X
Menu
X

Page 2

Grain Management Acquires Telecommunications Provider
June 19, 2018 – Washington, DC – Grain Management, LLC (Grain), a leading private equity firm focused on investments in the communications sector, announced today that it has entered into a definitive agreement to acquire Great Plains Communications – the largest privately-owned telecommunications provider in Nebraska. “We are enthusiastic about the outstanding performance Great Plains Communications has delivered for its customers, and we are thrilled to partner with the current management team to continue pursuing their vision of being the region’s leading provider of high-quality, fiber-based telecommunications services,” said David Grain, Founder & CEO of Grain Management. Grain will acquire Great Plains Communications from its current owners, whose families have led the company’s growth since 1910, when it began as a local telephone company. Throughout its long history, Great Plains Communications has strategically transitioned itself into a leading regional provider of fiber-based services through significant investment in its state-of-the-art network and
Web.com to be Acquired by Siris Capital Affiliate in Deal Valued at Roughly $2 Billion
JACKSONVILLE, Fla, June 21, 2018 – Web.com Group, Inc. (NASDAQ: WEB), a leading global provider of a full range of Internet services and online marketing solutions for small and medium‐sized businesses, today announced that it has entered into a definitive agreement to be acquired by an affiliate of Siris Capital Group, LLC in an all-cash transaction valued at approximately $2 billion. Under the terms of the agreement, which has been unanimously approved by the members of Web.com’s board of directors, an affiliate of Siris will acquire all of the outstanding common stock of Web.com for $25.00 per share in cash. The purchase price represents a 30% premium over Web.com’s 90-day volume-weighted average price ended on June 19, 2018. A special meeting of Web.com’s shareholders will be held as soon as practicable following the filing of a definitive proxy statement with the U.S. Securities and Exchange Commission (“SEC”) and subsequent mailing
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
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