Hellman & Friedman Capital Partners portfolio company OpenLink is acquiring Technology Crossover Ventures‘ portfolio company SolArc, provider of commodity management software solutions. ArchPoint Partners served as SolArc’s investment banker, and Wilson Sonsini Goodrich & Rosati served as SolArc’s outside legal counsel in this transaction. Financial terms of the transaction were undisclosed.
ArchPoint Partners (“ArchPoint”) closed a substantial transaction on November 30th, advising Technology Crossover Ventures’ portfolio company SolArc, Inc. (“SolArc”) on its sale to OpenLink Financial, LLC (“OpenLink”). SolArc is a leading provider of commodity management software solutions, and OpenLink is a leading Commodity/Energy Trading & Risk Management (C/ETRM) software company, and a portfolio company of Hellman & Friedman Capital Partners VII, L.P.
SolArc provides software solutions for companies operating across the commodity supply chain with particular strength in logistics associated with physical bulk commodities such as NGL’s, coal, oil and agricultural products. SolArc software provides commodity market participants with a means of optimizing the physical and financial positions of multiple commodities, allowing a complete understanding of their positions and risks. SolArc retained ArchPoint to advise them on constructing and closing this highly complex transaction.
“ArchPoint was critical in the creation, negotiation, structuring and management of the transaction. The ArchPoint team brought a significant understanding of our business and leveraged their transaction expertise to enable us to effectively evaluate all of our strategic options and optimize value for all stakeholders,” said Brad Anderson, SolArc Founder and CEO.
Following Hellman & Friedman’s September 2011 announcement of its intent to acquire OpenLink from The Carlyle Group, ArchPoint successfully advised SolArc in completing the transaction with OpenLink under an accelerated timeline. With ArchPoint’s guidance, SolArc effectively executed a transaction that permitted Hellman & Friedman to meet all regulatory and financing considerations to close both the OpenLink and SolArc deals.
“Our focus at ArchPoint is to provide perfect execution by intelligently leveraging our transaction expertise, domain insight and deep strategic and private equity relationships,” said Rob Louv, a Founding Partner of ArchPoint. “This transaction represents a well-earned and outstanding outcome for SolArc and we are honored to have had a leading role in its implementation.”
ArchPoint Partners served as SolArc’s investment banker, and Wilson Sonsini Goodrich & Rosati served as SolArc’s outside legal counsel in this transaction.
About SolArc Founded in 1991, SolArc is a leading global provider of commodity management software and solutions for companies operating across the commodity supply chain, with particular strength in logistics associated with physical bulk commodities such as NGL’s, coal, oil and agricultural products. SolArc’s integrated software solution offers customers greater insight and control over their complex commodity supply and trading environments, delivering increased operational effectiveness and profitability at lower risk.
SolArc’s product offering is anchored by its RightAngle solution, which provides trading, risk management, pricing, scheduling, movement actualization, invoicing, interfacing to financial/ERP systems and settlement functions. In addition, SolArc offers a number of optional products for highly specified applications, including credit management, risk management, and automation of high-volume logistics, such as gasoline rack marketing or into-wing fuel deliveries.
SolArc is headquartered in Houston, Texas and has offices in Tulsa, Dallas, New York, London and Singapore. SolArc is a trusted solution provider for international clientele with more than 7,500 active users across a range of vertical industries, including energy and utilities, aviation and transportation, banking and finance, agriculture and consumer goods.