Category Archives: News

Dickinson Fleet Services Acquires Interstate Truck Center

Ridgemont Equity Partners

November 10, 2020

Leading Fleet Repair & Maintenance Provider Expands Mobile Service Offering

Indianapolis, IN and Kansas City, MO (11/10/2020) – Dickinson Fleet Services (“Dickinson” or “DFS”), along with majority shareholder Ridgemont Equity Partners, is pleased to announce the acquisition of Interstate Truck Center (“Interstate” or “ITC”) of Kansas City, MO, forming a unique partnership which will leverage the mobile expertise and capabilities of both companies. Interstate will continue to operate under its founder-led management team and be supported by the DFS platform. This new partnership will cement the combined business as the largest mobile maintenance provider in North America and provide fleets with an increased breadth of services across both scheduled and unscheduled fleet maintenance. The combined entity has mobile power, mobile trailer, and mobile emergency service capabilities across an enhanced footprint, with a combined fleet of 700+ mobile repair units. The partnership will also position DFS and ITC to better capitalize on the shift to mobile maintenance demanded by the fleet maintenance industry today.

“We are very excited to partner with the Interstate team,” said Ted Coltrain, Executive Officer at DFS. “ITC has built a strong reputation for providing exceptional and timely emergency mobile repair services nationwide. This strong track record will serve as a solid base to accelerate future growth for both DFS and ITC by expanding our market presence and service offering for new and existing customers.”

“The combined service offering of DFS and ITC is a win for us and for our customers. We can now provide a self-performing, full-service solution for our customers across both scheduled and unscheduled maintenance, which is truly unique in the industry today,” added Mike Dickinson, Executive Officer at DFS.

“Partnering with Dickinson provides us with a unique opportunity to more effectively deliver on our promise to customers of always having knowledgeable, professional technicians available to keep our customers’ fleets moving. Together, we will deliver industry-changing commitments to reduce downtime for our customers. The partnership of ITC and DFS is a natural fit and will create tremendous growth opportunities for all involved,” said Scott Higgs, President of Interstate Truck Center.

As companies grapple with increasing supply chain complexity, driver shortages, and the impacts of e-commerce, the mobile emergency services offered by DFS and ITC will provide unparalleled value to the customers of both companies by fulfilling the promise to ensure that customers will never have to miss a delivery as a result of an emergency breakdown event. Additionally, the full spectrum of mobile offerings will continue to drive incremental value for North American fleets by minimizing downtime and reducing inefficiencies in the repair cycle.

ITC marks Dickinson’s tenth acquisition since 2017. DFS continues to pursue additional acquisition targets across North America. Dickinson was supported in the formation of this partnership by Ice Miller LLP for legal matters and by KSM Business Services, Inc. for financial matters.

About Dickinson Fleet Services

Headquartered in Indianapolis, Indiana, Dickinson Fleet Services has grown into one of the largest independent fleet maintenance and management companies in the country. DFS is the leading provider of on-site mobile maintenance and repair services nationwide, offering mobile on-site maintenance and repair services for light, medium and heavy duty trucks and trailers with over 300 mobile units operating in 40 states. DFS services fleet customers with 15 company-owned maintenance facilities each offering select services from accident repair, paint, refurbishment and dedicated technician services, combined with an in-house CARES CALL center providing 24/7 repair assistance. DFS has made significant investments in training and technology, including WebWrench® (maintenance tracking and scheduling through proprietary technology) and TRAIT® (real-time reporting and dynamic preventative maintenance inspections processed through a proprietary field service application), and is the only fleet services company in the nation to provide both fleet maintenance and management to its customers nationwide.

http://dickinsonfleet.com
About Ridgemont Equity Partners

Ridgemont Equity Partners is a Charlotte-based middle market buyout and growth equity investor. Since 1993, the principals of Ridgemont have invested approximately $4.4 billion. The firm focuses on equity investments up to $250 million in industries in which it has deep expertise, including business and industrial services, energy, healthcare, and technology and telecommunications.

https://www.ridgemontep.com
Media Contact:
Kelly Lineberger
Ridgemont Equity Partners
704 944 0935
klineberger@ridgemontep.com

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Novacap Portfolio Company, The Master Group acquires Alberta motor distributor Soper’s Supply Ltd.

Novacap

Master diversifies its offerings and obtains expertise in the electric motor sector

November 10th, 2020 – Novacap is pleased to announce that its portfolio company, The Master Group, the most important independent distributor of heating, ventilation, air conditioning and refrigeration products (CVCA-R) in Canada has completed the acquisition of Alberta-based Soper’s Supply Ltd. (“Soper’s”). Soper’s specializes in the sale and distribution of electric motors, fans, blowers, and pumps and is one of Canada’s largest distributors of HVAC-R motors. Soper’s services Western Canada from their branches in Winnipeg, Edmonton, Calgary, Surrey and Vancouver.

Soper’s is recognized for its vast inventory, extensive knowledge, and high level of expertise in the electric motor sector, as well as in the replacement motor field. Soper’s has developed market leading competencies that quickly and efficiently identify replacement equivalents to most motors.  This new partnership represents a fantastic diversification opportunity for The Master Group.

“The acquisition of Soper’s allows us to diversify into electric motors, and to join forces with the most qualified experts in this field across Canada. This association will be a great opportunity to expand our product offering for the benefit of all customers from coast to coast,” explains Louis St-Laurent, CEO, The Master Group. “We are very proud to welcome Soper’s team into the Master family.”

“The Master team has similar values to ours,” said Jim Moroz, President, Soper’s. “As a family business, it was imperative to join a company with the same customer service focus and one that provides a healthy and opportunity-filled work environment to our employees. We are delighted with this transaction, to work within a recognized Canadian company that has assumed leadership in its field for so many years. ”

 

About Novacap

Founded in 1981, Novacap is a leading Canadian private equity firm with CA$3.6 billion of assets under management. Its distinct investment approach, based on deep operational expertise and an active partnership with entrepreneurs, has helped accelerate growth and create long-term value for its numerous portfolio companies. With an experienced management team and substantial financial resources, Novacap is well positioned to continue building world-class businesses. Backed by leading global institutional investors, Novacap’s deals typically include leveraged buyouts, management buyouts, add-on acquisitions, IPOs, and privatizations. Over the last 39 years, Novacap has invested in more than 90 companies and completed more than 130 add-on acquisitions. The firm has offices in Brossard, Quebec and Toronto, Ontario. For more information, please visit www.novacap.ca.

