Author Archives: admin

Hand & Stone Franchise Corporation

  • Business

    Hand & Stone is a leading franchisor and operator of spas offering affordable, convenient, and professional massage, skincare and health and wellness services. As of June 2022, Hand & Stone operates nearly 550 locations in the U.S. and Canada and serves a loyal base of over 500,000 members.

  • Harvest Partners Investments

    In June 2022, Harvest acquired Hand & Stone in partnership with management. To fund the acquisition, Harvest provided equity capital and arranged the debt financing. In addition, Harvest arranged equity co-investment capital.

  • Investment Thesis

    • A leading provider of health and wellness services in a large, growing and fragmented market
    • Long record of strong financial performance with compelling financial metrics
    • Attractive franchisor business model with strong unit economics and a healthy and diversified franchisee base
    • Recurring revenue given contractual royalty payments and monthly subscription model
    • Multiple levers for growth: same-store sales, franchise development, new services, supplier rebates, M&A
    • Management team with extensive record of innovation and execution

Harvest Partners Backs Ownership Works as a Founding Partner


New Nonprofit Supports the Development of Employee Ownership Programs to Drive Wealth Creation

NEW YORK

Harvest Partners, LP (“Harvest” or “the Firm”), an established private equity firm with an over 40-year history of investing in middle-market companies, announced today that the Firm is a founding member of the newly created nonprofit Ownership Works, whose mission is to increase prosperity through shared ownership at work. Ownership Works, which officially launched today, develops and helps implement broad-based employee ownership programs to create better work environments and financial opportunities for employees. By 2030, the nonprofit anticipates that the shared ownership movement in America will create hundreds of thousands of new employee-owners and generate at least $20 billion of wealth for working families.

The nonprofit was launched with the support of 60 partners across the private, public, and nonprofit sectors. Harvest is one of 19 investors among that group, each of which has committed to providing financial support, implementing new models of shared ownership within their portfolio companies, and supplying detailed data and reporting that will inform improvements and best practices as the programs evolve.

Jay Wilkins, President of Harvest, said, “Harvest Partners is honored to be a founding member of Ownership Works and fully endorses its mission, which strongly aligns with our firm’s core values and practices. Harvest has long taken the view that facilitating economic participation for our employees is essential to establishing, building and maintaining a culture of inclusion, drive and shared focus to help achieve our goals.”

Initially, Harvest will build on the employee ownership efforts of its portfolio companies Insight Global, an IT-enabled talent management company, and Integrity Marketing Group, a leading distributor of life and health insurance and provider of wealth management and retirement planning solutions.

“By working with Ownership Works and our portfolio companies to implement a similar approach, we hope to not only help build better companies but also to ensure a stronger foundation to power innovation, collaboration and results,” Mr. Wilkins added.

About Harvest Partners

Founded in 1981, Harvest Partners, LP is an established New York-based private equity investment firm that focuses on investments in middle-market companies in the business & industrial services, consumer, healthcare, industrials and software industries. Harvest’s control strategy leverages the firm’s over 40 years of experience in financing organic and acquisition-oriented growth.

About Ownership Works

Founded in 2021, Ownership Works is a nonprofit organization on a mission to increase prosperity through shared ownership at work. We partner with business leaders and investors to provide all employees with the opportunity to participate in the success they help create. Our shared ownership approach improves employees’ financial security, helps them build wealth and increases their on-the-job engagement. By creating stronger workplace cultures, our model also sets the stage for businesses to enhance performance and competitiveness. To learn more, please visit ownershipworks.org.

Ares Management Sells Stake in Convergint Technologies to Leonard Green and Harvest Partners


Highlights Convergint’s Strong Growth and Excellent Management Team Convergint’s Culture Is a Key Contributor to Its Success

LOS ANGELES and SCHAUMBURG, Ill.

Ares Management Corporation (NYSE: ARES) and Convergint Technologies (“Convergint” or the “Company”) today announced that Leonard Green & Partners, L.P. (“LGP”) and funds managed by Harvest Partners, LP (“Harvest”) have purchased equity in Convergint from a fund managed by Ares’ Private Equity Group (“Ares”) and other existing shareholders. As a result of the transaction, Ares, LGP and Harvest will be financial partners with the Company.

Headquartered in Illinois, Convergint is a global leader in service-based systems integration, working alongside a global network of partners and manufacturers to design, install and service security, fire alarm, life safety, audio-visual and building automation solutions for enterprise customers. Convergint maintains a global footprint with more than 7,100 colleagues in over 150 locations worldwide. Closing more than 50 acquisitions since 2001, the Company has significantly deepened its vertical market expertise across numerous sectors, particularly in data centers, utilities, healthcare and financial services. At the same time, the Company has expanded its global reach, allowing it to better serve multinational customers across the globe. The Company is also broadening its digital transformation solution offerings, investing in innovation to meet customers’ evolving needs. With Ares’ sponsorship, the Company has experienced strong growth with revenue and EBITDA more than doubling since 2017.

“We are pleased that LGP and Harvest are joining Ares as financial partners in Convergint. This transaction underscores the strength of the Company, its management team and its growth strategy,” said Matt Cwiertnia, Partner and Co-Head of Ares’ Private Equity Group and Chairman of the Convergint Board of Directors. “Over the course of Ares’ nearly four-year partnership with Convergint, we have closely collaborated to help the Company achieve strong growth, including notable expansion in sectors, services and geographies. We are proud that Convergint has been a meaningful champion for positive change by fostering a diverse, inclusive and socially responsible culture, which has benefited the business as a whole in addition to its colleagues, communities and stakeholders.”

“Convergint has generated strong momentum through its innovative approach to driving growth, and its deep commitment to its customers, colleagues and communities,” said Abraham Zilkha, Partner in Ares’ Private Equity Group and member of the Convergint Board of Directors. “We much look forward to continuing to support Convergint in capitalizing on the significant growth opportunities ahead for the company as a leader in a dynamic industry.”

“We could not have had any better partner than Ares over the past four years. With every important decision, Ares made sure that we remained focused on one guiding factor: do what is best for Convergint, our customers, and our colleagues,” said Ken Lochiatto, CEO of Convergint. “Ares’ strength and confidence helped us accelerate our investments for growth, and their help has been tremendous as we have worked to expand our inclusion and diversity efforts and further strengthen our culture and our commitment to our founding Values and Beliefs. They have provided leadership and insights that have helped us make meaningful progress, and we are grateful for their continued support and guidance.”

“We feel Convergint is well positioned for long-term success,” said John Danhakl, Managing Partner at Leonard Green & Partners. “Convergint’s strong, values-based culture and reputation for customer service excellence combined with its best-in-class management team and significant capabilities and footprint in the global security industry position the Company for meaningful future growth. We look forward to continuing to build on Convergint’s strong foundation as the world’s premier systems integrator, while generating value to all of its stakeholders.”

“Ken and the founders have built a global leader with a unique and winning culture that runs deep through the organization. Convergint’s differentiated culture has been a key driver of its long-term success and we are thrilled to work alongside Ares, LGP, and the outstanding leadership team on the next chapter of growth,” said Steve Carlson, Partner at Harvest Partners, who will join Convergint’s Board of Directors.

William Blair, Harris Williams and J.P. Morgan served as financial advisors, and Kirkland & Ellis LLP served as legal advisor to Ares and Convergint. Latham & Watkins LLP served as legal advisor to LGP. Ropes & Gray LLP served as legal advisor to Harvest.

About Ares Management Corporation

Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of September 30, 2021, Ares Management Corporation’s global platform had approximately $282 billion of assets under management, with approximately 2,000 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com. Follow Ares on Twitter @Ares_Management.

About Convergint

Convergint is a global, industry-leading systems integrator that designs, installs, and services electronic security, cybersecurity, fire and life safety, building automation, and audio-visual systems. Listed as the #1 systems integrator in SDM Magazine’s Top Systems Integrators Report for the past 4 years, Convergint leads with over 7,100 colleagues and more than 150 locations worldwide. Convergint recently launched Convergint Cares, a 501 (c)3 nonprofit, extending the company’s social responsibility efforts globally, supporting nonprofit entities throughout underserved communities, and providing educational, financial assistance to the families of U.S.-based colleagues. To learn more about Convergint, visit www.convergint.com.

About LGP

Leonard Green & Partners, L.P. (“LGP”) is a leading private equity investment firm founded in 1989 and based in Los Angeles with over $50 billion of assets under management. The firm partners with experienced management teams and often with founders to invest in market-leading companies. Since inception, LGP has invested in over 100 companies in the form of traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. The firm primarily focuses on companies providing services, including consumer, healthcare, and business services, as well as retail, distribution and industrials. For more information, please visit www.leonardgreen.com.

About Harvest Partners

Founded in 1981, Harvest Partners, LP is an established New York-based private equity investment firm that focuses on investments in middle-market companies in the business services & industrial services, consumer, healthcare, industrials and software industries. Harvest’s control strategy leverages the firm’s 40 years of experience in financing organic and acquisition-oriented growth. For more information, please visit www.harvestpartners.com.

Convergint Technologies Group, L.P.

  • Business

    Convergint is a global leader in service-based systems integration, working alongside a global network of partners and manufacturers to design, install and service security, fire alarm, life safety, audio-visual and building automation solutions for enterprise customers.

  • Harvest Partners Investments

    In December 2021, Harvest recapitalized Convergint in partnership with Leonard Green, Ares Management and management. To fund the acquisition, Harvest and Leonard Green provided equity capital.

  • Investment Thesis

    • A leading player in a large, growing and fragmented market
    • Mission critical service with a clear and compelling value proposition
    • Long record of organic growth and accretive tuck-in acquisitions
    • Attractive financial profile with strong, stable cash flows
    • Committed and talented management team with a record of success

Integrity Announces Strategic Investment from Silver Lake to Accelerate Growth as Omnichannel Insurtech Leader


Transformational partnership with Silver Lake will expand Integrity’s offering of life, health and wealth solutions into the future and help more Americans prepare for the good days ahead

DALLAS

Integrity Marketing Group, LLC (“Integrity” or “Company”), an omnichannel insurtech leader in life, health and wealth solutions, today announced a new strategic investment of $1.2 billion led by Silver Lake, the global leader in technology investing, for a minority stake in Integrity. Integrity’s founders, management and employees will continue to be the majority shareholders of the Company. Harvest Partners will remain the largest institutional investor, along with HGGC as a significant investor.

This partnership with the leading global technology investment firm is aimed at accelerating the ongoing development and implementation of Integrity’s innovative, one-of-a-kind omnichannel insurtech platform. In connection with this investment, Silver Lake will gain a seat on Integrity’s Board of Directors and will collaborate with Integrity’s leadership and partners on strategic initiatives to accelerate the Company’s organic growth initiatives.

“Integrity has experienced significant growth by expanding the ways we help Americans access life, health and wealth solutions,” said Bryan W. Adams, Co-Founder and CEO of Integrity. “We’ve invested heavily in technology and are constantly working to develop transformative solutions that improve the insurance and wealth management experience for Americans. We are thrilled that Silver Lake has chosen to join us on our journey to innovate insurance and leverage our unique omnichannel distribution network. Silver Lake’s proven experience and expertise in digital transformation will help position Integrity to support Americans in protecting their life, health and wealth more than ever before. This is a revolutionary partnership that will greatly enhance our mission to help Americans prepare for the good days ahead.”

“At Silver Lake, we invest in and help build and grow great companies,” said Egon Durban, Co-CEO of Silver Lake. “In meeting with Bryan Adams and the Integrity team, we were immediately impressed by their deep commitment to innovation and their passion for improving the insurance and financial planning experience for everyone. Insurance and wealth services are crucial components of the healthcare and financial markets — industries ripe for transformative innovation. We look forward to helping Integrity grow their already robust technology footprint and leverage their extensive data assets and unique distribution system to better meet consumer needs.”

Integrity expects new sales placement in 2021 to exceed $7 billion and to reach more than $20 billion of assets under management and advisement through its RIA and broker-dealer platforms by the end of the year. The Company’s 5,500 employees work with more than 420,000 agents and advisors who serve over 10 million clients annually. Integrity partners with the leading life and health insurance carriers to develop products and market them through its unmatched omnichannel distribution system.

“Integrity is at the epicenter of the U.S. healthcare and insurance markets. The amount of data and distribution capabilities that Integrity has assembled in their omnichannel approach is unlike anything in the market today,” said Adam Karol, Managing Director at Silver Lake. “Their enterprise-scale data assets, nationwide sales distribution network of consumer-focused insurance agents, tech-enabled contact centers, triple-digit growth rates and impressive M&A capabilities have created a unique insurtech platform that we’re excited to help grow.”

Silver Lake’s investment will provide valuable technology guidance and scale to Integrity’s expanding network of collaborative, tech-enabled partners in driving innovation across the enormous market for life, health and wealth protection in the U.S. Silver Lake will support Integrity to strengthen and magnify its mantra of “meeting consumers where they are on their life, health and wealth journey.” Integrity will continue its track record of transforming digital experiences in the industry, with the expanding support of Silver Lake’s deep expertise.

“Technology is reshaping the insurance industry and Integrity has been at the forefront of it,” said Jay Wilkins, President of Harvest Partners. “The Silver Lake investment will help take Integrity’s insurtech offerings to a whole new level.”

“The expansive leadership at Silver Lake is truly best in class — their track record of helping technology-driven companies like Integrity maximize opportunities speaks for itself,” added Steve Carlson, Partner at Harvest Partners. “This is a great day not only for Integrity and all of its partners, but also for the millions of Americans who stand to benefit from the improved processes and solutions we will provide together.”

“At Integrity, we will never stop striving to help the people we serve protect what matters most to them — and we’re thrilled that Silver Lake shares our vision,” added Co-Founder of HGGC and Integrity’s Chairman of the Board, Steve Young. “This partnership will allow us to expand our solutions portfolio, streamline our processes and enhance our ability to deliver the life, health and wealth solutions Americans need. We’re proud of what we’ve achieved so far, but we truly feel like we’re still just getting started. Silver Lake is in a class of its own in transforming companies with data, analytics and high aspirations. We’re confident Silver Lake will help Integrity’s forward-looking platform reach its full potential and we’re excited to add them to our investor group.”

Additional terms of the transaction, which is subject to customary closing conditions, were not disclosed.

For more information about the Silver Lake equity partnership with Integrity, view a video at www.integritymarketing.com/SilverLake.

About Integrity

Integrity, headquartered in Dallas, Texas, is a leading distributor of life and health insurance and provider of innovative solutions for wealth management and retirement planning. Through its partner network, Integrity helps millions of Americans protect their life, health and wealth with a commitment to meet them wherever they are — in person, over the phone and online. Integrity’s cutting-edge technology helps streamline the insurance and financial planning experience for all stakeholders. In addition, Integrity develops products with carrier partners and markets them through its distribution network of agencies, brokerages and RIAs throughout the nation. Integrity’s nearly 5,500 employees work with more than 420,000 agents and advisors who serve over 10 million clients annually. In 2021, Integrity expects to help carriers place more than $7 billion in new sales and will oversee more than $20 billion of assets under management and advisement through its RIA and broker-dealer platforms. For more information, visit www.integritymarketing.com.

About Silver Lake

Silver Lake is a leading global technology investment firm, with more than $88 billion in combined assets under management and committed capital and a team of professionals based in North America, Europe, and Asia. Silver Lake’s portfolio companies collectively generate more than $221 billion of revenue annually and employ more than 526,000 people globally. For more information about Silver Lake and its portfolio, please visit www.silverlake.com.

About Harvest Partners

Founded in 1981, Harvest Partners, LP is an established New York-based private equity investment firm that focuses on investments in middle-market companies in the business services & industrial services, consumer, health care, industrial and software industries. Harvest’s strategy leverages the firm’s 40 years of experience in financing organic and acquisition-oriented growth. For more information, visit www.harvestpartners.com.

About HGGC

HGGC is a leading middle-market private equity firm with over $5.6 billion in cumulative capital commitments. Based in Palo Alto, California, HGGC is distinguished by its Advantaged Investing approach that enables the firm to source and acquire scalable businesses through partnerships with management teams, founders and sponsors who reinvest alongside HGGC, creating a strong alignment of interests. Since its inception in 2007, HGGC has completed more than 300 platform investments, add-on acquisitions, recapitalizations and liquidity events with an aggregate transaction value of over $40 billion. More information, including a complete list of current and former portfolio companies, is available at www.hggc.com.

Corey Settler

Corey Settler joined Harvest in 2021. Prior to joining Harvest, he was a Staff Accountant at Michael S Settler CPA PC where he focused on individual and business tax preparation. Previously, Corey was an Assurance Associate in Financial Services at RSM US LLP.

Corey has a B.S. in Accounting from Syracuse University and a M.S. in Accountancy from Hunter College. He is an active Certified Public Accountant.

Kevin Yang

Kevin Yang joined Harvest in 2021. Prior to joining Harvest, he was an Associate at Spectrum Equity, where he focused on enterprise software investments. Previously, Kevin was an Analyst in the investment banking division at Evercore, where he focused on mergers & acquisitions for public and private companies across multiple sectors within the Technology Group.

He has a B.B.A in Finance from the Fox School of Business at Temple University.

Tyler Dineen

Tyler Dineen joined Harvest in 2022. Prior to joining Harvest, he was an Associate at Fortress Investment Group, where he was responsible for fund accounting and reporting for the firm’s Credit business. Tyler started his career at KPMG LLP, where he was a Senior Audit Associate in their Investment Management Group.

He has a B.S. in Accounting from Penn State University and is an active Certified Public Accountant.

Margy Taylor

Margy Taylor joined Harvest in 2021 and is a member of the Investor Relations team. Prior to joining Harvest, she was a Senior Associate in the Alternative Investments Division at PricewaterhouseCoopers where she focused on financial statement audits of multi-strategy funds.

She has a B.S. in Accounting from Lehigh University and has a M.S in Accountancy from NYU Stern School of Business. She is an active Certified Public Accountant.

Jeremy Sternbach

Jeremy Sternbach joined Harvest in 2022 as an Associate of Harvest Partners Ascend. Harvest Partners Ascend is a middle market platform focused on the Business and Technology Services sectors. Prior to joining Harvest, he was an Associate at Tailwind Capital, where he focused on healthcare, business services, and technology private equity investments. Previously, Jeremy was an Analyst in the investment banking division of Guggenheim Securities.

He has a B.A. in Economics from Tufts University.

MRI Software Addresses Real Estate Industry’s Sustainability Challenges With eSight Energy Acquisition


Addition of global energy use specialist bolsters MRI’s facilities and real estate management solution set and empowers organisations to improve energy efficiency and reduce costs

LONDON

MRI Software, a global leader in real estate software, announces it has acquired eSight Energy Limited, a UK-based software development company that empowers property owners, operators and occupiers worldwide to better manage their energy consumption and environmental footprint. Deploying eSight Energy® solutions enables organisations to improve energy-related decision-making and savings through off-the-shelf and customisable reporting and analytics. The acquisition enhances MRI’s comprehensive facilities and real estate management capabilities by adding energy monitoring solutions that decrease operating costs, reduce environmental impact, improve facility performance, and help meet legislative and compliance standards.

