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Pharos Capital Launches Oncology Practice, Clinical Research Management Platform
DALLAS & NASHVILLE, Tenn.—(BUSINESS WIRE)—Pharos Capital Group, LLC (“Pharos”), a private equity firm based in Dallas and Nashville, announced it has acquired Horizon Oncology (“Horizon”), headquartered in Lafayette, Indiana. The acquisition marks the launch of Verdi Oncology, Inc. (“Verdi”), an oncology practice and clinical research management company. Verdi will focus on aggregating high-quality oncology practices that participate or qualify to participate in the Oncology Care Model program, a value-based care payment program backed by CMS, and similar value-based care payment programs offered by commercial payors. Pharos is partnering with Wes Chapman, a seasoned executive in the oncology industry, who will serve as Chief Executive Officer of Verdi. Founded in 2001 by Dr. Wael A. Harb, Horizon has four providers offering oncology and hematology services. Additionally, the practice offers cutting edge clinical trials opportunities for patients throughout the Midwest. Terms of the transaction were not disclosed. “We are thrilled to launch
GenNx360 Capital Acquires Housing Solutions Provider
GenNx360 Capital Partners (“GenNx360”), a New York-based private equity firm which invests in middle market business services and industrial companies announced today its acquisition of CRS Temporary Housing (“CRS” or “Company”), a leading asset-light provider of professionalized relocation and temporary housing solutions. Terms of the transaction were not disclosed. Founded nearly 30 years ago and headquartered in Phoenix, Arizona, CRS employs over 100 highly trained professionals. The Company services the property and casualty insurance industry providing relocation and temporary housing solutions to dislocated policyholders. This dislocation typically results from fire or water damage with CRS assisting the policyholder from the time of initial loss through completion of repair and subsequent move-in. CRS provides a service that is deemed critical to the carrier as well as to the homeowner. Its customer base is diverse and includes many of the leading insurance carriers. Monty Yort, the Managing Partner at GenNx360 who led
Clearlake Capital Closes Fund V at Over $3.6 Billion
Santa Monica, CA – March 16, 2018– Clearlake Capital Group, L.P. (“Clearlake”), a leading investment firm with a sector-focused approach, announced today it has completed fundraising for Clearlake Capital Partners V (“Fund V”) with over $3.6 billion in commitments. Fund V exceeded its target and was substantially oversubscribed, reaching its hard cap. At over $3.6 billion, Fund V is Clearlake’s largest private equity fund to date. This brings Clearlake’s total cumulative capital commitments since inception to more than $7 billion. Fund V has already begun investing with several signed or closed transactions including Perforce Software, Diligent Corporation, Janus International, ProVation Medical, and Wheel Pros. “We are thankful and humbled by the opportunity to prudently invest on behalf of our prominent and expanding base of global Limited Partners,” said José E. Feliciano, Co-Founder and Managing Partner at Clearlake. “We believe that the interest in Fund V is an acknowledgment of Clearlake’s
One Rock Capital Partners Sells Airxcel
NEW YORK, March 14, 2018 – One Rock Capital Partners, LLC (“One Rock”) announced today that one of its affiliates has signed a definitive agreement to sell AXL Holdings, Inc. (“Airxcel”) to L Catterton. Airxcel is one of the largest suppliers of industry-leading branded products to the RV industry and niche segments of the industrial and commercial HVAC market. Financial terms were not disclosed. “Since our acquisition in 2014, Airxcel has nearly doubled earnings through strong organic growth, internal operational improvements and the acquisition and integration of three highly complementary businesses. The business is well-positioned to continue on that trajectory under the leadership of CEO Jeff Rutherford and his management team,” said One Rock Managing Partner Tony W. Lee. “During One Rock’s ownership Airxcel reduced working capital by half, implemented lean manufacturing practices throughout its production footprint and successfully integrated three acquisitions, while building an active pipeline of future opportunities.
