Nice completed the acquisition of Nortek Security & Control from Melrose Industries for $285m.
Nice, a global manufacturer of smart home, security, and home & building automation solutions, completed the acquisition of Nortek Security & Control, a provider of indoor environmental technology for homes and offices, from Melrose Industries, a company engaged in manufacturing and supplying electricity generating equipment, for $285m.
“This acquisition reinforces our strong commitment to North America and significantly expands our global footprint. Nice now employs over 3k people across five continents, encompassing the most diverse backgrounds and cultures with 16 R&D centers and manufacturing facilities servicing partners and customers in over 100 countries,” Lauro Buoro, Nice Chairman and Founder.
Nice was advised by PricewaterhouseCoopers, BNP Paribas, Bain & Co, Banco BPM, Cassa depositi e Prestiti, Credit Agricole, Natixis Partners, Rothschild & Co, UniCredit, Legance, Raines Feldman and Caster Communications. Financial advisors are advised by Gianni Origoni Grippo Cappelli & Partners.
Thoma Bravo completed the acquisition of Stamps for $6.6bn. (FS)
Thoma Bravo completed the acquisition of Stamps, a provider of e-commerce shipping software solutions, for $6.6bn.
“Today’s announcement marks a significant milestone in the history of Stamps.com and will provide us with a new and exciting platform from which we can continue to execute our global strategy driven by best-in-class software and technology solutions. With the financial and operational support of Thoma Bravo, Stamps.com can continue to innovate and pursue growth opportunities to capture the expanding e-commerce shipping market and extend our position as the leading global multi-carrier e-commerce shipping software company," Ken McBride, Stamps Chairman and CEO.
Thoma Bravo was advised by Ares Management, PSP Investments, Thoma Bravo Credit, Kirkland & Ellis and Finsbury Glover Hering. Debt financing was provided by Ares Management, Blackstone Capital Markets and PSP Investments. Stamps was advised by JP Morgan and Proskauer Rose.
TPG to acquire a majority stake in Nintex. (FS)
TPG Capital agreed to acquire a majority stake in Nintex, a global standard for process management and automation. Thoma Bravo plans to make a new equity investment in the company and maintain a significant minority interest. Financial terms were not disclosed.
"In today's landscape, digital process automation and management are critical to any company's ability to work effectively and efficiently. The automation of the enterprise is a core investment theme for our software team, and we believe Nintex is at the forefront of enabling this transformation. While the company serves thousands of organizations today, we believe they are only scratching the surface in terms of the breadth of departmental and industry process solutions needed. We look forward to working with the teams at Nintex and Thoma Bravo to accelerate the company's growth," Nehal Raj, TPG Co-Managing Partner.
TPG is advised by Morgan Stanley and Ropes & Gray. Debt financing is provided by Blackstone Capital Markets and Thoma Bravo Credit. Nintex is advised by Bank of America, Macquarie Capital and Wilson Sonsini Goodrich & Rosati. Thoma Bravo is advised by Kirkland & Ellis and Finsbury Glover Hering.
Apax and Oak to acquire Eating Recovery Center from CCMP Capital. (FS)
Apax, an asset manger, and Oak, a venture and growth equity investment firm, agreed to acquire Eating Recovery Center, a provider of eating disorder treatment for female and male children, from CCMP Capital, a private equity firm. Financial terms were not disclosed.
“We are thrilled to partner with Apax and Oak HC/FT on the next phase of our journey to expand access to mental health treatment in the US. In addition to growth capital, we believe our new partners bring the right digital DNA to accelerate the growth of our virtual care offering. CCMP has been instrumental in furthering our mission and fuelling our expansion through new facility development, capacity, and service line growth, and establishing our virtual care platform to support our patients and their families. We thank them for their partnership," Rebecca Steinfort, ERC CEO.
Apax is advised by PricewaterhouseCoopers and Simpson Thacher & Bartlett. Eating Recovery Center is advised by Alvarez & Marsal, Jefferies & Company, Moelis & Co and Ropes & Gray. Oak is advised by Finn Dixon & Herling.
Linden Capital completed the acquisition of a majority stake in BioIVT from Arsenal Capital. (FS)
Linden Capital, a healthcare private equity firm, completed the acquisition of a majority stake in BioIVT, a provider of mission-critical biological specimens and value-added services, from Arsenal Capital, a private equity firm. Financial terms were not disclosed.
"We are delighted to have worked with the talented management team and employees of BioIVT in executing an ambitious growth strategy to build a market-leading company. BioIVT is uniquely positioned to facilitate the safe and effective progress of research to bring therapeutics and diagnostics to all of us whose health and wellbeing are supported by advances in science and clinical care," Dave Spaight, Arsenal Operating Partner.
Linden Capital was advised by RBC Capital Markets. Debt financing was provided by Ares Management and Golub Capital. BioIVT was advised by Jefferies & Company, Perella Weinberg Partners and Kirkland & Ellis. Arsenal was advised by Prosek Partners.
Blackstone completed the investment in GTCR-backed Simpli.fi at a $1.5bn valuation. (FS)
Blackstone completed the investment in GTCR-backed Simpli.fi, a provider of workflow software and programmatic advertising solutions, at a $1.5bn valuation.