“One of the foundations of a well-connected community is sustainability. With this acquisition, we’re excited to continue empowering organisations to take on the challenge by helping them meet their environmental, social and governance goals,” says Saurabh Abhyankar, MRI’s Chief Product Officer. “Improving sustainability and energy efficiency results in a rare win-win-win by reducing costs, improving occupant health and helping the planet. eSight Energy provides businesses with the tools they need to help ensure they are doing everything they can to achieve these goals.”

eSight Energy software integrates with a broad range of real estate data sources and delivers a unified view of a company’s energy footprint – whether via interactive dashboards or detailed, customisable reports. The result is to provide actionable insights that reduce costs and consumption, helping organisations raise the value of their real estate portfolios while contributing to a more sustainable environment. Headquartered in Cambridge, UK, with offices in the US, the company monitors more than 260,000 buildings and production sites across 60 countries, helping its customers realise up to 30% savings on their energy costs.

MRI continues to invest in solutions that drive efficiency in every part of the organisation – from space scheduling, planning and booking to facilities lifecycle management to best-practice energy usage. The acquisition reinforces the company’s commitment to helping clients produce better overall ESG outcomes now and in the future. In addition, the information generated by eSight Energy software can be used to meet financial reporting requirements, such as energy and carbon reporting required by some governments. The software also simplifies and automates the tenant billing process, enabling accurate invoicing and on-time payments: It reads consumption data from tenant meters, generating error-free invoices; for multi-tenant buildings, the system can track individual submeters.

Janie Jefferies-Freer, CEO at eSight notes: “As a global leader in real estate software solutions, MRI furthers our reach and ability to help organisations worldwide boost their energy performance and environmental impact. From retail stores to universities to office blocks, today’s buildings are powered by a multitude of energy sources that produce large amounts of data from various systems, sensors and monitors. Combining eSight’s ability to tap into that data with MRI’s facilities management capabilities enables more organisations, whether large or small, to track energy consumption, identify issues and quickly resolve them.”

Founded in 1998 with the goal of monitoring energy consumption and reducing associated costs, eSight enables organisations to centralise and analyse all types of data affecting the energy efficiency of their buildings and equipment regardless of the data’s source, system or format. MRI will continue to support eSight users without interruption.

About MRI Software

MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organisations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

Fortis Solutions Group

  • Business

    Fortis Solutions Group (Fortis) is a leading converter of short and medium run length pressure sensitive labels, multi-ply coupon and booklets, flexible packaging printing, shrink sleeves, folding cartons, and label applicators. The Company serves a blue-chip customer base across the food and beverage, health and beauty, retail, agricultural chemical, and nutraceutical end markets. Fortis has a full range of flexographic and digital printing capabilities across fifteen manufacturing and sales offices across the United States.

  • Harvest Partners Investments

    In October 2021, Harvest recapitalized Fortis in partnership with Management. To fund the acquisition, Harvest provided equity capital and arranged debt financing. In addition, Harvest arranged equity co-investment capital.

  • Investment Thesis

    • Leading player in a large, stable and fragmented end-market
    • Attractive financial profile with a strong margin and free cash flow profile
    • Highly recurring revenue base with blue chip customers due to low cost, mission critical nature of the product
    • Proven M&A platform with a deep pipeline of potential acquisition targets
    • Strong and committed management team with a track record of success

Affordable Care

  • Business

    Affordable Care, LLC (“Affordable Care”) is the nation’s leading provider of tooth replacement services, serving affiliated dentists at more than 370 practices in over 40 states across the U.S. Their core offering consists of a variety of denture and implant-based solutions designed for patients suffering from complications associated with tooth loss.

  • Harvest Partners Investments

    In August 2021, Harvest Partners recapitalized Affordable Care in partnership with Berkshire Partners and management. To fund the acquisition, Harvest Partners, Berkshire Partners, and management provided equity capital. In addition, Harvest arranged the debt financing and equity co-investment capital.

  • Investment Thesis

    • Leading platform in a large, growing, and fragmented tooth replacement market
    • Compelling value proposition with durable competitive advantages
    • Long-term track record of consistent organic and inorganic growth
    • Strong management team with a track record of success

Experienced Healthcare Investor Paige Daly Assumes Healthcare Private Equity Association Chair


Together with Alex Albert as Vice Chair, the pair plans to further the vital role HCPEA plays for its members and the industry

CHARLOTTESVILLE, VA

Today, the Healthcare Private Equity Association (HCPEA), a nonprofit trade association focused on supporting the healthcare private equity community, announced the appointment of Paige Daly, Partner at Harvest Partners, to the position of Association Chair, effective July 1, 2021. Daly assumes the role from Diane Daych, Managing Partner and Co-Founder at Granite Growth Health Partners.

“After one of the most challenging years in recent history for healthcare, I’m excited to lead our efforts in bringing members together and providing them with the resources and support needed to further their connections”

Founded in 2010, HCPEA is the only single-sector private equity association in the U.S. and serves as a convener for its members consisting of more than 800 investors, representing 80 of the country’s most prestigious firms. To-date, members have invested in more than 1,500 successful healthcare companies that bring innovation and new ideas to the market, leading to increased access and better care outcomes for patients.

“After one of the most challenging years in recent history for healthcare, I’m excited to lead our efforts in bringing members together and providing them with the resources and support needed to further their connections,” said Daly. “It’s these connections that strengthen our industry as a whole while leading to stronger investments that result in greater patient care and improved healthcare outcomes.”

Daly will be joined by Alex Albert, Founding Partner, Patient Square Capital as the newly appointed HCPEA Vice Chair. Together, Daly and Albert will continue advancing efforts to enhance the member experience through new programming, expanded networking events, and deeper mentorship opportunities. These efforts will help drive stronger connections, smarter investments, and ultimately, better patient care.

“HCPEA is a unique organization, providing a differentiated experience for our members and a focus on improving healthcare,” said Albert. “In addition to exceptional professional development opportunities and practical leadership education at all levels, we provide access to a network of like-minded peers, supporting mentorship and camaraderie amongst the community of members.

About Paige Daly, HCPEA Chair

Paige Daly is a Partner at Harvest Partners, which she joined in 2010. She concentrates on growth capital, buyout, and recapitalization investments in healthcare businesses. Prior to joining Harvest, Daly was a Partner at Apax Partners. Daly has a BS in Economics from The Wharton School of the University of Pennsylvania and an MBA from Harvard Business School. She currently serves on the boards of Advanced Dermatology, Eyecare Services Partners and Dental Care Alliance.

About Alex Albert, HCPEA Vice Chair

Alex Albert is a Founding Partner of Patient Square Capital. He has over 15 years of investment and acquisition experience. Prior to joining Patient Square, Albert was a Partner at Ares Management where he served as the co-head of healthcare within the Private Equity Group. Most recently, Albert served on the Board of Directors of the parent entities of DuPage Medical Group, National Veterinary Associates, OB Hospitalist Group and Unified Women’s Healthcare. Albert holds a BA, magna cum laude, from Vanderbilt University in Economics and an MA from Columbia University in Quantitative Methods. He also holds an MPhil from Oxford University in Economics. Mr. Albert is a CFA® charterholder.

About HCPEA

The Healthcare Private Equity Association (HCPEA) is a nonprofit trade association whose mission is to support the reputation, knowledge, and relationships of the healthcare private equity community. Its member firms are passionate about healthcare and are committed to building successful enduring businesses that “do well” while “doing good.” As well as capital, our members bring industry knowledge, broad networks, and deep expertise to help companies grow, create jobs, and deliver high-quality healthcare. Collectively, HCPEA member firms have over $1 trillion in AUM and have supported the growth of 1500+ healthcare businesses.

MRI Software Acquires Palace, New Zealand’s Leading Property Management Solution Provider


Global PropTech company extends its footprint in ANZ with addition of software for regional property managers and agencies

AUCKLAND, NZ

MRI Software, a global leader in real estate software, announces that it has acquired Palace, New Zealand’s market-leading provider of residential property management solutions. The acquisition extends MRI’s offering and market presence in New Zealand while giving Palace and its clients access to the innovation, scale, and partnerships of a well-established industry leader.

“Our acquisition of Palace is part of MRI’s strategic global growth plan and a welcome addition to our Asia-Pacific business,” says David Bowie, MRI Software’s Senior Vice President and Managing Director, Asia-Pacific. “Bringing Palace into the MRI fold enhances our ability to serve the New Zealand market by empowering property managers and agencies with solutions that help them keep pace with local reporting and compliance requirements, including the healthy homes standards.”

Founded in 1999 and with offices in Auckland and Wellington, Palace has over 700 clients who use its solutions to manage more than 150,000 properties. Palace’s extensive partner program, which includes more than 40 partnerships and integrations, will offer expanded flexibility and choice for MRI clients in the region. MRI will continue to support, without interruption, the property managers and agents that use Palace.

Michael Abbott, Palace’s Chief Executive Officer, adds: “Palace and MRI are a great fit. Both companies are firmly committed to an open and connected approach that gives clients the flexibility to integrate the solutions that work best for their business. The deal strengthens MRI’s local expertise, while Palace and its clients gain access to additional property and workplace solutions as well as administrative and financial tools for managing wider property portfolios.”

The deal comes on the heels of MRI’s acquisition of Wellington-based WhosOnLocation, further extending MRI’s presence in New Zealand. Since MRI’s August 2019 acquisition of Rockend, the leading residential property management player in Australia, the company has grown its offering in the ANZ region to cover the full scope of solutions across the residential, commercial, investment and occupier sectors.

Clare Capital, a Wellington-based corporate finance advisory firm, acted as the exclusive financial advisor to Palace.

About MRI Software

MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MRI Software Enters Agreement to Acquire Manhattan Real Estate and Workplace Solutions from Trimble


Global PropTech provider boosts its workplace management offering, enhancing its unique position to serve real estate owners, operators, and occupiers

SOLON, OH 

MRI Software, a global leader in real estate software, announces that it has entered into an agreement to acquire Manhattan, the real estate and workplace solutions division of Trimble (NASDAQ:TRMB), based in Sunnyvale, California. The acquisition will extend the range of MRI’s occupier solutions, providing a broader scope of offerings for commercial property owners, operators, and tenants worldwide. The transaction is subject to a number of closing conditions and is expected to close in the first half of 2021.

“The world of work has changed fundamentally over the past year, and companies require innovative solutions that enable flexibility for their workplaces and leases,” says Patrick Ghilani, Chief Executive Officer of MRI Software. “The acquisition of Manhattan will bring a well-respected industry leader with a strong heritage into the MRI fold, and our combined workplace management capabilities uniquely position us to serve the needs of owners, operators and tenants across the real estate spectrum.”

The acquisition aligns with the ongoing strategic expansion of MRI’s corporate occupier business, giving clients a 360-degree view of their workplace and simplifying the complexities of managing diverse portfolios. Additionally, the acquisition enhances MRI’s Integrated Workplace Management System (IWMS) offering with robust workplace scheduling and facilities management capabilities, complementing its comprehensive lease accounting and administration offering. Manhattan clients gain access to a broader scope of applications to manage their lease portfolio, including MRI’s artificial intelligence (AI)-powered lease abstraction platform. In addition to strengthening MRI’s technological footprint, the acquisition also bolsters its client base in North America, Europe and Asia Pacific, and the combined company will serve 2,300 corporate occupiers. Manhattan has employees in the United States, United Kingdom, India, and Australia.

Suresh Sundaram, General Manager of Trimble Real Estate Solutions, said: “There is a real synergy between Manhattan’s offering and MRI’s occupier solutions that will benefit the clients of both businesses – and indeed any corporate occupier. Manhattan will gain from joining a larger organization committed to investing in innovative real estate technology. Both companies have a tremendous commitment to enabling finance and real estate teams to better manage their lease portfolios while maintaining compliance with global lease accounting standards, including FASB, IASB, and GASB.”

The agreement to acquire Trimble’s real estate division follows the acquisition at the end of January of North Carolina-based AMTdirect, a provider of lease accounting, lease administration and facilities management solutions for corporate occupiers and lessees. Both moves underline MRI’s growth strategy to expand its offerings for the global workplace management market. MRI will continue to support Manhattan clients without interruption.  

About MRI Software

MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open, and connected platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

Granicus

  • Business

    Granicus is a leading provider of citizen engagement and workflow SaaS solutions to federal, state and local governments. Granicus empowers stronger relationships between government agencies and citizens through comprehensive cloud-based solutions for communications, meeting and agenda management software, website design, and records management. Granicus serves nearly 4,500 federal, state and local government agency customers and more than 250 million citizen subscribers across 50 states.

  • Harvest Partners Investments

    In January 2021, Harvest recapitalized Granicus in partnership with Vista Equity Partners, K1 Investment Management and Management. To fund the acquisition, Harvest provided equity capital and arranged debt financing. In addition, Harvest arranged equity co-investment capital.

  • Investment Thesis

    • Leading player in a large, stable and growing end-market
    • Sticky software solutions with clear and compelling value propositions
    • Attractive financial profile with significant recurring revenue, business diversification, high margins and strong free cash flow
    • Impressive track record of organic growth with numerous growth levers
    • Proven M&A platform with a deep pipeline of strategic acquisition candidates
    • Strong and committed management team with track record of success

MRI Software Acquires AMTdirect, a Provider of Lease and Facilities Management Solutions


Proptech Firm Broadens Market Footprint and Increases Scale of Offerings for Corporate Occupiers

SOLON, OH

MRI Software, a global leader in real estate technology, has acquired AMTdirect (“AMT”), a North Carolina-based provider of lease accounting, lease administration and facilities management solutions for corporate occupiers and lessees. Clients across a wide range of industries use AMT’s technology to organize and manage their lease portfolios while ensuring compliance with global lease accounting standards, such as FASB, IASB, and GASB.

“Today’s businesses require technology to adapt to the changing nature of work,” says Patrick Ghilani, Chief Executive Officer of MRI Software. “Commercial tenants must efficiently manage their space to provide a safe, flexible experience for employees, while also strategically managing their leases to maintain compliance with new lease accounting standards.”

The acquisition further reinforces MRI’s commitment to the occupier sector and increases its market presence. MRI’s solutions serve the needs of all parties in a building, covering property owners, operators, and tenants. The company now serves approximately 2,000 occupier clients worldwide.

Ghilani adds, “We’re excited to welcome AMTdirect to the MRI family. With this acquisition, we are further increasing the depth of our offering for corporate tenants, while enabling AMT’s clients to take advantage of solutions that complement lease management, such as lease administration, space management, and AI-powered lease abstraction.”

“We are eager to begin this new chapter,” says Jeff Ralyea, CEO of AMTdirect. “MRI is a pioneer in the industry and has a stellar reputation for innovation. As part of MRI, we can give our clients access to a broader variety of tools that will fuel business growth.”

MRI will continue to support AMT users without interruption.

Kirkland & Ellis served as MRI’s legal advisor. AMTdirect was an investment held by Luminate Capital Partners.

About MRI Software

MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work, and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

Vincit Group

  • Business

    The Vincit Group (Vincit) is a leader in food safety and pathogen control services for the protein industry. Vincit plays an important role in ensuring compliance with food safety standards and protecting the food supply chain. They have a large presence throughout the U.S. and serves a blue chip customer base across the food and beverage industry.

  • Investment Thesis

    • Leading provider of mission critical products and services
    • Attractive end markets with outsourcing tailwinds
    • Recurring revenue base with blue chip customers
    • Untapped M&A opportunity
    • Strong free cash flow profile

PRO Unlimited Further Strengthens Its Contingent Workforce Management Platform with the Acquisition of PeopleTicker


Combined technologies provide companies with the industry’s most advanced data and intelligence solution to better attract and retain talent while reducing costs

SAN FRANCISCO, CA

PRO Unlimited, a global innovator in contingent workforce management, today announced the acquisition of PeopleTicker, a leader in compensation data specializing in contingent labor rates and hiring intelligence globally. The companies’ combined technologies enable HR, talent acquisition, procurement, and compensation professionals to access strategic insights and market rate benchmarking to better attract and retain talent while reducing costs. The PeopleTicker addition supports PRO’s commitment to invest in its clients, advance innovation and enhance the power of PRO’s contingent workforce management platform the Global 2000 relies upon. 

Today, the war for talent is more strategic and mission critical than ever as the contingent workforce rapidly approaches a full 50% of all white-collared skill workers. As a result, high-quality, accurate market rate data in hundreds of markets across thousands of job titles has never been more important as enterprises increasingly globalize their programs. Also, many compensation experts have a great need for on-demand access to accurate market rate data required to optimize hiring decisions. Lacking robust market intelligence, these organizations frequently pay higher market rates by role and/or location, resulting in significant unnecessary spend and highly sub-optimized talent placement.

To help address this need, PRO has expanded the capabilities of its contingent workforce management platform by acquiring PeopleTicker’s data science and market rate intelligence. PeopleTicker uses machine learning and industry-expert crowdsourcing to assemble the most comprehensive, accurate, current global market rate data in the industry. Extensive expertise with salary and contingent labor categories along with hands-on experience of global labor markets has made PeopleTicker a trusted partner to many leading brands across 160 countries. With PeopleTicker’s global data and rate intelligence exclusively coupled with PRO’s industry-leading Managed Services Program (MSP), Vendor Management System (VMS), payroll/compliance and RatePoint business intelligence software and services solutions, Global 2000 companies will have direct access to this intelligence. This enables $10s or $100s of millions annually in optimization as organizations look to scale and efficiently manage the costs of their white-collar, contingent talent programs.

“Now more than ever, companies are seeking ways to win the war for talent as the white-collar world shifts to contingent vs. full time. They need to lower spend, reduce complexity and source the best talent possible given the massive acceleration – globally – of the contingent workforce segment,” said Kevin Akeroyd, CEO, PRO Unlimited. “We are excited that we can now offer clients the most optimal and advanced data and intelligence solution available in the market to meet their sourcing needs around the world. This acquisition strengthens our comprehensive data, software and services platform while delivering the innovation that the industry has been waiting for. This offering is now exclusively available through our Wand VMS and RatePoint SaaS solutions, as well as a suite of DaaS solutions to further enable our clients’ success. It also further differentiates PRO’s platform in the marketplace, as no one else in the industry has this combination of solutions for the modern, global enterprise.”

“Our primary goal has always been to focus on the specialization and nuances of sourcing non-employee labor. Harnessing the power of data and analytics and making it easily accessible to companies provides them with a unique competitive advantage,” said Joseph Musacchio, CEO and President, PeopleTicker. “PRO Unlimited was the clear choice when searching for an organization to deliver our technology to the world. We couldn’t be more pleased about the opportunity to have PRO bring our vision to light.”

This announcement comes on the heels of PRO’s recent launch of RatePoint, the industry’s most powerful rate intelligence SaaS offering. RatePoint SaaS combined with PeopleTicker DaaS will enable organizations to more quickly source and accurately price contingent labor anywhere in the world. This acquisition will expand PRO’s already large global footprint and strengthen its comprehensive and integrated platform with the addition of true data and intelligence solutions to its SaaS and services solutions.

