Investment Summary

Alta Equity Partners, Banyan Investment Partners, Capitala Group and Harbert Private Capital Exits Highwinds

On February 6, 2017, StackPath invested in information technology company Highwinds from Alta Equity Partners, Banyan Investment Partners, Capitala Group and Harbert Private Capital

Investment Highlights
  • This is StackPath’s 2nd transaction in the Information Technology sector.
  • This is StackPath’s 4th transaction in the United States.
  • This is StackPath’s 1st transaction in Florida.

Investment Summary

Date 2017-02-06
Target Highwinds
Sector Information Technology
Investor(s) StackPath
Sellers(s) Alta Equity Partners
Banyan Investment Partners
Capitala Group
Harbert Private Capital
Deal Type Add-on Acquisition

Target

Highwinds

Winter Park, Florida, United States
Highwinds is a multi-platform IP services provider that specializes in software, content delivery network and IP infrastructure services (transport, hosting and storage). Highwinds is based in Winter Park, Florida.

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Investor(S) 1

Investor

StackPath

Dallas, Texas, United States

Category Company
Sector Information Technology
DESCRIPTION

StackPath is the intelligent Web services platform for security, speed and scale. It is the first platform to unify enterprise security solutions by leveraging collaborative intelligence that makes each service smarter and more secure with every threat detected, in addition to vastly improving the customer experience. StackPath technology is based in Dallas, Texas.


DEAL STATS #
Overall 5 of 5
Sector: Information Technology M&A 2 of 2
Type: Add-on Acquisition M&A Deals 5 of 5
State: Florida M&A 1 of 1
Country: United States M&A 4 of 4
Year: 2017 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-25 MaxCDN

Los Angeles, California, United States

MaxCDN LLC is a provider of content delivery network that is built on Varnish and Nginx, and uses caching technology to accelerate websites and applications.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-24 StackPath - Select Enterprise Customer Contracts

Dallas, Texas, United States

StackPath's Select Enterprise Customer Contracts provides web services.

Sell -

Seller(S) 4

SELLER

Alta Equity Partners

Concord, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
Size Small
Type Sector Agnostic
DESCRIPTION

Alta Equity Partners is a private equity firm focused on acquiring lower middle-market, US-based companies. The Firm is a generalist investor but targets companies exhibiting recurring revenue business models, low capital intensity, proven management, and opportunities for growth. Prospective transaction situations of interest include recapitalizations, management buyouts, divestitures, and special situations. Alta Equity Partners was formerly known as Alta Communications. Alta Communications was formed in 1989 and the Firm changed its name to Alta Equity Partners in 2010. Alta Equity Partners is based in Concord, Massachusetts.


DEAL STATS #
Overall 45 of 45
Sector: Information Technology M&A 2 of 2
Type: Add-on Acquisition M&A Deals 36 of 36
State: Florida M&A 5 of 5
Country: United States M&A 43 of 43
Year: 2017 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-01 Triple H Food Processors

Riverside, California, United States

Triple H Food Processors is a food processor and co-packer of a wide variety of branded and private label products for food companies, grocery stores, and restaurants. Triple H Food Processors was founded in 1976 and is based in Riverside, California.

Buy -
SELLER

Banyan Investment Partners

Miami, Florida, United States

Investor


Category Mezzanine Finance Firm
Founded 2002
PE ASSETS 550M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Banyan is a specialty finance firm that provides mezzanine capital to smaller middle-market companies headquartered primarily in the Southeast US. Banyan looks to invest $5 to $25 million of junior capital in profitable companies. The Firm does not have any industry preferences, however, Banyan will not invest in real estate development, oil and gas exploration, direct lenders, start-ups or turn-around situations. Banyan Mezzanine was formed in 2002 and is based in Miami, Florida.


