Author: Luisa Beltran

Haystax Technology, which is backed by Edgewater Funds, said Tuesday that it acquired FlexPoint Technology. Financial terms weren’t announced. Reston, Va.-based Flexpoint, professional services company, provides private and public cloud solutions that supplies secure collaboration and application development capabilities.

PRESS RELEASE

Haystax Technology, Inc. (Haystax), a portfolio company of the Edgewater Funds, today announced the acquisition of FlexPoint Technology, LLC. Haystax provides multi-source information integration, big data analytics and visualization to address the challenges posed by exponential increases in data volume to customers in the intelligence, defense and security communities. The FlexPoint acquisition extends Haystax products and services in defense and intelligence markets and marks their second acquisition in three weeks.
FlexPoint Technology is a professional services company providing private and public cloud solutions that deliver secure collaboration and application development capabilities to security-demanding environments. Defense and intelligence community customers rely on FlexPoint solutions to rapidly deploy secure cloud computing environments for substantial improvements in performance and reduced operating expenses. FlexPoint software and engineering services deliver custom mission applications and manage internal users and external partners, ensuring the right people have the right information to make the right decisions
Haystax Technology CEO, William B. Van Vleet , said, “The addition of FlexPoint Technology’s cloud computing and security services perfectly complements our existing capabilities in big data analytics and mobile solutions. This combination results in a full spectrum of products and services with expertise in each of the four technology forces that are revolutionizing government and private industry.”
FlexPoint Technology President, David Conrad , added, “Haystax Technology provides additional capabilities and resources in real-time analytics and mobile solutions to extend the range of our capabilities for our clients’ critical missions. Joining this team strengthens our overall capabilities and provides an outstanding cultural match for our employees and customers.”
Following the acquisition, FlexPoint will be known as FlexPoint Technology, a Haystax Company, and will continue to be led by its president, David Conrad . The terms of the transaction were not released.
About FlexPoint Technology, LLC
FlexPoint Technology is a Virginia-based IT professional services company that specializes in delivering cloud computing and enterprise content management services to government customers with extremely demanding security requirements. FlexPoint solutions leverage commercial off-the-shelf technology to deliver identity management, secure collaboration services, infrastructure management and application development. Visit FlexPoint on the Web at www.flexpointtech.com
About Haystax Technology
Haystax Technology, Inc. provides next generation products, systems and service solutions to sift, refine and analyze large, disparate and unstructured volumes of data to reveal undiscovered connections and enable precise, actionable intelligence for government and commercial market clients. In essence, these technologies allow users to find “the needle in the haystack” quickly and reliably. For further information about Haystax Technology, visit our website at www.haystaxtechnology.com.
About The Edgewater Funds
The Edgewater Funds is a Chicago-based private equity firm with $1.4 billion in committed capital. Edgewater Growth Capital Partners with management to help accelerate growth in their businesses. Edgewater focuses on funding high quality middle market companies where we can add substantial value through our capital, our experience and our broad network. Edgewater leverages the experiences of its Partners and Advisory Board who have distinguished themselves as successful CEOs and business leaders.

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Polaris Wireless said Tuesday that it completed a recapitalizatoon of of existing equity interests on April 25. The recap included closing a Series C financing with $10 million from Industry Ventures. Victor Hwang, an Industry Ventures MD, joined the Polaris board. Mountain View, Calif.-based Polaris provides software-based wireless location solutions.

PRESS RELEASE

Polaris Wireless, the global leader in high-accuracy, software-based wireless location solutions, today announced that the company closed on a recapitalization of existing equity interests on April 25, 2013. As part of the recapitalization, Polaris Wireless completed a Series C financing with $10 million from Industry Ventures, a leading investment firm focused on the venture capital market, and Industry Ventures Managing Director Victor Hwang has joined the Polaris Wireless Board of Directors.

“Industry Ventures seeks to invest in market leading growth companies and we believe Polaris Wireless is a clear leader in the wireless location market,” said Hwang. “We are very excited about Polaris Wireless’ strong growth trajectory and global presence, and look forward to working with Manlio Allegra and the senior team at Polaris Wireless in their next chapter of growth.”

The investment by Industry Ventures also returned capital to Series A investor Draper Fisher Jurvetson (DFJ) and will also be used to fund Polaris Wireless’ future international growth.

“We look forward to an exciting new growth chapter for our company with Industry Ventures by our side,” said Manlio Allegra, Polaris Wireless CEO and Co-founder.

Polaris Wireless has emerged as a leader in the wireless location services market, with a record increase in revenue and profitability in 2011 and 2012, driven by aggressive growth for its location solutions across the globe. Twenty-four U.S. wireless carriers, six managed services partners, and fifteen international deployments now rely on Polaris Wireless location solutions to enable emergency call applications, lawful and mass location surveillance, and other location-based services.

About Polaris Wireless

Headquartered in Mountain View, Calif., Polaris Wireless is the global leader in providing high-accuracy, software-based wireless location solutions to wireless operators, law enforcement/government agencies and location-based application companies. Since 2003, Polaris Wireless has successfully completed 39 global deployments – 15 for lawful location surveillance and LBS in Asia and EMEA, and 24 to meet FCC E911 Phase II requirements in the US. The company has offices in Dubai, U.A.E., Bangalore, India, London, UK, and Santiago, Chile.

Polaris Wireless is the recipient of the prestigious Frost & Sullivan “2011 Enabling Technology of the Year” award and was named to the 2012 Inc. 5000 list of fastest-growing private companies, recognizing the company’s accomplishments and leadership in developing location solutions. The company participates in location committees and other groups within the 3GPP and OMA standards setting bodies, and also participates in regulatory and industry bodies related to E911, lawful location surveillance, and location-based services. Polaris Wireless is located at 301 North Whisman Road, Mountain View, CA 94043 USA. For more information about Polaris Wireless, please visit http://www.polariswireless.com.

About Industry Ventures LLC

Industry Ventures is a leading investment firm focused on the venture capital market. The firm manages a family of funds that invest in secondary direct investments, limited partnership interests and other special situations. Founded in 2000, the firm manages over $1 billion of institutional capital and is headquartered in San Francisco with an office in Washington, D.C. For more information, please visit www.industryventures.com.

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PineBridge Investments said Tuesday that Jason Fisher joined the firm as SVP, Head of Consultant Relations for the Americas and Europe. He will be based in Los Angeles and report to John Baumann, Head of Institutional Sales and Client Service, Americas and Europe. Most recently, Fisher was at J.P. Morgan Asset Management where he held a number of senior sales and consultant positions over the last decade.

PRESS RELEASE

PineBridge Investments (“PineBridge”), the global multi-asset class investment manager, today announced that Jason Fisher joined the firm as Senior Vice President, Head of Consultant Relations for the Americas and Europe. Mr. Fisher will work closely with PineBridge’s Sales and Client Service Teams to enhance the firm’s relationships with global institutional consulting firms. Mr. Fisher will be based in Los Angeles and report to John Baumann, Head of Institutional Sales and Client Service, Americas and Europe.

David Jiang, Chief Executive Officer at PineBridge said, “Jason’s strong business development acumen and experience will be instrumental in strengthening the firm’s relationships with the consultant community in the Americas and Europe. His appointment underscores our continued commitment to deepening our relationships with institutional investors and to growing our firm’s client base.”

John Baumann said, “I am pleased and excited that Jason will be joining our 38-person business development team in this key role. We are focused on strengthening our ties and expanding the growth of our consultant relationships. Jason has a long track record in the industry, and insightful knowledge of the different asset classes.”

“PineBridge is a world-class organization, with strong global products and capabilities. This will be an interesting role, and I look forward to working with the investment and business development teams to raise the knowledge base with consultants about PineBridge’s distinguished track record within the consultant community,” said Jason Fisher.

