Investment Summary

GP Investments and Spice Private Equity Invest In Rimini Street

On May 16, 2017, private equity firms GP Investments and Spice Private Equity invested in software company Rimini Street from Adams Street Partners

Investment Highlights
  • This is GP Investments’ 1st and Spice Private Equity’s 1st transaction in the Software sector.
  • This is GP Investments’ 3rd and Spice Private Equity’s 1st transaction in the United States.
  • This is GP Investments’ 1st and Spice Private Equity’s 1st transaction in Nevada.

Investment Summary

Date 2017-05-16
Target Rimini Street
Sector Software
Investor(s) GP Investments
Spice Private Equity
Sellers(s) Adams Street Partners
Deal Type PIPE
Advisor(s) Cowen (Financial)
Wilson Sonsini Goodrich & Rosati (Legal)

Target

Rimini Street

Las Vegas, Nevada, United States
Rimini Street is a third-party provider of enterprise software support services, including products licensed by Oracle, SAP, IBM, and Microsoft among others, saving the customer at least 50% on total support costs. Rimini Street was founded in 2005 and is based in Las Vegas, Nevada.

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Investor(S) 2

Investor

GP Investments

Sao Paulo, Brazil

Category Private Equity Firm
Founded 1993
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

GP Investments is a publicly-traded private equity group that targets opportunities in Latin/South America. GP targets mature businesses in traditional industries with revenues greater than $60 million (US). Prospective transaction situations include consolidations, non-core divestitures, acquisitions of family-owned businesses, recapitalizations, and restructurings. The Firm prefers control positions when pursuing transactions. GP will not invest in start-ups and avoids tech-related or biotech companies. GP was formed in 1993 and has offices in Bermuda and Sao Paulo, Brazil.


DEAL STATS #
Overall 11 of 11
Sector: Software M&A 1 of 1
Type: PIPE M&A Deals 1 of 1
State: Nevada M&A 1 of 1
Country: United States M&A 3 of 3
Year: 2017 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-03 Corelle Brands

Rosemont, Illinois, United States

Corelle Brands LLC is a manufacturer and marketer of bakeware, dinnerware, kitchen and household tools, rangetop cookware and cutlery products. Corelle Brands LLC and its affiliates manufacture and market products worldwide through a portfolio of well-recognized and respected brands, including under the Pyrex®, Corelle®, Corningware®, Snapware®, Chicago Cutlery®, Revere®, Visions®, Ekco® and Baker's Secret® trademarks. Corelle Brands LLC and its affiliates employ approximately 3,000 people, and have major manufacturing and distribution operations in North America and Asia-Pacific regions. Corelle Brands LLC was incorporated in 1991 and is based in Rosemont, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-24 BHG

Rio de Janeiro, Brazil

BHG is a hotel chain, focused on business travel hotels. The company's strategy is to hold direct investment in hotel real estate assets, valuing based on the performance of its teams, specialized in asset management, engineering and investment. BHG was founded in 2009 and is based in Rio de Janeiro, Brazil.

Sell -
DESCRIPTION


DEAL STATS #
Overall 1 of 4
Sector: Software M&A 1 of 1
Type: PIPE M&A Deals 1 of 1
State: Nevada M&A 1 of 1
Country: United States M&A 1 of 2
Year: 2017 M&A 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-15 Leon Restaurants

London, United Kingdom

Leon Restaurants is an operator of fast-food restaurants. It serves Breakfast, Lunch, Dinner, Coffee, and Drinks. Leon Restaurants was founded in 2004 and is based in London, Engaland.

Buy -

Seller(S) 1

SELLER

Adams Street Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1972
PE ASSETS 60.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Adams Street Partners is a diversified, global investment firm that targets direct, fund of funds, and secondary investments. Adams' direct investing group covers co-investments in buyout transactions, as well as growth equity and venture capital commitments. The direct buyout and growth equity team looks to commit $5 to $30 million per transaction. For venture related investments, commitments of $5 to $20 million are provided to companies in the technology, life sciences and technology enabled services sectors. Typically, target companies have received prior financing from early stage venture firms and are seeking additional capital to fund product development and commercialization. Adams Street Partners was formed in 1972 and is based in Chicago, Illinois.


DEAL STATS #
Overall 66 of 101
Sector: Software M&A 14 of 20
Type: PIPE M&A Deals 1 of 1
State: Nevada M&A 1 of 1
Country: United States M&A 61 of 93
Year: 2017 M&A 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-10 Craftsy

Denver, Colorado, United States

Craftsy is a preeminent online destination for passionate makers to learn, create and share. With online classes, popular supplies and indie patterns, over five million creative enthusiasts are taking their skills to new heights. Craftsy was founded in 2011 and is based in Denver, Colorado.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-26 RadiumOne

San Francisco, California, United States

RadiumOne is an advertising platform that covers online, video, social, and mobile adverting using real-time bidding. RadiumOne is an award-winning, data-driven marketing platform that analyzes consumer signals in real-time to determine consumer intent from a broad range of digital touchpoints, which includes a brand’s paid (advertising), earned (influencers), shared (social), and owned (websites and applications) media channels. RadiumOne was founded in 2009 and is based in San Francisco, California.

Sell $22M