 

About The Master Group
A leader in the heating, ventilation, air conditioning, and refrigeration sector for over 68 years, The Master Group has been named one of Canada’s best-managed companies since 2010 and is the largest HVAC/R distributor in Canada. The company now employs over 950 dynamic and devoted individuals who serve the industry at more than 44 branches and 4 distribution centres from British Colombia to the Atlantic Provinces. To learn more, go to master.ca or follow us on LinkedIn at linkedin.com/company/themastergroup.

 

About Soper’s Supply Ltd.

The team of experts at Soper’s has been serving customers in Western Canada since 1968 specializing in the replacement of electric motors and fans. They are a principal supplier and distributor of branded products. Soper’s has business locations in Vancouver, Surrey, Calgary, Winnipeg and head office in Edmonton, Alberta. Over 90% of the products sold by Soper’s are in inventory. Their commitment to customer service has helped make Soper’s the number one supplier of electric motors, blowers, fans, circulation pumps and related products.

 

For further information: Novacap: Alexandra Troubetzkoy, NOVACAP, +1 450-651-5000 ext.291, atroubetzkoy@novacap.ca

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Smarsh Acquires Digital Reasoning, Combining Global Leadership in Artificial Intelligence and Machine Learning With Market Leading Electronic Communications Archiving and Supervision

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November 10, 2020Acquisition Transforms the Technology-Enabled Risk and Compliance Space with First End-to-End AI-Powered Offering to Protect Regulated Organizations from Financial and Reputational Damage

Global Customers to Benefit from AI and ML for Data Search and Supervision, Amid Surges in Remote Workforces and Digital Communications and Collaboration Tools

PORTLAND, Ore. & NASHVILLE, Tenn., November 10, 2020 – Smarsh®, enabling organizations to manage risk and uncover value within their electronic communications, announced the acquisition of Digital Reasoning, a global leader in natural language processing (NLP), artificial intelligence (AI), and machine learning (ML), at the 2020 FINRA Artificial Intelligence Virtual Conference. The transaction brings together the leadership of Smarsh in digital communications content capture, archiving, supervision and e-discovery, with Digital Reasoning’s leadership in advanced AI/ML powered analytics. The combined company will enable customers to spot risks before they happen, maximize the scalability of supervision teams, and uncover strategic insights from large volumes of data in real-time.

Smarsh manages over 3 billion messages daily across email, social media, mobile/text messaging, instant messaging and collaboration, web, and voice channels. The company has unparalleled expertise in serving global financial institutions and US-based wealth management firms across both the broker-dealer and registered investment adviser (RIA) segments. Smarsh has been named a Leader in the Gartner Magic Quadrant for Enterprise Information Archiving (EIA) since 2015. The report evaluates vendors on their completeness of vision and ability to execute, and in the 2020 edition, Smarsh was placed highest in ability to execute and positioned furthest in completeness of vision.1

Brian Cramer, CEO of Smarsh, said, “Smarsh and Digital Reasoning’s combined capabilities equip customers with an entirely new expertise that we are calling ‘Communications Intelligence.’ Using artificial intelligence and machine learning helps firms more efficiently supervise and mitigate risk at scale, and will now enable them to analyze their electronic communications to uncover business intelligence that can fuel sales and other revenue drivers.

Mr. Cramer continued, “The ongoing pandemic and its impact on how and where people work has accelerated long-term trends that were already well underway.  The exploding volume, velocity, and variety of electronic communications are creating greater risks for firms, while also presenting opportunities to leverage communications data to spot risks before they happen, and identify new insights to drive fresh growth initiatives. These conditions are creating a large divide between firms investing to harvest data-driven insights and leverage data to manage risk, and those who are falling behind. This will bear out in earnings and share prices in the years to come.”

Tim Estes, Founder and CEO of Digital Reasoning, said, “In this new world of remote work, a company’s digital communications infrastructure is now the most essential one for it to function and thrive. Smarsh and Digital Reasoning provide the only validated and complete solution for companies to understand what is being said in any digital channel and in any language. This enables them to quickly identify things like fraud, racism, discrimination, sexual harassment, and other misconduct that can create substantial compliance risk.”

The combined capabilities of Smarsh and Digital Reasoning enable customers to:

  • Strengthen lexicon-driven supervision with AI-powered surveillance across the widest breadth of digital communications channels
  • Automate surveillance across the emerging collaboration tools (such as Microsoft Teams, Zoom, Slack, and Workplace by Facebook) that are critical for productivity in the COVID-era remote workforce reality
  • Reduce costs of human capital, by minimizing the amount of communications people must review
  • Accelerate the ability to leverage massive amounts of data for insights that can drive business growth
  • Identify troublesome patterns or trends of employee behavior before they cause irreparable harm

According to the 2020 Gartner Magic Quadrant for Enterprise Information Archiving, “Enterprises are increasingly tapping into business intelligence (BI) by applying analytics, semantics analysis and classification to many data types and sources.  Enterprises are looking for improved offerings that will integrate the archiving of such platforms for compliance-based or business-analytics-based initiatives.”1

Smarsh customers include 9 of the top 10 banks in the world. Digital Reasoning’s world-class AI and high-quality NLP models are powering conduct surveillance at many of the largest Tier 1 investment banks worldwide. Its investors, including leading global financial institutions Barclays, BNP Paribas, Goldman Sachs, Nasdaq, Macquarie Group, and Standard Chartered, will continue to support the business following this combination.

Together, Smarsh and Digital Reasoning can enable global customers to get ahead of unwanted or illegal activities such as fraud, insider trading, money laundering, customer complaints, and other top priorities. The enhanced platform will be especially adept at satisfying requirements from financial services regulators in the United States and overseas, including the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), and the U.K.’s Financial Conduct Authority (FCA).