Mr. Fisher joins PineBridge from J.P. Morgan Asset Management where he held a number of senior sales and consultant positions over the last decade, most recently serving as Consultant Advisor and Executive Director of US Institutional Consultant Sales based in Los Angeles. Mr. Fisher holds FINRA securities licenses, including Series 3, 7 and 63, and earned a BBA in Marketing from the George Washington University in Washington, DC.

About PineBridge Investments

PineBridge is an independent asset manager with over 60 years of experience in developed and emerging markets. We manage US $71.5 billion across our platform for institutional and individual investors worldwide as of 31 March 2013. Our globally integrated investment platform offers innovative, core and specialized alpha-oriented solutions across asset allocation, equities, fixed income, private equity and hedge funds. What differentiates us is our integration of on-the-ground investment teams across asset classes, bringing investors the combined benefits of global perspectives and structured insights.

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Greenbriar Equity Group said Tuesday that an affiliate has completed a tender offer for all of the outstanding shares of common stock of EDAC Technologies Corp. at a purchase price of $17.75 per share. GB Aero intends to delist and de-register EDAC common stock, Greenbriar. Farmington, Conn.-based EDAC makes aerospace and industrial components.

PRESS RELEASE

Greenbriar Equity Group LLC (“Greenbriar”) announced today the successful completion of the tender offer by its affiliate, GB Aero Engine Merger Sub, Inc., a wholly owned subsidiary of GB Aero Engine LLC, for all of the outstanding shares of common stock of EDAC Technologies Corporation (NASDAQ: EDAC) (“EDAC”) at a purchase price of $17.75 per share. As of the expiration of the offer, 4,079,188 shares of common stock of EDAC were validly tendered and not withdrawn in the tender offer.

As part of the successful completion of the tender offer, GB Aero Engine LLC exercised its right granted under the merger agreement with EDAC pursuant to which the tender offer was made to purchase additional shares from EDAC which would allow GB Aero Engine LLC to complete the merger without stockholder approval. Today, GB Aero Engine LLC acquired all of the remaining outstanding shares of EDAC common stock by means of a “short form merger” in which all such shares, other than shares held by EDAC in treasury or shares held by EDAC’s shareholders who are entitled to and have properly exercised dissenters’ rights under Wisconsin law, were converted into the right to receive $17.75 per share, in cash and without interest, less any applicable withholding taxes. GB Aero Engine LLC intends to delist and de-register EDAC common stock as promptly as practicable following the effective time of the merger.

About Greenbriar Equity Group LLC

Greenbriar Equity Group LLC, a private equity firm with $1.5 billion of committed capital, focuses exclusively on the global transportation industry, including companies in aerospace and defense, automotive, freight and passenger transport, logistics and distribution, and related sectors. Greenbriar invests with proven management teams who are interested in being significant equity owners in their companies as well as with corporate partners who are interested in raising capital. Greenbriar’s partners bring many decades of experience at the highest levels within the transportation industry. Additional information may be found at www.greenbriarequity.com.

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Kelso & Company has acquired PowerTeam Services. Financial terms were not announced. The sellers were CIVC Partners and True North Equity. Plymouth, Mich.-based PowerTeam provides infrastructure services to the gas and electric utility industry. Harris Williams advised PowerTeam.

PRESS RELEASE

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of PowerTeam Services, LLC (PTS), a leading provider of infrastructure services to the gas and electric utility industry, to Kelso & Company (Kelso), which will merge PTS with its existing portfolio company Power Holdings.  PTS was a portfolio company of CIVC Partners, LP (CIVC) and True North Equity (TNE).  Harris Williams & Co. acted as the exclusive advisor to PTS.  The transaction closed on May 6, 2013 and was led by John Arendale and Tiff Armstrong, Matt White and Luke Semple from the firm’s Energy & Power (E&P) Group.

“PTS is an exceptional utility services platform with a compelling track record of both organic and acquisition-based growth.  The management team has done an excellent job building a differentiated utility services provider of scale,” said John Arendale, managing director at Harris Williams & Co.  “We are in the early stages of a utility infrastructure investment cycle,” added Matt White, director at Harris Williams & Co. “PTS, in partnership with Kelso, is ideally positioned to capitalize on substantial industry growth.”

PTS provides a comprehensive suite of services for the recurring repair, replacement, maintenance and installation of natural gas and electric transmission and distribution infrastructure.  PTS provides services through three operating units: KS Energy Services, Southeast Connections and Distribution Construction.  Collectively, the company has more than 1,400 employees across 14 states from the upper Midwest to the Southeast.  The entire senior management team will remain with PTS and is committed to continuing to provide exceptional service to their customers.

CIVC is a Chicago-based private equity firm established in 1970 that provides growth and buyout capital to middle market companies and executives with a focus on the business services and financial services sectors. The current management team, which has worked together since 1989, has completed 54 platform transactions and dozens of add-on acquisitions.  CIVC manages over $1.2 billion in private equity capital and currently invests from Fund IV.

Kelso is a private equity firm with a track record of successful middle market investing that spans more than thirty years.  Since 1980, Kelso has made investments in over 115 companies in a broad range of industry sectors.  The firm is currently investing its eighth investment partnership, Kelso Investment Associates VIII, L.P., with $5.1 billion of committed capital.

Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide.  The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence.  Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.

The firm’s E&P Group has experience across a broad range of sectors, including oil and gas equipment and services, energy efficiency and clean tech, industrial and infrastructure services, power products and technology, engineering and construction and environmental services.  For more information on our energy and power experience, please contact Tiff Armstrong or Matt White at +1 (804) 648-0072.

Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorized and regulated by the Financial Conduct Authority.  Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.

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Brandon Bradkin has joined CVC Credit Partners as a partner. Bradkin spent six years at Park Square Capital where he was a partner and member of Investment Committee. CVC Credit Partners is owned by CVC Capital Partners and Resource America. CVC Credit Partners is an investment group focused on sub-investment grade debt capital markets in the US and Europe.

PRESS RELEASE

CVC Credit Partners (“CVC Credit”) today announced that Brandon Bradkin joined the firm. Brandon joins as a Partner.
Brandon spent six years at Park Square Capital where he was a Partner and Member of Investment Committee.
Before joining Park Square, he was a Managing Director at Dresdner Anschutz Mezzanine Fund.
Previously, Brandon managed, turned around and sold two distressed portfolio companies. He has also been a Vice President in Investment Banking at Chase in London where he focused on leveraged telecom financings. Brandon began his career as a lawyer at O’Melveny & Myers in Los Angeles after having clerked for Judge John Minor Wisdom. Brandon has a J.D. from Harvard Law School and an A.B. from Harvard College.
Commenting on this appointment,
Marc Boughton, Chief Executive said: “I am delighted to be working with Brandon, who is well-known to many at CVC and in the wider market. Brandon brings more than 20 years of business, finance, legal, restructuring, investor and fund management experience which will be invaluable in developing our global franchise to support the markets, sponsors and our investors.”
Brandon Bradkin said:    “CVC has made a significant commitment to their credit business, with over $8.5 billion of sub-investment grade credit currently under management. CVC is one of the pioneers in alternative assets, and I am excited to be joining its growing credit business.”

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EPiServer, which is backed by IK Investment Partners, has acquired Euroling. Financial terms weren’t announced. Euroling is a Swedish search provider.

