Investment Summary

Exits AWS Convergence Technologies

On September 29, 2010, invested in communications company AWS Convergence Technologies from Allegiance Capital Limited Partnership and Patriot Capital

Investment Highlights
  • This is transaction in the Communications sector.
  • This is transaction in the United States.
  • This is transaction in Maryland.

Investment Summary

Date 2010-09-29
Target AWS Convergence Technologies
Sector Communications
Sellers(s) Allegiance Capital Limited Partnership
Patriot Capital
Deal Type Merger

Target

AWS Convergence Technologies

Germantown, Maryland, United States
website
AWS Convergence Technologies, Inc., which operates under the brand name Weatherbug, owns and operates the largest network of weather stations in the world. This live network gathers comprehensive, up-to-the-second weather information from more than 6,200 communities and powers the company's various products and services.

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Seller(S) 2

SELLER

Allegiance Capital Limited Partnership

Cockeysville, Maryland, United States

website


Category Private Equity Firm
Founded 1999
PE ASSETS 45M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Allegiance Capital is a private investment firm that seeks to provide later-stage growth capital to companies in the mid-Atlantic US. The firm targets investments that lie within a 150-mile radius of Baltimore, Maryland. Allegiance Capital focuses on a variety of transaction structures, including expansion-stage private financings, management buyouts, leveraged buyouts, recapitalizations, and roll-ups. In general Allegiance Capital's investments range from $1 to $3 million. Smaller investments are considered on a case-by-case basis. The firm will consider investing as a member of a larger syndicate, as either lead investor or as a participant. The majority of the firm's investments are in companies that are experiencing significant growth - either organic growth or through acquisitions. The firm does not pursue start-up opportunities and does not take an active role in day-to-day management operations. Allegiance Capital Limited Partnership is a SBIC and was formed in 1999.


DEAL STATS #
Overall 5 of 5
Sector (Communications) 1 of 1
Type (Merger) 2 of 2
State (Maryland) 3 of 3
Country (United States) 5 of 5
Year (2010) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-01 Precision Motor Transport Group

Okemos, Michigan, United States

Precision Motor Transport Group LLC (PMTG) is an automobile carrier focused exclusively on transporting premier luxury brand vehicles through its owned fleet of custom enclosed truck-trailer combinations. Precision Motor Transport Group was founded in 1992 and is based in Okemos, Michigan.

Sell -
SELLER

Patriot Capital

Baltimore, Maryland, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Size Large
Type Sector Agnostic
DESCRIPTION

Patriot Capital is a private investment firm that provides equity and junior capital to support acquisitions, growth capital financings, management buyouts, and recapitalizations of middle-market companies. The Firm looks to invest $3 to $20 million in businesses generating revenues of $10 to $200 million. Areas of interest include business and consumer services, consumer products, niche manufacturing and distribution, education, e-commerce, application software, transportation, and telecom services. Patriot focuses its investment activity with the Mid-Atlantic, Midwest, and Southern areas of the US. Patriot Capital is based in Baltimore, Maryland.


DEAL STATS #
Overall 8 of 45
Sector (Communications) 1 of 3
Type (Merger) 1 of 2
State (Maryland) 2 of 6
Country (United States) 8 of 45
Year (2010) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-01 Cutex Brands

Festus, Missouri, United States

Cutex Brands LLC is a producer of nail polish removers and nail treatments, sold through drug stores, mass merchandisers, supermarkets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-12 KLMK Group

Richmond, Virginia, United States

KLMK Group is a provider of facility consulting, project advisory and facility activation solutions to the healthcare industry. The company, which is based in Richmond, Virginia, serves healthcare systems throughout the U.S.

Buy -