To learn more about PRO’s Rate Intelligence platform, please visit www.prounlimited.com/ratepoint-details.php

About PRO Unlimited

PRO Unlimited offers the industry’s most comprehensive and holistic platform for contingent workforce management, and helps organizations around the world address the costs, risks and quality issues associated with managing the non-employee workforce. PRO’s platform consists of integrated SaaS software and services solutions that are built on the world’s most robust contingent workforce data set, spanning over 30 years. A pioneer and innovator in the industry, PRO’s platform provides solutions for the procurement and management of contingent labor, global rate intelligence, direct sourcing, 1099/co-employment risk management, third-party payroll, and diversity and inclusion. www.prounlimited.com

Galway Insurance

  • Business

    Galway Insurance Holdings (Galway Insurance or Galway), the holding company for EPIC Brokers & Consultants and JenCap Holdings, is a diversified insurance brokerage distribution platform with retail, wholesale, program administration and managing general agent capabilities. In total, Galway manages over $7 billion of insurance premiums and operates over 100 offices serving all 50 states.

  • Harvest Partners Investment

    In December 2020, Harvest led the recapitalization of Galway in partnership with Oak Hill Capital, The Carlyle Group and management. To fund the acquisition, Harvest, Oak Hill Capital and The Carlyle Group provided equity capital and arranged the financing. In addition, Harvest arranged equity co-investment capital.

  • Investment Thesis

    • Leading provider in a large, fragmented and growing end market
    • Diversified, vertically integrated, insurance brokerage model
    • Recurring revenue with strong, stable cash flows
    • Strong history of organic growth with multiple organic growth levers
    • Actionable industry consolidation opportunity, with a proven M&A strategy and deep pipeline of acquisition candidates
    • Committed and talented management team with a track record of success

Granicus Announces Joint Investment From Harvest Partners and Vista Equity Partners


Harvest and Vista join forces to support Granicus’ vision and momentum delivering broad digital transformation to governments with the industry’s first Civic Engagement Platform

DENVER, CO

Granicus, the leading provider of cloud-based citizen engagement technologies and services, today announced that Harvest Partners (“Harvest”) has joined as an investor alongside Vista Equity Partners (“Vista”) and K1 Investment Management (“K1”) to support Granicus’ continued growth and market leadership. As a technology innovator and trusted partner to governments, Granicus will continue to support government institutions as they transition to the cloud and adopt broader digital transformation initiatives to modernize their operations and connectivity to their constituents.

“As an established private equity firm with nearly 40 years of investing experience, Harvest looks to partner with market-leading organizations and leadership teams. Granicus’ solutions and expertise have proven to be invaluable to public sector customers who are increasingly leveraging digital tools to serve their constituents.”

“2020 has been an unprecedented year. But in the face of adversity, we’ve been inspired by the resilience and innovation exhibited by government leaders as they rapidly respond to the challenges brought on by the pandemic,” said Mark Hynes, CEO of Granicus. “We are proud to play our part in helping our government customers accelerate digital connections with constituents. We are thrilled to continue our work with Vista while adding Harvest to the team as we work side-by-side with governments on their digital transformation journeys.”

During the human, health and economic crises brought on by the COVID-19 pandemic, government agencies have increasingly turned to Granicus solutions to help them rapidly communicate and respond to the urgent needs of their communities. Supporting over 4,500 government agencies, 50,000 government users, and 250 million citizens, Granicus’ industry-leading platform of integrated web and mobile applications, digital communications, online digital service delivery, and virtual civic participation solutions has enabled governments to rapidly transition to be ‘always on’ as residents and citizens needed it most.

“As an established private equity firm with nearly 40 years of investing experience, Harvest looks to partner with market-leading organizations and leadership teams. Granicus’ solutions and expertise have proven to be invaluable to public sector customers who are increasingly leveraging digital tools to serve their constituents.” said David Schwartz, Partner of Harvest Partners. “We look forward to working with Mark and the Granicus team as they continue to enable government agencies to provide critical services more efficiently and effectively,” said Joshua Carter, Principal of Harvest Partners.

During one of the most challenging periods in modern history, Granicus has helped government leaders deliver over 5 billion COVID-related digital messages to constituents, conducted over 2,500 virtual community council meetings, and enabled hundreds of thousands of digital service transactions to ensure that people could remain informed, connected, and safe during the pandemic while maintaining access to vital services.

“Granicus has proven itself to be an essential partner to government workers and organizations—from the largest federal and state agencies to smaller local agencies and special districts,” said Patrick Severson, Managing Director of Vista Equity Partners. “During this unprecedented time, Granicus has demonstrated that the advanced capabilities and interoperability of the technology provided by its Civic Engagement Platform has never been more important and is here to stay. We are proud of the Granicus team and excited to partner with Harvest as we help build a more connected government.”

William Blair & Company acted as exclusive financial advisor and Kirkland & Ellis acted as legal advisor to Granicus.

About Granicus

Granicus connects governments with the people they serve by providing the first and only Civic Engagement Platform for the public sector. Nearly 4,500 federal, state and local government agencies and more than 250 million citizen subscribers power an unmatched Subscriber Network that turns government missions into quantifiable results. With comprehensive cloud-based solutions for communications, government website design, online service delivery, meeting and agenda management software, and records management, Granicus empowers stronger relationships between government and citizens. Learn more at granicus.com.

Harvest Acquires Galway Insurance Holdings


Galway Insurance Holdings Secures Majority Interest from Harvest Partners with New Equity Investments from Oak Hill Capital and The Carlyle Group

SAN FRANCISCO, CA

Galway Insurance Holdings (“Galway”), the holding company for EPIC Brokers & Consultants (“EPIC”) and JenCap Holdings (“JenCap”), which together represent one of the nation’s largest insurance distribution firms, announced today that it has signed a definitive agreement with vehicles controlled by Harvest Partners, LP and its affiliates (“Harvest”) for a majority interest of Galway. Galway’s existing private equity investors Oak Hill Capital (“Oak Hill”) and The Carlyle Group (“Carlyle”) will reinvest alongside the management team and employee shareholders, who will remain significant shareholders. Terms of the transaction were not disclosed.

In total, Galway manages over $7 billion of insurance premiums, employs over 3,100 associates and operates over 100 offices serving all 50 states. EPIC and JenCap are ranked as the 14th and 8th largest retail and specialty distribution brokers by Business Insurance magazine, respectively.

John Hahn, co-founder and Chairman of Galway, said, “We are thrilled with the outcome and are excited to welcome Harvest on as partners. To have them alongside Oak Hill and Carlyle presents us with a formidable group of investors highly supportive of our vision to continue to build a differentiated business within insurance distribution. This recapitalization provides us with the ability to be opportunistic in today’s market; to grow and expand each of Galway’s related specialty strategies around retail brokerage, risk management, wholesale brokerage, program administration and underwriting management.”

EPIC CEO, Steve Denton said, “The addition of Harvest Partners and the ongoing commitment of both Oak Hill and Carlyle allows our retail platform to continue our exponential growth in all aspects of our business which now includes comprehensive, nationwide solutions across industry focused practices in employee benefits and property & casualty along with dedicated resources in areas like risk management, small commercial and private clients.”

John Jennings, co-founder and CEO of JenCap, said, “This is exactly why we joined the Galway platform; the business dynamics of the holding company are extremely attractive for investors and will allow us to pursue our aggressive growth goals, while building out further specialty expertise and depth across our platform for our twelve thousand retail clients.”

Jay Wilkins, COO and Partner of Harvest, said, “John, Steve and John have built an exceptional business with the support of Oak Hill and Carlyle that we look forward to continue aggressively growing” with Steve Carlson, Partner, adding “it is an optimal time to invest in such a strong team to capitalize on favorable dynamics in the insurance distribution space.”

Steve Puccinelli, Managing Partner of Oak Hill said, “Since our original 2017 investment in EPIC, John Hahn and his top-tier team have more than tripled the business, significantly expanding that company’s unique platform and successfully joining it with JenCap to create Galway in June of this year. We are excited to continue to partner with the Galway management team, as well as Harvest and Carlyle, to build the preeminent growth platform in insurance distribution.

John Redett, Managing Director and Head of Carlyle’s Global Financial Services group, said, “We’re proud of our long-standing partnership with John Hahn and the rest of the management team. John and the Galway team have done a fantastic job growing the business since we initially invested in 2013 and we believe Galway is positioned to capitalize on a number of strategic initiatives going forward. The addition of Harvest Partners and continued investment from Carlyle, Oak Hill Capital, and management further strengthens our tenured partnership and creates a strong alignment among all stakeholders.”

Equity capital for the investment will come from funds managed by Harvest Partners, L.P., Oak Hill Partners Fund V, and Carlyle Global Financial Services Partners II and III.

The transaction is expected to be completed by the end of 2020, subject to customary closing conditions, including regulatory approvals.

Evercore Group LLC, Goldman Sachs & Co LLC and Morgan Stanley & Co LLC served as financial advisors to Galway, Weil, Gotshal & Manges LLP served as legal counsel to Oak Hill and Galway. Wachtell, Lipton, Rosen & Katz served as legal counsel to Carlyle. Ropes and Gray LLP served as legal counsel to Harvest.

About EPIC Brokers & Consultants


EPIC Insurance Brokers & Consultants, now has more than 2,600 team members operating from more than 80 offices across the U.S., providing Property and Casualty, Employee Benefits, Specialty Programs, and Private Client solutions to EPIC clients. For more information on EPIC, visit: www.epicbrokers.com.

Epiq Expands its Legal Transformation Services Offerings with Acquisition of Hyperion Global Partners

NEW YORK, NY

Epiq, a global leader in the legal services industry, announced today that it is has acquired Hyperion Global Partners (Hyperion), the premier global business and technology advisory practice for legal operations and transformation.

The acquisition expands Epiq’s strategy to deliver a suite of legal business management services and solutions to corporate in-house law departments, law firms and other clients. Hyperion’s Founder and CEO, Eyal Iffergan, will join Epiq as Managing Director of its of new legal operations advisory business.

The Hyperion acquisition includes its legal operations advisory practice as well as Hyperion Research, the analyst-driven unit of Hyperion Global Partners focused on legal solutions market intelligence. Hyperion Research is the premier provider of independent market research and analysis, delivering unparalleled insights on leading trends in legal strategy, operations, and technology.

“The recent pace of legal industry change has acutely accelerated the need for law departments and firms to be run like a business, including the need to embrace digital transformation,” said Ziad Mantoura, SVP and General Manager for Epiq’s legal transformation services business. “Hyperion has a team of expert consultants and a heritage of guiding clients to make intelligent, fact-based decisions to transform their businesses. Joining forces with this team and its impressive market intelligence capabilities adds considerable depth to the solutions we offer our clients as we help guide their digital transformation.”

Hyperion’s Iffergan remarked, “Hyperion has long been recognized for our drive to deliver operational expertise and innovation, with a healthy dose of pragmatism, to help our clients execute legal operations transformation programs. Our integration with Epiq, the globally recognized leader in legal business operations and services, brings together a powerhouse of capabilities and scale – a dynamic professional toolkit to galvanize our clients’ keystone initiatives and empower legal teams everywhere to achieve operational performance excellence.”

The legal transformation services group at Epiq was launched earlier this year and is part of its Legal Solutions business, led by Roger Pilc, President and General Manager. Hyperion’s capabilities complement Epiq’s services, which include eDiscovery, law department consulting, legal spend analysis, flexible legal talent, and information governance.

Said Pilc, “We’re thrilled to have Hyperion as part of Epiq as we continue to build out our vision for helping our clients. “Together, we can scale and extend their transformative work with legal teams globally.”

About Hyperion Global Partners

Founded in 2009, Hyperion Global Partners is recognized as the premier global business and technology consulting practice for the legal profession. Hyperion Global Partners brings over twenty years of dedicated experience in legal business, operations, and technology solutions. We advise Am Law 200 law firms, Global 1000 corporations, and other legal service organizations to make intelligent, fact-based decisions about how to improve their operational performance. A consultancy of experts, we focus on helping our clients lead transformation programs with strategic value-based engagement models and legal business expertise in process, operations, organization, and technology. For more information, please visit www.hyperiongp.com

About Epiq

Epiq, a global leader in the legal services industry, takes on large-scale, increasingly complex tasks for corporate counsel, law firms, and business professionals with efficiency, clarity, and confidence. Clients rely on Epiq to streamline the administration of business operations, class action and mass tort, court reporting, eDiscovery, regulatory, compliance, restructuring, and bankruptcy matters. Epiq subject-matter experts and technologies create efficiency through expertise and deliver confidence to high-performing clients around the world. Learn more at www.epiqglobal.com

MRI Software Acquires CheckpointID, Adding ID Verification and Fraud Prevention to Multifamily Offering


Technology Enables Residential Property Managers to Perform Real-Time Digital ID Checks

SOLON, OH

MRI Software, a global leader in real estate software solutions, has acquired CheckpointID, LLC, a Carrolton, Texas-based provider of ID verification and fraud prevention technology solutions to the multifamily industry.

The CheckpointID™ solution validates government-issued domestic and international IDs in real time to protect against rental fraud and increase safety in both guided and self-guided apartment tours. The solution allows leasing agents to quickly perform checks in person or online and provides an efficient and secure alternative to the traditional paper-based process.

“CheckpointID is a perfect fit for our comprehensive MRI Living suite, which covers every component of the residential leasing cycle,” says Patrick Ghilani, Chief Executive Officer of MRI Software. “The impacts of COVID-19 have only accelerated the need for digitalization, and residential property managers are under increasing pressure to deliver a modern, online customer experience. Our strategic investment in CheckpointID broadens MRI’s digital-first offering and adds to a growing range of innovative applications that bring greater efficiencies to the day-to-day activities of our users.”

The CheckpointID solution extends MRI’s capabilities for the multifamily market, in particular adding deeper functionality to applications for lead management and resident screening. Driven by increased demand for online services and the shift towards smart and connected communities, the technology also has the potential to support the wider markets and geographies that MRI serves, including public and affordable housing, short-term rentals, and student accommodation.

“We’ve enjoyed significant growth since launching in 2017 and have become synonymous with ID verification in the industry,” says Terry Slattery, Chief Executive Officer of CheckpointID. “The investment, innovation and scale that MRI brings will only accelerate our development, and we’re looking forward to the next stages of our exciting journey as part of the MRI family.”

CheckpointID will continue to serve and support its clients without interruption and will continue to offer its ID verification and fraud prevention software solutions to users of all property management systems in the market.

Software Equity Group served as the exclusive financial advisor to CheckpointID.

About MRI Software

MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MRI Software Enters Into Definitive Agreement to Acquire RentPayment™ Business From Priority Technology Holdings, Inc.


Under agreement, Priority to continue providing payment infrastructure and processing

ALPHARETTA, GA; SOLON, OH

MRI Software (“MRI”), a global leader in real estate software solutions, and Priority Technology Holdings, Inc. (NASDAQ: PRTH) (“Priority”), a leading provider of merchant acquiring, integrated payment software and commercial payment solutions, have entered into a strategic agreement in real estate payments. Under the terms of the agreement, MRI will acquire Priority’s RentPayment business, which is comprised of the RentPayment.com™, StorageRentPayment.com™ and DuesPayment.com™ real estate payment brands. Going forward, Priority will provide ongoing payment infrastructure as a service and processing to the new platform at MRI.

“The convenience and continuity of accepting multiple payment options has never been more essential to the residential real estate sector than in the current global health environment”

“The convenience and continuity of accepting multiple payment options has never been more essential to the residential real estate sector than in the current global health environment,” said Patrick Ghilani, Chief Executive Officer of MRI Software. “With this acquisition and partnership with Priority, MRI significantly expands our existing payments solution and scale and further improves both the resident and property manager experience provided by our platform. Additionally, we will now expedite the availability of our online payments solution to include both residential and commercial client offerings in all regions we serve, including Europe, Africa and Asia Pacific.”

Founded in 1999, the RentPayment business pioneered real estate payments with the industry’s first comprehensive payment platform for consumer rent. Today, the RentPayment platform serves some 2,900 clients across the U.S. multi-family, single-family, storage and HOA markets. The RentPayment, DuesPayment, and StorageRentPayment brands provide a feature rich suite of payment solutions, including resident rent payments and security deposits via web and mobile to landlords and property managers.

Existing clients of the RentPayment platform will continue to receive uninterrupted service led by Copley Broer and Jamey Rosamond, who helped build the platform within Priority. MRI remains committed to providing and supporting payments solutions for all organizations, regardless of their property management software. Similarly, MRI remains committed to providing choice and flexibility for its clients through an open and connected ecosystem that includes multiple payments partners. The transaction is expected to close in the third quarter of 2020 and is subject to customary regulatory approval.

“We’re extremely excited about entering into the transaction and burgeoning partnership with MRI,” said Tom Priore, Chairman and Chief Executive Officer of Priority. “This transaction will enable the RentPayment business to accelerate its investment in renter engagement at MRI and importantly maintain operational continuity with Priority as we continue to provide payment operations to the enterprise,” Priore added. “Notably, our relationship with MRI positions Priority to assist in the future growth of MRI’s payments platform. We’re thrilled to partner with an exceptional organization in MRI with its market leading technology platform and its key stakeholders.”

Software Equity Group was Priority’s exclusive advisor and Maynard Cooper & Gale served as Priority’s legal counsel on the transaction.

About MRI Software

MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work, and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

About Priority Technology Holdings, Inc.

Priority is a leading provider of merchant acquiring, integrated payment software and corporate payment solutions, offering unique product and service capabilities to its merchant network and distribution partners. Priority’s enterprise operates from a purpose-built payments infrastructure that includes tailored customer service offerings and bespoke technology development, allowing the Company to provide end-to-end solutions for payment and payment-adjacent software. Additional information can be found at www.PRTH.com.

Neighborly ® Acquires HouseMaster®


Home inspection franchise grows franchisor to 25 brands and more than 4,000 franchise owners under the parent company umbrella.

WACO, TX

Neighborly®, the world’s largest franchisor of home service brands, today announced the acquisition of HouseMaster, a professional home inspection franchise headquartered in Somerville, N.J. The addition becomes the 25 th brand under the Neighborly umbrella and officially expands the organization to more than 4,000 franchise owners around the world.

“Our vision is to ‘Own the Home’ and provide the very best services to homeowners, and this now includes HouseMaster’s premier home inspection network with a stellar reputation that more customers can call upon,” said Mike Bidwell, president and CEO of Neighborly. “HouseMaster is a perfect complement to our existing Neighborly brands and presents a tremendous opportunity to grow more franchise locations.”

Founded in 1979 by Ken Austin, HouseMaster became the first home inspection business to franchise and now includes more than 170 franchise owners serving more than 300 franchise territories across the U.S. and Canada. Since the brand’s founding, HouseMaster inspectors have performed more than 3.5 million home inspections.

Now as part of Neighborly, the brand that pioneered the home inspection business will operate alongside Neighborly’s many home service brands that repair, maintain and enhance the home. The combined reach that results from this acquisition will continue to help more than 10 million customers across the Neighborly organization find and utilize the best home service professionals in the world.

“Having grown up in this business, I recognize that joining the larger Neighborly organization marks a historic moment for HouseMaster as a launching point for growth like we’ve never seen before," said Kathleen Austin Kuhn, president of HouseMaster and a charter member of the American Home Inspection Association (AHIA). “We look forward to expanding our presence, serving more customers by being all things Neighborly to residential and commercial real estate buyers and sellers.”

For more information about Neighborly’s service brands visit www.neighborlybrands.com.

