June 17, 2015
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Archives for June 17, 2015

Tengram Acquires Zanella

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zanella nf1Tengram Capital Partners has signed an agreement to acquire the Zanella, a menswear brand best known for its offering of handcrafted, sartorial trousers made in Italy.

Zanella sells its classic dress pants through specialty stores and high-end department stores – such as Nordstrom, Neiman Marcus and Mitchell’s – across the US, Canada and Europe.  Zanella will continue to utilize its existing facility in Vicenza, Italy to manufacture the company products.  Zanella’s US headquarters are based in New York (www.zanella.com).

William Sweedler nf1“Zanella is an iconic Italian luxury brand that has achieved strong recognition in the US and continues to be one of the most asked for brands in all of menswear across its key retailers. We are thrilled to have the opportunity to restructure this business, as well as drive the brand’s expansion through existing wholesale partners in the US and abroad,” said William Sweedler, Co-Founder and Managing Partner of Tengram.

Heading Tengram’s investment in Zanella will be Todd Barrato, the Chief Executive Officer of Luciano Barbera, an Italian ultra-luxury apparel brand that was acquired by Tengram in October 2014 (www.lucianobarbera.it).  The founder of Luciano Barbera – who else but Luciano Barbera – was once described as “the most elegant man in the world” by the US media.

Tengram invests in companies in the branded consumer products and retail sectors. Specific areas of interest include apparel, sporting goods, consumer electronics, home furnishings, health & beauty, spirits, and food & beverages. Tengram was founded in 2010 by William Sweedler and Matthew Eby and is based in Westport, CT (www.tengramcapital.com).

“Having evaluated a number of Italian opportunities since our investment in Luciano Barbera, we found Zanella to be one of the few brands with the ability to quickly scale in the US market. We expect this growth to be driven primarily by rejuvenation of the company’s core dress pant business, as well as expansion into select complimentary classifications such as casual pants,” said Brian Thorne, Vice President at Tengram.

© 2015 PEPD • Private Equity’s Leading News Magazine • 6-17-15

Vista Equity Partners to Acquire EagleView

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eagleview nf1EagleView Technology Corporation, a provider of aerial imagery and data, has entered into an agreement to be acquired by Vista Equity Partners.

EagleView Technology – through its two wholly owned subsidiaries, EagleView Technologies and Pictometry International – is a provider of aerial imagery, data analytics and geographic information systems. A geographic information system (GIS) is a system designed to capture, store, manipulate, analyze, manage, and present all types of spatial or geographical data.

EagleView provides its data and services to the insurance, construction, solar, government and public utility sectors which use the information for property claims, risk management, construction, emergency response, assessment, and corridor mapping. EagleView is headquartered northeast of Seattle in Bothell, WA (www.eagleview.com) (www.pictometry.com).

Robert Smith nf2According to Vista, under the firm’s ownership EagleView will enter a new phase of growth that will leverage EagleView’s proprietary dataset – the company has a vast image library and patented 3-D measurement software – to create new products and address underpenetrated market verticals.  “We see tremendous value and opportunity in EagleView’s ability to capture high-resolution imagery, and extract Big Data and deliver it to a wide range of industries and customers using very progressive technologies,” said Robert Smith, Chairman and CEO of Vista Equity Partners. “The EagleView growth story is impressive, and we look forward to working with the executive team to take the organization to the next level.”

Vista Equity Partners has more than $14 billion in committed capital and makes equity investments in enterprise software businesses and technology-enabled services companies. The firm was founded in 2000 and has over 50 investment professionals operating out of San Francisco, Chicago and Austin (www.vistaequitypartners.com).

“We are very pleased to be partnering with Vista,” said Chris Barrow, President and CEO of EagleView. “Vista’s investment and professional support provides us with a significant opportunity to continue delivering exceptional products to our more than 40,000 customers as we accelerate growth into new, emerging markets.”

William Blair & Company was the exclusive financial advisor to EagleView.

© 2015 PEPD • Private Equity’s Leading News Magazine • 6-17-15

GTCR Invests in Transaction Data Systems

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rx30 nf2GTCR has made an investment in Transaction Data Systems (DBA Rx30), a provider of pharmacy management software. The investment will be used to fund both new product development and the working capital needs of the company.

Rx30 is a developer and supplier of pharmacy management software used in the independent, hospital, long-term care and specialty pharmacy markets.  The company’s software products are used for all pharmacy management activities, including prescription dispensing, automated refills and reminders, workflow management, adherence management, document management, smart phone/web refills, e-prescribing, outbound customer communication, interactive voice response integration, business reporting, and label printing.  Rx30 is headquartered near Orlando in Ocoee, FL (www.rx30.com).

Rx30’s CEO, Steve Wubker, and the existing management team will continue to lead the company in partnership with GTCR.  “I am excited to welcome GTCR as investors at an important time in the company’s evolution as I continue to build and grow Rx30 through additional products and services,” said Mr. Wubker. “As long-time healthcare and technology investors, GTCR brings significant resources and expertise to our company, and I believe that together we can offer our customers new capabilities in cutting-edge pharmacy software and support.”

GTCR pioneered the investment strategy of identifying and partnering with executives to acquire and build companies through a combination of acquisitions and internal growth. The firm currently has nearly $11 billion in assets under management. Since its inception in 1980, GTCR has invested more than $10 billion in over 200 companies. The firm is based in Chicago (www.gtcr.com).

dean mihas nf7“We are delighted to partner with Steve Wubker and invest in Rx30,” said Dean Mihas, Managing Director at GTCR. “We believe Rx30’s management team, leading software solutions and strong reputation create a unique position in the pharmacy management software market and provide an attractive platform for continued growth and innovation.”