Digital Reasoning was recognized among Fast Company’s Most Innovative Companies for AI and recently received the Frost & Sullivan Product Leadership Award in the AI Risk Surveillance Market. Smarsh and Digital Reasoning will be presenting on Communications Intelligence as the new imperative for the risk and compliance industry at the upcoming 1LoD XLoD global conference.

The addition of Digital Reasoning to the Smarsh organization follows the acquisition by Smarsh of Entreda, the leading cybersecurity compliance solutions provider for the wealth management space, in May of this year.

Financial details of the transaction, which is expected to close in the next 60 days, were not disclosed. Barclays acted as exclusive financial advisor to Digital Reasoning.

 

1 Gartner, “Magic Quadrant for Enterprise Information Archiving”, Michael Hoeck, Jeff Vogel, October 27, 2020.

 

About Smarsh

Smarsh is the recognized global leader in electronic communications archiving solutions for regulated organizations. The Smarsh Connected Suite provides innovative capture, archiving, e-discovery, and supervision solutions across the industry’s widest breadth of communication channels.

Scalable for organizations of all sizes, the Smarsh platform provides customers with compliance built on confidence. It enables them to strategically future-proof as new communication channels are adopted, and to realize more insight and value from the data in their archive. Customers strengthen their compliance and e-discovery initiatives, and benefit from the productive use of email, social media, mobile/text messaging, instant messaging and collaboration, web, and voice channels.

Smarsh serves a global client base that spans the top banks in North America and Europe, along with leading brokerage firms, insurers, and registered investment advisors. Smarsh also enables federal and state government agencies to meet their public records and e-discovery requirements. For more information, visit www.smarsh.com.

About Digital Reasoning

Digital Reasoning is a global leader in understanding human communications and behavior through the combination of applied AI, deep collaboration with industry experts, and a commitment to use technology for positive change. Through the combination of our trusted technology and our customers’ experience, for example, patients have a better chance of surviving, banks can ensure their employees are meeting the highest standards of conduct, and law enforcement can protect the most vulnerable citizens in our society.  For more information, go to www.digitalreasoning.com and follow on Twitter at @dreasoning.

 

More Resources
Smarsh and Actiance Complete Merger, Combine Forces to Redefine Archiving Under the Smarsh Brand
Smarsh Acquires Entreda, Leader in Cybersecurity Risk and Compliance Software for Wealth Management Industry

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Innovestor invests in Linear – Digitalizing the real estate business

Innovestor

Linear, a Finnish startup focusing on the digitalization of real estate brokerage, has closed €1.1 million in seed funding. The round was led by Innovestor Ventures, joined by institutional and private investors as well as the company’s previous backer, Superhero Capital. Linear will use the latest funding round on future growth and expansion to new markets.

Linear Oy, founded in 2018, offers a digital ecosystem that is driven by artificial intelligence and machine learning to facilitate the housing trade. The services benefit both private sellers and professional realtors.

Linear offers realtors a comprehensive SaaS (Software as a Service) automation tool for managing the sales process and acquiring new customers. Furthermore, realtors have access to a wide range of digital marketing tools, such as virtual apartment tours and virtual interior designs. Realtors can use Linear to minimize the amount of manual work, allowing them to focus solely on the sales process. This increases the annual sales capacity of realtors significantly.

To date, Linear has over 600 registered realtors as customers from the majority of Finland’s largest realtor agencies, including Remax, Kiinteistömaailma and Bo LKV.

For private home sellers, Linear provides an integrated platform (named Dixu) with all the necessary tools to sell homes independently. For a flat fee, private sellers get AI-driven pricing suggestions, support in preparing legal documents, marketing materials and a sample of the most efficient realtors in their own area, if they decide to turn to professional sales support.

The development of the real estate sector has recently focused heavily on digital services and concepts that facilitate the sale of a house listing without a realtor. Miro Eriksson, CEO at Linear, believes realtors will continue to play an important role in the real estate selling process.

“While many choose to sell their homes independently, from consumer to consumer, we think that realtors continue to have a solid position in the market – and we are happy to provide them with a new solution to make their job easier and more efficient. We are proud and humble to successfully close this investment round, giving us confidence to continue developing our products and services”, Eriksson says.

 

“We were able to quickly build conviction around Linear’s ambitious team and their vision for applying tech to develop the home selling market. Moreover, in this market, we believe the Human+Machine approach will be a successful formula. Over a short period of time, the company has validated its offering and is now ready to scale”, says Innovestor’s Wilhelm Lindholm.

 

This was Superhero Capital’s follow-on investment into the company, as the Helsinki-based venture capital firm made their initial investment in Linear’s pre-seed round in 2019.

Although Linear’s platform was launched in 2019, the startup has shown strong growth as their revenue has increased by 14 percent month-over-month during the first half of 2020.

 

In the media 

Suomalainen asuntokaupan nettiapuri keräsi 1,1 miljoonan euron rahoituksen – Idea keksittiin pankissa: ”Olemme myöntäneet miljoonien edestä lainoja ja huomasimme ongelmia” (Talouselämä)

Finnish startup Linear raises €1 million to digitalise real estate but keep realtors in the game (Tech.eu)

 

Contact

Miro Eriksson

CEO, Linear
miro(a)linear.fi
+358 44 5801656

 

Wilhelm Lindholm

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Alpine Launches Orion Group

Alpine

OKLAHOMA CITY–(BUSINESS WIRE)–Alpine Investors (“Alpine”), a middle-market private equity firm that partners with and develops exceptional people to grow businesses, today announced its partnership with Jackson Mechanical Service Inc. (“Jackson”), a leading commercial and industrial HVACR and boiler business based in Oklahoma City. Terms of the private transaction were not disclosed.

“This investment marks the first of many partner companies that we will bring into the Orion family over the coming years”

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Jackson will serve as the foundation of Orion Group (“Orion”), Alpine’s newly formed commercial facility services platform. Alpine intends to invest a meaningful portion of its recently raised $1 billion fund in family-owned commercial HVACR and plumbing businesses to build Orion into a national leader. Alpine has been an investor in the HVACR and plumbing trades for more than a decade with its previous investment in The Wrench Group and current investment in Apex Service Partners. Both businesses primarily serve residential customers while Orion serves commercial facilities.

