Lumia Capital seeks second fund


This post is by Marina Temkin from Pe Hub Blog: Firms & Funds


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Lumia Capital, a San Francisco, California-based expansion-stage venture firm, is raising a second fund, according to a filing with the SEC. First sale was not reported and fund target was not set.

The firm invests in internet and software companies with a focus on SaaS, mobile, cloud computing, infrastructure, and big data. It typically writes checks between $3 million and $30 million, backing companies with greater than $10 million in annual revenue.

Alleghany Capital acquires CID Performance Tooling


This post is by Iris Dorbian from PE Hub Blog: Buyout Deals


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Alleghany Capital has acquired a majority stake in Saco, Maine-based CID Performance Tooling, a maker of high-performance solid carbide end mills. No financial terms were disclosed. Also, Alleghany Capital has formed Precision Cutting Technologies, a new holding company for its subsidiaries in the machine tool and consumable cutting tool sectors.

PRESS RELEASE

NEW YORK, June 24, 2019 /PRNewswire/ — Alleghany Capital Corporation (“Alleghany Capital”), a wholly-owned subsidiary of Alleghany Corporation, today announced the formation of Precision Cutting Technologies, Inc. (“Precision Cutting Technologies”) and the acquisition by Precision Cutting Technologies of a majority interest in Coastal Industrial Distributors, LLC, dba CID Performance Tooling (“CID”). Headquartered in Saco, Maine, CID is a leading manufacturer of high-performance solid carbide end mills. Precision Cutting Technologies is Alleghany Capital’s new holding company for its subsidiaries in the machine tool and consumable cutting tool sectors, which include Bourn & Koch, Inc. (“Bourn & Koch”),

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Evergreen funds WorkForce Software


This post is by Iris Dorbian from PE Hub Blog: Buyout Deals


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Evergreen Coast Capital Corp, the tech-focused private equity arm of Elliott Management Corporation, has made a “significant” investment in WorkForce Software, a provider of cloud-based workforce management solutions. No financial terms were disclosed. As a result of the transaction, Evergreen will become equal partners with WorkForce Software’s majority investor Insight Partners.

PRESS RELEASE

LIVONIA, Mich., June 24, 2019 (GLOBE NEWSWIRE) — WorkForce Software®, a leading global provider of cloud-based workforce management solutions, announced today a significant equity investment from affiliates of Evergreen Coast Capital Corp. (“Evergreen”), the technology-focused private equity arm of Elliott Management Corporation. With the investment, Evergreen will become equal partners with Insight Partners, which has been the majority investor in WorkForce Software since 2014. Terms of the transaction were not disclosed.

Founded in 1999, WorkForce Software is making work easy for the connected workforce around the globe. The company’s cloud-based solutions enable enterprise

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Palladin acquires 13 Pure Barre studios


This post is by Iris Dorbian from PE Hub Blog: Buyout Deals


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Palladin Consumer Retail Partners has acquired 13 Pure Barre studios. No financial terms were disclosed. Backed by Xponential Fitness, Pure Barre is a fitness franchise.

PRESS RELEASE

BOSTON and NEW YORK, June 24, 2019 /PRNewswire/ — Palladin Consumer Retail Partners, LLC (“Palladin” or “PCRP”) (pcrp.com) announces the acquisition of 13 Pure Barre studios and a management agreement for one studio under PB Metro, LLC (“PB Metro” or the “Company”) in partnership with the franchisees of the Pure Barre studios (purebarre.com) and Pure Barre Franchising, LLC which is owned by Xponential Fitness, LLC (“Xponential”) the franchisor.

PB Metro has been formed to offer Pure Barre clientele in the New York metropolitan market the ability to utilize multiple locations in the region, to grow the footprint and presence of the brand, to provide associates with additional career opportunities and to continue sharing the Pure Barre workout and sense of community.

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Lightspeed Venture Partners raises $2.11 bln of new capital


This post is by Mark Boslet from Pe Hub Blog: Firms & Funds


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Lightspeed Venture Partners has raised $2.11 billion of new capital, according to a filling with the SEC.

The capital includes $752 million for Lightspeed Venture Partners XII and $1,362 million for Lightspeed Venture Partners Select III, the filing shows. The funds attracted commitments from 148 limited partners.

The filing is available here.

