Investment Summary

Sunstone Partners, Camden Partners, Level Equity and HGGC Invest In Stova

On June 17, 2021, growth capital firm Sunstone Partners, growth capital firm Camden Partners, private equity firm Level Equity and private equity firm HGGC invested in information technology company Stova

Investment Highlights
  • This is Sunstone Partners’ 5th, Camden Partners’ 3rd, Level Equity’s 3rd and HGGC’s 3rd transaction in the Information Technology sector.
  • This is Sunstone Partners’ 10th, Camden Partners’ 36th, Level Equity’s 36th and HGGC’s 37th transaction in the United States.
  • This is Sunstone Partners’ 1st, Camden Partners’ 4th, Level Equity’s 1st and HGGC’s 1st transaction in Maryland.

Investment Summary

Date 2021-06-17
Target Stova
Sector Information Technology
Investor(s) Sunstone Partners
Camden Partners
Level Equity
HGGC
Deal Type Growth Capital
Advisor(s) Mirus Capital Advisors (Financial)

Target

Stova

Frederick, Maryland, United States
Stova is a technology company focused on creating innovative solutions for in-person, virtual, and hybrid events. With every meeting and event, Stova creates transformative experiences that enable their customers, attendees and sponsors to make valuable, face-to-face connections. Stova was founded in 2012 and is based in Frederick, Maryland.

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Investor(S) 4

Investor

Sunstone Partners

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2015
PE ASSETS 1.7B USD
Size Large
Type Sector Focused
DESCRIPTION

Sunstone Partners is a private investment firm focused on growth equity investments in and majority buyouts of tech companies. The Firm targets opportunities throughout North American and seeks businesses with at least $20 million in revenues and at least 20% of yearly growth. Sunstone Partners was formed in 2015 from a team that previously worked together at Trident Capital. The Firm is based in San Mateo, California.


DEAL STATS #
Overall 10 of 17
Sector: Information Technology M&A 5 of 8
Type: Growth Capital M&A Deals 9 of 13
State: Maryland M&A 1 of 1
Country: United States M&A 10 of 16
Year: 2021 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-20 66degrees

Chicago, Illinois, United States

66degrees provide services for both Google Cloud Platform and Google Workspace across clients’ cloud lifecycle, including Cloud Optimization, Professional Services, Support and Google Workspace License management. 66degrees was founded in 2010 and is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-30 Vcheck Global

New York, New York, United States

Vcheck Global is a provider of due diligence background investigations and protects the reputations and investments of companies around the world. Vcheck Global and its growing team of accomplished investigators, subject matter experts, in-house linguists, and client relationship associates can accommodate a variety of client needs and priorities with easily customized scopes and international service coverage. Vcheck Global is based in New York, New York.

Buy -
Investor

Camden Partners

Owings Mill, Maryland, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1995
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Camden Partners is a growth-oriented private investment firm focused on direct investments as well as structured capital solutions. Camden's direct private equity practice targets equity investments up to $15 million in businesses operating in the technology, software, business services, and education sectors. Prospective companies generally have proven management, proprietary products or high barriers to entry, recurring revenue, and proven business models. Camden Partners was formed in 1995 and is based in Baltimore, Maryland.


DEAL STATS #
Overall 37 of 38
Sector: Information Technology M&A 3 of 3
Type: Growth Capital M&A Deals 12 of 12
State: Maryland M&A 4 of 4
Country: United States M&A 36 of 37
Year: 2021 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-01 medSR

Brentwood, Tennessee, United States

medSR is a Healthcare Strategy and IT Consulting company that brings integrity, quality, and dependability when delivering outstanding services and value to Academic Institutions, Community Hospitals, Medical Practices, and Health Systems. Its services and solutions are evolving and adapting to fit the ever-changing landscape of the healthcare industry. medSR is based in Brentwood, Tennessee.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-16 Ceipal

Rochester, New York, United States

Ceipal is an AI-powered SaaS platform that provides full-lifecycle management of the talent acquisition process. Ceipal was founded in 2015 and is based in Rochester, New York.

Buy -
Investor

Level Equity

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2009
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Level Equity Management LLC is a private investment firm focused on providing equity and structured capital to growth businesses. Sectors of interest include e-commerce, healthcare services, IT, internet software, and media. Level Equity Management was formed in 2009 and is based in New York City.


DEAL STATS #
Overall 42 of 65
Sector: Information Technology M&A 3 of 5
Type: Growth Capital M&A Deals 18 of 26
State: Maryland M&A 1 of 2
Country: United States M&A 36 of 55
Year: 2021 M&A 6 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-15 uberall

Berlin, Germany

uberall is an online presence management platform for stores, restaurants, doctors, gas stations, museums, hospitals, police stations and any other type of local business or public institution to automatically optimise their online presence. uberall was founded in 2013 and is based in Berlin, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-24 Sunwave Health

Delray Beach, Florida, United States

Sunwave Health is a SaaS-based behavioral health platform for substance use disorder (SUD) treatment centers. Sunwave Health was founded in 2014 and is based in Delray Beach, Florida.

Buy -
Investor

HGGC

Palo Alto, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2007
PE ASSETS 8.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HGGC focuses on middle-market leveraged buyouts, growth equity financings, recapitalizations, take privates, and corporate divestitures. The Firm primarily targets North American companies, but will consider international opportunities as well. HGGC looks for companies with at least $100 million in revenue. HGGC primarily targets enterprise software companies, however, the Firm will also consider opportunities in business services, consumer services, financial services, healthcare, industrial services, and information services. HGGC was formed in 2007 and is based in Palo Alto, California.


DEAL STATS #
Overall 42 of 52
Sector: Information Technology M&A 3 of 3
Type: Growth Capital M&A Deals 13 of 17
State: Maryland M&A 1 of 1
Country: United States M&A 37 of 43
Year: 2021 M&A 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-01 FPX

Dallas, Texas, United States

FPX provides an omni-channel platform of cloud-based solutions that optimize and automate quote-to-order business processes, enabling large, global companies to sell complex products and services with incredible speed, efficiency and precision.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-11 Beauty Industry Group

Salt Lake City, Utah, United States

Beauty Industry Group is a supplier of hair extensions and related beauty products. The company sells direct to consumers as well as through a network of over 40 independent distributors throughout the US and Canada. It is dedicated to provide customers with the highest quality products available while also providing unmatched service and value. Beauty Industry Group was founded in 2004 and is based in Salt Lake City, Utah.

Sell -