Thoma Bravo completes Sparta Systems acquisition

Thoma Bravo said Monday that it has closed its buy of Sparta Systems. No financial terms were disclosed. Summit Partners and Altaris Capital Partners were the sellers. Lazard was the financial adviser on the transaction. Headquartered in Hamilton, NJ, Sparta Systems is a provider of enterprise quality management solutions.


Nevada PERS bets more on venture: VCJ

The Public Employees’ Retirement System of Nevada has stepped up its venture capital investing over the past couple of years with commitments to Battery Ventures, Canaan Partners and Technology Crossover Ventures.


Ares Management agrees to buy National Veterinary Associates

Ares Management has agreed to acquire the parent company of National Veterinary Associates, a private owner of independent freestanding veterinary hospitals in the U.S. Ares will acquire the business from Summit Partners. NVA’s senior management will retain a minority stake in the company. Terms of the deal were not disclosed. It is expected to close in the third quarter.


Summit Partners raises $1 bln for second credit fund

Summit Partners has closed $1 billion for its second credit fund. The target was $750 million. The fund’s LPs include public and private pension plans, insurance companies, funds of funds, family offices, endowments and foundations.


Thoma Bravo agrees to buy Sparta Systems

Thoma Bravo has agreed to acquire Sparta Systems from Summit Partners and Altaris Capital Partners. No financial terms were disclosed for the transaction, which is expected to be completed in the third quarter of this year. Lazard was financial advisor to Sparta Systems. Headquartered in Hamilton, NJ, Sparta Systems is a provider of enterprise quality management solutions.

Summit Partners-owned MDVIP names board exec chair

MDVIP, which is owned by Summit Partners, has appointed Bret Jorgensen as executive chairman of the board. Previously, Jorgensen served as chairman to Diversinet. Based in Boca Raton, Florida, MDVIP is a personalized healthcare network.


Adams Street leads $25.5 mln Series C funding in Visier

Adams Street Partners has led a $25.5 million Series C funding round in Visier, a platform that provides workforce analytics and planning solutions in the cloud. Existing investors Foundation Capital and Summit Partners participated in the funding round. The majority of the capital, $24 million, was sourced from investors, while $1.5 million came from friends and family. Visier also recently announced the appointment of Adam Binnie, previously senior vice president, emerging products at SAP, as head of new markets and innovation.


Francisco Partners exits Masternaut

Summit Partners and FleetCor have acquired Masternaut from Francisco Partners. No financial terms were disclosed. Masternaut’s CEO Martin Hiscox will remain in his position. Arma Partners was financial advisor to Masternaut on the transaction. Based in the UK, Masternaut is a provider of telematics solutions to commercial fleets.


Battery Ventures leads Series B round for RiskIQ

RiskIQ has closed $25 million in Series B financing. Battery Ventures led the round with participation from previous backer Summit Partners. In conjunction with the funding, the firm has added Michael Brown of Battery Ventures to its board of directors. Headquartered in San Francisco, Calif., RiskiIQ is a provider of internet security solutions.


Adams Street leads $40 mln funding of TeleSign

TeleSign, which provides authentication services of mobile phones, has raised $40 million in a Series B round led by Adams Street Partners. Also participating in the round are March Capital Partners and existing investor Summit Partners. Los Angeles-based TeleSign raised $29 million from Summit in May 2012, according to Thomson Reuters (publisher of peHUB).

Summit Partners leads funding round for Wellcentive

Wellcentive said Tuesday that it has received an undisclosed amount of funding. Summit Partners was the lead investor with participation from Wellcentive’s previous backers Noro-Moseley Partners and Harbert Management Partners. Wellcentive is a provider of population health management solutions.


Aaron’s acquires Summit Partners-backed Progressive: CORRECTED

Aaron’s said Tuesday that it has acquired Progressive for about $700 million in cash. The seller was Summit Partners. Headquartered in Atlanta, Aaron’s is a lease-to-own specialty retailer of residential furniture, consumer electronics, home appliances and accessories.

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