Clearlake Capital, an investment firm, completed the acquisition of Quest Software, a global cybersecurity, data intelligence, and IT operations management software provider, from Francisco Partners, a private equity firm. Financial terms were not disclosed.
“We have long admired Quest as a leading identity-centric cybersecurity, data intelligence, and IT operations management software platform and the Company’s software solutions that help secure enterprise IT environments. We are excited to partner with Patrick and Carolyn McCarthy, Quest’s CFO, to utilize Clearlake’s framework to help the Company strengthen its strategic growth plans including best practices to accelerate cloud/SaaS adoption and support its buy-and-build strategy,” Behdad Eghbali, Clearlake Co-Founder and Managing Partner.
Quest Software was advised by Goldman Sachs, JP Morgan, Paul Hastings and Highwire PR. Clearlake was advised by Bank of America, Barclays, Evercore, Morgan Stanley, Silicon Valley Tech Investment Bank, William Blair & Co, Sidley Austin and Lambert & Co. Debt financing was provided by BMO Capital Markets, Bank of America, Barclays, Citigroup, Credit Suisse, Goldman Sachs and Morgan Stanley. Francisco Partners was advised by Sloane & Company.
CyrusOne, a data center REIT, announced its stockholders approved the previously announced $15bn merger pursuant to which KKR and Global Infrastructure Partners will acquire all outstanding shares of common stock of the company.
“Today’s vote and approval by CyrusOne stockholders is a reflection of the significant value and resources KKR and GIP will provide for CyrusOne and its customers as the company continues to scale globally. KKR and GIP will provide resources and expertise to accelerate CyrusOne’s ability to help our customers scale their mission-critical infrastructure, and we are excited for the road ahead," Lynn Wentworth, CyrusOne Chair of the Board of Directors.
CyrusOne is advised by DH Capital, Morgan Stanley, Cravath Swaine & Moore, Eversheds Sutherland, Venable and Joele Frank. GIP is advised by Barclays, Citigroup, Goldman Sachs, JP Morgan, KKR Capital Markets, Wells Fargo Securities, Dentons, Kirkland & Ellis and Paul Weiss Rifkind Wharton & Garrison. KKR is advised by McDermott Will & Emery and Sard Verbinnen & Co.
SilverBox Engaged Merger I, a SPAC, announced that it expects to close its previously announced $1.7bn business combination Black Rifle Coffee, a veteran-owned company serving premium coffee.
"We are incredibly excited to partner with Black Rifle Coffee and its management team to help the ompany accelerate growth, deepen its customer engagement and drive greater impact. Evan, Tom and the rest of the team are great partners, and we believe the company has a compelling opportunity to continue its growth trajectory," Joe Reece, SBEA Executive Chairman.
Black Rifle Coffee is advised by BDT & Co, William Blair & Co, Kirkland & Ellis, ICR and TrailRunner. SilverBox Engaged Merger I is advised by Citigroup, D.A. Davidson & Co, Deutsche Bank, Guggenheim Partners, Raymond James, Telsey Advisory Group, Truist Bank, Paul Hastings and MKA Communications.
Thomas H. Lee Partners, a private equity firm, completed the acquisition of the semiconductor solutions business of Brooks Automation, a provider of automation, vacuum and instrumentation equipment, for $3bn.
"Over the past 40 years, Brooks has built an impressive portfolio of automated solutions to address some of the most difficult engineering challenges facing the semiconductor capital equipment industry. We are excited to support the business in its next leg of growth in semiconductor and beyond," Michael Kaczmarek, THL Managing Director.
Thomas H. Lee Partners was advised by PricewaterhouseCoopers, Barclays, JP Morgan, Kirkland & Ellis and Edelman. Brooks Automation was advised by Evercore and Mintz Levin. Evercore was advised by Covington & Burling.
Crestwood Equity Partners, an oil and gas pipeline operator, completed the acquisition of Oasis Petroleum, an oil and gas exploration company, for $1.8bn.
