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Trive Capital is on the lookout for more carveouts after its $330 million cash acquisition of internet-service provider   EarthLink on Dec. 31. The Dallas PE shop acquired Atlanta-based EarthLink from Windstream Holdings, financing the deal with its cash assets. As part of the deal, Trive will also receive assets of nQue Technologies, as well as EarthLink’s midtown Atlanta […]
Recently, Carlyle Group Co-CEO Kewsong Lee said tech permeates every investment decision at the firm. “We have a saying at Carlyle: ‘Every deal is a tech deal,’” Lee told the PartnerConnect LP-GP Outlook conference in New York. Tech is also fast becoming one of the most popular PE-investment targets — and within the category, software will be a […]
TPG Capital met its five-year return goal two years early on the sale of Transporeon Group, a cloud-based logistics platform for industrial professionals, sources told Buyouts. This exit left the TPG investment team “extremely happy” as Transporeon grew both revenue and Ebitda more than 50 percent over the past three years, sources said. The PE firm […]
Clearlake Capital is eyeing more add-ons to its software and development-operations platform Perforce, which has recently grown to $150 million Ebitda, sources told Buyouts. Clearlake’s investment team will target companies in mobile testing, mobile development tools for software and security software, sources said. Last week, the PE shop acquired Rogue Wave Software, the Louisville, Colorado, […]
True Wind Capital, an emerging tech firm launched by two former KKR executives, made its first foray into public-company investing. This week, the firm said it took a minority stake in publicly traded Zix. Zix, almost simultaneously with True Wind’s investment, acquired AppRiver from Marlin Equity Partners for $274 million. The deal was unusual for True […]
Skyview Capital, a family office in Los Angeles, is working to complete this month a deal that would create a call-center platform employing about 16,000 people worldwide. Launched by a former Platinum Equity executive, Skyview is acquiring a portfolio of customer-care contracts from Conduent Inc. The portfolio generated about $500 million in revenue in 2017. […]
Luminate Capital, an emerging tech-focused shop that just raised its second fund, is focused on finding software opportunities in less tech-savvy markets. For example, the firm said Jan. 10 it made a growth investment in LiquidFrameworks, which makes software for the oil and gas industry. And in December, the firm invested in AutoQuotes, a software […]
A new cloud-services-software company backed by Pamlico Capital and Littlejohn & Co sees opportunities to grow via add-ons in a consolidating market, a source told Buyouts. Littlejohn-backed Hostway and Pamlico-backed Hosting said Jan. 8 they’d merge the companies, creating a multiproduct global software business. The new company – it’s mulling naming ideas from customers and […]
SFW Capital, after three years, has made back most of its money from its investment in Gerson Lehrman Group, sources said. Gerson Lehrman paid out a dividend to its shareholders, which include SFW, people said. The distribution is the first for GLG under SFW’s ownership. Terms were not disclosed. Owl Rock Capital Partners provided debt […]
software, programming
There are nearly 80 private equity-backed software companies: Moody’s Vista Equity is the most active acquirer of software companies In 2018, 75 pct of new software issuers were rated B3 Private equity can’t get enough of software. PE firms now own nearly 80 software companies, up from few or none in the early 2000s, Moody’s […]
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