M&A Deal Summary

Thoma Bravo and RF Investment Partners Acquire PEC Safety Operations

On November 30, 2018, private equity firm Thoma Bravo and mezzanine finance firm RF Investment Partners acquired safety/security company PEC Safety Operations from Eagle Ridge Growth Partners

Acquisition Highlights
  • This is Thoma Bravo’s 1st and RF Investment Partners’ 1st transaction in the Safety/Security sector.
  • This is Thoma Bravo’s 73rd and RF Investment Partners’ 4th transaction in the United States.
  • This is Thoma Bravo’s 1st and RF Investment Partners’ 1st transaction in Louisiana.
Investment Fate
  • PEC Safety Operations merged with another company in 2019.

M&A Deal Summary

Date 2018-11-30
Target PEC Safety Operations
Sector Safety/Security
Buyer(s) Thoma Bravo
RF Investment Partners
Sellers(s) Eagle Ridge Growth Partners
Deal Type Secondary Buyout
Advisor(s) William Blair (Financial)
Goodwin Procter (Legal)

Target

PEC Safety Operations

Mandeville, Louisiana, United States
PEC Safety Operations LLC is a technology and training company focused on providing technology-enabled contractor management service for reporting and measuring contractor risk, safety and compliance information to owner clients (operators). PEC Safety was formed in 1993 and is based in Mandeville, Louisiana.

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Buyer(S) 2

Buyer

Thoma Bravo

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1980
PE ASSETS 127.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thoma Bravo is a private equity firm that primarily invests in or acquires US-based middle-market businesses. While Thoma Bravo will consider a variety of transaction situations, including take-privates, buyouts, carve-outs, recapitalizations, and growth equity financings, the Firm has a special interest in tech consolidation opportunities. Target companies generally have a history of profitability with EBITDA of at least $20 million. The Firm's equity commitment size range is $100 to $750 million. Sectors of interest include enterprise and infrastructure software, education, distribution, financial services and consumer goods/services. The Firm will not invest in new inventions or technologies, developmental products or services, start-ups, biotech, motion pictures, distressed businesses, oil/gas, or real estate. Thoma Bravo was formerly known as Thoma Cressey Bravo and before that Golder Thoma & Co. The Firm was originally formed in 1980 and is based in Chicago, Illinois.


DEAL STATS #
Overall 76 of 151
Sector: Safety/Security M&A 1 of 1
Type: Secondary Buyout M&A Deals 19 of 36
State: Louisiana M&A 1 of 1
Country: United States M&A 73 of 132
Year: 2018 M&A 13 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-29 Local Media of America

San Diego, California, United States

LMA operates three 100,000 watt class C radio stations serving the San Diego, CA market, the country’s 17th largest radio market, with a variety of popular music formats and e-marketing opportunities. The Company also seeks additional radio broadcasting opportunities in large markets throughout the U.S. The current LMA stations are: XHRM-FM 92.5 (“Magic”), a “Rhythmic Adult Contemporary” station; XHTZ-FM 90.3 (“Z90”), a “Rhythmic Contemporary Hit Radio” station; and XETRA-FM 91.1 (“91X”), an “Alternative Music” station.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-23 SRS Health

Montvale, New Jersey, United States

SRS offers productivity-enhancing EHR and healthcare IT solutions for specialists and other high-performance physicians. With over 5,000 providers, the EHR company has built the largest national network of high-performance practices successfully using an EHR. Preeminent among orthopaedists, SRS is also the solution of choice among prominent ophthalmologists, cardiologists, and other specialists.

Sell -
Buyer
DESCRIPTION

RF Investment Partners is a private investment firm focused on providing flexible capital solutions to small and mid-sized companies. The Firm looks to invest $10 to $40 million of equity/debt capital capital to support businesses with at least $10 million of revenue. Funds are generally used to support buyouts, recapitalizations, acquisitions, shareholder liquidity needs, and family successions. RF Investment Partners was formed in 2016 and is headquartered in New York City.


DEAL STATS #
Overall 4 of 36
Sector: Safety/Security M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 4
State: Louisiana M&A 1 of 2
Country: United States M&A 4 of 35
Year: 2018 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-01 MHW

Manhasset, New York, United States

MHW is a beverage alcohol importer, distributor, and service provider with licenses in all 50 states, MHW is the preferred partner for established and aspiring brands in wine, spirits, and beer. MHW works with suppliers in over 80 countries, providing operations, logistics, compliance, sales distribution, marketing, and new brand development for their clients. MHW was founded in 1934 and is based in Manhasset, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-01 Health Media Network

Norwalk, Connecticut, United States

Health Media Network provides digital point-of-care marketing services through its proprietary digital content platform. HMN’s digital networks run on screens placed in physician offices and provide specialty-specific, health-focused content tailored to patients’ health needs and interests. Health Media Network was established in 2007 and is based in Norwalk, Connecticut.

Buy -

Seller(S) 1

DESCRIPTION


DEAL STATS #
Overall 1 of 1
Sector: Safety/Security M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
State: Louisiana M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2018 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-01 PEC Safety Operations

Mandeville, Louisiana, United States

PEC Safety Operations LLC is a technology and training company focused on providing technology-enabled contractor management service for reporting and measuring contractor risk, safety and compliance information to owner clients (operators). PEC Safety was formed in 1993 and is based in Mandeville, Louisiana.

Buy -