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Court Square Backs Online Marketer Power Digital

Power Digital offers technology and services that help companies enhance their marketing performance

By Laura Kreutzer
Updated March 14, 2022 1:23 pm ET

Court Square Capital Partners has backed marketing technology company Power Digital Marketing to help the company further expand its services and clientele, including those in the private-equity industry itself.

Midmarket-focused Court Square is the second private-equity firm in recent years to back the San Diego-based company, which helps businesses, particularly consumer brands, analyze and improve their marketing efforts. Chicago-based Periscope Equity, which first invested in Power Digital in 2019, is exiting its stake.

Although terms of the deal were not disclosed, a person familiar with the transaction said the value of the deal falls somewhere around the middle of a $150 million to $1.5 billion enterprise value range that typifies Court Square’s deals.

Power Digital’s Sprnova technology platform helps companies evaluate and analyze first-party data, which businesses collect directly from their customers and own themselves, and then helps in assessing the data and developing marketing and growth strategies based on that analysis.

“[First-party data is] the most valuable asset, because it’s the truest data source,” said Chief Executive Grayson Lafrenz, who founded Power Digital in 2012. The company said it managed nearly $600 million in advertising spending on behalf of its clients in 2021 and has generated more than 80% of its revenue from e-commerce brands. Clients have included Innovative Technology Electronics LLC’s audio-products brand Victrola, alternative protein producer Beyond Meat Inc., mattress retailer Casper Sleep Inc. and beauty brand Kate Somerville Skincare LLC, according to Power Digital’s website.

Mr. Lafrenz said he sees an opportunity with Court Square to also expand in its business-to-business and private-equity segments.

“We don’t think anyone is doing a great job of both being able to consult those companies on their sales engine, [customer relationship management] and systems, but also bring in the performance marketing side, where you can actually drive qualified leads to the sales organization,” he said.

Power Digital developed a business line catering to private-equity firms after working with a portfolio company of a private-equity firm.

“I was blown away by the amount of money and resources they spent…on accounting, legal [or] technology diligence,” Mr. Lafrenz said, adding that he saw firms spend much less time and money on diligence of growth opportunities.

Power Digital since then has worked on various marketing and growth projects with more than 50 private-equity and venture-capital firms, a number that Mr. Lafrenz predicts will increase this year.

Court Square is backing Power Digital out of its roughly $2.7 billion Court Square Capital Partners IV LP fund, according to Kevin White, a partner at the New York-based firm.

Mr. White, who noted that 72% of the companies that Court Square has invested in through its two latest funds have been founder-, family- or management-owned businesses, said he sees opportunities for Power Digital to expand its services, including through acquisitions.

Under Periscope’s ownership Power Digital completed four add-on deals, including the 2020 purchase of Covet Public Relations, a consumer brands-focused agency, and the acquisition last year of Social Method, a digital media-buying and creative agency with an emphasis on Meta Platforms Inc.’s Facebook and Instagram.

“This company has many, many services that they offer to their clients,” Mr. White said. “M&A is a big part of the reason why you can continue to add services to the fold.”

Write to Laura Kreutzer at laura.kreutzer@wsj.com

Source: WSJ Pro Private Equity

Booking Holdings Completes the Acquisition of Getaroom

NORWALK, Conn., Dec. 30, 2021 /PRNewswire/ — Booking Holdings Inc. (NASDAQ: BKNG) today announced that it has successfully completed its previously announced plan to acquire Getaroom from Court Square Capital Partners for approximately $1.2 billion. Getaroom is a B2B distributor of hotel rooms, and will roll into Booking Holdings’ Priceline brand to form a new Strategic Partnerships business unit with the Priceline Partner Network.

“By combining the technology and expertise of Getaroom and Priceline, we believe we can increase value for both hotel and affiliate partners,” said Brett Keller, Chief Executive Officer of Priceline. “We are thrilled to welcome Getaroom to the Priceline family, and look forward to learning from each other to best support our partners.”

Getaroom will remain headquartered in Dallas and current Chief Executive Officer, Matt Davis, will lead Priceline’s new Strategic Partnerships business unit.

About Booking Holdings
Booking Holdings (NASDAQ: BKNG) is the world’s leading provider of online travel and related services, provided to consumers and local partners in more than 220 countries and territories through six primary consumer-facing brands: Booking.com, Priceline, Agoda, Rentalcars.com, KAYAK and OpenTable. The mission of Booking Holdings is to make it easier for everyone to experience the world. For more information, visit BookingHoldings.com and follow us on Twitter @BookingHoldings.

