Vista Equity Partners Acquires Websense
Websense has entered into an agreement to be acquired by Vista Equity Partners in a transaction valued at approximately $1 billion. J.P. Morgan Securities, RBC Capital Markets and Guggenheim Partners have agreed to provide debt financing in connection with the transaction. Websense (NASDAQ: WBSN) specializes in computer security software which is used by customers including…
The Beekman Group Acquires NorthStar Alarm Services
The Beekman Group has acquired NorthStar Alarm Services, a residential security alarm provider. Beekman partnered with NorthStar’s founder, Jason Christensen, and the current management team, who will continue to lead the company and maintain a significant ownership interest. “I am extremely excited to partner with The Beekman Group to pursue the next phase of growth…
Glencoe Capital Acquires South Shore Venture Enterprises
Budco, a marketing services provider and a portfolio company of Glencoe Capital, has acquired South Shore Venture Enterprises, a Medicare direct marketing company. South Shore specializes in direct marketing to senior citizens and represents 38 Medicare Advantage and Medicare Supplement plans. South Shore provides direct mail, customer care, data analysis and modeling and incentives. The…
Svoboda Acquires R.J. Vedovell
Monroe Engineering, a portfolio company of Svoboda Capital Partners, has acquired R.J. Vedovell, a supplier of O-rings and gaskets. This transaction is the second add-on acquisition for Monroe since being acquired by Svoboda in May 2011. R.J. Vedovell is a supplier of O-rings, gaskets, seals and molded rubber. The company sells its products to a…
Trivest Acquires American Covers
Trivest Partners has acquired American Covers (dba HandStands), a designer and supplier of automotive air freshener products. The existing HandStands shareholders have retained a significant equity interest in the company. The acquisition of HandStands represents the 1st platform company investment for Trivest Fund V, a $415 million fund which closed in October 2012. Chris Anderson,…
Fulcrum Invests in Tradesmen
Fulcrum Capital Partners has made a C$20 million equity investment in Tradesmen Enterprises, a facility and pipeline construction contractor. Tradesmen is the sixth investment for Fulcrum’s fourth investment fund. Tradesmen Enterprises is a facility and pipeline construction contractor with a particular focus on modular fabrication. The company has completed over 300 projects throughout Northern Alberta…
BDCA Launches into the Lower Middle Market
Business Development Corporation of America (BDCA), part of American Realty Capital, has hired a team of three professionals to launch a new lower middle market investing effort. Lloyd Sams and Scott Chappell join BDCA as managing directors and Damien Dovi joins as a director. BDCA will invest in both sponsored and non-sponsored middle market investment…
GE Antares Backs Greenbriar Buy of EDAC
GE Antares served as administrative agent for an $89.5 million senior credit facility to support Greenbriar Equity Group’s acquisition of EDAC Technologies Corporation, a designer, manufacturer and servicer of precision components for aerospace and industrial applications. GE Capital Markets acted as joint lead arranger and sole bookrunner. “We view GE Antares as an excellent choice…
Luxury Goods Continues Annual Growth
According to Bain & Company revenues for the worldwide luxury goods market will grow as much as 50 percent faster than global GDP, with an expectation of four to five percent growth in 2013 and five to six percent annual average growth through 2015, on track to break the €250 billion sales threshold by mid-decade.…
Spire has First Close for Fund 3
Spire Capital Partners has held a closing of its third investment fund, Spire Capital Partners III, L.P, at $100 million. The target for the new fund is $375 million. Spire Capital’s earlier fund, Spire Capital Partners II, L.P, had $320 million of capital commitments and was raised in 2008. With this first close, Spire is…
Portfolio Company Hold Periods Expanding
According to Preqin, a provider of alternative assets industry data, the 2007 financial crisis has caused the holding period for private equity portfolio companies to expand significantly as funds are struggling to sell investments that were purchased at peak prices during the buyout boom. The average holding period for private equity-backed portfolio companies sold in…
Denham Capital Selects iLevel
Denham Capital, a private equity firm with over $7 billion in invested and committed funds, has selected iLevel Solutions to monitor the performance of its investment portfolio. Private equity fund managers use iLevel to automate data collection, fast-track portfolio company valuation, accelerate internal and investor reporting and facilitate performance measurement. “With iLevel, we have complete…