DEAL STATS #
Overall 14 of 22
Sector: Information Technology M&A 2 of 3
Type: Add-on Acquisition M&A Deals 8 of 14
State: Florida M&A 5 of 7
Country: United States M&A 14 of 22
Year: 2017 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-01 Global Connection

Atlanta, Georgia, United States

Global Connection Inc. of America is a direct marketing company selling prepaid wireline phone and other services to low-income consumers with poor credit. Global Connection was founded in 1998 and is based in Atlanta, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-26 Solesbee s Equipment & Attachments

Douglasville, Georgia, United States

Solesbee's Equipment & Attachments, Inc. is a manufacturer of attachments for excavators, skid steers, front-end loaders, bull dozers and other equipment. The industry’s most demanding users have relied on Solesbee’s premium attachments since 1997. The Company’s employees are proud of Solesbee’s reputation for quality and durability and are excited to join the Business Area Demolition & Tools division of Lifco to further develop Solesbee’s expertise in design, engineering and manufacturing.

Sell -
SELLER

Capitala Group

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1998
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Capitala Group is an asset manager that provides equity and mezzanine capital to mid-sized companies valued up to $250 million. Funds are generally used to support growth needs, add-on acquisitions, management/leveraged buyouts, and recapitalizations. Capitatala will invest across the US, but generally targets opportunities located in the Southeast. Industry preferences include building products, business services, consumer/reteail, general industrial, healthcare, and technology. Prospective companies typically have revenues greater than $10 million and EBITDA of at least $3 million. Capitala was formed in 1998 and is headquartered in Charlotte, North Carolina.


DEAL STATS #
Overall 29 of 56
Sector: Information Technology M&A 3 of 5
Type: Add-on Acquisition M&A Deals 10 of 20
State: Florida M&A 1 of 3
Country: United States M&A 28 of 55
Year: 2017 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-30 Currency Capital

Los Angeles, California, United States

Currency Capital is an equipment financing exchange serving owners of small- and medium-sized companies. Currency Capital’s online portal enables business owners to receive competitively priced loans for equipment purchases.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-04 Matilda Jane Clothing

Fort Wayne, Indiana, United States

Matilda Jane Clothing is a designer and provider of specialty apparel and accessories for girls, babies, tweens and women. The Company distributes its products through a network of Trunk Keepers that sell through in-home events in all 50 states. Matilda Jane has a differentiated brand that is whimsical and playful, embodying the spirit and imagination of childhood through its unique designs and silhouettes. Matilda Jane Clothing was founded in 2002 and is based in Fort Wayne, Indiana.

Sell -
SELLER

Harbert Private Capital

Birmingham, Alabama, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1985
PE ASSETS 4.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Harbert Private Equity and Mezzanine is a private equity arm of Harbert Management Corp. The Private Equity group targets leveraged buyouts, recapitalizations, expansion capital investments, and distressed situations. The firm targets opportunities across a range of industries and typical transactions have enterprise values between A$10 and A$100 million. The Mezzanine Capital group seeks subordinated debt investments and can commit $3 to $15 million per transaction. . Harbert Management Corporation was formed in 1985 and has offices in Birmingham, Alabama; New York, New York; Nashville, Tennessee; Richmond, Virginia; London; Madrid; Paris; and Melbourne.


DEAL STATS #
Overall 32 of 44
Sector: Information Technology M&A 1 of 5
Type: Add-on Acquisition M&A Deals 19 of 27
State: Florida M&A 4 of 5
Country: United States M&A 31 of 43
Year: 2017 M&A 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-01 Global Connection

Atlanta, Georgia, United States

Global Connection Inc. of America is a direct marketing company selling prepaid wireline phone and other services to low-income consumers with poor credit. Global Connection was founded in 1998 and is based in Atlanta, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-10 Back Yard Burgers

Nashville, Tennessee, United States

Back Yard Burgers is a fast casual, better-burger concept that takes pride in its commitment to providing custom, flame-grilled burgers and sandwiches with care. The company's franchise partners and employees are passionate about offering fresh ingredients, allowing their guests to customize their meals and serve the same high-quality food they would offer at home to their own family. Back Yard Burgers was founded in 1987 and is based in Nashville, Tennessee.

Sell -