About Getaroom
Getaroom is a B2B-focused distributor of hotel rooms primarily serving leisure travelers within or traveling to North America. Getaroom’s mission is to simplify the complexity and costs of global distribution for hotels and deliver a single supplier solution for partners around the world that desire to offer a hospitality experience to their members, employees or customers.

SOURCE Booking Holdings Inc.

Source: PR Newswire

Trebia Acquisition Corp. and System1 Announce Closing of Business Combination

Combined Company to Trade on NYSE Under Ticker SST Commencing January 28, 2022

LOS ANGELES, Jan. 27, 2022 (GLOBE NEWSWIRE) — System1 (together with Protected.net Group, “System1” or the “Company”), an omnichannel customer acquisition marketing platform, and Trebia Acquisition Corp. (“TREB” or “Trebia”) (NYSE: TREB), a special purpose acquisition company formed by entities affiliated with William P. Foley II and Frank Martire Jr, announced today the completion of their business combination (the “Business Combination”). The Business Combination was approved by a majority of Trebia stockholders at a special meeting held on January 20, 2022.

Through a series of transactions, System1 has combined with Trebia, and Trebia has changed its name to “System1, Inc.” as of the closing date. Beginning on January 28, 2022, System1’s common stock is expected to begin trading on the New York Stock Exchange (“NYSE”) under the ticker symbol “SST.”

System1 brings to the NYSE a leading digital marketer that delivers high-intent customers to advertising partners and its own subscription products utilizing its omnichannel and omnivertical Responsive Acquisition Marketing Platform (RAMP). System1’s RAMP technology allows it to build brands with reach, develop and distribute a suite of privacy-focused products and deliver high-intent customers to its advertising partners.

System1’s management team, led by Chief Executive Officer and Co-Founder Michael Blend, will continue to lead the combined company, while Trebia’s Co-Founders William P. Foley II and Frank Martire Jr will join the combined company’s Board of Directors.

“I would like to thank the Trebia team for their hard work in providing us the vehicle to start System1’s next chapter as a public company,” commented Chief Executive Officer Michael Blend. “In a market where it is difficult to find value, System1 presents a unique opportunity to invest in a rapidly-growing and high cash flow-generating technology company at what we believe is an attractive valuation. We have built a fantastic team, and our RAMP technology is accelerating our business across customer acquisition and subscriptions.”

William P. Foley II, Chairman of Cannae, commented, “We are proud to partner with System1 and look forward to supporting this exciting new chapter for the company. With its proprietary RAMP technology and unique value proposition, we’re confident that System1 will continue to expand its position as a leading digital advertising company. We are excited to see System1 enter its next phase of growth, now with added capital resources.”

About System1
System1 combines best-in-class technology & data science to operate its advanced Responsive Acquisition Marketing Platform (RAMP). System1’s RAMP is omnichannel and omnivertical, and built for a privacy-centric world. RAMP enables the building of powerful brands across multiple consumer verticals, the development & growth of a suite of privacy-focused products, and the delivery of high-intent customers to advertising partners.

For more information, visit www.system1.com.

Trebia Acquisition Corp.
Trebia Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more business entities. The company was founded by William P. Foley, II and Frank R. Martire, Jr. on February 11, 2020 and is headquartered in New York, NY.

For more information, visit www.trebiaacqcorp.com.

Forward Looking Statements
This communication includes “forward-looking statements”. Forward-looking statements include, but are not limited to, statements regarding System1 or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this document may include, for example, statements about System1’s industry and market sizes; future opportunities for System1; expectations and projections concerning the future financial and operational performance and/or results of operations of System1.

The forward-looking statements contained in this document are based on System1’s current expectations and beliefs concerning future developments, and their potential effects on System1 taking into account information currently available.

These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause System1’s actual financial results or operating performance to be materially different from those expressed or implied by these forward-looking statements. Such risks, uncertainties and assumptions include, but are not limited to: (1) the impact of COVID-19 on System1’s business; (2) the inability to maintain the listing of System1’s common stock on the NYSE following the proposed Business Combination; (3) the risk that the Business Combination disrupts current plans and operations as a result of the consummation of the Business Combination; (4) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of System1 to grow and manage growth profitably, and retain its key employees; (5) costs related to the Business Combination; (6) changes in applicable laws or regulations (including those concerning data security, consumer privacy and/or information sharing); and (7) the possibility that System1 may be adversely affected by other economic, business, and/or competitive factors. The foregoing list of factors is not exclusive. Additional information concerning certain of these and other risk factors is contained in System1’s most recent filings with the SEC, including the Proxy Statement/Prospectus filed in connection with the Business Combination.

