Summit Partners exits InfoArmor with $525 mln sale to Allstate


This post is by from PE Hub Blog: PE-Backed Mergers and Acquisitions


Click here to view on the original site: Original Post




Allstate Corp has completed its $525 million buy of InfoArmor. The deal was announced in August. Summit Partners invested in InfoArmor in 2016. InfoArmor, of Scottsdale, Arizona, provides employee protection and cyber intelligence services.

PRESS RELEASE

Allstate Accelerates Expansion into Identity Protection with Acquisition of InfoArmor
Addresses emerging risks facing consumers
NORTHBROOK, Ill., Aug. 27, 2018 – The Allstate Corporation (NYSE: ALL) has agreed to acquire InfoArmor, Inc., a leading provider of employee identity protection to more than 1 million employees and their family members at over 1,400 firms, including more than 100 of the Fortune 500 companies. The privately held company, headquartered in Scottsdale, Arizona, will be purchased for $525 million in an all-cash transaction expected to close later this year.
“Consumers are increasingly at risk of having their digital identities compromised. Last year there were over 16 million victims of identity fraud, which resulted in over

Continue reading “Summit Partners exits InfoArmor with $525 mln sale to Allstate”

Allstate to acquire SquareTrade for about $1.4 bln


This post is by Iris Dorbian from PE Hub Blog: PE-Backed Mergers and Acquisitions


Click here to view on the original site: Original Post




The Allstate Corp has agreed to buy San Francisco and London-based SquareTrade, a consumer protection plan provider, for about $1.4 billion. The sellers included Bain Capital Private Equity and Bain Capital Ventures. The deal is expected to close in January 2017. Ardea Partners, Lazard and Willkie Farr & Gallagher advised Allstate in the transaction while Financial Technology Partners and Ropes & Gray advised SquareTrade.

PRESS RELEASE

NORTHBROOK, Ill., Nov. 28, 2016 – The Allstate Corporation (NYSE: ALL) has agreed to acquire SquareTrade, a rapidly growing consumer protection plan provider that distributes through many of America’s major retailers. The privately held company will be purchased for approximately $1.4 billion from a group of shareholders, including Bain Capital Private Equity and Bain Capital Ventures, in a transaction expected to close in January 2017.

“Allstate’s consumer-focused strategy of providing unique products will be further enhanced with the acquisition of

Continue reading “Allstate to acquire SquareTrade for about $1.4 bln”

Market Recap Aug 4, 2015


This post is by Mark Hanna from Stock Trading To Go


Click here to view on the original site: Original Post




Listless trading continued as a plunge in Apple (AAPL) after it fell below its 200 day moving average caught most people’s focus. Some comments out of a Fed member also caused some consternation but losses were mild as the S&P 500 fell 0.22% and the NASDAQ 0.19%.

The major averages briefly extended losses after Atlanta Fed President Dennis Lockhart, a voting member, told the Wall...<br/>

Read the full article at StockTradingToGo.com

Alizé Pharma III collects $1.94 mln


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


Click here to view on the original site: Original Post




Alizé Pharma III SAS, a developer of biopharmaceutical products that treat metabolic disorders and rare diseases, has raised $1.94 million in funding. The investors included Sofimac Partners via their FCPI Emergence Innovation 1 seed capital fund, Octalfa, Sham Innovation Santé, Rhône-Alpes Création, Crédit Agricole Création, CEMA and TAB Consulting.

PRESS RELEASE

Lyon, France, March 17, 2015 – Alizé Pharma III SAS, an Alizé Pharma company specialized in the development of biopharmaceutical products to treat metabolic disorders and rare diseases, today announces that it has raised €1.8 million (USD $1.94 million) in a first financing round.

The funding round was supported by a syndicate of investors that included Sofimac Partners via their FCPI Emergence Innovation 1 seed capital fund, Octalfa, Sham Innovation Santé, Rhône-Alpes Création, Crédit Agricole Création, CEMA and TAB Consulting.

Alizé Pharma III will use the funds to conduct a pharmacology and lead optimization program on a family of peptides with anabolic effects on the bone. The I-HBD1 program will be performed in collaboration with Alizé Pharma III’s US partner New Paradigm Therapeutics Inc., a spin-off from the University of North Carolina at Chapel Hill founded by Dr. David Clemmons. The aim of the program is to select a drug candidate that will enter development for the treatment of osteoporosis and other diseases with impaired bone metabolism in 2016.