Larry Beatty (President) and Matt Olson (General Manager) will continue to run day-to-day operations at Jackson. The business remains committed to providing exceptional customer service throughout Oklahoma and Orion is focused on supporting Jackson’s continued growth.

“Orion’s people-driven philosophy resonated with me and aligns with Jackson’s core values and commitment to our customers,” said Larry Beatty. “We’re excited about the tremendous growth opportunities that our partnership with Orion will provide members of our team and customers across the State of Oklahoma.”

“Orion builds on Alpine’s deep experience in the residential HVAC and plumbing trades by creating a home for commercial service providers,” said Orion CEO, Will Adams. “We intend to partner with companies whose commitment to winning through talent has made them the leaders in their markets. By investing in training and development, and by honoring the unique cultures and brands that our partners have built, we strive to be the employer of choice for the best technicians in the business.”

“This investment marks the first of many partner companies that we will bring into the Orion family over the coming years,” said Orion President, Isaiah Brown. “Orion approaches each partnership with flexibility, creating a tailored solution to meet the business owner’s objectives. Whether the owner chooses to continue running the business day-to-day, play a different role within the company, or move on to the next adventure — we can create a plan to achieve their goals while making sure that their employees, business and legacy have a great home.”

Generational Equity served as Jackson’s exclusive advisor in the transaction.

About Orion Group

Orion Group is a commercial facility services company seeking to partner with leading family-owned service providers with a focus on HVACR and plumbing. Orion plans to build a national platform by investing in leading local businesses with great cultures, attracting the best technical and managerial talent and creating unmatched growth opportunities for them. For more information, please visit: https://www.OrionServicesGroup.com/

About Jackson Mechanical Service Inc.

Jackson Mechanical has proudly served facilities across the State of Oklahoma since its founding in 1957. Jackson has grown from a team of three to one of the largest independent commercial HVACR and boiler service providers in Oklahoma by providing customers exceptional service and developing the best technicians in the region. For more information, please visit: https://www.jmsokc.com/

Alpine Investors

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Great Canadian Gaming Corporation Enters Definitive Agreement to Be Acquired by Funds Managed by Affiliates of Apollo Global Management For C$39.00 Per Share

Apollo Global

November 10, 2020

Sponsorship from Leading Investment Manager to Bring Additional Gaming and Hospitality Expertise to Great Canadian

Apollo Expresses Support for Safe Reopening and Welcoming Back Team Members in Adherence with All Applicable Health and Safety Restrictions

TORONTO, Nov. 10, 2020 (GLOBE NEWSWIRE) — Great Canadian Gaming Corporation (TSX:GC) (“Great Canadian” or the “Company”) today announced that it has entered into a definitive agreement to be acquired by funds (the “Apollo Funds”) managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”). Under the terms of the agreement, Apollo Funds will acquire all the outstanding shares of Great Canadian common stock for C$39.00 per share in a transaction with a total enterprise valuation exceeding C$3.3 billion.

The purchase price represents a 59% premium to the 30-day VWAP as of November 9, 2020.

Following close of the transaction, Great Canadian will remain headquartered in Toronto, led by a Canadian management team and with Canadian board members. Apollo also anticipates that certain Canadian institutions may co-invest in the transaction to become equity owners in the Company alongside the Apollo Funds upon completion of the acquisition. Apollo is a responsible sponsor and has a long track record of success investing in companies in highly regulated industries, as well as Canada-based companies.

 “The Board of Directors, based on a recommendation from the special committee of independent directors, has unanimously concluded that this transaction represents the best course of action for the Company. Factoring in our long-term prospects, this transaction will unlock value for our shareholders at a significant premium to our current share price,” stated Rod Baker, the Company’s Chief Executive Officer.

“We are pleased that this transaction represents a great opportunity for our shareholders, while continuing to support the success of the business longer term. We believe this transaction is beneficial for our shareholders, our team members, our guests, and other stakeholders as we continue to execute on our operational and development plans into 2021 and beyond, while we navigate through this volatile time. In addition, we believe Apollo’s extensive experience in the gaming sector will provide additional strategic benefits to help expand our gaming and hospitality offerings and to secure our position as a long-term market leader,” concluded Baker.

Apollo is committed to maintaining the Company’s current operational footprint and anticipates Great Canadian’s properties will increase under the Apollo Funds’ ownership. Apollo intends to help drive additional, incremental growth through initiatives such as expansion of non-gaming facilities, expanded loyalty and marketing programs, and gaming improvements that leverage the scale of the firm’s platform. Apollo recognizes Great Canadian’s strong track record of corporate citizenship and community involvement and will continue this legacy.

Alex van Hoek, Partner at Apollo, said: “Great Canadian is a leader in the gaming and entertainment industry and, based on our experience and knowledge of the space, we see opportunities to work with their talented team to drive additional growth and value. With an industry-leading portfolio of assets and established presence in the best geographic markets across Canada, we are excited to help bring an enhanced experience to more guests across Canada.”

Van Hoek added: “We also recognize the challenges of the current circumstances and are committed to working with the management team, regulators and health authorities to allow the Company to reopen its properties as soon as it’s safe to do so. We’re excited for the Company to welcome Great Canadian team members back to work, and we look forward to a time when employment and operations return to pre-COVID levels. We are of course also firmly committed to complying with applicable reopening rules as the health and safety of team members and guests will remain the highest priority.”

The transaction has been approved unanimously by the Board of Directors of Great Canadian, which determined that the transaction is fair from a financial point of view to shareholders and is in the best interests of the Company. The Company and the Special Committee of the Board of Directors received fairness opinions from Scotiabank and CIBC World Markets Inc., respectively, which subject to the assumptions, qualifications and limitations therein that, as of the date of each such opinion, the consideration to be received pursuant to the definitive agreement, is fair, from a financial point of view, to the Great Canadian shareholders. The Board of Directors of Great Canadian also unanimously resolved to recommend that shareholders vote in favour of the transaction at the special meeting of shareholders that will be called to approve the transaction, which is expected to be held in December 2020.