Contacts:

Investors
Ashley DeSimone
ICR, Inc.
Ashley.desimone@icrinc.com

Brett Milotte
ICR, Inc.
Brett.milotte@icrinc.com

Media
Dan McDermott
ICR, Inc.
Dan.mcdermott@icrinc.com

Source: GlobeNewswire

Novo Holdings to acquire Medical Knowledge Group

January 3, 2022: Novo Holdings A/S (“Novo Holdings”), a leading global life sciences investor, today announced that it has agreed to acquire Medical Knowledge Group from Court Square Capital and Aisling Capital.

Medical Knowledge Group (“MKG”) is an analytics-driven drug commercialisation platform servicing the biopharmaceutical industry. Through its various operating companies, MKG delivers healthcare provider-targeted solutions designed to maximise the clinical and commercial potential of the brands they support. MKG partners with some of the world’s largest biopharmaceutical companies as well as niche biotechnology firms.

Abhijeet Lele, Senior Partner and Head of Principal Investments U.S. at Novo Holdings, said: “With the remarkable growth trajectory of the biopharmaceutical services industry, largely driven by more complex therapeutics reaching the market and an increased global demand for omnichannel communications targeting healthcare providers, MKG has positioned itself in a very attractive space which fits well with the strategic objectives of the Principal Investment arm at Novo Holdings. I very much look forward to joining the team and becoming part of the continuous growth of MKG.”

Jonathan Levy, Senior Partner, Principal Investments at Novo Holdings, added: “Not only has MKG demonstrated an impressive track record for maintaining their existing client base, but the leadership team has also been very successful at welcoming new clients and partners to the group. We are very pleased to be joining MKG during this exciting time when the market for medical communications is growing at such a rapid pace.”

David Nguyen, Managing Partner at Court Square Capital, said, “Leon and his team have exceeded every strategic, financial and operating target we developed together at the time of our investment. This is an incredible achievement, and it validates our assessment of Leon as one of the most outstanding operators we have ever had the pleasure to work with. Our partnership with Leon and the MKG management team is a proof-point that validates Court Square’s strategy of investing along-side of founders, families and manager-owners. We would like to thank Leon and his team for their hard work and send our best wishes for MKG’s continued business success.”

MKG was founded in 2004 by Chief Executive Officer Leon Behar. Over the past 17 years MKG has grown to more than 500 employees across four offices located in New York, New Jersey, and Georgia. Leon Behar, who will continue in his current role, said: “I am thrilled to partner with the very experienced team at Novo Holdings. Importantly, the core values of MKG are completely aligned with those of Novo Holdings, and I am confident that this partnership will even further accelerate our growth. I would like to thank the Court Square team for being a true partner in enabling us to achieve our strategic objectives, organically and through acquisitions, over the last several years.”

The transaction is subject to customary closing conditions and is expected to close in the first quarter of 2022. Kirkland & Ellis, LLP served as legal advisor and Houlihan Lokey served as financial advisor to Novo Holdings. Willkie Farr & Gallagher LLP served as legal advisor while Harris Williams served as financial advisor to MKG.

About Medical Knowledge Group
Medical Knowledge Group is a New York based, independent analytics-driven and technology-enabled multi-channel marketing solutions provider serving marketing, medical affairs, and stakeholder relations teams at biopharmaceutical companies throughout the entire product lifecycle. Medical Knowledge Group has a diverse roster of clients ranging from niche biotech and diagnostic companies to some of the world’s largest companies in the industry. The Company is an analytics-centric, strategic marketing solutions provider that partners with clients to translate the complex science and data behind their brands into market shaping strategies that maximize their clinical and commercial potential.

About Novo Holdings A/S
Novo Holdings A/S is a private limited liability company wholly owned by the Novo Nordisk Foundation. It is the holding company of the Novo Group, comprising Novo Nordisk A/S and Novozymes A/S, and is responsible for managing the Novo Nordisk Foundation’s assets.

