Growth Capital • Internet Software and Services

Kayne Anderson Capital Advisors Invests In Next Century

On January 1, 2020, asset manager Kayne Anderson Capital Advisors invested in internet software and services company Next Century

Investment Context
  • This is Kayne Anderson Capital Advisors’ 14th transaction in the Internet Software and Services sector.
  • This is Kayne Anderson Capital Advisors’ 149th transaction in the United States.
  • This is Kayne Anderson Capital Advisors’ 4th transaction in Utah.

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Investment Summary

Date January 1, 2020
Target Next Century
Sector Internet Software and Services
Investor(s) Kayne Anderson Capital Advisors
Deal Type Growth Capital

Target Company

Next Century

Providence, Utah, United States
Next Century is a submetering and utility billing technology provider with proprietary hardware, primarily focused on the multifamily real estate market. The company manufactures proprietary IoT devices that can capture water and energy usage at the meter level and store that data in a cloud-based system that is accessible to the utility billing service providers than can leverage this data to prepare individualized billing statements. Next Century is based in Providence, Utah.
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Investor Overview 1

Investor

Kayne Anderson Capital Advisors

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1984
PE ASSETS 36.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kayne Anderson Capital Advisors is an alternative investment management firm focused on hedge funds, public funds, energy private equity, growth private equity, real estate private equity, and mezzanine finance opportunities. Kayne's energy private equity group focuses on $20 to $100 million investments in high-growth exploration and production, midstream and oilfield service companies. The energy group considers both majority or minority stakes in public and private businesses. Kayne's growth private equity practice involves structured investments in public and private companies looking for capital to finance expansion. This group will also consider middle-market leveraged transactions and management buyouts. Kayne's real estate private equity group invests in established, cash-flow generating projects. Areas of interest include student housing and campus-oriented retail properties, amongst other opportunistic investments. The Group looks for acquisitions of $25 to $100 million. Kayne's mezzanine team looks to provide $20 to $35 million of capital for mid-market businesses with $100 to $500 million of sales and $10 to $50 million of EBITDA. Kayne Capital Advisors was formed in 1984 and is based in Los Angeles with additional offices in Armonk, New York; New York City, and Houston.


Deal Context for Investor #
Overall 165 of 178
Sector: Internet Software and Services 14 of 15
Type: Growth Capital 46 of 52
State: Utah 4 of 4
Country: United States 149 of 161
Year: 2020 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-24 3Cinteractive

Boca Raton, Florida, United States

3Cinteractive LLC is a provider of could-based mobile commerce solutions that helps businesses drive a stronger and more effective engagement with their consumers. 3Cinteractive LLC was founded in 2005 and is based in Boca Raton, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-06 Fulcrum

San Francisco, California, United States

Fulcrum is a provider of geospatial intelligence software solutions from data, technology, and analytics to reveal the unknown. Fulcrum was founded in 2000 and is based in San Francisco, California.

Buy -