously announced sale of department store chain Lord + Taylor to Le Tote Inc, a San Francisco-based fashion rental subscription service. The purchase price was C$99.5 million (US$75 million). As part of the deal, Le Tote has acquired the Lord + Taylor brand and related intellectual property as well as the operations of 38 stores, Lord + Taylor digital channels and the associated inventory. Le Tote's backers include Andreessen Horowitz, Azure Capital Partners, GV, Lerer Hippeau Ventures, Sway Ventures and Y Combinator.]]></description>
<content:encoded><![CDATA[Canadian retailer Hudson’s Bay Co has closed its previously announced sale of department store chain Lord + Taylor to Le Tote Inc, a San Francisco-based fashion rental subscription service. The purchase price was C$99.5 million (US$75 million). As part of the deal, Le Tote has acquired the Lord + Taylor brand and related intellectual property as well as the operations of 38 stores, Lord + Taylor digital channels and the associated inventory. Le Tote’s backers include Andreessen Horowitz, Azure Capital Partners, GV, Lerer Hippeau Ventures, Sway Ventures and Y Combinator.
PRESS RELEASE
TORONTO–(BUSINESS WIRE)–Hudson’s Bay Company (TSX:HBC) successfully completed the sale of Lord + Taylor to Le Tote, Inc., a leading fashion rental subscription service, for $99.5 million (USD$75 million) in cash and a secured promissory note for $32.2 million (USD$25 million) payable in cash after two years, subject to customary adjustments.
HBC now holds an equity stake of approximately 25% in Le Tote, and a right to designate two members to Le Tote’s Board of Directors.
Le Tote has acquired the Lord + Taylor brand and related intellectual property, as well as assumed operations of 38 stores, Lord + Taylor digital channels and the associated inventory. In addition, Le Tote has hired the vast majority of Lord + Taylor’s associates.
HBC will maintain economic responsibility for the rent payments owed by Lord + Taylor at the 38 locations operated by Le Tote for the initial three years post-closing. Net of HBC’s distributions from HBS Global Properties, HBC expects to continue to be liable for approximately $77 million in Lord + Taylor total cash rent on an annual basis. Starting in 2021, HBC and Le Tote will have options to reassess the Lord + Taylor store network, which may include HBC recapturing select locations to determine their highest and best use, including possible redevelopment into mixed-use properties, which is an inherently complex, capital intensive, long-term project. For any recaptured or returned stores, HBC retains long-term rent responsibility, risk and costs for redevelopment.
HBC investors should refer to the company’s public filings available at www.sedar.com and at www.hbc.com, including the company’s Material Change Report filed August 28, 2019, for additional information and details on the transaction.
About HBC 
HBC is a diversified retailer focused on driving the performance of high-quality stores and their omni-channel platforms and unlocking the value of real estate holdings. Founded in 1670, HBC is the oldest company in North America. HBC’s portfolio today includes formats ranging from luxury to premium department stores to off price fashion shopping destinations, with nearly 250 stores and approximately 30,000 employees around the world. HBC’s leading businesses across North America include Saks Fifth Avenue, Hudson’s Bay, and Saks OFF 5TH. HBC also has significant investments in real estate joint ventures. It has partnered with Simon Property Group Inc. in the HBS Joint Venture, which owns properties in the United States. In Canada, it has partnered with RioCan Real Estate Investment Trust in the RioCan-HBC Joint Venture.
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<title>NSi Industries acquires SullStar</title>
<link>https://www.pehub.com/2019/11/nsi-industries-acquires-sullstar/</link>
<comments>https://www.pehub.com/2019/11/nsi-industries-acquires-sullstar/#respond</comments>
<pubDate>Fri, 08 Nov 2019 16:27:02 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Industrial/Manufacturing]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605816</guid>
<description><![CDATA[NSi Industries, which is backed by Blue Sea Capital, has acquired Simi Valley, California-based SullStar Technologies, a provider of tools and connectors for the datacom and telecom markets. No financial terms were disclosed.]]></description>
<content:encoded><![CDATA[NSi Industries, which is backed by Blue Sea Capital, has acquired Simi Valley, California-based SullStar Technologies, a provider of tools and connectors for the datacom and telecom markets. No financial terms were disclosed.
PRESS RELEASE
HUNTERSVILLE, N.C.–(BUSINESS WIRE)–NSi Industries, LLC, a leading provider of electrical and control products, today announced the acquisition of the Simi Valley, California-based SullStar Technologies, expanding its product portfolio and leadership position in the low-voltage product market. SullStar Technologies designs unique patented tools and connectors for the datacom and telecom markets. 
For more than 20 years, SullStar Technologies has been partnering with NSi Industries’ Platinum Tools division, which NSi acquired earlier this year, for the distribution and sales of its products. SullStar’s patented specialty electrical products include crimp tools, pushdown tools and connectors and has over 60 patents worldwide.
“SullStar is the inventor of numerous global patents in and around the low-voltage tools and connectors space,” said G. R. Schrotenboer, chief executive officer, NSi Industries. “This acquisition ties together the sales and development of two businesses into one, further strengthening our leadership position in the low-voltage market.”
As part of the overall acquisition, NSi will gain ownership and work on maintaining and enforcing SullStar’s current patents. SullStar’s patented product portfolio consists of high-value items that feature unique characteristics to better meet professional electrical installers’ needs.
“This acquisition allows a long-standing partnership to come together, bringing tremendous value to Platinum Tools and the market,” said Rob Sullivan, owner, SullStar Technologies. “NSi is an industry leader with tremendous resources and reach. We’re pleased to be joining a company that has the same dedication to offering the best quality products that bring installation ease and efficiency to customers. We look forward to working with NSi and the Platinum Tools team to provide new and innovative solutions to our respective customers.”
The SullStar products will be branded under NSi’s Platinum Tool division.
In addition to NSi’s acquisition of Platinum Tools earlier this year in March, which expanded its market reach into the datacom market, the company also acquired electrical products manufacturer Bridgeport Fittings, Inc., this past August, growing its North American footprint. The company offers one of the broadest product, service and solution portfolios serving the electrical marketplace. This acquisition further accelerates its growth in providing innovative and quality solutions to its distributor partners and their customers.
For additional information about NSi visit www.nsiindustries.com. For information on SullStar Technologies’ solutions, please visit www.sullstar.com.
About NSi Industries 
NSi Industries is a leading provider of electrical products covering over 25 product categories, addressing all the needs of electrical contractors and their customers. NSi’s has many innovative and respected products and brands including: TORK® mechanical and digital time switches, photocontrols and occupancy sensors; WarriorWrap<img src="https://s.w.org/images/core/emoji/12.0.0-1/72x72/2122.png" alt="™" class="wp-smiley" style="height: 1em; max-height: 1em;" /> electrical tapes; and Polaris®, the original insulated connector. Providing over 40 years of innovative, profitable and quality solutions to its distributor partners, NSi’s sustained level of success is attributable to a constant focus on its distributor partnerships and helping them find new ways to be successful. For more information about NSi Industries and its products, visit www.nsiindustries.com.
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<title>DoubleVerify buys Ad-Juster</title>
<link>https://www.pehub.com/2019/11/doubleverify-buys-ad-juster/</link>
<comments>https://www.pehub.com/2019/11/doubleverify-buys-ad-juster/#respond</comments>
<pubDate>Fri, 08 Nov 2019 16:24:43 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Business Services]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605815</guid>
<description><![CDATA[DoubleVerify has acquired San Diego-based Ad-Juster, a SaaS-based reporting and analytics platform for digital publishers. No financial terms were disclosed. Ad-Juster was backed by Innotech Capitals, an investment arm of Innotech International.]]></description>
<content:encoded><![CDATA[DoubleVerify has acquired San Diego-based Ad-Juster, a SaaS-based reporting and analytics platform for digital publishers. No financial terms were disclosed. Ad-Juster was backed by Innotech Capitals, an investment arm of Innotech International.
PRESS RELEASE
NEW YORK, Nov. 07, 2019 (GLOBE NEWSWIRE) — DoubleVerify (“DV”), the leading independent platform for digital media measurement and analytics, today announced the acquisition of Ad-Juster, a SaaS-based reporting and analytics platform for digital publishers. Ad-Juster services deliver the data transparency and insights publishers use to optimize their ad revenues across comprehensive direct and programmatic sales channels.
Most large digital publishers today rely on multiple marketing channels and supply platforms to maximize the sale of their ad inventory. However, a lack of consistent standards and channel fragmentation result in data discrepancies, reporting complexity and unresolved revenue conflicts – often without the transparency and actionable insights needed to address the issues.
The Ad-Juster reporting and analytics platform unifies massive volumes of publishers’ advertising inventory and sales data from thousands of integrations with 3rd party servers and programmatic demand platforms – providing the transparency and analytics necessary to maximize publisher revenue yield and streamline internal operations. Founded in 2007, Ad-Juster currently serves over 110 publisher clients, including over half of the top 100 comScore-ranked web publishers.
“Ad-Juster brings a proven market solution, a premium customer base and a talented team of product, engineering and client-serving professionals,” said Wayne Gattinella, DoubleVerify CEO. “Combining our two companies will create a holistic measurement & analytics solution across the entire digital ecosystem – joining the Ad-Juster data platform for sell-side partners with the DV platform for buy-side partners.”
“We are proud to become a part of the DoubleVerify organization and are excited to expand our breadth of publisher solutions globally,” said Dennis Clerke, GM for the Ad-Juster business unit. “Only Ad-Juster and DoubleVerify have access to the unique and comprehensive data that enables us to provide full lifecycle analytics for digital publishers.”
The Ad-Juster organization will continue to operate from offices in San Diego and New York City. The transaction was completed as an all cash, all stock offer on October 29, 2019.
About DoubleVerify 
DoubleVerify is the leading independent platform for digital media measurement software and analytics that authenticates the quality and effectiveness of digital media for the world’s largest brands and media platforms. DV provides media transparency and accountability to deliver the highest level of impression quality for maximum advertising performance. Since 2008, DV has helped hundreds of Fortune 500 companies gain the most from their media spend by delivering best in class solutions across the digital ecosystem, helping to build a better industry. Learn more at www.doubleverify.com
About Ad-Juster 
Ad-Juster is a market-leading SaaS provider of unified data reporting and analytics for digital advertising. Since its founding in 2007, Ad-Juster has worked closely with over 150 blue-chip publishers, agencies, ad-tech platforms and ad networks to deliver a digital advertising measurement product line to streamline workflows, overcome billing discrepancies, optimize programmatic performance and maximize revenue.
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<title>PE-backed LRW buys T3</title>
<link>https://www.pehub.com/2019/11/pe-backed-lrw-buys-t3/</link>
<comments>https://www.pehub.com/2019/11/pe-backed-lrw-buys-t3/#respond</comments>
<pubDate>Thu, 07 Nov 2019 22:18:02 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Business Services]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605771</guid>
<description><![CDATA[LRW Group, which is backed by Tailwind Capital, has acquired Austin-based T3, a digital marketing agency. No financial terms were disclosed. JEGI | CLARITY represented T3 on the transaction.]]></description>
<content:encoded><![CDATA[LRW Group, which is backed by Tailwind Capital, has acquired Austin-based T3, a digital marketing agency. No financial terms were disclosed. JEGI | CLARITY represented T3 on the transaction.
PRESS RELEASE
New York, NY, November 7, 2019 – LRW Group, an analytics-powered marketing services company and a portfolio company of Tailwind Capital, today announced the acquisition of T3, a digital marketing agency that builds the world’s most useful brands and the experiences that power them. The Austin-based company and its 200-plus employees joins LRW Group immediately, and will operate under the company’s Action Division, which helps businesses apply insights toward essential brand and marketing activations.
JEGI | CLARITY (www.jegiclarity.com), the leading independent investment bank for the global media, information, marketing, software and tech-enabled services sectors, with offices in New York, Boston, London and Sydney, represented T3 in this transaction.
Founded in 1989, T3 brings to LRW Group 30 years of experience working with leading companies to make their brands more useful to consumers. T3 helps clients develop human-centered digital experiences through brand design, product design, Modern Loyalty experiences and innovation. A top-ranked digital innovation agency, T3 clients include UPS, 7-Eleven, Pizza Hut, Hallmark, FOCUS Brands and other brands.
“In a highly competitive world of digital marketing and customer experience, T3 truly stands out for its relentless focus on innovation and for its proven success to help brands reach their full potential,” said Tom Bernthal, president of LRW Group’s Action Division. “T3’s sustained growth and achievement over the last three decades is a testament to its ability to adapt and thrive through the breakneck pace of change in the digital space. We see the same resilience in them that we see in our group’s DNA, which makes them a natural fit for our company’s culture and goals.”
With the move to LRW Group, T3 will continue to work with its current clients, independently pursue new clients, and provide valuable brand innovation and activation opportunities to new and existing LRW Group clients. T3 President Ben Gaddis will continue to oversee the agency’s day-to-day operations, and will assume the CEO role from the agency’s founder, Gay Gaddis.
“The partnership with LRW Group gives us the ability to scale and take T3 to the next level, while maintaining our unique culture,” said Ben Gaddis. “At our core, we’re a family business that has always valued an independent mindset. It’s an honor to build upon Gay’s legacy and lead the company in this next phase of our journey. Now as a member of LRW Group, we can continue working with the same independent spirit while gaining access to a vast network of resources and new client opportunities.”
The acquisition of T3 caps a monumental year of growth for LRW Group. T3 is the group’s fifth acquisition of 2019 and its 10th acquisition all-time. Just last month, it added branding agency Salt, as well as communications firm Karma Agency. Earlier this year, LRW Group added strategic consultancy LRWGreenberg (formerly Greenberg Strategies) and award-winning visual communication agency Killer Visual Strategies (previously known as Killer Infographics).
“T3 is the latest example of our commitment to developing a comprehensive marketing services company that builds and expands the world’s most iconic brands,” said LRW Group Chairman and CEO Dave Sackman. “One day we’ll look back at 2019 as the year that truly launched LRW Group into the next stratosphere of capabilities that translate sophisticated analytics and insights into unparalleled brand impact.” T3 was advised throughout the transaction process by JEGI, a leading independent investment bank focused on media, marketing, information and technology. Businesses and marketers interested in learning more about T3’s innovation and activation capabilities can visit LRWGroup.com or send an email to info@LRWGroup.com.
About T3 
T3 is a digital marketing agency that creates the world’s most useful brands and the experiences that power them. We focus on brand design, product design and modern loyalty by creating connected experiences, purposeful content, meaningful data, brand defining utility and CRM. Ranked alongside the world’s top innovation and loyalty agencies, T3 works with UPS, 7-Eleven, Pizza Hut, Hallmark, Capital One, Waste Management and FOCUS Brands and other clients. Founded in 1989, T3 is headquartered in Austin with presences in New York, San Francisco and Atlanta. For more information, visit www.t-3.com.
About LRW Group 
LRW Group is an integrated marketing services company offering clients a wide variety of capabilities to solve complex problems for the world’s most remarkable businesses. Operating two core divisions – Perspective and Action – LRW Group provides a wide range of solutions with an emphasis on strategy, branding, communications, innovation, product development, and customer experience. Our proprietary approach goes beyond data analysis to build businesses from the insight out. LRW Group companies include LRW, Kelton Global, ISA, LRWTonic, LRWMotiveQuest, LRWGreenberg, Strativity, Killer Visual Strategies, Karma Agency, Salt Branding, T3, and icanmakeitbetter. The group is headquartered in Los Angeles with offices or facilities in New York, Chicago, San Francisco, London, Seattle, Orange County, Philadelphia, Austin, Las Vegas, Charlotte, and Atlanta. For more information, visit www.lrwonline.com.
About Tailwind Capital 
Tailwind Capital is a middle market private equity firm focused on growth-oriented investments in targeted sectors within healthcare, business services and industrial services. Tailwind partners with experienced management teams and entrepreneurs to transform businesses through organic growth initiatives, acquisitions, and operational and strategic investments. Since inception, Tailwind has managed $3.6 billion of committed equity capital, and has invested in 41 portfolio companies and over 100 add-on acquisitions. For more information, visit www.tailwind.com.
About JEGI | CLARITY 
JEGI | CLARITY is the leading independent investment bank for the global media, information, marketing, software and tech-enabled services sectors. With offices in London, Sydney, New York and Boston, we have closed more than 700 transactions during our 30+ year history. For more information, visit www.jegiclarity.com.
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<title>PE-backed Digital Media Solutions acquires UE.co</title>
<link>https://www.pehub.com/2019/11/pe-backed-digital-media-solutions-acquires-ue-co/</link>
<comments>https://www.pehub.com/2019/11/pe-backed-digital-media-solutions-acquires-ue-co/#respond</comments>
<pubDate>Thu, 07 Nov 2019 17:34:05 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[M&A]]></category>
<category><![CDATA[Tech]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605689</guid>
<description><![CDATA[Florida-based Digital Media Solutions, which is backed by Canadian private equity firm Clairvest Group, has acquired San Diego-based UE.co, a provider of software and services for digital marketing. No financial terms were disclosed.]]></description>
<content:encoded><![CDATA[Florida-based Digital Media Solutions, which is backed by Canadian private equity firm Clairvest Group, has acquired San Diego-based UE.co, a provider of software and services for digital marketing. No financial terms were disclosed.
PRESS RELEASE
SAN DIEGO, CA / ACCESSWIRE / November 6, 2019 / One of the fastest-growing performance marketing companies in the U.S., Digital Media Solutions® (DMS) made an announcement today that they have purchased UE.co, San Diego’s Fastest Growing Business Award Winner. Digital Media Solutions will create a new division of their enterprise called DMS Insurance which will provide support to insurance companies and their agents.
San Diego’s UE.co supplies its customers with software and services for digital marketing. Their software has achieved many awards and is designed to help digital marketing companies create and promote their advertising campaigns. Previously called ‘Underground Elephant’, UE.co is the 2019 recipient of TalentDesk’s award for ‘Best Small Companies for Software Engineering Jobs in San Diego and Digital Marketing Jobs in Denver, Colorado.’ UE.co has also been named by Inc. magazine as a ‘Fastest Growing Company,’ and is a Certified Great Place to Work.
Since 2014, eight high-revenue businesses have been acquired by Digital Media Solutions and the purchase of UE.co is their largest investment to date. DMS is a major supplier of marketing solutions for individuals and companies seeking to exploit exclusive publishing network opportunities. DMS’s powerful database provides a vast repository for companies and individuals to gain the means to initiate advertising campaigns to attract consumers and increase their businesses and revenues.
“DMS Insurance represents the combined people, process and technology power of two leading performance marketing companies. Working as one, we will provide best-in-class, trackable, compliant digital marketing solutions with unprecedented accountability for every media dollar spent,” said Joe Marinucci, Co-Founder, and CEO of Digital Media Solutions. 
“DMS Insurance will add additional opportunities for growth for insurance advertisers and publisher partners,” said Jason Kulpa, Founder of UE.co. “It will be a dynamic combination, and exciting for the insurance industry.”
San Diego will continue to be the headquarters of DMS and DMS Insurance. Additional jobs will be created by expanding their technology department and sales teams. Taryn Lomas and Keola Malone will take over and run the business as DMS Insurance. Jason Kulpa, one of the founders and CEO is resigning.
About Digital Media Solutions® 
A team of dedicated athletes worked together to create Digital Media Solutions, LLC (DMS) which has become one of the fastest-growing digital performance marketing companies in the U.S. For companies seeking ways to create opportunities to acquire and attract data-driven digital media opportunities, DMS provides the solutions. These solutions provide clients with marketing results that are scalable, sustainable, and measurable. In today’s highly competitive market, clients can tap into DMS’s solutions to connect to the right consumers with the right offers at the right time.
Since its inception, DMS has experienced and continues to experience exceptional year-over-year growth. As of 2019, and for the sixth consecutive year, DMS was named on the Inc magazine’s 5000 list and acclaimed as one of America’s “Best Places to Work”. Entrepreneur magazine named DMS in its 360 list. LeadsCouncil awarded DMS its 2018 Lead Generation Award for Excellence.
DMS continues to be a leader in digital marketing and attracts some of the industry’s most knowledgeable and creative people to produce efficient processes using the most sophisticated technology. DMS promises to continue to promote its strategic mission and receives the backing of its board of investors, which includes the multi-billion-dollar Canadian private equity firm of Clairvest Group.
For more information about DMS, visit digitalmediasolutions.com. 
Subscribe to the DMS news at insights.digitalmediasolutions.com. 
Visit us on LinkedIn at www.linkedin.com/company/digital-media-solutions-group.
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<title>PE-backed StageBio merges with Alizée Pathology</title>
<link>https://www.pehub.com/2019/11/pe-backed-stagebio-merges-with-alizee-pathology/</link>
<comments>https://www.pehub.com/2019/11/pe-backed-stagebio-merges-with-alizee-pathology/#respond</comments>
<pubDate>Thu, 07 Nov 2019 15:30:21 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Healthcare]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605650</guid>
<description><![CDATA[StageBio has merged with Alizée Pathology to form a provider of specialized histology, pathology, biomarker development and archiving services for the biopharmaceutical, medical device and contract research industries. No financial terms were disclosed. StageBio is a portfolio company of Ampersand Capital Partners.]]></description>
<content:encoded><![CDATA[StageBio has merged with Alizée Pathology to form a provider of specialized histology, pathology, biomarker development and archiving services for the biopharmaceutical, medical device and contract research industries. No financial terms were disclosed. StageBio is a portfolio company of Ampersand Capital Partners.
PRESS RELEASE
MT. JACKSON, Va. and THURMONT, Md., Nov. 7, 2019 /PRNewswire/ — StageBio has merged with Alizée Pathology to form the leading provider of specialized histology, pathology, biomarker development, and archiving services for the biopharmaceutical, medical device and contract research industries. StageBio was recently created by the mergers of Histo-Scientific Research Laboratories (HSRL), Vet Path Services (VPS) and Tox Path Specialists (TPS), and now includes Alizée Pathology. StageBio is a portfolio company of Ampersand Capital Partners.
“Dr. Serge Rousselle, Dr. Joan Wicks and the Alizée staff bring unique histopathology capabilities to StageBio. These services enable us to offer the industry an even broader range of highly specialized histopathology and imaging services,” said Mr. Thomas Galati, StageBio CEO. “We have successfully merged HSRL, VPS and TPS, and are excited to add Alizée’s expertise to our growing list of offerings.”
Dr. Serge Rousselle, Co-Founder of Alizée Pathology, commented, “StageBio and Alizée have been working closely for years, and this union is a natural evolution of that relationship. The broad client base and services at StageBio, combined with the specialty expertise at Alizée, are a winning combination for our clients.” The merger adds laboratory space in Thurmont and Cumberland MD, as well as staff with experience in specialty medical devices and biomarkers/biologics that will complement the StageBio team based in Virginia, Massachusetts, Ohio, and Maryland. The combined company now employs 28 board-certified (ACVP) Veterinary Pathologists with a total employee base of over 150.
About StageBio 
StageBio is the leading provider of GLP-compliant research and preclinical histology, pathology and specimen archiving services for the biopharmaceutical, medical device and contract research industries. We provide our customers with a fully integrated breadth of histopathology services, including tissue analysis, efficacy determination for new compounds and devices, toxicological evaluation of products subject to FDA approval, detailed pathology reporting for GLP studies, medical device pathology and immunohistochemistry. We operate numerous state-of-the-art sites in Virginia, Massachusetts, Ohio, and Maryland, with substantial continued investment in our facility and technology infrastructures to meet the growing demand for high-quality histopathology services. We are ideally positioned to deliver on our unified commitment to quality, scientific integrity and customer service excellence. Additional information about StageBio is available at www.stagebio.com.
About Alizée Pathology 
Founded in 2010, Alizée Pathology is one of the leading preclinical medical device laboratories in North America. Founded and led by Drs. Serge Rousselle and Joan Wicks, Alizée provides GLP-compliant services in support of the development of novel devices and therapeutics. Alizée’s team is comprised of ACVP boarded Pathologists, PhDs, MDs and highly trained scientists who are focused on delivering clear, reproducible, and contextual results. Alizée services the following areas of preclinical medicine and science: bone repair, interventional medicine, oncology, inflammatory diseases, immunotherapy, regenerative medicine, surgical tools, pharmaceuticals and tissue phenotyping. Included among its staff are 4 board-certified (ACVP) Veterinary Pathologists, more than 20 highly trained histology technicians and scientists and a dedicated Quality Assurance (QA) unit. The entire team is committed to the highest quality work and excellent customer service. Additional information about Alizée is available at www.alizeepathology.com.
About Ampersand Capital Partners 
Founded in 1988, Ampersand is a middle market private equity firm dedicated to growth-oriented investments in the healthcare sector. With offices in Boston, MA and Amsterdam, Netherlands, Ampersand leverages a unique blend of private equity and operating experience to build value and drive superior long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of its core healthcare sectors, including Brammer Bio, Confluent Medical, Genewiz, Genoptix, Talecris Biotherapeutics and Viracor-IBT Laboratories. Additional information about Ampersand is available at www.ampersandcapital.com.
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<title>PE-backed Registrar Corp makes two acquisitions</title>
<link>https://www.pehub.com/2019/11/pe-backed-registrar-corp-makes-two-acquisitions/</link>
<comments>https://www.pehub.com/2019/11/pe-backed-registrar-corp-makes-two-acquisitions/#respond</comments>
<pubDate>Thu, 07 Nov 2019 15:27:55 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[M&A]]></category>
<category><![CDATA[Tech]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605648</guid>
<description><![CDATA[Registrar Corp, a provider of U.S. Food and Drug Administration compliance software and services to FDA-regulated facilities, has made two acquisitions: K Squared International LLC and Registration and Licensing Systems Inc, both of which provide product listing services to domestic and foreign FDA-regulated facilities. No financial terms were disclosed. Registrar is a portfolio company of Bertram Capital.]]></description>
<content:encoded><![CDATA[Registrar Corp, a provider of U.S. Food and Drug Administration compliance software and services to FDA-regulated facilities, has made two acquisitions: K Squared International LLC and Registration and Licensing Systems Inc, both of which provide product listing services to domestic and foreign FDA-regulated facilities. No financial terms were disclosed. Registrar is a portfolio company of Bertram Capital.
PRESS RELEASE
HAMPTON, Va., Nov. 7, 2019 /PRNewswire/ — Registrar Corp (“Registrar”), a leading provider of U.S. Food and Drug Administration (“FDA”) compliance software and services to FDA-regulated facilities worldwide and a portfolio company of Bertram Capital (“Bertram”), has continued its expansion with the recent acquisitions of K Squared International, LLC (“US Agent Services”) and Registration and Licensing Systems, Inc. (“RLS”). Both US Agent Services and RLS provide FDA registration, U.S. Agent, and product listing services to domestic and foreign FDA-regulated facilities, collectively supporting more than 500 clients worldwide. The transactions represent the second and third acquisitions made by Registrar since first partnering with Bertram in 2018.
Registrar provides clients with a broad service and software offering to support their compliance and monitoring needs. With over 150 Regulatory Advisors and Specialists, offices in 18 countries, and unique SaaS technology capabilities, Registrar continues to invest in resources to ensure its clients meet or exceed their compliance requirements.
“We partnered with Registrar because the company aligned exceptionally well with our targeted investment thesis around the Food Safety Modernization Act and with our Bertram High 5 buy and build strategy,” said Tom Beerle, Partner and deal lead for Registrar. “These two acquisitions, along with the acquisition of FDA Agents last year, support our goal of providing the most comprehensive suite of compliance solutions in the industry. We continue to seek business owners in the industry who wish to become part of our compliance platform.”
In addition to the recent acquisitions, Bertram Labs, the firm’s in-house software development and marketing services team, has actively supported Registrar’s development of enhanced compliance and monitoring solutions.
“When we were looking to bring in an investment partner last year, we knew we wanted a group that could help accelerate our technology roadmap,” said David Lennarz, Co-Founder and CEO of Registrar Corp. He added, “In the 15 months we have worked with Bertram, we have launched a number of innovative software tools that are completely new to the industry and are being enthusiastically adopted by our customers. We are also very excited about several significant product announcements coming in the next few months.”
The investment in US Agent Services and RLS represent the second and third acquisitions completed by Registrar Corp. In October 2018, the Company also completed the acquisition of FDA Agents, Inc. Bertram and Registrar will continue to actively target add-on acquisitions of regulatory compliance firms, software businesses, and other companies that can expand Registrar’s client base and range of services.
About Registrar Corp 
Registrar Corp was founded in 2003 to help businesses comply with U.S. FDA regulations. Since opening its headquarters in Hampton, Virginia, USA, Registrar Corp has expanded to eighteen international offices and has aided more than 30,000 companies across 160 countries. Employees include former U.S. FDA officials, scientists, and industry experts. Registrar Corp offers FDA compliance assistance for the food and beverage, medical device, drugs, cosmetics, electronics, and tobacco industries. Visit www.registrarcorp.com for more information.
About Bertram Capital 
Bertram Capital is a private equity firm with over $1.4 billion in committed capital targeting investments in lower middle market companies. In addition to supplying strategic growth capital, Bertram Capital leverages proprietary processes and services, Bertram High-5SM and Bertram Labs, to empower its portfolio companies to unlock their full business potential. The Bertram High-5SM is an operationally-focused value creation strategy, which includes management augmentation, operational initiative implementation, complimentary business acquisition, sales and marketing improvements and leveraging technology and IP. The cornerstone of this strategy is Bertram Labs, its in-house technology team, which drives growth and value through digital marketing, e-commerce, big data and analytics, application development and internal and external platform optimization. Visit www.bertramcapital.com for more information.
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<title>Goldman sells part of Taikang Life stake to Allianz for $1 bln: Bloomberg</title>
<link>https://www.pehub.com/2019/11/goldman-sells-part-of-taikang-life-stake-to-allianz-for-1-bln-bloomberg/</link>
<comments>https://www.pehub.com/2019/11/goldman-sells-part-of-taikang-life-stake-to-allianz-for-1-bln-bloomberg/#respond</comments>
<pubDate>Thu, 07 Nov 2019 11:59:28 +0000</pubDate>
<dc:creator><![CDATA[Luisa Beltran]]></dc:creator>
<category><![CDATA[Financial Services]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605629</guid>
<description><![CDATA[Allianz paid about $1 billion for part of Goldman Sachs’s stake in Taikang Life Insurance Co, a Chinese insurer, Bloomberg reported. Goldman sold a roughly 4 percent stake in Taikang to Allianz; Goldman will retain about 8.6 percent after the deal, the story said.]]></description>
<content:encoded><![CDATA[Allianz paid about $1 billion for part of Goldman Sachs’s stake in Taikang Life Insurance Co, a Chinese insurer, <a href="https://www.bloomberg.com/news/articles/2019-11-06/allianz-said-to-pay-1-billion-for-goldman-s-taikang-life-stake">Bloomberg reported</a>. Goldman sold a roughly 4 percent stake in Taikang to Allianz; Goldman will retain about 8.6 percent after the deal, the story said.
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<title>Shiseido closes Drunk Elephant buy</title>
<link>https://www.pehub.com/2019/11/shiseido-closes-drunk-elephant-buy/</link>
<comments>https://www.pehub.com/2019/11/shiseido-closes-drunk-elephant-buy/#respond</comments>
<pubDate>Thu, 07 Nov 2019 11:40:42 +0000</pubDate>
<dc:creator><![CDATA[Luisa Beltran]]></dc:creator>
<category><![CDATA[Consumer/Retail]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605625</guid>
<description><![CDATA[Shiseido Co Ltd said Nov. 7 that it completed its buy of Drunk Elephant, a prestige skincare brand. Financial terms weren’t announced. The sale <a href="https://www.pehub.com/2019/10/shiseido-to-buy-drunk-elephant/">was announced in October</a>. Press reports pegged the deal at $845 million.]]></description>
<content:encoded><![CDATA[Shiseido Co Ltd said Nov. 7 that it completed its buy of Drunk Elephant, a prestige skincare brand. Financial terms weren’t announced. The sale <a href="https://www.pehub.com/2019/10/shiseido-to-buy-drunk-elephant/">was announced in October</a>. Press reports pegged the deal at $845 million.
PRESS RELEASE
Shiseido Completes Acquisition of DRUNK ELEPHANT<img src="https://s.w.org/images/core/emoji/12.0.0-1/72x72/2122.png" alt="™" class="wp-smiley" style="height: 1em; max-height: 1em;" /> 
Welcomes Innovative, Rapidly-Growing Prestige Skincare Favorite to
Shiseido’s Global Portfolio
Strengthens Shiseido’s Leadership in the Global Prestige Skincare Market
 