 

 

 

VC-backed Phreesia files to go public


This post is by Iris Dorbian from PE Hub Blog: PE-Backed IPOs


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New York-based Phreesia, a healthcare software company, has filed for an IPO. The number of shares that will be sold as well as the stock’s pricing terms have yet to be set. The company plans on trading the stock on the New York Stock Exchange under the ticker symbol “PHR.” J.P. Morgan, Wells Fargo Securities and William Blair are the lead underwriters. Phreesia’s backers include LLR Partners, HLM Venture Partners, Polaris Partners, Ascension Ventures, Echo Health Venture and Blue Cross Blue Shield Venture Partners.

PRESS RELEASE

NEW YORK, June 24, 2019 /PRNewswire/ — Phreesia announced it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (“SEC”) relating to a proposed initial public offering of shares of its common stock.

The number of shares to be offered and the price range for the proposed offering have not yet been determined. The

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TPG to invest in Harlem Capital Partners


This post is by Iris Dorbian from PE Hub Blog: Buyout Deals


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TPG has agree to acquire make an investment in Harlem Capital Partners, an early-stage venture firm. No financial terms were disclosed.

PRESS RELEASE

San Francisco and Fort Worth, Texas – June 24, 2019 – TPG, a global alternative asset firm, today announced it has signed a definitive agreement to make a non-controlling strategic investment in Harlem Capital Partners (HCP), an early-stage venture capital firm. In connection with its investment in the company, TPG will commit capital to HCP Fund I. The investment will provide HCP access to resources to help scale its business, enhance operating capabilities, and support its portfolio. Terms of the investment were not disclosed.

Led by Managing Partners Henri Pierre-Jacques and Jarrid Tingle, HCP is committed to backing minority and women founders across industries in the United States. The firm is on a mission to change the face of entrepreneurship by investing in 1,000 diverse founders over

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Aurora acquires Petroleum Service Corporation


This post is by Iris Dorbian from PE Hub Blog: Buyout Deals


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Aurora Capital Partners has acquired Petroleum Service Corporation, a provider of product handling and site logistics services for the petrochemical, refining, midstream and marine transportation sectors. No financial terms were disclosed. Rothschild & Co. served as financial adviser to SGS and PSC, while Piper Jaffray & Co. did likewise for Aurora.

PRESS RELEASE

LOS ANGELES, June 24, 2019 /PRNewswire/ — Aurora Capital Partners (“Aurora”), a leading middle-market private equity firm, today announced the acquisition of Petroleum Service Corporation (“PSC” or the “Company”). PSC is the North American leader in product handling and site logistics services for the petrochemical, refining, midstream and marine transportation end markets. PSC is a subsidiary of SGS (SGSN:SW), the world’s largest inspection, verification, testing and certification company.

“PSC is an excellent fit with Aurora’s investment strategy. Over the past 65+ years, PSC has become the established leader in product handling and site logistics across a

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L Catterton to buy Del Frisco’s for about $650 mln


This post is by Iris Dorbian from PE Hub Blog: Buyout Deals


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L Catterton has agreed to acquire Irving, Texas-based Del Frisco’s Restaurant Group, a restaurant operator, for about $650 million. Piper Jaffray & Co served as financial adviser to Del Frisco’s and its board of directors with Kirkland & Ellis LLP providing legal counsel. And, Credit Suisse served as financial adviser to L Catterton while Gibson Dunn LLP served as legal adviser.

PRESS RELEASE

IRVING, Texas, June 24, 2019 — Del Frisco’s Restaurant Group, Inc. (the “Company” or “Del Frisco’s”) (NASDAQ: DFRG) and L Catterton, the largest and most global consumer-focused private equity firm, today announced that they have entered into a definitive agreement under which affiliates of L Catterton (the “Purchaser”) will acquire the Company in an all cash transaction valued at approximately $650 million. Del Frisco’s stockholders will receive $8.00 per share, representing a 22% percent premium to the closing share price on December 19, 2018, the last

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Equistone Partners to buy Vulcain Ingénierie


This post is by Luisa Beltran from PE Hub Blog: Buyout Deals


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Equistone Partners Europe said June 24 that it is buying Vulcain Ingénierie. NiXEN Partners, Initiative & Finance are the sellers. Financial terms weren’t announced. Vulcain Ingénierie is a French engineering consultancy group serving the energy and pharmaceuticals sectors.

PRESS RELEASE

Equistone Partners Europe enters into exclusive negotiations with NiXEN Partners and Initiative & Finance for the acquisition of Vulcain Ingénierie

Paris, 24 June 2019 – Equistone Partners Europe (“Equistone”), one of Europe’s leading investors in mid-market buyouts, today announces it has reached an exclusive negotiation agreement with NiXEN Partners, Initiative & Finance and the management team for the acquisition of Vulcain Ingénierie (“the Group”). The completion of the deal remains subject to the approval of employees’ representatives and relevant authorities.

