IVCA Newsletter – January 17, 2024

Association News

IVCA Feature: Updates and What’s Coming Up for Office Environments in 2024

Legislative News

IVCA Provides Updates for State Legislative Issues – 01/17/2024


IVCA Events

June 24, 2024 – IVCA Invitational hosted by IVCA Promoting Diversity Foundation

October 24, 2024 –IVCA CFO Summit for VC and PE Professionals

December 9, 2024 – IVCA Annual Awards Dinner


Other Events of Interest

None listed but please check back!


Industry News

CORE Industrial Partners Announces New Aerospace Platform With An Investment in Aviation Concepts

Patriot Capital Supports Continued Growth of Mod Op

Victory Park Capital and Zip expand partnership with new US$225 million credit facility

Wind Point Partners Acquires MOREgroup

Ropes & Gray Advises on IRIS Sale and Reinvestment, Valuing Business at £3.15 Billion – One of Europe’s Largest Software Buyouts of 2023

Sidley Represents RoundTable Healthcare Partners’ Portfolio Company TIDI Products in Sale to TJC

Roundtable Healthcare Partners Announces An Investment In EHOB, Partnering With Owner-founder, Family And Management

Runway Growth Capital Provides $40 Million Growth Investment to Blueshift

Monroe Capital Supports TJM Capital Partners’ InCompass™ Add-on Acquisitions

Ropes & Gray Represents American Industrial Partners Fund VIII in Take-Private Agreement with Global Drilling Services Leader Boart Longyear Group

Sidley Represents Castle Creek Capital in Its Investment in FirstSun’s Acquisition of HomeStreet

ParkerGale Port Co Biscom Acquired by Concord Technologies

The Edgewater Funds Announces Elevate Patient Financial Solution’s acquisition of Professional Medical Services to expand RCM Offering

Thoma Bravo Port Co Calabrio Acquires AI and Bot Analytics Company Wysdom to Revolutionize the Customer Experience

Ropes & Gray Advises Proterial in Sale of Waupaca Foundry

Sidley Represents EnCap and Triple Oak Power in Sale of Wind Platform to Energy Capital Partners

Frontenac Completes the Sale of Motion Solutions to Novanta (Nasdaq: NOVT)

RoundTable Healthcare Partners Completes Sale of TIDI Products to TJC

Ropes & Gray Advises Golden Gate Capital on Recapitalization of Virginia Green

Sidley Advises Stonepeak on Its Agreement With the AA and the AA’s Majority Shareholders, TowerBrook Capital Partners, and Warburg Pincus

Suzanne Yoon, Kinzie Capital Partners, recognized as a Who’s Who in 2024 by Crain’s Chicago Business

Svoboda Capital Partners LLC Announces Two Promotions

Ropes & Gray Advises on Sale of GfK European Consumer Panel Services Business (CPS GfK) to YouGov

U.S. Corporate Transparency Act: Guide For Private Fund Sponsors

Australia’s Digital Platform Regulators Release Working Papers on Risks and Harms Posed by Algorithms and Large Language Models


Job Postings

Please view the full details for each Job Posting listed below, on our website HERE. Once at Job Postings please scroll down the pages to view the jobs. They are listed chronologically as received, most current first.

NEW! Pfingsten Partners Associate to Corporate Finance team

Company Description:

Pfingsten is a Chicago-based, operationally-driven private equity firm that invests in manufacturing, distribution and business services companies with revenue between $20 to $150 million and EBITDA between $3 to $12 million.  Since 1989, Pfingsten has completed 55 platform transactions and 109 add-on acquisitions. For more information on Pfingsten, please visit www.pfingsten.com.

Position Description:

Associates interact directly with all members of the firm and our portfolio companies and they will have a high degree of freedom to make a meaningful contribution to our firm’s future.  There is no set duration for Pfingsten’s Associate position. The strongest performers will have the opportunity to grow into additional responsibility with the firm. 

