WASHINGTON, MARCH 29, 2018 – Some of the nation’s top-performing diverse investment managers met recently with institutional investors from the Detroit Metropolitan Area to showcase how investing with minority-owned firms could lead to greater returns for retirement plans. Hosted by the National Association of Investment Companies (NAIC), the institutions represented at the Detroit Institutional Investor Roadshow included: UAW Retiree Medical Benefits Trust, City of Detroit General Retirement System, City of Detroit Police and Fire Retirement System, Michigan Department of Treasury, Kresge Investments, Rocaton Investment Advisors and DTE Energy. Collectively, the retirement plans represent more than $160 billion in assets under management. NAIC’s Institutional Investor Roadshows visit various US cities to meet with local institutional investors and government officials to discuss manager performance, investment strategies and emerging manager programs. Many diverse-owned investment firms have generated stellar returns despite being overlooked by many institutional investors – even those located in racially diverse
Clearlake Capital’s ConvergeOne to Acquire Communications Assets
EAGAN, Minn., February 15, 2018 — ConvergeOne, a leading global IT services provider of collaboration and technology solutions, today announced that it has signed an agreement to acquire Arrow Electronics’ Systems Integration business, specializing in unified communications, contact center, and voice and data technologies. Completion of the transaction is expected to occur within 30 days. This acquisition further solidifies ConvergeOne’s position as a leading provider of collaboration and IT-enabled solutions in the market today. “This acquisition will be an ideal addition to ConvergeOne, supporting our continued strategy to grow customer relationships by providing comprehensive solutions, services, and support,” said John A. McKenna Jr., chairman and CEO, ConvergeOne. “Arrow’s Systems Integration business shares our customer-focused approach, and brings a strong portfolio of cloud services as well as business expertise in the federal, state and local government, and healthcare industry verticals. This acquisition will enable us to increase our national presence and expand
NEW YORK, Feb. 9, 2018 /PRNewswire-USNewswire/ — On February 7th, the Private Equity Women’s Initiative hosted its second annual Forum at KPMG LLP headquarters in New York City with the aim of increasing gender diversity throughout the private equity industry. The Forum specifically included interactive discussions, case study analyses, networking opportunities, and insight from top industry executives. Over 80 top private equity professionals attended the Forum and worked to identify the best practices to recruit, retain, and advance women within the private equity industry. The Forum is part of the Private Equity Women’s Initiative, a partnership between the National Association of Investment Companies (NAIC) and the American Investment Council (AIC). Attendees heard from representatives of two of the largest public pension funds in the country, Ted Eliopoulos, Chief Investment Officer of CalPERS, and Scott Evans, Chief Investment Officer of New York City Retirement Systems. The Forum also included a roundtable
Grain Management Acquires Controlling Stake in Fiber Optic WANs Provider
(Lenexa, Kansas) – WANRack, LLC announced today that Grain Management, LLC, a leading private equity firm focused on investments in the communications sector, has acquired a controlling interest in the company. The capital from this investment will enable WANRack to advance its explosive growth in the private fiber Wide-Area Network (WAN) market. “We are thrilled to be partnering with Grain Management to take our company to the next level,” said Rob Oyler, WANRack CEO. “The additional capital and sector expertise that Grain Management brings to this partnership will accelerate our expansion into larger markets and additional lines of business.” WANRack builds private fiber networks from scratch, utilizing the company’s extensive experience in construction management, engineering, permitting, right-of-way expertise, and the federal E-Rate program. A WANRack network offers superior bandwidth, scalability, and security as compared to traditional cable or telephone company offerings. “We are excited to partner with WANRack and have
New MainStream Capital Completes Recapitalization of Dermatological Practice
New York, NY, January 30, 2018 – New MainStream Capital (“NMS”), a New York-based lower middle market private equity firm specializing in healthcare services and business services, announced today that it has completed a recapitalization of Anne Arundel Dermatology Management (“ADM” or the “Company”) with participation from Pantheon, a global private equity, infrastructure and real assets investor. Pantheon has acquired a minority ownership interest in the Company, and NMS will continue as the lead and control investor in ADM. The Company’s existing management team and physician owners will continue to lead ADM and retain a significant ownership stake in the Company. Based in Severna Park, Maryland, ADM is the largest provider of dermatology services in the state of Maryland and has additional locations in Virginia and Tennessee. ADM employs 76 providers across a platform of 33 locations providing a comprehensive suite of dermatologic services, including general dermatology, advanced treatment for
Astra Capital Management Company to Acquire Fiber Assets
HOUSTON, Jan. 29, 2018 /PRNewswire/ — LOGIX Fiber Networks (“LOGIX”), the largest Texas based independent fiber network provider, is increasing its network reach through a $10 million purchase and exchange of fiber assets with FiberLight, LLC (“FiberLight”), an industry leader in providing high-performance metro and long haul fiber transport services. Through the purchase, LOGIX will gain nearly 400 route miles and over 5,000 miles of fiber in its markets of Dallas, Austin and San Antonio. The purchased fiber assets boost LOGIX’s scale in these markets and will greatly expand the company’s reach to hundreds of new commercial buildings and thousands of potential customers. Additionally, the two companies will exchange approximately 1,500 fiber miles within their respective Texas footprints, allowing them to better address specific growth opportunities and accelerate their respective expansion activities within the state. “LOGIX is committed to providing premier fiber services in our high-growth Texas markets,” says Dave Dane, Chief Executive Officer
RLJ Acquires Stake in New England-Based Foodservice Distributor
BETHESDA, Md., Jan. 24, 2017 /PRNewswire/ — RLJ Equity Partners LLC (“RLJ”), an affiliate of the RLJ Companies, and SJ Partners, LLC (“SJP”), through its affiliate SJ Capital Partners VI LLC, has acquired majority control of Native Maine Produce and Specialty Foods, LLC (“Native Maine”), Maine’s largest fresh foodservice distributor. “We are thrilled to welcome SJ Partners and RLJ to the Native Maine family. We have had a multi- year relationship with SJP and believe their industry knowledge and previous growth by acquisition success are a great fit. We’re also excited to partner with the exceptional leaders at RLJ,” said Joe Pizzo, the shareholder who will continue running the operation. “We think Joe and his team have built a solid franchise and look forward to partnering together. Native Maine has an impressive roster of over 1,000 clients with many relationships that date over 10 years, who value its high level
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