"This transaction enhances our competitive position in the Williston and Delaware Basins, enables Crestwood to capture substantial operational, commercial, and capacity synergies as we integrate the Oasis Midstream assets into our existing operations, and substantially expands the long-term contract acreage and inventory dedications of our gathering and processing portfolio. Importantly, we are completing this transaction during a period when macro oil and gas fundamentals are exceptionally supportive of upstream development and there is increasing demand for midstream infrastructure and services," Robert G. Phillips, Crestwood Equity Partners Chairman, President and CEO.
Crestwood Equity Partners was advised by Intrepid Advisors, JP Morgan and Baker Botts. Oasis Petroleum was advised by Jefferies & Company, Morgan Stanley, Tudor Pickering Holt, Richards Layton and Finger, Vinson & Elkins and Joele Frank.
NeoPhotonics, a manufacturer of ultra-pure light lasers and optoelectronic products, stated that NeoPhotonics stockholders approved the merger agreement under which Lumentum, a holding company, will acquire NeoPhotonics. Stockholders also approved other proposals relating to the transaction.
Approximately 99.5% of NeoPhotonics stockholders who voted cast their votes in favor of the proposal to approve the merger agreement. This represented approximately 76.3% of NeoPhotonics’ outstanding common stock as of the record date for the Special Meeting of Stockholders.
NeoPhotonics is advised by Union Square Advisors, Cooley, LouVan Communications and Sapphire Investor Relations. Union Square Advisors is advised by Gibson Dunn & Crutcher. Lumentum is advised by Goldman Sachs, Wilson Sonsini Goodrich & Rosati and Joele Frank.
Kinderhook Industries, a private equity firm, completed a $500m investment in Physician Partners, a primary care physician group.
“Since founding Physician Partners, we have focused on disrupting the conventional healthcare industry by providing 5-Star outcomes for our members through provider-aligned value-based care. It has resulted in a track record of success serving not only our patients, but our payor-partners as well. Given their success investing in the healthcare industry, particularly with a focus on value-based, risk-bearing arrangements, we believe Kinderhook is the ideal partner to support and accelerate our growth as a leading value-based primary care provider," Sidd Pagidipati, Physician Partners Chairman and Founder.
Kinderhook Industries was advised by Bass Berry & Sims and Kirkland & Ellis. Debt financing was provided by Credit Suisse and Truist Bank. Physician Partners was advised by Guggenheim Partners, Fried Frank Harris Shriver & Jacobson and Polsinelli PC.
US Acute Care Solutions, a provider of physician-owned emergency medicine, hospitalist, observation, and critical care services, completed the acquisition of Alteon Health, a provider of outsourced healthcare practice management services. Financial terms were not disclosed.
“Our scaled physician-partnership is unique in our industry. It is a clear differentiator for us, and it has enabled us to deliver high quality patient care and develop strong, longstanding relationships with our hospital system clients. With Alteon on our team, we will further strengthen our existing partner relationships and expand with new key health systems," James Frary, USACS CEO.
USACS was advised by Barclays, Deutsche Bank, Epstein Becker Green and Sidley Austin. Alteon was advised by Greenhill & Co and Greenberg Traurig.
Stem, a provider of artificial intelligence-driven energy storage software and services, completed the acquisition of AlsoEnergy, a provider of solar asset management software, from Clairvest Group, an equity management firm, for $695m.
The transaction will combine Stem’s unique storage optimization capabilities with AlsoEnergy’s market-leading solar asset performance monitoring and control software to deliver a compelling one-stop-shop solution for renewable energy projects. In addition, Stem will offer its smart energy storage solutions to AlsoEnergy’s existing front-of-meter and commercial & industrial customers, who generally have limited storage attachment to their solar assets today. AlsoEnergy will gain earlier visibility into solar plus storage projects through Stem’s extensive customer and partner network.
Stem was advised by Nomura, Gibson Dunn & Crutcher and ICR. AlsoEnergy was advised by William Blair & Co and Goodmans.
Vroom, an online automotive retailer, completed the acquisition of United Auto Credit, a company which provides automotive finance, for $300m.