Clearlake Capital Portfolio Company Acquires Global IT Services Provider
EAGAN, Minn., December 18, 2017 – ConvergeOne, a leading global IT services provider of collaboration and technology solutions, today announced that it has acquired Alexander Open Systems (“AOS”), a leading IT consulting group headquartered in Overland Park, Kansas. Effective immediately, AOS is now AOS, a ConvergeOne Company. This acquisition further solidifies ConvergeOne’s position as a leading provider of collaboration and IT-enabled solutions in the market today. ConvergeOne serves as a trusted advisor to more than 11,000 customers, including 57 percent of the Fortune 100 and 42 percent of the Fortune 500 across the healthcare, finance, manufacturing, education, and energy industries. A Microsoft Gold Partner, AOS specializes in architecting, implementing and supporting an expansive portfolio of solutions including cloud, collaboration, data center, networking, security, virtualization, business intelligence and more. “This acquisition enables us to broaden our portfolio and expand our coverage in the United States. AOS has been providing leading edge
Vista Completes Acquisition of Data Protection Solutions Provider
NORWALK, Conn.–(BUSINESS WIRE)–Datto, the leading provider of total data protection solutions for businesses around the world, today announced it has finalized its acquisition by Vista Equity Partners (“Vista”), a leading investment firm focused on software, data and technology-enabled businesses. The acquisition, first announced in late October, and the simultaneous merger with Vista portfolio company Autotask, have been followed by an intensive integration between the companies. The result is a single entity designed to empower Managed Service Providers (“MSPs”) with Autotask’s in demand IT business management offerings and Datto’s award-winning data protection solutions. As part of joining forces, Datto announced the formation of a new executive team. Under the direction of Datto CEO and Founder, Austin McChord, the senior management will now include Patrick Burns, Vice President of Product Management and Adam Stewart, Senior Vice President of Engineering of Autotask who will join the pre-existing Datto team. “With a small and
Siris Affiliates to Acquire Intralinks Holdings, Invest in Synchronoss
NEW YORK, October 17, 2017 – Siris Capital Group, LLC (“Siris”) today announced that investment funds affiliated with Siris have entered into a definitive agreement to acquire 100% of the common stock of Intralinks Holdings, Inc. (“Intralinks”), a global leader for secure data sharing and enterprise collaboration solutions and a wholly owned subsidiary of Synchronoss Technologies, Inc. (“Synchronoss”) (NASDAQ: SNCR), a leading provider of cloud-based, white-label software solutions for communications and media companies. Investment funds affiliated with Siris have also entered into a definitive agreement to make an investment in convertible preferred equity of Synchronoss. Under the terms of the agreements, investment funds affiliated with Siris will acquire all of the stock of Intralinks for approximately $1 billion in consideration and Intralinks will become an independent, privately owned portfolio company of investment funds affiliated with Siris. Under the terms of the agreements, investment funds affiliated with Siris will make an
Vista Equity Partners Completes Acquisition of Xactly
SAN JOSE, Calif.–(BUSINESS WIRE)–Xactly (NYSE:XTLY), a leading provider of cloud-based incentive solutions, today announced that it has been acquired by Vista Equity Partners (“Vista”), a leading private equity firm focused on investments in software, data and technology-enabled businesses. The transaction, originally announced on May 30, 2017, was completed on July 31, 2017. Xactly’s stockholders approved the acquisition on July 28, 2017. The acquisition – which combines Xactly’s product and industry leadership with Vista’s strategic and operational expertise for high-growth SaaS companies – begins the next phase of growth for Xactly, in which the company will continue to focus on innovation and thought leadership in cloud-based incentive compensation solutions. “Twelve years ago, we set out on a mission to transform the way companies approach incentive compensation,” said Christopher W. Cabrera, founder and CEO of Xactly. “Joining Vista marks a significant milestone on our journey. Vista is the ideal partner to accelerate
Siris Capital Company Acquires Virtual Application Delivery Controller Business
SAN JOSE, CA – AUGUST 1st 2017 – Pulse Secure, LLC (“Pulse Secure”), a leading provider of secure access solutions to both enterprises and service providers, today announced that it has completed the acquisition of assets associated with the Virtual Application Delivery Controller (vADC) product family from Brocade Communications Systems, Inc. (“Brocade”). The transaction includes a leased research and development facility in Cambridge, UK and associated customer support and maintenance contracts. The acquisition adds significant new capabilities to the Pulse Secure Access Platform offering a complete end-to-end Secure Access solution designed to reduce cost and complexity, increase security, and delight users. “This acquisition is not only about adding great products to our Secure Access platform, it’s about gaining an outstanding team who are seasoned in the vADC industry,” said Sudhakar Ramakrishna, CEO of Pulse Secure. “Combining the vADC group with our existing Pulse team, we are truly a force to
Neuberger Berman Portfolio Company Acquires Fashion Brand
Los Angeles and New York, August 1, 2017 – Marquee Brands LLC announced today that it has acquired the entire portfolio of brands from BCBG Max Azria Global Holdings, LLC including the BCBGMAXAZRIA®, BCBGeneration® Herve Leger® brands and all related intellectual property. Established in 1989, BCBG Max Azria was launched and named for the French phrase “bon chic, bon genre” (great style, great attitude) and quickly took the fashion world by storm, becoming synonymous with European flare, American style and affordable pricing. Throughout its history, BCBG has been a favorite amongst influencers and celebrities and is a staple in women’s wardrobes. “Acquiring these three brands is transformational for Marquee as we step firmly into women’s fashion and further diversify our portfolio,” said Zachary Sigel, Managing Director of Neuberger Berman. “Our mandate and focus on buying relevant brands with their greatest years ahead hasn’t wavered and this acquisition further evidences that