NepFin DealWatch as of May 25, 2020

May 26, 2020

NepFin DealWatch is the definitive source for the latest deals in the lower middle market. For the week preceding May 26, here are some of the most recent transactions. To see one of your deals featured, please submit the details here.

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NepFin is actively pursuing primary and secondary financing opportunities as we continue to monitor market conditions in light of the COVID-19 pandemic.

 

Business Services

  • Providence Strategic Growth invested in Assembly, a Culver City, CA-based provider of software and services for e-commerce merchants and businesses; the proceeds were used to acquired Helium10, an Irvine, CA-based provider of optimization services for Amazon storefronts; Northbound Group advised on the transaction
  • Open Systems, backed by EQT Group, acquired Born in the Cloud, a Clinton Township, MI-based provider of managed cybersecurity services
  • Cascadily acquired Breakout EDU, a San Francisco, CA-based designer of learning games for the K-12 classroom; LBC Small Cap provided equity and debt financing for the transaction
  • Avtex, backed by Norwest Equity Partners, acquired the contact center business and Gensys portfolio of Communications Products, Inc., an Indianapolis, IN-based provider of contact center and communication solutions
  • Tanknology, backed by Hamilton Robinson Capital Partners, acquired Compliance Testing & Technology, a Cedarburg, WI-based provider of environmental compliance services; Generational Equity advised on the transaction
  • Charlesbank Capital Partners invested in Cyberbit, a Raanana, Israel-based provider of cyber range platforms for training cybersecurity professionals; Elbit Systems remains a minority investor
  • Morgan Stanley Expansion Capital and PeakSpan Capital invested in Ecwid, an Encinitas, CA-based provider of digital storefront services and selling solutions for small businesses
  • Aurora Capital Partners acquired FMG Suite, a San Diego, CA-based cloud-based marketing automation software for financial services professionals, from K1 Investment Management; Lincoln International and Harris Williams advised on the transaction
  • Lineage Logistics, backed by Bay Grove Capital, acquired the last mile food service distribution assets of Maines Paper & Food Service, a Conklin, NY-based food service distribution company
  • O2 Investment Partners acquired SIB Fixed Cost Reduction, a Charleston, SC-based provider of cost analysis and cost reduction services; LBC Small Cap financed the transaction
  • TimeCentric acquired Time Rack, a Corona, CA-based provider of time and labor management software
  • Team Whistle, backed by Beringea, acquired Tiny Horse, a Los Angeles, CA-based marketing services firm
  • Additional transactions

Consumer

  • McClean Family Farms and Sweat Equities invested in Citrus Extracts, a Fort Pierce, FL-based supplier of dehydrated citrus peels to food service customers; The Firmament Group financed the transaction
  • Encore Vet Group, backed by North Castle Partners, acquired Friendship Hospital for Animals, a Washington, DC-based veterinary hospital
  • Bain Capital Tech Opportunities invested in Hudl, a Lincoln, NE-based sports performance analysis platform
  • The Bakery Companies, backed by Arbor Investments, acquired a Smyrna, GA-based baking facility from Specialty Bakers, a portfolio company of Stonebridge Partners
  • Additional transactions

Financial Services-1

  • Integrity Marketing Group, backed by Harvest Partners and HGGC, acquired Equis Financial, an Asheville, NC-based provider of marketing services for independent insurance organizations and agencies
  • Simplicity Group Holdings, backed by Aquiline Capital Partners, acquired First Income Advisors, an Eden Prairie, MN-based independent financial marketing organization
  • MAI Capital Management, backed by Wealth Partners Capital Group, acquired Grisanti Capital Management, a New York, NY-based wealth management platform
  • AmeriLife Group, backed by Thomas H. Lee Partners, acquired Pinnacle Financial Services, a Warminster, PA-based insurance brokerage firm
  • Ontario Systems, backed by New Mountain Capital, acquired SwervePay, a Chicago, IL-based provider of payments and accounts receivable management (ARM) solutions
  • NFP, backed by Madison Dearborn Partners, acquired Team Scotti, a Pittsburgh, PA-based independent insurance and employee benefits agency servicing Major and Minor League Baseball
  • Copley Equity Partners acquired Tourmaline Partners, a Stamford, CT-based provider of outsourced trading solutions and services
  • Additional transactions

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Healthcare

  • ArchiMed acquired ActiGraph, a Pensacola, FL-based provider of medical-grade physical activity and sleep monitoring solutions; Edgemont Partners advised on the transaction
  • Acorn Health, backed by MBF Healthcare Partners, acquired Behavior Basics, an Alexandria, VA-based provider center-based and in-home Applied Behavior Analysis (ABA) therapy
  • Bain Capital Double Impact invested in Broadstep Behavioral Health, a Milwaukee, WI-based provider of programs and services to individuals living with intellectual, developmental or behavioral disabilities
  • Prospect Medical Group, backed by Leonard Green & Partners, acquired three independent physician associations (IPA): (i) CalCare IPA based in Corona, CA, (ii) Los Angeles Medical Center IPA based in Corona, CA, and (iii) Vantage Medical Group based in Riverside, CA
  • US Fertility, a joint venture by Amulet Capital Partners and Shady Grove focused on non-clinical services business services to fertility clinics, acquired the clinical and practice management software assets of IntegraMed, a Purchase, NY-based provider of consulting services to fertility clinics
  • Senior Helpers, backed by Altaris Capital Partners, acquired Lowcountry Companions, a Mount Pleasant, SC-based provider of home and hospice care to elders
  • Newlight Partners invested in Zing Health, a Chicago, IL-based Medicare Advantage HMO plan designed for Medicare-eligible beneficiaries
  • Additional transactions

TMT

  • Warburg Pincus invested in BetterCloud, a New York, NY-based saaSOps platform for managing and securing digital workplaces
  • Smarsh, backed by K1 Investment Management, acquired Entreda, a Santa Clara, CA-based provider of cybersecurity software, systems and training to the wealth management industry
  • MVP Capital Partners acquired Golf Genius Software, a Wayne, PA-based provider of cloud-based tournament management software to the golf industry
  • Prometheus Group, backed by Genstar Capital, acquired VIZIYA, a Hamilton, ON-based developer of enterprise asset management software for ERP-based asset maintenance systems
  • Segra, backed by EQT Group, acquired NorthState, a High Point, NC-based provider of high-speed bandwidth services; Wells Fargo Securities and TD Securities advised on the transaction
  • Additional transactions

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Deal information described in DealWatch is obtained from publicly available sources or as communicated to NepFin without restrictions on confidentiality. NepFin makes efforts to ensure the information provided is accurate as of the date of its collection, but NepFin cannot guarantee that there will be no errors. NepFin makes no claims, promises or guarantees about the accuracy, completeness, or adequacy of the contents of the newsletter and expressly disclaims liability for errors and omissions in the contents of this newsletter.

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