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InTandem beefs up ambulatory services platform; Bain Capital on lure of cybersecurity; reshuffle at Carlyle

Good morning, Hubsters. Obey Martin Manayiti here with the Wire, filling in for MK Flynn.

I hope you had a very pleasant long weekend. Today we have a lot to talk about, starting with an ambulatory infusion services investment by InTandem Capital Partners, an investment by Brookfield and Ontario Teachers’ in a data center business, a waffles business play from Arbor Investments, people moves at Carlyle and a deep dive on a recent cybersecurity deal by Bain Capital.

Let’s get right into it with the latest news this morning.

Ambulatory infusion and specialty pharmacy

Vivo Infusion, a portfolio company of InTandem Capital Partners, hasacquired Specialty Infusion, a provider of ambulatory infusion and specialty pharmacy services in 14 ambulatory infusion centers (AICs) in New York, Massachusetts and New Jersey.

Vivo Infusion, a Denver, Colorado-headquartered company, now has 55 ambulatory infusion centers across 10 states.

Formed last year, Vivo has made a few other acquisitions to strengthen the platform. Earlier this year, Vivo acquired CIVIC Infusion, a Connecticut and New York-based provider of infusion care.

For more on this deal, subscribe to the premium version of The Wire.

Data centers

Brookfield Infrastructure Partners and existing investor Ontario Teachers’ Pension Plan have agreed to acquire Compass Datacenters from RedBird Capital Partners and the Azrieli Group.

Compass designs and constructs data centers for some of the world’s largest hyperscalers and cloud providers on campuses across the globe.

Time for waffles

Arbor Investments has acquired Golden Malted and Heartland Waffles from Roch Capital.

Based in Glen Mills, Pennsylvania, the combination will supply waffle irons and waffle mix to the hospitality and foodservice industry.

Arbor’s senior operating partner Tim Fallon will become chairman and interim CEO of the company. The senior leadership of the combined companies will continue in their operating roles leading the business.

People moves

This morning, Carlyle announced that John Redett will become the firm’s chief financial officer and head of corporate strategy, effective October 1. He will succeed Curt Buser, CFO at Carlyle since 2014, who will be retiring at the end of the year. Prior to joining Carlyle, Redett worked at Goldman Sachs from 2005-2007, and JPMorgan from 2000-2005.

Cybersecurity

Private equity-backed cybersecurity deals continue to proliferate. This year has seen some significant deals, including Vista Equity Partners taking cybersecurity training specialist KnowBe4 private in a $4.6 billion deal that closed on February 1.

And earlier in June, Bain Capital announced it led a $190 million growth investment in Blackpoint Cyber, with participation from Accel.

My colleague Rafael Canton spoke with Bain Capital partner Dewey Awad and principal Zach Berger about cybersecurity opportunities in general and the Blackpoint deal in particular.

Get more on this story in the premium version of The Wire.

That’s it for me today.

Chris Witkowsky, Buyouts editor, will be back with the Wire tomorrow.

Cheers,

Obey

Read the full wire commentary on PE Hub ...

Also of note (may require subscriptions)

As institutional LPs wrestle with the denominator effect and a lack of distributions, private equity managers are increasingly catering to smaller LPs such as family offices and private wealth investors. (Private Equity International)

Teachers’ Retirement System of the State of Illinois has committed $455 million to four separate funds, a source at the pension has confirmed. (Buyouts)

Often not considered a priority, a hardening insurance market and a difficult macro environment have led to higher premiums and less coverage for infra GPs. In a guest column on Infrastructure Investor, Eldin Risk’s managing partner provides advice for overcoming these new challenges.

Round Hill Capital has closed on its first European real estate fund in more than 10 years, PERE has learned.