About Neighborly®

Neighborly® is the world’s largest home services franchisor of 25 brands (including Neighborly umbrella service brand) and more than 4,000 franchise owners serving 10 million customers in nine countries, focused on repairing, maintaining and enhancing homes and businesses. The company operates online platforms that connect consumers to service providers in their local communities that meet their rigorous standards as a franchisor across 15 service categories at www.neighborly.com in the United States and www.neighbourly.ca in Canada. More information about Neighborly / Neighbourly and its franchise concepts is available at www.NeighborlyBrands.com and www.nbly.co.uk.

Harvest Partners Hires Jamie Toothman as General Counsel and Chief Compliance Officer

NEW YORK, NY

Harvest Partners, LP (“Harvest” or the “Firm”) announced today that Jamie Toothman has joined Harvest as General Counsel and Chief Compliance Officer. In this role, Ms. Toothman will oversee the Firm’s legal and compliance matters and provide legal support for funds managed by Harvest.

Prior to joining Harvest, Ms. Toothman was a Senior Vice President at Oaktree Capital Management, L.P., where she managed fund formation and operations, regulatory compliance and other legal matters across a variety of strategies, including private equity and credit opportunities. Ms. Toothman began her legal career at Gibson, Dunn & Crutcher LLP, focusing on private and public acquisitions, capital markets and other corporate transactions.

Michael DeFlorio, President of Harvest, said, “Having a seasoned professional with experience managing legal and compliance matters, across multiple investment strategies within private equity, makes Jamie a valuable addition to our leadership team. Her expertise will add to the Firm’s continued growth, while also helping us navigate an ever-changing global regulatory environment.”

Ms. Toothman commented, “I am excited to join the Harvest team and look forward to working with the firm in supporting its continued success and commitment to excellence and integrity.”

Ms. Toothman holds a J.D. from the University of Michigan Law School and a B.A. from the University of Michigan.

About Harvest Partners, LP

Founded in 1981, Harvest Partners is a leading New York-based private equity investment firm that focuses on investments in middle-market companies in the business services & consumer, healthcare, industrial services and manufacturing & distribution sectors. Its control and non-control strategies leverage Harvest Partners’ 35+ years of experience in financing organic and acquisition-oriented growth companies. For more information, please visit www.harvestpartners.com.

MRI Software Enters Agreement to Acquire Castleton Technology PLC


Acquisition of social housing technology provider to extend MRI’s residential market capabilities

LONDON, UK

MRI Software, a global leader in real estate software solutions, announces that it has entered into an agreement to acquire Castleton Technology Plc, a leading provider of specialist software and services to the social housing sector. MRI expects that, upon close, the acquisition will extend its residential market offering and accelerate the development of Castleton’s cloud-based technologies to serve the needs of social housing providers.

“The acquisition of Castleton is a significant development for our business, delivering us scale in the UK real estate market and social housing sector in particular – providing a platform to further accelerate our growth globally,” said Patrick Ghilani, Chief Executive Officer of MRI Software. “A combined MRI and Castleton will be extremely well equipped to address the varying needs and evolving business models of the UK and Australian social housing sectors, with a comprehensive and flexible product portfolio. We are excited to work with the management team and employees of Castleton, to build upon their strong position in the social housing sector, utilising MRI’s complementary experience, capabilities, network and resources.”

Castleton’s cloud-based technology is used by social housing providers in the UK, Republic of Ireland and Australia to enhance every aspect of customer service and business management, from building repairs to document management and payment collection. MRI plans to build on Castleton’s capabilities, providing investment and access to global expertise that will accelerate growth.

“Castleton has performed well since embarking on the strategy in 2013 to build a public sector-focused software and managed service business, growing organically as well as through a series of acquisitions. The competitive landscape is changing and as such I welcome the opportunity for Castleton shareholders to realise their investment at a premium of 42.9% to yesterday’s Closing Price. I would also like to take this opportunity to thank all the employees of Castleton for all their hard work and support. The Castleton Directors believe that MRI Software will be an excellent partner to Castleton and its management and employees. We believe the acquisition is in the best interests of all our stakeholders and unanimously recommend that shareholders vote in favour of the resolutions relating to the acquisition,” said David Payne, Non-Executive Chairman of Castleton.

The acquisition has been unanimously approved by the boards of MRI and Castleton and is pending shareholder approval. Castleton will continue to serve its clients, as usual, without interruption.

About MRI Software

MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organisations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

Harvest Partners Announces Promotions

NEW YORK, NY

Harvest Partners, LP (“Harvest” or “the Firm”), a leading private equity firm, is pleased to announce the following promotions: Michael Greenman and James Mitchel have been promoted to Partner. Josh Carter, Chris Peyser and Chris Schaller have been promoted to Principal. Fabia DeCrescenzo has been promoted to Director of Finance. Lucas Rogers has been promoted to Vice President.

  • Mr. Greenman joined Harvest in 2012 and has focused on investments in the healthcare services, software and industrial services sectors.  He currently serves on the boards of Dental Care Alliance, Advanced Dermatology, and Eyecare Service Partners. In addition, Mike has been involved with several current and past Harvest portfolio companies including MRI Software, Valet Living, PSSI, Athletico, AxelaCare, and Green Bank. Mike has a B.A. and a B.S. from the University of Pennsylvania and an M.B.A. from The Wharton School.
  • Mr. Mitchel joined Harvest in 2009 and has focused on investments in the industrial services, distribution, and business services sectors.   James serves on the Boards of APC Automotive Technologies, Insight Global and Lazer Spot.  He previously served on the Boards of FCX Performance and TruckPro. He has also been involved with Harvest’s investments in Epiq, Regency Energy Partners and VetCor. James has a B.S. in Economics from The Wharton School of the University of Pennsylvania.

Thomas Arenz, Partner of Harvest, said, “Michael and Jim have both been active in many investments across a range of industries and are experienced middle market private investors. We have great confidence in them and are pleased to recognize their contributions by welcoming them as partners."

  • Josh Carter joined Harvest in 2015 and has been involved in investments in the healthcare services, distribution, business services, software and veterinary sectors. Josh has a B.S. in Business Administration from The Ohio State University and an M.B.A. from The Wharton School.
  • Fabia DeCrescenzo joined Harvest in 2004 as Assistant Controller. She is involved in all aspects of fund accounting, tax, treasury and reporting. She has a B.S. in Accounting and a Masters in Accounting from St. John’s University.
  • Lucas Rogers joined Harvest in 2018 as a Senior Associate and he has been involved in investments in the business services sector including Integrity Management Group and Yellowstone Landscaping. He has a B.S. in Economics from the University of North Carolina, an M.S. in Finance from George Washington University, and an M.B.A. from The Wharton School.

Chris Peyser and Chris Schaller are members of the Harvest Partners Structured Capital Fund team (“Harvest SCF”) – the non-control private equity strategy of Harvest.

  • Chris Peyser joined Harvest in 2017. Since joining the Firm, Chris has closed six Harvest SCF investments. Prior to joining Harvest SCF, Chris was a Senior Associate at Kelso & Company. He is a member of the Board of LAZ Holdings and is an observer to the Board of Advancing Eyecare. He is a graduate of Princeton University with an A.B. in Politics.
  • Chris Schaller also joined Harvest in 2017. Since joining the Firm, Chris has closed eight Harvest SCF investments. Before joining Harvest SCF, Chris was a Senior Associate in the Private Equity group of Ares Management, L.P. He is a graduate of Stanford University with a B.A. in Economics.

Steve Duke, Partner and Co-Head of Harvest SCF, said, “Chris Peyser and Chris Schaller have both played integral roles at Harvest SCF, helping support the continued growth of the strategy through deployment of capital, oversight of our portfolio companies, and expansion of the team. They are valued members of the Firm.”

MRI Software

  • Business

    MRI Software (“MRI”) is a leading provider of real estate management software solutions globally. MRI’s comprehensive product portfolio includes SaaS solutions for commercial and residential property management, leasing, accounting, investment management and modeling, facilities management, and other applications. MRI serves a diverse set of 15,000+ global enterprise customers and employs 2,000+ people across 25+ global offices.

  • Harvest Partners Investment

    In February 2020, Harvest recapitalized MRI in partnership with TA Associates, GI Partners and management. To fund the acquisition, Harvest provided equity capital and arranged debt financing. In addition, Harvest arranged equity co-investment capital.

  • Investment Thesis

    • Leading player in the large and growing real estate software market
    • Mission-critical solutions with clear and compelling value propositions
    • Attractive financial profile with significant recurring revenue, business diversification, high margins and strong free cash flow
    • Impressive track record of organic growth with numerous growth levers
    • Proven M&A platform with a deep pipeline of strategic acquisition candidates
    • Strong and committed management team with track record of success

MRI Software Welcomes Strategic Growth Investment


Harvest Partners Joins TA Associates, GI Partners and MRI Management to accelerate innovation and global growth

NEW YORK, NY

Harvest Partners, LP (“Harvest”) today announced that funds managed by Harvest completed a new strategic investment in MRI Software (“MRI” or “the Company”), in partnership with existing investors TA Associates, GI Partners and management. The Company’s management team, led by CEO Patrick Ghilani, will continue to lead MRI and remain significant owners of the business. Additional terms of the transaction were not disclosed.

MRI, headquartered in Solon, OH, is a leading provider of real estate management software solutions globally. MRI’s comprehensive product portfolio includes SaaS solutions for commercial and residential property management, leasing, accounting, investment management and modeling, facilities management, and other applications. MRI serves a diverse set of 8,500+ global enterprise customers and employs 1,400+ people across 21 global offices.

Of the transaction, Patrick Ghilani said, “Harvest is an experienced investor with a long-term perspective that will help MRI continue to meet the growing and evolving needs of our clients, innovate our software portfolio and provide world-class global service. We believe the added capital will further the development of our comprehensive software portfolio and allow for strategic add-on acquisitions to meet the needs of a rapidly changing market. Our management team is invigorated to continue our mission in this new decade with the support of these three experienced investors.”

“We could not be more excited to support MRI on the next phase of the company’s journey. We have watched MRI’s success over the years and are pleased to have the opportunity to be a part of it. We look forward to partnering with management, TA Associates and GI Partners to continue to build the leading provider of real estate software solutions globally,” said Andrew Schoenthal, Partner at Harvest.

Michael Greenman, Partner at Harvest added, “Patrick and the MRI team have built an incredible software business that has grown organically and inorganically over many years. We are thrilled to work alongside an exceptional team and provide additional financial and strategic resources to support the company’s next phase of growth.”

UBS acted as the exclusive financial advisor and Kirkland & Ellis and Goodwin served as legal counsel to MRI, TA Associates and GI Partners. William Blair & Company and Harris Williams acted as financial advisors, Alvarez & Marsal acted as transaction and tax advisor and White & Case acted as legal counsel to Harvest. Funds managed by Harvest Partners SCF, LP provided financing. As part of the transaction, Michael DeFlorio, Ira Kleinman and Andrew Schoenthal from Harvest will join TA Associates, GI Partners and Patrick Ghilani on the Board of Directors of MRI. Also leading the investment from Harvest were Michael Greenman, David Schwartz and Joshua Carter.

About MRI Software

MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MRI Software Receives Investment to Accelerate Innovation and Global Growth


Harvest Partners joins GI Partners and TA Associates in backing MRI’s mission to help real estate companies improve operations and maximize portfolio value through an open PropTech ecosystem

SOLON, OHIO

MRI Software, a global leader in real estate software solutions, announces that funds managed by Harvest Partners, LP, a leading private equity firm, are making a substantial strategic investment in the company. Harvest Partners joins existing investors TA Associates and GI Partners as institutional shareholders in MRI. At the same time, TA Associates is also making a significant new investment in the business. These investments will enable MRI to bolster innovation across its end-to-end offering, accelerate growth, extend its global footprint and deliver on its mission to create an open technology environment for the real estate industry.

Patrick Ghilani, MRI’s Chief Executive Officer, comments: “Harvest is an experienced investor with a long-term perspective that will help MRI continue to meet the growing and evolving needs of our clients, innovate our software portfolio and provide world-class global service. We believe the added capital will further the development of our comprehensive software portfolio and allow for strategic add-on acquisitions to meet the needs of a rapidly changing market. Our management team is invigorated to continue our mission in this new decade with the support of these three experienced investors.”

Today, MRI has more than 8,500 enterprise clients, representing over two million users, who rely on the company’s applications to run their daily real estate operations. MRI has experienced unprecedented growth over the last three years, both organically and through strategic acquisitions, resulting in a more than tripling of the size of the business. Over the same timeframe, the number of MRI employees has more than doubled to 1,450.

MRI has significantly expanded its global footprint with major strategic acquisitions in the United Kingdom, South Africa and Australia. The company has also made key acquisitions that strengthen its product offering and capacity for future innovation, including Leverton, a pioneer in artificial intelligence for the real estate sector, and ProLease, which enhanced capabilities aimed at helping corporate occupiers manage lease administration and analysis while meeting new global accounting standards. MRI now serves clients in more than 170 countries from 30 locations around the world, including Cleveland, Atlanta, Boston, Toronto, London, Cape Town, Singapore, and Sydney.

Hythem T. El-Nazer, Managing Director of TA Associates, says: “Since making our investment in MRI in June 2017, the business has accelerated its growth via continued innovation in new applications and through strategic acquisitions that have extended its global footprint. We are excited about making a further investment in MRI alongside Harvest and are thrilled to continue to back Patrick Ghilani and his leadership team.”

Travis Pearson, Managing Director of GI Partners, adds: “Since GI Partners first invested in MRI in June 2015, the company has demonstrated the ability to capitalize on new investment and deliver innovation, accelerated organic growth and a compelling global competitive position. We appreciate the outstanding leadership that Patrick and the rest of the MRI executive team have delivered and look forward to the company’s next stage of growth.”

Andrew Schoenthal, Partner at Harvest Partners, notes: “We could not be more excited to support MRI on the next phase of their journey. We have watched MRI’s success over the years and are pleased to have the opportunity to be a part of it. We look forward to partnering with management, TA Associates and GI Partners to continue to build the leading provider of real estate software solutions globally.”

TA Associates, GI Partners and Harvest Partners will have equal representation on the MRI Board of Directors. UBS is acting as the exclusive financial advisor and Kirkland & Ellis and Goodwin Procter are acting as legal advisors to MRI Software, GI Partners and TA Associates during the transaction. White & Case is acting as legal advisor to Harvest Partners.

About MRI Software

MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

Integrity Announces Employee Ownership Plan; Nearly $50 Million Paid Out to Employees

DALLAS, TX

Integrity Marketing Group, LLC (“Integrity”), Integrity Marketing Group, LLC (“Integrity”), the nation’s largest independent distributor of life and health insurance products, today announced the completion of a new Employee Ownership Plan. The plan provides meaningful ownership to all of Integrity’s eligible employees who have at least one year of tenure, at no cost to them.

This represents a plan for all of Integrity’s 750 employees from every level at more than 30 brands around the country. In addition, employees of newly-acquired businesses will also join the ownership program, giving everyone the opportunity to share in the combined success of the overall Integrity platform.

To celebrate the launch of this remarkable Employee Ownership Plan, the company has retroactively paid out almost $50 million to all employees in recognition of their contributions to Integrity’s success and to demonstrate the commitment to employee ownership at Integrity.

“Partnership is core to everything we do at Integrity. This is the most rewarding day of my career to now include all of our employees in the ownership of this amazing business we are building together every day,” said Bryan W. Adams, Co-Founder & CEO of Integrity. “With this groundbreaking plan, our most valued stakeholders–our employees–can now become partners in our tremendous success with this great company. I’m proud to welcome all of our employees as partners at Integrity.”

Integrity Marketing Group has experienced significant growth the past three years, increasing earnings more than 800 percent to extend its leadership position in the insurance industry.

“I am so excited to work for a company that not only tells you they care, but demonstrates that care in their actions by committing to our success,” said Kendall Spence, Executive Assistant at Integrity. “It’s a huge honor to be a part of the ownership plan and I know I am in the right place with the right team at Integrity Marketing Group.”

“This Employee Ownership Plan is a game-changer for Integrity Marketing Group and the absolute best investment the Company can make to drive future success,” said Tom Schueth and Mike Wingate, Co-Founders and Managing Partners of Integrity. “We are taking an already engaged and motivated group of employees and supercharging their performance with the pride that comes from ownership.”

“The spirit of abundance at every level of Integrity is incredibly unique and inspiring, and that’s further proven by the commitment the Partners have shown to include everyone in the ownership of the company,” said Steve Young, Chairman of Integrity. “Integrity is the fastest growing business I’ve been associated with and we are happy to reward Integrity’s employees—the people who build this business every day—by enabling them to share in our growth potential just like Integrity Partners. It’s the right thing to do and a transformative experience for the entire company.”

“I would like to thank our investors, Harvest Partners and HGGC, for their continued partnership and support in making this dream a reality for our entire Integrity family,” added Adams. Read More

Harvest Partners Completes Acquisition of Lazer Spot

NEW YORK, NY

Harvest Partners, LP (“Harvest”), announced today that funds managed by Harvest have completed the acquisition of Lazer Spot, Inc. (“Lazer Spot” or “the Company”) from Greenbriar Equity Group, LP (“Greenbriar”). Lazer Spot, headquartered in Alpharetta, Georgia, is the market leader in mission critical, outsourced yard management services in the United States and Canada. The Company’s management team, led by CEO Adam Newsome, will continue to lead Lazer Spot and remain significant owners of the business. Additional terms of the transaction were not disclosed.

Lazer Spot is the only national provider of spotting services (rapid and precise movement of empty and full trailers at its customers' distribution centers and manufacturing facilities) and shuttling (on-demand movement of empty or full trailers between customers' sites, distribution facilities, third party rail yards and shipping ports), offering a compelling value proposition at 400+ sites for more than 100 blue chip customers across the consumer packaged goods, food & beverage, pulp & paper, retail and other industrial sectors.

Adam Newsome said, “On behalf of the Lazer Spot management team, we are excited to partner with Harvest for the next chapter of our Company’s growth. Their focus and enthusiasm for building upon our position as the market leader are great fits for the management team’s vision for Lazer Spot.”

Michael DeFlorio, President of Harvest, said, “We are excited to partner with Adam and the entire Lazer Spot team. They have built a unique business with a clear path for long-term growth. We are looking forward to helping the team achieve their goal of continued organic growth while accelerating their acquisition strategy.”

James Mitchel, Principal at Harvest, added, “We are thrilled to invest alongside the Lazer Spot management team and support the next phase of growth with the Company’s blue chip customer base. Customers value Lazer Spot’s commitment to safety and reliability, and management has built a best-in-class service delivery model to achieve that.”

Lazer Spot is actively pursuing both tuck-in and transformative acquisitions of other spotting and shuttling businesses.

Harris Williams served as financial advisor and Kirkland & Ellis LLP served as legal advisor to Greenbriar and Lazer Spot. Ropes & Gray LLP served as legal advisor to Harvest Partners. As part of the transaction, Michael DeFlorio, Stephen Carlson and James Mitchel from Harvest Partners will join Adam Newsome on the Board of Directors of Lazer Spot.