TOKYO – November 7th, 2019; NEW YORK – November 7th, 2019 – Shiseido Company, Limited (Tokyo Stock Exchange, First Section: 4911) (“Shiseido”) today announced that Shiseido Americas Corporation (“Shiseido Americas”), a subsidiary of Shiseido, has completed its acquisition of DRUNK ELEPHANT<img src="https://s.w.org/images/core/emoji/12.0.0-1/72x72/2122.png" alt="™" class="wp-smiley" style="height: 1em; max-height: 1em;" /> (“Drunk Elephant”), a leading and fast-growing prestige skincare brand and a recognized expert in developing clean-compatible and effective products.
 
“Today marks an exciting moment for Shiseido and we are thrilled to welcome Drunk Elephant to the Shiseido family,” said Marc Rey, CEO, Shiseido Americas and Chief Growth Officer of Shiseido. “Drunk Elephant’s strong brand foundation and unique philosophy fit perfectly with Shiseido’s values and skincare heritage. We are confident that we will be able to further strengthen and support Drunk Elephant on its ongoing growth trajectory, expanding the brand into new and existing markets both in the Americas and internationally. We look forward to capitalizing on the significant opportunities ahead.”
 
ABOUT SHISEIDO COMPANY, LIMITED
Shiseido was founded in 1872 as the first Western-style pharmacy in Japan. The business gradually evolved into a cosmetics company, offering people the most advanced technology and the finest aesthetics available in the East or the West. Now known globally as the premier cosmetics company with roots in Japan, the name Shiseido has come to represent the world’s highest standards of quality. Shiseido’s global selection of skincare, makeup and fragrance includes a high-performance category for special skincare, and a brightening line. Shiseido also offers body care, suncare and a skincare line for men. Fiercely contemporary and innovative after nearly 150 years in business, Shiseido group brands are now sold in over 120 countries and regions. For more information, please visit <a href="https://protect-eu.mimecast.com/s/l-ApClRXGF2kLoXt9si7d?domain=shiseidogroup.com">www.shiseidogroup.com</a>
 
 
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<title>PE-backed Time acquires BrandFX</title>
<link>https://www.pehub.com/2019/11/pe-backed-time-acquires-brandfx/</link>
<comments>https://www.pehub.com/2019/11/pe-backed-time-acquires-brandfx/#respond</comments>
<pubDate>Wed, 06 Nov 2019 21:41:32 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Industrial/Manufacturing]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605607</guid>
<description><![CDATA[Time Manufacturing Company, a portfolio company of The Sterling Group, has acquired Fort Worth, Texas-based BrandFX, a maker of advanced composite service bodies, line bodies, inserts, toppers and covers. No financial terms were disclosed.]]></description>
<content:encoded><![CDATA[Time Manufacturing Company, a portfolio company of The Sterling Group, has acquired Fort Worth, Texas-based BrandFX, a maker of advanced composite service bodies, line bodies, inserts, toppers and covers. No financial terms were disclosed.
PRESS RELEASE
HOUSTON, Nov. 6, 2019 /PRNewswire/ — The Sterling Group, a Houston-based middle market private equity firm, announced today that one of its portfolio companies, Time Manufacturing Company (“Time”), has completed the acquisition of BrandFX.
Headquartered in Waco, Texas, Time is a global designer, manufacturer, and distributor of vehicle-mounted aerial lifts primarily for the electric utility, telecom, infrastructure, and forestry end markets. Time goes to market via several industry-leading brands, including the Versalift line of aerial lifts and digger derricks, and the Aspen Aerials line of under-bridge inspection units.
Headquartered in Fort Worth, Texas, BrandFX is a market-leading manufacturer of advanced composite service bodies, line bodies, inserts, toppers and covers. Founded in 1984, BrandFX has served as a longstanding leader in the industry, with a reputation for quality, innovation, engineering and lightweight and durable line of products. “The addition of BrandFX’s complementary product line further enhances Time’s ability to offer our customers the most reliable equipment at the lowest true cost of ownership,” said Curt Howell, CEO of Time.
With the acquisition of BrandFX, Time Manufacturing Company will employ more than 1,400 associates at 25 locations worldwide. BrandFX is Time’s sixth acquisition in the last two years.
About The Sterling Group 
Founded in 1982, The Sterling Group is a private equity investment firm that targets controlling interests in basic manufacturing, distribution and industrial services companies. Typical enterprise values of these companies range from $100 million to $750 million. Sterling has sponsored the buyout of 55 platform companies and numerous add-on acquisitions for a total transaction value of over $10.0 billion. Currently, Sterling has over $2.0 billion of assets under management. For further information, please visit www.sterling-group.com.
Past performance is no guarantee of future results and all investments are subject to loss.
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<title>Seismic buys VC-backed Percolate</title>
<link>https://www.pehub.com/2019/11/seismic-buys-vc-backed-percolate/</link>
<comments>https://www.pehub.com/2019/11/seismic-buys-vc-backed-percolate/#respond</comments>
<pubDate>Wed, 06 Nov 2019 16:45:29 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[M&A]]></category>
<category><![CDATA[Tech]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605562</guid>
<description><![CDATA[Seismic has acquired Percolate, a marketing campaign orchestration and content management platform. No financial terms were disclosed. Percolate's backers include GGV Capital, Sequoia, Lightspeed and Capital IP Investment Partners.]]></description>
<content:encoded><![CDATA[Seismic has acquired Percolate, a marketing campaign orchestration and content management platform. No financial terms were disclosed. Percolate’s backers include GGV Capital, Sequoia, Lightspeed and Capital IP Investment Partners.
PRESS RELEASE
SAN DIEGO and NEW YORK, Nov. 5, 2019 /PRNewswire/ — Seismic, the market leader for sales enablement platforms, today announced the acquisition of Percolate, a leading marketing campaign orchestration and content management platform. With this acquisition, Seismic strengthens its ability for marketers to deliver personalized and compelling content throughout the entire customer journey and across all channels. This includes initial customer engagement via email, social, and other channels, as well as across customer-facing teams, such as sellers, customer success representatives, and partners.
The acquisition will result in an offering that enables marketers to have full control and oversight into how their content impacts this new buyer landscape. By combining Seismic’s industry leading sales enablement and asset management functionality with Percolate’s content orchestration and campaign planning tools, marketers will have comprehensive control and agility to efficiently align the most compelling and personalized content wherever and whenever the customer interacts with their brand. The unification of two essential pillars in the marketing technology stack will also offer comprehensive insights and data for marketers to make full-scale, intelligent improvements to their entire content investment.
“Marketers understand that producing personalized, compelling content is foundational to providing value to their company’s bottom line and therefore the business at large,” said Doug Winter, Seismic co-founder and CEO. “Percolate will be essential in helping Seismic widen our industry lead in enabling marketers do so in one-to-one customer interactions while also expanding our combined capabilities into all content initiatives and distribution channels.”
Due to rapid changes in buyer behavior and expectations, non-personalized content is now an unacceptable marketing practice. In August, Forrester Consulting found that 85 percent of enterprises agree that buyers will dismiss their brand if they don’t provide tailored information. At the same time, the streamlined and linear “purchase funnel” has been rendered obsolete, with Gartner noting that buyers revisit each of the six buying “stages” at least once during their purchase.
“Seismic and Percolate have both built their success on the principle that content is at the heart of the modern buyer experience,” said Randy Wootton, CEO of Percolate. “Both of our companies endeavor to foster better alignment between marketing and sales and improve the buyer/seller interaction, resulting in accelerated deals and pipeline for our customers. Combining with Seismic allows Percolate to provide even more capability to our customer base and more value to the marketing ecosystem.”
Founded in 2011, Percolate has grown into one of the leaders in the enterprise content marketing space, with customers that span both business and consumer brands including DHL, Electronic Arts, VMWare, and DocuSign. Wootton will join Seismic’s senior leadership team and continue to lead the Percolate team, reporting directly into Seismic CEO Doug Winter.
With the acquisition, Seismic boasts a roster of 750 customers. Headcount exceeds 800 across 12 offices.
For more information about Seismic, visit seismic.com/product/.
About Seismic 
Seismic is the recognized leader in sales and marketing enablement, equipping global sales teams with the knowledge, messaging, and automatically personalized content proven to be the most effective for any buyer interaction. Powerful content intelligence and analytics enable marketers to prove and improve their impact on the bottom line, revealing what is really driving revenue and what needs to be adjusted. The result for global enterprises like IBM, American Express, PayPal, and Quest Diagnostics is better win rates, larger deals, and higher customer retention. Seismic is headquartered in San Diego with additional offices in North America, Europe, and Australia.
To see how Seismic is being used by companies in your industry, visit seismic.com.
About Percolate 
Percolate is an Orchestration Hub that gives marketers the power to control all aspects of the marketing lifecycle. Percolate offers solutions to introduce visibility into the marketing process, improve coordination of work, and effectively build marketing campaigns and content. The world’s largest enterprises — including Mazda, IWG, Robert Bosch, and Rockwell Automation — use Percolate to create a coordinated customer experience, reduce production costs, and understand marketing impact.
 
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<title>PE-backed Mission Critical Electronics acquires Purkeys Fleet Eletric</title>
<link>https://www.pehub.com/2019/11/pe-backed-mission-critical-electronics-acquires-purkeys-fleet-eletric/</link>
<comments>https://www.pehub.com/2019/11/pe-backed-mission-critical-electronics-acquires-purkeys-fleet-eletric/#respond</comments>
<pubDate>Wed, 06 Nov 2019 16:02:00 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Energy/Power]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605555</guid>
<description><![CDATA[Mission Critical Electronics, which is backed by Windjammer Capital Investors, has acquired Purkeys Fleet Electric, a provider of electric power solutions to truck fleets, liftgate manufacturers, trailer manufacturers, truck dealers and truck original equipment manufacturers. No financial terms were disclosed.]]></description>
<content:encoded><![CDATA[Mission Critical Electronics, which is backed by Windjammer Capital Investors, has acquired Purkeys Fleet Electric, a provider of electric power solutions to truck fleets, liftgate manufacturers, trailer manufacturers, truck dealers and truck original equipment manufacturers. No financial terms were disclosed.
PRESS RELEASE
November 6, 2019 — Windjammer Capital Investors (“Windjammer”) is pleased to announce that its portfolio company, Mission Critical Electronics (“MCE”), has acquired Purkeys Fleet Electric (“Purkeys”). Purkeys is a North American leader in the development, manufacturing, and distribution of electric power solutions to truck fleets, liftgate manufacturers, trailer manufacturers, truck dealers, and truck Original Equipment Manufacturers (OEMs). Purkeys’ primary product range includes liftgate charging systems, inverters, harnesses, solar power solutions, and ancillary products. Financial details of the transaction were not disclosed.
Kevin Moschetti, Chief Executive Officer of MCE, said, “We are delighted to have Purkeys join MCE. The company has a strong reputation for being a reliable, trusted partner of truck fleet operators, solving electrical system problems, and introducing product solutions to meet customer needs. Purkeys’ combination of products, end markets, and distribution partners are highly complementary to MCE and will bring a nice mix of aftermarket sales to our Vehicle Power business.”
“We at Purkeys are thrilled with the opportunity afforded us by joining forces with MCE,” said Purkeys CEO, Justin Purkey. “Our focus has always been on providing our customers and industry partners with the best service possible to help them keep their trucks on the road. MCE has the scale and resources to help us grow faster so that we can put even more effort into solving our customers’ challenges. Our industry partners, our customers, and our employees will all benefit from this partnership.”
Windjammer Managing Director Matt Anderson added, “We are excited to partner with and support the management team at MCE in their ongoing organic and acquisition-oriented growth strategies. The Purkeys brand is a great fit with MCE’s Xantrex and Kussmaul brands in the vehicle power space and provides ample product and commercial facing synergies that will benefit the consolidated customer base. This transaction is a significant and strategic step to further serve the fast-growing customer demand for vehicle electrification solutions.”
Mission Critical Electronics, based in Huntington Beach, California is a market leading provider of power conversion, generation, and storage solutions within niche vehicle, marine, network, industrial and portable power markets. The company designs, manufactures, and distributes its products to a global customer base, working to keep customer applications energized and ready by delivering power solutions where quality and responsiveness matter.
About Windjammer 
Windjammer Capital is a national private equity investment firm, based in Newport Beach, CA and Waltham, MA that invests control equity in middle‐market businesses and in partnership with management. Since its founding in 1990, Windjammer has managed over $2 billion of committed capital with respect to its control equity investment strategy, and has completed over 50 platform acquisitions and over 100 strategic add‐ons. The firm targets investments in companies that are leaders in attractive niche markets and share several of the following characteristics: significant and defensible market positions; differentiated products and services; strong management teams; scalable business models; identifiable growth opportunities; and consistent financial performance.
www.windjammercapital.com
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<title>Clearlake-backed Gravity to buy On Point</title>
<link>https://www.pehub.com/2019/11/clearlake-backed-gravity-to-buy-on-point/</link>
<comments>https://www.pehub.com/2019/11/clearlake-backed-gravity-to-buy-on-point/#respond</comments>
<pubDate>Wed, 06 Nov 2019 15:34:38 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Energy/Power]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605535</guid>
<description><![CDATA[Gravity, which is backed by Clearlake Capital Group LP, has agreed to acquire Austin-based On Point, a water midstream company focused on gathering and disposal operations in the Midland Basin. The seller is White Deer Energy. No financial terms were disclosed.]]></description>
<content:encoded><![CDATA[Gravity, which is backed by Clearlake Capital Group LP, has agreed to acquire Austin-based On Point, a water midstream company focused on gathering and disposal operations in the Midland Basin. The seller is White Deer Energy. No financial terms were disclosed.
PRESS RELEASE
MIDLAND, Texas, November 6, 2019 — Gravity, a leading water and energy infrastructure company backed by affiliates of Clearlake Capital Group, L.P. (“Clearlake”), today announced it has signed a definitive agreement to acquire On Point Oilfield Holdings, LLC (“On Point”) from White Deer Energy. On Point is a contracted produced water midstream company focused on gathering and disposal operations in the Midland Basin. Gravity’s acquisition of On Point will create the largest commercial produced water disposal company by injection volumes in the Midland Basin.
On Point’s water infrastructure asset base adds 17 new saltwater disposal wells and more than 432,500 barrels per day of permitted disposal capacity to Gravity’s existing water midstream business. On Point has obtained saltwater disposal permits for 120,000 barrels per day of additional permitted disposal capacity and the right to develop disposal permits for an additional 305,000 barrels per day of capacity targeting the Ellenburger formation. Financial terms of the transaction are not being disclosed.
Pro forma for the acquisition, Gravity will own and manage more than 50 active saltwater disposal wells with more than 1 million barrels per day of permitted disposal capacity. In connection with the closing of the acquisition, Trace Hight, founder and CEO of On Point, will join Gravity as its Chief Commercial Officer of Water Infrastructure.
Rob Rice, Gravity’s President and Chief Executive Officer, stated, “This acquisition is transformational for Gravity and enables the company to offer expanded water handling infrastructure for producers operating in the core of the Midland Basin. Gravity continues to focus on providing the most reliable and efficient produced water gathering and disposal infrastructure for its customers. We are excited to expand our platform and welcome On Point and its proven management team to Gravity.”
“This transaction represents a critical step in Gravity’s continued evolution into a premier, integrated water midstream platform with leading scale in the Permian Basin. Gravity is the dominant produced water platform in the core of the Midland Basin, which is one of the most active oil and gas regions in the country,” said José E. Feliciano, Chairman of Gravity and Co-Founder and Managing Partner of Clearlake, and Colin Leonard, a Partner at Clearlake. “We are excited to leverage Gravity’s enhanced scale to fuel organic growth by capitalizing on significant business development opportunities driven by Gravity’s customers’ desire to address their rapidly expanding produced water handling needs through contracted, long-term agreements.”
About Gravity 
Gravity is a growth-oriented provider of energy infrastructure services to U.S. onshore oil and natural gas exploration and production companies, providing water midstream solutions, critical power generation offerings and other production focused services. Gravity has significant coverage density in the Permian Basin and benefits from a national footprint supported by facilities, operations and management personnel in several other key domestic resource plays including the Bakken, Eagle Ford, SCOOP/STACK, DJ Basin, Haynesville and Marcellus, among others. More information is available at www.gvty.com.
About On Point 
On Point is an Austin, Texas based midstream water company that acquires, develops, and operates saltwater disposal wells and saltwater pipeline infrastructure in the Permian Basin. More information is available at www.onpointoilfield.com.
About Clearlake Capital Group 
Clearlake Capital Group, L.P. is a leading private investment firm founded in 2006. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are industrials and energy; software and technology-enabled services; and consumer. Clearlake has managed over $10 billion of institutional capital since inception and its senior investment principals have led or co-led over 100 investments. More information is available at www.clearlake.com.
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<title>MPE sells B&E Group’s OEM manufacturing unit</title>
<link>https://www.pehub.com/2019/11/mpe-sells-be-groups-oem-manufacturing-unit/</link>
<comments>https://www.pehub.com/2019/11/mpe-sells-be-groups-oem-manufacturing-unit/#respond</comments>
<pubDate>Wed, 06 Nov 2019 15:23:37 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Industrial/Manufacturing]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605526</guid>
<description><![CDATA[MPE Partners has sold the B&E Group's OEM manufacturing division to Cadence Aerospace, which is backed by Arlington Capital Partners. No financial terms were disclosed. Based in Southwick, Massachusetts, B&E Group is a maker of complex, precision machined aerospace and defense components.]]></description>
<content:encoded><![CDATA[MPE Partners has sold the B&E Group‘s OEM manufacturing division to Cadence Aerospace, which is backed by Arlington Capital Partners. No financial terms were disclosed. Based in Southwick, Massachusetts, B&E Group is a maker of complex, precision machined aerospace and defense components.
PRESS RELEASE
CLEVELAND and BOSTON, Nov. 6, 2019 /PRNewswire/ — MPE Partners (“MPE” or “Morgenthaler Private Equity”), a preferred partner for entrepreneur- and family-owned companies, announced the sale of the OEM Manufacturing Division of the B&E Group (“the B&E Group” or “the Company”) to Cadence Aerospace, a portfolio company of Arlington Capital Partners. The B&E Group, headquartered in Southwick, MA, is a manufacturer of complex, precision machined aerospace and defense components.
Bob Quaglia, COO and President of the B&E Group, remarked, “MPE served as a great strategic partner and sounding board for our team as we executed on an aggressive growth plan, developed our best-in-class employee base, and further enhanced our robust manufacturing capabilities. We have enjoyed the partnership with MPE and are proud of the foundation we have built together.” 
Peter Taft, Partner at MPE, added, “We are proud of the investment made into both the people and the infrastructure to support the Company’s growth trajectory, as the B&E Group was able to scale successfully and nearly double its earnings organically since our original investment.”
Charlie Rossetti, Principal at MPE, added, “It has been an absolute pleasure to work with Bob and the team at the B&E Group. The employees of the B&E Group are truly one-of-a-kind, and we thank them for their persistent efforts to look after their customers and drive the business further every day. We wish them the best of luck as they take the next step in their journey.”
Houlihan Lokey advised the B&E Group on the transaction and Jones Day served as legal counsel. Terms of the transaction were not disclosed.
About MPE Partners 
MPE Partners (“MPE” or “Morgenthaler Private Equity”) seeks to be the preferred partner for entrepreneur- and family-owned companies. Based in Cleveland, OH, and Boston, MA, MPE invests in profitable, lower middle market companies with EBITDA between $5 – $20 million. MPE has two primary target investment areas: high-value manufacturing and commercial & industrial services. For more information, please visit www.mpepartners.com.
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<title>PE-backed MacQueen Group buys Temco Machinery/Global Emergency Products</title>
<link>https://www.pehub.com/2019/11/pe-backed-macqueen-group-buys-temco-machinery-global-emergency-products/</link>
<comments>https://www.pehub.com/2019/11/pe-backed-macqueen-group-buys-temco-machinery-global-emergency-products/#respond</comments>
<pubDate>Wed, 06 Nov 2019 15:16:13 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Industrial/Manufacturing]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605520</guid>
<description><![CDATA[MacQueen Group, a portfolio company of Rotunda Capital Partners, has acquired Temco Machinery Inc./Global Emergency Products. No financial terms were disclosed.]]></description>
<content:encoded><![CDATA[MacQueen Group, a portfolio company of Rotunda Capital Partners, has acquired Temco Machinery Inc./Global Emergency Products. No financial terms were disclosed.
PRESS RELEASE
ST. PAUL, Minn.–(BUSINESS WIRE)–MacQueen Group, a Rotunda Capital Partners portfolio company, has acquired Temco Machinery Inc./Global Emergency Products. MacQueen Group is now the exclusive Pierce and Oshkosh Airport Products dealer of Illinois and Indiana.
With this acquisition, MacQueen Emergency became one of the largest Pierce dealers in the U.S., covering a seven-state territory: Illinois, Indiana, Minnesota, Missouri, Nebraska, North Dakota and South Dakota. In addition to mobile service, the MacQueen Group operates 10 service locations throughout the Midwest, repairing all makes and models of fire apparatus, ambulance and heavy equipment.
The MacQueen Group has also absorbed Temco Machinery Inc., the equipment arm of the Temco/Global brand. MacQueen Equipment will now represent Oshkosh Airport Products in Illinois, Indiana and Kentucky. MacQueen Equipment currently represents Oshkosh in Iowa, Minnesota, Nebraska and Wisconsin, along with several heavy equipment brands including Elgin®, Envirosight, Trackless, TRUVAC®, Vactor® and Wausau<img src="https://s.w.org/images/core/emoji/12.0.0-1/72x72/2122.png" alt="™" class="wp-smiley" style="height: 1em; max-height: 1em;" />.
“I’m extremely proud of the business our team has built,” said Mike Mikoola, President and CEO of Global Emergency. “The synergies between MacQueen and Global/Temco are unmatched. MacQueen knows the people, the product lines, the systems—to me it’s a marriage made in heaven. I know our customers can count on MacQueen the way they’ve counted on Global for 41 years.”
Global is currently headquartered in Aurora, Illinois, with additional service facilities in Peoria, Illinois and Indianapolis, Indiana. 
St. Paul, Minnesota-based MacQueen Emergency is known for its large-scale parts inventory, hands-on operator training and multi-state service network. MacQueen CEO and President Dan Gage said this acquisition was a natural fit.
“Global employees and locations will stay the same,” said Gage, “but customers can expect to see a stronger focus on parts, service and emergency equipment.”
About MacQueen Group 
The MacQueen Group offers a mix of municipal, fire and safe dig equipment including street sweepers, sewer cleaners, refuse trucks, snow removal equipment, fire trucks, and vacuum excavators. MacQueen has ten locations in the upper Midwest with its headquarters in St. Paul, Minnesota. In addition to sales, MacQueen offers quality support by offering a large parts inventory, local service centers, mobile service capabilities, and specialized operator training. For more: https://www.macqueeneq.com/firerescue/.
About Rotunda Capital 
Rotunda Capital Partners is a private equity firm that invests equity capital in established and profitable lower middle market companies. The firm uses a rigorous approach to identify market-leading companies with identifiable growth opportunities and capable management teams in targeted sectors, including distribution, logistics, specialty finance, and business services. Rotunda Capital partners with management to build data-driven growth platforms. Since 2009, Rotunda Capital has completed twelve platform investments and realized five exits. The partners of Rotunda Capital actively provide guidance and draw on deep industry and financial relationships to contribute to the successful execution of Rotunda’s companies’ strategic plans. For more, visit www.rotundacapital.com.
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<title>Clearlake-backed Gravity to buy On Point Oilfield</title>
<link>https://www.pehub.com/2019/11/clearlake-backed-gravity-to-buy-on-point-oilfield/</link>
<comments>https://www.pehub.com/2019/11/clearlake-backed-gravity-to-buy-on-point-oilfield/#respond</comments>
<pubDate>Wed, 06 Nov 2019 11:41:50 +0000</pubDate>
<dc:creator><![CDATA[Luisa Beltran]]></dc:creator>
<category><![CDATA[Energy/Power]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605474</guid>
<description><![CDATA[Gravity, a Clearlake Capital Group portfolio company, said Nov. 6 that it agreed to buy On Point Oilfield Holdings LLC. White Deer Energy is the seller. Financial terms weren’t announced. On Point is a contracted produced water midstream company focused on gathering and disposal operations in the Midland Basin.]]></description>
<content:encoded><![CDATA[Gravity, a Clearlake Capital Group portfolio company, said Nov. 6 that it agreed to buy On Point Oilfield Holdings LLC. White Deer Energy is the seller. Financial terms weren’t announced. On Point is a contracted produced water midstream company focused on gathering and disposal operations in the Midland Basin.
PRESS RELEASE
GRAVITY TO ACQUIRE ON POINT, A PERMIAN BASIN FOCUSED WATER MIDSTREAM GATHERING AND DISPOSAL COMPANY
 
