Vista Equity puts Social Solutions on the block, SEC’s ex-PE examinations co-chief launches consultancy

Vista Equity puts Social Solutions on the block and Chicago Pacific Founders is selling SAGE Veterinary Centers.

Happy Thursday!

Cloud: Vista Equity is selling Social Solutions, a cloud software provider for non-profits, writes Milana Vinn on PE Hub today. The firm is working with Harris Williams on the process, which is in its early stage, she writes.

Social Solutions generates around $100 million in revenue and $40 million in EBITDA, two sources said, though a third source pegged the company’s size closer to $75 million and $30 million in revenue and EBITDA, respectively, Milana writes.

Vista acquired the company in July 2014 and has grown the company through several strategic acquisitions. Read it here on PE Hub.

Veterinary: Chicago Pacific Founders is selling SAGE Veterinary Centers at a valuation of at least $1.25 billion, writes Sarah Pringle. The buyer is National Veterinary Associates, which competed against other PE-backed companies and pure-play sponsors.

As part of the deal, SAGE’s management, its founding veterinarians and Chicago Pacific Founders, which invested in 2018, will roll over a portion of their investment proceeds into stock in NVA, Sarah writes. Read it here.

Regulation: Igor Rozenblit has been in the center of private equity regulation for years as the co-head of the SEC’s private funds unit, which he helped form in 2014. Rozenblit left the agency last week and has formed his own consultancy, Iron Road Partners, to work with alternatives firms on various compliance issues, like preparing for examinations and investigations, working through challenging situations, as well as designing compliance programs.

The new firm will include an LP advisory council (the members of which he hasn’t yet revealed). LPs have deep insider knowledge of where exactly a firm may be deficient in terms of adherence with a fund contract and disclosure of potential conflicts.

Rozenblit’s new firm is being formed as many professionals expect more intense SEC scrutiny under the leadership of Gary Gensler, who is not considered a friend of private equity. Read it here on Buyouts.

That’s it! Have a great rest of your day. As always, hit me up with tips n’ gossip, feedback, The Drama or whatever at cwitkowsky@buyoutsinsider.com.