Responsibilities will include, but are not limited to:

  • Participate in all functional areas of the transaction process (initial screening, due diligence, portfolio management, add-on acquisitions and divestitures)
  • Support the due diligence process on new investments (internal analysis and modeling plus direct interaction with third party professional service and financing providers)
  • Develop industry sector analysis to originate new, direct investments
  • Support portfolio companies (direct interaction with portfolio company executives and Pfingsten’s operations team)
  • Assist in business development and other marketing efforts
  • Other administrative support, as needed, including investor reporting activities

Desired Qualifications:

  • 2+ years of investment banking experience or 3+ years of transaction advisory or consulting experience
  • Demonstrated leadership ability and interpersonal skills
  • Strong written and oral communication skills
  • Excellent analytical and organization skills
  • Advanced proficiency in all Microsoft products (Excel, Word, PowerPoint, etc.)
  • Self-motivated individual with a strong work ethic and ability to work in a small team environment
  • Attention to detail
  • High integrity
  • Bachelor’s degree in Finance or Accounting

Start Date:

Immediate or Q1 2024

Contact: 

Phil Bronsteatter pbronsteatter@pfingsten.com

Sandbox Industries – Associate Position

Sandbox Industries invests in innovation to drive lasting change in human livelihood by fostering innovation across healthcare, insurance, and sustainability. We incorporate the best of traditional and corporate investing firms. Approximately 90% of the capital we manage is from strategic limited partners – large industry incumbents who are eager to embrace the innovations and technologies disrupting their businesses through a market-based approach. We partner with entrepreneurs who are seeking to make an impact on areas of high strategic value to corporate organizations, as well as with these organizations themselves. The primary medium for this work is venture capital.

In line with our mission, Sandbox Industries has served as the exclusive provider of investment management services to the Blue Venture Funds for over a decade. The Blue Venture Fund, a unique collaboration among Blue Cross Blue Shield companies, the Blue Cross Blue Shield Association, and Sandbox Industries, is owned, governed and capitalized by participating Blue Plans and affiliates. The Blue Venture Fund invests in venture and growth opportunities within healthcare technology, healthcare services and clinical sciences.

Associate Position

We are seeking passionate and self-motivated people to join our healthcare investment team to support all aspects of the investment process. Our team is open, thoughtful, and collaborative.

Responsibilities:

  • Perform financial modeling and analysis of growth and venture stage companies
  • Conduct investment due diligence on companies of all stages, seed through growth
  •  Record all deal information for reporting and trend analysis
  •  Research and report on industry trends and potential new business models
  •  Support Investment Committee presentations and manage relationships across the Blue plan ecosystem and broader healthcare industry
  • Assist in all aspects of portfolio company management
  • Source potential investment opportunities

Experience:

  • 2-5 years’ experience
  • Financial modeling and analysis experience required
  • Healthcare finance, strategy or operating experience strongly preferred

Skills:

  • Strong communication (oral and written) and presentation skills
  • Excellent financial modeling, valuation, and analytical skills
  • Intellectual curiosity and ability to ask hard questions
  • Demonstrated interpersonal and relationship-building skills
  • Track record of good judgment and ability to navigate ambiguity
  • Ability to prioritize and manage multiple initiatives in a fast-paced, entrepreneurial environment

Location:

  • Chicago, Illinois
  • Investment team members are expected to work in Sandbox’s office on Monday, Tuesday and

Wednesday of each week

Please contact hctrecruiting@sandboxindustries.com if you are interested.

Sandbox is an Equal Opportunity Employer and considers applicants for employment without regard to race, color, religion, sex, orientation, national origin, age, disability, genetics or any other basis forbidden under federal, state, or local law.

Svoboda Capital Partners – Private Equity Associate

Svoboda Capital Partners, LLC (“SCP”) was founded in 1998 to invest in and help build business services and value-added distribution companies. SCP invests in leveraged buyouts, recapitalizations, and growth equity opportunities. SCP targets middle market growth companies which typically have between $10 million to $100 million in revenue and $3 million to $15 million in EBITDA.

Job Description:

Assist in identifying, evaluating, and executing potential acquisitions through due diligence, market research and financial modeling. Assist in the development and ongoing management of portfolio companies, including portfolio company and investor financial reporting. Assist in initiating and maintaining relationships with intermediaries and other investment sources.

The position requires direct interaction with the principals of SCP and top management of portfolio companies and offers a highly challenging and diverse experience. Position will be originally structured for a two-year term, but the opportunity for a third year may exist.

Contacts:

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