The transaction is not subject to a financing condition. The transaction is structured as an arrangement under the Business Corporations Act (British Columbia). The transaction will be subject to a number of closing conditions, including customary provincial and federal regulatory approvals (including under the Investment Canada Act and the Competition Act (Canada)), the receipt of necessary shareholder approvals, the receipt of the necessary approvals from the Supreme Court of British Columbia, and the Company maintaining its credit facilities.  Further details regarding the terms of the transaction are set out in the arrangement agreement, which will be publicly filed by Great Canadian under its profile at www.sedar.com.

Further information regarding the transaction will be included in an information circular to be mailed to Great Canadian shareholders. The transaction is expected to close in the second quarter of 2021.

Scotiabank is serving as lead financial advisor to the Company and CIBC World Markets Inc. is serving as financial advisor to the Special Committee.  McMillan LLP is serving as legal advisors to the Company and Blake, Cassels & Graydon LLP is serving as legal advisors to the Special Committee.

Macquarie Capital acted as lead financial advisor to Apollo on the transaction. Deutsche Bank Securities and Barclays also acted as financial advisors to Apollo. Apollo’s legal advisors were Akin Gump Strauss Hauer & Feld LLP, Paul, Weiss, Rifkind, Wharton & Garrison LLP, and Osler, Hoskin & Harcourt LLP. Crestview Strategy is serving as Canadian public affairs and government relations advisors.

Apollo is a leading alternative investment manager with extensive experience in the gaming sector, including control investments made by its funds to grow and enhance the operations of Aliante, Gala Coral, Gamenet and PlayAGS (formerly American Gaming Systems), collective operations of which span the US, UK and Italy. Apollo has a 30-year track record of responsible investing, with its affiliated funds successfully owning companies in highly regulated industries such as gaming, healthcare, chemicals and aerospace.

ABOUT GREAT CANADIAN GAMING CORPORATION

Founded in 1982, Great Canadian Gaming Corporation is an Ontario-based company that operates 25 gaming, entertainment and hospitality facilities in Ontario, British Columbia, New Brunswick, and Nova Scotia. Fundamental to the Company’s culture is its commitment to social responsibility. “PROUD of our people, our business, our community” is Great Canadian’s brand that unifies the Company’s community, volunteering and social responsibility efforts. Under the PROUD program, Great Canadian annually supports over 1,400 charitable and non-profit organizations across Canada. In each Canadian gaming jurisdiction, a significant portion of gross gaming revenue from gaming facilities is retained by our Crown partners on behalf of their provincial government for the purpose of supporting programs like healthcare, education and social services.

ABOUT APOLLO

Apollo is a leading global alternative investment manager with offices in New York, Los Angeles, San Diego, Houston, Bethesda, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong, Shanghai and Tokyo. Apollo had assets under management of approximately $433 billion as of September 30, 2020 in credit, private equity and real assets funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. For more information about Apollo, please visit www.apollo.com.

CAUTIONARY NOTES REGARDING FORWARD-LOOKING STATEMENTS

This news release may contain forward-looking information within the meaning of applicable securities legislation.

Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s and Apollo’s control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, impact of global liquidity and credit availability and liquidity and market risks associated with our financial instruments; interest and exchange rate fluctuations; fluctuations in operating results; economic uncertainty and financial market volatility; outbreaks of epidemics or pandemics and the response of governments to actual and potential epidemics or pandemics, including the current outbreak of COVID-19. These factors and other risks and uncertainties are discussed in the Company’s continuous disclosure documents filed with the Canadian securities regulatory authorities from time to time, including in the “Risk Factors” section of the Company’s Annual Information Form, and as identified in the Company’s disclosure record on SEDAR at www.sedar.com.

Readers are cautioned not to place undue reliance on the forward-looking information. The Company and Apollo undertake no obligation to revise forward-looking information to reflect subsequent events or circumstances except as required by law. The forward-looking information contained herein is made as of the date hereof, is subject to change after such date, and is expressly qualified in its entirety by cautionary statements in this press release.

Great Canadian Contact Information

For investor enquiries:

ir@gcgaming.com, or
Ms. Tanya Ruskowski
Executive Assistant to the Chief Executive Officer and the President, Strategic Growth & Chief Compliance Officer
(604) 303-1000

For media enquiries:

Mr. Chuck Keeling
Executive Vice President, Stakeholder Relations & Responsible Gaming
(778) 874-4942
ckeeling@gcgaming.com

Apollo Contact Information

For investors:

Peter Mintzberg
Head of Investor Relations
Apollo Global Management, Inc.
212-822-0528
pmintzberg@apollo.com

Ann Dai
Investor Relations Manager
Apollo Global Management, Inc.
(212) 822-0678
adai@apollo.com

For US media:

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
jrose@apollo.com

For Canada media:

Kieran Lawler
Crestview Strategy
kieran.lawler@crestviewstrategy.com
(416)-303-0799

Morgan Cates
Crestview Strategy
morgan.cates@crestviewstrategy.com
(647)-999-3024

Primary Logo

Source: Apollo Global Management, Inc.

 

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Venminder Raises $33 Million in Growth Funding Led by Silversmith Capital Partners

Series C Round Includes Participation from Existing Investors, Bain Capital Ventures and MissionOG

Venminder, a leading innovator in third-party risk management solutions, today announced that it has raised a $33 million Series C funding round led by new investor Silversmith Capital Partners, with participation from existing major institutional investors, Bain Capital Ventures and MissionOG. The company plans to use the proceeds of the capital raise to propel forward feature development from its product roadmap, capture additional share in core verticals and expand further into new markets.

The investment follows Venminder’s continued track record of rapid growth, with the Company adding its 800th customer earlier this year and nearly tripling its revenue over the past 3 years. Demand for Venminder’s differentiated vendor risk management solutions has continued to increase through 2020, as the COVID-19 pandemic has heightened awareness of the importance of partnering with vendors that can verifiably provide a safe and secure environment for their customers and customer data.

