| | | Vista Equity preps sale of Mediaocean targeting more than $1.4bn value, PE dominates M&A market even as overall activity level drops, LPs raise conflict of interest fears with GPs who raise SPACs | | | | Thursday, October 08, 2020 | | | | | Morning!
Vista Equity is preparing the sale of advertising system-of-record company Mediaocean, writes Milana Vinn on PE Hub today.
Vista is reaching out to private equity firms that expressed interest in Mediaocean in previous sale attempts, such as in 2018 and in March, the sources said. The sale process is expected to fully launch this month, they said.
Mediaocean’s platform allows advertising firms to manage workflow remotely, which has become more relevant now, one of the sources said. Companies are also no longer focused on advertising on billboards, so having advertising that can be managed digitally on platforms like Mediaocean becomes critical, the person said. Read more here on PE Hub. |
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| | | Top Scoops | | | | H.I.G. Capital bought Hart & Cooley, which makes HVAC and air distribution products. Hart & Cooley is a subsidiary of Johnson Controls International. H.I.G. is partnering with management on the transaction. Read it here on PE Hub. |
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| | The SPAC train shows no signs of slowing down, as more GPs are jumping in and forming these public vehicles that target one investment.
But, but, but ... private equity LPs are raising concerns about potential conflicts of interest with GPs who raise SPACs and traditional private equity funds. Concerns focus on potential competition between the SPAC and the funds, and allocation of firm resources to manage the SPAC while not benefitting fund LPs, who pay management fees expecting the manager to focus on the traditional funds. Read it here, and let me know if you have thoughts on this at cwitkowsky@buyoutsinsider.com.
Have a great day! Reach me with your thoughts, tips, gossip, whatever at cwitkowsky@buyoutsinsider.com, on Twitter or find me on LinkedIn.
HOUSEKEEPING
Wanted: VCJ’s Rising Stars
It’s that time of the year. Over at Venture Capital Journal, editor Alastair Goldfisher and the team are looking for nominations for their second annual Rising Stars list. VCJ is seeking to identify the most talented and up-and-coming professionals in the venture capital community. Click here for more information on how you can submit your favorite Rising Star. | | |
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| | | | | | | | | | | Three sectors to invest in amid the pandemic | | Covid-19 has created uncertainty, and it has also paved the way for opportunities in certain sectors. Anis Uzzaman of Pegasus Tech Ventures says e-commerce, online education and e-sports are the three sectors that will remain relevant long after the pandemic. More... |
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| | | | | | | | | | | | | | | | | | | | | | | | BPEB funds Leading Edge Power Solutions | | BP Energy Partners has made an equity commitment to California-based Leading Edge Power Solutions LLC, a provider of clean power generation solutions for commercial and industrial customers. More... |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | H.I.G. buys Hart & Cooley | | H.I.G. Capital has acquired Grand Rapids, Michigan-based Hart & Cooley LLC, a manufacturer of HVAC and air distribution products. More... |
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| | | | | | | | | | | | | | | | | Cortado Ventures backs Array | | Array, an Oklahoma City and Austin-based app for operations and workflow automation processes, has raised an undisclosed amount of seed funding. More... |
| | | | | | | | | | | | | | | | | | | | Zira Technologies fetches $3.1m | | San Francisco-based Zira Technologies Inc, a global cloud-based platform that optimizes labor-efficiency and employee morale for shift-based workforces, has raised $3.1 million in financing. More... |
| | | | Tone picks up $4m seed | | Boston-based Tone, a texting platform for brands to communicate with customers, has raised $4 million in seed funding, according to an online announcement by co-founder and CEO Tivan Amour. More... |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | Mandolin rallies $5m seed | | Mandolin, a digital platform designed to help artists, venues, and fans connect through live music, has raised $5 million in seed funding. More... |
| | | | | | | | | | | | | | | | | | | | Quantum Metric inks $25m | | Quantum Metric, a SaaS platform that helps organizations build digital products, has secured up to $25 million of debt capital. More... |
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| | | Firms and Funds | | | | | | | | | | Plexus collects $502m for fifth fund | | Plexus Capital has closed its fifth fund at $502 million. Plexus Fund V's investors include pension funds, insurance companies, and banks, as well as family offices and high-net worth individuals. More... |
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