Beverly Hills-based private equity firms Platinum Equity and Gores Group agreed to sell Data Blue, an Atlanta-based provider of information technology services, to Court Square Capital Partners.
Financial terms of the transaction between the local firms and New York-based private equity firm Court Square were not disclosed.
Founded in 2011, Data Blue provides customized cloud and technology solutions to customers in North America.
Gores Group, founded by Alec Gores in 1987, and Platinum Equity, which was founded by Alec’s brother Tom Gores in 1995, acquired a controlling stake in Data Blue in 2016 through their Gores Small Capitalization Partners fund. The Gores’ firms worked with Data Blue’s management team to expand the business.
Data Blue Chief Executive Stephen Ayoub said in a statement that the partnership with Platinum Equity and Gores Group helped Data Blue “substantially grow and diversify” over the past three years.
Since 2016, Data Blue has completed two acquisitions: technology consulting company Williams & Garcia in April 2017 and data storage company LPS Integration Inc. in February 2017.
Platinum Equity Partner Jacob Kotzubei said the firm’s work with Data Blue has helped Data Blue form a “scalable platform” aimed at sustainable long term growth.
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Atar Capital Buys Sustainable Solutions
Century City-based private investment firm Atar Capital has acquired Sustainable Solutions Group through Atar portfolio company Recycling and Waste Solutions.
Woodstock, Ga.-based Sustainable Solutions, which was founded in 2009, manages recycling and waste reduction programs for a large portfolio of commercial clients including retail centers, office buildings and hotels.
Recycling Waste Solutions, of Chadds Ford, Pa., provides large businesses and logistics operators with commodity recycling and waste services.
Financial terms of the transaction were not disclosed. This is Atar’s third acquisition in six months.
Cyrus Nikou, founder and managing partner of Atar Capital, said the firm sees growth opportunities for Sustainable Solutions to serve customers in the commercial property management and apartment sectors.
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Skyview Capital Picks up King Teleservices
Beverly Hills investment firm Skyview Capital, run by Platinum Equity alum Alex Soltani, bought Brooklyn, N.Y.-based King TeleServices from parent American Stock Transfer & Trust Co.
King TeleServices will become part of Skyview’s Continuum Global Solutions business, a company Skyview acquired in October from Florham Park, N.J.-based Conduent Inc.
The deal encompassed a portfolio of customer service contracts Conduent had owned that generated $500 million in revenue in 2017 and employed 15,000 workers.
Terms of the transaction were not disclosed.
King Teleservices employs about 300 people and provides call center services for New York City’s municipal and government programs, and for Publishers Clearing House Inc., a New York company that markets merchandise and magazine subscriptions with sweepstakes and prize-based games.
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Clearlake looks to sell Perforce
Santa Monica-based private equity firm Clearlake Capital Group is planning to sell one of its portfolio companies, Perforce Software Inc., a source with knowledge of the firm’s intentions said.
Clearlake Capital, which was founded in 2006 and manages more than $6 billion of institutional capital, has owned Perforce since January 2018. Perforce provides development operations — or DevOps — software for technology companies. Perforce is headquartered in Minneapolis and serves more than 3,000 customers worldwide.
Since Clearlake’s acquisition of Perforce, the company has made two purchases. In May, Perforce bought software firm Programming Research Ltd. of the United Kingdom, and in October, Perforce purchased Boston-based Perfecto Mobile, a cloud-based automated mobile and web application test software solutions firm.
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