"Building out a captive finance business that allows us to service customers across the credit spectrum is an integral part of our commitment to providing an end-to-end ecommerce solution to our customers and creates significant potential for both enhancing aggregate gross profit and improving customer satisfaction," Paul Hennessy, Vroom CEO.
Vroom was advised by Wells Fargo Securities, Simpson Thacher & Bartlett and Moxie Communications Group. United Auto Credit was advised by Raymond James and Skadden Arps Slate Meagher & Flom.
Solera, a global provider of integrated vehicle lifecycle and fleet management software-as-a-service, data, and services, agreed to acquire Spireon, a developer of GPS tracking software, from Greenbriar Equity, a private equity firm. Financial terms were not disclosed.
"This acquisition is strategically aligned with our existing fleet and dealership growth strategies and will expand our customer base. It increases our total addressable market and adds significant opportunities for cross-selling and solution integration that benefit customers. Bringing together Spireon's IoT platform and Solera's data assets creates a powerful, intelligent network that we believe improves safety, efficiency, and productivity across the vehicle lifecycle. Every addition to our data assets allows us to enhance a continuous cycle of insights that solves the issues our customers face today while proactively addressing the challenges they will face tomorrow," Darko Dejanovic, Solera CEO.
Solera is advised by Barclays and Kirkland & Ellis. Spireon is advised by Goldman Sachs, William Blair & Co and Hughes Hubbard & Reed.
City of Hope, a National Cancer Institute-designated comprehensive cancer center, completed the acquisition of Cancer Treatment Centers of America, a national, for-profit network of five comprehensive cancer care and research centers. Financial terms were not disclosed.
“This is a defining moment in the fight against cancer and a powerful opportunity to reach more cancer patients with the leading treatments, care and advanced research they critically need. CTCA has a strong commitment to patient-centric cancer care, and combining its network and services with City of Hope’s scientific expertise, clinical trials and patient care strengths will significantly increase the number of people who can access the latest lifesaving treatments," Robert Stone, City of Hope President and CEO.
City of Hope was advised by JP Morgan and Jones Day. Cancer Treatment Centers of America was advised by Goldman Sachs, Katten Muchin Rosenman and McDermott Will & Emery.
The Vistria Group, a private equity firm, completed the acquisition of a majority stake in Education Solutions Services, a provider of staffing services dedicated to offering administrative relief to school districts and professional working opportunities to qualified educators, from Nautic Partners, a middle-market private equity firm. Nautic Partners will remain a minority shareholder. Financial terms were not disclosed.
"It has been our pleasure to work with the team at ESS over the last seven years. We are proud to be associated with a company that not only is a leader in its market, but also makes a positive impact on the lives of the students in our communities by helping to ensure that they have reliable, available substitute teachers to provide the best possible educational outcomes. We look forward to our continuing involvement with ESS over the coming years," Bernard Buonanno, Nautic Managing Director.
ESS was advised by Robert W Baird and Locke Lord. The Vistria Group was advised by Winston & Strawn.
Vista Equity, a private equity firm, completed the acquisition of Adirondack Solutions, a college student housing software provider. Adirondack Solutions joined StarRez. Financial terms were not disclosed.
"StarRez and Adirondack Solutions have long shared similar values and approaches to an outstanding customer experience, and we are excited to work closely with the Adirondack team and community to ensure access to the best products and services. Vista has a lot of experience and resources to support the global growth plans for Adirondack along with StarRez," Travis Knipe, StarRez CEO.
StarRez and Vista was advised by Vinson & Elkins. Adirondack was advised by Nayalle Advisors and Norris McLaughlin.
SeaWorld, an American theme park chain, offered to acquire Cedar Fair, an operator of amusement park resorts located in various states across the USA and Canada, for $3.4bn.
CedarFair Board of Directors will carefully review and consider the proposal to determine the course of action that it believes is in the best interest of the company and its unitholders. The potential deal comes at a time when the leisure and entertainment sector slowly recovers from Covid-19 lockdowns that had hammered the industry for more than a year.