About Lazer Spot

Lazer Spot is the market leader in critical outsourced yard management services including trailer spotting and shuttling. Founded in 1996 and headquartered in Alpharetta, GA, Lazer Spot is the only national provider of spotting services across the consumer packaged goods, food & beverage, pulp & paper, retail and other industrial sectors. More information about Lazer Spot is available at www.lazerspot.com.

Lazer Spot Holdings, Inc.

  • Business

    Lazer Spot is the largest independent operator of outsourced yard management services in the U.S. Its services include trailer spotting (rapid and precise movement of empty and full trailers at its customers' distribution centers and manufacturing facilities) and shuttling (on-demand movement of empty or full trailers between customers' sites, distribution facilities, third party rail yards and shipping ports). The company services over 100 customers across multiple end markets, including food & beverage, consumer packaged goods, eCommerce / retail and pulp & paper. Lazer Spot operates at 400+ sites across 35+ states, primarily consisting of distribution centers and manufacturing facilities. The company employs over 3,000 employees and operates a fleet of more than 1,000 spotters and trailers.

  • Harvest Partners Investment

    In December 2019, Harvest acquired Lazer Spot in partnership with the existing management team. To fund the acquisition Harvest provided equity capital and arranged debt financing.

  • Investment Thesis

    • Market leader in a large, fragmented and growing outsourced trailer spotting market
    • Compelling customer value proposition
    • Highly recurring revenue base with attractive unit economics
    • Impressive track record of organic growth serving recession-resistant end markets
    • Untapped M&A opportunity
    • Experienced management team

Service Express

  • Business

    Service Express is a leading third-party maintenance provider of hardware support for data center infrastructure focused on mission-critical server, storage, and network equipment. Service Express has a strong value proposition as it provides services that maintain and extend the life of mission-critical data center equipment at quicker response times and a lower cost versus post-warranty support offered by OEMs.

  • Harvest Partners Investment

    In November 2019, Harvest acquired Service Express in partnership with management. To fund the acquisition, Harvest provided equity capital and arranged the debt financing. In addition, Harvest arranged equity co-investment capital.

  • Investment Thesis

    • Leading player in a large, growing and fragmented end-market
    • Mission-critical service with a clear and compelling value proposition
    • Strong track record of organic growth and accretive tuck-in acquisitions
    • Attractive financial profile with recurring revenue, industry and geographic diversification and strong free cash flow generation
    • Downside protection and recession resiliency
    • Strong management team with track record of execution

Harvest Partners Announces Acquisition of Service Express

NEW YORK, NY

Harvest Partners, LP (“Harvest”), announced today that funds managed by Harvest have completed the acquisition of Service Express (the “Company”) from Pamlico Capital (“Pamlico”). Service Express, headquartered in Grand Rapids, Michigan, is a leading provider of post-warranty data center equipment maintenance services. The Company’s management team, led by CEO Ron Alvesteffer, will continue to lead Service Express, and remain significant owners of the business. Additional terms of the transaction were not disclosed.

Service Express provides third party, post-warranty data center maintenance services to more than 4,000 customers. Service Express has a strong value proposition as it provides services that maintain and extend the life of mission-critical data center equipment at quicker response times and a lower cost vs. post-warranty support offered by OEMs.

Of the transaction, Ron Alvesteffer said, “After a great partnership and successful run with Pamlico, we are excited to partner with Harvest as we move towards our next phase of growth and expansion. Harvest’s track record of aligning with the strategic growth plans of their management teams and the emphasis they put on people, culture and systems to support that growth really stood out to us. Service Express is poised to build on the momentum created with Pamlico and accelerate that into expanding our office footprint and market penetration as together we create more jobs and opportunities while continuing to provide best in class customer service to our valued customers. The resources and expertise that Harvest brings to our team will be key as we execute on our plan moving forward.”

“Ron and his team have done an incredible job creating a market leader in the data center TPM industry,” said Jay Wilkins, Chief Operating Officer of Harvest. “We look forward to providing additional financial and strategic resources to help them further build their market leadership.”

Stephen Carlson, Partner at Harvest, added, “We have evaluated every scale asset in the TPM space and Service Express is the fastest growing player in the industry.”

Stephen Fessler, Principal at Harvest, added, “Customers value Service Express’ customer-centric philosophy and commitment to service excellence, and we are thrilled to be partners with the Company through its next chapter of growth.”

Rothschild & Co and William Blair served as financial advisors and Alston & Bird LLP served as legal advisor to Pamlico and Service Express. Moelis & Company and Harris Williams acted as financial advisors to Harvest Partners. Harvest Partners’ legal advisor was Kirkland & Ellis LLP. Jay Wilkins, Stephen Carlson, and Stephen Fessler will join Ron Alvesteffer on the Board of Directors of Service Express.

About Service Express

Service Express is a leading third-party maintenance (TPM) provider of hardware support for data center infrastructure focused on mission-critical server, storage, and network equipment. In addition to post-warranty maintenance, Service Express offers hardware system solutions, sales and upgrades, OS support, IT asset recovery and data center relocation services. Founded in 1993, Service Express maintains multivendor data center equipment for mid-to-large organizations worldwide, including hospitals, universities, manufacturing facilities, financial institutions, government agencies and Fortune 500 companies. For more information about Service Express, visit www.serviceexpress.com.

About Harvest Partners

Founded in 1981, Harvest Partners is a leading New York-based private equity investment firm that focuses on investments in middle-market companies in the business services & consumer, healthcare, industrial services and manufacturing & distribution sectors. This strategy leverages Harvest Partners’ 35+ years of experience in financing organic and acquisition-oriented growth companies. For more information, please visit www.harvestpartners.com.

Yellowstone Landscape

  • Business

    Yellowstone is the second largest provider of commercial landscape services to over 5,000 customers throughout the Southern and Southwestern United States, including corporate campuses, resorts and hotels, homeowners’ associations, multi-family communities, schools, hospitals, and municipalities.

  • Harvest Partners Investment

    In November 2019, Harvest Partners (“Harvest”) acquired Yellowstone in partnership with the existing management team. To fund the acquisition Harvest provided equity capital and arranged debt financing.

  • Investment Thesis

    • Leading position in the large, fragmented and growing commercial landscaping market
    • Stable, recurring revenue from maintenance contracts
    • Organic growth in excess of market driven by repeatable go-to-market strategy
    • Consolidation platform with a strong M&A track record
    • Strong management team with a successful track record

Harvest Partners Announces Acquisition of Yellowstone Landscape

NEW YORK, NY

Harvest Partners, LP (“Harvest”), announced today that funds managed by Harvest have completed the acquisition of Yellowstone Landscape (“Yellowstone”) from CIVC Partners, LP (“CIVC”). Yellowstone, headquartered in Palm Coast, Florida, is the second largest commercial landscaping company in the United States. The Company’s management team, led by CEO Tim Portland, will continue to lead Yellowstone, and remain significant owners of the business. Additional terms of the transaction were not disclosed.

Yellowstone is a leading provider of commercial landscape services to over 5,000 customers throughout the Southern and Southwestern United States, including corporate campuses, resorts and hotels, homeowners’ associations, multi-family communities, schools, hospitals, and municipalities.

Of the transaction Tim Portland said, “On behalf of Yellowstone’s leadership team, we are excited to partner with Harvest and accelerate our growth. Their capital, experience and enthusiasm will help us continue our pursuit of excellence in commercial landscaping for our current and new customers across the country, deliver continued growth and success across each of our key priorities, and create ever increasing development opportunities for our outstanding team of landscape professionals.”

Michael DeFlorio, President of Harvest, said, “We are thrilled to partner with Tim and the entire Yellowstone team. They have built an excellent company and we look forward to providing additional financial and strategic resources to help them further build their market leadership.”

Stephen Carlson, Partner at Harvest, added, “We have been pursuing commercial landscaping services as a priority sector for several years and believe Yellowstone is a premier competitor in the industry. Customers value Yellowstone’s professionalism, commitment to service excellence, and scale, and we are excited to be partners with the Company through its next phase of growth.”

Harris Williams served as financial advisor and Kirkland & Ellis LLP served as legal advisor to CIVC and Yellowstone. Piper Jaffray and William Blair acted as financial advisors to Harvest Partners. Harvest Partners’ legal advisor was Ropes & Gray LLP. Moore & Van Allen PLLC advised Yellowstone management. Stephen Fessler from Harvest Partners will also join Tim Portland, Michael DeFlorio and Stephen Carlson on the Board of Directors of Yellowstone.

About Yellowstone Landscape

Yellowstone Landscape is a full service commercial landscaping company, delivering professional landscape services including Landscape Design, Landscape Installation, Landscape Maintenance, Irrigation Installation and Repair, and Tree Care Services. Headquartered in Palm Coast, Florida, Yellowstone Landscape currently serves more than 5,000 customers from its 40 branch facilities across the South and Southwest. More information about Yellowstone Landscape is available at www.yellowstonelandscape.com.

Harvest Partners Hires Dan Glickman as Partner

NEW YORK, NY

Harvest Partners, LP (“Harvest” or “the Firm”) announced today that Dan Glickman has joined the Firm as a Partner. Dan will lead Harvest’s capital markets effort, including supporting its portfolio companies, and he will work closely with Harvest’s investment teams on a range of future equity and debt investment opportunities.

Mr. Glickman joins Harvest from Antares Capital where he was a Founding Partner and Senior Managing Director. He served in various management and leadership roles across the organization including originations, investment screening, portfolio management and asset management. Earlier in his career, he worked in the leveraged lending group at Heller Financial and held accounting, audit and advisory roles with Peat Marwick. Mr. Glickman holds a B.S. in Accounting from DePaul University and is a registered CPA.

Thomas Arenz, Partner at Harvest, said, “We are very pleased to welcome Dan to Harvest. He brings nearly three decades of experience in the private equity leveraged lending market and has been well-known to many of us at the Firm for years. We are confident that Dan’s experience and leadership capabilities align well with our vision for the new capital markets role, and we look forward to the contributions Dan will make as member of our firm.”

Mr. Glickman commented, “Having been a part of building Antares Capital since its inception, I am excited to take on this new challenge. I have worked with the Harvest team for almost two decades and I am delighted to have joined the Firm.”

About Harvest Partners

Founded in 1981, Harvest Partners is a leading New York-based private equity investment firm that focuses on investments in middle-market companies in the business services & consumer, healthcare, industrial services and manufacturing & distribution sectors. This strategy leverages Harvest Partners’ 35+ years of experience in financing organic and acquisition-oriented growth companies. For more information, please visit www.harvestpartners.com.

Integrity Marketing Group Welcomes Strategic Growth Investment

Harvest Partners Joins HGGC and Integrity Management to Accelerate Growth of Senior Market Leader

NEW YORK

Harvest Partners, LP (“Harvest Partners” “Harvest”), announced today that funds managed by Harvest Partners have completed a new investment in Integrity Marketing Group (“Integrity”), in partnership with existing investors, HGGC and management. Integrity, headquartered in Dallas, TX, is the nation's leading independent distributor of life and health insurance products focused on serving the Senior Market.

“We are very excited for Harvest Partners to join the Integrity family as we look to continue our pace of growth after three-straight years of organic and acquisitive expansion,” said Bryan W. Adams, Co-Founder and CEO of Integrity. “We believe Integrity has just begun to tap into its potential and adding an outstanding investor like Harvest Partners alongside HGGC will ensure we have the resources to help as many American seniors as possible through execution of our national partnership-based distribution strategy.”

“Bryan and Integrity’s management team have done an incredible job growing the business into the undisputed leader in the senior market,” said Jay Wilkins, Partner at Harvest. “We look forward to a strong partnership with management and HGGC as we collectively drive Integrity’s next phase of growth.”

More on Harvest Partners’ growth investment in Integrity can be viewed in the following video: www.integritymarketing.com/partnership

“The winning culture at Integrity is based on a partnership-first mentality that ensures all stakeholders are aligned,” added Steve Carlson, Partner at Harvest. “We’re proud to be part of their team and believe further investment in technology and talent will position the business to continue its impressive trajectory.”

“Over the past three years we have enjoyed a highly successful and collaborative partnership with Bryan and his team of partners, who have surpassed our expectations and show no signs of slowing down,” said Steve Young, President and Co-Founder of HGGC, who will continue to serve as Co-Chairman of the Board of Integrity.

“With Harvest Partners joining the existing group of management, Integrity partners and HGGC, we are confident that Integrity can replicate its success over the next three years and truly transform the industry,” added John Block, Partner at HGGC.

Goldman Sachs and Morgan Stanley served as financial advisors to Integrity and HGGC, while Evercore acted as financial advisor to Harvest Partners. Owl Rock Capital is acting as Administrative Agent and, together with Crescent Capital Group and Antares Capital, serve as Joint Lead Arrangers and Joint Bookrunners. Funds managed by Harvest Partners SCF provided additional financing.

About Integrity Marketing Group

Integrity Marketing Group (“Integrity”), headquartered in Dallas, TX, is the nation’s leading independent distributor of life and health insurance products focused on serving the Senior Market. Integrity develops and distributes life and health insurance products with insurance carrier partners and markets these products through its distribution network, which includes other large insurance agencies throughout the country and over 215,000 independent agents. Integrity’s 500 employees serve almost 4 million clients. In 2019, Integrity will help insurance carriers place over $2 billion in new premiums. For more information, visit www.integritymarketing.com.

Integrity Marketing Group

  • Business

    Integrity Marketing Group (“Integrity”), is the nation’s leading independent distributor of life and health insurance products focused on serving the senior market. Integrity develops and distributes life and health insurance products with insurance carrier partners and markets these products through its distribution network, which includes retail insurance brokerages and agents.

  • Harvest Partners Investment

    In August 2019, Harvest Partners (“Harvest”) recapitalized Integrity in partnership with HGGC and management. To fund the acquisition, Harvest provided equity capital and arranged the debt financing. In addition, Harvest arranged equity co-investment capital.

  • Investment Thesis

    • #1 provider in the large, fragmented and growing senior life and health markets, including Medicare Advantage and Medicare Supplement
    • Attractive business model with strong, stable cash flows
    • Strong history of organic growth with multiple organic growth levers
    • Leading national consolidator with a proven M&A strategy and deep pipeline of acquisition candidates
    • Strong and committed management team with track record of success

In its Quest to Disrupt the Multifamily Industry, Valet Living Adds an Additional 30,000 Apartment Homes to its Quickly Growing Portfolio

TAMPA, FL

Valet Living, the only nationally recognized full-service amenities provider to the multifamily housing industry, acquires doorstep trash and recycling collection company, WasteRetriever.

Valet Living’s interest in WasteRetriever stems from many parallels between the two companies, including alignment on core values. Valet Living’s leadership standards include: being better tomorrow, developing its talent, driving growth and scalability and embracing servant leadership, the leadership philosophy in which the leader’s main goal is to serve. WasteRetriever also exemplifies these standards in the way it runs its company.

“When we are searching for strategic acquisitions, we greatly weigh how a company fits within Valet Living’s beliefs and values, because our people are most important to us,” said Shawn Handrahan, President and Chief Executive Officer of Valet Living. “We’ve looked at a lot of companies, and WasteRetriever stood out to us because of its commitment to quality, servant leadership and its dedication to sustainability.”

WasteRetriever currently services approximately 30,000 apartment homes in 9 states, all of which will move to the Valet Living portfolio. WasteRetriever has approximately 150 associates including its founder, John Lis, will transition to become Valet Living associates.

“We are proud that Valet Living chose to acquire WasteRetriever out of the many doorstep collection providers to the multifamily industry,” said WasteRetriever founder, John Lis. “Our goal has always been to provide quality service to our clients and residents, maintained by the highest level of client and resident support. We feel confident we will transition seamlessly into Valet Living.”

Valet Living believes that this acquisition will further enhance its national presence and increase strong synergies in its primary markets, given WasteRetriever’s presence in Arizona, Colorado, Florida, Georgia, Kentucky, Maryland, North Carolina, South Carolina and Texas.

In addition to doorstep trash and recycling amenity services, Valet Living residents can also request fitness classes, home cleans, pet visits, package deliveries and more through a single app, Valet Living Home. Valet Living recently announced the acquisition of Torch Fitness, bringing fitness classes to multifamily communities nationwide. Valet Living recently debuted the launch of Quick Turns: Make Ready & Porter Solutions by Valet Living, helping to further supplement on-site property management teams by streamlining the turnover process and maintenance of residential apartments in just five days.

To learn more about Valet Living, please visit www.ValetLiving.com

About Valet Living

Valet Living is the only nationally-recognized full-service amenities provider to the multifamily housing industry, performing more than 340 million events annually across 1.3 million apartment homes and 40 states. Through its Valet Living Home app-enabled resident amenity service offering and its doorstep waste & recycling collection, turns, maintenance and pet solutions, Valet Living is also the only company in the multifamily industry to combine doorstep waste and recycling collection with both sustainability-related and premium home-related services. Valet Living has been setting the standard for residential living since 1995 and is a portfolio company of the Private Equity Group of Ares Management, L.P. (NYSE: ARES) and Harvest Partners, LP.

Valet Living Acquires Torch Fitness, Bringing Fitness Classes to Multifamily Communities Nationwide

TAMPA, FL

In a groundbreaking deal, Valet Living, the nation’s leading provider of premium home-related amenity services for residential living, further enhances its commitment to wellness amenities by acquiring Torch Fitness.

“We are thrilled to continue accelerating the expansion of our fitness offerings within Valet Living Home as we continue to enhance and redefine the residential living experience in multifamily communities,” said Shawn Handrahan, President and Chief Executive Officer of Valet Living. “Through Valet Living Home, we’re curating a comprehensive experience that meets the modern demands of multifamily residents and setting the standard for how amenity services are delivered.”

Atlanta based Torch Fitness currently provides fitness, wellness and nutritional programs to more than 200 multifamily communities in 12 states, with a heavy concentration in Georgia, Florida, the Carolinas and Texas. The combination of the two companies will give residents in these communities access to over 400 certified fitness trainers and dietitians. Torch Fitness’ mission is to promote health and wellness through effective exercise and proper nutrition. Its team of 5- star rated certified fitness trainers and registered dietitians helps multifamily residents achieve their goals by modifying current activities and lifestyle, leading to results with long-term success.

“Valet Living’s commitment to delivering unrivaled wellness amenities through its Valet Living Home resident amenity solution is what initially drew us to the brand,” said Torch Fitness founder Ty McMath. “I specialize in the physical training component of the Torch offering, and my wife and co-owner Nicole McMath, who holds a masters degree in nutritional biochemistry, is dedicated to bringing science-based nutrition recommendations, education and individualized support to the Torch community and personal wellness programs.”

Powered by technology but delivered by the best people in the multifamily business, Valet Living brings standard-setting resident amenity services to over 1.3 million apartment homes nationwide, performing more than 340 million events annually. Offering a multitude of amenity services including in-home package delivery, on-demand home cleans and pet visits, laundry pick-up and drop-off, fitness classes, doorstep waste & recycling collection and more, Valet Living makes residents’ and community managers’ lives easier.

Ty and Nicole McMath will be joining the Valet Living family to continue bringing exceptional fitness amenities to multifamily communities nationwide and help build the highest quality wellness offering available to the multifamily industry.

