M&A Deal Summary

GTCR and Charlesbank Capital Partners Acquire Park Place Technologies

On November 30, 2015, private equity firms GTCR and Charlesbank Capital Partners acquired information technology company Park Place Technologies from WestView Capital Partners and Pleasant Bay Capital Partners

Acquisition Highlights
  • This is GTCR’s 10th and Charlesbank Capital Partners’ 2nd transaction in the Information Technology sector.
  • This is GTCR’s 84th and Charlesbank Capital Partners’ 46th transaction in the United States.
  • This is GTCR’s 4th and Charlesbank Capital Partners’ 4th transaction in Ohio.

M&A Deal Summary

Date 2015-11-30
Target Park Place Technologies
Sector Information Technology
Buyer(s) GTCR
Charlesbank Capital Partners
Sellers(s) WestView Capital Partners
Pleasant Bay Capital Partners
Deal Type Secondary Buyout
Advisor(s) Lazard Middle Market (Financial)
Latham & Watkins (Legal)

Target

Park Place Technologies

Cleveland, Ohio, United States
Park Place Technologies is a third-party maintenance (TPM) provider that offers organizations an alternative to post-warranty storage, server and networking hardware maintenance and support in the data center. Park Place Technologies supports EMC, Dell, IBM, Cisco, Hitachi, NetApp, HP, Sun/Oracle and other data center hardware equipment in over 70 countries. Park Place Technologies was founded in 1991 and is based in Cleveland, Ohio.

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Buyer(S) 2

Buyer

GTCR

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1980
PE ASSETS 15.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

GTCR is a private equity firm that typically partners with management when pursuing acquisitions. The Firm looks to grow companies through build-on acquisitions, consolidations, and internal growth. GTCR will consider both equity and mezzanine capital commitments and concentrates its investment activity in consumer products & services, healthcare services, outsourced business services, technology, transaction processing, and pharma/medical products. GTCR was formed in 1980 and is based in Chicago, Illinois.


DEAL STATS #
Overall 88 of 142
Sector (Information Technology) 10 of 14
Type (Secondary Buyout) 13 of 33
State (Ohio) 4 of 6
Country (United States) 84 of 137
Year (2015) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-22 AssuredPartners

Orlando, Florida, United States

AssuredPartners is a full-service insurance broker, offering property and casualty and employee benefits insurance products and services to middle-market businesses, public institutions, and high-net-worth individuals. AssuredPartners was founded in 2011 and is based in Orlando, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-11 Crealta Pharmaceuticals

Glendale, Wisconsin, United States

Crealta is a specialty pharmaceutical company focused on innovative therapeutics designed to improve patient outcomes. The company, which has two marketed medicines KRYSTEXXA and MIGERGOT, was formed to acquire, develop and market specialty medicines with a focus on select physician specialties.

Sell $510M
Buyer

Charlesbank Capital Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Charlesbank Capital Partners is a private equity firm focused on investing in companies at various stages of development, including private and public companies, distressed situations, as well as later stage high growth businesses. Charlesbank typically invests $50 to $150 million per deal, in companies valued between $150 million and $3 billion. Industries of interest include consumer products, distribution, energy, financial services, food, education, health-care products and services, manufacturing, media and communications, and retail. Charlesbank Capital Partners is based in Boston, Massachusetts with an additional office in New York City.


DEAL STATS #
Overall 52 of 89
Sector (Information Technology) 2 of 8
Type (Secondary Buyout) 12 of 31
State (Ohio) 4 of 4
Country (United States) 46 of 78
Year (2015) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-04 Plaskolite

Columbus, Ohio, United States

Plaskolite is a provider of transparent thermoplastic sheet products. Plaskolite’s customized products are used in a wide variety of applications, including windows, doors, lighting, signs, point-of-purchase displays and bath products. Plaskolite serves a diverse customer base including distributors, OEMs, and retailers. Plaskolite was established in 1950 and is based in Columbus, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-01 Vestcom

Little Rock, Arkansas, United States

Vestcom is a provider of technology-enabled shelf-edge media solutions to the retail and consumer products industry. The company offers an array of solutions including customized shelf-edge labels, branding and promotional content labels, and shelf-edge strips with product information. Vestcom was founded in 1996 and is based in Little Rock, Arkansas.

Buy -

Seller(S) 2

SELLER

WestView Capital Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 2.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

WestView Capital Partners is a private equity firm focused on investing in lower middle-market companies. WestView looks to commit between $20 and $100 million in a variety of recapitalization, growth financing, buyout and consolidation transactions. Prospective companies generally exhibit consistent growth and financial performance as well as sustainable competitive advantages and market position. Sectors of interest include business services, industrial and manufacturing, distribution and logistics, consumer products and retail, healthcare services, environmental services, and media/publishing. The Firm's geographic preference is North America. WestView Capital Partners was formed in 2004 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 14 of 34
Sector (Information Technology) 3 of 9
Type (Secondary Buyout) 5 of 13
State (Ohio) 1 of 2
Country (United States) 14 of 34
Year (2015) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-23 Xtend Healthcare

Hendersonville, Tennessee, United States

Xtend Healthcare LLC is a market provider of revenue cycle outsourcing solutions to the hospital market. Xtend currently serves more than 130 hospitals, ranging from large teaching university-affiliated hospitals and urban medical centers to rural critical access hospitals. Services include health insurance claims billing and account resolution, patient billing, customer service and follow-up, as well as revenue cycle consulting.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-21 ALKU

Andover, Massachusetts, United States

ALKU is a specialized consulting services firm, focused on deploying highly skilled consulting resources in the areas of ERP, Health Care IT, Life Sciences, and Government Programs and Information Security. ALKU was founded in 2008 and is based in Andover, Massachusetts.

Buy -
DESCRIPTION

Pleasant Bay Capital Partners is a merchant bank focused on investments in profitable, lower middle-market companies in the healthcare, technology, business services, consumer, and industrial products/services sectors. Prospective transaction situations include buyouts, growth capital financings, recapitalizations, shareholder liquidity needs, and buyouts. Pleasant Bay Capital Partners was established in 2012 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 4 of 9
Sector (Information Technology) 1 of 1
Type (Secondary Buyout) 2 of 4
State (Ohio) 1 of 1
Country (United States) 4 of 9
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-09 Memorial MRI and Diagnostic

Houston, Texas, United States

Memorial MRI & Diagnostic is a provider of outpatient diagnostic imaging services in the Houston market. It is a provider of diagnostic imaging services including MRI, CT or CAT scan, nuclear medicine, ultrasound, digital X-ray, digital mammography, dual energy X-ray or DEXA, pain management and other radiology services. Memorial MRI and Diagnostic is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-18 Damac Products

La Mirada, California, United States

Damac Products, Inc. is a manufacturer of custom data center infrastructure equipment. Damac's data center infrastructure products include server cabinets, wall mount racks, seismic and thermal management products, power distribution equipment, and cable runway systems. Damac product line includes more than 2,500 items engineered to the most exacting specifications. Damac Products was founded in 1984 and is based in La Mirada, California.

Sell -