“Simpli.fi’s highly differentiated technology platform and superior customer service have made it a clear leader in its space. Digital advertising is a high-conviction investment theme at Blackstone and Simpli.fi sits at the intersection of multiple attractive tailwinds, including the continued shift in local media spend to programmatic digital and CTV. We are very excited to partner with the management team and GTCR to further accelerate the Company’s growth," Sachin Bavishi, Blackstone Managing Director.
Simpli.fi was advised by Evercore, LUMA Partners, Kirkland & Ellis and SHIFT Communications. Blackstone was advised by Simpson Thacher & Bartlett. GTCR was advised by The Harbinger Group.
Southwest Gas to acquire Questar Pipeline from Dominion Energy for $1.98bn.
Southwest Gas, an energy holding company, agreed to acquire Questar Pipeline, a FERC-regulated, long-term contracted, transportation and underground storage assets, from Dominion Energy, a firm that engages in the provision of electricity and natural gas, for $1.98bn.
"We are pleased with the result of our sale process for these high-quality assets. This transaction represents another significant step in our evolution as a company, allowing us to focus even more on fulfilling the energy needs of our utility customers and continuing growth of our clean-energy portfolio, including development of the largest offshore wind farm in North America," Robert M. Blue, Dominion Energy Chair, President & CEO.
Southwest Gas is advised by Lazard and Morrison & Foerster. Dominion Energy is advised by Barclays and McGuireWoods.
Boston Scientific to acquire Baylis Medical Company for $1.75bn.
Boston Scientific, a manufacturer of medical devices used in interventional medical specialties, agreed to acquire Baylis Medical Company, a medical device company, for $1.75bn.
"A leader in many of the fastest growing markets in our industry, we believe that Baylis Medical Company will add meaningful revenue, operating income, and new research and development capabilities across multiple Boston Scientific businesses, while complementing existing offerings within our electrophysiology and structural heart portfolios," Mike Mahoney, Boston Scientific Chairman and CEO.
Baylis is advised by Piper Sandler, BCF Business Law and Cooley.
Dream Finders Homes completed the acquisition of McGuyer Homebuilders for $471m.
Dream Finders Homes, a firm engaged in the home building business, completed the acquisition of McGuyer Homebuilders, a privately held Texas-based homebuilder, for $471m.
“We are very excited about the future. MHI has been consistently recognized as one of the nation’s top homebuilders and the company has earned an impeccable reputation over the past 30 years. We believe we can provide capital and efficiencies to help the current team grow well beyond its 2k homes produced annually. We also believe we structured the deal in a highly accretive way for DFH shareholders, allowing us to maintain our asset-light business model and generate industry-leading returns on shareholder capital," Patrick Zalupski, Dream Finders Homes Chairman and CEO.
Dream Finders Homes was advised by Holland & Knight. McGuyer was advised by Builder Advisor Group and Foley & Lardner.
Evolent Health completed the acquisition of Vital Decisions from WindRose Health Investors for $130m. (FS)
Evolent Health, a clinical and administrative solutions deliverer, completed the acquisition of Vital Decisions, a health care counseling services provider, from WindRose Health Investors, a private equity firm, for $130m.
"We believe Vital Decisions is a strong strategic fit for Evolent, as it adds patient engagement capabilities to New Century Health that should deliver strong clinical and financial outcomes, and presents two-way cross-sell opportunities. We believe this transaction also unlocks patient engagement and telehealth as levers for ensuring patients with complex illness receive high-quality, coordinated care," Seth Blackley, Evolent Health CEO.
Evolent Health was advised by Bass Berry & Sims. Vital Decisions was advised by McDermott Will & Emery. WindRose was advised by Lambert & Co.
Apollo-backed Takkion completed the acquisition of Airway Services from Northaven Capital Partners and Concentric Equity Partners. (FS)
Apollo-backed Takkion, a provider of logistics and transloading services catering to the renewable energy industry, completed the acquisition of Airway Services, a provider of technical staffing, project management and operations and maintenance, from investment managers, Northaven Capital Partners and Concentric Equity Partners. Financial terms were not disclosed.
"Airway joining Takkion strengthens our position as the 'Premier Full-Service Solution' for all of our customers. As an organization, we are excited that the Airway team brings their expertise and leadership, which will allow our combined teams to provide our customers with greater bandwidth and a larger set of solutions," Justin Orr and Travis Harkins, Takkion Co-COOs.
Takkion was advised by Vinson & Elkins. Airway Services was advised by Cascadia Capital and Foley & Lardner.
AstraZeneca-backed Alexion completed the acquisition of the remaining stake in Caelum Biosciences from Fortress Biotech for $350m.
AstraZeneca-backed Alexion, a company focused on rare diseases, completed the acquisition of the remaining stake in Caelum Biosciences, a clinical-stage biotechnology company, from Fortress Biotech for $350m.
"With a median survival time of less than 18 months following diagnosis, there is an urgent need for new treatments for this devastating disease. CAEL-101 has the potential to be the first therapy to target and remove amyloid deposits from organ tissues, improve organ function, and, ultimately, lead to longer lives for these patients," Marc Dunoyer, Alexion CEO.
