Investment Summary

Escalate Capital and Sorenson Capital Invest In AtTask

On October 30, 2012, mezzanine finance firm Escalate Capital and private equity firm Sorenson Capital invested in internet software and services company AtTask

Investment Highlights
  • This is Escalate Capital’s 5th and Sorenson Capital’s 4th transaction in the Internet Software and Services sector.
  • This is Escalate Capital’s 19th and Sorenson Capital’s 18th transaction in the United States.
  • This is Escalate Capital’s 1st and Sorenson Capital’s 11th transaction in Utah.

Investment Summary

Date 2012-10-30
Target AtTask
Sector Internet Software and Services
Investor(s) Escalate Capital
Sorenson Capital
Deal Type Venture

Target

AtTask

Lehi, Utah, United States
AtTask, Inc. provides software-as-a-service enterprise work management solutions. Its product AtTask is useful for the entire project management process, including request management, work planning, work execution, work communication, performance management, and work intelligence.

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Investor(S) 2

Investor

Escalate Capital

Austin, Texas, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2005
PE ASSETS 830M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Escalate Capital Partners is a private investment firm focused on providing capital to expansion and late-stage companies. The Firm focuses its investment activity within the technology, life sciences, and service-based industries. Prospective financing solutions include senior, subordinated and mezzanine debt. Escalate's target investment size is $5 to $30 million. Escalate Capital Partners has offices in Menlo Park, California and Austin, Texas.


DEAL STATS #
Overall 19 of 39
Sector: Internet Software and Services M&A 5 of 11
Type: Venture M&A Deals 11 of 17
State: Utah M&A 1 of 3
Country: United States M&A 19 of 39
Year: 2012 M&A 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-07 Peregrine Semiconductor

San Diego, California, United States

Peregrine Semiconductor Corp. designs and manufactures high-performance integrated circuits based on its patented commercial Ultra Thin Silicon (UTSi) CMOS process technology.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-07 Oblong

Denver, Colorado, United States

Oblong is a provider of cloud-based video collaboration services, network services, and business-class support services. The Company provides customers with a tailored mix of these services to fit each customer's needs. More than 1,000 different organizations in 96 countries use Glowpoint services to collaborate with colleagues, business partners, and customers more effectively.

Buy -
Investor

Sorenson Capital

Lehi, Utah, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Sorenson Capital is a private equity firm that seeks to support buyout and growth capital financings of lower middle-market companies. Sorenson invests across a broad range of industries and generally pursues companies with significant market share, high barriers to entry, fragmented industry competition, motivated managment, and sustainable pricing and profit margins. Target businesses typically have sales of $30 to $300 million with earnings of $3 to $25 million. Sorenson's geographic preference is for opportunities in the Mountain West and West Coast regions of the US. Sorenson raised its inaugural fund in 2004 and is based in Lehi, Utah.


DEAL STATS #
Overall 19 of 48
Sector: Internet Software and Services M&A 4 of 13
Type: Venture M&A Deals 1 of 12
State: Utah M&A 11 of 21
Country: United States M&A 18 of 46
Year: 2012 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-13 Michael s Finer Meats

Columbus, Ohio, United States

Michael's Finer Meats LLC (Michael's Finer Meats & Seafoods) is a specialty processor and distributor of meats and seafood headquartered in the Midwest. The company focuses on white-linen restaurants, country clubs, caterers, hotels, and others nationwide who value the highest quality proteins and exceptional service. Michael's is the nation's premier center-of-the-plate specialist and prides itself on supplying excellent and consistent products every time to every customer.

Sell $54M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-27 RWI Construction

Midland, Texas, United States

RWI is a provider of wellhead production and upstream infrastructure services to blue-chip oil and natural gas producers in the Permian Basin, one of the nation's most established and productive oil sources. The Company provides essential above-ground maintenance services for oil and natural gas well-sites, as well as the associated production gathering facilities and pipeline infrastructure. RWI Construction was formed in 1979 and is based in Midland, Texas.

Sell -