M&A Deal Summary

GI Partners and Ares Private Equity Group Acquire Bluepeak

On October 19, 2020, private equity firms GI Partners and Ares Private Equity Group acquired communications company Bluepeak from Pamlico Capital and Oak Hill Capital

Acquisition Highlights
  • This is GI Partners’ 3rd and Ares Private Equity Group’s 5th transaction in the Communications sector.
  • This is GI Partners’ 36th and Ares Private Equity Group’s 69th transaction in the United States.
  • This is GI Partners’ 1st and Ares Private Equity Group’s 1st transaction in South Dakota.

M&A Deal Summary
Date 2020-10-19
Target Bluepeak
Sector Communications
Buyer(s) GI Partners
Ares Private Equity Group
Sellers(s) Pamlico Capital
Oak Hill Capital
Deal Type Secondary Buyout
Advisor(s) RBC Capital Markets (Financial)
Alston & Bird (Legal)

Target

Bluepeak

Sioux Falls, South Dakota, United States
Bluepeak is a broadband/cable company providing high-speed internet, television, and digital telephone services for residential and business customers in South Dakota and southwestern Minnesota. Bluepeak was founded in 2014 and is based in Sioux Falls, South Dakota.

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Buyer(S) 2

Buyer

GI Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2001
PE ASSETS 42.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

GI Partners (Global Innovation Partners) is a private equity firm focused on control oriented investments in asset-backed businesses and properties located throughout North America and Western Europe. GI looks to invest up to $1500 million in companies generating predictable, recurring cash flows; underperforming businesses with intrinsic value; and direct asset investments with operational complexity. Sectors of interest include energy, education, healthcare services, leisure, retail, logistics, media, entertainment, financial services, technology, and telecommunications. GI Partners was formed in 2001 and has offices in San Francisco, Greenwich, and Chicago.

DEAL STATS #
Overall 47 of 59
Sector (Communications) 3 of 7
Type (Secondary Buyout) 19 of 22
State (South Dakota) 1 of 1
Country (United States) 36 of 47
Year (2020) 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-16 Sectigo

Scottsdale, Arizona, United States

Sectigo is a cybersecurity provider of digital identity solutions, including TLS/SSL certificates, DevOps, IoT, and enterprise-grade PKI management, as well as multi-layered web security. Sectigo partners with organizations of all sizes to deliver automated public and private PKI solutions for securing webservers, user access, connected devices, and applications. Sectigo was founded in 2017 and is based in Scottsdale, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-23 Valet Living

Tampa, Florida, United States

Valet Living is a provider of doorstep collection and recycling services, and also full-service amenities provider to the multifamily industry. Valet Living was founded in 1995 and is based in Tampa, Florida.

Buy -
Buyer

Ares Private Equity Group

Los Angeles, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2003
PE ASSETS 20.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ares Private Equity Group is the private equity arm of Ares Management, a global alternative asset manager. The Ares Private Equity Group specializes in opportunistic majority/shared control investments in under-capitalized middle-market companies. Ares looks for companies with strong franchises and attractive growth opportunities. The Group prefers to be the lead investor and will invest across the capital structure, including common equity, preferred equity, convertible equity/debt and senior debt. Areas of interest include business services, defense, healthcare, manufacturing, industrial, energy and consumer products and services. Ares Private Equity Group was formed in 2003 and is based in Los Angeles, California.

DEAL STATS #
Overall 81 of 98
Sector (Communications) 5 of 5
Type (Secondary Buyout) 32 of 39
State (South Dakota) 1 of 1
Country (United States) 69 of 82
Year (2020) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-12 WCA Waste

Houston, Texas, United States

WCA Waste Corp. is a full service, non-hazardous solid waste company providing collection and disposal services to commercial, industrial and residential customers.

Sell $1.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-01 Exemplar Health Care

Rotherham, United Kingdom

Exemplar Health Care provides person-centered, specialist nursing care, offering support to individuals in the UK living with complex physical and mental health needs, where the quality of care is paramount. The company’s homes, which are based across Yorkshire, Humberside, the Midlands, the North East, and the North West, focus on improving the lives of adults living with mental health conditions, neuro-disabilities, complex dementia, autism, and learning disabilities, as well as those suffering from brain injury, spinal injury, and stroke. It provides customized, person-centered nursing care facilitates therapeutic engagement and aims to succeed where other care providers have failed. Exemplar Health Care was formed in 2003 and is based in Rotherham.

Buy -

Seller(S) 2

SELLER

Pamlico Capital

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Pamlico Capital is a private equity group focused on mid-sized transactions. Pamlico looks to invest $25 to $125 million per transaction. Sectors of interest include business and technology services, consumer products/services, industrial, energy, financial services, healthcare, media, and communications. Pamlico will consider both minority and majority positions. Prospective transactions include management or leveraged buyouts, recapitalizations, growth financings, mezzanine, and special situations. Pamlico was formerly known as Wachovia Capital Partners. The Firm was originally formed in 1988 and is based in Charlotte, North Carolina.

DEAL STATS #
Overall 53 of 61
Sector (Communications) 8 of 8
Type (Secondary Buyout) 19 of 21
State (South Dakota) 1 of 1
Country (United States) 51 of 59
Year (2020) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-16 ISAAC

Saint-Bruno-de-Montarville, Quebec, Canada

ISAAC provides a fleet management technology platform for heavy duty trucking. ISAAC’s solution integrates with a truck’s existing systems to provide routing and cargo detail as well as driver coaching, which increases fuel efficiency, reduces workloads for drivers, and improves driver safety. ISAAC was founded in 1999 and is based in Saint-Bruno-de-Montarville, Quebec.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-14 Protera

Westchester, Illinois, United States

Protera is a provider of public cloud-centric application management and migration services for SAP software, as well as other enterprise IT outsourcing services. Protera was founded in 1998 and is based in Westchester, Illinois.

Buy -
SELLER

Oak Hill Capital

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1986
PE ASSETS 9.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Oak Hill Capital Partners was originally formed as the private equity investment vehicle for Robert Bass and in 1999, opened up to outside investors and raised its first private equity fund. Oak Hill looks to invest in middle-market companies and focuses its efforts within six industry groups. The six groups include basic industries; business and financial services; consumer, retail, and distribution; healthcare; media and telecom; and technology. Oak Hill targets businesses with defensible business models, strong market positions, and 'best-in-class' management. Oak Hill Capital was formed in 1986 and has offices in Stamford, Connecticut; Menlo Park, California; and New York City.

DEAL STATS #
Overall 51 of 55
Sector (Communications) 6 of 6
Type (Secondary Buyout) 10 of 11
State (South Dakota) 1 of 1
Country (United States) 43 of 46
Year (2020) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-27 GoNetspeed

Rochester, New York, United States

GoNetspeed is a full service telecommunications provider, offering a wide array of communication services. The company’s services include local and long distance telephone, digital high-speed data lines, transport services, network access, cable television and other related services. GoNetspeed was founded in 1998 and is based in Rochester, New York.

Buy $106M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-04 Race Communications

San Francisco, California, United States

Race Communications is a telecommunications and technology company, offering a full range of communications services. Race focuses its efforts on building top-tier networks that service 25,000 homes, small businesses and Fortune 500 companies alike. Race Communications is based in San Francisco, California.

Buy -
Mergr

Product

Company

Legal