Novo Holdings is recognised as a leading international life science investor, with a focus on creating long-term value. As a life science investor, Novo Holdings provides seed and venture capital to development-stage companies and takes significant ownership positions in growth and well-established companies. Novo Holdings also manages a broad portfolio of diversified financial assets. Further information: www.novoholdings.dk.

About the Novo Nordisk Foundation
The Novo Nordisk Foundation is an independent Danish foundation with corporate interests. It has two objectives: 1) to provide a stable basis for the commercial and research activities of the companies in the Novo Group; and 2) to support scientific, humanitarian and social causes.

The vision of the Foundation is to contribute significantly to research and development that improves the lives of people and the sustainability of society. Since 2010, the Foundation has donated more than DKK 30 billion (USD 4.5 billion), primarily for research at public institutions and hospitals in Denmark and the other Nordic countries. Read more at www.novonordiskfonden.dk/en.

About Court Square Capital Partners
Court Square is a middle market private equity firm with one of the most experienced investment teams in the industry. Since 1979, Court Square has completed over 240 platform investments, helping managers, families and founder-owners to develop their companies into leaders in their respective markets. Court Square invests in companies that have compelling growth potential in the business services, industrial, healthcare, and tech and telecom sectors. Court Square has $7.5 billion of assets under management and is based in New York, N.Y. For more information on Court Square, please visit www.courtsquare.com.

About Aisling Capital
Aisling Capital is a leading life sciences investment firm that invests in products, technologies and global businesses that advance human health. Since 2000, Aisling has raised over $2 billion across five funds. The Aisling team’s combination of clinical, operational and financial experience allows the firm to partner with entrepreneurs to identify, execute and realise investments utilising a variety of structures across the life sciences industry. Aisling Capital is a registered investment advisor with the U.S. Securities and Exchange Commission. For more information, please visit www.aislingcapital.com.

Further Information
Marie-Louise Jersin, Senior Communications Partner, +45 3049 4957, maj@novo.dk

Source: Novo Holdings

GoEngineer Completes Recapitalization with Court Square Capital Partners

The new partnership will help GoEngineer grow geographically and expand capabilities

Salt Lake City, UT – January 13, 2022: GoEngineer (the “Company’), a leading provider of 3D design and additive manufacturing solutions, is pleased to announce that it has finalized a majority recapitalization of the business with Court Square Capital Partners (“Court Square”). Ken Coburn, Founder and CEO of GoEngineer, will continue to lead the business alongside the Company’s existing management team and will remain a significant investor alongside Court Square.

“We are pleased to have a partner that will enable us to accelerate our investments in engineering, sales and services capabilities to further expand our leadership in 3D design, PLM software and additive manufacturing technologies,” said Ken Coburn.

“Court Square is excited about the opportunity to partner with the management team at GoEngineer, and we are strong believers in the continued growth of the CAD and 3D printing markets,” said Jeff Vogel, Managing Partner at Court Square. “The acceleration of manufacturing grade additive technologies opens an exciting new chapter for the Company,” added Matt Dennett, Principal at Court Square.

Lazard served as financial advisor and Jones Day served as legal counsel to GoEngineer on this transaction. William Blair served as financial advisors and Dechert LLP served as legal counsel to Court Square. Churchill Asset Management provided financing for the transaction.

About GoEngineer
GoEngineer delivers software, technology, and expertise that enable companies to unlock innovation and deliver better products faster. With more than 35 years of experience and tens of thousands of customers in high-tech, medical, machine design, energy, and other industries, GoEngineer provides best-in-class design solutions from SOLIDWORKS, Stratasys, CAMWorks, Creaform, and Oracle’s Agile PLM. For more information on GoEngineer, please visit www.goengineer.com.

About Court Square Capital Partners
Court Square is a middle market private equity firm with one of the most experienced investment teams in the industry. Since 1979, Court Square has completed over 240 platform investments, helping managers, families and founder-owners to develop their companies into leaders in their respective markets. Court Square invests in companies that have compelling growth potential in the business services, industrial, healthcare, and tech and telecom sectors. Court Square has $7.5 billion of assets under management and is based in New York, N.Y. For more information on Court Square, please visit www.courtsquare.com.

Media Inquiries
For media inquiries please contact:
courtsquare@edelman.com

Source: Court Square

The Evans Network of Companies Has Been Recapitalized By Court Square Capital Partners

Thursday, September 2, 2021 — William Blair acted as the lead financial advisor to The Evans Network of Companies (Evans), a portfolio company of Calera Capital (Calera), in connection with its recapitalization with Court Square Capital Partners (Court Square).

