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records management

Windjammer Buys Vital Records

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Windjammer Capital Investors has acquired Vital Records Control in partnership with CEO Danny Palo and other members of the company’s senior management team.

Vital Records Control (VRC) provides information management services including offsite records storage, open-file records storage, climate controlled storage, release of information services (on-site or off-site), vaulting services for media backups, electronic vaulting, destruction services including mobile shredding, imaging services including microfilming, records inventorying/indexing services, and packing services on-site at the customer’s location.

VRC services hundreds of Fortune 500 companies and thousands of regional, state, and local companies throughout the country with a concentration in the southeastern US. The company, founded in 1988, is headquartered in Memphis (www.vitalrecordscontrol.com).

“VRC’s management team built a well-respected business in its markets which has grown steadily over the past 25 years,” said Jeff Miehe, Managing Director at Windjammer. “VRC’s high levels of customer service and its leading technology platform have enabled it to develop leading positions in mid-size markets throughout the Southeast.  We are extremely excited about the opportunity to partner with CEO Danny Palo and VRC’s management team.”

Windjammer makes control investments of $50 million to $200 million in middle market businesses with EBITDAs from $10 million to $50 million. Sectors of interest include niche manufacturing, value-added distribution and business services.  Windjammer is currently investing from its $726 million Windjammer Senior Equity Fund IV, which closed in March of 2013.  The firm was founded in 1990 and is based in Newport Beach, CA and Waltham, MA (www.windjammercapital.com).

VRC is the seventh platform investment in Windjammer’s Senior Equity Fund IV.  The firm is actively seeking add-on acquisitions for VRC in the document storage, shredding, and imaging sectors.

“We’re enthusiastic about our new partnership with Windjammer and their support of our customer-focused approach to the market,” said Mr. Palo. “We look forward to leveraging Windjammer’s resources to help accelerate our growth into new and adjacent markets, strengthen our position in existing markets, and provide our customers with additional services related to their information governance needs.  Windjammer’s operational and strategic resources will be extremely valuable as we embark on the next phase of growth for our company.”

© 2017 Private Equity Professional | April 27, 2017

TopSpin Buys Midtown Record Storage

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2-20 Records Management, a provider of records storage and record management, and a portfolio company of TopSpin Partners, has acquired Midtown Record Storage, a division of Steinway Moving & Storage.

2-20 Records Management, acquired by TopSpin in October 2010, provides outsourced physical storage of documents and other media (computer back-up tapes, film, and sound archives), as well as ancillary services such as filing and retrieval of documents, pick-up and delivery, on-site or off-site management of records, database management, scanning/imaging of documents and document destruction. The company is led by CEO Doug Mann and is based in Edison, NJ (www.2-20rm.com).

Specializing in the management and storage of documents, Midtown Record Storage has helped clients safely store records for 20 years (click HERE for the Midtown Record Storage website).

Topspin Partners makes control investments in profitable and established lower middle-market businesses. Sectors of interest include health and wellness, niche consumer, food and beverage, business services and security. The firm is based on Long Island in Roslyn Heights, NY (www.topspinpe.com).

© 2017 Private Equity Professional | March 27, 2017

Rubicon Adds On to Gimmal

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Gimmal, a portfolio company of Rubicon Technology Partners, has acquired RecordLion, an information and records management company. RecordLion is the first acquisition since Gimmal was acquired by Rubicon in January 2017.

RecordLion provides software and services that allow users to govern their data and comply with state, federal, corporate, and legal mandates surrounding their information. RecordLion’s technology can be delivered as a service, completely existing in the cloud, on-premise in the customer’s own data center, or within a hybrid configuration that includes on-premise environments along with private and public clouds. The company was founded by President Chris Caplinger and is headquartered in St. Louis (www.recordlion.com). Mr. Caplinger will join Gimmal as the combined company’s VP of Engineering and will lead Gimmal’s new product innovation efforts.

Gimmal provides software and services that allow its customers to find information, govern its content, improve information access, and ensure records are in compliance with internal or external auditing standards. The company’s software is based on SharePoint and Office 365 platforms. Gimmal was founded in 2002 and is headquartered in Houston (www.gimmal.com).

With the acquisition of RecordLion, Gimmal extends its services outside of the SharePoint and Office 365 platforms. “The combination of Gimmal and RecordLion extends our leadership in information governance and records management by creating the most advanced digital workplace solution with the largest customer base of any company that manages content in SharePoint and Office 365. Now we can provide our customers with the flexibility to manage content in-place, significantly improving the scope of content under governance in an affordable manner,” said David Quackenbush, CEO of Gimmal.

Rubicon Technology Partners makes control equity investments of $30 million to $75 million in lower middle-market enterprise software companies that have revenues between $25 million and $150 million. Transaction types include buyouts and recapitalizations of closely held private companies, corporate divestitures, carve-outs or spin-outs, buy and build opportunities, and shareholder liquidity events. Rubicon has offices in Menlo Park, CA and Stamford, CT (www.rubicontp.com).

© 2017 Private Equity Professional | March 8, 2017

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