PIPE • Business Services

Summit Partners and Patriot Financial Partners Invest In NewtekOne

On April 30, 2012, growth capital firm Summit Partners and private equity firm Patriot Financial Partners invested in business services company NewtekOne

Investment Context
  • This is Summit Partners’ 20th and Patriot Financial Partners’ 1st transaction in the Business Services sector.
  • This is Summit Partners’ 215th and Patriot Financial Partners’ 14th transaction in the United States.
  • This is Summit Partners’ 16th and Patriot Financial Partners’ 3rd transaction in Florida.

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Investment Summary

Date April 30, 2012
Target NewtekOne
Sector Business Services
Investor(s) Summit Partners
Patriot Financial Partners
Deal Type PIPE

Target Company

NewtekOne

Boca Raton, Florida, United States
NewtekOne is a provider of a wide range of business services and financial products under the Newtek brand to the small- and medium-sized business ("SMB") market. NewtekOne was founded in 1998 and is based in Boca Raton, Florida.
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Investors Overview 2

Investor

Summit Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1984
PE ASSETS 45.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Summit Partners is a private investment and asset management firm focused on venture, growth, credit, and public equity investing. Sectors of interest include business services, communications technology and services, consumer products, energy, financial services, healthcare and life sciences, industrial products, internet/information services, media/entertainment, semiconductors, electronics, and software. Summit Partners is known for having a proactive business development group for sourcing transactions. Summit will consider both minority or majority investment stakes and is willing to commit as little as $10 million or as much as $500 million in combined debt/junior capital per transaction. The Firm's geographic coverage spans North America and Europe. Summit Partners was formed in 1984 and is headquartered in Boston, Massachusetts.


Deal Context for Investor #
Overall 237 of 415
Sector: Business Services 20 of 28
Type: PIPE 2 of 2
State: Florida 16 of 26
Country: United States 215 of 335
Year: 2012 10 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-18 Fortra

Eden Prairie, Minnesota, United States

Fortra provides security, systems and network management, automation, business intelligence and compliance solutions. The Company’s software and services monitor and automate processes, encrypt and secure data, and provide access to the information that large organizations need every day. Fortra was founded in 1982 and is based in Eden Prairie, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-02 Full House Resorts

Las Vegas, Nevada, United States

Full House Resorts, Inc. develops, owns, operates and manages casinos and related hospitality and entertainment facilities in regional U.S. markets. Based in Las Vegas, Full House operates five casino facilities in Mississippi, Colorado, Indiana and Nevada. Each of our gaming properties reflects a unique atmosphere custom-designed for each regional market.

Buy -
Investor

Patriot Financial Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2007
PE ASSETS 1.3B USD
Size Large
Type Sector Focused
DESCRIPTION

Patriot Financial Partners is a private equity firm focused on acquiring and investing in community based banks, thrifts, and other related financial services companies throughout the US. Patriot is a hands-on investor and seeks businesses with assets between $500 million and $5 billion. Patriot Financial Partners was established in 2007 and is headquartered in Radnor, Pennsylvania.


Deal Context for Investor #
Overall 14 of 32
Sector: Business Services 1 of 1
Type: PIPE 9 of 15
State: Florida 3 of 4
Country: United States 14 of 32
Year: 2012 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-26 American Chartered Bancorp

Schaumburg, Illinois, United States

American Chartered Bank is the Company's wholly owned banking subsidiary. American Chartered is a business bank with 15 offices in metropolitan Chicago and the surrounding suburbs.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-01 Bank of North Carolina

High Point, North Carolina, United States

BNC Bancorp., the parent company of Bank of North Carolina, is a commercial bank with $3.7 billion in assets. BNCN provides a complete line of banking and financial services to individuals and businesses through its 48 banking offices in North and South Carolina.

Buy -