To further signify its commitment to wellness, on Thursday June 27 Valet Living will host “The Key to Staying Fit at Your Community” with celebrity fitness guru Jillian Michaels, moderated by Valet Living. Together in candid conversation, Valet Living and Jillian will share more about opportunities to incorporate fitness within apartment communities for residents, the benefit to community managers, tips for staying fit in any space and actionable takeaways.

To learn more about Valet Living, please visit www.ValetLiving.com

About Valet Living

Valet Living is the only nationally-recognized full-service amenities provider to the multifamily housing industry, performing more than 340 million events annually across 1.3 million apartment homes and 40 states. Through its Valet Living Home app-enabled resident amenity service offering and its doorstep waste & recycling collection, turns, maintenance and pet solutions, Valet Living is also the only company in the multifamily industry to combine doorstep waste and recycling collection with both sustainability-related and premium home-related services. Valet Living has been setting the standard for residential living since 1995 and is a portfolio company of the Private Equity Group of Ares Management, L.P. (NYSE: ARES) and Harvest Partners, LP.

About Valet Living Home

Valet Living Home is powered by technology but delivered by the best people in the business. Your Valet Living residents request fitness classes, home cleans, pet visits, package deliveries and more through a single app. Amenities are performed by W2, insured and background checked associates through an on-site full-service desk completely customized for your community. The result is a resident amenity experience like no other, delivering more time for yourresidents to spend with family and friends and unparalleled resident satisfaction at your community!

OnPoint Group Unveiled as the New Brand for Material Handling Services

PERRYSBURG, OH

Material Handling Services, LLC (“MHS”) announced today a significantly revamped brand, OnPoint Group (“OnPoint”). OnPoint better communicates the organization’s leading strategic position for national facility maintenance as well as full-asset life cycle management and maintenance of doors, docks, material handling and warehouse accessories. This bundled set of solutions gives facility managers unprecedented access to customized, cost-effective solutions for procurement, installation and maintenance of mission-critical material handling and facilities equipment.

The expanded focus has unquestionably strengthened OnPoint’s market presence in recent years, with annual revenue tripling through both acquisitions and organic growth. In addition to its growing employee base of almost 2,000 employees, of which 600 serve as service technicians across the country. OnPoint also partners with over 20,000 affiliated service technicians throughout North America.

“Our customers are responsible for maintaining facility uptime at locations nationwide and need access to a single source to optimize the productivity and total cost of ownership across all of their mission-critical assets,” said Tom Cox, OnPoint Group CEO. “OnPoint is the only North American provider that is uniquely equipped with data-driven solutions and a network of expert service technicians to provide exceptional customer service that is proficient, safe and cost- effective.”

MHS will begin operating as OnPoint this month. The OnPoint brand better reflects the broad scope of the product and service offering, with a focus on providing customers with an exceptional level of customer service. As part of the brand launch, a new website (onpointgroup.com) has been created to showcase the revised brand and comprehensive array of services.

OnPoint Group utilizes focused operating divisions to more efficiently and cost-effectively reach customers with these comprehensive and customizable solutions:

  • TFS: Forklift equipment, financing, power, maintenance and data management
  • Miner: Doors, docks and safety equipment, facility accessories and material handling equipment
  • TrueSource: Nationwide maintenance and repairs for critical facility operations, powered by an extensive affiliate network
  • Concentric (currently ABT and NMS): Onsite equipment maintenance programs integrated with motive and reserve power solutions for facilities and equipment

TrueSource was announced this week as an integration of leading national service providers. TFS (formerly Total Fleet Solutions) and Miner, both established brands in their respective markets, will continue to focus their messaging and value propositions to better communicate their uniqueness in the market. ABT and NMS will be integrated and rebranded together as Concentric later this year.

With leading, skilled technicians nationwide and the proprietary technology of OnPoint Group, customers are provided an unparalleled experience:

  • Exceptional customer service for enterprise accounts and local branches with more than 600 technicians in over 80 locations across North America;
  • A comprehensive affiliate network, partnering with over 20,000 vendors in various critical facility maintenance trades, in addition to employed technicians;
  • The most skilled workforce to get the job done right the first time;
  • The industry’s most robust data set used to create customized asset roadmaps that maximize total cost of ownership; and
  • The stability of half a million assets under management and growing, through continued investment in people and technology innovation.

“Having access to a comprehensive, one-stop shop for material handling and facility needs will have a significant, positive impact on the facility managers who struggle every day with maintaining facility uptime, worker safety and total cost of asset ownership,” said Cox. “OnPoint Group gives customers an unprecedented level of confidence that we’re going to deliver these services with consistency and excellence, so they can stay focused on growing their businesses.”

OnPoint Group is a platform company of Harvest Partners, a leading private equity firm with more than 30 years in investing in middle-market companies.

About OnPoint Group

OnPoint Group is the leading North American provider of management and maintenance services for doors, docks, material handling and warehouse accessories through its industry leading divisions: TFS, Miner, TrueSource, and Concentric. Based in Perrysburg, OH, OnPoint Group has more than 600 technicians in over 80 locations to consistently deliver efficiency, safety and productivity to customers responsible for maintaining multifacility operations. Through an ongoing commitment to technological innovation, OnPoint Group continues to revolutionize the way facility managers optimize the total cost of ownership of mission-critical material handling and facilities equipment. For more information, visit www.onpointgroup.com.

Neighborly® Acquires Dream Doors

Deal with U.K.-based brand grows the company to 22 service brands, $2 billion in annual system-wide sales and nearly 3,700 franchisees.

WACO, TX

Neighborly® , the world’s largest franchisor of home service brands, has announced the acquisition of Dream Doors, a premium kitchen makeover and bedroom wardrobe franchisor based in the United Kingdom. The addition marks the first acquisition of 2019 and brings Neighborly to a total of 22 service brands, nearly 3,700 franchise owners and more than 850 associates across nine countries.

The deal includes 91 locally-owned and operated franchise showrooms of Dream Doors across the United Kingdom specializing in fully-fitted kitchen makeovers, replacement doors and countertops and the installation of new appliances. As a result, Neighborly now reaches a total of eight brands and four campuses based in Europe.

“Dream Doors has delivered on its promise of ‘new life for old kitchens and bedrooms’ for the past 20 years, making the brand a perfect complement to Neighborly Brands’ community of premium home services,” said Mike Bidwell, President and CEO of Neighborly. “This brand furthers our expertise for Neighborly in today’s home improvement industry and accelerates the franchise’s growth of in-demand home services throughout the UK.”

Based in Portsmouth in the south of England, Dream Doors was founded on providing kitchen makeovers and recently expanded to offer custom wardrobes in bedrooms. As a result of its proven business model and innovations, Dream Doors has received numerous franchise accolades and awards for excellent service and satisfaction over the years.

Founder and Chairman Troy Tappenden will be stepping down and departing from the company. The Dream Doors network will continue to be overseen by Managing Director Philip Carr who has been instrumental in implementing the brand’s long-term expansion strategy since 2017.

“By joining the world’s largest franchisor of home services, Dream Doors will gain new vendor relationships, a powerful peer group of other Neighborly service brands and more,” said Carr. “Supported by Neighborly’s expertise moving forward, I look forward to this new phase of growth for our brand.” For more information about Neighborly’s service brands visit www.neighborlybrands.com.

About Neighborly

Neighborly is a holding company of 22 service brands, focused on repairing, maintaining and enhancing consumers’ homes and businesses. The company operates online platforms that connect consumers to service providers in their local communities that meet their rigorous standards as a franchisor across 15 service categories at www.getneighborly.com in the United States and www.getneighbourly.ca in Canada. The company was founded in 1981 as Dwyer Group and is based in Waco, Texas. More information about Neighborly/Neighbourly, and its franchise concepts, is available at https://www.neighborlybrands.com/.

Epiq Announces Executive Leadership Changes

ATLANTA and NEW YORK

Epiq, a global leader in the legal services industry, today announced David C. Dobson has joined the company as the new chief executive officer and John Davenport, Jr., current chief executive officer of Epiq, will move up to executive chairman of the board.

Davenport founded Epiq, then known as Document Technologies, in 1998 and grew the business from a handful of employees and clients to a billion dollar global organization.

“We have found a remarkable leader that embodies our core values and client-centric focus to assume leadership of Epiq,” said Davenport. “After a thorough search process, I’m looking forward to my new role as chairman and to working with David, who will continue to execute on our vision and strategy of being the premier global legal services partner to clients around the globe. I believe that he is the right person to lead Epiq into the future.”

“I am very excited and honored to be joining such an incredible team at this important time in our company’s history,” said Dobson. “I look forward to building on the momentum that John and this team have created. We have a tremendous opportunity to further extend our leadership position in delivering high value services to our clients around the world.”

Dobson previously served as the chief executive officer of Digital River, a global eCommerce platform and services company. Prior to Digital River, Dobson held senior leadership positions at IBM, Corel, Pitney Bowes and CA Technologies. Dobson has a degree in electrical engineering and management from McMaster University in Ontario, Canada.

About Epiq

Epiq, a global leader in the legal services industry, takes on large-scale, increasingly complex tasks for corporate counsel, law firms, and business professionals with efficiency, clarity, and confidence. Clients rely on Epiq to streamline the administration of business operations, class action and mass tort, court reporting, eDiscovery, regulatory, compliance, restructuring, and bankruptcy matters. Epiq subject-matter experts and technologies create efficiency through expertise and deliver confidence to high-performing clients around the world. Learn more at www.epiqglobal.com.

Epiq Acquires Garretson Resolution Group

Expanding Mass Tort Solutions and Expertise

ATLANTA, GA

Epiq, a global leader in the legal services industry, today announced that it has acquired Garretson Resolution Group (GRG), a tech-enabled, expert services provider of mass tort, class action and other high volume legal dispute resolutions services to law firms and other parties.

“GRG is a foundational brand in mass torts, with a long record of expertise and problem-solving,” said Bob Hopen, president Epiq class action and corporate restructuring. “The expertise and market leadership in mass tort that GRG brings to Epiq is unmatched and we’re thrilled to be able to expand this solution and the bench of expertise offered to our clients.”

“When we considered the next chapter for GRG, we wanted to find a company that would invest in our people and the mass tort industry, and we’re pleased to find that partner in Epiq,” said Matt Garretson, GRG founder. “Their commitment to our clients and our talented employees is incredible and we are excited to become part of Epiq.”

“The future of GRG and that of our clients and employees has never looked brighter,” said Jeff Elliott, GRG president and chief executive officer. “We look forward to fully leveraging the scale and capacity of Epiq to deliver great things.”

The companies will continue to operate with both the Epiq and GRG brands in place for a brief time while integrating operations in early 2019.

Advisors for the transaction for Epiq included Bryan Cave Leighton Paisner LLP and Alvarez & Marsal.

About Epiq

Epiq, a global leader in the legal services industry, takes on large-scale, increasingly complex tasks for corporate counsel, law firms, and business professionals with efficiency, clarity, and confidence. Clients rely on Epiq to streamline the administration of business operations, class action and mass tort, court reporting, eDiscovery, regulatory, compliance, restructuring, and bankruptcy matters. Epiq subject-matter experts and technologies create efficiency through expertise and deliver confidence to high-performing clients around the world. Learn more at www.epiqglobal.com.

About GRG

Garretson Resolution Group a tech-enabled, expert services provider of mass tort, class action and other high volume legal dispute resolutions services to law firms and other parties. Learn more at www.garretsongroup.com.

Veritex Bank Completes Acquisition of Green Bank and is Now One of the 10 Largest Banks Headquartered in Texas

Dallas, TX

DALLAS–(BUSINESS WIRE)–Veritex Holdings, Inc. (NASDAQ: VBTX), the holding company for Veritex Community Bank, completed its acquisition of Houston-based Green Bancorp, Inc., the holding company for Green Bank, on January 1st, 2019. This is Veritex’s seventh acquisition in its eight-year history, making it one of the ten largest banks headquartered in Texas. Veritex Bank now has 43 full-service branch locations in Texas, with a concentration in the DFW and Houston metroplexes.

Green Bancorp reported total assets of $4.4 billion, total deposits of $3.4 billion, and total equity capital of $490.2 million, as of the end of the third quarter of 2018. The combined company will have approximately $8 billion in assets.

“Our vision for Veritex Community Bank is to continue to build the highest quality community-focused business bank in Texas. The acquisition of Green aligns with our vision to acquire highly-profitable, quality Texas banks with talented management teams,” said Veritex Chairman and Chief Executive Officer C. Malcolm Holland. “This acquisition more than doubles our size in terms of employees, assets and branch locations, and enhances our value proposition to be the bank of choice for businesses in our markets.”

About Veritex Bank

Veritex Community Bank is a mid-sized community bank serving its customers with a full suite of banking products and services. Veritex bank has total assets of approximately $8 billion. Veritex bank specializes in providing depository and credit services to retail and small- to mid-size businesses. The name “Veritex” is derived from the Latin word “veritas,” meaning truth, and “Texas.” Veritex bank was founded in 2010 and now has 43 branches located in Dallas, Fort Worth, Austin, Honey Grove and Houston and one located in Louisville, KY.

Forward-Looking Statements

This press release includes “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on various facts and derived utilizing important assumptions, current expectations, estimates and projections and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements include, without limitation, statements relating to the impact Veritex expects its acquisition of Green Bancorp to have on Veritex’s operations, financial condition, and financial results, and Veritex’s expectations about its ability to successfully integrate the combined businesses and the amount of cost savings and overall operational efficiencies Veritex expects to realize as a result of the acquisition. Forward-looking statements may also include statements about Veritex’s future financial performance, business and growth strategy, projected plans and objectives, as well as other projections based on macroeconomic and industry trends, which are inherently unreliable due to the multiple factors that impact economic trends, and any such variations may be material. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. Further, certain factors that could affect future results and cause actual results to differ materially from those expressed in the forward-looking statements include, but are not limited to, the possibility that the businesses of Veritex and Green will not be integrated successfully, that the cost savings and any synergies from the acquisition may not be fully realized or may take longer to realize than expected, disruption from the acquisition making it more difficult to maintain relationships with employees, customers or other parties with whom Veritex has (or Green had) business relationships, diversion of management time on integration-related issues, the reaction to the transaction of the companies’ customers, employees and counterparties and other factors, many of which are beyond the control of Veritex. We refer you to the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Veritex’s Annual Report on Form 10-K for the year ended December 31, 2017 and any updates to those risk factors set forth in Veritex’s Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings, which have been filed with the SEC and are available on the SEC’s website at www.sec.gov. If one or more events related to these or other risks or uncertainties materialize, or if Veritex’s underlying assumptions prove to be incorrect, actual results may differ materially from what Veritex anticipates. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made. Veritex does not undertake any obligation, and specifically declines any obligation, to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. All forward-looking statements, expressed or implied, included in this press release are expressly qualified in their entirety by the cautionary statements

Harvest Partners Announces Strategic Minority Investment by Goldman Sachs Asset Management

New York, NY

Harvest Partners, a leading middle-market private investment firm, today announced that Goldman Sachs Asset Management’s Petershill program has made a strategic minority investment in Harvest Partners.

The passive investment, which represents 15 percent of the firm, will allow Harvest Partners to expand the ownership of the firm and further develop its platform, building on the firm’s long history of investing in the middle-market in North America. As part of the transaction, Harvest Partners’ senior leadership has made long-term commitments to the business. Terms of the transaction were not disclosed.

Thomas Arenz, a Partner of Harvest Partners, said, “We are very pleased to be partnering with Goldman Sachs, a respected global institution that brings a broad range of capabilities and experience in supporting investment management firms. The investment by Petershill enables us to build on our 37-year history and execute our long term strategy to broaden our middle market franchise.”

Christian von Schimmelmann, co-head of Goldman Sachs Asset Management’s Petershill program, said, “Harvest Partners has been able to build a world-class private equity business, delivering strong returns to investors for almost four decades. We are excited to expand our relationship with Harvest Partners through this investment and look forward to providing the firm with strategic capital and support.” Evercore served as financial advisor to Harvest Partners and Kirkland & Ellis served as legal counsel.

About Harvest Partners

Founded in 1981, Harvest Partners (www.harvestpartners.com) is a leading New York-based private equity investment firm pursuing management buyouts and recapitalizations of middle market companies in North America. Harvest focuses on acquiring profitable companies in the business services and consumer, healthcare services, industrial services, and manufacturing and distribution sectors. This strategy leverages Harvest Partners’ more than 37 years of experience in financing organic and acquisition-oriented growth companies.

About Goldman Sachs Asset Management

Goldman Sachs Asset Management (GSAM) is one of the world’s leading asset managers with over 2,000 professionals across 30 offices worldwide. Within GSAM, the Alternative Investments & Manager Selection (AIMS) Group, which manages over $200 billion in assets, provides investors with investment and advisory solutions across leading external private equity funds, hedge fund managers, real estate managers, public equity strategies and fixed income strategies. Institutional and individual investors access these opportunities in the form of new fund commitments, multi-manager programs, strategic partnerships, secondary-market investments, co-investments, and management company stakes through the Petershill program. With investments in over 20 asset management firms, the Petershill program provides strategic capital to mid- sized asset management firms and has raised over $5 billion of commitments since inception.

Dwyer Group Changes Corporate Name to Neighborly

The company’s rebranding will emphasize the Neighborly online platforms to help today’s consumers easily connect with service provider experts.
WACO, TX

Dwyer Franchising, LLC (“Dwyer Group”), one of the world’s largest parent companies of home service brands, has announced that it is changing its corporate name to Neighborly, effective immediately. The decision follows the rapid success of the consumer-facing Neighborly platform developed a little more than a year ago to unite all of its service franchise brands under one umbrella. The new trade name supports the community of home service experts’ approach for providing an easier way for people to connect with providers of all home service needs through one convenient outlet.

“Since launching Neighborly in 2017, our platform for home services has increased engagement with customers and made a powerful and positive impact across our service brands,” said Mike Bidwell, President and CEO of Neighborly.

Through one comprehensive consumer-facing website (getneighborly.com in the U.S. and getneighbourly.ca in Canada), Neighborly has simplified the process of connecting homeowners with service industry experts with incredible results. Within one year of launching Neighborly, multi-brand customer penetration has increased 39 percent and continues to rise.

“Now it’s time to bring that same Neighborly brand home to our corporate offices to amplify the collective synergies of our service brands internally as well,” Bidwell added. “Dwyer Group’s legacy includes the success of 21 service brands to-date, and this legacy shall now be showcased moving forward under the friendly consumer facing Neighborly name.”

The new trade name will be reflected at 10 corporate campuses across the U.S., U.K. and Germany, employing nearly 850 employees. With the transition, the corporate website at dwyergroup.com also has moved to NeighborlyBrands.com. Plans to implement the new name across the company’s service brand affiliates will continue throughout the remainder of the 2018.

About Neighborly

Neighborly is a holding company of 21 service brands, focused on repairing, maintaining and enhancing consumers’ homes and businesses. The company operates online platforms that connect consumers to service providers in their local communities that meet their rigorous standards as a franchisor across 14 service categories at getneighborly.com in the United States and getneighbourly.ca in Canada. The company was founded in 1981 as Dwyer Group and is based in Waco, Texas. More information about Neighborly/Neighbourly, and its franchise concepts, is available at www.neighborlybrands.com.