Cedar Fair is advised by Perella Weinberg Partners and Weil Gotshal and Manges.
Beiersdorf, a firm that develops and markets skin care products and self-adhesive product solutions, completed the acquisition of the prestige skin care business from Chantecaille, a provider of skin care and cosmetics products, for $690m.
“Today’s closing of the Chantecaille transaction marks another important milestone in the implementation of our C.A.R.E.+ strategy. Chantecaille complements our portfolio in prestige beauty with innovative skin care, cosmetics and fragrance products that are based on botanical ingredients. In addition, the new brand will further accelerate our growth in the North American and Asian markets. I’m convinced that together with its dedicated team we will develop Chantecaille to the next level and continue to grow the brand as a leader in natural beauty," Patrick Rasquinet, Beiersdorf Member of the Executive Board for Pharmacy and Selective Brands.
Beiersdorf was advised by McCarthy Tetrault. Chantecaille was advised by Jefferies & Company.
SoftBank Latin American Fund, a technology investment fund, led a $200m Series D funding round in Loadsmart, a company that leverages technology and logistics data to build efficiency around how freight is priced, booked and shipped, with participation from BlackRock, CSX and Janus Henderson.
"As a pioneer in digital freight technology, Loadsmart has built a best in class, scalable platform that offers multimodal digital services to customers across the supply chain. We are thrilled to lead this round of investment and work with Felipe, Ricardo and their talented team as they continue to digitize the supply chain to move the logistics industry into the future," Carlos Medeiros, SoftBank Latin America Fund Investment Partner.
Loadsmart was advised by Goldman Sachs and Paul Hastings.
Prodege, a cutting-edge marketing and consumer insights platform, completed the acquisition of Pollfish, a hybrid-service survey platform, from PJ Tech Catalyst, a private equity firm. Financial terms were not disclosed.
"As Prodege continues to carve a path of innovation, this acquisition is an exciting development for our clients and partners. We are very impressed by Pollfish's modern approach to surveying consumers and strong commitment to data quality and are thrilled to welcome them into the Prodege family. Our partners will also benefit greatly from organic access to a new audience of consumers while continuing to receive the phenomenal service they are accustomed to," Chuck Davis, Prodege CEO and Chairman.
Pollfish was advised by DLA Piper. Prodege was advised by Cooley.
Théa, an independent European pharmaceutical group, agreed to acquire the branded ophthalmic products from Akorn, a pharmaceutical company. Financial terms were not disclosed.
"I am pleased that we have reached this agreement with Théa. I believe they are well positioned and motivated to augment this ophthalmic franchise. Having access to our experienced and talented Sales team that will transition from Akorn to Théa is an important first step in their journey to build a strong sales platform in the US. This transaction will allow Akorn to focus on our core business of manufacturing and providing the marketplace with quality generic human and animal products. In addition, we intend to continue to invest in our facilities and pipeline," Doug Boothe, Akorn President and CEO.
Akorn is advised by Greenhill & Co and Willkie Farr & Gallagher.
Webster Equity Partners, a private equity firm, completed the investment in Oceans Healthcare, a provider of behavioral health services. Financial terms were not disclosed.
"We're proud of the footprint we've established so far, but we are nowhere near finished. The mental health impact of the pandemic has pushed already high demand for behavioral health services to crisis levels. This transaction allows us to expand our services and be a solution for underserved communities with decreasing or inadequate access to care. We're fortunate to have the opportunity to leverage Webster's expertise in our industry and value their support in achieving this goal," Stuart Archer, Oceans Healthcare CEO.
Oceans Healthcare was advised by Houlihan Lokey and Baker Donelson Bearman Caldwell & Berkowitz.
Daher, a manufacturer and developer of aircraft and industrial equipment systems, agreed to acquire the Stuart aerostructures business from Triumph Group, a firm that designs, engineers, manufactures, repairs and overhauls a broad portfolio of aerospace and defense systems. Financial terms were not disclosed.
