PE Weekly: Tech-Enabled Healthcare Deals Flood In

Platform Investments

Arlington Capital Acquires Pond & Company. Arlington Capital Partners, a private investment firm focused on government-regulated industries, has acquired Pond & Company. The business provides design and engineering services for federal government customers and other clients in the energy, infrastructure, and life sciences spaces.

Gryphon Acquires Safety Management Group. Gryphon Investors announced recently its acquisition of Safety Management Group. The company provides outsourced safety services. Gryphon acquired the company from its previous sponsor, NMS Capital.

Varsity Healthcare Invests in Trialbee. Varsity Healthcare Partners, a lower middle-market private equity firm focused on the healthcare services space, announced its investment in Trialbee. The company, based in Sweden, is a tech-enabled patient recruitment services and analytics provider servicing the clinical trial market.

WindRose Health Backs Avalon Healthcare. WindRose Health Investors, a private equity firm focused on the healthcare market, has acquired Avalon Healthcare Solutions. Avalon integrates laboratory science and data to support health plan clients. Existing investor Francisco Partners made an additional investment in the business, a press release noted.

Sheridan Capital Acquires ICANotes. Sheridan Capital Partners has completed its acquisition of ICANotes, a practice management and electronic health record software platform. The company services the behavioral health market.

TruArc Acquires Schill Grounds Management. TruArc Partners announced this week its acquisition of Schill Grounds Management. The company is a commercial landscaping provider operating across the Midwest and Mid-Atlantic regions. TruArc acquired the company from its previous sponsor Argonne Capital Group.

Neuberger Berman Takes Minority Stake in Ryan. Neuberger Berman Capital Solutions, along with funds managed by Neuberger Berman Private Markets, has acquired a minority stake in Ryan. The company provides global tax services and software.

Add-Ons

Godspeed’s Aurex Acquires Alpha 2. Aurex, a portfolio company of Godspeed Capital Partners that provides engineering, systems, solutions, and technologies across the aerospace, missile defense, and other end markets, has acquired Alpha 2. The company provides cryptographic engineering, cybersecurity, and engineering services for the U.S. space, defense, and intelligence communities.

Sheridan-Backed Currier Plastics Makes Two Acquisitions. Currier Plastics, a contract plastic manufacturer servicing the life sciences sector, has acquired Springboard Manufacturing and MOS Plastics. Springboard services the life sciences market, while MOS targets the pharmaceutical, medical technology, and diagnostics space. Currier is backed by Sheridan Capital Partners.

Godspeed’s BNP Acquires Airport Gurus. BNP Group, an air transportation design and engineering company, announced its acquisition of Airport Gurus. The company is a consultancy firm specializing in Information and Communication Technology for the airport business operations market. BNP is backed by Godspeed Capital Management.

Main Capital’s FleetGO Acquires DreamTec. FleetGO, a European logistics and telematics solutions provider, has acquired DreamTec Systems, an Ireland-based provider of telematics and fleet management solutions. FleetGO is backed by Main Capital Partners.

Clearlake Capital’s PrimeSource Acquires Advantage Industries. PrimeSource Brands, a provider of specialty branded building products and portfolio company of Clearlake Capital Group, acquired Advantage Industries, a press release said. Advantage provides gate and fence hardware solutions.

Renovus Capital’s Behavioral Framework Acquires Autism ETC. Behavioral Framework, a provider of applied behavior analysis (ABA) therapy backed by Renovus Capital Partners, has acquired Autism ETC. The company provides ABA therapy and autism diagnostic services.

Main Capital’s SoftProject Acquires dataspot. SoftProject, which provides business process management software, has made its second add-on acquisition as a platform backed by Main Capital Partners. The company acquired dataspot., a provider of metadata management and data governance solutions based in Austria.

Marlin-Backed Exegy Acquires NovaSparks. Marlin Equity Partners announced this week that its portfolio company Exegy has acquired NovaSparks. Exegy, a provider of low-latency market data and trading technology, will be merged with NovaSparks, which provides real-time market data normalization and distribution solutions.

Exits

Bain Capital Exits Tenax Aerospace. Special mission aircraft services provider Tenax Aerospace, which services the U.S. government and commercial clients, has completed its refinancing and buyout of its junior capital partner Bain Capital Credit, according to a recent press release. The transaction finalizes Bain Capital’s investment in the company and consolidates NTC Group’s ownership of Tenax, the announcement noted.

Fundraising

CF Private Equity Raises $187 Million. CF Private Equity announced this week the close of its fifth fund, CF Private Equity Co-Investment Opportunities V Fund. The private equity co-investment fund will focus on companies across two-to-three vintage years with a focus on small and middle-market growth equity investments. The firm secured $187 million in capital commitments.

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.