According to the International Osteoporosis Foundation, over 200 million patients worldwide live with osteoporosis and the disease causes almost 9 million fractures each year. The global market for osteoporosis drugs was estimated at over $8.3 billion in 2014, with significant growth expected in the coming years.

Continue reading “Alizé Pharma III collects $1.94 mln”

Allstate Investments expands team with a hire and a promotion


This post is by Iris Dorbian from PE Hub Blog: Human Resources


Click here to view on the original site: Original Post




Allstate Investments has hired Russell K. Mayerfeld as a senior managing director and promoted Peter Keehn to managing director of private equity investing. Mayerfeld is the former managing director of investment banking at UBS and its predecessors while Keehn first joined Allstate in 2003 a director to head the company’s then $450 million alternative assets portfolio.

PRESS RELEASE

NORTHBROOK, Ill., Oct. 14, 2014 /PRNewswire/ — The Allstate Corporation (NYSE: ALL) has expanded its senior leadership team in investments. Russell K. Mayerfeld has joined Allstate as a senior managing director, reporting to Judith P. Greffin, chief investment officer. Peter Keehn, CFA, has been promoted to managing director, private equity investing, reporting to Mayerfeld.

“We expect to capture additional higher-returning investment opportunities by leveraging Russ’ leadership, broad expertise and extensive experience,” Greffin said. “We have an excellent track record, and our team is in a strong position to increase the breadth and size of Allstate’s portfolio in these asset classes.”
Russ Mayerfeld

Mayerfeld oversees approximately $10 billion of Allstate’s investments, including private equity, infrastructure and real assets, real estate and commercial mortgage loans. Throughout his career, he has worked extensively with insurance companies and other financial institutions. Recently, Mayerfeld served as an independent consultant to private equity funds and corporations and as a board member for private and public companies. Mayerfeld was managing director, investment banking of UBS LLC and its predecessors from 1997 to 2003, and managing director, investment banking of Dean Witter Reynolds Inc. from 1988 to 1997. He holds an MBA from Harvard University and a bachelor’s degree from the University of Illinois.

“I am delighted to join Allstate Investments,” Mayerfeld said. “I look forward to building on the success of the team to position Allstate as an even more dynamic investor in this evolving sector. We will leverage the skills and experience of our alternative investment professionals, as well as the breadth and scale of the Allstate enterprise, to source attractive opportunities. With our size, flexibility and creativity, we will continue to help our portfolio companies achieve their objectives.”
Allstate will expand its alternative investment portfolio over the next several years, with much of the growth coming from direct investments. “Allstate will continue to be a fund investor while leveraging its relationships to generate additional direct investments. Ultimately, this dual approach is designed to produce more favorable risk-adjusted returns for the benefit of Allstate’s shareholders and policyholders,” Mayerfeld said.

Peter Keehn
Keehn will continue to lead Allstate’s global private equity investing group, which includes the infrastructure and real assets team, managing a portfolio of approximately $3 billion. Recently, he shifted the focus of Allstate’s private equity activities to include more direct investing and co-investments. In 2007, Keehn established Allstate’s London office to enhance the firm’s global perspective and gain greater access to investment opportunities around the world. He joined Allstate in 2003 as a director to head the company’s then $450 million alternative assets portfolio. Earlier in his career, he was a principal at Waud Capital Partners and a director at Northwestern Investment Management Co. Keehn has an MBA from Northwestern University and a bachelor’s degree from Brown University. He is a chartered financial analyst. Keehn serves on several private equity advisory boards and has been a director of numerous private companies and nonprofit organizations.

“I am enthusiastic about the opportunity to continue expanding Allstate’s private equity investments and further developing the expertise of our portfolio team,” Keehn said. “We see strong opportunities throughout the world in this asset class. It’s an important component in the proactive management of Allstate’s portfolio to achieve attractive returns for the benefit of our policyholders and shareholders.”

The Allstate Corporation (NYSE: ALL) is the nation’s largest publicly held personal lines insurer, protecting approximately 16 million households from life’s uncertainties through its Allstate, Encompass, Esurance and Answer Financial brand names and Allstate Financial business segment. Allstate is widely known through the slogan “You’re In Good Hands With Allstate®.” The Allstate brand’s network of small businesses offers auto, home, life and retirement products and services to customers in the United States and Canada. In 2013, The Allstate Foundation, Allstate, its employees and agency owners gave $29 million to support local communities. Allstate employees and agency owners donated 200,000 hours of service across the country.