“This acquisition is perfectly aligned with Daher’s ‘Succeed Together’ strategic plan, including the goal of significantly developing our North American activities across all of the company’s divisions. We strengthened our aircraft manufacturing business by acquiring Kodiak in 2019, and also have achieved significant organic growth in our services activities. With this acquisition, we strive to strengthen our industrial business. This significant transaction enables us to position ourselves globally as a key aerospace player," Didier Kayat, Daher CEO.
Daher is advised by JP Morgan and InfoWEST.
Carlyle, a private equity firm, agreed to acquire net lease business of iStar, a company focused on reinventing the ground lease sector, unlocking value for real estate owners throughout the country by providing modern, more efficient ground leases on institutional quality properties, for $3bn.
"Acquiring iStar’s net lease business jump starts our real estate credit strategy, quickly giving us scale to accelerate deployment. We expect to grow this net lease strategy into a $10 billion business with a focus on making the product available to the retail channel over time. We set out to grow the Global Credit platform in part by expanding into adjacent, scalable areas and this is another example of how we are delivering," Mark Jenkins, Carlyle Head of Global Credit.
iStar is advised by Eastdil Secured.
SoftBank Vision Fund, a firm specialising in growth capital and social impact investments, completed a $1.35bn investment in Cruise, an American self-driving car company.
“We’re opening a sign-up page on our site today so you can get a driverless ride soon—and free, for now. We’re starting with a small number of users and will ramp up as we make more cars available. This major milestone brings Cruise even closer to offering its first paid rides and generating $50bn in annual revenue by the end of the decade," Kyle Vogt, Cruise Interim CEO and Co-Founder.
Tiger Global, a private equity firm, and Sozo Ventures, a cross-border venture fund, led a $142m Series B funding round in RenoRun, an operator of a construction material delivery firm.
"We began this company with the simple mission of making the lives of contractors easier and more efficient. Contractors are entrepreneurs who are juggling an enormous amount of tasks on a weekly basis. Our goal is to give them more time and to help them scale amazing long-lasting businesses by building the world's most contractor-centric brand. I am incredibly proud of our team that has helped us expand across six markets in Canada and the US. With our new funding led by Tiger Global and Sozo Ventures, we are able to grow to the next level to be top of mind for each and every contractor across North America," Eamonn O'Rourke, RenoRun Founder and CEO.
Columbia Capital, a sector-focused investment firm, completed a $75m investment in Bluewave, a technology advisory and lifecycle management company.
“We are proud to partner with Columbia Capital who understands the opportunity and growth potential for Bluewave. To date, we have completed several acquisitions to expand and bolster our service offering to our clients. With this investment, we’re continuing to move our business forward to provide a comprehensive set of solutions to meet clients’ needs. By adding the right people, technologies, and expertise, we’re creating a collective genius that provides our clients with peace of mind that they are in the best hands with Bluewave," Seth Penland, Bluewave CEO.
Fortune Brands, a provider of home and security products, completed the acquisition of Solar Innovations, a producer of wide-opening exterior door systems and outdoor enclosures, for $63m.
“The acquisition of Solar Innovations is aligned with our long-term strategic focus on the fast-growing outdoor living space. With Solar Innovations’ technical expertise and R&D strength, we can accelerate our innovation and premium door offerings to help drive above-market share gains. With the backing of Fortune Brands and our Fortune Brands Advantage capabilities, we can add value for all of our stakeholders," Nicholas Fink, Fortune Brands CEO.
Arctic Wolf, a provider of security operations, completed the acquisition of Tetra Defense, a developer of a cyber risk management platform. Financial terms were not disclosed.
“Being a part of Arctic Wolf’s global footprint offers tremendous opportunities to advance our mission and protect organizations from the devastating impact of cyber threats. Arctic Wolf has built an impressive track record of explosive growth and a dominant reputation for its industry-leading security operations capabilities, and we are thrilled to join the wolf pack to better serve customers together in this fast-evolving threat landscape," Scott Holewinski, Tetra Defense CEO.
