Investment Summary

Exits Mastering

On February 24, 1998, invested in information technology company Mastering from Lake Capital and Frontenac for 139M USD

Investment Highlights
  • This is transaction in the Information Technology sector.
  • This is largest (disclosed) transaction.
  • This is transaction in the United States.

Investment Summary
Date 1998-02-24
Target Mastering
Sector Information Technology
Sellers(s) Lake Capital
Frontenac
Deal Type Trade Sale
Deal Value 139M USD

Target

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.

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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 3 of 23
Sector (Information Technology) 2 of 3
Type (Trade Sale) 2 of 6
Country (United States) 3 of 23
Year (1998) 1 of 1
Size (of disclosed) 3 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-01-01 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.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-07-05 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.

Sell $421M
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 10 of 57
Sector (Information Technology) 1 of 7
Type (Trade Sale) 4 of 7
Country (United States) 8 of 55
Year (1998) 1 of 2
Size (of disclosed) 6 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-01-01 ProMach

Covington, Kentucky, United States

ProMach is a provider of complete packaging machinery solutions, engineering and integration services, and related aftermarket products and services. ProMach brands operate across the entire packaging spectrum: filling and capping, flexibles, pharma, product handling, labeling and coding, and end of line. ProMach also provides Performance Services including integrated solutions, design/build, engineering services, and productivity software to optimize packaging line design and deliver maximum uptime.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1998-12-08 1105 Media

Woodland Hills, California, United States

1105 Media is an operator of a business-to-business media company targeting the information technology community. The company delivers relevant and targeted news on technology, products, policy, and regulation through an assortment of media, including print and online magazines, journals, and newsletters; seminars, conferences, executive summits, and trade shows; training and courseware; and Web-based services. 1105 Media was founded in 1998 and is based in Woodland Hills, California.

Buy -
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