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NAIC News

Wicks Group Acquires Provider of Digital Content
The Wicks Group Acquires Gladson – Gladson Holdings, LLC (“Gladson” or the “Company”), announced that The Wicks Group of Companies, LLC (“Wicks”), a New York-based private investment firm, has completed the acquisition of the Company. The terms of the transaction, which closed on January 25, 2017, were not disclosed. Founded in 1971 and headquartered in Lisle, IL, Gladson is a leading provider of digital content and retail omni-channel optimization solutions for the consumer-packaged goods (“CPG”) and fast-moving consumer goods (“FMCG”) industries. Gladson delivers product data to support omni-channel initiatives that improve shopper engagement and that maximize efficiency within retail, online and logistics operations. The Company owns the largest proprietary product content library in the industry, containing more than 1 million individual products and 8 million product images. Its blue-chip client base includes some of the biggest household names in the CPG, FMCG, and retail industries. “We are excited to partner
New MainStream Portfolio Company Acquires Dermatological Services Provider
Annapolis, MD, January 25, 2017 – Anne Arundel Dermatology Management (“ADM”), a portfolio company of New MainStream Capital (“NMS”), announced today that it has acquired Maryland Dermatology Associates, LLC (“MDA”). Founded by Dr. Juris Germanas, MDA has been providing general, surgical and cosmetic dermatology services to the Westminster, MD area for over seven years. The practice, with locations in Westminster, Mt. Airy and Eldersburg, MD, will operate under the “Anne Arundel Dermatology” brand name. “We are excited to expand our footprint into the northern Maryland area with this acquisition,” said Ed Ponatoski, Chief Executive Officer of ADM. “Dr. Germanas has built a great practice with a tremendous team providing high-quality care. We look forward to expanding our presence in these underserved Maryland markets, including the relocation of the Eldersburg office next week and the opening of an expanded Westminster office in the next few months.” Dr. Germanas commented, “I am
Neuberger Berman Division Closes Fund III with $5.3 Billion
New York and London, February 14, 2017 — Dyal Capital Partners (Dyal), a division of Neuberger Berman Group, announced today that in December it closed Dyal Capital Partners III (PE), its third fund, with approximately $5.3 billion of committed capital. Dyal increased the target fund size by over $2.0 billion during the marketing period, as investment opportunities increased and investor interest in the strategy was strong. The fund was heavily oversubscribed at the final close. Aggregate commitments across all Dyal funds now total more than $8.7 billion from 160 unique global investors, solidifying Dyal’s position as the leading provider of minority equity capital to well-established private equity and hedge fund management companies. Dyal has formed minority partnerships with 20 firms and expects to announce several more relationships in 2017. Dyal Capital Partners III (PE) (the “Fund”) is the largest fund ever raised to acquire minority interests in leading institutional private
Vista Portfolio Company Acquires Cloud Security Provider
Austin – February 8, 2017 – Global cybersecurity leader Forcepoint™ today announced the acquisition of the Skyfence business from Imperva. The acquisition plays a pivotal role in Forcepoint’s strategy to deliver cybersecurity systems that help customers understand people’s behaviors and intent as they interact with data and IP wherever it may reside, including fast-growing cloud applications. “Forcepoint is committed to enabling our customers to empower individuals to leverage critical business data and intellectual property how, when and where they choose,” said Matthew P. Moynahan, chief executive officer of Forcepoint. “The integration of Skyfence across Forcepoint’s broad product portfolio will further deliver on this promise, while helping to reduce enterprise security risk.” Integrating Skyfence’s cloud access security broker (CASB) capabilities with Forcepoint’s web security and data loss prevention (DLP) technologies will provide customers increased visibility, control and security as users interact with data wherever it resides, including within cloud applications. The
Clearlake Capital Portfolio Company Prices Public Offering
THE WOODLANDS, TX, February 2, 2017 – Smart Sand, Inc. (the “Company”) has priced a public offering of 5,950,000 shares of its common stock at $17.50 per share, of which 1,500,000 shares are to be sold by the Company and 4,450,000 shares are to be sold by the selling stockholders named in the registration statement on Form S-1 filed previously with the U.S. Securities and Exchange Commission (“SEC”). The selling stockholders have granted the underwriters a 30-day option to purchase from the selling stockholders up to an additional 892,500 shares of the Company’s common stock. The Company’s shares of common stock are traded on the NASDAQ Global Select Market under the ticker symbol “SND.” The offering is expected to close on February 7, 2017, subject to customary closing conditions. The Company intends to use the net proceeds it receives from the offering for future capital projects and general corporate purposes.
