197 Views

Sterling Partners acquires Hoffman Southwest Corp

Sterling Partners has acquired Hoffman Southwest Corp, which assesses and repair underground pipeline. Hoffman Southwest is the largest franchisee of Roto-Rooter in the U.S. The company’s existing management, including Mark Metcalfe and Monte Yoder, will continue to lead daily operations. The deal closed on July 13.

176 Views

Prospect Mortgage to buy CapWest Mortgage

Prospect Mortgage said Friday it is buying certain assets of CapWest Mortgage, a division of Farmers Bank & Trust. Financial terms weren’t announced. Kansas City-based CapWest is a call center operation focusing on Consumer Direct sources of business. Prospect Mortgage is backed by Sterling Partners.

PE-backed Q-Centrix hires CFO

Q-Centrix, a portfolio company of Sterling Partners, has named Max Broedlow as chief financial officer. Previously, he worked at Strata Decision Technology LLC.  Based in Portsmouth, New Hampshire and Chicago, Q-Centrix is a medical tech company.

502 Views

Sterling Partners unveils $200 mln education fund

Sterling Partners has teamed up with USA Funds to launch its $200 million Education Opportunity Fund. The fund will back growth-stage education companies. Sterling co-founder and Senior Managing Director Chris Hoehn-Saric and Managing Directors Shoshana Vernick and Jason Rosenberg will lead the fund.

128 Views

PE-owned Innotrac appoints new CEO

Innotrac, a portfolio company of Sterling Partners, has named Ramesh Srinivasan as CEO. Based near Atlanta, Innotrac Corp. is a provider of ecommece solutions and services to digital retailers.

194 Views

Sterling Partners sells GEM to Evergreen

Sterling Partners has sold its portfolio company GEM Mobile Treatment Services to Evergreen Industrial Services. No financial terms were disclosed. GEM provides various services for the petroleum, petrochemical, environmental and energy sectors.

150 Views

PE-owned Worldpay closes SecureNet acquisition

Worldpay, which is owned by Advent International and Bain Capital, has completed its buy of SecureNet Payment Systems. The seller was Sterling Partners. No financial terms were disclosed. Based in Austin, Texas, SecureNet is a payment solutions provider.

RMG Networks appoints ex-Sterling Partners operating partner as president/CEO

RMG Networks has named Robert Michelson as president and CEO. The appointment is effective immediately. Michelson, a former operating partner at Sterling Partners, has been interim president and CEO of RMG Networks since last July. Headquartered in Dallas, RMG helps companies communicate better using location-based video networks.

246 Views

Worldpay to acquire PE-owned SecureNet

Worldpay, which is backed by Advent International and Bain Capital, has agreed to buy SecureNet. No financial terms were disclosed. The deal is expected to be completed in December 2014. William Blair was financial advisor to SecureNet and its owner Sterling Partners on the transaction. Based in Austin, Texas, SecureNet is a payment solutions provider.

171 Views

RMG Networks hires ex Sterling Partners’ operating partner as interim president/CEO

RMG Networks has named Robert Michelson as interim president and CEO. The appointment is effective immediately. Michelson is replacing Garry K. McGuire Jr. Michelson is a former operating partner at Sterling Partners. RMG Networks has also promoted Loren Buck to chief operating officer from executive vice president of strategy and business operations. Headquartered in Dallas, RMG helps companies communicate better using location-based video networks.

134 Views

PE-backed School of Rock hires CEO

Music education franchise School of Rock, which is backed by Sterling Partners, has hired Dzana Homan as CEO. Previously, Homan worked at Goddard Systems where she served as chief operating officer.

208 Views

PE-backed Adeptus Health debuts IPO

Adeptus Health, a portfolio company of Sterling Partners, has launched its IPO after pricing its 4.9 million shares at $22 per share. The stock began trading Wednesday on the NYSE under the ticker symbol “ADPT.” Deutsche Bank Securities, Goldman Sachs, Evercore Group and Morgan Stanley are the lead underwriters. Adeptus Health owns and operates First Choice Emergency Room, a network of independent freestanding emergency rooms.

PE-backed SAVO Group adds to board of directors

SAVO Group has named Steve Collins to its board of directors. Collins is the former CFO at ExactTarget. Headquartered in Chicago, SAVO is a sales software developer. It is backed by Goldman Sachs, Sterling Partners and SAP Ventures.

PE-backed Prospect Mortgage appoints new CEO

Prospect Mortgage, which is backed by Sterling Partners, has named Michael J. Williams as its CEO. The appointment is effective immediately. Williams replaces Ronald L. Bergum who is transitioning from CEO to managing partner. In addition to his new role as CEO, Williams will remain the chairman of Prospect’s board. Prospect Mortgage is a home purchase lender.

141 Views

Goldman Sachs leads $35 mln round for SAVO

SAVO Group said Wednesday that it has secured $35 million in funding. Goldman Sachs led the round with participation from previous backers Sterling Partners and SAP Ventures. The capital will be used for expansion and to further develop SAVO’s sales and marketing applications. As a result of this transaction, Michael McGinn and Holger Staude of Goldman Sachs’ private capital investing group, have joined SAVO’s board. Headquartered in Chicago, SAVO is a sales software developer.

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