PRESS RELEASE

EPiServer, a global software provider for innovative ecommerce and digital marketing solutions, today announced its acquisition of Swedish search provider, Euroling. Following the acquisition, EPiServer will continue to support the customers and partners of the wholly-owned subsidiary of Euroling. Because the two organizations have joint stakeholders, the acquisition allows for improvements to operational efficiencies and presents opportunities for consolidation.
The acquisition will serve as a strong addition to EPiServer’s current offerings, as Euroling’s search technology, SiteSeeker, will be leveraged to expand upon EPiServer’s existing set of search capabilities.
Founded in Sweden in 2000, Euroling’s SiteSeeker has been used by customers in Sweden and Norway who have integrated the solution for on-site search within the EPiServer platform. The company’s strong roots in academic research have driven continual improvements to the technology, which in conjunction with EPiServer Find for big data, presents major opportunities to grow data navigation and semantic search capabilities into next generation solutions for effective digital marketing.
The acquisition also supports EPiServer’s long-term strategy to expand the ability to deliver market leading solutions for digital marketing and ecommerce. Search continues to be a key aspect of creating a great customer experience and rich source of behavioral information. The acquisition enables EPiServer to offer its customers the ability to search across multiple data sources regardless of where the data resides and whether it is structured or unstructured.
“The search market has become increasingly competitive and in those market conditions, you either focus on improving efficiency or there is a natural drive towards consolidation. As we have joint customers and partners, it was easy to see the business case for this acquisition. In addition, EPiServer has an established market position which can be leveraged for the restructured subsidiary and for efficiently supporting the stakeholders,” said Martin Henricson, CEO of EPiServer. “From a technology perspective, we know customers have to analyze an abundance of data faster and use that information to present a unique and personal online experience to their visitors. This initiative enables us to improve the customer experience by delivering the best and most appropriate results to the visitor through advanced search functionality.”
Other details of the acquisition were not disclosed.
About EPiServer
EPiServer connects ecommerce and digital marketing to help businesses create unique customer experiences which generates business results. EPiServer’s platform combines content, e-commerce and multi-channel marketing capabilities to work full-circle for businesses online, from intelligent optimization, lead-generation through to conversion and repeat business.
Sitting at the center of the digital marketing ecosystem, EPiServer empowers online and IT professionals to create superior customer experience for more than 20,000 websites worldwide. Built on .net, and supported by a pioneering partner network of over 630 partners in over 30 countries, EPiServer’s platform gives customers the ability to deliver the right content to the right person in the right format at a time that suits them. This approach means customers can maximize their investment in digital marketing and increase ROI. The company was founded in 1994 and has offices in the United States, Sweden, Denmark, Norway, Finland, The Netherlands, South Africa, Australia, Spain, UAE and the United Kingdom. EPiServer is controlled by the IK2007 Fund. IK Investment Partners is a European private equity firm with Nordic roots, managing EUR 5.7 billion in fund commitments.

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LMW2 Partners has recapped Kopetz Mfg. Financial terms weren’t announced. Decatur, Ill.-based Kopetz is a metal fabricator of large pressure vessels and heat exchangers to the process industries and energy sectors. Sikich Investment Banking provided financial advice to Kopetz owners.

PRESS RELEASE

Sikich Investment Banking (“Sikich”) has announced its most recent transaction: the recapitalization of Kopetz Mfg., Inc. (“Kopetz” or the “Company”) by private equity firm, LMW2 Partners, LLC. Sikich served as the exclusive financial advisor to the owners of Kopetz.
Kopetz, founded in 1976 with roots going back more than 60 years, is based in Decatur, Illinois. Kopetz is a leading metal fabricator of large pressure vessels and heat exchangers to the worldwide process industries and energy sectors. The Company has grown rapidly in recent years, nearly doubling its workforce from early in 2010. Much of this success is due to its expansion in the burgeoning Liquefied Natural Gas (“LNG”) industry. Kopetz produces custom, proprietary, LNG vaporizers for both land-based and ship-borne applications used around the world including Asia, the Middle East and South America.
Having successfully led the Company through the recession, Jim Grady, Kopetz’s owner, was looking for an investment partner to assist in taking Kopetz to the next level. Grady engaged the services of Chicago-based Sikich Investment Banking to guide him in this process. The Sikich team, led by Partner-in-Charge, Christopher Geier, and Managing Director, Bob Stutz, was able to develop numerous attractive proposals for Kopetz. Sikich, with a long history of working with private companies, quickly saw the value in Kopetz. “Kopetz is a global leader in the LNG space. With significant growth opportunities across multiple industries, LMW2 is an ideal capital partner with capacity to support that growth,” commented Geier.
“In addition to capital, we were seeking a partner that could provide strategic advice, industry connections and international expertise. Sikich helped us to tell the story of Kopetz in a compelling way, and they were able to bring us several investors interested in the Company,” said Jim Grady. “Their industry knowledge and operational experience were integral, and those strengths are not common in a financial advisor. In the end, Sikich found the right investment partner in LMW2 to help us realize the full potential of Kopetz.”
Terms of the transaction were not disclosed.
About Sikich Investment Banking
Based in Chicago, Sikich Investment Banking is part of Sikich LLP, a highly integrated, multidisciplinary professional services firm with more than 400 employees working out of eight offices located in Illinois, Indiana, Missouri and Colorado. Sikich Investment Banking is the Firm’s corporate finance and advisory practice, and through its wholly-owned subsidiary, Sikich Corporate Finance LLC, a registered broker-dealer and member of FINRA/SIPC, it provides capital raising, mergers and acquisitions, and strategic advisory services tailored to middle market clients in the U.S. and abroad. The Firm’s investment banking partners are known for their expertise in negotiating complicated issues and structures, and navigating through the complexities inherent in industries such as technology, life sciences, manufacturing, and others. Their strategic advisory acumen enables them to effectively guide client companies through the process of defining and honing their value proposition, understanding the competitive landscape and where they fit, and ultimately realizing maximum investment returns. Visit the Sikich Investment Banking page at http://www.sikich.com/IB for more information.
Securities are offered through Sikich Corporate Finance LLC, a registered broker dealer with the Securities Exchange Commission and a member of FINRA/SIPC.
About Kopetz Mfg., Inc.
Kopetz Mfg., Inc. fabricates custom ASME pressure vessels and TEMA heat exchangers. The Company specializes in chemical processing equipment, shell & tube heat exchangers and LNG vaporizers, offering its clients 60 years of precision fabrication experience, advanced engineering skills, outstanding quality and specialized high-tech equipment. Founded in 1976, Kopetz’s facility is located in Decatur, Illinois, and the Company’s fabrications have been shipped all over the world to countries such as China, Brazil, Japan, Turkey, Germany, Indonesia, Taiwan, India, Columbia and Korea.
About LMW2 Partners, LLC
LMW2 Partners, LLC is a New Jersey-based private equity firm founded by individuals with diverse investment backgrounds and expertise. Across the group, LMW2 has successfully made investments in the middle market industrial, healthcare, real estate and professional sports sectors in the US and abroad. Through their experience and associations, LMW2 has proven to be a valuable partner for the growing companies in which they have invested.

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Capas has acquired E-Learning Mind. Financial terms weren’t announced. E-Learning, of San Diego, provides corporate learning solutions to Fortune 100 brands, such as Citigroup and Nestle

PRESS RELEASE

San Diego based E-Learning Mind is pleased to announce that it has been acquired by Capas Inc, a Detroit based private equity investment firm, with an innovative vision for the future of corporate learning solutions aiming to provide competitive advantage for their clients through innovative design and premium content.
Established in 2008, E-Learning Mind, delivers Corporate Learning solutions to Fortune 100 brands, such as Citigroup and Nestle. E-Learning Mind offers customized e-learning solutions and strategic tools for a myriad of needs including: sales training, systems training, product knowledge, health and safety, as well as customer service and compliance training.

With the acquisition will come new leadership structure, priming the business for maximum innovation and industry advancement.  Assuming the corporate leadership roles of E-Learning Mind are Capas Executives Andrew Fayad, as CEO and Managing Partner and Simon Casuto, as President and Managing Partner.

