Read newsletter_Spring07.qxp text version

TA Newsletter

G R OW T H P R I VAT E EQU I T Y

Buyouts and Minority Investments

Summer 2007

Recent Investments

$836 million invested

Alere Medical, Inc. Reno, Nevada In March, TA completed a buyout of Alere Medical, a leader in specialized disease management services. Alere covers more than 20 million commercially insured and 2 million Medicare insured individuals in all 50 states, and has approximately 102,000 active participants. FreeWave Technologies, Inc. Boulder, Colorado In June, TA completed an investment in FreeWave Technologies, a leading provider of high performance spread spectrum and licensed wireless data communication products and systems for mission critical applications in the commercial and military markets. The company's data radios are used in diverse applications across such industries as oil and gas, utilities, military, security, recreation and agriculture. IntraLinks, Inc. New York, New York In June, TA completed a majority recapitalization of IntraLinks, a leading provider of online workspaces for secure document exchange. IntraLinks® On-Demand WorkspacesTM connect business communities and accelerate the intelligent flow of information and documents among participants. Since 1997, more than 700,000 participants representing over 80,000 organizations worldwide have used IntraLinks On-Demand WorkspacesTM to communicate and collaborate on thousands of projects and transactions. Jupiter Investment Management Group London, United Kingdom In June, TA completed a management buyout of Jupiter Investment Management Group from Commerzbank AG. Jupiter is one of the UK's leading fund management groups, managing $40 billion of investments for both private and institutional investors in unit trusts, institutional mandates, investment trusts, hedge funds, offshore funds, pensions and private client portfolios. Jupiter management invested significant personal assets in the complex buyout allowing them to achieve majority ownership with TA as a minority partner. K2 Advisors, L.L.C. Stamford, Connecticut In April, TA completed a minority investment in K2 Advisors, a fund of hedge funds with $6 billion under management serving both institutional and private investors globally. The firm manages low volatility investment strategies designed to produce absolute returns with a low correlation to traditional equity and fixed income markets. K2's clients are predominantly institutional investors who value K2's thorough risk management process and security-level transparency. Twin Med, LLC Santa Fe Springs, California In June, TA completed a recapitalization of Twin Med, a leading medical supplies distributor serving long-term care facilities throughout the U.S. Twin Med utilizes a unique Per Patient Day (PPD) cost management program that generates significant savings and is revolutionizing how long-term care facilities purchase products. With warehouses strategically located around the country, Twin Med can provide products to any customer in the U.S. with a one day lead time.

Recent Liquidity Events

realized $1.4 billion of gains

Asurion Nashville, Tennessee In July, Asurion was sold to a consortium of private equity investors. Asurion is a provider of non-network enhanced services for the wireless industry. Drive Assist, UK Ltd. Tamworth, United Kingdom In February, Drive Assist was acquired by Charterhouse Capital Partners. The company is a rapidly growing provider of replacement vehicles across the UK. First American CoreLogic, Inc. Sacramento, California In February, CoreLogic, a C&S Company, merged with First American Real Estate Solutions. CoreLogic is a leading provider of mortgage lending information and technology. Florida Career College Hialeah, Florida In June, Florida Career College was acquired by Greenhill Capital Partners and Abrams Capital. The company is an accredited, private, for-profit career college.

Recent Liquidity Events (cont'd)

GlobeOp Financial Services (LSE: .GO) London, United Kingdom In July, GlobeOp Financial Services completed a $105,000,000 Initial Public Offering. GlobeOp is a leading provider of outsourced automated middle- and back-office support services, fund administration and risk reporting for hedge funds, fund-of-funds and high net worth family wealth managers. Idea Cellular, Ltd. (NSE: IDEA; BSE: IDEA CELL) Pune, India In March, Idea Cellular completed a $475,000,000 Initial Public Offering that was priced at the high end of the offering range. The Idea issue was oversubscribed by more than 50 times, making it the highest institutional demand ever received for any Indian capital market offering. Idea Cellular is one of the fastest growing providers of wireless communications services in India. MetroPCS Communications, Inc. (NYSE: PCS) Dallas, Texas In April, MetroPCS Communications completed a $1,150,000,000 Initial Public Offering that was priced at the high end of the offering range. The company is a rapidly growing provider of wireless communications services. Monotype Imaging, Inc. (NASDAQ: TYPE) Wilmington, Massachusetts In July, Monotype Imaging completed a $132,000,000 Initial Public Offering. Monotype is a leading provider of fonts and imaging technologies to businesses and consumers worldwide. PROS Holdings, Inc. (NYSE: PRO) Houston, Texas In June, PROS Holdings completed a $75,075,000 Initial Public Offering that was priced at the mid-point of the offering range. The company is the world's leader in pricing and revenue optimization solutions.

