M&A Deal Summary

Global Environment Fund Acquires Derive Systems

On September 26, 2013, asset manager Global Environment Fund acquired software company Derive Systems from Tillery Capital and Centerfield Capital Partners

Acquisition Highlights
  • This is Global Environment Fund’s 4th transaction in the Software sector.
  • This is Global Environment Fund’s 17th transaction in the United States.
  • This is Global Environment Fund’s 1st transaction in Florida.

M&A Deal Summary

Date 2013-09-26
Target Derive Systems
Sector Software
Buyer(s) Global Environment Fund
Sellers(s) Tillery Capital
Centerfield Capital Partners
Deal Type Secondary Buyout
Advisor(s) BB&T Capital Markets (Financial)

Target

Derive Systems

Sanford, Florida, United States
Derive Systems is a provider of calibration software in the automotive aftermarket industry. SCT’s software recalibrates engine and transmission systems to their optimal settings based on vehicle usage. Derive Systems was founded in 2003 and is based in Sanford, Florida.

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Buyer(S) 1

Buyer

Global Environment Fund

Bethesda, Maryland, United States

Investor Investor Investor


Category Asset Manager
Founded 1990
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Global Environment Fund (GEF) is a global alternative asset manager dedicated to the energy, environmental, and natural resources sectors. Global Environment Fund was formed in 1990 and is based in Chevy Case, Maryland.


DEAL STATS #
Overall 48 of 54
Sector: Software M&A 4 of 4
Type: Secondary Buyout M&A Deals 1 of 1
State: Florida M&A 1 of 1
Country: United States M&A 17 of 19
Year: 2013 M&A 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-24 Rishabh Instruments

Nashik, India

Rishabh Instruments is a manufacturer, designer and developer of Industrial Control Products and Test & Measurement Instruments, which have applications in power generation, transmission, consumption, control, protection and metering as well as in the instrumentation sector. Rishabh Instruments was founded in 1982 and is based in Nashik, Maharashtra.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-01 ReNew Power

Gurgaon, India

ReNew Power is an independent power producer (IPP) with an expanding portfolio of assets, delivering cleaner, smarter energy choices and reducing India’s carbon footprint. ReNew Power has utility-scale wind and solar energy projects as well as renewable energy projects catering to the energy requirements of commercial and industrial customers while helping reduce India’s carbon footprint. ReNew Power was founded in 2011 and is based in Gurgaon, Haryana.

Buy -

Seller(S) 2

SELLER

Tillery Capital

Charlotte, North Carolina, United States

Investor Investor Investor Investor


Category Family Office
Founded 2006
Size Small
Type Sector Agnostic
DESCRIPTION

Tillery Capital is an 'operationally-oriented' private equity firm that invests in and builds lower middle-market companies in partnership with management teams. Tillery makes control equity investments in companies whose annual EBITDA is greater than $2 million. Tillery prefers Southeast US based opportunities, but will consider opportunities across the US. Sectors of interest include agriculture, speciality chemicals, medical products, commercial/industrial services, niche manufacturing, environmental services, healthcare services, and distribution. Tillery Capital was formed in 2006 and has offices in Charlotte and Raleigh, North Carolina, and Indianapolis, Indiana.


DEAL STATS #
Overall 1 of 3
Sector: Software M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
State: Florida M&A 1 of 1
Country: United States M&A 1 of 3
Year: 2013 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-01 Activate Healthcare

Indianapolis, Indiana, United States

Activate Healthcare LLC is a provider of on-site healthcare services to the employees of medium-sized employers. Activate Healthcare was founded in 2009 and is based in Indianapolis, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-13 A&D Environmental Services

High Point, North Carolina, United States

A&D Environmental Services, Inc. is a provider of environmental and industrial service industry providing a full range of industrial, remediation, waste management, transportation and emergency response services.

Sell -
SELLER

Centerfield Capital Partners

Indianapolis, Indiana, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2001
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Centerfield Capital Partners is a private investment firm that provides subordinated debt and equity capital to mid-market companies. Prospective transactions include acquisition financings, management buyouts, shareholder liquidity needs, recapitalizations, corporate divestitures, ESOP financings, and sponsored/unsponsored transactions. Centerfield generally invests in companies with sales of $15 to $100 million and EBITDA of $3 to $15 million. Target sectors include manufacturing, business services, healthcare services, and transportation/distribution. Centerfield will not invest in early stage businesses, turnaround situations, retail, real estate, and finance companies. Centerfield Capital Partners was founded in 2001 and is based in Indianapolis, Indiana.


DEAL STATS #
Overall 14 of 47
Sector: Software M&A 1 of 1
Type: Secondary Buyout M&A Deals 4 of 15
State: Florida M&A 1 of 1
Country: United States M&A 14 of 47
Year: 2013 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-03 Thermafiber

Wabash, Indiana, United States

Thermafiber, Inc. is a producer of mineral wool insulation products used primarily in commercial and industrial buildings. Thermafiber's products are sold to construction markets, power and process markets, and a wide variety of industrial and OEM markets.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-04 Silbond

Weston, Michigan, United States

Silbond Corp. is a supplier of tetra ethyl ortho silicate (TEOS), a specialty chemical sold to an international customer base in the semiconductor, electronics, industrial protective coating, investment casting and chemical processing industries.

Sell -