Creates the Largest Commercial Saltwater Disposal Company in the Midland Basin
 
MIDLAND, Texas, November 6, 2019 — Gravity, a leading water and energy infrastructure company backed by affiliates of Clearlake Capital Group, L.P. (“Clearlake”), today announced it has signed a definitive agreement to acquire On Point Oilfield Holdings, LLC (“On Point”) from White Deer Energy. On Point is a contracted produced water midstream company focused on gathering and disposal operations in the Midland Basin. Gravity’s acquisition of On Point will create the largest commercial produced water disposal company by injection volumes in the Midland Basin.
 
On Point’s water infrastructure asset base adds 17 new saltwater disposal wells and more than 432,500 barrels per day of permitted disposal capacity to Gravity’s existing water midstream business. On Point has obtained saltwater disposal permits for 120,000 barrels per day of additional permitted disposal capacity and the right to develop disposal permits for an additional 305,000 barrels per day of capacity targeting the Ellenburger formation. Financial terms of the transaction are not being disclosed.
 
Pro forma for the acquisition, Gravity will own and manage more than 50 active saltwater disposal wells with more than 1 million barrels per day of permitted disposal capacity. In connection with the closing of the acquisition, Trace Hight, founder and CEO of On Point, will join Gravity as its Chief Commercial Officer of Water Infrastructure.
 
Rob Rice, Gravity’s President and Chief Executive Officer, stated, “This acquisition is transformational for Gravity and enables the company to offer expanded water handling infrastructure for producers operating in the core of the Midland Basin. Gravity continues to focus on providing the most reliable and efficient produced water gathering and disposal infrastructure for its customers. We are excited to expand our platform and welcome On Point and its proven management team to Gravity.”
 
“This transaction represents a critical step in Gravity’s continued evolution into a premier, integrated water midstream platform with leading scale in the Permian Basin. Gravity is the dominant produced water platform in the core of the Midland Basin, which is one of the most active oil and gas regions in the country,” said José E. Feliciano, Chairman of Gravity and Co-Founder and Managing Partner of Clearlake, and Colin Leonard, a Partner at Clearlake. “We are excited to leverage Gravity’s enhanced scale to fuel organic growth by capitalizing on significant business development opportunities driven by Gravity’s customers’ desire to address their rapidly expanding produced water handling needs through contracted, long-term agreements.”
 
About Gravity
Gravity is a growth-oriented provider of energy infrastructure services to U.S. onshore oil and natural gas exploration and production companies, providing water midstream solutions, critical power generation offerings and other production focused services. Gravity has significant coverage density in the Permian Basin and benefits from a national footprint supported by facilities, operations and management personnel in several other key domestic resource plays including the Bakken, Eagle Ford, SCOOP/STACK, DJ Basin, Haynesville and Marcellus, among others. More information is available at <a href="https://protect-eu.mimecast.com/s/iUQeCLZ04TRXQZMhqyqJF?domain=gvty.com">www.gvty.com</a>.
 
About On Point
On Point is an Austin, Texas based midstream water company that acquires, develops, and operates saltwater disposal wells and saltwater pipeline infrastructure in the Permian Basin. More information is available at <a href="https://protect-eu.mimecast.com/s/h0DQCNOX4h09jG5URld2G?domain=onpointoilfield.com">www.onpointoilfield.com</a>.
 
About Clearlake Capital Group
Clearlake Capital Group, L.P. is a leading private investment firm founded in 2006. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are industrials and energy; software and technology-enabled services; and consumer. Clearlake has managed over $10 billion of institutional capital since inception and its senior investment principals have led or co-led over 100 investments. More information is available at <a href="https://protect-eu.mimecast.com/s/z4gUCPjg4sKZ3kAFrQT01?domain=clearlake.com">www.clearlake.com</a>.
 