Siris Capital Portfolio Company to Acquire Provider of Cloud Communications Services
ATLANTA, January 12, 2017 – PGi, the world’s largest dedicated provider of collaboration software and services, today announced that it has entered into a definitive agreement to acquire Denver-based ReadyTalk, a leading provider of cloud communications services, including audio, web and video conferencing, and self-service and managed webinar solutions. “We have admired ReadyTalk for years. They are well-known for having great products built by great people with a strong commitment to the success of their customers and partners,” said Ted Schrafft, President and CEO, PGi. “ReadyTalk’s focus on mid-market customers and carrier partners aligns perfectly with PGi’s strategic and go-to-market priorities for 2017 and beyond. We are excited to welcome ReadyTalk to the growing PGi family later this month.” ReadyTalk was founded in 2001 and, today, provides collaboration software and services to more than 6,000 small- and mid-sized businesses. Like PGi, ReadyTalk has differentiated its brand in a competitive market
Siris Capital Affiliate to Acquire Mitel Mobile and Ranzure Networks
WAKEFIELD, MA, December 19, 2016 – Xura, Inc. (“Xura”), a leading provider of digital communications services, today announced that its affiliates have entered into definitive agreements to acquire Mitel Mobility, Inc. (“Mitel Mobile”), a division of Mitel Networks Corporation (“Mitel”, Nasdaq: MITL, TSX: MNW), and Ranzure Networks, Inc. (“Ranzure”). Mitel Mobile, formerly Mavenir Systems, is a leading provider of Voice-over-Long-Term Evolution (“VoLTE”), Voice-over-WiFi (“VoWiFi”), video, Rich Communication Services (“RCS”), messaging, radio access and packet core solutions Ranzure, founded by former Mavenir Systems CEO Pardeep Kohli, is an early-stage venture focused on developing 5G Cloud Radio Access Network (“RAN”) technology The Xura Board of Directors has appointed Pardeep Kohli, formerly CEO of Mitel Mobile’s predecessor (Mavenir Systems) and Co-Founder and CEO of Ranzure Networks, to succeed Philippe Tartavull as CEO of Xura, effective today. Upon completion of the transactions, Mr. Kohli will serve as the CEO of the combined company. Mitel
Clearlake Capital to Acquire LANDESK
SANTA MONICA, CA AND SALT LAKE CITY, UT — January 3, 2017 — Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) today announced that it has signed a definitive agreement to acquire LANDESK from Thoma Bravo. Financial terms of the transaction were not disclosed. As part of the transaction, Clearlake will contribute its portfolio company HEAT Software (“HEAT”) to the new platform investment in LANDESK. LANDESK’s leadership in providing software to simplify IT complexity is further strengthened by HEAT’s Cloud-based Service Management (CSM) and Unified Endpoint Management (UEM) software solutions. HEAT delivers flexible, scalable, and secure CSM, UEM, and endpoint security solutions, along with a robust, global, and rapidly growing SaaS platform that is complementary to LANDESK’s product portfolio. The combination will provide additional geographic reach and vertical depth, and will enable the company to better serve IT organizations with solutions to manage and secure end user environments. The
The Wicks Group Acquires Invo Healthcare Associates
New York, January 9, 2017 – Invo Healthcare Associates, LLC (“Invo”), announced that The Wicks Group of Companies (“Wicks”), a private investment firm, has completed a majority recapitalization of the company along with management and Invo’s existing shareholders at Post Capital Partners (“Post Capital”). The terms of the transaction, which closed on December 23, 2016, were not disclosed. Based in Jamison, PA, Invo is a leading national provider of school and community behavioral health and other therapeutic services to individuals with special needs, including Autism Spectrum Disorder (“ASD”). The company serves more than 60,000 children annually in the areas of occupational therapy, physical therapy, speech and language pathology, and Applied Behavioral Analysis (“ABA”), in schools and other community-based settings across the United States. Commenting on the transaction, Invo CEO Anthony Manley said, “I am thrilled to continue in the service of Invo’s mission with our new partners at Wicks and
Neuberger Berman Raises $2.5 Billion for Fourth Global Private Equity Secondary Fund
New York, January 5, 2017 — Neuberger Berman, a private, independent, employee-owned investment manager, is pleased to announce the final close of NB Secondary Opportunities Fund IV LP (“SOF IV”), Neuberger Berman’s fourth global private equity secondary fund. SOF IV closed at $2.5 billion, surpassing its target of $2.0 billion. SOF IV, which launched in April 2016, is the successor to NB Secondary Opportunities Fund III LP, which had commitments of $2.0 billion. SOF IV seeks to achieve attractive risk-adjusted returns through the purchase of seasoned private equity investments from investors seeking liquidity. SOF IV has a global mandate and will pursue secondary opportunities in private equity funds, direct investments, co-investments and structured private equity opportunities. SOF IV’s investment team is led by Brian Talbot, Tristram Perkins, Ethan Falkove and Benjamin Perl. The team has significant secondary experience and a proven track record dating back to 1991. The investment team