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The latest news and updates from NAIC, the largest network of diverse-owned private equity firms and hedge funds.
NAIC E-News Update

The Largest Network of Diverse-Owned Private Equity Firms and Hedge Funds

NAIC Perspectives

NAIC Perspectives: The Role of Diversity in Creating Tomorrow’s Firms

In this installment of Perspectives, NAIC’s online video series, William Blair & Co.’s Stephanie Braming, CFA, Partner and Global Head of Investment Management, shares her thoughts on the role diversity plays in creating the next generation of successful investment management firms. Different cultures and outlooks lead to a cognitive diversity that Braming says can lead to stronger outcomes. Diversity has to come from the top down but be holistic from the bottom up with intentional leadership, recruiting programs and opportunities provided for further career development.


NAIC Roadshow

Joe Cozzolino Joins Siris Capital Group as Executive Partner

Siris Capital Group, LLC announced that Joe Cozzolino has joined Siris as an executive partner. Mr. Cozzolino was most recently Senior Vice President and Worldwide General Manager at Cisco Services. In his new role at Siris, Mr. Cozzolino will work closely with the firm’s investment professionals and other executive partners to identify and validate potential investment opportunities for Siris as well as assist in the oversight and operations of Siris’ portfolio companies. In his most recent role at Cisco, Mr. Cozzolino was responsible for growing Cisco’s $12.7 billion global services business. During his tenure there, Mr. Cozzolino and his team successfully led efforts for a variety of the company’s initiatives including restructuring its Managed Services P&L, the divestiture of its video CPE business and the restructuring of its Mobility business.



NAIC Compliance Corner

Got News? Let Us Know!

Whether your firm has closed on a big deal, a new fund or brought in a new executive, the NAIC wants to know! Please share the important happenings at your firm with us for inclusion in our e-newsletters and let your colleagues around the industry know of your successes. Please send news releases to Alan Hughes: [email protected]


MEMBERS IN THE NEWS

Vista Equity Partners to Acquire MINDBODY, Inc. for $1.9 Billion

MINDBODY, Inc. (NASDAQ: MB) announced that it entered into a definitive agreement to be acquired by Vista Equity Partners in a deal valued at $1.9 billion, or $36.50 in cash per share. The transaction is expected to close in the first quarter of 2019. Publicly traded MINDBODY, Inc. is the leading technology platform for the fitness, beauty and wellness services industries. Local entrepreneurs worldwide use MINDBODY's integrated software and payments platform to run, market and grow their businesses.


Sycamore Partners Completes Acquisition of Pure Fishing

Sycamore Partners announced that has completed its acquisition of Pure Fishing from Newell Brands. Pure Fishing manufactures and sells fishing tackle, lures, rods and reels and other outdoor and recreational lifestyle products. The company has a portfolio of brand names including Abu Garcia, All Star, Berkley, Chub, Fenwick, Greys, Hardy, Hodgman, Johnson, JRC, Mitchell, Penn, Pflueger, Sebile, Shakespeare, SpiderWire, Stren, and Ugly Stik. Pure Fishing’s products are sold through a network of retailers and distributors to customers in the United States and internationally. In 2017, Pure Fishing’s revenues were approximately $556 million.



Clearlake Capital-Backed Janus International Announces Acquisitions

Janus International Group, LLC announced the acquisition of Nokē, Inc., the creator of high tech smart locking solutions. The Smart Entry System has modernized access control in self-storage by allowing tenants mobile access to their unit, gates, man-doors, and elevators. Janus also announced the acquisition of Active Supply and Design (CDM) Ltd, one of Europe’s top installers and self-storage systems solutions providers. The combination of Janus’ European operations and ASD will continue to develop, manufacture and install market-leading solutions for the international self-storage market. Janus International, a Clearlake Capital Group portfolio company, is a global manufacturer and supplier of turn-key self-storage building solutions including roll up and swing doors, hallway systems and re-locatable storage units, and facility and door automation tools.



One Rock Capital Affiliate Acquires CastFutura S.p.A.

One Rock Capital Partners, LLC announced that one of its affiliates, Robertshaw, acquired CastFutura S.p.A., a leading provider of combustion, safety and ignition products for cooking and heating applications. Since its founding in 1969, CastFutura manufactures products for gas systems including burners, thermocouples, spark plugs, igniters and switch harnesses. CastFutura employs approximately 750 employees and has operations in Bulgaria, Poland, Hungary, Italy and Brazil along with CastFutura’s headquarters and engineering center in Terno D’Isola. Robertshaw, an affiliate of One Rock Capital Partners, is a global engineering and manufacturing company focused on controls and solutions for residential white goods and commercial appliances. .



RLJ Equity Partners Acquires Olson Brothers Pro-Vac

Brown Gibbons Lang & Company announced the sale of Olson Brothers Pro-Vac, LLC, to RLJ Equity Partners, LLC. The specific terms of the transaction were not disclosed. Located in Puyallup, Washington, Pro-Vac is a leading environmental, infrastructure, and municipal services provider in the Pacific Northwest. The company offers a comprehensive suite of essential support services to the infrastructure, municipal, and environmental markets, including hydroexcavation, storm and sewer maintenance, pipe/line jetting, industrial vacuum cleaning, CCTV inspection, commercial sweeping, tank rental, and other specialty services. Pro-Vac is a valued strategic partner to a diverse group of premier contractor, utility, municipal, and manufacturing customers in its region. Prior to the transaction, the company was majority-owned by Peninsula Capital Partners, a Detroit, Michigan-based private investment firm; Silver Peak Partners, a Denver, Colorado-based private investment firm; and key Pro-Vac management team members.


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