Transaction Highlights

  • Deep sector expertise: Calera and Evans were attracted to William Blair’s extensive knowledge and experience within the transportation and logistics industry.
  • Process and execution excellence: The William Blair team worked closely with Evans management and Calera during an accelerated, high-touch process with a focused group of financial investors.
  • Strong relationship and trusted guidance: William Blair and the transaction leadership team have a strong relationship with Evans and Calera having advised on the prior sale to Calera and an add-on completed during Calera’s ownership.

About the Company
Founded in 1939 and based in Schuylkill Haven, Pennsylvania, Evans is a leading non-asset based logistics platform providing critical services at scale to a large and growing agent network of intermodal drayage, truckload, and freight brokerage agents. The Company operates as an outsourced provider of non-core but essential services to its agents, including a variety of back office functions (e.g., billing / collections, compliance, insurance and risk management, and IT) that enable agents to focus on their core activities of selling and dispatching freight. Providing these critical, centralized services at scale to vast, highly fragmented freight markets, Evans has driven robust growth through a combination of organic initiatives and a successful track record of highly accretive strategic acquisitions.

Founded in 1991, Calera Capital is a leading middle market private equity firm which has invested over $3.7 billion. With offices in Boston and San Francisco, Calera focuses on partnering with founders and management teams to drive significant value creation in their businesses, primarily in two industry sectors: Business Services and Specialty Industrials. Calera Capital makes substantial equity investments in middle-market businesses and works closely in support of management to build long-term sustainable value through the implementation of strategic and operating initiatives.

Court Square is a middle market private equity firm with one of the most experienced investment teams in the industry. Since 1979, Court Square has completed over 235 platform investments, helping managers, families and founder-owners to develop their companies into leaders in their respective markets. Court Square invests in companies that have compelling growth potential in the business services, industrial, healthcare, and tech and telecom sectors. Court Square has $7.6 billion of assets under management and is based in New York, N.Y.

Source: William Blair

Video Technology Leader Connatix Announces Significant Investment from Court Square Capital Partners

NEW YORK, July 19, 2021 (GLOBE NEWSWIRE) — Connatix, the leading video technology company for premium publishers and advertisers, today announced it has signed a definitive agreement to receive a significant investment from Court Square Capital Partners. By partnering with Court Square, one of the most experienced teams in private equity, Connatix plans to advance M&A, expand its global reach, and accelerate product innovation.

Founded in 2014, Connatix is dedicated to helping publishers and advertisers deliver premium video experiences. The end-to-end platform features the leading online video player, turn-key monetization formats, and an integrated ad server and exchange that were purpose-built for video. Additionally, the company has leveraged AI and automation technologies to build product offerings, including first-to-market contextual targeting and insights solutions and the recently unveiled Marketplace, a rich content library filled with dynamically updated videos that are created by Connatix for publishers. Connatix works with over 3,000 publishers worldwide, more than 1,000 advertisers, and is directly integrated with leading demand side platforms (DSPs).

Court Square Capital’s investment will help Connatix to accelerate growth through strategic M&A initiatives and to expand its reach by bringing market-leading video technologies to priority international markets later this year. And while Connatix has already begun to harness the unique power of contextual data for video advertising, this investment will also help the company further expand its successful demand-side offerings with new contextual innovations that continue to bridge the gap between advertisers and publishers.

“Since its inception, Connatix’s mission has been to help publishers grow their businesses through successful video experiences,” said David Kashak, CEO and Co-Founder of Connatix. “We are thrilled to partner with Court Square Capital to further this mission as we enter this next stage of growth. Their extensive experience, breadth of knowledge, and shared vision for the growth potential of Connatix made them the ideal investment partner.”

“Connatix has seen impressive growth, establishing itself as a leader in the market,” said Kevin White, Partner at Court Square Capital. “Court Square has a long history of backing market-leading, founder-led companies and we are excited to share our expertise and resources with Connatix, exploring organic growth channels and M&A opportunities that position the company for continued global success.”

David Kashak will remain the CEO of Connatix, and will serve on the board of Directors along with Co-Founder and COO Oren Stern. Volition Partners, an early investor in Connatix, will remain invested in the company. William Blair & Company served as the financial advisor to Connatix.

