Investment Summary

TCV, GFI Energy Ventures and Oaktree Capital Management Invest In SPL WorldGroup

On October 19, 2004, private equity firm TCV, private equity firm GFI Energy Ventures and asset manager Oaktree Capital Management invested in business services company SPL WorldGroup

Investment Highlights
  • This is TCV’s 1st, GFI Energy Ventures’ 2nd and Oaktree Capital Management’s 2nd transaction in the Business Services sector.
  • This is TCV’s 19th, GFI Energy Ventures’ 11th and Oaktree Capital Management’s 18th transaction in the United States.
  • This is TCV’s 9th, GFI Energy Ventures’ 4th and Oaktree Capital Management’s 6th transaction in California.
Investment Fate
  • SPL WorldGroup was sold to a publicly-traded strategic buyer in 2006.

Investment Summary

Date 2004-10-19
Target SPL WorldGroup
Sector Business Services
Investor(s) TCV
GFI Energy Ventures
Oaktree Capital Management
Deal Type Venture

Target

SPL WorldGroup

San Francisco, California, United States
SPL WorldGroup, Inc. is a provider of customer management solutions to the energy and service related industries in regulated and competitive markets worldwide.

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Investor(S) 3

Investor

TCV

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 21.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Technology Crossover Ventures (TCV) is a private equity and venture capital firm focused on investments in growth technology companies. TCV looks to provide capital for growth, recapitalizations, acquisitions, and buyouts of technology companies in sectors such as internet, financial technology, infrastructure & communications, and software. TCV targets opportunities in North America and looks to commit between $10 and $500 million of equity capital per transaction. TCV was formed in 1995 and is based in Palo Alto, New York City, and London.


DEAL STATS #
Overall 20 of 85
Sector: Business Services M&A 1 of 4
Type: Venture M&A Deals 14 of 30
State: California M&A 9 of 20
Country: United States M&A 19 of 70
Year: 2004 M&A 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-08-20 thinkorswim

Chicago, Illinois, United States

thinkorswim, Inc. is a provider of professional-level trading software, asset management and trade execution services for the options industry.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-12-16 GTA Travel

Los Angeles, California, United States

GTA Travel provides travel services. The Company offers hotel accommodation, ground travel products, and related services to the travel trade.

Sell $1.1B
Investor

GFI Energy Ventures

Los Angeles, California, United States

Category Private Equity Firm
Founded 1995
PE ASSETS 1.8B USD
Size Large
Type Sector Focused
DESCRIPTION

GFI Energy Ventures is a specialist private investment firm focused on businesses surrounding the energy industry. GFI generally looks to acquire a controlling or significant interest in private companies or business units of public companies. Energy sub-sectors of interest include power quality/power conversion; energy measurement and control; transmission and distribution optimization; and information systems/transaction support. GFI seeks opportunities with at least $50 million in revenue and valued up to $500 million. The Firm will not invest in start-ups, turnarounds, unproven technology, or investments requiring less than $30 million of equity capital. GFI Energy Ventures was formed in 1995 and is based in Los Angeles, California. GFI Energy Ventures was acquired by Oaktree Capital Management in 2009.


DEAL STATS #
Overall 13 of 32
Sector: Business Services M&A 2 of 5
Type: Venture M&A Deals 1 of 2
State: California M&A 4 of 5
Country: United States M&A 11 of 30
Year: 2004 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-09-10 RealEnergy

Yountville, California, United States

RealEnergy, Inc. is an installed, owned, and operated on-site generation equipment/systems in Class A commercial office buildings.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-01 Cannon Technologies

Minneapolis, Minnesota, United States

Cannon Technologies, Inc. is a developer and marketer of measurement and control products aimed at helping utilities improve the utilization, reliability and cost effectiveness of their transmission and distribution systems.

Buy -
Investor

Oaktree Capital Management

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1995
PE ASSETS 26.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Oaktree Capital Management LLP is a global alternative investment firm with a variety of investment strategies spanning corporate debt, convertible securities, distressed debt, control investing, real estate, and public investing. The Firm's control investing group is spread across several disciplines, including Global Principal, European Principal, Power, and Infrastructure. Oaktree was formed in 1995 and is based in Los Angeles.


DEAL STATS #
Overall 20 of 129
Sector: Business Services M&A 2 of 11
Type: Venture M&A Deals 1 of 3
State: California M&A 6 of 15
Country: United States M&A 18 of 83
Year: 2004 M&A 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-09-22 Bristol Farms

Carson, California, United States

Bristol Farms, Inc. is a grocery retailer of gourmet, organic, and natural foods.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-11-01 Tumi

South Plainfield, New Jersey, United States

Tumi is a manufacturer and supplier of travel suitcases and bags.

Sell $276M