“We welcome the Capas leadership as they showed that they had a clear vision for the future of corporate learning,” says new Director of E-Learning and former E-Learning Mind CEO Jack Mahklouf.

Prior to E-Learning Mind, Capas Inc.’s Andrew Fayad and Simon Casuto were colleagues at S&P Capital IQ.  Fayad also led the Corporate Member Development effort at Axial Inc., an online network for private market transactions founded in New York City. Axial works with investors and companies to connect them through capital. It was through Axial that Capas discovered E-Learning Mind and realized they were primed for investment and accelerated growth, with technological innovations.

“Corporate Learning represents a $56.2 Billion global industry.  E-Learning Mind is a prime player with strong talent, top tier clients, and a scientific approach to technology powered learning,” says newly appointed CEO Andrew Fayad.

Fayad and Casuto are looking to the future of corporate learning, through advanced technology, premium content, design and an experience that accelerates learning.

“While corporate learning has grown as an industry, the solutions developed have not kept up with the growth of consumer technology and modern multimedia content, “ notes Fayad.

To handle this challenge, Casuto will be working to head up a complete product and brand overhaul.

“We believe this an industry in need of innovation and we will be bringing to bear the benefits of a private equity investment, through the mechanics of this acquisition deal,” Casuto adds.

–

About CAPAS
Founded in 2012, Capas, Inc. provides strategic investment solutions to exceptional companies within the elearning industry. The company is led by a diverse group of industry leaders from the financial, educational, medical, and entrepreneurial fields.

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Crestwood Midstream Partners LP and Inergy Midstream LP agreed to merge in a cash and stock deal to tap demand for pipeline and storage services in North America’s fast-developing shale fields, Reuters is reporting.

(Reuters) – Crestwood Midstream Partners LP (CMLP.N: Quote, Profile, Research, Stock Buzz) and Inergy Midstream LP (NRGM.N: Quote, Profile, Research, Stock Buzz) agreed to merge in a cash and stock deal to tap demand for pipeline and storage services in North America’s fast-developing shale fields.

Rapid growth in production from shale fields in the United States has created demand for new energy infrastructure to gather, process and ship oil, natural gas and related liquids.

The combined entity, with an enterprise value of about $7 billion, will cater to shale fields including the Marcellus Shale, Bakken Shale, Eagle Ford Shale and the Barnett Shale, the companies said in a statement.

The deal, also involving affiliates Crestwood Holdings and Inergy LP (NRGY.N: Quote, Profile, Research, Stock Buzz), will be implemented through a series of transactions scheduled for completion in the third quarter of 2013.

Crestwood Chief Executive Robert Phillips will lead the combined company, which will be headquartered in Houston, Texas.
Inergy Midstream and Inergy LP would continue to be listed on the New York Stock Exchange upon completion of the deal, while Crestwood Midstream will be merged with a wholly owned unit of Inergy Midstream, the companies said.

Crestwood Midstream’s shares were up more than 5 percent at $25.16 in early trading on Monday. Inergy Midstream’s shares rose 1 percent to $24.40.

Citigroup Global Markets Inc acted as exclusive financial adviser to Crestwood. Simpson Thacher & Bartlett LLP and Akin Gump Strauss Hauer & Feld LLP acted as legal counsel.

Greenhill & Co served as lead financial adviser and Jefferies LLC served as co-financial adviser and sole technical advisor for Inergy L.P. and Inergy Midstream. Vinson & Elkins LLP acted as legal counsel to Inergy L.P. and Inergy Midstream.

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Berkshire Partners said Monday that Gideon Argov will join the firm as an Advisory Director. He will work with Berkshire to source new investment ideas and serve as an operating advisor to portfolio companies. Argov serves as director of J.M. Huber Corp., Beechcraft, Servotronix and Energy Points. He previously served as CEO of Entegris.

PRESS RELEASE

Berkshire Partners LLC, the Boston-based investment firm, announced today that Gideon Argov will join the firm as an Advisory Director. Mr. Argov will work with Berkshire to source new investment ideas and serve as an operating advisor to portfolio companies.

Josh Lutzker, Managing Director of Berkshire, said, “We have had the pleasure of knowing Gideon for many years and have been impressed by his track record of success both internationally and with various industrial companies. Gideon brings a level of expertise to every organization with which he is involved and his skills are evident in the success of the companies he has led. We are proud to have Gideon join the Berkshire team.”

“Berkshire Partners is a unique combination of outstanding investment results and a culture based on teamwork and partnership,” said Mr. Argov. “I am honored and excited to be joining such a high caliber team.”

Mr. Argov serves as director of J.M. Huber Corporation, Beechcraft LLC, Servotronix and Energy Points. He is a member of the Council on Foreign Relations and the International Council of the Belfer Center at the John F. Kennedy School of Government. He is involved in numerous non-profit organizations including Beth Israel Deaconess Medical Center in Boston and the Inter-Disciplinary Center (IDC) in Herzliya, Israel where he founded the Shlomo Argov Fellows Program for public sector leadership.

Gideon previously served as Chief Executive Officer of Entegris, a global provider of materials and components to the semiconductor and electronics industries and was a Managing Director of Parthenon Capital. For nearly a decade, he was Chairman and Chief Executive of Kollmorgen, a factory automation and electro-optical systems provider. Gideon also served as a combat officer and Company Commander in the armored corps of the Israel Defense Forces.

Gideon graduated with an A.B. (Magna cum Laude) from Harvard University and earned an M.B.A. from Stanford University.

Berkshire Partners LLC

About Berkshire Partners LLC
Berkshire Partners, the Boston-based investment firm, pursues investments in both private equity and marketable securities. Since 1986, the firm has deployed capital from its eight private equity funds with $11 billion in aggregate capital commitments to invest in over 100 middle market companies. Berkshire has developed specific industry experience in several areas including consumer products and retail, business services, industrials, transportation and communications. Within private equity, Berkshire seeks to invest $50 million to $500 million of private equity capital in each portfolio company and has a strong history of partnering with management teams to grow the companies in which it invests with the goal of consistently achieving superior investment returns. The firm invests in marketable securities through Stockbridge, which was founded in 2007 and seeks to manage a concentrated portfolio of attractive long-term investments. Collectively, the firm benefits from its shared experiences, insights and relationships as it pursues its investment activities. For additional information, visit www.berkshirepartners.com.

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Marlin Equity Partners said Monday it completed its buy of the Optical Networks business of Nokia Siemens Networks to form Coriant. Munich, Germany-based Coriant is a supplier of optical transport solutions. The transaction was announced in December.

PRESS RELEASE

Marlin Equity Partners today announced the closing of the transaction announced on December 3, 2012, which transfers the Optical Networks business of Nokia Siemens Networks to form Coriant. The company sets a new course and vision for the optical networking industry. Launched at the industry fair OFC/NFOEC in March 2013, Coriant focuses on accelerating leadership through its high-performance coherent 100G transport solutions and software-defined, optical layer intelligence.

“We are very excited to start our journey forward as an independent company,” said Herbert Merz, President and Chief Executive Officer, Coriant. “We enter the market with proven expertise in optical networking solutions that form the foundation for building Tier 1 networks around the world. We will continue to increase value for our customers as an ever-growing demand for mobile, video and cloud services creates new opportunities for differentiated, end-to-end service offerings.”

Coriant today formally resumed full business responsibility as well as the majority of employees from Nokia Siemens Networks’ Optical Networks business. With the closing of the transaction, the newly formed company will have operations in more than 48 countries. Coriant, which plans to leverage its 30 years of German engineering excellence to lead the optical networking industry, takes up operations with the competitive advantage of being the preferred supplier to fixed line and mobile network operators in six continents and more than 100 countries.

