PE Weekly: Digital BizServ Leads a Slow M&A Week

Platform Investments

MidOcean Partners Acquires GSTV. MidOcean Partners, a middle-market private equity firm, has acquired GSTV, a retail media and digital video advertising network. The company, which provides video advertising supported by data analytics, was acquired from its previous sponsor, Rockbridge Growth Equity.

Vector Capital Completes Bigtancan Take-Private. Vector Capital Management announced this week the completion of its acquisition of AI-driven revenue enablement technology provider Bigtincan Holdings. The private equity firm’s investment in the Australian business delists the company from the Australian Securities Exchange.

Add-Ons

Waud Capital’s Altocare Acquires MedTec. Altocare, a home care holding company formed by Waud Capital Partners, has acquired MedTec Healthcare, a tailored in-home care services provider. The investment augments the platform’s in-home care and adult day service capabilities.

Francisco Partners’ VitalSource Acquires RedShelf. Digital content delivery provider VitalSource, which services the higher education market, announced its acquisition of RedShelf this week. RedShelf similarly distributes course materials to higher education institutions in the U.S. VitalSource is backed by global investment firm Francisco Partners.

New Mountain Capital Leads Grant Thornton Rollup Strategy. New Mountain Capital, a private equity firm that led a consortium to acquire a majority stake in Grant Thornton US, is facilitating a roll-up strategy to consolidate Grant Thornton operations overseas. The auditing and advisory service provider has acquired its sister operations in Ireland, the UAE, Luxembourg and the Cayman Islands, according to Financial Times reports. Additional acquisitions are in the works.

H.I.G. Capital Forms Pellera Technologies Platform. H.I.G. Capital, an alternative investment firm, has formed its Pellera Technologies platform following its latest acquisition. In a take-private deal, H.I.G. acquired Converge Technology Solutions and merged it with existing portfolio company Mainline Information Systems. Pellera offers IT solutions for enterprise clients.

Align Capital’s StenTech Acquires BlueRing Stencils. StenTech, a provider of surface mount technology stencils backed by Align Capital Partners, has acquired BlueRing Stencils. A recent announcement said the investment enhances StenTech’s presence in precision manufacturing, with BlueRing servicing the circuit board assembly industry with its stencil printing technologies.

Strategics

Baldor Specialty Foods Acquires Golden Packing. Family-owned Baldor Specialty Foods, a food distributor operating in the Northeast and Mid-Atlantic, has acquired Golden Packing, according to a recent announcement. As part of the deal, Baldor will take over its Hunts Point Cooperative Market business and rebrand it as Golden Meat Co., enhancing Baldor’s presence in the meat distribution sector.

Insights

Austin Financial Services, Stearns Bank Enter Joint Ventures. Asset-based lender Austin Financial Services has entered into a strategic joint venture with Stearns Bank, according to an announcement provided to Middle Market Growth. Their collaboration will facilitate financing to small and medium-sized businesses.

Middle Market Growth is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.