GTCR’s investment in Rx30 was funded from GTCR Fund XI, a private equity fund raised in 2014 with $3.8 billion of limited partner equity capital commitments.  “This transaction highlights GTCR’s continued interest in the healthcare IT industry and demonstrates our continued enthusiasm for investing in software providers with market-leading technology and service,” said Sean Cunningham, Managing Director at GTCR.

Financing for this transaction comes from Macquarie Corporate and Asset Finance Lending, Golub Capital, ORIX Leveraged Finance, Ares Capital Corporation and Business Development Corporation of America.

William Blair & Company served as the financial advisor to Rx30.

© 2015 PEPD • Private Equity’s Leading News Magazine • 6-17-15

Constitution Capital Closes Fund 3

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consitution capital nf1Constitution Capital Partners has held a final close of its latest fund, Ironsides III Private Equity Partnership/Co-Investment Fund, LP, with $823 million in capital commitments.

Constitution Capital Partners makes fund investments and direct investments in North America-based small to mid-cap opportunities.  The firm’s limited partners are largely institutional investors, family offices and high net worth investors from the US, UK, Europe, South America and Asia.  The firm is led by its founders Daniel Cahill and John Guinee and is headquartered in Boston (www.concp.com).

Daniel Cahill nf1“We are very pleased to complete this fundraise, which marks another milestone in the evolution of Constitution Capital Partners,” said Mr. Cahill.  “We believe the significant investor interest in Ironsides III is testament to the soundness of our investment strategy and our disciplined investment process. I want to thank our over 55 returning and new investors for their commitment to Ironsides III and to our firm.”

As with its predecessor fund, Ironsides III will focus on investments in private equity funds with $200 million to $1.5 billion in commitments and direct co-investments that have enterprise values between $100 million and $1 billion. To date, Ironsides III has completed seven direct co-investments and three fund investments.

John Guinee nf1“Constitution Capital’s experienced, cohesive team has extensive relationships that will offer Ironsides III access to top-performing funds and direct investments in premier LBO transactions,” said Mr. Guinee.  “As disciplined investors with a demonstrated record of success, we offer an effective conduit to the US middle market for limited partners within and outside of North America. As we invest Ironsides III, we will continue our focus on providing our investors with premier investments in this attractive asset class.”

© 2015 PEPD • Private Equity’s Leading News Magazine • 6-17-15

Will Pucillo Continues Climb at Grey Mountain

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grey mountain nf1Grey Mountain Partners has promoted Will Pucillo to Vice President from Senior Associate.  Since joining the firm as an Associate in September 2011, Mr. Pucillo has been active in all areas of the business, primarily focusing on portfolio management.

will pucillo nf1Before joining Grey Mountain, Mr. Pucillo was an investment banking analyst at Oppenheimer in New York and Barrington Associates in Los Angeles, where he provided merger and acquisition, corporate finance, and restructuring services to middle market companies.  Mr. Pucillo has a BA in Economics from Williams College and an MBA from the University of Michigan.  Mr. Pucillo currently serves as a portfolio company manager for Grey Mountain’s investments in Consolidated Glass Holdings, Binswanger Enterprises, and Fleetwood Industries.

Grey Mountain Partners invests up to $75 million in control acquisitions of companies with enterprise values between $30 million and $150 million. Sectors of interest include aerospace & defense, building products & materials, business process outsourcing, diversified manufacturing, energy & power, financial services, food & beverage, healthcare services & technology, industrial services, packaging, professional services, specialty chemicals, technology, transportation & logistics, wholesale and distribution.

Grey Mountain was founded in 2003 by Managing Partners Rob Wright and Jeff Kuo and is based in Boulder with additional offices in Minneapolis and Pittsburgh (www.greymountain.com).

© 2015 PEPD • Private Equity’s Leading News Magazine • 6-17-15

Cascade Partners Adds Kurt Barr

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cascade nf1Cascade Partners has added to its investment team with the hiring of Kurt Barr as a new Director.

Mr. Barr is a former director of Corporate and Business Development at Blue Cross Blue Shield of Michigan.  His background includes more than 15 years of corporate and business development experience and he has been involved in more than $1 billion of transactions.  Mr. Barr will be based in the firm’s Detroit headquarters.

“Kurt is a great addition to our team. His corporate development experience inside Blue Cross Blue Shield will bring even greater insight to our client partners,” says Rajesh Kothari, founder and managing director.

kurt barr nf1In his 9-year tenure at Blue Cross Blue Shield, Mr. Barr led the sourcing, screening, execution, and portfolio management of multiple transactions. Prior to joining Blue Cross, he was a senior associate at New York-based investment bank Giuliani Capital Advisors.  He earned his undergraduate degree from the University of Michigan and his MBA from Michigan State.

Cascade Partners provides investment banking services to entrepreneurs, businesses, and investors active in the middle market. In select situations, Cascade Partners will provide mezzanine or equity capital, directly or with its partners, to fund growth financings, acquisitions or change of control transactions. Sectors of interest include healthcare, business services and manufacturing.  The firm has offices in Detroit (Southfield), Chicago (Oakbrook) and Cleveland (www.cascade-partners.com).

© 2015 PEPD • Private Equity’s Leading News Magazine • 6-17-15

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