About Connatix

Connatix is a next-generation video technology platform for publishers. We believe in the power of engaging content and are on a mission to help publishers deliver successful videos without compromise. With a cutting-edge video player, optimization engine, and suite of turn-key video monetization formats, publishers can amplify video revenue while delivering engaging experiences. With first-to-market video capabilities, Connatix sits at the forefront of content innovation and is building a new generation of video experiences that are optimized for publisher success. Connatix works with over 3,000 publishers and 1,000 advertisers worldwide and was named a Deloitte Technology Fast 500 Company in 2020 and an AdExchanger Programmatic Power Player in 2021.

Founded in 2014, the company is headquartered in New York City with offices in Tel Aviv, Israel and Cluj-Napoca, Romania.

About Court Square Capital Partners

Court Square is a middle market private equity firm with one of the most experienced investment teams in the industry. Since 1979, Court Square has completed over 235 platform investments, helping managers, families and founder-owners to develop their companies into leaders in their respective markets. Court Square invests in companies that have compelling growth potential in the business services, industrial, healthcare, and tech and telecom sectors. Court Square has $7.0 billion of assets under management and is based in New York, N.Y. For more information on Court Square, please visit www.courtsquare.com.

Source: Connatix

Platinum Equity Acquires Healthcare Products Distributor NDC From Court Square Capital Partners

LOS ANGELES, March 8, 2021 — Platinum Equity announced today the acquisition of NDC, a healthcare supply chain company and distributor of consumable healthcare supplies, from an affiliate of Court Square Capital Partners.

Headquartered in Nashville, Tenn., NDC is one of the largest master distributors in healthcare and serves as an essential intermediary between medical supply manufacturers and a highly-fragmented base of regional and specialty distributor customers.

“NDC has built an impressive national distribution platform with substantial opportunity for growth,” said Platinum Equity Managing Director Jason Price. “The company has strong leadership, a service-oriented culture and a unique value proposition that makes the delivery of medical supplies more efficient. Our plan is to continue building scale organically and through additional partnerships or M&A activity to grow the company’s footprint and expand its base of customers and suppliers.”

NDC’s platform provides access to an inventory of approximately 53,000 different products from more than 400 manufacturers serving the primary care, acute care, dental, physical therapy, long-term care, home care and other specialty end markets.

“We are proud to have partnered with Mark Seitz and the NDC management team over the past five years to grow its diverse customer base, product lines and end markets,” said Jeff Abramoff, Partner at Court Square. “The success of this transaction is a result of the differentiated position NDC has in the healthcare supply chain and outstanding work from the NDC management team.”

NDC President and CEO Mark Seitz, who has been with the company for 16 years, will continue to lead the business under Platinum Equity’s ownership.

“This exciting and transformational partnership with Platinum Equity better positions our company to meet the demands of our dynamic industry,” said Mr. Seitz. “NDC’s culture is the foundation for our success and we will continue to serve you as your trusted supply chain partner to deliver efficiency to healthcare.”

Latham and Watkins served as legal advisor to Platinum Equity on the acquisition of NDC. BMO Harris Bank provided financing for the transaction.

William Blair & Company, Cantor Fitzgerald & Co. and Robert W. Baird & Co. served as financial advisors to Court Square and Dechert served as its legal advisor on the transaction.

About Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $23 billion of assets under management and a portfolio of approximately 40 operating companies that serve customers around the world. The firm is currently investing from Platinum Equity Capital Partners V, a $10 billion global buyout fund, and Platinum Equity Small Cap Fund, a $1.5 billion buyout fund focused on investment opportunities in the lower middle market. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 25 years Platinum Equity has completed more than 300 acquisitions.

About Court Square

Court Square is a middle market private equity firm with one of the most experienced investment teams in the industry. Since 1979, the team has completed over 235 investments, including several landmark transactions, and has developed numerous businesses into leaders in their respective markets. Court Square invests in companies that have compelling growth potential within the business services, general industrial, healthcare, and technology and telecommunications sectors. The firm has $7.0 billion of assets under management and is based in New York, N.Y. For more information on Court Square, please visit www.courtsquare.com.

About NDC

Founded in 1953, NDC provides complete supply chain solutions to distributors, manufacturers, GPOs and providers. With strategically located distribution centers across the United States, NDC serves the full continuum of healthcare, specializing in medical, dental, physical therapy, LTC, homecare and specialty end markets. As a leading provider of both upstream and downstream services to the largest distributor network in North America, NDC offers custom solutions for master distribution, last-mile delivery and vaccine buying groups. Learn more at www.ndc-inc.com.

