Investment Summary

TPE Boulder, Pleasant Bay Capital Partners, Citizens Capital, W Capital Partners and 3i Private Equity Invest In Brainshark

On June 13, 2005, private equity firm TPE Boulder, private equity firm Pleasant Bay Capital Partners, private equity firm Citizens Capital, secondary investor W Capital Partners and private equity firm 3i Private Equity invested in internet software and services company Brainshark

Investment Highlights
  • This is TPE Boulder’s 2nd, Pleasant Bay Capital Partners’ 1st, Citizens Capital’s 1st, W Capital Partners’ 1st and 3i Private Equity’s 3rd transaction in the Internet Software and Services sector.
  • This is TPE Boulder’s 7th, Pleasant Bay Capital Partners’ 2nd, Citizens Capital’s 7th, W Capital Partners’ 3rd and 3i Private Equity’s 3rd transaction in the United States.
  • This is TPE Boulder’s 2nd, Pleasant Bay Capital Partners’ 1st, Citizens Capital’s 4th, W Capital Partners’ 1st and 3i Private Equity’s 1st transaction in Massachusetts.
Investment Fate
  • Brainshark was sold to a strategic buyer in 2021.

Investment Summary
Date 2005-06-13
Target Brainshark
Sector Internet Software and Services
Investor(s) TPE Boulder
Pleasant Bay Capital Partners
Citizens Capital
W Capital Partners
3i Private Equity
Deal Type Venture

Target

Brainshark

Waltham, Massachusetts, United States
Brainshark provides web-based applications that enable users to communicate more quickly and effectively using voice-enriched on demand presentations that can be created and viewed at each person's own schedule and convenience. Brainshark was founded in 1997 and is based in Waltham, Massachusetts.

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Investor(S) 5

Investor

TPE Boulder

Braintree, Massachusetts, United States
Category Private Equity Firm
Founded 1997
PE ASSETS 200M USD
Size Small
Type Sector Agnostic
DESCRIPTION

TPE Boulder is a private equity firm focused on small buyout and growth equity investments in profitable healthcare and software companies. TPE will consider minority or control positions and targets companies with $4 to $40 million in revenue and at least $1.5 million of EBITDA. Specific areas of interest include healthcare services, healthcare IT, healthcare payment management systems, enterprise software, SaaS, and Internet B2B companies. TPE Boulder was formed in 1997 and has offices in Braintree, Massachusetts, and Boulder, Colorado.

DEAL STATS #
Overall 7 of 25
Sector (Internet Software and Services) 2 of 3
Type (Venture) 4 of 12
State (Massachusetts) 2 of 4
Country (United States) 7 of 25
Year (2005) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-05-06 ALN Medical Management

Littleton, Colorado, United States

ALN is a nationwide provider of outsourced revenue cycle management and information technology services to physician practices. ALN has established a firm leadership position in the industry and is capitalizing on the coming consolidation of the physician billing industry.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-01 HealthDataInsights

Las Vegas, Nevada, United States

HealthDataInsights, Inc., is a technology enabled healthcare services company whose mission is to ensure claims integrity, identifies and recoups improper payments for health plans and government payers.

Buy -
Investor

Pleasant Bay Capital Partners

Investor Investor

Category Private Equity Firm
Founded 2012
Size Small
Type Sector Agnostic
DESCRIPTION

Pleasant Bay Capital Partners is a merchant bank focused on investments in profitable, lower middle-market companies in the healthcare, technology, business services, consumer, and industrial products/services sectors. Prospective transaction situations include buyouts, growth capital financings, recapitalizations, shareholder liquidity needs, and buyouts. Pleasant Bay Capital Partners was established in 2012 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 2 of 9
Sector (Internet Software and Services) 1 of 1
Type (Venture) 2 of 3
State (Massachusetts) 1 of 2
Country (United States) 2 of 9
Year (2005) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-10-01 Aptara

Falls Church, Virginia, United States

Aptara, Inc. is a content outsourcing firm. Aptara Knowledge Process Outsourcing (KPO) significantly enhances the ability to increase revenues and improve costs for companies that produce, manage, and disseminate high volumes of product, service or other content.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-15 Aptara

Falls Church, Virginia, United States

Aptara, Inc. is a content outsourcing firm. Aptara Knowledge Process Outsourcing (KPO) significantly enhances the ability to increase revenues and improve costs for companies that produce, manage, and disseminate high volumes of product, service or other content.

