New Platform Investments
We had an active year of new deal-making and are proud to welcome the following companies to the Sagemount portfolio:
Minority Equity financing led by Sagemount. Accellion provides enterprise content firewall solutions that consolidate, control, and secure sensitive third party communications.
Minority Equity financing led by Sagemount. Corcentric provides spend management and revenue management software and services.
Debt financing led by Sagemount. Membersy designs, develops, markets and administers custom in-house membership plans for dental service organizations (DSOs) nationwide.
Debt financing led by Sagemount. Congruity 360 provides managed technology services focused on third-party maintenance for storage equipment along with products and services focused on information governance and data management.
Debt financing led by Sagemount. Dentive is a dental service organization (DSO) platform focused on providing technology-enabled non-clinical support to help already successful dentists further scale their success without sacrificing quality of care or quality of life.
Minority Equity financing led by Sagemount. Scorpion provides expert marketing, technology, and creative branding for companies in the legal, franchise, and home services sectors.
New Add-On Investments
Several of our companies made acquisitions over the course of the year, including:
- Align: Align is an insurance holding company that was founded in 2003 and owns and operates leading specialist program underwriting managers. Sagemount invested as a minority investor in 2018. In 2020, Align acquired National Lloyds Corporation, a specialty property insurer primarily serving owners of lower value homes and mobile homes.
- Buyers Edge Platform: Buyers Edge Platform is a group purchasing organization (GPO) for the food services sector. Sagemount invested as a minority investor in 2019. In 2020, Buyers Edge Platform acquired Prime Services (Regional GPO, mostly in Buffalo, New York that serves nursing homes), Produce Alliance (Produce management business in the United States, Canada and Caribbean), and BI Worldwide – FSR (Loyalty program that rewards foodservice operators for purchasing quality products and services from leading foodservice industry brands.)
- Corcentric: Corcentric provides B2B spend management software and services, including AP and AR software, payments and supply chain finance. A key reason Corcentric chose Sagemount was its knowledge of B2B payments, and Sagemount helped them source, negotiate, diligence, finance and close a transformative acquisition (to be announced) in that space in Q4 2020.
- GPS Insight: GPS Insight is a leading provider of SaaS-based GPS fleet intelligence software. Sagemount invested as a minority investor in 2018. In 2020, GPS Insight acquired ServiceBridge, a provider of cloud-based field service management software and payments functionality for residential services businesses
- Steele: Steele is a provider of a full suite of ethics and compliance solutions to enterprise clients. Sagemount acquired controlling stake in the business in 2016. In 2020, Steele acquired Info4c, a compliance data-as-a-service provider based in Zurich, Switzerland with a focus on sanctions, watchlist, and politically exposed persons data
Recent Exits
Open Lending provides automated lending services to financial institutions. In June 2020, Open Lending went public via a SPAC. The company now trades on the NASDAQ under the ticker LPRO.
Options is a provider of cloud-enabled managed services to financial institutions. In January 2020, the company was acquired by a private equity firm.
DiscoverOrg, which merged with ZoomInfo, sells access to its database of information about people and companies to sales, marketing, and recruiting professionals. In June 2020, the company went public via an IPO.
ASI is a provider of software used by not-for-profit associations and membership organizations to track membership activity, collect dues, drive fundraising efforts, and communicate with members. In September 2020, Sagemount exited its position in the company.
Information Builders is a provider of data and analytics software. In October 2020, TIBCO Software announced that it had entered into an agreement to acquire Information Builders.
Enprecis is a provider of customer experience management (CEM) software to automotive companies. In December 2020, the company was acquired by QuestionPro.
Recent Press
Michelle Riley featured in Buyouts’ list of “10 Rock Stars Who are the Faces of Private Equity’s Future”
New Hires
Six new individuals joined Sagemount in 2020, including new hires in our equity, credit, and business development groups. We’re thrilled to welcome each of them to the Sagemount family.
Scott Simpson
Scott was previously at Brightwood Capital Advisors as a partner and the head of originations. Previously in his career he was with Citi and Credit Suisse. Scott joins Sagemount as a partner and the Head of Credit.
Zach Month
Zach was previously with Credit Suisse and focuses on sourcing and underwriting equity investments.
Harrison Boyajian
Harrison was previously with Barclays and focuses on sourcing and underwriting equity investments.
Steve Griffin
Steve was previously with Post Road and focuses on sourcing and underwriting debt investments.
Nihar Sheth
Nihar was previously with Lazard and focuses on sourcing and underwriting equity investments.
Juno Cheng
Juno was previously with Mothership, NEXT Trucking, and Latham & Watkins and focuses on operations support for sourcing equity and debt investments.
New ESG and Charitable Initiatives
In the face of the COVID-19 pandemic, we are particularly proud of the $3.6 million “Bregal Helps” initiative established with the help of Bregal Sagemount employees in partnership with the COFRA Foundation. We have already committed over 60% of the fund and supported 23 charitable initiatives helping to alleviate the strain placed on the most vulnerable close to our own offices and portfolio company operations.