M&A Deal Summary

Periscope Equity Acquires Allen Technologies

On November 1, 2018, private equity firm Periscope Equity acquired business services company Allen Technologies from Greyrock Capital Group and Fundamental Capital

Acquisition Highlights
  • This is Periscope Equity’s 1st transaction in the Business Services sector.
  • This is Periscope Equity’s 6th transaction in the United States.
  • This is Periscope Equity’s 1st transaction in Texas.

M&A Deal Summary
Date 2018-11-01
Target Allen Technologies
Sector Business Services
Buyer(s) Periscope Equity
Sellers(s) Greyrock Capital Group
Fundamental Capital
Deal Type Secondary Buyout

Target

Allen Technologies

Austin, Texas, United States
Allen Technologies, Inc. provides hospital patients and their guests a suite of for-fee entertainment services, such as premium satellite entertainment, on-demand feature movies, and internet service. Allen’s systems also facilitate hospitals’ compliance with federal regulations that mandate patient education and medical data collection at the bedside. Allen Technologies was founded in 1977 and is based in Austin, Texas.

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Buyer(S) 1

Buyer

Periscope Equity

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2007
Size Small
Type Sector Focused
DESCRIPTION

Periscope Equity is a private equity firm focused on acquiring lower middle-market tech-enabled business services companies. Periscope pursues companies valued up to $40 million with $10 to $50 million in revenue. Specific areas of interest include healthcare services, marketing services, business process outsourcing, SaaS, and security services. Periscope Equity was formed in 2007 and is based in Chicago, Illinois.

DEAL STATS #
Overall 6 of 16
Sector (Business Services) 1 of 1
Type (Secondary Buyout) 1 of 3
State (Texas) 1 of 2
Country (United States) 6 of 16
Year (2018) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-10 Inflexxion

Newton, Massachusetts, United States

Inflexxion, Inc. is a healthcare information provider with proprietary SaaS products. The company gathers patient data at addiction, behavioral health and chronic pain treatment centers to produce patient analytics, which provides critical information on drug product usage and risks to its pharmaceutical clients. Inflexxion was founded in 1989 and is based in Newton, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-31 Power Digital

San Diego, California, United States

Power Digital is a data-driven digital marketing agency, that offers services including: SEO, Content, Paid Media, Organic and Paid Social Media, PR, Influencer, Email, Conversion Rate Optimization, Migration, Amazon Marketing and Web Development, with an emphasis in helping brands scale revenue and increase profits through customer acquisition and retention programs. Power Digital was founded in 2012 and is based in San Diego, California.

Buy -

Seller(S) 2

SELLER

Greyrock Capital Group

Walnut Creek, California, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2002
PE ASSETS 350M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Greyrock Capital Group provides mezzanine debt and equity capital to finance buyouts, recapitalizations and growth needs of middle market companies. Greyrock looks to invest between $8 and $40 million of equity and/or junior capital in companies with minimum revenues of $10 million and at least $2 million of EBITDA. Greyrock prefers companies in defensible markets with low cost structures. Greyrock Capital was formed in 2002 and has offices in San Francisco, California; Chicago, Illinois; and Westport, Connecticut.

DEAL STATS #
Overall 35 of 45
Sector (Business Services) 3 of 4
Type (Secondary Buyout) 13 of 18
State (Texas) 2 of 3
Country (United States) 35 of 45
Year (2018) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-26 Andrews International

Valencia, California, United States

Andrews International is a provider of private security and risk mitigation services to the entertainment, high-end retail, financial services, commercial property management, and education verticals.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-11 International Imaging Materials

Amherst, New York, United States

International Imaging Materials is a developer and manufacturer of Thermal Transfer Ribbons, Direct Thermal Films, and Fluid Inks used to print-on-demand variable information such as barcodes, text, and graphics in Automatic Identification, Packaging, and Graphics markets. In addition, medical applications, such as orthopedic braces, sterile supplies, compression devices, and patient mobility products, vices. International Imaging Materials was founded in 1983 and is based in Amherst, New York.

Sell -
SELLER

Fundamental Capital

San Francisco, California, United States
Category Private Equity Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

Fundamental Capital is a private equity firm that invests in US-based companies generating revenue between $5 and $50 million. Fundamental targets businesses operating in the manufacturing, services, distribution, retail, and consumer products sectors, and seeks to commit $2 to $10 million per transaction. Prospective transaction types include growth capital financings, buyouts, recapitalizations, and corporate divestitures. Fundamental Capital was formed in 2004 and is based in San Francisco, California.

DEAL STATS #
Overall 2 of 2
Sector (Business Services) 1 of 1
Type (Secondary Buyout) 2 of 2
State (Texas) 1 of 1
Country (United States) 2 of 2
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-27 Voodoo Doughnut

Portland, Oregon, United States

Voodoo Doughnut LLC is an operator of Doughnut restaurants. Voodoo Doughnut was founded in 2003 and is based in Portland, Oregon.

Buy -
Mergr

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