“Closing a significant Series C round, during these uncertain times, further validates Venminder’s unique approach to managing third-party risk,” said James Hyde, CEO of Venminder. “We combine a comprehensive SaaS platform built with the capabilities to drive an entire third-party risk management program, with experienced in-house thought leaders, who can identify and assess the risk of vendor data by providing key oversight analytics and insights. The capital raise places Venminder in an excellent position to continue its path of expansion, as we address the complex and evolving challenges our customers and prospects face when managing vendor relationships. With this investment round, we are also very excited to bring on a new partner in Silversmith Capital Partners and welcome their co-founder Todd MacLean as a new Venminder board member, both of which have deep-rooted knowledge and networks across the technology industry and within our vertical end markets that will help facilitate our continued growth.”

Founded by Dana Bowers, a serial entrepreneur who also founded iPay Technologies, Venminder’s purpose-built SaaS-based software platform is configurable and designed for growth and scale, flexibly serving customers ranging from small businesses to Fortune 500 companies. The platform is a unique solution for organizations seeking to build a comprehensive, end-to-end view of the risks their vendors may pose, enabling them to seamlessly track, automate, assess and report on all vendor activity in a centralized information repository. As part of its continued platform development efforts, Venminder also launched the Venminder Exchange earlier this year, an unparalleled marketplace providing professionals a fast and efficient way to search and preview vendor risk assessments completed by qualified professionals, such as CISSPs, CPAs, and other thought leaders, in one easy-to-use, centralized location.

“We are really excited to partner with James, Dana and the entire Venminder team,” said Todd MacLean, managing partner, Silversmith Capital Partners. “At Silversmith, we strive to be thesis-driven in our approach and the case for reducing the risk associated with today’s extended enterprise is compelling. Even more so, however, our decisions are ultimately driven by management teams, and the ability to partner – again – with the team that built iPay into such a success is one we feel extremely fortunate to have.”

For more information on Venminder, visit www.venminder.com

About Venminder

Venminder offers a world-class SaaS platform that guides and streamlines third-party risk management. The Company is widely recognized for its solutions across all industries with most notably recently receiving the highest scores in 2 of 3 use cases in the Gartner Critical Capabilities for IT Vendor Risk Management Tools Report 2020. Venminder’s platform helps users collaborate on all things vendor-related and guides through critical processes such as oversight management, contract management, risk assessments, due diligence requirements, questionnaires, SLA management, vendor onboarding and more. Robust and configurable reporting can be generated from the tool to give clear visibility into the management and ongoing monitoring of third parties. Completed vendor risk assessments can be found in the Venminder Exchange and include thorough assessments of a vendor’s information security, SOC reports, contracts, financials, business continuity/disaster recovery and more. Venminder also powers Third Party ThinkTank, an online free community dedicated to third-party risk professionals. For more information, visit www.venminder.com.

About Silversmith Capital Partners

Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $2.0 billion of capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. Representative investments include ActiveCampaign, Appfire, Centauri Health Solutions, DistroKid, Impact, LifeStance Health, MediQuant, Panalgo, Unily, Validity, and Webflow. The partners have over 75 years of collective investing experience and have served on the boards of numerous successful growth companies including ABILITY Network, Archer Technologies, Dealer.com, Liazon, Liberty Dialysis, MedHOK, Net Health, Passport Health, SurveyMonkey, and Wrike. For more information about Silversmith, please visit www.silversmithcapital.com.

About Bain Capital Ventures

Bain Capital Ventures partners with disruptive founders to accelerate their ideas to market. The firm invests from seed to growth in startups driving transformation across industries, from SaaS, infrastructure software and security to fintech and healthcare to commerce and consumer tech. The firm has helped launch and commercialize more than 240 companies, including DocuSign, Jet.com, Kiva Systems, Lime, LinkedIn, Rapid7, Redis Labs, Rent the Runway, Rubrik, SendGrid and SurveyMonkey. Bain Capital Ventures has $5.2 billion in assets under management with offices in San Francisco, New York, Boston and Palo Alto. Follow the firm via LinkedIn and Twitter.

About MissionOG

MissionOG partners with high-growth businesses that have proven models in segments where we have had success as operators and investors, including financial services and payments, data platforms, and software. We apply our experience and capabilities to a group of highly skilled and passionate entrepreneurs whose businesses are on the cusp of exponential growth. Headquartered in Philadelphia, the firm is managed by operators and investors who have effectively built early to growth stage businesses and guided them through successful acquisitions. For more information visit http://www.missionog.com.

Media Contact:

Jessica Carbino, Director of Marketing

Venminder | media@venminder.com

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Europe is on its way to quantum leadership: IQM raises 39 M€ in Series A funding

Tesi

IQM Quantum Computers (IQM), the European leader in building superconducting quantum computers, today announced that it has raised 39 M€ in Series A funding, bringing the total amount of funding raised to date to 71 M€.

This ranks among the highest fundraising rounds by a European deep-tech startup within a year. MIG Fonds has led this round, with participation from all existing investors including Tesi, OpenOcean, Maki.vc, Vito Ventures, Matadero QED. New investors Vsquared, Salvia GmbH, Santo Venture Capital GmbH, andTencent, have also joined this round.

“IQM has a strong track record of research and in achieving high growth. They continue to attract the best global talent across functions and have exceeded their hardware and software milestones. We are thrilled to lead this round and continue to support IQM as the company accelerates its next phase of business and hardware growth,” said Axel Thierauf, Partner at MIG Fonds, and Chairman of the Board of IQM.

Since 2019, IQM has been among the fastest-growing companies in the quantum computing sector and already has one of the world’s largest quantum hardware engineering teams. This funding will be used to accelerate IQM´s hardware development and to co-design application-specific quantum computers. A significant part of the funding will also be used to attract and retain the best global talent in quantum computing, and to establish sales and business development teams.

