PE Weekly: Dealmakers Target Specialized Data Solution Providers
M&A leans heavily on targets supporting data, analytics, and business intelligence with a vertical focus
Platform Investments
KPS Carves out Ketjen from Albemarle. KPS Capital Partners announced this week it entered into an agreement to acquire a controlling stake in Ketjen Corporation’s refining catalyst solutions business from its existing owner, Albemarle Corporation. Albemarle will retain a 49% stake in Ketjen, while KPS will hold a 51% stake in the business, as well as 100% in its Performance Catalyst Solutions business.
Sunwave Health and Lightning Step Merge, Secure BVP Forge Funding. Sunwave Health and Lightning Step Technologies, both providers of modern software solutions for behavioral health and substance use organizations, have merged. In addition to their combination, the merged entity secured a strategic growth investment from private investment firm BVP Forge. Existing backers, including Level Equity, Blueprint Equity, and Gallant Capital also reinvested in the combined company.
Nordic Capital to Acquire BMLL. Nordic Capital has announced it reached an agreement to acquire BMLL, a provider of historical order book data and analytics. Nordic’s investment will be made alongside the company’s existing minority shareholder Optiver. BMLL services capital market participants.
Ponte Partners Acquires Tech Portfolio from Sponsor. Ponte Partners, a private equity firm that specializes in secondary investments, has acquired the technology portfolio of an unnamed PE firm. Ponte acquired Fandom, Exabeam, and Exenet, operating in the media, cybersecurity, and digital infrastructure sectors.
Platinum Equity Completes Anuvu Acquisition. Platinum Equity has completed its acquisition of Anuvu, a provider of entertainment solutions for mobility markets and inflight connectivity. The firm first announced the deal in August.
Add-Ons
Blue Point’s NSA Acquires Gemtor. National Safety Apparel (NSA), backed by Blue Point Capital Partners, has acquired Gemtor, a manufacturer of high-performance fall protection equipment. The company also manufactures confined space retrieval and rescue equipment.
Marlin Equity’s Learning Pool Acquires Elucidat. Marlin Equity Partners-backed Learning Pool, a learning technology company to support workplace performance, has acquired Elucidat, a cloud-based authoring platform. The investment follows Learning Pool’s previous acquisition of learning management system WorkRamp.
Branford Castle’s GPT Industries Acquires IRT. GPT Industries, which provides industrial services and products to the oil and gas, water, and other infrastructure sectors, has acquired Integrated Rectifier Technologies (IRT). GPT Industries is a portfolio company of Branford Castle Partners.
Strategics
MAI Capital Acquires Liberty Private Client. Registered investment advisor (RIA) MAI Capital Management announced this week its acquisition of RIA Liberty Private Client, according to a press release. Liberty manages $245 million in client assets and provides asset management, tax, retirement, and legacy planning solutions.
United Digestive Acquires Gastroenterology Assets. United Digestive, a gastroenterology provider platform operating in the Southeast, announced a partnership with two other providers. The company has acquired Gastro MD and Gastroenterology of Greater Orlando, expanding its Florida footprint.
Morgan Stanley Acquires EquityZen. Financial services firm Morgan Stanley has acquired EquityZen, a marketplace for pre-IPO investments. The investment strengthens Morgan Stanley’s position in the private markets to connect private companies and their shareholders with accredited investors, including clients of Morgan Stanley Wealth Management.
Exits
GenNx360 Exits Aero 3 to VSE Corporation. Private equity firm GenNx360 has sold GenNx/AeroRepair IntermediateCo., the parent company of Aero 3, a global maintenance, repair, and overhaul (MRO) service provider supporting the commercial wheel and brake aftermarket. Publicly listed VSE Corporation acquired the company.
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