 
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<title>Goldner Hawn-backed Stouse buys Magna Plus</title>
<link>https://www.pehub.com/2019/11/goldner-hawn-backed-stouse-buys-magna-plus/</link>
<comments>https://www.pehub.com/2019/11/goldner-hawn-backed-stouse-buys-magna-plus/#respond</comments>
<pubDate>Tue, 05 Nov 2019 19:19:51 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Consumer/Retail]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605409</guid>
<description><![CDATA[Stouse, which is backed by Goldner Hawn, has acquired Kansas-based Magna Plus, a wholesale provider of custom printed labels, magnets, and other promotional products. No financial terms were disclosed.]]></description>
<content:encoded><![CDATA[Stouse, which is backed by Goldner Hawn, has acquired Kansas-based Magna Plus, a wholesale provider of custom printed labels, magnets, and other promotional products. No financial terms were disclosed.
PRESS RELEASE
Stouse, LLC, a Goldner Hawn portfolio company, completed the acquisition of Magna Plus. Headquartered a few miles from Stouse in Kansas City, KS, Magna Plus is a well-known wholesale provider of custom printed labels, magnets, and other promotional products and serves distributors nationwide in the promotional products and commercial printing sectors. Magna Plus brings added sales and production capabilities to the Stouse platform, a seamless fit as Stouse continues to invest for growth.
About Stouse 
Stouse is a specialty printer of wholesale decals, magnets, roll labels, signs and plastic products. Stouse continues to invest heavily in digital printing technology, acquiring three new digital presses in 2019 alone. In addition, the company has revamped its entire digital marketing platform and expanded its product offerings throughout the year. Later this year, the company plans to launch a highly customized and comprehensive line of paperboard folding cartons to serve the rapidly expanding market demand for personalization. For more information, visit www.stouse.com.
About Goldner Hawn 
Goldner Hawn was founded in 1989 in Minneapolis, Minnesota and has been a source of private capital to leading lower middle market companies for the past 30 years. With an investment philosophy centered on the principle of partnership, Goldner Hawn is looking to back management teams of businesses with $5 million to $20 million of EBITDA in industries including industrial manufacturing, value-added distribution, consumer products and services, and outsourced business services. Goldner Hawn has made over 40 platform investments in companies with total transaction values approaching $3 billion. For more information, call 612-338-5912 or visit www.goldnerhawn.com.
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<title>Audax-backed Axia acquires OB/GYN of Indiana</title>
<link>https://www.pehub.com/2019/11/audax-backed-axia-acquires-ob-gyn-of-indiana/</link>
<comments>https://www.pehub.com/2019/11/audax-backed-axia-acquires-ob-gyn-of-indiana/#respond</comments>
<pubDate>Tue, 05 Nov 2019 19:18:17 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Healthcare]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605407</guid>
<description><![CDATA[Axia Women's Health, which is backed by Audax Private Equity, has acquired Indianapolis-based Obstetrics & Gynecology of Indiana, a provider of women’s health services. No financial terms were disclosed.]]></description>
<content:encoded><![CDATA[Axia Women’s Health, which is backed by Audax Private Equity, has acquired Indianapolis-based Obstetrics & Gynecology of Indiana, a provider of women’s health services. No financial terms were disclosed.
PRESS RELEASE
Audax Private Equity portfolio company, Axia Women’s Health, acquires OB/GYN of Indiana
The Company 
Obstetrics & Gynecology of Indiana LLC (“OB/GYN of Indiana”) is a leading provider of women’s health services in the state of Indiana.
Headquartered in Indianapolis, OB/GYN of Indiana is comprised of ~40 physicians and operates nine locations in Indiana. OB/GYN of Indiana was founded in 1993 to advance the delivery of obstetrical and gynecological care for women in the Central Indiana area and has since expanded into a leading provider of comprehensive women’s health services, including OB/GYN, MFM (perinatal), and mammography services.
The Deal 
Axia Women’s Health, a portfolio company of Audax Private Equity (“Audax”) has completed a partnership with Obstetrics & Gynecology of Indiana, representing the company’s eighth acquisition and first acquisition outside of Pennsylvania and New Jersey. The transaction launches Axia’s presence into the Midwest market and adds to Axia’s ancillary service offerings.
The Thesis 
Audax formed Axia in March 2017 as a leading provider of women’s health services in Pennsylvania and New Jersey, with the thesis of growing the company through organic initiatives (such as improved patient care, ancillary services, and value-based reimbursement programs) and add-on acquisitions. OB/GYN of Indiana represents Axia’s eighth acquisition and a significant step towards creating a national women’s health platform.
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<title>Riverside-backed SureWerx acquires Sure Foot</title>
<link>https://www.pehub.com/2019/11/riverside-backed-surewerx-acquires-sure-foot/</link>
<comments>https://www.pehub.com/2019/11/riverside-backed-surewerx-acquires-sure-foot/#respond</comments>
<pubDate>Tue, 05 Nov 2019 19:14:08 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Consumer/Retail]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605400</guid>
<description><![CDATA[SureWerx, a portfolio company of The Riverside Company has acquired Sure Foot, a provider of footwear traction aid products. No financial terms were disclosed.]]></description>
<content:encoded><![CDATA[SureWerx, a portfolio company of The Riverside Company has acquired Sure Foot, a provider of footwear traction aid products. No financial terms were disclosed.
PRESS RELEASE
SureWerx, a portfolio company of The Riverside Company and leading supplier of professional safety products, tools and equipment, has acquired Sure Foot Corporation. Sure Foot, the innovative company behind the Due North® brand, offers a comprehensive portfolio of multi-purpose footwear traction aid products. Traction aids are lightweight and fit over footwear to minimize slips and falls on ice and snow, which reduces employee injuries and allows safe enjoyment during outdoor activities.
Established more than 35 years ago, Sure Foot has been a pioneer in the development and advancement of the fast-growing footwear traction aids category. Today, Due North® remains a leading brand in this safety category, reinforced by its patented replaceable spike technology and all-natural rubber webbing that ensure maximum life, performance and safety across broad industrial and consumer use-cases.
“We’re excited to add Sure Foot into the SureWerx product portfolio,” said Riverside Managing Partner Suzy Kriscunas. “Leveraging SureWerx’s extensive sales and marketing resources, we can help take an already successful brand like Due North and rapidly expand into additional markets. This acquisition furthers our goal to become a global leader in safety and productivity.”
Sure Foot is SureWerx’s third acquisition since Riverside acquired the platform in November 2018. Riverside is actively supporting SureWerx’s efforts to add complementary new products and categories and deliver best-in-class service to its growing, global network of loyal distributors and end-users.
“Sure Foot has attained its leading market position through a combination of high-quality products recognized for durability and functionality in harsh weather conditions and strong emphasis on customer relationships and service,” said Riverside Partner Brad Roberts. “We are excited to partner with Sure Foot to expand its reach and broaden SureWerx’s range of safety products for its customer base.”
Sure Foot’s Due North® brand joins the SureWerx family of highly respected safety brands including Jackson Safety®, Wilson®, Sellstrom®, Pioneer®, KneePro, PeakWorks® and ADA Solutions®. 
Working with Kriscunas and Roberts on the deal were Operating Partner Eric Nowlin, Vice President Constantine Elefter, Senior Associate Linda Xu and Associate Tom Wyza. Origination Regional Director Polly Mack sourced the deal for Riverside and Partner Anne Hayes helped secure financing.
Golub Capital provided debt financing for the deal. Jones Day and BKD supported the transaction as the legal counsel and accounting advisor, respectively. Aramar Capital Group acted as the financial advisor to Sure Foot.
The Riverside Company 
The Riverside Company is a global private equity firm focused on investing in growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has made more than 600 investments. The firm’s international private equity and structured capital portfolios include more than 100 companies.
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<title>PE-backed Hub buys RBI Advisory Group</title>
<link>https://www.pehub.com/2019/11/pe-backed-hub-buys-rbi-advisory-group/</link>
<comments>https://www.pehub.com/2019/11/pe-backed-hub-buys-rbi-advisory-group/#respond</comments>
<pubDate>Tue, 05 Nov 2019 16:52:36 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Financial Services]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605358</guid>
<description><![CDATA[Hub International Limited, a global insurance brokerage, has acquired Okotoks, Alberta-based RBI Advisory Group, a provider of group benefit advisory services to employers and associations. No financial terms were disclosed. Hub is backed by Altas Partners and Hellman & Friedman.]]></description>
<content:encoded><![CDATA[Hub International Limited, a global insurance brokerage, has acquired Okotoks, Alberta-based RBI Advisory Group, a provider of group benefit advisory services to employers and associations. No financial terms were disclosed. Hub is backed by Altas Partners and Hellman & Friedman.
PRESS RELEASE
CHICAGO, Nov. 4, 2019 /CNW/ — Hub International Limited (Hub), a leading global insurance brokerage, announced today that it has acquired R Bruce Inc. d/b/a RBI Advisory Group (RBI Advisory Group). Terms of the transaction were not disclosed.
Located in Okotoks, Alberta, Canada, RBI Advisory Group has provided strategic group benefit advisory services to employers and associations for nearly 20 years.
Rick Achtymichuk, Managing Partner and Owner of RBI Advisory Group, will join Hub International Insurance Brokers, a division of Hub International Canada West ULC (Hub Canada West).
The move continues to reinforce Hub’s ongoing Canadian employee benefits growth and services strategy to expand its best-in-class employee benefits and pension solution to address the challenges clients are facing, including in health and wellness, benefit communications and retirement. 
About Hub’s M&A ActivitiesHub International Limited is committed to growing organically and through acquisitions to expand its geographic footprint and strengthen industry and product expertise. For more information on the Hub M&A experience, visit WeAreHub.com.
About Hub International 
Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker providing property and casualty, life and health, employee benefits, investment and risk management products and services. With more than 11,000 employees in offices located throughout North America, Hub’s vast network of specialists provides peace of mind on what matters most by protecting clients through unrelenting advocacy and tailored insurance solutions. For more information, please visit www.hubinternational.com.
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<title>Cognate acquires Cobra Biologics</title>
<link>https://www.pehub.com/2019/11/cognate-acquires-cobra-biologics/</link>
<comments>https://www.pehub.com/2019/11/cognate-acquires-cobra-biologics/#respond</comments>
<pubDate>Tue, 05 Nov 2019 15:47:24 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Healthcare]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605317</guid>
<description><![CDATA[Cognate BioServices has acquired UK and Sweden-based Cobra Biologics, an advanced therapy CDMO that specializes in providing manufacturing services for the plasmid DNA and viral vector. No financial terms were disclosed. Cognate's backers include EW Healthcare Partners.]]></description>
<content:encoded><![CDATA[Cognate BioServices has acquired UK and Sweden-based Cobra Biologics, an advanced therapy CDMO that specializes in providing manufacturing services for the plasmid DNA and viral vector. No financial terms were disclosed. Cognate’s backers include EW Healthcare Partners.
PRESS RELEASE
MEMPHIS, Tenn., Nov. 4, 2019 /PRNewswire/ — Cognate BioServices (Cognate), a leading contract development and manufacturing organization (CDMO) specialized in cell and cell-mediated gene therapy products and Cobra Biologics (Cobra), a leading CDMO specialized in providing manufacturing services for plasmid DNA and viral vector, today announced that they have entered into a definitive agreement in which Cognate will acquire all of the outstanding share capital of Cobra. Existing Cognate investor EW Healthcare Partners led the financing for the acquisition.
The transaction creates an industry-leading enhanced services provider delivering drug development and manufacturing solutions to the global cell and gene immunotherapy and regenerative medicine industries. Together, Cognate and Cobra will be well positioned to leverage their decades of industry knowledge and experience, provide an integrated supply chain for their clients, and expand their global capability to provide better and more scalable solutions to support the ever-changing needs of their clients.
“This acquisition is central to Cognate’s strategy to build on its existing offerings and create an enterprise platform for life cycle management of cell and gene therapy products, accelerating the availability of new technologies to patients that need them most,” said J. Kelly Ganjei, CEO of Cognate. “Cobra is a well-established leader in the development and manufacture of a variety of DNA and viral vectors that our current and prospective clients urgently need. With an impressive performance history and reputation in supporting cell and gene therapy product developers navigating through development and manufacturing challenges and capacity needs, the combined Cognate-Cobra expertise, infrastructure, and geographical footprint immediately positions both businesses to better respond to current and future market needs more quickly, effectively, and comprehensively.”
Evis Hursever, Managing Director at EW Healthcare Partners, said, “EW Healthcare Partners is delighted to have the opportunity to back the Cognate team as they drive the growth and the transformation of the business into a leading provider in the cell and gene therapy space. We look forward to continuing to support the Company and the exceptional management team as they capitalize on the growth opportunities ahead and achieve their ambitious growth plans.”
Peter Coleman, CEO of Cobra Biologics, said, “Cobra Biologics has built its reputation in providing high quality process development, manufacturing and fill/finish services for plasmid DNA, viral vector, and proteins. Joining forces with Cognate is exciting, positioning the combined Cognate-Cobra as a leading service provider across the advanced therapy supply chain. The acquisition by Cognate will strengthen Cobra’s capability and capacity, broadening our service offering for both new and existing customers.”
This transaction further supports Cognate’s mission to meet the needs of the ultimate consumer of its services—the patients with unmet medical needs, focused on addressing the growing demand for rapid access to advanced manufacturing capabilities integrated into a commercial-scale manufacturing environment.
The Company will continue to be supported by its existing investors. EW Healthcare Partners and Medivate Partners participated in this round of funding for the acquisition of Cobra, and Blackrock and the sovereign wealth fund will also continue to partner with the Company.
The transaction is subject to receipt of approval under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
About Cognate BioServices, Inc. 
Cognate is a dynamic, results-driven, organization focused on providing the broadest range of commercialization services to regenerative medicine, cellular immunotherapy and advance cell therapy companies. Cognate provides a unique combination of custom services to companies across all points of clinical and commercial development specializing in mid to late stage clinical trials and supporting our clients through product scale-up into commercial manufacturing. Cognate applies the knowledge and expertise of its business, scientific and technical teams to successfully develop autologous and allogeneic products across multiple cell-based technology platforms from start to finish. http://www.cognatebioservices.com
About Cobra Biologics: 
Cobra Biologics is a leading international advanced therapy CDMO with GMP approved facilities in both Sweden and the UK each with an extensive track record in serving our global client base. We offer a broad range of integrated and stand-alone services for both the clinical and commercial market. As a trusted provider and a key partner in the drug development and commercialization process, we take pride in our manufacturing excellence and comprehensive range of services to the pharmaceutical and biotech industries. For more information please visit: www.cobrabio.com
About EW Healthcare Partners: 
With close to $4 billion raised since inception, EW Healthcare Partners is one of the largest and oldest private healthcare investment firms and seeks to make growth equity investments in fast growing commercial-stage healthcare companies in the pharmaceutical, medical device, diagnostics, and technology-enabled services sectors in the United States and in Europe. Since its founding in 1985, EW Healthcare Partners has maintained its singular commitment to the healthcare industry and has been a long term investor in over 150 healthcare companies, ranging across sectors, stages and geographies. The team is comprised of over 20 senior investment professionals with offices in Palo Alto, Houston, New York, and London. For more information, see www.ewhealthcare.com.
About Medivate Partners: 
Medivate is a private equity and venture capital firm that focuses investment in biotech/healthcare industry in Asia and North America. The firm is well positioned to capture surging healthcare investment opportunities between Asia and North America, and looks to arbitrage the unique cross border investment advantages. While closing its third fund, Medivate Partners quickly built a reputation for providing inner circle access to top caliber syndicates and successful life science deals in Asia and North America.
For our latest news, please visit https://www.cognatebioservices.com/category/press-releases/
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<title>Castik-backed Waterlogic acquires two water dispenser businesses</title>
<link>https://www.pehub.com/2019/11/castik-backed-waterlogic-acquires-two-water-dispenser-businesses/</link>
<comments>https://www.pehub.com/2019/11/castik-backed-waterlogic-acquires-two-water-dispenser-businesses/#respond</comments>
<pubDate>Tue, 05 Nov 2019 15:31:12 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Industrial/Manufacturing]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605309</guid>
<description><![CDATA[Waterlogic, which is backed by Castik Capital, has acquired two water dispenser businesses: Pure Water Technology Ohio and PWT Georgia. No financial terms were disclosed.
]]></description>
<content:encoded><![CDATA[Waterlogic, which is backed by Castik Capital, has acquired two water dispenser businesses: Pure Water Technology Ohio and PWT Georgia. No financial terms were disclosed.
PRESS RELEASE