”Today’s announcement is part of our ongoing Series-A funding round. I am extremely pleased with the confidence our investors have shown in our vision, team, product, and the ability to execute and commercialize quantum computers. This investment also shows their continued belief in building the future of quantum technologies. This is a significant recognition for our fantastic team that has achieved all our key milestones from the previous round. We’re just getting started,” said Jan Goetz, CEO of IQM.

“It is impressive to be a part of the IQM journey and see the progress of their technology. We’re proud to see another startup from Finland making a global impact. IQM will have a lasting impact on the future of computing, and consequently will help solve some of the global challenges related to healthcare, climate change and development of sustainable materials among many others,” said Juha Lehtola, Head of Direct VC Investments at Tesi (Finnish Industry Investment).

IQM delivers on-premises quantum computers for research laboratories and supercomputing centers. For industrial customers, IQM follows an innovative co-design strategy to deliver quantum advantage based on application-specific processors, using novel chip architectures and ultrafast quantum operations. IQM provides the full hardware stack for a quantum computer, integrating different technologies, and invites collaborations with quantum software companies.

“We want to invest in deep technology startups that shape the future and advance society. IQM is the perfect example of a company that is on top of its game; their work on quantum computing will make an impact for generations to come,” said Herbert Mangesius, Founding Partner at Vsquared and Vito Ventures.

While quantum computing is still under development, governments and private organizations across the world are investing today to retain their competitive edge and become quantum-ready for the future. The next decade will be the decade of quantum technology, and we will see major breakthroughs with real-world applications using quantum computers in healthcare, logistics, finance, chemistry and beyond.

IQM Quantum Computers:
IQM is the European leader in superconducting quantum computers, headquartered in Espoo, Finland. Since its inception in 2018, IQM has grown to 70+ (TBC) employees and has also established a subsidiary in Munich, Germany, to lead the co-design approach. IQM delivers on-premises quantum computers for research laboratories and supercomputing centers and provides complete access to its hardware. For industrial customers, IQM delivers quantum advantage through a unique application-specific co-design approach. IQM has also received a 3.3 M€ grant from Business Finland and has been awarded a 15 M€ equity investment from the EIC Accelerator program.

Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of renewing economic growth by investing in funds and directly in companies. We invest profitably and responsibly, hand-in-hand with co-investors, to create the world’s new success stories. Our investments under management total 1.6 billion euros. Ambition for ownership and success www.tesi.fi | @TesiFII

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TPG and TA Associates to Acquire Planview from Thoma Bravo for $1.6 Billion

TPG Capital

Investment from leading technology investors will accelerate company’s vision as a global leader in Agile and PPM for enterprises

Austin; San Francisco; Fort Worth, Texas; and Boston –  November 10, 2020 – TPG Capital, the private equity platform of global alternative asset firm TPG, and TA Associates, a leading global growth private equity firm, today announced that they have signed a definitive agreement to acquire Planview, a global leader in Portfolio Management and Work Management. TPG Capital and TA Associates will acquire the company for a purchase price of $1.6 billion. Planview’s existing majority shareholder, Thoma Bravo, will retain a minority interest in the company.

“We’ve spent more than three decades delivering innovation, driving the market forward, and reinventing ourselves. I truly believe that the best is yet to come for our customers and for Planview,” said Greg Gilmore, CEO of Planview. “We’re grateful for Thoma Bravo’s partnership over the last four years, and look forward to this next chapter as we accelerate our vision and continue to be a journey partner for our customers as they transform strategy to delivery.”

Planview has more than 30 years of experience partnering with organizations to help them connect strategy to delivery. The company provides a comprehensive platform that spans the spectrum of Portfolio Management and Work Management solutions that enable organizations to transform and accelerate on-strategy delivery at enterprise scale. Through the platform, organizations can build an innovation culture, realize agile at scale, make the project to product shift, and adapt to the changing world of work.

“The nature of work has been changing over the last several years as technology has enabled employees to be productive in ways that weren’t previously possible,” said Nehal Raj, Partner at TPG Capital. “This shift has only accelerated during the pandemic, and what is emerging is a new and enduring model of work that’s increasingly flexible, fragmented, and distributed. As more of our work lives transition to digital, organizations will require tools that provide executives visibility and connectivity across the entire enterprise. With Planview, we see an opportunity to partner with an innovative leader at the forefront of this new way of working. We look forward to supporting the company in its next chapter of growth.”

“We have followed Planview for over a decade and have been impressed by the company’s strong growth under Greg Gilmore’s leadership,” said Ashu Agrawal, a Managing Director at TA Associates. “We believe that Planview’s comprehensive portfolio and work management solutions provide continued market opportunities as they are uniquely positioned to help organizations effectively navigate and accelerate strategy to delivery. We look forward to partnering with the Planview management team during the company’s next growth phase, and are pleased to be investing alongside TPG and Thoma Bravo.”

“Planview is another example of Thoma Bravo working with existing management to implement our proprietary, operational approach to value creation while complementing the organic growth of the business with strategic and creative M&A,” said Holden Spaht, a Managing Partner at Thoma Bravo. “We’re proud of being a part of Planview’s transformation from an IT PPM provider to a broader Portfolio and Work platform with unique, dual leadership across Agile and traditional Project domains, and we believe Planview is well positioned to continue its growth amidst a changing world of work. We look forward to continuing to invest in a company with strong market leadership, a highly differentiated platform, and a clear ability to execute.”

UBS Investment Bank and Deutsche Bank Securities Inc. provided committed debt financing, and alongside Barclays and Jefferies LLC acted as financial advisors to TPG Capital and TA Associates. Ropes & Gray served as legal counsel to TPG Capital, and Goodwin Procter served as legal counsel to TA Associates. JP Morgan and DBO Partners acted as financial advisors to Planview and Thoma Bravo, and Kirkland & Ellis served as legal counsel.

About Planview
Planview has one focus: enabling the transformation journey as organizations rewire strategy to delivery in today’s fast-paced, highly disruptive markets. Our solutions uniquely help organizations navigate this journey and accelerate on-strategy delivery at enterprise scale. Planview’s full spectrum of Portfolio Management and Work Management solutions create organizational focus on the strategic outcomes that matter and empower teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enable customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, Planview has more than 700 employees supporting 3,500 customers and 1 million users worldwide. For more information, visit: https://www.planview.com/.