Epiq Makes Inc. 5000 Fastest-Growing Private Companies List

ATLANTA, GA

Epiq, a global leader in the legal services industry, today announced that Inc. Magazine listed Epiq as No. 1866 on its 37th annual Inc. 5000, the most prestigious ranking of the nation’s fastest-growing private companies. This marks the 11th time Epiq has been recognized by Inc. Magazine on the Inc. 5000 list.

“When you choose Epiq, you choose a strategic partner committed to easing the burden and risks associated with complex legal challenges,” said John Davenport. “We’re proud of our year-over-year growth, but more importantly, we’re committed to delivering world-class service to our clients and to making them raving fans.”

The Inc. 5000 list is an in-depth look at the performance of America’s top privately held companies. The companies listed on the 2018 list each year achieved growth of more than 50 percent in the last three years. Altogether, the companies that made this year’s list amassed $206.2 billion in revenue in 2017. With a growth of 240% and a revenue of $1.0 billion in 2017, Epiq is proud to be included in this year’s list.

To learn more about Inc. 5000 click here.

About Epiq

Epiq, a global leader in the legal services industry, takes on large-scale, increasingly complex tasks for corporate counsel, law firms, and business professionals with efficiency, clarity, and confidence. Clients rely on Epiq to streamline the administration of business operations, class action and mass tort, court reporting, eDiscovery, regulatory, compliance, restructuring, and bankruptcy matters. Epiq subject-matter experts and technologies create efficiency through expertise and deliver confidence to high-performing clients around the world. Learn more at www.epiqglobal.com.

VetCor

  • Business

    VetCor is one of the largest veterinary services platforms in the nation managing over 270 veterinary hospitals across 28 states. Its hospitals provide a full range of general medical and surgical services for pets, as well as pharmacy needs and ancillary services such as boarding, grooming, and pet products. VetCor has distinguished itself by promoting the local identity of each hospital, offering a family friendly work environment, providing management, training and administrative support to its hospitals, and relying on the veterinarians of each hospital to manage their medical direction.

  • Situation

    This investment opportunity was developed on a proprietary basis. Harvest had constructed an investment thesis around veterinary services over several years due to the sector’s large, stable, fragmented market with superior consolidation opportunities, lack of reimbursement risk and attractive cash flow profile. Given our familiarity with the sector and asset, Harvest was able to conduct due diligence and present a compelling offer on an accelerated timeframe.

  • Harvest Partners Investment

    In April 2015, Harvest recapitalized VetCor with existing sponsor Cressey & Company (“Cressey”) and management. To fund the acquisition Harvest and Cressey arranged debt financing, which consisted of a unitranche term loan.

    In July 2018, Harvest recapitalized VetCor. To fund the recapitalization, Oak Hill Capital Partners (“Oak Hill”), Harvest, Cressey and management provided equity capital and arranged the financing, which included a first and second lien credit facility and preferred equity.

  • Investment Thesis

    • Large, fragmented and growing veterinary services market
    • Attractive business model with strong, stable cash flows
    • Scarce, scale platform with a proven acquisition and integration strategy
    • Committed and talented management team with a track record of success
  • Value Creation

    • Accelerated same store sales growth
    • Doubled M&A velocity
    • Bolstered infrastructure and personnel
  • Outcome

    • Completed recapitalization with Oak Hill and Cressey in July 2018

FCX Performance, Inc.

  • Business

    FCX Performance (“FCX”) is a leading distributor of highly engineered valves, instrumentation & pumps and provider of related services in the U.S. FCX provides technical, mission-critical products and value-added services to more than 15,000 end users, original equipment manufacturers and engineering and construction firms across the industrial process, oil and gas, power, life sciences, municipal and commercial markets. The Company is known for its technical application expertise and offers customers a full range of valves and automation, pumps and seals, process instruments, steam and piping products, and related equipment, all backed by a full complement of life-cycle services.

  • Situation

    Harvest became aware of FCX in early 2012 through Harvest’s business development activities in the industrials and distribution sectors. Harvest had substantial knowledge of FCX’s core process and energy end markets through prior industrial services investments such as Aquilex and BHI, and developed expertise in industrial distribution through investments in TruckPro and CSC. Prior to the management meeting, Harvest hosted an in-person presentation by the banker on FCX at its offices and completed numerous calls with industry participants via its network. As a result of this prior work and experience, Harvest was well-prepared for the management meeting, developed a strong rapport with management and was able to complete thorough diligence ahead of other potential buyers. This strategy enabled Harvest to deliver a fully-financed final bid without syndication risk that positioned Harvest as the buyer of choice.

  • Harvest Partners Investment

    In October 2012, Harvest purchased FCX with the existing management team. To fund the acquisition Harvest arranged the debt financing, which included a senior credit facility and a mezzanine note. In addition, Harvest underwrote and syndicated equity co-investment capital.

  • Investment Thesis

    • Attractive, differentiated position in supply chain
    • Stable, recurring business model with solid cash flows
    • Diverse end markets and customers
    • Scalable platform with strong infrastructure
  • Value Creation

    • Successfully completed 13 add-on acquisitions
    • Improved organic growth by expanding salesforce and increasing productivity
    • Increased gross margins via pricing initiatives and aligning salesforce compensation plans
    • Incorporated additional value-added services such as integration and calibration
    • Improved operating leverage by consolidating facilities and managing indirect spending
    • Managed succession and expanded management team with several key senior executive hires
  • Outcome

    • Sold to Applied Industrial Technologies (NYSE: AIT) in January 2018

Dwyer Group® Acquires Mosquito Joe®

Deal marks first acquisition since Dwyer Group was purchased by Harvest Partners and adds 288 territories

WACO, TX

Dwyer Franchising, LLC (“Dwyer Group”), one of the world’s largest parent companies of home service brands, has announced the acquisition of Mosquito Joe, the leading franchisor in the mosquito control services industry based in Virginia Beach, Va. This event marks the first acquisition for Dwyer Group since announcing Harvest Partners as its new private equity partner and launches the beginning of a new era of growth for Dwyer Group, now with nearly 3,300 franchisees and 825 associates across nine countries.

“Mosquito Joe’s rally cry is ‘Outside is fun again,’ and we think their service combined with their professionalism and high customer satisfaction marks are the perfect fit for Dwyer Group and our Neighborly offering,” said Mike Bidwell, President and CEO of Dwyer Group. “Mosquito Joe is a market leader in this space, and we look forward to continuing to support its growth.”

Mosquito Joe is a rapidly growing company in the mosquito control services industry, with 288 active territories across 34 states and the District of Columbia and expansion opportunities to the western United States, Canada and beyond. The Mosquito Joe brand is known for its reliability and exceptional service, making its addition to Dwyer Group’s Neighborly brands a seamless transition.

“We are delighted to join one of the most powerful organizations in the industry,” said Lou Schager, President of Mosquito Joe. “Our franchise network and customers will benefit from Dwyer Group’s vast expertise and extensive resources in the service trades, enabling us to further our expansion.”

For more information about Dwyer Group’s service brands visit www.dwyergroup.com.

About Dwyer Group®

Founded in 1981 and based in Waco, Texas, Dwyer Group is a holding company of 21 service brands and supports franchise organizations under the umbrella brand Neighborly in the United States and Neighbourly in Canada. Neighborly® is a community of experts who repair, maintain and enhance properties united under one platform to better meet the needs of today’s consumer. Collectively, these concepts offer customers a broad base of residential and commercial services. More information about Neighborly/Neighbourly, and its franchise concepts, is available at www.getneighborly.com and www.getneighbourly.ca, respectively. Learn more about Dwyer Group at www.dwyergroup.com.

About Mosquito Joe

Virginia Beach, Va.-based Mosquito Joe provides mosquito, tick and flea control treatment to residential and commercial customers nationwide. Technicians are trained mosquito control experts dedicated to getting rid of mosquitoes so people can enjoy being outside again. For more information or franchising opportunities, visit www.mosquitojoefranchise.com.

Veritex Holdings, Inc. Announces Merger with Green Bancorp, Inc., Creating a Premier Texas Community Banking Franchise

DALLAS, TX
HOUSTON, TX

Veritex Holdings, Inc. (NASDAQ:VBTX) (“Veritex”), the parent holding company for Veritex Community Bank, and Green Bancorp, Inc. (NASDAQ:GNBC) (“Green”), the parent holding company for Green Bank, N.A., jointly announced today the entry into a definitive agreement pursuant to which Green and Green Bank, N.A. will merge with and into Veritex and Veritex Community Bank, respectively.

The transaction will create a leading Texas community bank, with 43 branches across Texas, ranking as the tenth largest Texas-based banking institution by deposit market share. The combined franchise would have approximately $7.5 billion in assets, $5.6 billion in loans and $5.9 billion in deposits, based on the companies’ balance sheets as of June 30, 2018.

Veritex Chairman and Chief Executive Officer C. Malcolm Holland stated, “The merger with Green represents a tremendous financial and strategic opportunity for Veritex. In addition to producing significant accretion to EPS and improvements to virtually all of our key operating metrics, this merger results in a top 10 Texas-based community bank with virtually all of its franchise in the attractive MSAs of Dallas-Fort Worth and Houston. We are delighted to welcome Green’s stakeholders to Veritex, including a number of key members of Green leadership into executive positions in our combined franchise.”

Manny Mehos, Chairman and Chief Executive Officer of Green, said, “The merger of Green and Veritex creates a uniquely focused Dallas/Fort Worth and Houston franchise. We believe this is the best possible combination for our shareholders, colleagues, and clients. I am thrilled to join the Board of this combined organization and work with Malcolm, Terry, Geoff, and the rest of the management team.”

Under the terms of the merger agreement, upon completion of the merger, shareholders of Green will receive 0.79 shares of Veritex common stock for each share of Green common stock, valuing the transaction at approximately $1.0 billion, or $25.89 per Green share, based on the closing share price of Veritex of $32.77 on July 23, 2018. Legacy Veritex and Green shareholders will collectively own approximately 45% and 55% of the combined company, respectively.

Upon completion of the merger, C. Malcolm Holland, current Chairman and Chief Executive Officer of Veritex, will continue to serve as Chairman and Chief Executive Officer of the combined company. Terry Earley, current Chief Financial Officer of Green, will serve as Chief Financial Officer of the combined company, and Geoffrey Greenwade, current President of Green, will serve as the Houston President of the combined company. The board of directors of the combined company will consist of nine members, six from Veritex’s current board of directors and three from Green’s current board of directors.

Veritex expects this acquisition to be approximately 25% accretive to earnings per common share, excluding one-time charges. The transaction is expected to produce approximately 12.0% tangible book value per share dilution at closing with an earnback period of approximately 2.8 years.

The merger agreement has been unanimously approved by the board of directors of both Veritex and Green. The merger agreement contains customary representations and warranties and covenants by Veritex and Green. Closing is subject to customary approvals by regulatory authorities and the shareholders of both Veritex and Green, and is expected to occur in the first quarter of 2019.

Stephens Inc. served as financial advisor to Veritex and Keefe, Bruyette & Woods, A Stifel Company, provided a fairness opinion to Veritex. Covington & Burling LLP served as Veritex’s legal advisor. Goldman Sachs & Co. served as financial advisor to Green. Skadden, Arps, Slate, Meagher & Flom LLP served as Green’s legal advisor.

About Veritex Holdings, Inc.

Headquartered in Dallas, Texas, Veritex is a bank holding company that conducts banking activities through its wholly-owned subsidiary, Veritex Community Bank, with locations throughout the Dallas-Fort Worth metroplex and in the Houston metropolitan area. Veritex Community Bank is a Texas state chartered bank regulated by the Texas Department of Banking and the Board of Governors of the Federal Reserve System. For more information, visit www.veritexbank.com.

About Green Bancorp, Inc.

Headquartered in Houston, Texas, Green is a bank holding company that operates Green Bank primarily in the Houston and Dallas metropolitan areas. Commercial-focused, Green Bank is a nationally chartered bank regulated by the Office of the Comptroller of the Currency, a division of the Department of the Treasury of the United States.

Important Additional Information will be Filed with the SEC

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval with respect to the proposed acquisition by Veritex of Green. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, and no offer to sell or solicitation of an offer to buy shall be made in any jurisdiction in which such offer, solicitation or sale would be unlawful.

In connection with the proposed transaction, Veritex plans to file with the U.S. Securities and Exchange Commission (the “SEC”) a Registration Statement on Form S-4 containing a joint proxy statement of Veritex and Green and a prospectus of Veritex (the “Joint Proxy/Prospectus”), and each of Veritex and Green may file with the SEC other documents regarding the proposed transaction. The definitive Joint Proxy/Prospectus will be mailed to shareholders of Veritex and Green. SHAREHOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT AND THE JOINT PROXY/PROSPECTUS REGARDING THE TRANSACTION CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE AND ANY OTHER DOCUMENTS FILED WITH THE SEC BY VERITEX AND GREEN, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors will be able to obtain free copies of the Registration Statement and the Joint Proxy/Prospectus (when available) and other documents filed with the SEC by Veritex and Green through the website maintained by the SEC at www.sec.gov. Free copies of the Registration Statement and the Joint Proxy/Prospectus (when available) and other documents filed with the SEC can also be obtained by directing a request to Veritex Holdings, Inc., 8214 Westchester Drive, Suite 400, Dallas, Texas 75225, or by directing a request to Green Bancorp, Inc., 4000 Greenbriar Street, Houston, Texas 77098.

Participants in the Solicitation

Veritex, Green and their respective directors and certain of their executive officers and employees may be deemed to be participants in the solicitation of proxies from the shareholders of Green or Veritex in respect of the proposed transaction. Information regarding Veritex’s directors and executive officers is available in its proxy statement for its 2018 annual meeting of shareholders, which was filed with the SEC on April 3, 2018, and information regarding Green’s directors and executive officers is available in its proxy statement for its 2018 annual meeting of shareholders, which was filed with the SEC on April 13, 2018. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the Joint Proxy/Prospectus and other relevant materials to be filed with the SEC when they become available. Free copies of this document may be obtained as described in the preceding paragraph.

Forward-looking Statements

This press release includes “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on various facts and derived utilizing important assumptions, current expectations, estimates and projections and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements include, without limitation, statements relating to the impact Veritex expects its proposed acquisition of Green to have on the combined entity’s operations, financial condition, and financial results, and Veritex’s expectations about its ability to successfully integrate the combined businesses and the amount of cost savings and overall operational efficiencies Veritex expects to realize as a result of the proposed acquisition. The forward-looking statements also include statements about Veritex’s future financial performance, business and growth strategy, projected plans and objectives, as well as other projections based on macroeconomic and industry trends, which are inherently unreliable due to the multiple factors that impact economic trends, and any such variations may be material. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. Further, certain factors that could affect future results and cause actual results to differ materially from those expressed in the forward-looking statements include, but are not limited to, the possibility that the proposed acquisition does not close when expected or at all because required regulatory, shareholder or other approvals and other conditions to closing are not received or satisfied on a timely basis or at all, the failure to close for any other reason, changes in Veritex’s share price before closing, that the businesses of Veritex and Green will not be integrated successfully, that the cost savings and any synergies from the proposed acquisition may not be fully realized or may take longer to realize than expected, disruption from the proposed acquisition making it more difficult to maintain relationships with employees, customers or other parties with whom Veritex or Green have business relationships, diversion of management time on merger-related issues, risks relating to the potential dilutive effect of shares of Veritex common stock to be issued in the transaction, the reaction to the transaction of the companies’ customers, employees and counterparties and other factors, many of which are beyond the control of Veritex and Green. We refer you to the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Veritex’s Annual Report on Form 10-K for the year ended December 31, 2017, the Annual Report on Form 10-K filed by Green for the year ended December 31, 2017 and any updates to those risk factors set forth in Veritex’s and Green’s Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings, which have been filed with the SEC and are available on the SEC’s website at www.sec.gov. If one or more events related to these or other risks or uncertainties materialize, or if Veritex’s underlying assumptions prove to be incorrect, actual results may differ materially from what Veritex or Green anticipates. Accordingly, you should not place undue reliance on any such forward- looking statements. Any forward-looking statement speaks only as of the date on which it is made. Neither Veritex nor Green undertakes any obligation, and specifically declines any obligation, to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. All forward-looking statements, expressed or implied, included in this press release are expressly qualified in their entirety by the cautionary statements contained or referred to herein.

Epiq to Acquire Majority Stake in Controle, LLC

ATLANTA, GA
CHICAGO, IL

Epiq, a global leader in the legal services industry, today announced that it acquired a majority interest in Controle, LLC, a leader in information governance services and solutions.

The acquisition allows Epiq to further enhance the comprehensive suite of solutions it delivers to clients through a talented team of information governance and GDPR experts.

“The acquisition of Controle enhances our existing expertise and technology around information governance and GDPR,” said Mike Rogalski, president of eDiscovery, Epiq. “It will increase our ability to deliver services designed to help clients take control of and manage their electronic data through the use of experts, proprietary software and unique workflows.”

“We are thrilled to be joining the Epiq family and to extend our products and services to their client base,” said Kevin Barnicle, chief executive officer of Controle. “The global presence, vision, and operations at Epiq present an exciting opportunity for our existing clients and team at Controle.”

As a result of the transaction, eDiscovery clients of both organizations will have immediate access to the deeper and broadened range of best-in-class legal technology solutions Epiq and Controle provide globally. The acquisition also provides the ability to scale investment in Controle services and technology.

About Epiq

Epiq, a global leader in the legal services industry, takes on large-scale, increasingly complex tasks for corporate counsel, law firms, and business professionals with efficiency, clarity, and confidence. Clients rely on Epiq to streamline the administration of business operations, class action and mass tort, court reporting, eDiscovery, regulatory, compliance, restructuring, and bankruptcy matters. Epiq subject-matter experts and technologies create efficiency through expertise and deliver confidence to high-performing clients around the world. Learn more at www.epiqglobal.com.

VetCor Closes Recapitalization

New York, NY

VetCor Group Holdings Corp. (“VetCor” or “the Company”) completed a recapitalization led by Oak Hill Capital Partners (“Oak Hill”), Harvest Partners, LP (“Harvest”), Cressey & Company, LP (“Cressey”), and the VetCor management team. Terms of the transaction were not disclosed.

VetCor is one of the largest operators of veterinary hospitals in the U.S., managing 272 locations across 28 states and employing approximately 900 veterinarians. VetCor hospitals provide a full range of general medical and surgical services for pets, as well as pharmacy needs and ancillary services such as boarding, grooming, and pet products. The management team of VetCor, led by CEO Dan Adams, will continue to lead the Company.

“We are incredibly excited to grow our business with our new partner, Oak Hill, and continue our partnership with Cressey and Harvest, both of whom have been valuable strategic and financial partners,” said CEO Dan Adams. “We will continue to expand our footprint and develop a thriving ecosystem for our veterinarians and clients to best serve our communities.”

“We are excited to reinvest in VetCor and continue to support Dan Adams, Peter DeFeo, and the rest of the VetCor team in its next phase of growth. VetCor is well-positioned to continue its consolidation strategy in a fragmented and growing market,“ said Jay Wilkins, Partner at Harvest. “VetCor has established itself as a leading platform in the veterinary services space. We look forward to partnering with Oak Hill and continuing our partnership with management as VetCor builds upon its long history of organic and acquisition-related growth,” added Merrick Axel, Partner at Cressey.