MAIDENHEAD, England, Nov. 5, 2019 /PRNewswire/ — Waterlogic, a leading global designer, manufacturer, distributor and service provider of purified drinking water dispensers, is pleased to announce the acquisitions of Pure Water Technology (PWT) Ohio and PWT Georgia, two major water dispenser businesses in the U.S. With these acquisitions, Waterlogic reaches the milestone of 20 companies acquired in 2019 to date.
PWT Ohio and PWT Georgia were established in 2005 and have grown to be among the top PHSI distributors by volume in recent years. They have experienced more than 20% revenue growth per annum for the past five years and through a thoughtfully constructed work culture have been recognised as one of the Top 30 best places to work in Cleveland for 2019. Their customer acquisition strategy to target premium businesses has yielded an impressive customer base that is over 5,000 in numbers. 
Waterlogic will continue to accelerate the high-quality, fast growth that the companies have delivered consistently through their excellent sales and service teams under the leadership of Tom Skerl.
“These are two very significant acquisitions for Waterlogic in the U.S. and we’re very excited about the new opportunities they create for us,” says Jeremy Ben-David, Group CEO Waterlogic. “PWT Georgia and PWT Ohio will be fully integrated into the Waterlogic family, giving their existing customers continued access to outstanding service and introducing Waterlogic’s range of cutting-edge hydration solutions.”
Tom Skerl, owner of PWT Ohio and PWT Georgia said: “Waterlogic was the natural acquirer for our businesses. I am delighted that our customers and employees will be joining Waterlogic and look forward to seeing PWT Ohio and PWT Georgia go from strength to strength under Waterlogic’s ownership.”
The deals add 11,000 dispensers and take the total Waterlogic dispensers in North America to over 130,000 following on from several other significant acquisitions in 2019. These include PWT Central of New Jersey, AWS South Bend, Leslie Water, My Better Water, Pure Texan Water and Polar Ice and Water, increasing customer density in the U.S. and building capabilities in the company’s already established market. In Canada, the acquisitions of City Water, Just Pure Water and Aquarian Pure Water position Waterlogic as the largest point-of-use company in the country.
Elsewhere, Waterlogic’s acquisition of Aquafree, Chile’s largest point-of-use company, established Waterlogic with a direct presence for the first time in this thriving market. The deal provides opportunities for future long-term growth in Chile and expansion across Latin America. This followed on from direct market entry in Belgium earlier this year with the acquisition of Pure Services.
Waterlogic’s 2019 acquisition activity reflects its position as a global leader in the market for workplace hydration solutions, as well as the natural acquirer for high-quality providers of point-of-use water dispensers. Since January, the company has acquired 20 companies in the U.S., Canada, Chile, Australia and Western Europe.
“We have achieved a formidable year of acquisitions to date,” continues Jeremy Ben-David. “We continue to maintain a healthy pipeline to augment organic growth in all our markets. We’re on track for a strong close to the year and welcome additional conversations from companies looking to become part of the Waterlogic family.”
Waterlogic was acquired in January 2015 by funds managed by Castik Capital, the European private equity investor. These are the most recent acquisitions as part of the company’s buy and build strategy since the acquisition by Castik, and following substantial acquisitions in the US, UK, Australia, Germany, France, Spain, Central and Eastern Europe, and Scandinavia.
About Waterlogic 
Waterlogic is an innovative designer, manufacturer, distributor and operator of point-of-use (POU) drinking water purification and dispensing systems designed for environments such as offices, factories, hospitals, hotels, schools, restaurants and other workplaces. Founded in 1992, Waterlogic was one of the first companies to introduce POU systems to customers worldwide, and has been in the forefront of the POU market, promoting product design and quality, the application of new technologies and world class sales and service. Waterlogic has its own subsidiaries in many markets and an extensive and expanding independent global distribution network in place, reaching over 60 countries around the world. Waterlogic products are currently distributed in North and South America, Europe, Asia, Australia and South Africa. Waterlogic’s leading markets are the US, Australia and Western Europe, in particular the UK, Scandinavia, Germany and France. More information can be found at www.waterlogic.com
About Castik 
Castik Capital S.à r.l (“Castik”) manages investments in private equity. Castik is a European multistrategy investment manager, acquiring significant ownership positions in European private and public companies, where long-term value can be generated through active partnerships with management teams. Founded in 2014, Castik is based in Luxembourg and focuses on identifying and developing investment opportunities across Europe. The advisor to Castik is Castik Capital Partners GmbH, based in Munich. Investments are made by the Luxembourg-based fund, EPIC I SLP, the first fund managed by Castik, which had its final fund close of EUR 1bn in July 2015.
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<title>PE-backed Hunt Valve acquires Pima Valve</title>
<link>https://www.pehub.com/2019/11/pe-backed-hunt-valve-acquires-pima-valve/</link>
<comments>https://www.pehub.com/2019/11/pe-backed-hunt-valve-acquires-pima-valve/#respond</comments>
<pubDate>Tue, 05 Nov 2019 15:28:10 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Industrial/Manufacturing]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605298</guid>
<description><![CDATA[Hunt Valve Company, a portfolio company of May River Capital, has acquired Chandler, Arizona-based Pima Valve, a provider of bronze marine valves. No financial terms were disclosed.]]></description>
<content:encoded><![CDATA[Hunt Valve Company, a portfolio company of May River Capital, has acquired Chandler, Arizona-based Pima Valve, a provider of bronze marine valves. No financial terms were disclosed.
PRESS RELEASE
SALEM, Ohio, Nov. 5, 2019 /PRNewswire/ — Hunt Valve Company (Hunt Valve), a specialty valve engineering and manufacturing company serving the United States Navy and industrial customers worldwide, announced today that it has completed its acquisition of Pima Valve. 
Located in Chandler, AZ, Pima Valve supplies severe-duty bronze marine valves. The company also has a large variety of special bronze and alloy steel products that meet specific performance requirements for U.S., Canadian and NATO-friendly Navy ships and commercial marine applications.
Hunt Valve Company announced that it has completed its acquisition of Pima Valve.
“The financial and organizational resources afforded by Hunt Valve’s acquisition of Pima Valve underpins a strategic push toward high-performance, cost-effective manufacturing and technical know-how that will be a key part of the Navy supply chain in the coming years,” said David Bala, President of Pima Valve and MB Valve, divisions of Hunt Valve. “Hunt has demonstrated through its acquisition and integration of MB Valve in March 2019 that they understand our business. The Hunt Valve team has deep bench strength in our industry. Combine that strength with what MB Valve and now Pima Valve bring to the table, and our customers will see the benefit in the long haul.”
“The Pima Valve acquisition is yet another example of Hunt Valve’s commitment to strategically deploy capital in support of the U.S. Navy drive towards a 355-ship fleet and solving U.S. Navy supply chain challenges,” said Charles Ferrer, Hunt Valve’s President. “Pima Valve expands and complements Hunt Valve’s product offering and provides access to additional U.S. Navy and international shipyards as well as industrial customers.”
Hunt Valve Company is a portfolio company of Chicago-based May River Capital, a private equity firm focused on lower middle-market industrial growth businesses. May River Capital completed a recapitalization of Hunt Valve Company in December 2018 by May River Capital Fund I, LP. 
“On behalf of Hunt Valve and May River Capital, we would like to congratulate Frank Buzan and Lisa Smith, of JA Moody on the sale of Pima Valve to Hunt and express our sincere thanks for the privilege to work with the tremendous business and team they have built to accelerate the company’s profitable growth,” added Brad Sterner, Hunt Valve Chief Executive Officer.
“We are proud to support Hunt Valve’s growth both organically and through acquisitions of high-performing businesses such as MB Valve and now Pima Valve,” said Stephen Griesemer, Partner at May River Capital. “We continue to evaluate additional add-on acquisitions that would benefit from Hunt’s scale and capabilities in support of the Navy supply chain.”
ABOUT MAY RIVER CAPITAL (www.mayrivercapital.com) 
May River Capital is a Chicago-based private equity firm focused on investing in lower middle-market industrial growth companies. May River Capital invests in high-quality industrial growth businesses, including precision manufacturing, engineered products, specialized industrial services and value-added industrial distribution businesses.
ABOUT HUNT VALVE COMPANY (www.huntvalve.com) 
Hunt Valve brings decades of fluid power engineering innovations and solutions to a wide range of industrial and military customers. It specializes in severe duty valves and complementary engineered components and system solutions for applications that include primary metals, energy, process, and U. S. Navy nuclear-powered vessels, including all submarines and carriers in operation as well as the Virginia Class, Columbia Class and Ford Class.
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<title>LinQuest buys Perduco Group</title>
<link>https://www.pehub.com/2019/11/linquest-buys-perduco-group/</link>
<comments>https://www.pehub.com/2019/11/linquest-buys-perduco-group/#respond</comments>
<pubDate>Tue, 05 Nov 2019 12:29:12 +0000</pubDate>
<dc:creator><![CDATA[Luisa Beltran]]></dc:creator>
<category><![CDATA[M&A]]></category>
<category><![CDATA[Tech]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605260</guid>
<description><![CDATA[LinQuest Corp said Nov. 5 that it closed its buy of The Perduco Group. Financial terms weren’t announced. Perduco provides provider of advanced data analytics, data architecting and model-based simulation to defense and civilian agencies. LinQuest is backed by Madison Dearborn Partners and CoVant.]]></description>
<content:encoded><![CDATA[LinQuest Corp said Nov. 5 that it closed its buy of The Perduco Group. Financial terms weren’t announced. Perduco provides provider of advanced data analytics, data architecting and model-based simulation to defense and civilian agencies. LinQuest is backed by Madison Dearborn Partners and CoVant.
PRESS RELEASE
LinQuest Acquires High-Growth, Advanced Data Analytics Provider, 
The Perduco Group
Complementary Combination Expands LinQuest’s Capabilities and Customer Set 
and Advances Its Strategic Growth Plan
Los Angeles, California (November 5, 2019) — LinQuest Corporation (“LinQuest”), a leader in space systems technology solutions for U.S. defense and intelligence communities, announced today that it has completed the acquisition of The Perduco Group (“Perduco”), a high-growth and leading provider of advanced data analytics, data architecting and model-based simulation to defense and civilian agencies. Together, Perduco and LinQuest will deliver enhanced industry-leading decision analytics, operations research, artificial intelligence, machine learning, and mission planning capabilities. This comprehensive services offering will strengthen the combined organization’s market position as a trusted technology solutions partner for military and intelligence community customers.
“Perduco’s corporate values and proven track record of excellence strongly complement LinQuest’s core values and commitment to excellence in a customer-first approach,” said Tim Dills, CEO of LinQuest. “This acquisition will create a comprehensive suite of solutions to provide our customers with specialized tools to achieve mission-critical objectives more effectively than ever before.”
The acquisition brings LinQuest an expanded contract portfolio with multiple contract paths for its defense customer base. Contract vehicles include the GSA Multiple Award Schedule (MAS), the Small Business Innovation Research (SBIR) program and the DoD’s Rapid Innovation Fund. Additional active contracts support The Air Force Research Laboratory, the Air Force Materiel Command, the Air Education and Training Command and the intelligence community. Perduco’s existing customer base has limited overlap with LinQuest’s current footprint and includes a number of promising opportunities for LinQuest.
With the support of its majority investment partners, Madison Dearborn Partners and CoVant Management, LinQuest has focused on growth by scaling its R&D capabilities and expanding its customer offerings. The acquisition of Perduco is consistent with this strategy and furthers the company’s leadership in space systems technology solutions.
“We’re proud to be joining industry-leader LinQuest, a company that shares our commitment to technical innovation and customer experience,” said Stephen Chambal, CEO of The Perduco Group. “Together, we will deliver a seamless and holistic experience for our military and intelligence community customers designed to more effectively meet their needs on the battlefield and at home.”
Perduco and its leadership team will operate as a business unit within LinQuest, providing focused and uninterrupted support to customers.
Baird served as LinQuest’s financial advisor with Kirkland & Ellis LLP and Crowell & Moring LLP serving as legal advisors. Jones Day served as legal advisor to Perduco. As part of the transaction, Bank of America Merrill Lynch is providing an expanded credit facility to support LinQuest’s continued growth.
About LinQuest Corporation 
LinQuest Corporation is a Los Angeles-based space systems technology company that provides innovative services and solutions to U.S. defense, national security, and intelligence communities that focus on the convergence of C4ISR, information, and cyber systems. These services and solutions span the integration, engineering, testing, operations, and sustainment of critical space, air, and ground systems capabilities and programs. More information can be found on the company’s website at www.linquest.com.
About The Perduco Group 
Located near Dayton, Ohio, The Perduco Group (“Perduco”) is a high-end data analytics firm delivering a wide range of technical solutions to the defense and intelligence communities. Perduco transforms data into useful information and extracts insights that support decision makers facing complex problems. Perduco was established in 2011 and, following its acquisition by LinQuest Corporation, operates as a business unit of LinQuest. More information can be found on the company’s website at www.theperducogroup.com.
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<title>VC-backed Turbonomic buys SevOne</title>
<link>https://www.pehub.com/2019/11/vc-backed-turbonomic-buys-sevone/</link>
<comments>https://www.pehub.com/2019/11/vc-backed-turbonomic-buys-sevone/#respond</comments>
<pubDate>Mon, 04 Nov 2019 21:30:02 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[M&A]]></category>
<category><![CDATA[Tech]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605189</guid>
<description><![CDATA[Turbonomic has acquired Boston-based software company SevOne. No financial terms were disclosed. Turbonomic's backers include Bain Capital Ventures, General Atlantic, Globespan Capital Partners, Highland Capital Partners and Iconiq Capital.]]></description>
<content:encoded><![CDATA[Turbonomic has acquired Boston-based software company SevOne. No financial terms were disclosed. Turbonomic’s backers include Bain Capital Ventures, General Atlantic, Globespan Capital Partners, Highland Capital Partners and Iconiq Capital.
PRESS RELEASE
BOSTON–(BUSINESS WIRE)–Turbonomic, the leader in Application Resource Management, today announced the acquisition of privately-held, Boston-based SevOne. SevOne, a visionary software company, provides customers with the world’s most scalable data platform for real-time performance management. The acquisition enables Turbonomic and SevOne to deliver customers with application performance that is simple, scalable and self-managing.
SevOne’s platform enables the world’s largest and most complex networks to be agile, reliable and more efficient. It provides operational insight with speed at scale through a highly distributed, patented architecture. Recently recognized for its innovative technology, SevOne has been repeatedly named a Visionary in Gartner’s Magic Quadrant for Network Performance Monitoring and Diagnostics1. The company is trusted by companies such as Verizon, BT and Comcast.
More new applications will be built within the next four years than the previous 40 years combined2. These applications are increasingly complex, highly distributed and operator intensive to assure performance. The largest and fastest replatforming of applications in IT’s history demands that applications are simple, scalable and self-managing. 
Together, Turbonomic and SevOne will deliver customers better data, analytics and decisions to more comprehensively assure application performance.
Turbonomic customers will benefit from the integration of SevOne’s highly scalable network insights and analytics for reporting detailed performance data, advancing their resource decision abilities and demonstrating business value.
SevOne will continue to provide its customers with world-class, scalable network monitoring performance. Going forward, SevOne customers will gain comprehensive application and infrastructure data along with AI-powered analytics to derive resourcing decisions that can be automated.
“The combined entities, with unique intellectual property, have an incredible opportunity to define the future of performance. Over the last 10 years, we’ve invested $200 million to build the world’s leading Application Resource Management solution. Only Turbonomic enables customers to automate the performance management of applications across virtual, cloud and cloud-native environments,” said Benjamin Nye, Chief Executive Officer at Turbonomic. “In parallel, SevOne has built valuable performance-focused Intellectual Property – from the network up. As part of Turbonomic, there is greater opportunity to enable customers to deliver predictable and reliable application performance.”
“Turbonomic customers take a modern approach to managing application resources with AI-powered automation – of which the network is essential,” said SevOne CEO, Jack Sweeney. “We’re excited to join forces with Turbonomic and help customers leverage the combination of these industry leading performance platforms.”
About Turbonomic 
Turbonomic Application Resource Management (ARM) continuously assures that applications get precisely the resources needed to ensure performance and lower cost while maintaining policy compliance. Privately held, Boston-based Turbonomic is one of the fastest-growing software companies, backed by leading venture firms including Bain Capital Ventures, General Atlantic, Globespan Capital Partners, Highland Capital Partners and Iconiq Capital. To learn more, visit turbonomic.com.
About SevOne 
SevOne provides modern monitoring and analytics solutions that large organizations need to monitor their networks today, tomorrow and beyond. SevOne simplifies the extraction and enrichment of metric, flow, log and streaming telemetry data across multi-vendor networks enabling enterprises, carriers and managed services providers to ensure optimal network visibility and performance. With SaaS, public cloud and on-prem offerings, including several pre-built solutions specifically designed to solve SD-WAN, SDN, NFV and enterprise Wi-Fi challenges, SevOne helps customers compete and win in the connected world. For more information visit www.sevone.com and follow the company on Twitter @SevOneIn
 