Source: Platinum Equity

Thrive Completes Recapitalization with Court Square Capital to Accelerate Growth

The investment will enhance the client experience, facilitate geographic expansion and enrich Next Generation Platform automation capabilities

FOXBORO, MA. – January 28, 2021 Thrive, a leading provider of technology managed services, is pleased to announce that it has finalized a majority recapitalization with Court Square Capital Partners to reinforce its prominent market position. In addition to Court Square, Thrive’s existing financial sponsor, M/C Partners is continuing to participate alongside a substantial ownership stake by the company’s senior management team.

With their new partners, Thrive will accelerate its formidable investments in its Next Generation Technology including ServiceNow, Automation and AI. In addition, the Company intends to expand its customer success, sales and marketing teams, technical talent, Cybersecurity, and other product offerings, in addition to continued geographic expansion, both organically and via acquisition.

“Thrive is proud to have built a company whose business model has been validated by a sophisticated technology services investor with a strong track record like Court Square.” said Rob Stephenson, Thrive CEO. “Our goal has always been to be viewed as a leader in the managed services space and this partnership will greatly benefit our existing customers, as well as provide an opportunity to expand our Cloud, Cybersecurity and ServiceNow-Powered Next Generation Managed Services Platform to new clientele.”

“Court Square is excited about the opportunity to partner with Thrive’s management team to continue to grow their managed services practice.” said Jeff Vogel, Managing Partner at Court Square.

“We’ve been actively pursuing an investment in this space for a long time and believe Thrive’s NextGen Platform provides a differentiated competitive edge in the marketplace,” added Matt Dennett, Principal at Court Square.

“M/C remains a strong advocate of Thrive, its management team, business model and continued trajectory of success.” said Gillis Cashman, Managing Partner at M/C Partners. “We’re thrilled for the opportunity to carry on as investors and partner with Court Square Capital Partners in this next phase of growth.”

Drake Star Partners served as financial advisor and Choate, Hall & Stewart LLP and the BRL Law Group served as legal counsel to the Company on this transaction. Raymond James and 7Mile Advisors served as financial advisors and Dechert LLP served as legal counsel to Court Square Capital. Alliance Bernstein provided financing for the transaction.

###

About Thrive

Thrive is a leading provider of NextGen managed services designed to drive business outcomes through application enablement and optimization. The company’s Thrive5 Methodology utilizes a unique combination of its Application Performance Platform and strategic services to ensure each business application takes advantage of technology that enables peak performance, scale, and the highest level of security. For more information, visit thrivenextgen.com

Thrive: LinkedIn, Twitter, Facebook, YouTube and Instagram

MEDIA CONTACT:

Stephanie Farrell, Director of Corporate Marketing

617-952-0289 | sfarrell@thrivenetworks.com

About Court Square

Court Square is a middle market private equity firm with one of the most experienced investment teams in the industry. Since 1979, the team has completed over 235 investments, including several landmark transactions, and has developed numerous businesses into leaders in their respective markets. Court Square invests in companies that have compelling growth potential within the business services, general industrial, healthcare, and technology and telecommunications sectors. The firm has $7.0 billion of assets under management and is based in New York, N.Y. For more information on Court Square, please visit www.courtsquare.com.

About M/C Partners

M/C Partners is a private equity firm focused on small and mid-size businesses in the communications and technology services sectors. For more than three decades M/C Partners has invested $2.2 billion of capital in over 130 companies, leveraging its deep industry expertise to understand long-term secular trends and identify growth opportunities. The firm is currently investing its eighth fund, partnering with promising companies and empowering strong leaders to accelerate growth, optimize operations, and build long-term value. For more information, visit www.mcpartners.com.

Source: Thrive

J. Knipper and Company, Inc. Finalizes Acquisition of Eagle Pharmacy to Expand Company’s Pharmacy Programs, Scale and Automation Capabilities

LAKEWOOD, N.J. – November 11, 2020 − J. Knipper and Company, Inc., one of the largest suppliers of end-to-end pharmaceutical healthcare marketing services and solutions in the U.S., and its affiliates, including KnippeRx, announced today the Company has finalized a transaction to acquire Eagle Pharmacy, LLC, a full-service, direct-to-patient (DTP) pharmacy based in Lakeland, Florida.

