VC Venture Lessons Best Practices
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Vector Capital puts Saba Software on the block

Vector Capital is looking for a buyer for Saba Software, a talent management software company, which the firm took private four years ago, three people familiar with the process told Buyouts. The process is in the early stages and the firm has yet to select a banker, the people said. Vector is planning to appoint […]

Providence Equity, cloud, 5G, EdgeConneX, data center, private equity, merger, M&A
509 Views

Providence seeks $3 bln for EdgeConneX

Providence Equity’s sale of infrastructure services provider EdgeConneX is in second round, two sources familiar with the process told Buyouts. Bids were due a few weeks ago, one source said. Evercore is advising the company on its sale, the people said. The process, which kicked off nearly five months ago, has taken time because of […]

508 Views

KKR impact fund’s Burning Glass deal highlights workforce development theme

As highlighted by its acquisition of Burning Glass Technologies, KKR’s global impact team sees opportunities in companies tackling workforce development and educational innovation, Robert Antablin, co-head of KKR Global Impact, told Buyouts. KKR’s impact-focused arm is focused on businesses that help individuals better prepare for the workforce at a time when employees increasingly require different skills […]

Vista Equity Partners, Robert Smith, private equity
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Vista stands to double its money on Ping Identity’s IPO

Vista Equity Partners is taking Ping Identity public in a deal that could see the buyout firm doubling its money. Ping, an online ID management company, is seeking to raise $187.5 million with its IPO, according to a Sept. 9 regulatory filing. The company is selling 12.5 million shares at $14 to $16 each. Underwriters […]

Hollie Haynes, Luminate Capital Partners, women in private equity, trailblazers
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Luminate Capital invests in Thought Industries

Luminate Capital invested in Thought Industries, an application software company that allows its customers to train and deliver learning experiences through its tech platform. The deal marks Luminate’s third investment out of its Luminate Capital Partners Fund II, which closed on $425 million in December 2018. The Boston-based Thought Industries is a software company that […]

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Pamlico shops data-center maintenance provider Service Express

Pamlico Capital has put Service Express on the block after a four-year hold, two sources familiar with the deal told Buyouts. The process kicked off after Labor Day, the sources said. First round bids are due at the end of September, they said. William Blair is advising the company on the sale. Service Express, based […]

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GI, TA weigh options for MRI Software

GI Partners and TA Associates are exploring options for MRI Software, four sources told Buyouts. GI and TA, which each own half of MRI Software, are considering alternatives for the company, including a complete exit, the people said. MRI Software could sell for $2.5 billion to $3.5 billion, the sources said. The company has not engaged in formal discussions with […]

Epicor, Apax Partners, private equity, exit
1008 Views

KKR hires Barclays to sell Epicor

KKR & Co has hired Barclays to oversee the sale of Epicor Software, four sources familiar with the process told Buyouts. KKR started the conversation with potential buyers a month ago, the people said. Multiple parties, including one PE firm, are involved in the auction, sources said. The process represents a three-year hold for KKR, […]

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TPG receives bids for Wind River

TPG has received bids for Wind River Systems, an internet-of-things software provider, people familiar with the process told Buyouts. The firm, which started an informal auction process for Wind River in response to inbound interest in the company, received second-round bids in early August, one source familiar said. Clearlake Capital, Francisco Partners, Marlin Equity Partners […]

OpenGate, private equity, Andrew Nikou, emerging managers, private equity, Jay Yook, Robert Lezec
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With InRule, OpenGate clinches fifth deal this year

OpenGate Capital Partners, which is out fundraising for its latest flagship, scored its fifth investment this year. OpenGate said Aug. 19 that it acquired InRule Technology Inc. Financial terms weren’t announced. Founded in 2002, InRule provides enterprise software that helps businesses to automate their decisions. The Chicago company has more than 400 customers, including American Express, […]

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NexPhase reaps over 5x multiple on InsideRE sale

NexPhase Capital is set to make more than 5x multiple on its investment in Inside Real Estate, a provider of cloud-based real estate software, sources familiar with the deal told Buyouts. NexPhase sold the company to Lovell Minnick Partners on Aug. 20, the people said. Post-sale, the firm is set to realize more than 5x gross multiple on invested […]

1597 Views

Ex-Gamut execs launch firm to invest in industrials

Chris Whalen and Adi Pekmezovic, former executives from Gamut Capital, recently launched Mill Rock Capital Management to invest in the industrial sector. The firm this month announced the formation of the firm and its recent investment in Venture Metals and SI Metallics, which simultaneously acquired Versatile Processing Group, of Dallas, Texas. Both companies are scrap-metal […]

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Tech spotlight: Sponsors cash in on tech overhaul of legacy industries

When thinking about the cutting edge of technology investing, perhaps automotive manufacturing isn’t the first sector that comes to mind. And yet automotive is one sector that is experiencing an overhaul of a perhaps different kind than it is used to. The sector has been the target of several software deals this year focused on […]

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Hg recruits from CVC, Temasek, Carlyle for first U.S. office

Hg has brought on professionals from CVC and Temasek to help open its first U.S. office, sources familiar with the firm told Buyouts. Gero Wittemann and Ben Meyer, both partners with Hg in New York, joined the firm in the fall of 2018 from CVC Capital Partners and Temasek, respectively. Around the same time, the firm also […]

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Genstar to buy OEConnection from Providence for more than $1 bln

Genstar Capital will acquire OEConnection for nearly $1.3 billion, sources familiar with the process told Buyouts. Providence Equity is exiting the investment after a three-year hold, while General Motors and Ford, both minority investors in the company, will retain their stakes, the people said. Each automaker owns 15 percent of OEConnection. The process, which kicked […]

PwC, Andrew Cristinzio, private equity, merger, M&A
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PE inventory at all-time-high as exits slow down: PwC

PE exit activity slowed in the first half of the year, pushing the inventory of PE portfolio companies to an all-time high, according to a recent report by PwC. In June there were more than 9,600 U.S. PE-backed portfolio companies, a 78 percent increase since 2009, the report said. Almost 40 percent of the current […]

Application, Software, Cloud, Communication, Global Communications, Computer Network, Design, Technology, Downloading
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Sumeru Equity puts MDSL for sale

Sumeru Equity Partners is looking for a buyer for expense-management tech company MDSL, three sources familiar with the process told Buyouts. The process has passed first-round bids, one source said. William Blair is advising MDSL on the sale, the people said. MDSL, of Phoenix, Arizona, provides technology expense management and market data management through a […]