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<title>PE-backed Cosette Pharmaceuticals buys G&W Labs plant</title>
<link>https://www.pehub.com/2019/11/pe-backed-cosette-pharmaceuticals-buys-gw-labs-plant/</link>
<comments>https://www.pehub.com/2019/11/pe-backed-cosette-pharmaceuticals-buys-gw-labs-plant/#respond</comments>
<pubDate>Mon, 04 Nov 2019 15:50:12 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Healthcare]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605084</guid>
<description><![CDATA[Bridgewater, New Jersey-based Cosette Pharmaceuticals, a generic pharmaceutical company, has acquired Lincolnton, North Carolina-based G&W Laboratories' finished dosage manufacturing plant. No financial terms were disclosed. Cosette is a portfolio company of Avista Capital Partners.]]></description>
<content:encoded><![CDATA[Bridgewater, New Jersey-based Cosette Pharmaceuticals, a generic pharmaceutical company, has acquired Lincolnton, North Carolina-based G&W Laboratories‘ finished dosage manufacturing plant. No financial terms were disclosed. Cosette is a portfolio company of Avista Capital Partners.
PRESS RELEASE
BRIDGEWATER, N.J., Nov. 4, 2019 /PRNewswire/ — Cosette Pharmaceuticals, Inc., a generic pharmaceutical company primarily focused on extended topical and suppository products, announced today that it has purchased G&W Laboratories’ finished dosage manufacturing plant located in Lincolnton, NC.
“The purchase of the Lincolnton plant expands Cosette’s capabilities into new dosage forms while simultaneously allowing us to enter a new business vertical that complements our overall growth strategy,” said Walt Kaczmarek, President and Chief Executive Officer of Cosette. “The Lincolnton facility has an excellent track record of producing liquid pharmaceuticals along with other differentiated dosage forms, and operates as a contract manufacturer across multiple presentations for select business partners. We look forward to integrating their expertise and capabilities to the Cosette family and adding value to the Cosette growth pathway.”
About Cosette Pharmaceuticals, Inc. 
Cosette Pharmaceuticals, Inc. is a generic pharmaceutical company specializing in the areas of dermatology and allergy, with products available in dosage forms such as creams, ointments, lotions, solutions, gels, pastes and suppositories. The company was formed when Avista Capital Partners, a leading private equity firm focused on growth-oriented healthcare businesses, purchased the extended topicals and dermatology portfolio of G&W Laboratories in December 2018. Cosette is expanding its product offering by bringing new products to market via internal development and external licensing or acquisitions. For further information on Cosette Pharma, please visit the company’s website: www.cosettepharma.com.
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<title>GTCR-backed MBI buys Vyve</title>
<link>https://www.pehub.com/2019/11/gtcr-backed-mbi-buys-vyve/</link>
<comments>https://www.pehub.com/2019/11/gtcr-backed-mbi-buys-vyve/#respond</comments>
<pubDate>Mon, 04 Nov 2019 15:42:20 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[M&A]]></category>
<category><![CDATA[Tech]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605083</guid>
<description><![CDATA[Mega Broadband Investments LLC, which is backed by GTCR, has acquired Shawnee, Oklahoma-based Vyve Broadband, a provider of high-speed data, television and voice services to residential and business customers in rural markets across Oklahoma, Kansas, Texas, Arkansas, Louisiana, Tennessee, Georgia and Wyoming. No financial terms were disclosed. Lazard Middle Market LLC acted as financial adviser to GTCR and MBI.]]></description>
<content:encoded><![CDATA[Mega Broadband Investments LLC, which is backed by GTCR, has acquired Shawnee, Oklahoma-based Vyve Broadband, a provider of high-speed data, television and voice services to residential and business customers in rural markets across Oklahoma, Kansas, Texas, Arkansas, Louisiana, Tennessee, Georgia and Wyoming. No financial terms were disclosed. Lazard Middle Market LLC acted as financial adviser to GTCR and MBI.
PRESS RELEASE
CHICAGO, Nov. 4, 2019 /PRNewswire/ — GTCR, a leading private equity firm, announced today that it has completed its previously announced acquisition of Vyve Broadband (“Vyve”) through GTCR’s portfolio company Mega Broadband Investments LLC (“MBI”), a partnership with CEO Phil Spencer.
Founded in 2012, and operationally headquartered in Shawnee, OK, Vyve provides high-speed data, television and voice services to residential and business customers in rural markets across Oklahoma, Kansas, Texas, Arkansas, Louisiana, Tennessee, Georgia and Wyoming.
Vyve represents the third acquisition for MBI, following the previously completed acquisitions of Northland Communications (“Northland”) in October 2018 and the broadband assets of Eagle Communications, Inc. (“Eagle”) in August 2019.
Kirkland & Ellis LLP provided legal counsel, PricewaterhouseCoopers served as accounting advisor, and Lazard Middle Market LLC acted as exclusive financial advisor to GTCR and MBI.
About GTCR 
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Growth Business Services, Technology, Media & Telecommunications, Healthcare and Financial Services & Technology industries. The Chicago-based firm pioneered The Leaders Strategy<img src="https://s.w.org/images/core/emoji/12.0.0-1/72x72/2122.png" alt="™" class="wp-smiley" style="height: 1em; max-height: 1em;" /> – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $15 billion in over 200 companies. For more information, please visit www.gtcr.com.
About Mega Broadband Investments 
Mega Broadband Investments was formed in October 2017 as a partnership between Phil Spencer and GTCR. Mega Broadband Investments’ mission is to build a leading broadband provider delivering high speed data, video and voice services to residential and commercial customers. For more information, please contact (312) 953-3305.
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<title>PE-backed Molecular Products acquires O.C. Lugo</title>
<link>https://www.pehub.com/2019/11/pe-backed-molecular-products-acquires-o-c-lugo/</link>
<comments>https://www.pehub.com/2019/11/pe-backed-molecular-products-acquires-o-c-lugo/#respond</comments>
<pubDate>Mon, 04 Nov 2019 15:30:26 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Industrial/Manufacturing]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605072</guid>
<description><![CDATA[Molecular Products Group, which is backed by Arlington Capital Partners, has acquired Connellsville, Pennsylvania-based O.C. Lugo Company, a maker of sodium chlorate-based chemical oxygen generators. No financial terms were disclosed.]]></description>
<content:encoded><![CDATA[Molecular Products Group, which is backed by Arlington Capital Partners, has acquired Connellsville, Pennsylvania-based O.C. Lugo Company, a maker of sodium chlorate-based chemical oxygen generators. No financial terms were disclosed.
PRESS RELEASE
LOUISVILLE, Colo.–(BUSINESS WIRE)–Molecular Products Group, (“Molecular Products” or the “Company”), a portfolio company of Arlington Capital Partners (“Arlington Capital”), today announced the acquisition of the O.C. Lugo Company. 
The O.C. Lugo Company, located in Connellsville, PA, manufactures sodium chlorate-based chemical oxygen generators, and is a prime contractor for the United States Navy. Chemical oxygen generators are devices used to produce pure, breathable oxygen for use in enclosed spaces, including submarines.
Troy Rhudy, CEO of the Molecular Products Group, said, “As the world leader in chemical oxygen generation systems, Molecular Products is excited to welcome the O.C. Lugo Company into the Group. Our combined capabilities will support our continued growth in the defense industry while strengthening our service to our global customer base.”
“The acquisition of the O.C. Lugo Company demonstrates Molecular Products’ continued investment in its market-leading chemical oxygen generation franchise. The transaction expands the Company’s product offerings and provides another key chemical oxygen generator manufacturing site in addition to our existing capacity in Harlow, England and in our state-of-the-art Louisville, CO facility,” said Peter Manos, a Managing Partner at Arlington Capital Partners.
Malcolm Little, a Partner at Arlington Capital, added, “This is Molecular Products’ second strategic acquisition in the last twelve months. We are very excited for the tremendous growth opportunities these highly complementary acquisitions bring in each of Molecular Products’ core markets.”
About Molecular Products 
Molecular Products is a Pure Air Technologies company and leading manufacturer of advanced chemistry-based products serving the healthcare, defense and industrial markets. The Company specializes in the manufacture and supply of chemical technologies for the treatment of breathable gases and serves its global customer base out of its two primary manufacturing facilities in Louisville, Colorado, USA and Harlow, Essex, UK.
About Arlington Capital Partners 
Arlington Capital Partners is a Washington, D.C.-area private equity firm that has managed $4.0 billion of committed capital via five investment funds. Arlington Capital is focused on middle market investment opportunities in growth industries, including: aerospace/defense, government services and technology, healthcare, and business services and software. The firm’s professionals and network have a unique combination of operating and private equity experience that enable Arlington Capital to be a value-added investor. Arlington Capital invests in companies in partnership with high quality management teams that are motivated to establish and/or advance their company’s position as leading competitors in their field. www.arlingtoncap.com
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<title>CSC to acquire TCS-Groep</title>
<link>https://www.pehub.com/2019/11/csc-to-acquire-tcs-groep/</link>
<comments>https://www.pehub.com/2019/11/csc-to-acquire-tcs-groep/#respond</comments>
<pubDate>Mon, 04 Nov 2019 15:25:16 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Financial Services]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605064</guid>
<description><![CDATA[CSC has agreed to acquire Netherlands-based TCS-Groep, a service provider for alternative investment funds. No financial terms were disclosed.
]]></description>
<content:encoded><![CDATA[CSC has agreed to acquire Netherlands-based TCS-Groep, a service provider for alternative investment funds. No financial terms were disclosed.
PRESS RELEASE
WILMINGTON, Del.–(BUSINESS WIRE)–CSC, a world leader in global business, legal, tax, and digital brand services, is pleased to announce that it has signed a definitive agreement to acquire TCS-Groep (TCS), a Netherlands-based service provider for alternative investment funds (AIFs).
TCS offers fund administration and depositary services for alternative asset managers with a focus on real estate, private equity, private debt, and social impact funds, and manages more than €6,5 billion in assets on behalf of its clients. The deal is subject to regulatory approval in the Netherlands.
“We’re delighted to welcome TCS to CSC as part of our long-term strategy to develop the European market by offering international clients our suite of fund administration, capital markets, and depositary services,” says CSC Senior Vice President John Hebert. “TCS has an impressive track record and similar service-oriented culture to our own. The combined offerings and shared reputation for high-quality client service create a unique offering in the marketplace.”
The acquisition of this Netherlands based business extends CSC’s capabilities for global financial market (GFM) clients and gives it a physical presence in another leading European financial center. CSC’s other European GFM offices are in London, Luxembourg, and Dublin. The acquisition follows several strategic hires and investments CSC made in 2019, including the organic recruitment and set-up of its fund administration business in the U.S. and APAC markets. With this acquisition, Liam McHugh, managing director, will relocate to Dublin to oversee CSC’s fund administration business in Europe.
“Beyond extending our capabilities in Europe, this acquisition reinforces our competitive advantage of being a privately held and independent service provider,” says Hebert. “Our long-term stability and client-centric approach is highly valued by funds clients and makes for a strong cultural fit between our respective organizations.”
TCS was founded in 1991 and is headquartered in Maarsbergen, Netherlands. TCS currently has 26 staff across two offices who will join CSC as part of the acquisition. TCS provides back office, compliance, accounting, tax, representation, and domiciliation services to funds based in the Netherlands. And in addition, TCS is the largest non-banking depositary in the Netherlands.
“Becoming part of CSC gives us the ideal platform to further accelerate our success in building the highest quality fund services business in the Netherlands. We are excited to partner with a firm that has an international footprint and the same commitment to service excellence that our clients have come to expect,” says Birgitte van den Broek, CEO of TCS-Groep. “We carefully selected our partner, and this represents the ideal outcome for both our clients and employees. Our clients will continue to receive our personalized services from their existing client service teams, and both our clients and employees will benefit from the extended knowledge base now accessible via CSC.”
Financial terms were not announced. Pepper Hamilton and Houthoff served as legal advisor to CSC. PhiDelphi Corporate Finance acted as sole financial advisor to TCS-Groep and JanssenBroekhuysen provided legal advice.
About CSC 
CSC is a leading provider of specialized administration services to alternative asset managers across a range of fund strategies, capital markets participants in both public and private markets, and corporations requiring fiduciary and governance support. We are the unwavering partner for 90% of the Fortune 500®, nearly 10,000 law firms, and more than 3,000 financial institutions. CSC’s Global Financial Markets professionals are located in key financial centers across the U.S., Europe, and Asia-Pacific. We are a global company capable of conducting transactions wherever our clients are―and we accomplish that by deploying experts in every business we serve. For more information about CSC’s services, visit cscgfm.com.
About TCS-Groep 
TCS is a leading and reputable service provider in the Netherlands that offers fund-administrative and depositary services to asset managers of alternative investments. Services by TCS are characterized by long-term customer relationships, a stable workforce and first in class systems. While asset managers can concentrate on their core tasks, TCS assures smooth and compliant operations on the background. TCS takes great pride in being the largest non-banking depositary service provider in the Netherlands; as a depositary TCS actively communicates with its clients so as to add real value to its operations, while securing proper fulfilment of all legal requirements. TCS holds licenses from the Dutch Central Bank (DNB) as well as from the Authority Financial Markets (AFM). For more information about TCS’s services, visit www.tcs-groep.nl.
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<title>Endava buys Intuitus</title>
<link>https://www.pehub.com/2019/11/endava-buys-intuitus/</link>
<comments>https://www.pehub.com/2019/11/endava-buys-intuitus/#respond</comments>
<pubDate>Mon, 04 Nov 2019 15:22:29 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Business Services]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605068</guid>
<description><![CDATA[Endava has acquired Edinburgh, Scotland-based Intuitus, a provider of tech advisory services to private equity clients. No financial terms were disclosed.]]></description>
<content:encoded><![CDATA[Endava has acquired Edinburgh, Scotland-based Intuitus, a provider of tech advisory services to private equity clients. No financial terms were disclosed.
PRESS RELEASE
LONDON–(BUSINESS WIRE)–Endava (NYSE “DAVA”) announced today the purchase of Intuitus Limited (“Intuitus”), headquartered in Edinburgh, Scotland. Intuitus is a leading independent provider of technology and digital due diligence, and other technology advisory services to Private Equity clients.
“The Private Equity space has always been an area of focus and strength for Endava, driven by the ability to increase equity value through digital transformation. Joining forces with Intuitus strengthens this position, bringing increased execution capability and a great portfolio of clients,” said John Cotterell, Endava’s CEO.
Intuitus brings over 100 active clients, most of which are Private Equity firms including Abry Partners, BC Partners, Carlyle, EQT, Inflexion and Triton, based in the UK and Continental Europe, as well as in the US and Middle East. 
The acquisition of Intuitus will enhance Endava’s capability and accelerate our penetration of this market segment. Technology is becoming ever more crucial to the investment thesis of Private Equity firms as they seek value transforming business change in their portfolio. They need to identify disruption opportunities and require external expertise to navigate the rapidly changing technology landscape.
“We are delighted to be joining Endava. Our due diligence expertise, combined with Endava’s technology know-how and international platform, will bring new growth opportunities for the combined team,” said Calum Stewart, CEO of Intuitus. 
Intuitus provides technology and digital insight that informs business-critical investment decisions and the formulation of business plans that maximise shareholder value at exit. The Intuitus business model combines extensive C-level technology expertise and transaction advisory capability with a deep understanding of the Private Equity sector. 
Intuitus will strengthen Endava’s existing IT due diligence advisory capability, and position it to better serve its expanding Private Equity client base. Additionally, the depth and breadth of Endava’s digital product and software engineering capabilities will now be more obviously available to Intuitus’ client base.
ABOUT ENDAVA PLC: 
Endava is a leading next-generation technology services provider and helps accelerate disruption by delivering rapid evolution to enterprises. Using distributed enterprise agile at scale, Endava collaborates with its clients, seamlessly integrating with their teams, catalysing ideation and delivering robust solutions. Endava helps its clients become digital, experience-driven businesses by assisting them in their journey from idea generation to development and deployment of products, platforms and solutions. It services clients in the following industries: Payments and Financial Services, TMT, Consumer Products, Retail, Logistics and Healthcare.
Endava had 5,754 employees as of June 30, 2019 located in offices in North America and Western Europe and delivery centres in Romania, Moldova, Bulgaria, Serbia, North Macedonia, Argentina, Uruguay, Venezuela, and Colombia.
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<title>Open Health to merge with Pharmerit International</title>
<link>https://www.pehub.com/2019/11/open-health-to-merge-with-pharmerit-international/</link>
<comments>https://www.pehub.com/2019/11/open-health-to-merge-with-pharmerit-international/#respond</comments>
<pubDate>Mon, 04 Nov 2019 12:40:26 +0000</pubDate>
<dc:creator><![CDATA[Luisa Beltran]]></dc:creator>
<category><![CDATA[Healthcare]]></category>
<category><![CDATA[M&A]]></category>
<category><![CDATA[healthcare]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605036</guid>
<description><![CDATA[Amulet Capital Partners LP said Nov. 4 that its portfolio company Open Health has agreed to merge with Pharmerit International LP. Financial terms weren’t announced. Open Health is a health communications and market access group.]]></description>
<content:encoded><![CDATA[Amulet Capital Partners LP said Nov. 4 that its portfolio company Open Health has agreed to merge with Pharmerit International LP. Financial terms weren’t announced. Open Health is a health communications and market access group.
PRESS RELEASE
<h1>Amulet Capital’s OPEN Health Merges with Pharmerit International</h1>
Transaction creates the leading provider of HEOR, market access, medical affairs and healthcare communications services to pharmaceutical companies across US, Europe and Asia
November 04, 2019 06:00 AM Eastern Standard Time
LONDON & BETHESDA, Md. & GREENWICH, Conn.–(<a href="https://www.businesswire.com/">BUSINESS WIRE</a>)–Amulet Capital Partners, LP (“Amulet”) is pleased to announce that its portfolio company OPEN Health (“OPEN Health”), a leading multi-disciplinary health communications and market access group, has agreed to merge with Pharmerit International, LP (“Pharmerit”), the largest independent global provider of health economics and outcomes research (HEOR) and strategic market access services to the pharmaceutical industry.
Terms of the transaction were not disclosed.
Amulet acquired Peloton Advantage, a leading U.S. provider of medical publications services to the pharmaceutical industry, in February 2018 and merged the business with OPEN Health in December 2018.
The integrated group will operate in 15 locations across three continents, with over 700 employees. David Rowley and Sandy Royden will continue to lead OPEN Health, working closely with Marc Botteman, Jennifer Stephens and Ben van Hout, Managing Partners and Co-Founders of Pharmerit.
Sandy Royden, OPEN Health Co-Founder and COO said, “We are very pleased to merge with Pharmerit to create the leading global provider of HEOR, market access, medical affairs and healthcare communications services to pharmaceutical companies. Both OPEN Health and Pharmerit have seen strong growth in recent years and, based on the two companies’ complementary service offerings and geographic coverage, as well as close relationships with both large pharma and emerging biotech accounts, the combined company will be ideally positioned to serve its customers across a broad spectrum of HEOR, market access and medical affairs activities, driving accelerated organic growth. All of this is, of course, underpinned by a strong interpersonal and cultural fit between the two teams, with shared values around collaboration and intellectual curiosity.”
Marc Botteman, Managing Partner and Co-Founder of Pharmerit said, “Over the past two decades, we have proudly grown Pharmerit into a global strategic leader dedicated to our mission of demonstrating and communicating the value of innovative healthcare interventions with the development of rigorous evidence. In joining OPEN Health, we are significantly expanding our client base, which will enable us to provide a wider range of integrated services to our clients, notably their medical affairs groups. We very much look forward to working with the OPEN Health management and Amulet teams to contribute to the long-term growth of OPEN Health.”
Ramsey Frank, Partner and Co-Founder of Amulet said, “This transaction aligns with our stated goal of growing the OPEN Health platform through thoughtful mergers and acquisitions. OPEN Health and Pharmerit have highly complementary capabilities, as well as an outstanding geographic, customer & therapeutic fit. As a value-added partner, we see significant opportunities to build upon these synergies, making future strategic investments that will lead to sustainable and profitable growth, while remaining focused on operational excellence.”
Edgemont Partners acted as sole financial advisor to Pharmerit on the transaction.
About OPEN Health Group
OPEN Health is a multi-disciplinary health communications and market access group, operating across three core business areas: Medical Communications; Patient and Brand Communications; and Value, Informatics and Evidence. OPEN Health was formed in 2011, and whilst working across a broad therapeutic range has a strong focus on oncology, rare diseases and specialist medicines. For more information on OPEN Health, please visit <a href="https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.openhealthgroup.com&esheet=52121930&newsitemid=20191104005089&lan=en-US&anchor=www.openhealthgroup.com&index=1&md5=f7d1fadf1bdffe7303454e94ba11f5a0">www.openhealthgroup.com</a>.
About Pharmerit International, LP
Pharmerit International is a global, premier health economics and outcomes research (HEOR) consultancy with 20 years of experience supporting pharmaceutical, biotechnology, and medical device organizations in health economics and outcomes research (HEOR) and market access worldwide. Pharmerit delivers quality research across four multi-disciplinary Centers of Excellence, Modelling & Meta-Analysis, Patient-Centered Outcomes, Real-World Evidence, and Strategic Market Access. Pharmerit has offices in Berlin, Bethesda, Boston, Mumbai, New York, Rotterdam, York, and Shanghai. For further information on Pharmerit International, please visit <a href="https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.pharmerit.com&esheet=52121930&newsitemid=20191104005089&lan=en-US&anchor=www.pharmerit.com&index=2&md5=70a6281cab64029aefd95a2b68923df8">www.pharmerit.com</a>.
About Amulet Capital Partners, LP
Amulet Capital Partners, LP is a middle-market private equity investment firm based in Greenwich, CT, focused exclusively on the healthcare sector. Amulet seeks to achieve long-term capital appreciation through privately negotiated investments in leading healthcare companies. Amulet Capital Partners focuses on those segments it believes have the most attractive long-term fundamentals with a target investment size generally between $25 million to $150 million. For additional information, please visit <a href="https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.amuletcapital.com&esheet=52121930&newsitemid=20191104005089&lan=en-US&anchor=www.amuletcapital.com&index=3&md5=39d5ba4b88f252e9ac30b6f152c9bb91">www.amuletcapital.com</a>.
 