Nick Kaiser, a partner at Marlin, stated “We are excited to back the Coriant team and we view     the standalone business as an ideal platform for growth in the optical networking sector. We are committed to extending Coriant’s market leadership by actively pursuing both, organic growth opportunities and strategic acquisitions.”
“With today’s exponential expansion in bandwidth demand, the global growth prospects of     optical networking are enormous,” said Pat DiPietro, an operating partner at Marlin. “We believe that Coriant’s strong management team and relentless pursuit of innovation will continue to drive the company forward as an industry leader.”

About Coriant:
Coriant, founded as an independent company in 2013, is a global supplier of leading optical transport solutions and software-defined, optical layer intelligence to Tier 1 networks. Coriant’s products enable fixed line and mobile network operators to maximize the performance and value of their infrastructure as bandwidth demands on networks grow exponentially. The company operates worldwide in more than 48 countries and is headquartered in Munich, Germany. Coriant has R&D centers in Asia, Germany, Portugal and the U.S., as well as a production center in Berlin, Germany.
Learn more at http://www.coriant.com

About Marlin Equity Partners:
Marlin Equity Partners is a global private investment firm with over $1 billion of capital under management. The firm is focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs. Marlin invests in businesses across multiple industries where its capital base, industry relationships and extensive network of operational resources significantly strengthens a company’s outlook and enhances value. Since its inception, Marlin, through its group of funds and related companies, has successfully completed over 60 acquisitions. The firm is headquartered in Los Angeles, California with an additional office in London.
For more information, please visit http://www.marlinequity.com.

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BMC Software said Monday it agreed to be acquired by a private investor group led by Bain Capital and Golden Gate Capital for about $6.9 billion. The group also includes GIC Special Investments Pte Ltd and Insight Venture Partners. Terms of the deal call for the investor group to pay $46.25 a share for all outstanding BMC common stock. Morgan Stanley & Co. and BofA Merrill Lynch are advising BMC. Qatalyst Partners, Credit Suisse, RBC Capital Markets and Barclays are serving as financial advisors to the Investor Group.

PRESS RELEASE

BMC Software (NASDAQ: BMC) (“the Company”) has signed a definitive agreement to be acquired by a private investor group led by Bain Capital and Golden Gate Capital together with GIC Special Investments Pte Ltd (“GIC”) and Insight Venture Partners (collectively, the “Investor Group”).
Under the terms of the agreement, affiliates of the Investor Group will acquire all outstanding BMC common stock for $46.25 per share in cash, or approximately $6.9 billion, representing an attractive premium to the Company’s unaffected stock price. The agreement was approved by unanimous vote of those directors present.
“After a thorough review of strategic alternatives, the BMC board of directors is pleased to reach this agreement, which provides shareholders with immediate and substantial cash value, as well as a premium to our unaffected share price,” said Bob Beauchamp, chairman and chief executive officer at BMC. “BMC believes the opportunity to become a private company will provide additional flexibility and position us to invest more strategically to drive powerful innovation and deliver cutting edge customer solutions. We look forward to working closely with all parties to complete this transaction and enter into our next chapter of growth and industry leadership.”
Elliott Management, which owns 9.6 percent of the BMC common stock, has agreed to vote its shares in favor of the transaction. Jesse Cohn, portfolio manager, said: “Elliott applauds the BMC Software board and executive leadership for delivering this value-maximizing outcome for stockholders, which both contains a go-shop provision and reflects what we believe is a substantial premium to BMC’s unaffected stock price. Credit also goes to Bain Capital, Golden Gate Capital, GIC and Insight Venture Partners for recognizing this exciting investment opportunity. This deal represents a tremendous outcome for BMC’s employees, customers and stockholders.”
“BMC is the only enterprise software vendor that can go from mainframe to mobile, with solutions that help IT drive real business innovation and optimize operations management and employee productivity,” said Ian Loring, managing director at Bain Capital. “We and the rest of the Investor Group look forward to working with the management team and employees of BMC to execute additional growth strategies designed to expand the Company’s capabilities and enhance its relationships with customers and partners around the world.”
“BMC is an innovative leader in IT operations management and has strong leadership positions in growing segments such as cloud management, service management and workload automation,” said Prescott Ashe, managing director of Golden Gate Capital. “We are excited to work with the management team and employees to accelerate BMC’s growth and strengthen its position as the best-in-class provider of IT management software for heterogeneous environments.”There is no financing condition associated with the proposed acquisition. Credit Suisse, RBC Capital Markets and Barclays have agreed to provide debt financing in connection with the transaction.
The transaction, which is expected to close later this year, is subject to approval from BMC shareholders, regulatory approvals and other customary closing conditions.
Under the terms of the agreement, for a period of 30 calendar days, BMC may solicit alternative proposals from third parties. BMC does not anticipate that it will disclose any developments with regard to this process unless and until the BMC board of directors makes a decision with respect to a potential superior proposal. There are no guarantees that this process will result in a superior proposal.
Morgan Stanley & Co. LLC and BofA Merrill Lynch are serving as financial advisors, and Wachtell, Lipton, Rosen & Katz is serving as legal counsel to BMC. Qatalyst Partners, Credit Suisse, RBC Capital Markets and Barclays are serving as financial advisors to the Investor Group. Kirkland & Ellis LLP is serving as legal counsel and PwC LLP is serving as accounting advisor to the Investor Group. Sidley Austin LLP is serving as legal advisor to GIC. Willkie Farr & Gallager LLP is the legal advisor for Insight Venture Partners.
BMC will release results for Q4FY13 on or before May 7, 2013.    Due to the pending transaction, BMC will not host an investor call.
Business Runs on IT. IT Runs on BMC Software. More than 20,000 IT organizations – from the Global 100 to the smallest businesses – in over 120 countries rely on BMC Software (NASDAQ: BMC) to manage their business services and applications across distributed, mainframe, virtual and cloud environments. With the industry’s broadest choice of leading IT management solutions, including the award-winning Cloud Management and MyIT offerings, BMC helps customers cut costs, reduce risk and achieve business objectives. For the four fiscal quarters ended March 31, 2013, BMC revenue was $2.2 billion. www.bmc.com
About Bain Capital, LLC Bain Capital, LLC is a global private investment firm that manages several pools of capital including private equity, venture capital, public equity, credit products and absolute return with approximately $70 billion in assets under management. Bain Capital has a team of over 300 professionals dedicated to investing and to supporting its portfolio companies. Since its inception in 1984, Bain Capital has made private equity, growth, and venture capital investments in over 450 companies around the world, including such leading technology and software companies as SunGard Data Systems, NXP, LinkedIn, SolarWinds, SurveyMonkey, SevOne, DynaTrace Software, WorldPay, Skillsoft, MYOB, Applied Systems, Archer Technologies and Cerved Group SpA. The firm has offices in Boston, New York, Chicago, Palo Alto, London, Munich, Tokyo, Shanghai, Hong Kong and Mumbai. www.baincapital.com
About Golden Gate Capital Golden Gate Capital is a San Francisco-based private equity investment firm with more than $12 billion of capital under management. Golden Gate Capital partners with world-class management teams to invest in change-intensive, growth businesses where there is a demonstrable opportunity to significantly enhance a company’s value. The principals of Golden Gate Capital have a long and successful history of investing with management partners across a wide range of industries and transaction types, including going-privates, corporate
divestitures, and recapitalizations, as well as debt and public equity investments. Golden Gate Capital is one of the most active investors in the software and IT sectors. Other notable software investments sponsored by Golden Gate Capital include Infor, Lawson, Attachmate, Novell, Ex Libris, Micro Focus and Aspect. www.goldengatecap.com
About GIC The Government of Singapore Investment Corporation Private Limited (GIC) is a sovereign wealth fund established in 1981 to manage Singapore’s foreign reserves. GIC’s mission is to preserve and enhance the international purchasing power of the reserves, with the aim to achieve good long-term returns above global inflation over the investment time horizon of 20 years. With a network of nine offices in key financial capitals around the world, GIC invests internationally in equities, fixed income, money-market instruments, real estate and special investments. GIC Special Investments Pte Ltd, the private equity arm of GIC, is one of the world’s largest private equity investors and manages a multi-billion dollar portfolio of fund investments and direct investments in companies. www.gic.com.sg/
About Insight Venture Partners Insight Venture Partners is a leading venture capital and private equity firm investing in eCommerce, Internet, on-premise and SaaS-based software and data-services companies. Founded in 1995, Insight has raised more than $6 billion and made more than 190 investments. Our mission is to find, fund and work successfully with visionary executives who are driving change in their industries. www.insightpartners.com
###
BMC, BMC Software, and the BMC Software logo are the exclusive properties of BMC Software Inc., are registered with the U.S. Patent and Trademark Office, and may be registered or pending registration in other countries. All other BMC trademarks, service marks, and logos may be registered or pending registration in the U.S. or in other countries. All other trademarks or registered trademarks are the property of their respective owners. © 2012 BMC Software
Additional Information and Where to Find It In connection with the proposed transaction, the Company will file with the Securities and Exchange Commission (the “SEC”) and furnish to the Company’s stockholders a proxy statement. BEFORE MAKING ANY VOTING DECISION, THE COMPANY’S STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT IN ITS ENTIRETY WHEN IT BECOMES AVAILABLE AND ANY OTHER DOCUMENTS TO BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED MERGER OR INCORPORATED BY REFERENCE IN THE PROXY STATEMENT BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES TO THE PROPOSED TRANSACTION. Investors and security holders may obtain a free copy of documents filed by BMC Software, Inc. with the SEC at the SEC’s website at http://www.sec.gov. In addition, investors and security holders may obtain a free copy of BMC Software, Inc.’s filings with the SEC from BMC Software, Inc.’s website at http://investors.bmc.com/sec.cfm or by directing a request to: BMC Software, Inc., 2101 CityWest Blvd., Houston, Texas 77042-2827, Attn: Investor Relations, (713) 918-1805.