“Eagle Pharmacy represents a strategic acquisition for Knipper to accelerate delivery on its mission to enhance the patient journey and create the shortest distance between patient and therapy by offering customized pharmacy solutions to pharmaceutical manufacturers, payors, prescribers, and patients,” said Michael Laferrera, CEO of J. Knipper and Company. “This acquisition will combine technology, leadership, and customizable services with highly automated dispensing services to deliver innovative, scalable, and value-added offerings. Our clients – patients, prescribers, and manufacturers – can expect an enhanced offering of services and support from these two leaders in the pharmaceutical channel strategy space.”

Eagle Pharmacy’s location in Lakeland, Florida adds state-of-the-art operational automation and scalability to KnippeRx’s current offerings, while providing pharmaceutical clients separation of customer pharmacy solutions under one trusted partner. Greater than 90 percent of enrollments completed by Eagle result in a shipment and clean orders are processed and shipped in less than one business day. With current operations at only 25 percent capacity, Eagle Pharmacy reaches about 200,000 patients a month, and supports more than 50 customized drug programs.

“Eagle Pharmacy has earned an outstanding reputation in the pharmaceutical industry,” said Stacy Huss, President, Eagle Pharmacy. “Eagle’s drug manufacturer programs are supported by its home delivery pharmacy that has consistently demonstrated unparalleled patient safety and delivery of high-level service to patients, physicians and manufacturers. We are delighted to join J. Knipper and Company and are excited by the opportunity to leverage our combined expertise so that patients and prescribers can have a streamlined alternative to traditional pharmacy channels with transparent timelines and a host of online patient services.”

Since its inception three years ago, KnippeRx has experienced rapid growth, responding to manufacturer needs by adding brand name, direct-to-patient programs to its pharmaceutical client offerings, including expansion of its biologic distribution, specialty dispensing and tech-enabled processing services. KnippeRx is one of the fastest growing providers of Patient Assistance Programs (PAP) services in the U.S. KnippeRx and Eagle Pharmacy are authorized to ship and dispense prescription medications throughout the U.S., the District of Columbia and U.S. territories.

Bass Berry & Sims, PLC provided legal counsel to J. Knipper and Company, Inc. P&M Corporate Finance, LLC served as the exclusive financial advisor to Eagle Pharmacy and Baker Hostetler provided legal counsel.

About J. Knipper and Company, Inc.

J. Knipper and Company, Inc., one of the largest suppliers of end-to-end pharmaceutical samples management services in the U.S., has been purpose-built on a strong foundation of more than 30 years of healthcare service and excellence. The Company has locations throughout New Jersey and Indiana.

For more information about J. Knipper and Company, please visit https://www.knipper.com.

About KnippeRx Inc.

KnippeRx is a highly nimble, independent specialty pharmacy that was purpose-built to overcome the complex barriers to access, providing the shortest possible path from initiation of script to delivery of essential therapy. As a patient-centric focused pharmacy, KnippeRx provides personalized patient assistance that includes PAP and starter dispensing of specialty therapies, high-touch biologics, and other products requiring temperature control. Our clear concentration enables us to provide exceptional services to manufacturers, patients, providers, and payers—in a manner never before offered in the specialty care environment. KnippeRx uniquely addresses the industry’s expressed need for increased speed to therapy and improved patient outcomes. We call it CARE. AT THE SPEED OF NEED.

For more information about KnippeRx, please visit https://www.knipperx.com.

About Eagle Pharmacy

Eagle Pharmacy is a patient centric pharmacy that was founded in 2012 with the vision to create a direct-to-patient pharmacy for patients who choose to take a brand name medication but lack affordable access. Eagle Pharmacy supports the stringent storage and handling requirements of pharmaceutical manufacturers, which provides manufacturers greater control over their distribution channel. Eagle has grown to encompass numerous manufacturer programs each uniquely designed to ensure patient access to brand name medications. Eagle Pharmacy specializes in distribution channel strategies that account for the entire lifecycle of a product, from new brand launches to loss of exclusivity. By providing a bridge between manufacturers and patients, Eagle facilitates service offerings that help both physicians and patients overcome financial and access challenges. Eagle’s leadership team collectively has over 50 years of experience in the pharmacy industry, specifically related to pharmacy benefit managers, patient assistance programs, specialty, retail and mail order pharmacy operations as well as reimbursement support services programs.

For more information about Eagle Pharmacy, please visit https://www.eaglepharmacy.com and https://www.eaglesfp.com.

Source: Knipper