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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
NAIC’s Open Letter to CalSTRS on Behalf of Diverse Investment Managers
WASHINGTON, June 7, 2018 – The National Association of Investment Companies (NAIC) today issued the following letter to Chief Investment Officer magazine in response to troubling material the media outlet reported on the California State Teachers’ Retirement System’s (CalSTRS) diversity and emerging manager programs. Because of its importance to the field, the NAIC is today making the letter public. Dear Reader, Reasonable people now find it incontrovertible that diversity improves outcomes. It is true for boards, it is true for leadership, and it is true for workforces. Nearly all leaders are past the point of debating whether to invest in diversity and focus their attention on how to do so. Yet, exceptions linger – particularly in asset management. An especially troubling example of this was reported in an April 3rd article in Chief Investment Officer reporting on CalSTRS’ negative experience with minority managers in the global equity portfolio. In its
NAIC Commends Investment Group for Recognizing Performance and Potential of Diverse-Owned Firms
WASHINGTON, June 4, 2018 – The National Association of Investment Companies (NAIC) congratulates Clearlake Capital Group and the investment group led by Dyal Capital Partners on the group’s recent acquisition of a minority stake in Clearlake Capital. This transaction exemplifies a clear recognition of the enormous success Clearlake Capital has achieved to date, and its potential for increased growth and outstanding investment returns. Clearlake Capital Group is a leading private investment firm founded in 2006 that has managed approximately $7 billion of institutional capital since inception. The transaction marks the second investment in an NAIC member firm by Dyal Capital Partners. In 2015, a Dyal-led group completed an investment in Austin-based Vista Equity Partners. “These transactions illustrate the increasing realization of the growth and potential for increased success of diverse managers,” says Robert L. Greene, President & CEO of the NAIC. “We anticipate similar transactions ahead as these firms continue
NAIC Roadshow to Connect Diverse-Owned Firms with DC Institutional Investors
WASHINGTON, MAY 21, 2018 – Some of the nation’s top-performing diverse investment managers will meet with institutional investors from the Washington, DC Metropolitan Area today 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 Institutional Investor Roadshow include the District of Columbia Retirement Board; Georgetown University Investment Office; Howard University; Montgomery County Public Schools; National Railroad Retirement Investment Trust; and the Smithsonian Institution. NAIC’s Institutional Investor Roadshows visit various US cities to meet with local institutional investors and government officials to discuss manager performance, investment strategies, emerging manager programs, and to dispel outmoded perceptions about compromising performance when utilizing diverse managers. Many diverse-owned investment firms have generated stellar returns despite being overlooked by many institutional investors – even those located in racially diverse cities. Several factors continue to severely limit
NAIC Congratulates Members Ranked Among the World’s Largest Private Equity Firms
WASHINGTON, MAY 18, 2018 – The National Association of Investment Companies (NAIC) congratulates its 10 member firms named to the PEI 300, Private Equity International’s list of the world’s biggest private equity firms. The list, which is based on how much capital raised over the last five years, represents a collective fundraising total of $1.5 trillion. NAIC member firms named to the PEI 300 include: Clearlake Capital Group, L.P. HarbourVest Partners, LLC JP Morgan Asset Management Neuberger Berman One Rock Capital Partners, LLC Palladium Equity Partners, LLC Siris Capital Group, LLC Sycamore Partners Vista Equity Partners Vistria Group, LP “The NAIC is proud to see such growth among our members and applauds them on their fundraising successes,” says Robert L. Greene, President & CEO, “Having so many firms ranked among the world’s largest underscores the talent and capabilities within private equity’s diverse communities.” About the NAIC: Based in Washington, DC,
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
Neuberger Berman Launches Specialty Finance Group
New York, NY, May 1, 2018 – Neuberger Berman, a private, independent, employee-owned investment manager, announced its entry into the broader specialty finance industry with the formation of Neuberger Berman Specialty Finance group (“NBSF”). The firm manages $299 billion in assets, of which $60 billion is alternative investments for institutions and individuals. NBSF seeks to identify assets within the consumer, small business, and bridge loan segments in order to build short duration, income producing credit portfolios for its clients. The group will partner with high-quality originators who have strong underwriting and servicing capabilities. Utilizing the latest financial technology, NBSF will strive to create diversified portfolios with robust risk protection. The group will leverage strong internal research and data to best position portfolios for the current economic climate. Peter Sterling has joined the firm to serve as the Head of Neuberger Berman Specialty Finance. NBSF efforts will be enhanced by collaboration
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