Caelum Biosciences was advised by Alston & Bird. Fortress was advised by 6 Degrees.
IGP completed the acquisition of APCT from Angeles Equity Partners. (FS)
Industrial Growth Partners, a private investment partnership, completed the acquisition of APCT, an integrated manufacturer of complex, quick-turn printed circuit board prototypes, from Angeles Equity Partners, a private equity firm. Financial terms were not disclosed.
"We are proud of what we have accomplished with CEO Steve Robinson and the entire APCT team. The strategic and operational transformation we executed is a testament to the Angeles value creation model and another example of our ability to partner with management teams to build exceptional industrial businesses," Timothy Meyer and Jordan Katz, Angeles Equity Co-Founders and Managing Partners.
APCT and Angeles Equity were advised by Jefferies & Company and Massumi + Consoli.
Alkeon Capital led a $250m Series D funding round in Tekion. (FS)
Alkeon Capital, a privately owned registered investment adviser, led a $250m Series D funding round in Tekion, a developer of a cloud-built platform intended to connect digital experiences to automotive retail. Additional investors include Durable Capital, Hyundai Motor, Advent International, Index Ventures and FM Capital.
"We’re impressed by Tekion’s talented team of innovators who have transformed the automotive retail market with a game-changing platform dedicated to delivering the best dealer and retail experiences. Tekion is disrupting the industry with its cutting-edge cloud-based platform, and we believe in the company’s capacity for value creation and exponential long-term growth through scalability,” Henry Ellenbogen, Durable Chief Investment Officer.
Tekion was advised by Fenwick & West.
Left Lane Capital led a $110m Series A funding round in Masterworks. (FS)
Left Lane Capital, a venture capital and early growth equity firm, led a $110m Series A funding round in Masterworks, an investment platform to securitize blue-chip art. Other investors include Galaxy Interactive and Tru Arrow Partners.
"We are thrilled to complete our Series A with such a high-quality group of investors, including our lead investor, Left Lane Capital. Left Lane understood our market, business model mechanics and drivers in a more nuanced way than anyone else. Art is among the largest asset classes remaining that has never been securitized. There are more than 9k firms that help investors allocate to venture and private equity, but none other than Masterworks that facilitates fractional investment in art," Scott Lynn, Masterworks Founder.
Masterworks was advised by Goldman Sachs.
Northwest Pipe completed the acquisition of Park Environmental Equipment for $87m.
Northwest Pipe, a manufacturer for water related infrastructure products, completed the acquisition of Park Environmental Equipment, a provider of construction solutions, for $87m.
"As a result, we will be focused on bringing the production of ParkUSA's products to our historic facilities. The solid organic growth potential, margin characteristics, asset efficiency and cash flow profile were key determining factors in this acquisition and will remain integral as we build upon the $67m in revenue and $14m in adjusted EBITDA that ParkUSA generated for the full year of 2020," Scott Montross, Northwest Pipe President and CEO.
Northwest Pipe was advised by Jefferies & Company.
Southfield Capital-backed Protos Security completed the acquisition of Off Duty Services. (FS)
Southfield Capital-backed Protos Security, a technology-enabled security services company, completed the acquisition of Off Duty Services, a provider of off-duty police officers to the private sector nationwide. Financial terms were not disclosed.
"This acquisition greatly accelerates the growth of our organization and enhances our service offering while also positioning us as the fourth largest security services provider nationally. Customers can expect business as usual, with added support for security guarding on the ODS side and off-duty police on the Protos side. We couldn't be prouder of what this combined team brings to the marketplace," Anthony Escamilla, Protos CFO.
Off Duty was advised by Raymond James.
ARMOR completed the acquisition of the industrial segment of International Imaging Materials from ACON Investments. (FS)
ARMOR, a manufacturer of security equipment, completed the acquisition of the industrial segment of International Imaging Materials, a global developer and manufacturer of printing, imaging and marking solutions, from ACON Investments, a private equity investment company. Financial terms were not disclosed.
"Our partnership with ACON has produced strong results. Their investment, guidance and support over the last three years has been invaluable. ACON's growth-oriented mindset and focus on teamwork and collaboration with management has been critical to IIMAK's success. We are now looking forward to continuing the journey with ARMOR," Doug Wagner, IIMAK CEO.
ARMOR was advised by Jones Day.
Baillie Gifford and Perceptive Advisors led a $370m Series E funding round in Honor. (FS)
Baillie Gifford, an investment management firm, and Perceptive Advisors, a private equity investment firm, led a $370m Series E funding round in Honor, a senior care network. Other investors include T. Rowe Price Associates, Prosus Ventures, Andreessen Horowitz, Thrive Capital and Ares Management.
“This helps us with the opportunities around the acquisition of Home Instead. Honor’s technology and operations platform will be offered and diffused throughout the full Home Instead network. This will create new capabilities for the entire Home Instead network and increase more capacity to provide care. This also drives new product development — new R&D," Seth Sternberg, Honor CEO and Co-Founder.