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<title>CIS Credit Solutions buys Alliance 2020’s mortgage solutions unit</title>
<link>https://www.pehub.com/2019/11/cis-credit-solutions-buys-alliance-2020s-mortgage-solutions-unit/</link>
<comments>https://www.pehub.com/2019/11/cis-credit-solutions-buys-alliance-2020s-mortgage-solutions-unit/#respond</comments>
<pubDate>Mon, 04 Nov 2019 11:48:00 +0000</pubDate>
<dc:creator><![CDATA[Luisa Beltran]]></dc:creator>
<category><![CDATA[Financial Services]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605023</guid>
<description><![CDATA[CIS Credit Solutions, a portfolio company of SmithsonianCapital, said Nov. 4 that it acquired the mortgage solutions business of Alliance 2020 Inc. Financial terms weren’t announced. Alliance 2020’s mortgage products include credit and flood reports, tax verifications and rapid re-scores, according to the company’s website.]]></description>
<content:encoded><![CDATA[CIS Credit Solutions, a portfolio company of SmithsonianCapital, said Nov. 4 that it acquired the mortgage solutions business of Alliance 2020 Inc. Financial terms weren’t announced. Alliance 2020’s mortgage products include credit and flood reports, tax verifications and rapid re-scores, according to the company’s website.
PRESS RELEASE
SmithsonianCapital portfolio company CIS Credit Solutions Announces Acquisition of Mortgage Solutions Business of Alliance 2020 
New York, NY, November 4, 2019 – SmithsonianCapital portfolio company CIS Credit Solutions (“CIS”), an outsourced services and solutions provider in the mortgage industry, is pleased to announce the acquisition of the Mortgage Solutions Business of Alliance 2020, Inc. (“Alliance 2020”). Headquartered in Renton, Washington, Alliance 2020 is a leading service provider to mortgage originators, whose operations have now been integrated with CIS. Alliance 2020 will continue to own and operate its non-mortgage businesses including its core background and tenant screening business.
Perry Steiner, Chairman of SmithsonianCapital and CIS, stated “CIS is thrilled to partner with the Mortgage Solutions Business of Alliance 2020, its long-term customers and its valued employees. CIS is a leader in providing services to mortgage originators, and we look forward to working with the expanded client base and continuing the great work of Alliance 2020 in our industry.” 
Bradley J. Faulkes, CEO of Alliance 2020, commented, “Alliance 2020 has been in the credit reporting industry for over 20 years and we worked hard to find the right partner for our customers and employees. The transaction with CIS also allows Alliance 2020 to put its full focus on its core background and tenant screening business.” 
Mike Brown, CEO of CIS added “The combination with Alliance 2020, is a natural step in the continued growth of CIS. We look forward to building on the exceptional service that Alliance 2020 provides its clients and will continue to look for ways to expand their service offering, and to provide additional value for our clients.” 
Transaction terms were not disclosed. The transaction was funded with debt financing provided by JP Morgan Chase and Merion Investment Partners. McDonald Hopkins LLC provided legal representation to CIS in the transaction. 
About CIS Credit Solutions 
CIS Credit Solutions has been a leader in the mortgage credit industry for 35 years. CIS provides fully integrated solutions for mortgage lenders, including Tri-merge Credit Reports, Fraud Prevention, 4506T/Tax Return Verifications, Verifications of Employment, Income and Deposit/Asset, UDN, Flood Certificates, and Tenant and Employment Screening. CIS prides itself on premium service and provides the highest level of customer service in the industry. CIS’s clients range from the largest mortgage lenders in the country to independent mortgage originators; providing the same level of care and attention to both.
About SmithsonianCapital 
SmithsonianCapital is a private investment fund making majority equity control investments in a variety of services industries. SmithsonianCapital looks to partner with exceptional management teams in high value-add products and services in fragmented industries.
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<title>Corsair-backed Zedra Group buys LJ Fiduciary</title>
<link>https://www.pehub.com/2019/11/corsair-backed-zedra-group-buys-lj-fiduciary/</link>
<comments>https://www.pehub.com/2019/11/corsair-backed-zedra-group-buys-lj-fiduciary/#respond</comments>
<pubDate>Mon, 04 Nov 2019 11:41:48 +0000</pubDate>
<dc:creator><![CDATA[Luisa Beltran]]></dc:creator>
<category><![CDATA[Financial Services]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3605021</guid>
<description><![CDATA[Zedra Group, backed by Corsair Capital, said Nov. 4 that it acquired LJ Fiduciary. Alvarium is the seller. LJ Fiduciary provides private client, fund and corporate administration services.]]></description>
<content:encoded><![CDATA[Zedra Group, backed by Corsair Capital, said Nov. 4 that it acquired LJ Fiduciary. Alvarium is the seller. LJ Fiduciary provides private client, fund and corporate administration services.
PRESS RELEASE
ZEDRA reaches agreement to acquire LJ Fiduciary.
Geneva, 4th November 2019.
ZEDRA Group, the fast-growing global specialist in Trust, Corporate and Fund Services has today announced the acquisition of LJ Fiduciary, from investment firm Alvarium. LJ Fiduciary will be rebranded and merged into the existing ZEDRA network. The deal is subject to local regulatory approval.
LJ Fiduciary’s Swiss and Isle of Man service offering encompasses global private client, fund and corporate administration services that will enhance ZEDRA’s strategy in the ‘active-wealth’ space offering. This concept embraces the dynamic way ZEDRA assists wealthy families and individuals in their investment needs, by recognising that modern wealth is multifaceted and that ZEDRA is a partner that can deliver the full array of tailored, streamlined and efficient solutions.
Commenting on the acquisition, Ivo Hemelraad, ZEDRA Group Director said: “This acquisition will give us an important opportunity to fast track our growth by diversification into different client segments in these two jurisdictions, Switzerland and the Isle of Man. It will reinforce mutual strengths and strong existing market positions. LJ Fiduciary has a first class client and staff base and we look forward to welcoming both into the ZEDRA Group.”
Robert Burton, Head of LJ Fiduciary: “By joining forces with Zedra we believe our clients will benefit from enhanced global reach and a very positive cultural fit in a combined firm which will continue to focus on delivering high quality services to meet client needs. LJ Fiduciary teams will ensure a smooth transition to the combined firm without disruption to our clients or their activities.
The deal adds nearly 50 new staff to ZEDRA’s existing headcount of over 500 industry experts across 13 countries, spanning Asia, Oceania, the Americas and Europe. Total staff in Switzerland will now number over 70 whilst in the Isle of Man, staff numbers will exceed 100.
ZEDRA recently announced the acquisition of Talenture, an independent corporate services provider specialising in delivering consulting and corporate services solutions for international entrepreneurs and corporations in Lugano, Switzerland.
Last year, ZEDRA announced a strategic partnership with Corsair Capital in which the private equity group plans to take a majority stake in the Group.
 