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API Heat Transfer, a portfolio company of Wellspring Capital Management, has completed a recapitalization. The deal includes a new $300 million first-lien credit facility. The loan will enable API to pay a dividend to its investors, Wellspring says.  Buffalo, N.Y.-based API is a supplier for the design and manufacture of industrial heat exchangers.

PRESS RELEASE

Wellspring Capital Management LLC (“Wellspring”) announced today that its portfolio company API Heat Transfer (“API” or the “Company”) has completed a recapitalization, including a new $300 million first-lien credit facility.  The new credit facility will provide API with additional financial flexibility to invest in its business and enable the Company to pay its investors a dividend.

William F. Dawson, Jr., a Managing Partner of Wellspring, said, “API’s ability to secure this new credit facility reflects the Company’s strong performance under Wellspring’s ownership.  The Company’s enhanced capital structure enables it to return capital to investors while pursuing a range of attractive growth opportunities.”

John E. Morningstar, a Partner of Wellspring, added, “The combination of API Heat Transfer and ThermaSys created a premier supplier of heat exchangers that is well positioned to provide its customers with the industry’s best products and service.  We are excited to continue our operational and financial support of API as the management team executes its business strategy.”

UBS Securities LLC, RBC Capital Markets and GE Capital Markets acted as Joint Lead Arrangers and Joint Bookrunners for the credit facility.  UBS Securities LLC acted as Syndication Agent, RBC Capital Markets acted as Documentation Agent and General Electric Capital Corporation acted as Administrative Agent.

About Wellspring Capital Management
Wellspring Capital Management, founded in 1995, is a leading middle-market private equity firm that manages more than $3 billion of private equity capital. The firm’s objective is to bring partnership, experience and value creation to each investment. By teaming up with strong management, Wellspring is able to unlock underlying value and pursue new growth opportunities through strategic initiatives, operating improvements and add-on acquisitions. The firm functions as a strategic rather than tactical partner, providing management teams with top-line support, M&A experience and financial expertise, and access to resources. For additional information, please visit www.wellspringcapital.com.

About API Heat Transfer
API Heat Transfer is one of the world’s premier suppliers for the design and manufacture of industrial heat exchangers.  API is comprised of six business units that together provide premium brands customers know and trust while providing industry-leading quality and reliability as well as the broadest heat transfer product offering in the market.  The company is strategically positioned to serve nearly every end market with responsive, local, personalized service.  Its range of heat transfer solutions includes innovative designs, performance engineering, and the industry’s best product development and testing capabilities.  For more information, please visit www.apiheattransfer.com.

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The Jordan Co. said Monday it has agreed to sell Reinhold Holdings to HEICO Corp. Financial terms weren’t announced. Reinhold makes advanced custom composite components and complex composite assemblies for commercial aviation, defense and space applications. Lazard advised Reinhold.

PRESS RELEASE

The Resolute Fund, L.P., an affiliate of The Jordan Company, today announced that it has entered into a definitive agreement to sell Reinhold Holdings, Inc. (“Reinhold”) to HEICO Corporation (NYSE: HEI.A and HEI). Reinhold is a leading manufacturer of advanced custom composite components and complex composite assemblies for commercial aviation, defense and space applications. Financial details of the transaction, which is subject to customary closing conditions, were not disclosed.
Acquired by The Jordan Company in 2006 and headquartered in Santa Fe Springs, California, Reinhold produces high-quality, heat resistant, advanced custom composite components and assemblies. Reinhold provides its customers with product integrity, weight reduction and resilience in highly- demanding environments. Its commercial aviation products are primarily composite passenger seating solutions for existing and next-generation large and regional jet aircraft. Its defense and space products serve fail-safe, mission-critical roles for the rocket-propulsion industry.
“It has been a privilege to partner with the Reinhold management team in building a premier manufacturer of complex composite components and assemblies for safety-critical commercial aviation, defense and space applications,” said Jonathan F. Boucher, Managing Partner at The Jordan Company. “Reinhold provides exceptional service to its expanding list of customers. As part of HEICO, Reinhold is well positioned to further penetrate its growing markets.”
The Jordan Company worked in partnership with the management team to grow its competitive position through investments in operations and customer relationships. These organic activities have been supplemented by the strategic acquisition of Enpro Engineered Products, Inc. which further expanded the Company’s product portfolio and capabilities.
“The Jordan Company has been a great partner in supporting the growth and expansion of Reinhold,” said Clarence Hightower, CEO of Reinhold. “Jordan has confidently supported Management by providing the necessary resources and operational guidance, M&A expertise and strategic planning support. With the full support of The Jordan Company, Reinhold has demonstrated significant growth, market share gains and customer satisfaction in its growing Commercial Aircraft and Defense (Domestic and Foreign Military Sales) markets.”
Lazard acted as exclusive financial advisor to Reinhold. Mayer Brown LLP acted as legal advisor to The Jordan Company.
About The Jordan Company
The Jordan Company, founded in 1982, is a leading middle-market private equity firm with approximately $5 billion of capital under management and a successful track record of investing in and growing businesses across a wide range of industries. The firm’s partners have been investing together for more than two decades, establishing The Jordan Company as one of the most experienced and stable investment teams in private equity. The investment team is supported by the firm’s OperationsManagement Group, which initiates and supports operational improvements in portfolio companies. The firm generates deal flow through a well-developed network of sourcing relationships. Headquartered in New York, The Jordan Company also has offices in Chicago and Shanghai. For more information, please refer to www.thejordancompany.com
About Reinhold Industries, Inc
Reinhold Holdings, Inc. (“Reinhold”) is a leading manufacturer of advanced custom composite components and complex composite assemblies for commercial aviation, defense and space applications. Its commercial aviation products are primarily composite passenger seating solutions for existing and next-generation large and regional jet aircraft. Its defense and space products serve fail-safe, mission-critical roles for the rocket-propulsion industry.

