Investment Summary

Exits Lighthouse Global Network

On July 5, 2000, invested in business services company Lighthouse Global Network from Lake Capital and Frontenac for 421M USD

Investment Highlights
  • This is transaction in the Business Services sector.
  • This is largest (disclosed) transaction.
  • This is transaction in the United States.
  • This is transaction in New York.

Investment Summary

Date 2000-07-05
Target Lighthouse Global Network
Sector Business Services
Sellers(s) Lake Capital
Frontenac
Deal Type Trade Sale - Public Company
Deal Value 421M USD

Target

Lighthouse Global Network

New York, New York, United States
Lighthouse Global Network, Inc. was acquired by Cordiant Communications Group plc. Lighthouse Global Network, Inc. delivers design, communications, and marketing solutions to corporate customers in the United States and Europe. Its marketing services include branding/design, investor relations/public relations, and sales promotion.

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Seller(S) 2

SELLER

Lake Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1998
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Lake Capital is a private equity firm that targets a limited number of middle-market, service-based companies. The firm typically allocates $50 to $75 million equity to each portfolio company initiative. However, with seller financing, third-party debt, and co-investment opportunities, significant capital (in addition to the initial equity allocation) is available to each initiative. The service-based businesses the firm pursues include marketing services, finance-related services, specialty services, healthcare services, consumer services, technology services, business process outsourcing services, and marketing services. The firm is typically interested in buyout, partnership and start-up opportunities. Lake Capital was formed in 1998 and is based in Chicago, Illinois.


DEAL STATS #
Overall 4 of 23
Sector (Business Services) 1 of 9
Type (Trade Sale - Public Company) 1 of 9
State (New York) 1 of 2
Country (United States) 4 of 23
Year (2000) 1 of 1
Size (of disclosed) 2 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-02-24 Mastering

United States

In 1996, Mastering Computers, a leading information technology (IT) training company with nationwide operations, was acquired by Eagle River Interactive, a public company founded and led by Terry Graunke. Mastering Computers leveraged Eagle River's interactive development skills to create a computer-based training library of more than 300 titles. The company also drew on its public parent's financial assets to expand its product line significantly into higher-margin training products and to expand geographically into Europe.

Sell $139M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-11-01 DVC Worldwide

Morristown, New Jersey, United States

DVC Worldwide, Inc. was acquired by Aspen Marketing Services, Inc. DVC Worldwide, Inc. engages in the development, execution, management, and tracking of integrated programs across various marketing disciplines and creative media. It offers various services, including promotional marketing, customer and comarketing, experiential marketing, public relations, advertising, digital marketing, partnership and sponsorship marketing, direct and customer relationship management marketing, and consumer and marketing research. DVC Worldwide, Inc. is based in Morristown, New Jersey.

Buy $125M
SELLER

Frontenac

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1971
PE ASSETS 2.1B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Frontenac is a Midwest private equity firm that seek profitable, lower middle-market company investments with $5 to $20 million of EBITDA. Frontenac typically partners with management when pursuing acquisitions, including companies managed by owner-operators. Sectors of interest include financial services, healthcare services, education/HR services, manufacturing, publishing/media, and technology services. Frontenac was formed in 1971 and is based in Chicago, Illinois.


DEAL STATS #
Overall 15 of 57
Sector (Business Services) 2 of 9
Type (Trade Sale - Public Company) 2 of 16
State (New York) 1 of 2
Country (United States) 13 of 55
Year (2000) 1 of 2
Size (of disclosed) 2 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-10-16 Regent Lighting

Burlington, North Carolina, United States

Regent Lighting Corp. manufacturer of residential outdoor security lighting.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-09-25 Levy Restaurants

Chicago, Illinois, United States

Levy Restaurants is the leading national provider of specialty food service to sports and entertainment venues. It pioneered the concept of fine dining in stadium and arena environments, managing club and skybox dining for 30% of major U.S. stadiums.

Sell -