 
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<title>Platinum Equity-backed PAE to merge with Gores Holding III</title>
<link>https://www.pehub.com/2019/11/platinum-equity-backed-pae-to-merge-with-gores-holding-iii/</link>
<comments>https://www.pehub.com/2019/11/platinum-equity-backed-pae-to-merge-with-gores-holding-iii/#respond</comments>
<pubDate>Fri, 01 Nov 2019 15:36:14 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Business Services]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3604976</guid>
<description><![CDATA[PAE, a portfolio company of Platinum Equity, has agreed to merge with Gores Holdings III, a blank check company backed by The Gores Group. The value of the deal is about $1.55 billion. Deutsche Bank Securities Inc. and Evercore acted as lead financial advisers to Gores Holdings III. Deutsche Bank Securities Inc also acted as lead capital markets adviser, while Evercore, BofA Securities and Morgan Stanley acted as capital markets advisers and Moelis & Company LLC as financial adviser. Based in Falls Church, Virginia, PAE is a provider of mission-critical services to the U.S. government, armed forces and international customers, including the U.S. Department of State, Army, Navy, Air Force, NASA and others.]]></description>
<content:encoded><![CDATA[PAE, a portfolio company of Platinum Equity, has agreed to merge with Gores Holdings III, a blank check company backed by The Gores Group. The value of the deal is about $1.55 billion. Deutsche Bank Securities Inc. and Evercore acted as lead financial advisers to Gores Holdings III. Deutsche Bank Securities Inc also acted as lead capital markets adviser, while Evercore, BofA Securities and Morgan Stanley acted as capital markets advisers and Moelis & Company LLC as financial adviser. Based in Falls Church, Virginia, PAE is a provider of mission-critical services to the U.S. government, armed forces and international customers, including the U.S. Department of State, Army, Navy, Air Force, NASA and others.
PRESS RELEASE
LOS ANGELES–(BUSINESS WIRE)–Platinum Equity portfolio company PAE (“PAE” or the “Company”), trusted provider of outsourced solutions for enduring missions of the United States government and international partners for over 60 years, announced it has entered into a definitive agreement and plan of merger with Gores Holdings III, Inc. (“Gores Holdings III”) (NASDAQ CM: GRSH, GRSHU, and GRSHW), a special purpose acquisition company sponsored by an affiliate of The Gores Group, LLC (“The Gores Group” or “Gores”). Upon closing, this transaction will introduce PAE as a publicly listed company, with an anticipated initial enterprise value of approximately $1.55 billion or 8.9x the Company’s estimated 2020 pro forma Adjusted EBITDA of approximately $174 million.
The consideration payable to the stockholders of PAE will consist of a combination of cash and shares of Gores Holdings III common stock. In addition to the $400 million of cash held in Gores Holdings III’s trust account, additional investors have committed to participate in the transaction through a $220 million private placement, led by Alec Gores, Chairman and CEO of The Gores Group. Upon completion of the transaction, including the private placement, Platinum Equity and other minority owners of PAE are expected to hold approximately 28 percent of the newly public PAE, subject to various purchase price adjustments.
Founded in 1955, PAE is a leading provider of mission-critical services to the U.S. government, armed forces and international customers, including the U.S. Department of State, Army, Navy, Air Force, NASA and others. Headquartered in Falls Church, Virginia, PAE operates in approximately 60 countries across all seven continents.
“Thanks to Platinum Equity and the hard work of our employees around the world, PAE has accomplished a lot over the past three years and is well prepared to take advantage of the opportunities ahead. With this next chapter, we will have the clear ability to accelerate our strategic plan and invest in our continued growth,” said PAE CEO John Heller. “This transaction will strengthen our capacity to deliver the most valuable, innovative services to our customers and expand into new national security markets.”
“John and the management team have been outstanding partners and I’m proud of the work we have done together since acquiring the business in 2016, deploying the full range of Platinum’s tool kit to optimize the performance of the enterprise,” said Platinum Equity Partner Louis Samson, who will become a board member of the publicly traded company. “This transaction combines PAE’s strong track record of successful M&A and a de-levered balance sheet with the public company currency of a newly listed business, which will position the company to participate in the ongoing consolidation taking place in the government services sector. We are excited to participate in the company’s continued value creation through a meaningful remaining equity stake in the business.”
Mark Stone, CEO of Gores Holdings III, said, “PAE is an industry leader given its long history and extensive portfolio of mission-critical services. At Gores, we pride ourselves in maintaining high standards for our investments and this transaction is well aligned with our business objectives. We are excited to partner with the management team and Platinum as we embark on the next chapter. Not only is PAE a differentiated leader, but the overall government services sector continues to experience positive momentum and PAE is well positioned to accelerate its growth and margin expansion.”
Key Transaction Terms 
The transaction will be effected pursuant to the Agreement and Plan of Merger (the “Merger Agreement”), entered into by and among Gores Holdings III, Shay Holding Corporation (PAE’s parent) and the other parties thereto. Concurrently with the consummation of the transaction, additional investors will purchase shares of common stock of Gores Holdings III in a private placement. After giving effect to any redemptions by the public stockholders of Gores Holdings III, the balance of the approximately $400 million in cash held in Gores Holdings III’s trust account, together with the $220 million in private placement proceeds, will be used to pay cash consideration to the stockholders of the Company, pay transaction expenses and reduce PAE’s existing indebtedness to 3.4x 2019 estimated Adjusted EBITDA. The remainder of the consideration payable to the stockholders of PAE will consist of shares of Gores Holdings III common stock.
The transaction has been unanimously approved by the boards of directors of both Gores Holdings III and the Company, and is expected to close in the first quarter of 2020, subject to customary closing conditions, including the receipt of regulatory approval, and approval of the stockholders of Gores Holdings III. Upon closing of the transaction, the name of Gores Holdings III will be changed to PAE Incorporated.
Deutsche Bank Securities Inc. and Evercore acted as lead financial advisors to Gores Holdings III. Deutsche Bank Securities Inc. also acted as lead capital markets advisor, while Evercore, BofA Securities and Morgan Stanley & Co, LLC acted as capital markets advisors and Moelis & Company LLC as financial advisor. Weil, Gotshal & Manges LLP acted as legal advisor to Gores Holdings III. Latham & Watkins LLP acted as legal advisor to Platinum Equity and PAE.
Conference Call Information 
Investors may listen to a presentation regarding the proposed transaction on Friday, November 1, 2019, starting at 10:00 a.m. ET. The call can be accessed by dialing +1 470 279 3876 and providing the conference ID: 275056, or asking for the Gores transaction announcement call.
A replay of the teleconference and webcast will also be available from November 1, 2019 at 12:00 p.m. ET to November 30, 2019 at 11:59 p.m. ET. The replay can be accessed by dialing +1 571 982 7683 and providing the conference ID: 275056#.
About PAE 
For more than 60 years, PAE has tackled the world’s toughest challenges to deliver agile and steadfast solutions to the U.S. government and its allies. With a global workforce of more than 20,000 on all seven continents and in approximately 60 countries, PAE delivers a broad range of operational support services to meet the critical needs of our clients. Our headquarters is in Falls Church, Virginia. Find us online at pae.com, on Facebook, Twitter and LinkedIn.
About Platinum Equity 
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than $19 billion of assets under management and a portfolio of approximately 40 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 24 years Platinum Equity has completed more than 250 acquisitions.
About Gores Holdings III, Inc. 
Gores Holdings III is a special purpose acquisition company sponsored by an affiliate of The Gores Group, for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Gores Holdings III completed its initial public offering in September 2018, raising approximately $400 million in cash proceeds. Gores Holdings III’s officers and certain of its directors are affiliated with The Gores Group. Founded in 1987 by Alec Gores, The Gores Group is a global investment firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm’s operating experience and flexible capital base. Over its 31-year history, The Gores Group has become a leading investor having demonstrated a reliable track record of creating value in its portfolio companies alongside management. Headquartered in Los Angeles, The Gores Group maintains offices in Boulder, CO, and London. For more information, please visit www.gores.com.
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<title>Validant buys DataRevive</title>
<link>https://www.pehub.com/2019/11/validant-buys-datarevive/</link>
<comments>https://www.pehub.com/2019/11/validant-buys-datarevive/#respond</comments>
<pubDate>Fri, 01 Nov 2019 14:43:15 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Business Services]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3604962</guid>
<description><![CDATA[Validant has acquired DataRevive, a regulatory strategy and consultancy firm that focuses on supporting pharma and biotech. No financial terms were disclosed. Validant is backed by GHO Capital.]]></description>
<content:encoded><![CDATA[Validant has acquired DataRevive, a regulatory strategy and consultancy firm that focuses on supporting pharma and biotech. No financial terms were disclosed. Validant is backed by GHO Capital.
PRESS RELEASE
Validant, a leading transatlantic quality, compliance and regulatory consulting group, has acquired DataRevive, a regulatory strategy and consultancy firm that focuses on supporting pharma and biotech to navigate the regulatory approval pathway for global clients in the US market.
Validant’s acquisition of DataRevive is part of its international growth strategy through both organic expansion and selective acquisitions and follows its partnership with GHO Capital, a leading specialist healthcare investment adviser based in London, in December 2018.
The combination of DataRevive and Validant will strengthen and expand the combined group’s service offering across regulatory driven life science consulting and allow both businesses to better serve their clients across the development lifecycle.
Established in 2016 by Audrey Jia, CEO, DataRevive is constructed around a high-quality partner base, with a mixture of ex-FDA and industry employees that bring unique expertise into the business. DataRevive focuses on novel therapeutics and biologics, the fastest growth segments of the market.
The acquisition adds a new location in Washington D.C. to complement Validant’s existing footprint in San Francisco, the Research Triangle Park in North Carolina and Cork, Ireland. With many international clients, DataRevive also broadens the group’s exposure to and expertise in significant new growth markets.
Commenting on the announcement, Brian Burns, CEO of Validant said: “We’re delighted to announce our acquisition of DataRevive and are excited about the combination with Validant. The DataRevive team brings a wealth of knowledge and new expertise into the business, complementing the Validant team. Together, we are in a better position to support our existing and new clients manage their regulatory and quality needs.”
“Joining forces with Validant will provide new commercial channels to deliver our services to a broader array of global biopharma customers. It will also strengthen our capability to provide world class quality and compliance services to enable our clients to achieve and maintain marketing applications globally” said Audrey Jia, CEO of DataRevive. “Our team are looking forward to being able to leverage the Validant network and best-in-class operating model to support a broader and growing customer base.”
About Validant 
Validant is a leading international Quality, Compliance, and Regulatory consulting firm, blending industry expertise with innovation to create custom solutions for companies on the frontier of health. The Validant network represents the largest assembly of leading engineers, scientists, clinicians, and specialists in the field. With deep experience working within and alongside the FDA, health authority, and other regulatory agencies, we understand how to navigate the complexities facing today’s healthcare industry. For further information, please visit www.validant.com
About DataRevive 
DataRevive is a leading Regulatory Affairs consulting firm, providing high quality advice and expertise from the perspective of industry and regulators to support customers from across pharma and biotech as they seek to navigate the regulatory approval process. For further information, please visit http://www.data-revive.com.
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<title>ChartCo merges with Marine Press</title>
<link>https://www.pehub.com/2019/11/chartco-merges-with-marine-press/</link>
<comments>https://www.pehub.com/2019/11/chartco-merges-with-marine-press/#respond</comments>
<pubDate>Fri, 01 Nov 2019 14:36:30 +0000</pubDate>
<dc:creator><![CDATA[Iris Dorbian]]></dc:creator>
<category><![CDATA[Business Services]]></category>
<category><![CDATA[M&A]]></category>
<guid isPermaLink="false">https://www.pehub.com/?p=3604956</guid>
<description><![CDATA[ChartCo, which is backed by Equistone Partners Europe, has merged with Marine Press, which is backed by Champlain Financial Corporation. The newly combined company will be called OneOcean and provide navigation and compliance solutions to the commercial marine industry. No financial terms were disclosed.]]></description>
<content:encoded><![CDATA[ChartCo, which is backed by Equistone Partners Europe, has merged with Marine Press, which is backed by Champlain Financial Corporation. The newly combined company will be called OneOcean and provide navigation and compliance solutions to the commercial marine industry. No financial terms were disclosed.
PRESS RELEASE
London, 1 November 2019 – ChartCo, a leading UK-based supplier of digital navigation and voyage compliance services backed by Equistone Partners Europe, has today announced its merger with the Canadian navigation solutions provider Marine Press, backed by Champlain Financial Corporation. The move will result in the creation of a new global company called OneOcean, which will become a world-leading provider of navigation and compliance solutions to the commercial marine industry.
Equistone invested in ChartCo in June 2016 through Equistone Partners Europe Fund V. The merger with Marine Press, which will be supported by a refinancing of the wider group by Pemberton, represents the third strategic transaction ChartCo has completed since Equistone’s initial investment, following its bolt-on acquisitions of Docmap in April 2017 and Marine Position in June 2017.
Tim Swales, Partner at Equistone and member of ChartCo’s board, commented: “ChartCo has firmly established itself at the forefront of the maritime navigation industry’s transition from physical products to digital services. Since our initial investment, the business has continued to grow organically and, with Equistone’s backing, completed two strategic acquisitions previously. We worked closely with ChartCo’s management team to identify Marine Press as the right partner for the business. The creation of OneOcean will provide an expanded service offering to a significant international client base, making it the global market leader.”
Martin Taylor, Chief Executive Officer of ChartCo, commented: “For some time we have been looking to further expand our business and we identified Marine Press as a like-minded partner that would complement our own business and expand the offerings to our growing international client base. Marine Press has created game-changing navigation software and award-wining products and services that will complement our own integrated digital navigation products to really create a huge step forward for both of our customer bases. The new OneOcean business will reflect the collaboration, knowledge and expertise of our two individual companies and build on individual strengths of research and development, service and support and territorial reach. I believe clients of both companies will see an immediate and comprehensive benefit to the move and I am really looking forward to working with Nicholas and his team.”
Nicholas Bourque, President of Marine Press, commented: “This is a great opportunity for the Marine Press team and our clients, and I am looking forward to the creation of this new company and the joining of our two businesses. OneOcean will have, by far, the largest R&D capability in the sector and will offer the most innovative solutions for maritime compliance and digital navigation. The technology roadmap that the combined group is working on is really exciting and will take shipping into a new digital era.”
During the coming months the two companies will transition to a single OneOcean business operation. Until then, existing sales and service operations of both ChartCo and Marine Press will continue and customer operations remain unchanged.
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