Element Partners invests in Calgarys’ Detechtion Technologies


This post is by Kirk Falconer from PE Hub Blog: Venture Capital Deals


Click here to view on the original site: Original Post




Calgary-based Detechtion Technologies, a specialist in performance optimization and fleet management technology for natural gas compression fleets, has secured an undisclosed strategic investment from U.S. growth equity firm Element Partners, which is focused on opportunities in energy, environmental and industrial sectors. Concurrent with the deal, Detechtion announced the appointment of Chris Smith, the former CEO of Cygnet Software, as the company’s new president and CEO, and Gerry Conroy, as senior vice president of products and portfolio. Company founder Brian Taylor, previously president and CEO, will become chairman of the board of directors.

PRESS RELEASE

Detechtion Technologies Announces Strategic Investment From Element Partners

CALGARY, Alberta and HOUSTON, Nov. 21, 2013 /CNW/ – Detechtion Technologies today announced a significant investment from Element Partners, a growth equity fund focused on energy and industrial technology companies.

Detechtion Technologies is the world’s leading provider of performance optimization and fleet management technology for natural gas compression fleets. Detechtion’s flagship product, Enalysis™, provides software-based optimization and fleet monitoring services for approximately 20% of the active compression horsepower in North America and manages assets for fifteen of the top twenty-five natural gas producers on the continent. Detechtion has historically provided customers with over five times return on investment. These results are achieved through a unique value proposition of increasing natural gas throughput while simultaneously reducing fuel and maintenance costs, improving equipment uptime and reliability, and assuring environmental compliance.

Concurrent with the investment, the company is also announcing the addition of two experienced industry executives to the senior management team. Chris Smith joins as the company’s President and CEO and Gerry Conroy joins the company in the newly created role of Senior Vice President of Products and Portfolio. Company founder Brian Taylor, previously President and CEO, will become Chairman of the Board of Directors and will continue as a significant investor in the company. Andrew Miles will continue to lead the Company’s operations as Senior Vice President of Operations.

Chris Smith was formerly CEO of Cygnet Software, a software company focused on natural gas SCADA products and services. Cygnet produced strong organic growth during Chris’ leadership, prior to a strategic exit in 2011 to Weatherford International. Chris brings to Detechtion over 20 years of high-level enterprise software, services and international manufacturing experience. Chris commented on joining the company “I am delighted to be joining a proven operations leader in Detechtion Technologies. I look forward to working with our strong customer base and valuable employees to bring improved efficiency and operational excellence to field compression and fleet management.” Gerry Conroy was most recently VP of Global Products at P2 Energy Solutions, and helped grow the business to be one of the largest independent software companies focused on oil and gas. Prior to this, Gerry’s experience included roles leading corporate development efforts, as well as operational, finance, and technology roles at Conoco, Halliburton, Western Gas Resources, and Snyder Oil.

Brian Taylor commented on the transaction, “Our team has built a tremendous company over the past 15 years. We have achieved this by setting high standards for technical competence, product innovation and customer service. We are excited to team up with partners that share those values — Chris, Gerry, and the Element team will help develop Detechtion through the next stage in its evolution.”

Michael DeRosa, Managing Director with Element Partners, added, “We are thrilled to be partnering with Detechtion Technologies. We have enjoyed getting to know Brian and the Detechtion team over the past few years and have been impressed with their record of providing algorithm-based recommendations and fleet management technology to the oil and gas industry. We firmly believe that Detechtion has significant growth potential through broadening its product offering and expanding further into the US market. We look forward to working with Brian, Chris, Gerry and the Detechtion team to build on the company’s momentum.”

About Detechtion Technologies
Detechtion Technologies is the world leader in compression optimization technologies and fleet management services. Currently, Detechtion provides monitoring and optimization services for approximately 20% of active compression horsepower in North America, including client relationships with 15 of the top 25 North American independent gas producers. Through its compression training segment, Detechtion has trained over 9000 operators, mechanics, foremen, superintendents, and engineers, providing them the knowledge and tools to deliver higher levels of compressor performance and profitability to the bottom line.

About Element Partners
Element Partners is a leading growth equity firm investing in high-growth companies offering innovative products and services to the global energy, industrial, and environmental markets. Element has a long history of providing companies with the financial resources, industry contacts, and strategic insights necessary to maximize growth and shareholder return. With 125 combined years of experience, the team has successfully managed over $1.25 billion in capital commitments spanning six investment partnerships.

SOURCE Detechtion Technologies

For further information:
Gerry Conroy, gconroy@detechtion.com, Phone: (303) 578-0851

Photo courtesy of Shutterstock.