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Sunstone Components Group has signed a letter of intent with Pancon Corp. to sell substantially all of the company’s assets. Sunstone said it has consented to involuntary Chapter 11 petitions filed against it in April. Sunstone expects to complete the sale to Pancon and emerge from Chapter 11 in about 75 day. Temecula, Calif.-based Sunstone provides precision metal stamping and insert injection moldings. Pancon is backed by Milestone Partners.

PRESS RELEASE
Sunstone Components Group, a leading provider of precision metal stamping and insert injection moldings, today announced that it has signed a Letter of Intent (LOI) with Pancon Corporation to sell substantially all of the Company’s assets.

Headquartered in Stoughton, Mass., Pancon Corporation manufactures custom and standard connectors that are used in power and signal applications and multilayer polymer capacitors across varied industries, including automotive. Pancon also has the strong backing of its private equity owner, Milestone Partners.
To facilitate the sale and establish a process for the receipt of higher and better bids, the Company has consented to the involuntary Chapter 11 petitions filed against it on April 5, 2013. Sunstone Components Group is expected to complete the sale and emerge from Chapter 11 in approximately 75 days.
“This transaction is a positive development for our company, our customers and our employees,” said Sunstone Components Group Chairman and CEO Brad Adams. “We are pleased to have attracted a strong strategic partner for our business with the resources necessary to secure a strong future for our company.
“After careful consideration, we have decided to consent to the involuntary Chapter 11 proceedings. The Chapter 11 process is essentially a tool that will allow us to complete the sale swiftly and ensure a smooth transition.”
The Company also announced that in addition to having continuing availability under its existing facility with Comerica, it has obtained commitments for approximately $220,000 in debtor-in-possession (DIP) financing, pending Court approval. As a result, the Company has the availability of approximately $2.2 million to meet its ongoing obligations to customers, suppliers and employees during the brief Chapter 11 and sale process.
Customers should see no changes while the company completes the sale of its business. Sunstone Components Group does not intend to reduce its workforce as a result of the filing, and employees will continue to work their usual schedules and receive normal compensation and benefits, pending routine Court approval.
“Throughout the sale process and beyond, our daily operations will continue without interruption,” Adams said. “We will continue to manufacture and deliver the high-quality, mission-critical components our customers require. It will be business as usual while we complete the sale.”
On May 2, 2013, the Company consented to involuntary Chapter 11 petitions filed against it in the U.S. Bankruptcy Court for the Central District of California in Riverside. The Company is represented by Landau Gottfried & Berger LLP in its Chapter 11 proceedings.
About Sunstone Components Group
Sunstone Components Group was originally established in 1981 as Solid State Stamping (S3). In April 2008, Solid State Stamping acquired Molding International and Engineering (MIE), an insert molder based in Temecula, Calif. At that time, Solid State Stamping changed its name to Sunstone Components Group, and MIE along with S3 began operating side by side. Today the Company provides precision metal stamping and insert molding and is a leading manufacturer of complex and mission critical components.

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CCMP Capital Advisors has agreed to buy Pure Gym. Financial terms weren’t announced. Pure Gym is an affordable gym operator in the U.K. Canaccord Genuity provided financial advice to Pure Gym.

PRESS RELEASE

CCMP Capital Advisors, LLC (“CCMP”) today announced that it has signed a definitive agreement under which affiliates of CCMP will acquire Pure Gym Ltd (“Pure Gym”), the leading affordable gym operator in the United Kingdom. The agreement, in partnership with current management, will support Pure Gym’s aggressive expansion drive across the UK. Financial terms of the transaction were not disclosed.

Founded in 2009, Pure Gym is the market leader in the rapidly growing low-cost segment of the £4 billion UK gym

market. With 45 locations and more than 240,000 members, Pure Gym offers a highly compelling customer value

proposition, with the latest in high quality facilities and equipment, low upfront and monthly membership rates,

and no fixed contract. CCMP will support Pure Gym’s rollout strategy which will include the opening of an

additional 40 new gyms over the next 12 months.

Thomas Walker, Managing Director at CCMP’s London affiliate, said: “We’re delighted to be partnering with

management to accelerate the growth of Pure Gym, an outstanding business with tremendous customer appeal.

Under CEO Peter Roberts’ vision and guidance, the Company has secured its leadership position by offering a

unique combination of a premier gym experience at an affordable price and on flexible terms. Given Pure Gym’s

relatively low market penetration and the widespread appeal of a high-quality low-cost fitness option, we believe

there is a significant opportunity to expand Pure Gym aggressively across the UK. We look forward to bringing our

successful experience in growing consumer-facing businesses to bear as Pure Gym enters its next phase of

development.”

Peter Roberts, Founder and Chief Executive Officer of Pure Gym, commented: “I speak for the entire management

team when I say that we are thrilled to partner with CCMP as we work to seize the exciting opportunities ahead for

Pure Gym. With their support and experience in building successful consumer businesses, Pure Gym will be well-

positioned to execute on our targeted expansion plans, while continuing to provide an outstanding experience for

our members.”

The transaction is expected to close in the second quarter of 2013, subject to customary closing conditions.

Canaccord Genuity acted as financial advisor and Travers Smith acted as legal advisor to Pure Gym, and Liberty

Corporate Finance acted as advisor to Pure Gym’s management. Kirkland & Ellis acted as legal advisors to CCMP.

 

About Pure Gym

Pure Gym was established in 2008 by leisure entrepreneur Peter Roberts, who has been a key driving force behind the growth of the affordable fitness sector, with the popularity of low cost gyms continuing to rise. The Company is known for not burdening its members with contractual commitments as it offers membership from £10.99 a month with no fixed contract, and members have access to gyms 24 hours a day, seven days a week.

CCMP Capital Advisors, LLC (“CCMP”) specializes in upper-middle market buyouts and growth equity investments of $100 million to $500 million in the U.S. and Europe. CCMP focuses on generating alpha through the operational transformation of its portfolio companies. With offices in New York, Houston and London, CCMP invests in four primary industries: Consumer, Industrial, Energy and Healthcare. Selected investments under management include: ARAMARK Corporation, Chaparral Energy, Edwards Group, Generac Power Systems, Infogroup, Jetro Holdings, LHP Hospital Group, Medpace, Milacron, Newark Energy and Ollie’s Bargain Outlet.

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Electra Partners said Friday that it has received a $1.3 billion binding offer for Allflex Holdings. BC Partners is the buyer, Electra says. Allflex makes and distributes plastic and electronic animal identification tags. The sale will generated gross proceeds of $630.5 million for Electra Partners’ clients, including Electra Private Equity which will receive $398 million on the close of the deal. This represents a gross return of 15x original cost and an IRR of 28%. Rothschild advised Electra Partners and Allflex.

