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GTCR and Sycamore Partners Complete Acquisition of CommerceHub
May 21, 2018 – Affiliates of GTCR and Sycamore Partners, two leading private equity firms, today announced the closing of the acquisition of CommerceHub, Inc. (“CommerceHub” or the “Company”), a leading distributed commerce network for retailers and brands. “The closing of this transaction represents a new and exciting chapter for CommerceHub,” said Frank Poore, CommerceHub’s Founder, President and CEO, who will continue in these roles. “GTCR and Sycamore Partners each bring deep industry expertise to help us to execute our vision for the future of retail. Together, we look forward to accelerating the development of CommerceHub’s platform to transform how retailers and brands drive growth through ecommerce.” “CommerceHub benefits from a highly strategic position in ecommerce due to its differentiated platform that enables retailers’ most critical growth strategies,” said Mark Anderson, Managing Director of GTCR. “We are excited to build on CommerceHub’s momentum and deliver on its vision for a
Clearlake Capital Portfolio Company Acquires Automotive Products Provider
SANTA MONICA, CA and GREENWOOD VILLAGE, CO – June 4, 2018 – Wheel Pros, a leading designer, marketer, and distributor of branded automotive aftermarket wheels, performance tires, and accessories, today announced that it has completed the acquisition of Amcor Industries, Inc. (d/b/a Gorilla Automotive Products) (“Gorilla”), a leading designer and distributor of branded automotive aftermarket lug nuts and wheel locks. Financial terms of the transaction were not disclosed. Gorilla designs, manufactures, and sells branded lug nuts, wheel locks, and accessories to retailers across North America, adding a complementary portfolio of aftermarket accessories to Wheel Pros’ expanding selection of products. Wheel Pros currently serves more than 10,000 retailers with a global network of 33 distribution centers spanning North America and Australia. The Company has a portfolio of 12 proprietary brands with more than 300 custom wheel styles, including some of the most recognized designs in the industry. “We are excited to welcome
Wicks Group Portfolio Company Acquires DatStat
Seattle, WA, April 4, 2018 – SCI Solutions (SCI), a leading patient access and care coordination software company, today announced it has acquired DatStat, a leading provider of patient engagement and digital health tools. The combination of SCI’s market-leading patient scheduling, referral management and revenue cycle software with DatStat’s digital self-service tools for pre-visit preparation, secure messaging, visit summaries and care plans, creates a complete patient access and engagement solution for patients to conveniently connect with their care teams and manage their health. “In our consumer-driven health model, provider organizations need to fundamentally reimagine ways to deliver online service and convenience expected by consumers who have grown accustomed to digital engagement throughout their daily lives,” said Joel French, CEO of SCI Solutions. “By partnering with DatStat, SCI will eliminate the divide between today’s complex health enterprises and individuals wanting to be personally engaged, understood and involved in their care. These
Plantronics to Acquire Siris Capital Portfolio Company in $2B Deal
SANTA CRUZ, Calif., March 28, 2018 (GLOBE NEWSWIRE) — Plantronics (NYSE: PLT) and Polycom today announced that they have entered into a definitive agreement under which Plantronics will acquire Polycom in a cash and stock transaction valued at $2.0 billion enterprise value. The transaction has been unanimously approved by the boards of directors of both companies, is subject to regulatory approvals and other customary closing conditions, and is expected to close by the end of the third calendar quarter of 2018. Compelling Strategic Rationale With the acquisition of Polycom, Plantronics will become the partner of choice for the communications and collaboration ecosystem. The combination: Accelerates Plantronics Strategy. Polycom brings a global leadership position in voice and video collaboration, accelerating Plantronics vision of delivering new communications and collaboration experiences. Broadens Portfolio. With the addition of Polycom, Plantronics will have the broadest portfolio of complementary products and services across the global communications
GenNx360 Acquires GenServe Inc.
GenNx360 Capital Partners (“GenNx360”), a New York-based private equity firm which invests in middle market business services and industrial companies is pleased to announce its acquisition of GenServe Inc. (“GenServe” or the “Company”), effective April 12, 2018. GenServe is the largest independent provider of scheduled and emergency power generator maintenance, repair and sales in the North Atlantic region serving primarily commercial customers in various industries. The Company’s complete and extensive service platform positions it as a one-stop-shop for all generator needs. Established in 1990, the Company has more than 80 employees, including the largest team of Electrical Generating Systems Association (EGSA) certified technicians in the Northeast. GenServe is headquartered in Plainview, NY with two additional branch offices in Fairfield, NJ and Pennsauken, NJ. “We are excited to begin this partnership with GenServe. Its talented employees and leadership have built a great company with a stellar reputation for safety, quality, and
Clearlake Capital Group Portfolio Company Acquires Programming Research Ltd.
Minneapolis, Minn. – May 2, 2018 – Perforce Software (“Perforce”), a global provider of solutions to enterprise teams requiring productivity, visibility and scale during all phases of the technology development lifecycle, backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”), today announced the acquisition of UK-based Programming Research Ltd. (“PRQA”), a leading provider of sophisticated, enterprise-grade static code analysis. The acquisition expands the Perforce portfolio of solutions by adding PRQA’s family of Static Code Analyzers that assess software reliability, security and compliance while reducing development time. Growth through acquisition is an integral part of Perforce’s business strategy to develop a comprehensive portfolio of leading enterprise scale software solutions for technology developers and development operations (“DevOps”) teams. The acquisition of PRQA represents Perforce’s fourth successful acquisition in the past two years, and its first under Clearlake’s new ownership, which was announced in early January 2018. “With this latest acquisition
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
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
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
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