Thoma Bravo acquired software developer Aucerna.
Thoma Bravo acquired Aucerna, which develops software solutions for upstream oil and gas companies. Financial terms were not disclosed.
"Aucerna is playing a key role in accelerating the digital transformation taking place in the oil and gas industry," said Scott Crabill, a Managing Partner at Thoma Bravo. "The company is a strategic partner for many of the world's most respected oil and gas companies, and global adoption of their mission-critical technology is growing rapidly. We look forward to working with Wayne and the Aucerna management team to support the company's continued growth, both organically and through strategic acquisitions."
Goldman Sachs, Perkins Coie and Pagemill Partners advised Aucerna. Kirkland & Ellis advised Thoma Bravo. Golub Capital, Owl Rock Capital and Fortress Investment Group provided debt financing.
Platinum Equity acquired Pro-Mark, the parent company of Hydro-Rain and Orbit Irrigation. Headquartered in Salt Lake City, Orbit is a leading provider of irrigation systems and related products for the residential home improvement markets. Hydro-Rain serves the professional market with a line of contractor-grade irrigation and lighting products. Financial terms were not disclosed.
“Orbit has created a successful business through a combination of product innovation, quality and entrepreneurial spirit,” said Platinum Equity Partner Jacob Kotzubei. “With the addition of our financial, operational and M&A resources to support the company’s growth, Orbit is poised to take yet another significant step forward. There are opportunities to deploy operational best practices throughout the organization and leverage the company’s brand to drive additional growth in both core and adjacent markets.”
Bennett Tueller Johnson & Deere and Lincoln International advised Pro-Mark. Wilkie Farr & Gallagher and PNC Bank advised Platinum Equity. PNC also provided debt financing.
Boyne Capital acquired Adapt Laser Systems. Headquartered in Kansas City, Missouri, Adapt Laser Systems has supported North America since 2003, providing pioneering laser cleaning solutions to many bonding, corrosion, and surface treatment issues facing complex industrial processes. Financial terms were not disclosed.
Georg Heidelmann, Adapt Laser's Founder and CEO, said: "I'm excited to be partnering with the Boyne team for this next phase of the company's growth. With their support, we are well positioned to continue converting North American industry from antiquated, environmentally hazardous treatment methods such as abrasion and chemicals to high-tech, clean laser solutions."
L Catterton invested in Mexican restaurant operator Grupo MYT.
L Catterton invested in Grupo MYT, one of the largest portfolios of fully owned restaurant brands in Mexico. L Catterton's investment will be used to support and accelerate Grupo MYT's expansion and growth throughout Mexico. Terms of the transaction were not disclosed.
"Grupo MYT offers unique casual dining experiences with broad consumer appeal," said Julio Babecki, Managing Partner, L Catterton Latin America. "With a proven track record of creating, developing and successfully operating experiential restaurant concepts, Grupo MYT is poised for continued success in Mexico's growing casual dining category. We are delighted to partner with Carlos, Andrés, Alfredo and Grupo MYT's growing team to accelerate their expansion and bring new and innovative restaurant concepts to life."
Lime raised $310m in Series D round.
San Mateo, California-based Lime, the fast-growing provider of electric scooters and bikes for short-term rentals, raised $310m in Series D financing at a $2.4bn valuation. A group of returning backers and new investors, Andreessen Horowitz, Bain Capital Ventures, Fidelity Investments, GV and IVP, led the round. Existing investors Alphabet, Coatue Management, Fifth Wall Ventures, DCM Ventures, GGV Capital, Singapore’s GIC and others also joined the round with several new investors, including GSV Capital, FJ Labs, Bling Capital, Europe’s GR Capital and St. Augustine Partners.
The company said it will use the funding for expansion in new markets, technology enhancements and investments in rider safety and city collaboration.
Hull Street Energy acquired two gas power plants from NextEra Energy.
Hull Street Energy agreed to buy ownership interests in the Bayswater and Jamaica Bay natural gas-fired electric generating stations from NextEra Energy Resources. The two facilities are located in Far Rockaway, New York and provide approximately 110 megawatts of start power generation capacity to the region. Financial terms weren’t announced.
Troutman Sanders and Hogan Lovells advised Hull Street Energy.
Abry recapitalized physicians’ social platform Sermo.
Abry Partners recapitalized Sermo, a social platform for physicians and healthcare professional survey company. No financial terms were disclosed. The investment will allow the company to significantly accelerate its growth strategy, including the upcoming launch of a new member experience that will drive impactful peer-to-peer collaboration & discussion amongst member physicians as well as enhanced automation and tooling for the healthcare market research industry.
“We’re excited to partner with Sermo as they continue to empower the healthcare industry with the tools needed to digitally collaborate with peers and improve patient outcomes,” said John Hunt, Managing Partner at Abry. “Sermo’s strong revenue growth and increase in users speaks to how they’re setting a new and improved standard for real-time medical collaboration and insights, and we look forward to supporting their continued innovation.”
Marlin & Associates advised Sermo. Ernst & Young and Chestnut Hill Partners advised Abry.
Consonance Capital Partners recapitalized Illinois-based Orsini.
Elk Grove Village, Illinois-based Orsini Pharmaceutical Services is a national specialty pharmacy focused on patients with rare and complicated diseases. No financial terms were disclosed.
“Consonance has long viewed specialty pharmacy as a sector uniquely positioned to improve outcomes through increased adherence and high-touch care coordination,” noted Stephen McKenna, Managing Partner & Co-Founder of Consonance Capital Partners. “Orsini is an exemplary model of how an innovative patient-centric approach and consistent culture of care can improve quality and lead to a strong value proposition for patients, manufacturers, and payors. We are excited to partner with Mike Fieri and the team to further expand their proven model of patient care targeting those who need it most.”
Latham & Watkins and Bass Berry & Sims advised Consonance Capital. Barone Law Group, Levenfeld Pearlstein, and Brown & Fortunato advised Orsini Pharmaceutical Services.
BV Investment Partners recapitalized St. Louis-based Intelliteach.
St. Louis-based Intelliteach is a provider of tech-enabled, business process outsourcing solutions for law and accounting firms. No financial terms were disclosed.
Seelin Naidoo, Chief Executive Officer of Intelliteach, said: “For over 20 years Intelliteach has served as a trusted, long-term partner for its clients, helping law and accounting firms solve their complex IT and financial services challenges. With BV’s assistance we intend to build upon Intelliteach’s strong foundation to continue to enhance our current service offerings while developing additional services that will deliver enhanced value to our customers and employees. The market for our outsourced technology and business processes is still vastly underpenetrated, so we are excited to begin our next chapter with BV.”
Thompson Street Capital Partners recapitalized BCM One.
BCM One, a leading managed technology solutions provider, announced that Thompson Street Capital Partners has partnered with management to recapitalize the company. Terms of the transaction were not disclosed.
“This strategic move will empower BCM One, a company we both proudly founded over 25 years ago, to aggressively reach the next phase of growth while enhancing the people, products, processes and systems that support our business,” stated Frank Ahearn and John Cunningham, founders of BCM One.
KPMG advised BCM One.