Founded in 1998, Vulcain Ingénierie is a leading French engineering consultancy group serving the energy and pharmaceuticals sectors. Thanks to its specialist positioning, Vulcain Ingénierie has grown into a

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Congruex buys Terra Technologies


This post is by Luisa Beltran from PE Hub Blog: Buyout Deals


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Congruex said June 24 that it acquired Terra Technologies LLC. Financial terms weren’t announced. Terra, of McHenry, Illinois, is a specialized civil engineering and construction firm. Congruex is backed by Crestview Partners.

PRESS RELEASE

CRESTVIEW PARTNERS-BACKED CONGRUEX ACQUIRES TERRA TECHNOLOGIES, LLC

— Terra Technologies is Congruex’s fifth acquisition —

— Further positions Congruex as one of the largest end-to-end telecom engineering and construction platforms in the United States —

Boulder, CO and McHenry, IL, June 24, 2019 – Congruex, a national end-to-end provider of design, engineering, construction, construction management and maintenance services to broadband service providers, today announced the acquisition of Terra Technologies, LLC. Financial terms of the transaction were not disclosed.

Founded in 2011, privately-held Terra Technologies is headquartered in McHenry, IL. The company is a specialized civil engineering and construction firm with a deep expertise in legal mandate projects involving the mandatory relocation of existing telecommunication lines in

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Main Capital invests in Onventis


This post is by Luisa Beltran from PE Hub Blog: Buyout Deals


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Main Capital said June 24 that it acquired a stake in Onventis. Financial terms weren’t announced. Onventis provides a cloud platform for e-procurement.

PRESS RELEASE
Main Capital acquires a majority stake in Onventis
Düsseldorf/Stuttgart, 24th of June 2019
Main Capital, in conjunction with the Onventis management team, has acquired a strategic stake in Onventis, a cloud-based platform provider for e-procurement. Through its rich set of functionalities, Onventis’s software offers both buyers and suppliers a user-friendly and fully-integrated suite to connect, automate and control the entire chain from sourcing to payment.
Founded in 2000 with headquarters in Stuttgart, Onventis has quickly grown into a leading, open procurement solution for the German Mittelstand. The Company’s offering steers procurement processes of direct and indirect materials in strategic and operational procurement. The Onventis procurement network channels more than Euro 5.5 billion purchasing volume per year for approx. 350,000 users and 35,000 suppliers globally.

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Hamilton Lane Co-Investment Fund IV raises $1.7 bln


This post is by Luisa Beltran from Pe Hub Blog: Firms & Funds


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Hamilton Lane said June 24 that its latest co-investment fund closed on about $1.7 billion. Hamilton Lane Co-Investment Fund IV will provide direct equity capital into buyout and growth transactions alongside GPs.

PRESS RELEASE

Hamilton Lane Closes Latest Co-Investment Fund above Target

The firm’s fourth co-investment fund is the largest to-date, with approximately $1.7B in total commitments from investors around the world

Bala Cynwyd, Penn. – June 24, 2019 – Hamilton Lane (NASDAQ: HLNE) today announced the final closing of Hamilton Lane Co-Investment Fund IV (“the Fund”). The Fund closed above its target, with approximately $1.7B in total commitments from a wide range of global investors including public pensions, sovereign wealth funds, Taft-Hartley pension plans, endowments, foundations, high-net-worth individuals and other financial institutions.

This fund represents the fourth dedicated vehicle of its kind and is a key component of Hamilton Lane’s co-investment activity globally. The Fund’s strategy

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Align Capital buys majority of E Source


This post is by Luisa Beltran from PE Hub Blog: Buyout Deals


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Align Capital Partners said June 24 that it acquired a majority of E Source. Financial terms weren’t announced. E Source, of Boulder, Colorado, provides market intelligence services for utility employees and senior leaders across North America.

PRESS RELEASE

Align Capital Partners to Help Power E Source

CLEVELAND and DALLAS, June 24, 2019 – Align Capital Partners (“ACP”) is pleased to announce the majority acquisition of E Source (the “Company”), a leading provider of customer-focused research, data, and consulting for utilities and their partners.  Headquartered in Boulder, Colorado, E Source provides subscription-based market intelligence services for thousands of utility employees and senior leaders across North America.  The Company’s unique insights into key areas of demand side management, customer experience, and marketing, help utilities adapt to ever-changing business and market conditions. Financial terms of the transaction were not disclosed.

 

“ACP’s investment is a significant milestone for our company, our

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