Sell $45M
Investor

Citizens Capital

Boston, Massachusetts, United States
Category Private Equity Firm
Founded 1997
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Citizens Capital is the private equity affiliate of Citizens Financial and provides both mezzanine and equity capital to later-stage privately-held companies in the US. Citizens looks to commit $3 to $15 million in subordinated debt transactions and $1 to $3 million for growth equity needs. Target sectors include manufacturing, consumer products, distribution, and service-based industries. The Firm's investment horizon is five to seven years. Citizens Capital is based in Boston, Massachusetts.

DEAL STATS #
Overall 7 of 8
Sector (Internet Software and Services) 1 of 1
Type (Venture) 4 of 4
State (Massachusetts) 4 of 4
Country (United States) 7 of 8
Year (2005) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-09-01 Courion

Westborough, Massachusetts, United States

Courion Corp. is a provider of identity governance and administration solutions to manage access risk and maintain compliance.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-07-26 Norcross Safety Products

Cranston, Rhode Island, United States

Norcross Safety Products a designer, manufacturer and marketer of branded products in the personal protection equipment industry. The Company manufactures and markets a full line of personal protection equipment for workers in the general safety, domestic preparedness, fire service and utility/high voltage industries. The Company sells products under trusted, long-standing and well-recognized brand names, including North, Morning Pride, Ranger, Servus, Pro-Warrington and Salisbury.

Sell $472M
Investor

W Capital Partners

Investor Investor Investor Investor Investor

Category Secondary Investor
Founded 2001
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

W Capital Partners is a private investment group focused on direct secondary investments. W Capital Partners has a particular interest in growth equity secondary investments as well as buyout minority secondary investments, where existing shareholders are looking for liquidity. W Capital Partners is based in New York City.

DEAL STATS #
Overall 3 of 20
Sector (Internet Software and Services) 1 of 6
Type (Venture) 2 of 6
State (Massachusetts) 1 of 1
Country (United States) 3 of 20
Year (2005) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-01-01 Ancestry

Provo, Utah, United States

Ancestry.com is a provider of family history and consumer genomics information, and helps people gain a new level of understanding about their lives. The Company's suite of history products include Archives, Fold3, Newspapers.com, AncestryDNA, and AncestryHealth. Ancestry.com was formed in 1990 and is based in Provo, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-24 First Data

Atlanta, Georgia, United States

First Data is a provider of electronic commerce and payment solutions for merchants, financial institutions and card issuers. First Data was formed in 1989 and is based in Atlanta, Georgia.

Buy $29.0B
Investor

3i Private Equity

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1945
PE ASSETS 16.7B GBP
Size Mega
Type Sector Agnostic
DESCRIPTION

3i Private Equity is the private equity arm of 3i Group, a publicly held, global investment firm focused on private equity and infrastructure investing. 3i Private Equity generally targets buyout and growth capital financings and looks for opportunities across Europe, North America, and Asia. The Firm's targeted transaction range is €100 to €500 million. Industries of interest include business services, healthcare, consumer, media, oil/gas & power, technology, and financial services. 3i Group was originally formed in 1945 and is based in London.

DEAL STATS #
Overall 105 of 249
Sector (Internet Software and Services) 3 of 5
Type (Venture) 4 of 4
State (Massachusetts) 1 of 1
Country (United States) 3 of 18
Year (2005) 18 of 33
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-06-09 SIA Groupe

Le Pré-Saint-Gervais, France

SIA produces a wide range of products such as artificial plants and flowers, vases, table decorations, furniture, lamps, bed and table linen, candles and candlesticks, home fragrances, kitchen accessories and a range of bathroom products. SIA Groupe was founded in 1963 and is based in Le Pré-Saint-Gervais, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-07-01 SVP

Saint Ouen, France

SVP provides management consulting services to businesses and local governments. It offers legislation, finance, accounting, human resources, business life, and market consulting services. SVP was founded in 1999 and is headquartered in Saint Ouen, France.

Sell -
Mergr

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