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Clearlake Capital to buy Vision Solutions

Clearlake Capital Group LP said May 12 that it agreed to buy Vision Solutions Inc from Thoma Bravo LLC. Financial terms weren’t announced. Irvine, California-based Vision Solutions provides software solutions designed to protect data, minimize downtime and maximize resources for data centers. UBS Investment Bank, Evercore and Foros served as financial advisors to Clearlake. Jefferies LLC acted as exclusive financial advisor to Vision and Thoma Bravo. Antares Capital is providing a fully underwritten facility to help finance the transaction, and will be acting as administrative agent. Clearlake professionals Behdad Eghbali, Prashant Mehrotra and Paul Huber will join the Company’s Board of Directors.

Grubhub closes LAbite buy

Grubhub Inc said May 11 that it completed its buy LAbite. Financial terms weren’t announced. LAbite is a restaurant delivery service.

StepStone buys Swiss Capital Alternative Investments

StepStone Group LP said May 12 that it would buy Swiss Capital Alternative Investments AG. Financial terms weren’t announced. Swiss Capital is alternative asset manager with more than US$5 billion of assets under management. StepStone also that said infrastructure and real assets team from KPMG will be joining StepStone. The team will be headed by James O’Leary, who will become head of StepStone’s Infrastructure & Real Assets business. He will be based in Sydney.

PE HUB First Read

In First Read, we start your morning with news that Apple is denying a report it plans to stop selling music downloads, Donald Trump still won't release his tax returns and so maybe that Canadian teen didn't actually find a lost Mayan city.

Vyas named Senior MD of FocusPoint Private Capital

FPCG LLC, d/b/a FocusPoint Private Capital Group, said May 11 that it named Gaurang Vyas a Senior Managing Director. Vyas will also named COO of Landc Investment LLC, the parent of FocusPoint. Vyas was previously an MD of Enhanced Capital.

Anchor Glass pays out second dividend, $148 mln, to stockholders, including KPS

KPS Capital Partners LP said May 11 that it portfolio company Anchor Glass Container Corp completed a second recapitalization that produced a $148 million cash distribution to its stockholders. The first recap, in July 2015, produced a $150 million cash distribution to Anchor Glass stockholders. Anchor Glass makes glass packaging products. Credit Suisse provided financing while Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to Anchor Glass with respect to the recapitalization.

American Capital makes 18x its money with Service Experts sale

American Capital Ltd said May 11 that its portfolio company SEHAC Holdings Corp (Service Experts) has been merged with Enercare Solutions Inc, a subsidiary of Enercare Inc. The deal produced $340.75 million in total cash consideration. American Capital said it received $244 million in proceeds and realized a capital gain of $225 million from the transaction. Plano, Texas-based Service Experts provides sales, installation, maintenance and repair of HVAC systems for the residential and commercial markets. American Capital made 18x its investment with the Service Experts sale and the deal produced a compounded annual rate of return of 184 percent. Moelis & Company LLC acted as financial advisor to Service Experts in connection with the transaction, while Arnold & Porter LLP served as M&A counsel and Osler, Hoskin & Harcourt LLP served as Canadian counsel.

Golden Gate invests in Sard Verbinnen & Co

Golden Gate Capital has made a minority investment in Sard Verbinnen & Co. Financial terms weren’t announced. Sard Verbinnen is a strategic communications firm.

ConnXus raises $5 mln

ConnXus said May 11 it raised $5 million in a Series A round led by Techstars Ventures, Serious Change LP and Impact America Fund. Mason, Ohio-based ConnXus provides a diversity technology platform.

Lariat Partners invests in Willowood USA

Lariat Partners said May 11 it invested in Willowood USA. Financial terms weren’t announced. Roseburg, Oregon-based Willowood makes generic crop protection products.