Portfolio Company News

Eagle Test Systems, Inc. (NASDAQ: EGLT) Mundelein, Illinois In April, Eagle Test Systems, a leading supplier of quality, low-cost, high-volume production automated test equipment for the semiconductor industry, received a "2006 Supplier Excellence Award" from Microchip Technology Inc. (NASDAQ: MCHP), a leading provider of microcontroller and analog semiconductors. Global 360, Inc. Dallas, Texas In January, Global 360, a global software and services company providing business process management and optimization solutions, was nominated as a "2006 Deal of the Year" by Acquisition Finance Magazine. In February, Global 360 was named one of KMWorld magazine's "100 Companies That Matter in Knowledge Management" based on its innovative BPM solutions. Jupiter Investment Management Group London, United Kingdom In September, Jupiter Investment Management Group, one of the UK's leading fund management groups, was named the overall winner of the Citywire Team All Stars Award for 2007. Logistics Health Inc. La Crosse, Wisconsin Logistics Health, a rapidly growing provider of disease prevention and health information management services to the government and commercial enterprises, announced that Assistant Secretary of Defense for Health Affairs William Winkenwerder, Jr., MD, MBA, joined LHI's executive team in June. He will advise and counsel LHI on business development and strategic planning initiatives and will serve as a member of the Board of Directors. Lumber Liquidators, Inc. Toano, Virginia Lumber Liquidators, the largest direct retailer specializing in hardwood flooring in the United States, was recognized as having one of the Top 50 Websites for 2007 by Internet Retailer, the first magazine devoted to reporting on the Internet revolution in retailing and the only remaining magazine on the market with this exclusive focus. Sophos Plc Abingdon, United Kingdom In January, Sophos, a world leader in providing enterprise-wide anti-virus protection to corporations, governments and academic institutions, completed an acquisition of ENDFORCE, a leader in endpoint security policy compliance and network access control (NAC) solutions for enterprise customers. Triumph HealthCare Houston, Texas In July, Triumph HealthCare, a privately-owned hospital management company that develops and operates freestanding long-term acute care (LTAC) hospitals, acquired Memorial Hermann Continuing Care Corporation's LTAC operations. The deal will further solidify Triumph HealthCare as the market leader in long-term acute care. WebSideStory, Inc. (NASDAQ: WSSI) San Diego, California In February, WebSideStory, a leading provider of Internet-based web audience analysis and Internet intelligence, was named one of KMWorld magazine's "100 Companies That Matter in Knowledge Management" based on its innovative BPM solutions.

Staff Additions

New Vice Presidents

James Hart joined TA's Menlo Park office in July and will concentrate his efforts on recapitalizations and buyouts of growth companies in the healthcare, business services, financial and consumer sectors. Prior to joining TA, he was an Associate at Sageview Capital and an Associate at Kohlberg Kravis Roberts & Co. He also worked in the Investment Banking department of Banc of America Securities. James received a BA degree, summa cum laude, Phi Beta Kappa, in Political Science and Asian Studies from Amherst College (2001) and an MBA degree as an Arjay Miller Scholar from the Stanford University Graduate School of Business (2007). Tad Yanagi joined TA's Boston office in August and will concentrate his efforts on recapitalizations and buyouts in the healthcare and service-related sectors. Prior to joining TA, he was the Treasurer of Sunny Delight Beverages Co. He also worked as a Senior Associate at J.W. Childs Associates and as an Analyst at Morgan Stanley. Tad received a BA degree, cum laude, in Economics from Yale University (2000) and an MBA from the Stanford Graduate School of Business (2007).

New Associates

Håkan Håkansson joined TA's London office in February as an Associate. Prior to joining TA, he was an Investment Banking Analyst in the Nordic Advisory Group at Goldman Sachs International, London. He received an M.Sc. degree in Economics and Business Administration from the Stockholm School of Economics, Sweden (2005). Noel Jeon joined TA's Boston office in July as an Associate. Prior to joining TA, he was an Analyst in the Global Financial Institutions Group at UBS Investment Bank. He received a BS degree in Finance and Accounting from the New York University Leonard N. Stern School of Business (2005). Ethan Liebermann joined TA's Boston office in August as an Associate. Prior to joining TA, Ethan was an Analyst in the Global Healthcare Corporate and Investment Banking Group at Banc of America Securities. He received BA degrees in Economics and Biology from the University of Pennsylvania (2004). Emily McGinty joined TA's Boston office in August as an Associate. Prior to joining TA, Emily was an Analyst working in the Consumer, Healthcare and Retail Investment Banking Group at JPMorgan Securities. She received a BA degree, summa cum laude, in Economics from Boston College (2005). Mark McLaughlin joined TA's Menlo Park office in June as an Associate. Prior to joining TA, he was an Analyst and then Consultant in the Strategy and Operations Group at Oliver Wyman (fka Mercer Management Consulting). He received BA and MA degrees in History from Stanford University (2004). Zeeshan Merchant joined TA's Menlo Park office in August as an Associate. Prior to joining TA, Zeeshan was an Investment Banking Analyst at Morgan Stanley. He received a BA degree, summa cum laude, in Economics from the University of Pennsylvania (2005). Sendil Rajendran joined TA's Menlo Park office in August as an Associate. Prior to joining TA, Sendil was an Investment Banking Analyst in the Financial Institution Group, Investment Banking Division at J.P. Morgan Securities. He received a BS degree in Electrical and Computer Engineering from Cornell University (2005). Justin E. Roberts joined TA's Boston office in August as an Associate. Prior to joining TA, Justin was an Analyst in the Leveraged Finance Group at Banc of America Securities. He received a BA degree, cum laude, in Economics and Biology from the University of Pennsylvania (2005). David Yang joined TA's Boston office in August as an Associate. Prior to joining TA, David was an Investment Banking Analyst in the Technology, Media and Telecommunications Group at Goldman, Sachs & Co. He received a BS degree, summa cum laude, in Economics and a BA degree in International Relations from the University of Pennsylvania (2005).

9/07

Information

newsletter_Spring07.qxp

3 pages

Report File (DMCA)

Our content is added by our users. We aim to remove reported files within 1 working day. Please use this link to notify us:

Report this file as copyright or inappropriate

526480


Notice: fwrite(): send of 207 bytes failed with errno=104 Connection reset by peer in /home/readbag.com/web/sphinxapi.php on line 531