PRESS RELEASE

Electra Partners today announces it has received a binding offer for Allflex Holdings (“Allflex”), the world’s leading manufacturer and distributor of plastic and electronic animal identification tags, from funds advised by BC Partners.
The offer is subject to consultation with the relevant works council in France and certain regulatory approvals. If the offer is accepted, and reflecting current exchange rates, acceptance of the offer will generate gross proceeds of US$630.5 million to clients of Electra Partners. This includes Electra Private Equity PLC who will receive US$398 million (£256.7 million) on closing, representing a gross return of 15x original cost (including income) over the 14 years of investment; an IRR of 28%.
Electra Partners and Allflex were advised by Rothschild.
Electra Partners first invested in Allflex in 1998 investing US$46 million in the US$160 million buyout of the company. The business has since been refinanced a number of times such that total cumulative proceeds receivable by Electra Partners’ clients after completion of this transaction will amount to US$835 million.
Over the 14 years of Electra Partners’ ownership, Allflex has seen strong organic and acquisitive growth driven by increased focus on food chain traceability and mandatory regulations controlling the spread of animal diseases. To capitalise on increasing demand, Allflex introduced new products, extended tagging to more species, and expanded into new geographical markets such as China and Africa.
David Symondson, Deputy Managing Partner at Electra Partners, said:

“Allflex is an excellent business which has proved to be a first-class investment for Electra Partners delivering strong returns at each of the refinancings over the years and now at the sale. Over this time, the company has become the leading global provider of animal identification tags with an expanded product range which includes RFID and tissue sampling tags.

“As with the sale of Capital Safety Group, which we sold last year for a 6.5x multiple, Allflex is another proven example of Electra Partners creating substantial value for clients by transforming international businesses into truly global leaders in their fields.”

David Symondson and Rhian Davies were responsible for the investment in Allflex. 

Electra Private Equity PLC has already issued a statement in relation to the impact of the sale of its interest in Allflex.

The sale follows a busy start to 2013 for Electra Partners in which it has announced the realisation of its investment in esure, which generated a 3x return, and three new investments: UBM Data Services (now called AXIO Data Group), a portfolio of secondary private equity funds, and CALA group.

Electra Partners refers to Electra Partners LLP acting on behalf of Electra Private Equity PLC and other clients.

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Mainsail Partners has made a $6.5 million equity investment in Netchemia. Prairie Village, Kan.-based Netchemia provides cloud-based talent management software specifically developed for K-12 school districts and institutions.

PRESS RELEASE

Netchemia LLC, the leading provider of cloud-based talent management software specifically developed for K-12 school districts and institutions, announced an equity investment from Mainsail Partners to support the company’s growth plans.
The investment is part of a long-term, collaborative partnership that will allow Netchemia to tap Mainsail’s deep operational expertise and further bolster its market position. Mainsail is a San Francisco growth-equity firm focused on backing “bootstrapped” companies that have not previously taken outside capital.
The majority of the current $6.5 million investment will be used to accelerate Netchemia’s growth and enhance and expand the company’s product offering. More than 1,100 K-12 school districts and institutions in 42 states — ranging in size from fewer than 100 students to those with tens of thousands of students — use Netchemia’s TalentEd cloud-based software-as-a-service (SaaS) platform.
Netchemia, which was founded in the Kansas City area in 2001 and works exclusively in K-12 education, is one of several growing startups in the Midwest’s “Silicon Prairie” region.
“We are excited to announce a partnership with Mainsail and the next phase of our company’s growth,” Netchemia co-founder and CEO Carlos Antequera said. “This investment will allow Netchemia to accelerate its product development and team-building plans. It was important for us to find an investor who shared our vision and had extensive company-building experience.”
Netchemia’s TalentEd K-12 Strategic Talent Management Suite delivers simple, innovative and affordable management solutions for applicant tracking and hiring (TalentEd Recruit & Hire) and performance evaluation (TalentEd Perform) without any hardware to buy or software to install.
TalentEd applications are flexible and fully customizable to empower school districts of all kinds and sizes to improve efficiencies, reduce costs, increase transparency and ultimately achieve positive educational impacts.
“Carlos and his team recognized the opportunity to leverage technology to improve the process of managing talent for school administrators,” said Stephen Wolfe, a Mainsail Partners principal. “We have a great deal of respect for entrepreneurs like Carlos who have proven they can grow their businesses rapidly and do so profitably. We look forward to working with the team to build the leading K-12 talent management platform.”
“As the value of talent management becomes more evident to educators, there is increased momentum in the marketplace to make a difference,” added Antequera. “We recognize the enormous importance of talent management in education; that finding, hiring and developing the best teachers and school leaders is fundamental to improved schools and high student achievement. It is a key part of our current national discussion over education.”
In addition to reinforcing the highly-collaborative, results-oriented experience to a rapidly growing customer base, the partnership with Mainsail provides Netchemia the freedom to continue expanding within its product development, client success, sales, marketing, and executive teams, Antequera said.
About Netchemia
Netchemia is a leading provider of cloud-based talent management software specifically developed for K-12 educational organizations. We believe that by providing school districts with intuitive software to recruit, hire, develop and retain the best teachers and school leaders, we can help them dramatically affect student achievement.
Netchemia’s TalentEd K-12 Strategic Talent Management Suite delivers simple, innovative and affordable management solutions for applicant tracking and hiring (TalentEd Recruit & Hire) and performance evaluation (TalentEd Perform) to more than 1,100 educational organizations across the nation. TalentEd frees school leaders to focus on what’s important — finding and developing the best teachers and staff and helping them grow. To learn more, visit www.netchemia.com.
About Mainsail Partners
Mainsail Partners is a leading growth equity firm that invests in successful “bootstrapped” businesses and builds them into great companies. Mainsail, based in San Francisco, makes a select number of investments each year and leverages the deep operational expertise of its team to add value to its portfolio companies. The firm has raised over $350 million in committed capital from leading institutions, endowments, executives and entrepreneurs. Two of Mainsail’s portfolio companies were ranked on the 2012 Inc. 500|5000 list of fastest-growing private companies in the U.S. For more information, visit www.mainsailpartners.com.

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A.T. Kearney said Thursday that it named Robert Haas to lead the firm’s private equity practice in the Americas. Haas also has responsibility for A.T. Kearney’s M&A practice in the Americas, the firm said.

PRESS RELEASE

Global management consulting firm A.T. Kearney today announced that Robert (Bob) Haas will lead A.T. Kearney’s Private Equity Practice in the Americas.
A.T. Kearney has successfully supported private equity funds and their portfolio companies since the private equity industry began, bringing not only PE expertise, but industry and deep functional expertise to its clients. Under Mr. Haas’s leadership, A.T. Kearney will leverage its unparalleled capabilities in corporate strategy, revenue growth and operational improvement to help private equity funds make attractive investments, generate profit growth in their portfolios, and deliver superior returns to their investors.
Daniel Mahler, lead partner for the Americas notes, “Bob is uniquely qualified for this role based on his vast experience driving profit growth for companies in a wide variety of industries, as well his expertise in private equity and corporate M&A.”
According to Mr. Haas, “The changing dynamics of the Private Equity industry fit well with A.T. Kearney’s unique capabilities. A.T. Kearney’s deep industry knowledge and operations transformation experience deliver an unmatched combination of strategic insights and tangible EBITDA improvements to our clients.”
Mr. Haas began his career with A.T. Kearney in 1996 and was elected to partner in 2003. In addition to his expertise in private equity, he has served global clients in the consumer goods, healthcare, high-tech and financial services industries on strategic and transformational issues such as corporate strategy, M&A, and enterprise transformation and restructuring. In addition to Private Equity, Mr. Haas has responsibility for the Mergers & Acquisitions Practice in the Americas.
Mr. Haas is based in A.T. Kearney’s New York office.
About A.T. Kearney
A.T. Kearney is a global team of forward-thinking, collaborative partners that delivers immediate, meaningful results and long-term transformative advantage to clients. Since 1926, we have been trusted advisors on CEO-agenda issues to the world’s leading organizations across all major industries and sectors. A.T. Kearney’s offices are located in major business centers in 39 countries.
To learn more about how A.T. Kearney can deliver immediate results and growing advantage to the private equity industry and its key stakeholders, please visit: http://www.atkearney.com/private-equity.

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