Jefferies LLC acted as exclusive financial advisor to VetCor. Jefferies LLC and Golub Capital underwrote and arranged first and second lien financing in connection with the transaction. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to Oak Hill. White & Case LLP served as legal counsel to Harvest Partners. Ropes & Gray LLP served as legal counsel to Cressey. Ira Kleinman, Stephen Carlson, James Mitchel and Joshua Carter from Harvest Partners also worked on the transaction.

About VetCor

VetCor, founded in 1997 and headquartered in Hingham, MA, owns and operates a national family of 272 veterinary hospitals employing over 4,700 veterinarians and supporting staff. VetCor hospitals provide a full range of general medical and surgical services for pets, as well as pharmacy needs and ancillary services such as boarding, grooming, and pet products. The Company has distinguished itself by promoting the local identity of each hospital, offering a family friendly work environment, providing management, training and administrative support to its hospitals, and relying on the veterinarians of each hospital to manage their medical direction. For more information, please visit www.vetcor.com.

About Oak Hill Capital Partners

Oak Hill is a private equity firm managing funds with more than $12 billion of initial capital commitments and co-investments since inception. Over the past 30 years, Oak Hill and its predecessors have invested in over 85 significant private equity transactions across broad segments of the U.S. and global economies. Oak Hill applies an industry-focused, theme-based approach to investing in the following sectors: Consumer, Retail & Distribution; Industrials; Media & Communications; and Services. For more information, please visit www.oakhillcapital.com.

About Harvest Partners

Founded in 1981, Harvest Partners, LP is a leading New York-based private equity investment firm pursuing management buyouts and recapitalizations of middle market companies in North America. Harvest focuses on acquiring profitable companies in the business services and consumer, healthcare services, industrial and energy services, and manufacturing and industrial sectors. For more information, please visit www.harvestpartners.com.

About Cressey & Company

Based in Chicago, IL and Nashville, TN, Cressey & Company is a private investment firm focused on building leading healthcare services and information technology businesses. With a history spanning more than 35 years, the Cressey & Company team is one of the most experienced and successful in the healthcare private equity field. For more information, please visit www.cresseyco.com.

Valet Living Acquires Invisible Waste Services to Further Solidify its Nationwide Presence

TAMPA, FL

As of June 22, 2018, Valet Living, pioneer of the doorstep collection amenity, acquired Invisible Waste Services (IWS). Servicing more than one million apartment homes across 38 states, and as the nation’s leading provider, Valet Living has expanded to deliver on its vision as the only nationally-recognized full-service amenities provider to the multifamily industry, enhancing life for both residents and property managers.

In addition to doorstep collection and recycling services, Valet Living also sets the standard for turn services, maintenance support, and pet solutions and recently announced Valet Living Home, a mobile application platform for residential amenities.

IWS, the nation’s second largest doorstep trash provider, is excited to join the Valet Living portfolio and enable all of its associates to join the Valet Living team as well.

“IWS is a service based company, and we believe it can reach its full potential by aligning with Valet Living, a company that specializes and excels in that space,” said CEO and President of Cascade Engineering, IWS’s parent company, Mark Miller.

As innovators in the multifamily industry, IWS and Valet Living will now work together under the Valet Living umbrella and operate as one.

“This acquisition will elevate our presence nationally and further solidfy our place as the nationwide leader in the multifamily industry,” said CEO and President of Valet Living, Shawn Handrahan. “IWS has been an innovator in our industry since 2001, offering services such as pressure washing and being among the first to introduce the bench container and bag catcher. IWS takes pride in its associates just as we do at Valet Living, and we look forward to bringing IWS’s associates on board and growing our team to become better tomorrow than we are today.”

About Valet Living:

As a Tampa Bay Times Top Workplace, Valet Living has been setting the standard for doorstep collection and recycling since 1995. Servicing over a million apartment homes across 38 states, Valet Living has grown to become not just the only national provider of doorstep collection and recycling services, but also the only nationally-recognized full service amenities provider to the multifamily industry. In addition to doorstep collection, Valet Living’s turns, maintenance and pet station solutions make life easier for both property managers and residents, while improving property values. With the launch of its resident-facing amenity services app, Valet Living Home, Valet Living is now the only company in the multifamily industry to combine doorstep collection with both sustainability-related and premium home-related services. Valet Living is a portfolio company of the Private Equity Group of Ares Management, L.P. (NYSE: ARES) and Harvest Partners, LP. For more information, please visit www.valetliving.com.

Neighborly

  • Business

    Neighborly® is the world’s largest home services franchisor of 25 service brands (including Neighborly umbrella service brand) and more than 4,000 franchise owners serving 10 million+ customers in nine countries, focused on repairing, maintaining and enhancing homes and businesses. The company operates online platforms that connect consumers to service providers in their local communities that meet their rigorous standards as a franchisor across 15 service categories at Neighborly.com in the United States and Neighborly.ca in Canada.

    Neighborly is an active member in the International Franchise Association (IFA), Canadian Franchise Association (CFA), British Franchise Association (BFA) and German Franchise Association and is a founding company of the Veterans Transition Franchise Initiative (VetFran). Neighborly was named as part of the 2019 Inc. 5000 most successful privately-owned companies in America.

  • Harvest Partners Investment

    In May 2018, Harvest Partners acquired Neighborly, formerly known as Dwyer Group Franchising, LLC, in partnership with management. To fund the acquisition, Harvest provided equity capital and arranged the debt financing. In addition, Harvest arranged equity co-investment capital.

  • Investment Thesis

    • Leading player in the large, growing and fragmented home services market
    • Diversified platform with limited cyclicality
    • Attractive growth profile with high margins and strong cash flows
    • Proven M&A track record
    • Experienced management team with history of success

The Future of Resident Amenities is Here with Valet Living Home

Valet Living Home is the only amenity services app developed specifically for apartment residents by multifamily amenity experts.

TAMPA, FL

Last week, in front of over 10,000 attendees at the National Apartment Association’s Apartmentalize Conference and Exposition, Valet Living debuted its latest venture, Valet Living Home. The much-anticipated undertaking set the multifamily community abuzz with interest from property managers nationwide.

The Valet Living Home mobile app is one of a kind, as it is the only app developed exclusively for the multifamily industry to give apartment residents access to the services they want, making their lives easier in the process. Residents at Valet Living Home communities can order home cleans, have their pets cared for, save money on local deals and more through a single app, giving residents more time to spend with family and friends instead of worrying about daunting household chores.

“Valet Living has been servicing the multifamily community since 1995,” said CEO and President, Shawn Handrahan. “Over the past 23 years we have built wonderful partnerships with the communities that we service, and as a company, we have been looking for ways to help these communities even more. The idea for Valet Living Home did not start in our corporate office. We listened to what property managers and residents have been asking us, and that is how we cultivated Valet Living Home.”

The Valet Living Home mobile app is one of a kind, as it is the only app developed exclusively for the multifamily industry to give apartment residents access to the services they want, making their lives easier in the process. Residents at Valet Living Home communities can order home cleans, have their pets cared for, save money on local deals and more through a single app, giving residents more time to spend with family and friends instead of worrying about daunting household chores. Valet Living Home also provides a concierge offering with customizable services that include dry cleaning, wash and fold laundry, in home package delivery and on-demand trash pickup.

“To download the app and order the service was simple,” says resident Donald Welmer. “You click a button on the app, and then you come home, and everything is done, it’s perfect. Valet Living just makes it easy!”

Years of research and development went into creating the Valet Living Home mobile app. In order to gauge the voice of the resident, Valet Living surveyed thousands of multifamily residents to understand the desires and expectations in an amenity services provider. The information that Valet Living gathered ultimately fueled the development of the Valet Living Home app as you see it today.

“Valet Living Home has made my life super easy,” exclaims another resident, Marcus Warren. “My packages are there on time; my apartment is clean when I come home. I’m happy – it felt like I was coming back to a hotel room!”

The goal of Valet Living Home is in line with Valet Living’s core mission, setting the standard for residential living to make lives easier for both property managers and residents, while improving property values.

“Industry experts credit tech-enabled amenities with driving new leases and resident retention,” said Chief Marketing Officer, Patti Girardi. “Data shows 83% of new residents are downloading the app (three times the industry average) with 64% of registered users placing an order (twice the industry average).”

Valet Living Home is active in ten markets within the United States and will be announcing additional markets in the coming months.

“We have received tremendous interest in the few short days since we have launched this app,” said Regional Vice President of Valet Living Home, Matt Graves. “The data that we have gathered from our first communities shows that Valet Living Home increases not only resident retention but also increases resident satisfaction.”

To contact Valet Living for more information about Valet Living Home, please visit www.valetliving.com/contact/valet-living-home-request.

About Valet Living:

As a Tampa Bay Times Top Workplace, Valet Living has been setting the standard for doorstep collection and recycling since 1995. Servicing over a million apartment homes across 38 states, Valet Living has grown to become not just the only national provider of doorstep collection and recycling services, but also the only nationally-recognized full service amenities provider to the multifamily industry. In addition to doorstep collection, Valet Living’s turns, maintenance and pet station solutions make life easier for both property managers and residents, while improving property values. With the launch of its resident-facing amenity services app, Valet Living Home, Valet Living is now the only company in the multifamily industry to combine doorstep collection with both sustainability-related and premium home-related services. Valet Living is a portfolio company of the Private Equity Group of Ares Management, L.P. (NYSE: ARES) and Harvest Partners, LP.

Epiq Acquires Garden City Group

Historic Combination of the Industry’s Two Leading Legal Services Providers Expands Leadership in Class Action, Mass Tort, Data Breach and Corporate Restructuring

ATLANTA, GA

Epiq, a global leader in the legal services industry, today announced that it has acquired Garden City Group (GCG) from Crawford & Company® (www.crawfordandcompany.com) (NYSE:CRD-A) (NYSE:CRD-B), the world’s largest publicly-listed independent provider of claims management solutions to insurance companies and self-insured entities. GCG provides legal administration services for class action, bankruptcy, mass tort, regulatory matters, and legal notice programs.

“The addition of GCG to our leading class action, mass tort, data breach, and restructuring business represents an unprecedented combination of expertise, knowledge, and resources that has never before been leveraged on such a massive scale in our industry,” said John Davenport, Jr., chief executive officer of Epiq. “Joining forces with GCG demonstrates our commitment to this industry and to creating unmatched settlement and bankruptcy solutions for our clients.”

“This is an important strategic transaction for Crawford that allows us to further concentrate our attention and resources on high-growth business segments where we have established leadership positions,” said Harsha V. Agadi, president and CEO of Crawford & Company. “Just as importantly, we have found a great home for our legal administrative services business and the dedicated GCG employees to continue to excel and succeed.”

Combined operations include two state-of-the-art print, mail, and contact center locations in Beaverton, Oregon and Dublin, Ohio as well as call centers in Phoenix and Tampa, Florida.

As a result of the transaction, GCG will rebrand as Epiq in the fourth quarter of 2018.

Advisors for the transaction included Alvarez & Marsal, Bryan Cave Leighton Paisner LLP, and Davies Ward Phillips & Vineberg LLP.

About Crawford

Based in Atlanta, Crawford & Company (NYSE:CRD‐A) (NYSE:CRD‐B) is the world’s largest publicly listed independent provider of claims management solutions to insurance companies and self‐insured entities with an expansive global network serving clients in more than 70 countries. The Company’s two classes of stock are substantially identical, except with respect to voting rights and the Company’s ability to pay greater cash dividends on the non-voting Class A Common Stock (CRD-A) than on the voting Class B Common Stock (CRD-B), subject to certain limitations. In addition, with respect to mergers or similar transactions, holders of CRD-A must receive the same type and amount of consideration as holders of CRD-B, unless different consideration is approved by the holders of 75 percent of CRD-A, voting as a class. More information is available at www.crawfordandcompany.com.

About Epiq

Epiq, a global leader in the legal services industry, takes on large-scale, increasingly complex tasks for corporate counsel, law firms, and business professionals with efficiency, clarity, and confidence. Clients rely on Epiq to streamline the administration of business operations, class action and mass tort, court reporting, eDiscovery, regulatory, compliance, restructuring, and bankruptcy matters. Epiq subject-matter experts and technologies create efficiency through expertise and deliver confidence to high-performing clients around the world. Learn more at www.epiqglobal.com.

Harvest Partners Announces the Acquisition of Dwyer Group

NEW YORK, NY

Harvest Partners, LP (“Harvest Partners”), announced today that funds managed by Harvest have completed a new investment in Dwyer Group (“The Company”). Dwyer Group, headquartered in Waco, TX, is the market leader in the service franchise category focused on offering residential and commercial customers with a community of professional services. The Company’s management team, led by President and CEO Mike Bidwell, will continue to lead Dwyer Group. Additional terms of the transaction were not disclosed.

Dwyer Group supports 20 service brands with a franchise network including more than 3,200 franchisees operating in the United States and eight other countries.

Of the transaction Mike Bidwell said, “On behalf of Dwyer Group’s Board of Directors and leadership team, we expect to accelerate our growth and deliver on our strategies at an even-higher level by joining Harvest Partners. Their capital, experience and enthusiasm will help Dwyer Group build on our dominant industry position to repair, maintain and enhance homes and properties and expand our Neighborly platform.”

Steve Eisenstein, Partner at Harvest, said “We are thrilled to partner with Dwyer Group’s management team. They have built an excellent company and we look forward to providing additional financial and strategic resources to help them further build their market leadership in the service franchise category.”

Nick Romano, Partner at Harvest, added, “Dwyer Group is an exceptional franchise platform with multiple avenues for growth through the Neighborly brand and strategic acquisitions of new service brands. Harvest is excited to work with Mike and his management team in the next stage of their growth.”

The sale represents the fourth and largest private equity transaction for Dwyer Group.

Harris Williams and William Blair acted as financial advisors to Dwyer Group and Jefferies and Moelis & Company acted as financial advisors to Harvest Partners. Harvest Partners legal advisor was White & Case LLP. Steve Eisenstein, Nick Romano, and David Schwartz from Harvest Partners will join Mike Bidwell and Dina Dwyer-Owens on the Board of Directors of Dwyer Group.

About Dwyer Group:

Founded in 1981 and based in Waco, Texas, Dwyer Group is a holding company of 20 service brands, which support franchise organizations under the umbrella brand Neighborly in the United States and Neighbourly in Canada. Neighborly® is a community of experts who repair, maintain and enhance properties united under one platform to better meet the needs of today’s consumer. Collectively, these concepts offer customers a broad base of residential and commercial services. More information about Neighborly/Neighbourly, and its franchise concepts, is available at www.getneighborly.com and www.getneighbourly.ca, respectively. Learn more about Dwyer Group at www.dwyergroup.com.

About Harvest Partners

Founded in 1981, Harvest Partners is a leading New York-based private equity investment firm that pursues management buyouts and recapitalizations of middle market companies in North America. Harvest focuses on acquiring profitable companies in the business services, consumer, healthcare services, and industrial sectors. This strategy leverages Harvest Partners’ 35+ years of experience in financing organic and acquisition-oriented growth companies. For more information, please visit www.harvestpartners.com.

Epiq Acquires Soliton Systems’ E-Discovery Business, Japanese Character Processing

The acquisition provides a direct answer to the East Asian language barrier problems many U.S.-based e-discovery providers face.

For the past several years, Asia has represented one of the largest growing markets for e-discovery services. The increase in demand, though, has led to some issues with e-discovery software providers, both in translating East Asian languages for e-discovery tools, as well as complying with local discovery and data protection regulations.

Legal services company Epiq, one of the largest e-discovery companies in the industry, is tackling this issue through a method that is becoming increasingly common: M&A. On June 1, Epiq announced its acquisition of Tokyo-based Soliton Systems’ e-discovery business, formerly known as Ji2. Financial details for the transaction have not been announced.

Soliton Systems is primarily known for its IT security, video communication, and eco-device businesses. In e-discovery, however, it is known for its patented, proprietary technology that optimizes Japanese character set processing. This provides a direct answer to the language barrier problems many U.S.-based e-discovery providers face, and the capability will likely be integrated into Epiq’s systems in due time.

In addition, Epiq will be bringing on board Soliton’s e-discovery experts within Japan, growing a stable of international e-discovery managers that has only grown since the company formerly known as Epiq Systems was purchased by fellow e-discovery company DTI in 2016.

“The acquisition of Soliton’s e-discovery business enhances our existing presence and expertise in Japan,” said Caroline Woodman, Epiq managing director, Asia, in a press release. “It will increase our flexibility to service both local Japanese companies as well as multinational companies doing business in Japan. Ji2 was a highly recognized name in Japanese e-discovery, and we look forward to bringing their expertise in-house.”

2018 has been a banner year for e-discovery M&A thus far. Among the deals in recent months are Catalyst’s acquisition of TotalDiscovery, CloudNine’s acquisition of the LexisNexis E-Discovery Suite, and the merger of Consilio and Advanced Discovery.

Green Bancorp, Inc. Announces Pricing of Secondary Public Offering of Common Stock

HOUSTON, TX

Green Bancorp, Inc. (NASDAQ:GNBC) (the “Company”), announced today the pricing of a public offering by certain of the Company's shareholders (the “Selling Shareholders”) of 2,000,000 shares of its common stock, at a public offering price of $22.80 per share. The offering consists entirely of secondary shares to be sold by the Selling Shareholders. The Company will not receive any of the proceeds from the shares sold in the offering. In connection with the offering, the Selling Shareholders have granted the underwriter a 30-day option to purchase up to 300,000 additional shares of the Company's common stock at the public offering price per share, less underwriting discounts. The offering is expected to close on May 29, 2018, subject to customary closing conditions.

Barclays is acting as sole underwriter for the offering.

The offering is being made pursuant to the Company's effective shelf registration statement filed with the Securities and Exchange Commission (the "SEC"). The offering is being made only by means of a prospectus and a related prospectus supplement. Prospective investors should read the prospectus supplement and the prospectus in that registration statement and other documents the Company has filed or will file with the SEC for more complete information about the Company and the offering. You may obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the prospectus and prospectus supplement may be obtained from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, email: Barclaysprospectus@broadridge.com, telephone: (888) 603-5847.

This press release does not constitute an offer to sell or the solicitation of an offer to buy shares of common stock, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Green Bancorp, Inc.

Headquartered in Houston, Texas, Green Bancorp is a bank holding company that operates Green Bank in the Houston and Dallas metropolitan areas and Austin, Louisville and Honey Grove. Commercial-focused, Green Bank is a nationally chartered bank regulated by the Office of the Comptroller of the Currency, a division of the Department of the Treasury of the United States.

Forward-Looking Statements

Certain statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to the offering. These statements are based on management’s current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, many of which are beyond our control. The Company can give no assurance that its expectations will be attained. Accordingly, you should not place undue reliance on any forward-looking statements contained in this press release.

For a discussion of some of the risks and important factors that could affect such forward-looking statements, see the sections entitled “Risk Factors” in the prospectus supplement and the prospectus related to the offering and in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, as well as the sections entitled “Management’s Discussion and Analysis of Financial Condition and Results of Operations” incorporated by reference in the prospectus supplement related to the offering from the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. In addition, new risks and uncertainties emerge from time to time, and it is not possible for the Company to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Such forward-looking statements speak only as of the date of this press release. The Company expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.