About TPG
TPG is a leading global alternative asset firm founded in 1992 with approximately $83 billion of assets under management and offices in Austin, Beijing, Fort Worth, Hong Kong, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul, Singapore, and Washington, DC. TPG’s investment platforms are across a wide range of asset classes, including private equity, growth equity, real estate, and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of its portfolio. For more information, visit www.tpg.com on Twitter @TPG.

About TA Associates
TA Associates is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $33.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $3 billion per year. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.

About Thoma Bravo
Thoma Bravo is a leading private equity firm focused on the software and technology-enabled services sectors. With more than $70 billion in assets under management as of October 31, 2020, Thoma Bravo partners with a Company’s management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business. The firm has offices in San Francisco and Chicago. For more information, visit www.thomabravo.com.

Media Contacts:

Planview
Leslie Marcotte
719-439-4921
lmarcotte@planview.com

TPG
Luke Barrett
415-743-1550
media@tpg.com

TA Associates
Marcia O’Carroll
617-574-6796
mocarroll@ta.com

Philip Nunes, BackBay Communications
617-391-0792
phil.nunes@backbaycommunications.com

Thoma Bravo
Megan Frank
212-731-4778
mfrank@thomabravo.com

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TPG and TA Associates to Acquire Planview from Thoma Bravo for $1.6 Billion

Thomabravo

Investment from leading technology investors will accelerate company’s vision as a global leader in Agile and PPM for enterprises

Austin; San Francisco; Fort Worth, Texas; and Boston—TPG Capital, the private equity platform of global alternative asset firm TPG, and TA Associates, a leading global growth private equity firm, today announced that they have signed a definitive agreement to acquire Planview, a global leader in Portfolio Management and Work Management. TPG Capital and TA Associates will acquire the company for a purchase price of $1.6 billion. Planview’s existing majority shareholder, Thoma Bravo, will retain a minority interest in the company.

“We’ve spent more than three decades delivering innovation, driving the market forward, and reinventing ourselves. I truly believe that the best is yet to come for our customers and for Planview,” said Greg Gilmore, CEO of Planview. “We’re grateful for Thoma Bravo’s partnership over the last four years, and look forward to this next chapter as we accelerate our vision and continue to be a journey partner for our customers as they transform strategy to delivery.”

Planview has more than 30 years of experience partnering with organizations to help them connect strategy to delivery. The company provides a comprehensive platform that spans the spectrum of Portfolio Management and Work Management solutions that enable organizations to transform and accelerate on-strategy delivery at enterprise scale. Through the platform, organizations can build an innovation culture, realize agile at scale, make the project to product shift, and adapt to the changing world of work.

“The nature of work has been changing over the last several years as technology has enabled employees to be productive in ways that weren’t previously possible,” said Nehal Raj, Partner at TPG Capital. “This shift has only accelerated during the pandemic, and what is emerging is a new and enduring model of work that’s increasingly flexible, fragmented, and distributed. As more of our work lives transition to digital, organizations will require tools that provide executives visibility and connectivity across the entire enterprise. With Planview, we see an opportunity to partner with an innovative leader at the forefront of this new way of working. We look forward to supporting the company in its next chapter of growth.”

“We have followed Planview for over a decade and have been impressed by the company’s strong growth under Greg Gilmore’s leadership,” said Ashu Agrawal, a Managing Director at TA Associates. “We believe that Planview’s comprehensive portfolio and work management solutions provide continued market opportunities as they are uniquely positioned to help organizations effectively navigate and accelerate strategy to delivery. We look forward to partnering with the Planview management team during the company’s next growth phase, and are pleased to be investing alongside TPG and Thoma Bravo.”

“Planview is another example of Thoma Bravo working with existing management to implement our proprietary, operational approach to value creation while complementing the organic growth of the business with strategic and creative M&A,” said Holden Spaht, a Managing Partner at Thoma Bravo. “We’re proud of being a part of Planview’s transformation from an IT PPM provider to a broader Portfolio and Work platform with unique, dual leadership across Agile and traditional Project domains, and we believe Planview is well positioned to continue its growth amidst a changing world of work. We look forward to continuing to invest in a company with strong market leadership, a highly differentiated platform, and a clear ability to execute.”

UBS Investment Bank and Deutsche Bank Securities Inc. provided committed debt financing, and alongside Barclays and Jefferies LLC acted as financial advisors to TPG Capital and TA Associates. Ropes & Gray served as legal counsel to TPG Capital, and Goodwin Procter served as legal counsel to TA Associates. JP Morgan and DBO Partners acted as financial advisors to Planview and Thoma Bravo, and Kirkland & Ellis served as legal counsel.

About Planview

Planview has one focus: enabling the transformation journey as organizations rewire strategy to delivery in today’s fast-paced, highly disruptive markets. Our solutions uniquely help organizations navigate this journey and accelerate on-strategy delivery at enterprise scale. Planview’s full spectrum of Portfolio Management and Work Management solutions create organizational focus on the strategic outcomes that matter and empower teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enable customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, Planview has more than 700 employees supporting 3,500 customers and 1 million users worldwide. For more information, visit: https://www.planview.com/.

About TPG

TPG is a leading global alternative asset firm founded in 1992 with approximately $83 billion of assets under management and offices in Austin, Beijing, Fort Worth, Hong Kong, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul, Singapore, and Washington, DC. TPG’s investment platforms are across a wide range of asset classes, including private equity, growth equity, real estate, and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of its portfolio. For more information, visit www.tpg.com on Twitter @TPG.

About TA Associates

TA Associates is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $33.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $3 billion per year. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.

About Thoma Bravo

Thoma Bravo is a leading private equity firm focused on the software and technology-enabled services sectors. With more than $70 billion in assets under management as of June 30, 2020, Thoma Bravo partners with a Company’s management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business. The firm has offices in San Francisco and Chicago. For more information, visit www.thomabravo.com.

Read the release on the Business Wire website here.

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