Investment Summary

Silver Lake, TriWest Capital Partners and HarbourVest Partners Invest In Peloton

On August 15, 2017, private equity firms Silver Lake, TriWest Capital Partners and HarbourVest Partners invested in software company Peloton

Investment Highlights
  • This is Silver Lake’s 17th, TriWest Capital Partners’ 1st and HarbourVest Partners’ 18th transaction in the Software sector.
  • This is Silver Lake’s 1st, TriWest Capital Partners’ 40th and HarbourVest Partners’ 4th transaction in Canada.
  • This is Silver Lake’s 1st, TriWest Capital Partners’ 23rd and HarbourVest Partners’ 1st transaction in Alberta.

Investment Summary

Date 2017-08-15
Target Peloton
Sector Software
Investor(s) Silver Lake
TriWest Capital Partners
HarbourVest Partners
Deal Type Growth Capital

Target

Peloton

Calgary, Alberta, Canada
Peloton is a provider of well data software solutions to the oil and gas industry. Peloton’s software helps oil and gas companies focus their operations and improve their strategic decision-making through better data management during the entire lifecycle of a well, including drilling, well operations, and production. Peloton was founded in 1991 and is based in Calgary, Alberta.

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Investor(S) 3

Investor

Silver Lake

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 104.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Silver Lake is a mega-sized private equity firm focused on a broad range of growth investments in and acquisitions of technology companies. Silver Lake is subdivided into several investing groups including Silver Lake Partners, Silver Lake Sumeru, Silver Lake Waterman, Silver Lake Alpine, and Silver Lake Kraftwerk. Silver Lake Partners pursues large-scale private investments in companies within the technology, tech-enabled and related growth industries. Silver Lake Sumeru invests in middle market technology companies with established business models and attractive growth prospects where there is an opportunity to create value through operational transformation. Silver Lake Waterman provides growth capital to later-stage companies in the technology and technology-enabled industries, offering flexible solutions to finance expansion and acquisitions. Silver Lake Alpine is Silver Lake's debt and credit investing arm. Silver Lake Kraftwerk provides growth capital to technology and tech-enabled businesses driving efficiency across the operations, energy, and resources industries. Silver Lake Partners was formed in 1999 is headquartered in Menlo Park, California.


DEAL STATS #
Overall 90 of 135
Sector (Software) 17 of 27
Type (Growth Capital) 23 of 33
State (Alberta) 1 of 1
Country (Canada) 1 of 2
Year (2017) 8 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-21 Klarna

Stockholm, Sweden

Klarna offers safe and easy-to-use payment solutions to e-stores in Europe with the ambition to make e-commerce safer, simpler and more fun. At the core of Klarna's services is the concept of after delivery payment, which lets buyers receive ordered goods before any payment is due. At the same time, Klarna assumes all credit and fraud risk for e-stores so that sellers can rest assured that they will always receive their money. Klarna was founded in 2005 and is based in Stockholm, Sweden.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-17 Vacasa

Portland, Oregon, United States

Vacasa is a vacation rental management company in North America and offers property management and other real estate services directly and through licensed subsidiaries. Vacasa was founded in 2009 and is based in Portland, Oregon.

Buy -
Investor

TriWest Capital Partners

Calgary, Alberta, Canada

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 1.6B CAD
Size Large
Type Sector Agnostic
DESCRIPTION

TriWest Capital Partners is a Canadian private equity firm focused on investments in established companies operating in a variety of industries. Broad areas of interest include the distribution, manufacturing, and service sectors. TriWest targets mid-sized, profitable companies with EBITDA of $10 to $100 million. Prospective transaction types include management buyouts, growth capital financings, generational transfers, corporate divestitures, and special situations. TriWest will not invest in real estate, technology and primary resource development. TriWest Capital Partners was formed in 1998 and is based in Calgary.


DEAL STATS #
Overall 41 of 53
Sector (Software) 1 of 1
Type (Growth Capital) 6 of 12
State (Alberta) 23 of 29
Country (Canada) 40 of 50
Year (2017) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-01 Trimlite

Renton, Washington, United States

Trimlite is a manufacturer of decorative glass inserts for steel door fabricators. Trimlite products include stile and rail doors, fiberglass doors, decorative glass, and other home building products. Trimlite was founded in 1982 and is based in Renton, Washington.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-18 Landmark Cinemas Canada

Calgary, Alberta, Canada

Landmark Cinemas Canada LP is a motion picture theatre exhibition company focused on selling box office tickets to view films in its theatres and food & beverage service at concession stands within the locations. Landmark Cinemas was formed in 1965 and is based in Calgary, Alberta.

Sell -
Investor

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 161 of 223
Sector (Software) 18 of 26
Type (Growth Capital) 25 of 30
State (Alberta) 1 of 1
Country (Canada) 4 of 7
Year (2017) 9 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-27 ista International

Essen, Germany

ista International GmbH sells a range of meter hardware and also provides a comprehensive package of related services such as meter installation, meter reading, billing, data processing, and maintenance. ista International GmbH was formed in 1999 and is based in Essen, Germany.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-24 ReCommunity Holdings

Charlotte, North Carolina, United States

ReCommunity is a recycling, recovery and repowering company that is focused on dramatically reducing the volume of land-filled waste through conversion into useful products such as recycled commodities, low-carbon energy, ReEngineered Feedstock, biofuels, and other value-added recycled products. ReCommunity Holdings was founded in 2011 and is based in Charlotte, North Carolina.

Sell -