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The Wire

Aug. 5, 2021

Butterfly agrees to invest in MaryRuth Organics, PSG, TPG co-lead recap of Government Brands

Happy Thursday! 

We’ve got deal news from emerging manager Butterfly. The firm agreed to invest in MaryRuth Organics, a wellness brand with a portfolio that includes vitamins, probiotics, herbal and adaptogen supplements and skin and beauty, among other things. 

PSG and TPG co-led a recapitalization of Government Brands, which provides government software and integrated payment services. PSG will retain its majority stake and TPG will become a minority shareholder, investing through its Tech Adjacencies Fund. Greater Sum Ventures, meanwhile, will exit its position in the company. Government Brands was formed in 2017 and has grown organically and through more than 25 add-ons. The pandemic highlighted the need for government agencies to accelerate digital initiatives. Read more here. 

That’s it for me! Have a great rest of your day. Hit me up with tips n’ gossip, feedback or book recommendations at cwitkowsky@buyoutsinsider.com or find me on LinkedIn. 

Read the full wire commentary on PE Hub...

Also of note (may require subscriptions)

Named: TPG named Jack Weingart as chief financial officer overseeing the finance, treasury and capital markets operations. Weingart joined TPG in 2006 and spent over a decade with the funding group that focuses on fundraising and capital markets activities. Prior to joining TPG, Weingart worked at Goldman Sachs. Read it here.