Bridge Growth Partners related stories
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Bridge Growth Partners acquires VC-backed Solace SystemsU.S. private equity firm Bridge Growth Partners has acquired a majority stake in Solace Systems Inc, a Canadian provider of infrastructure messaging technology. No financial terms were released for the deal, which is intended to support Solace's global growth. With the acquisition, Tom Manley, senior principal of Bridge Growth Partners, and Alok Singh, its co-founder and managing principal, will join the company's board of directors. Founded in 2001, Ottawa-based Solace has been venture-backed since 2005, according to Thomson Reuters. Its current investors include Canadian firms Hawthorn Equity Partners, Tandem Expansion and Wesley Clover International.
Bridge Growth Partners acquires majority stake in Solace SystemsBridge Growth Partners LLC, the New York private-equity firm, acquired a majority interest in Solace Systems, the Ottawa provider of infrastructure messaging technology. Terms weren’t disclosed. Tom Manley and Alok Singh, co-founder and managing principal of Bridge Growth Partners, will join Solace Systems’ board.
- Salient Federal merges with CRGT
Salient Federal Solutions Inc. has agreed to merge with CRGT Inc. to form Salient CRGT. Financial terms weren’t announced. Salient, a Frotenac portfolio company, provides IT and engineering services to the intelligence, defense, homeland security, and federal markets. CRGT, which is backed by Bridge Growth Partners, is an IT services provider for the Federal Government. Evercore and Credit Suisse served as Bridge Growth’s financial advisors. Wells Fargo Securities and Houlihan Lokey advised Frontenac and Salient.
Bridge Growth debut fund nearly one-third of way toward $1 bln targetBridge Growth Partners, the New York City-based private equity firm founded two years ago by veterans of Vestar Capital Partners and New Mountain Capital, has collected $310.28 million for its debut buyout fund, according to regulatory filings.
- Bridge Growth appoints Estee Lauder's Langhammer to strategic advisory board
Bridge Growth Partners LLC has added Fred H. Langhammer to its strategic advisory board. Langhammer is the chairman of global affairs for The Estee Lauder Companies.
- Bridge Growth completes CRGT acquisition
Bridge Growth Partners has closed its previously announced buy of CRGT from Veritas Capital. No financial terms were disclosed. Based in Reston, Virginia, CRGT is a provider of custom software development and data analytics to federal government agencies.
- Bridge Growth Partners taps Griffiths for tech advisory board
Bridge Growth Partners LLC has appointed Peter Griffiths to its technology advisory board. Griffiths is the former executive vice president of products at CA Technologies.
- Veritas Capital to sell CRGT to Bridge Growth
Bridge Growth Partners has agreed to buy CRGT from Veritas Capital. No financial terms were disclosed for the deal, which is expected to close by the end of the year. Wells Fargo and Stifel Nicolaus provided financial advice to CRGT on the transaction while Credit Suisse advised Bridge Growth. Also, Kevin Parker of Bridge Growth will become the chairman of CRGT's board of directors. Based in Reston, Virginia, CRGT is a provider of custom software development and data analytics to federal government agencies.
- Bridge Growth holds first close on $1 bln inaugural fund
Bridge Growth Partners LLC has held a first closing on about $250 million toward its $1 billion target on its inaugural buyout fund, as the firm founded by veterans of Vestar Capital Partners and New Mountain Capital gains traction with some recent additions to its team, according to a source.