IVCA Newsletter – March 27, 2024
Association News
IVCA Feature: New Member Profile of Alter Domus
Register today for the 2024 IVCA Spring Luncheon “State of the Debt Market” on May 8, 2024!
You can still secure your sponsorship for the 2024 IVCA Invitational!
Legislative News
IVCA Provides Updates for State Legislative Issues – 03/27/2024
IVCA Events
May 8, 2024 – 2024 IVCA Spring Luncheon – Sponsored by Baker Tilly and Ropes & Gray
June 24, 2024 – IVCA Invitational hosted by IVCA Promoting Diversity Foundation
October 24, 2024 –IVCA CFO Summit for VC and PE Professionals sponsored by Plante Moran
December 9, 2024 – IVCA Annual Awards Dinner presented by Kirkland & Ellis, LLP
Other Events of Interest
April 16-17, 2024 – InvestMidwest 2024
April 29-May 1, 2024 – DealMAX 2024
May 21-22, 2024 – INVEST Healthcare Investment Conference 2024
October 10, 2024 – MVCA 17th Annual Awards Celebration
October 29, 2024—October 30, 2024 – 3 Rivers Venture Fair
Industry News
Wind Point Partners Closes Fund X At $2.3 Billion Hard Cap
GTCR Completes Acquisition of Cloudbreak Health
Fuel Me Raises $18 Million Series A Round; HPA and Pritzker Group Venture Capital Participate
Sidley Represents Great Hill Partners on Strategic Majority Investment
Ropes & Gray Advises Gauge Capital on $1.4 Billion Fund Close
Benford Capital Partners Exits Alpha Safety
Wynnchurch Capital Exits LPW Group
Ropes & Gray Represents Starrett in Merger Agreement with MiddleGround Capital
Sidley Represents ZMC in Its US$186 Million Sale of 9 Story Media Group to Scholastic
Concentric Equity Partners Port Co RapidFire Safety & Security Acquires Texas Star Fire Systems
High Street Capital Portfolio Company Tramec Acquires Johnson Welded Products
Pritzker Private Capital Port Co ProAmpac Acquires UP Paper
Sidley Represents Thrivent in US$400 Million Collateralized Fund Obligation, Closed December 2023
Ropes & Gray Represents Access Information Management in Acquisition of Triyam
Joseph Gordon Joins Water Street; Focused on Medical Products
Kicking Off Our 7wireVentures MBA Summer Internship for 2024!
BDO Insights: Pillar Two: Impacts and Implications for Private Equity
Ropes & Gray Advises Athyrium Capital in Agreement to Sell Alcresta Therapeutics
Sidley Represents Triyam in Its Acquisition by Access
EU Formally Adopts World’s First AI Law
Key Things to Know About the New York LLC Transparency Act
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! Onward Capital – Vice President position
About the Firm:
Onward Capital is a Chicago-based private equity firm focused on investing in and growing lower middle-market industrial businesses. Onward targets manufacturing and value-added distribution companies, typically with revenues between $20 million and $125 million. The Onward Partners have completed 60 private equity transactions and invested $600 million dollars of capital in the sector. For more information on Onward Capital, please visit www.onwardcapllc.com. More about Onward Capital HERE!
About the Role
The Vice President will have the unique opportunity to become the first employee of an established independent sponsor. They will help to shape the firm from the ground up, taking a leading role in sourcing, executing, and managing investments. The successful candidate will be comfortable working on a small team in a fast-paced and entrepreneurial environment. They will have constant interaction with senior members of the firm as well as the senior management of our portfolio companies. The Vice President will be given significant responsibility including:
- Evaluation of potential investments
- Analysis and support for portfolio company management
- Supporting senior investment team members in all aspects of transaction execution
- Designing, structuring, and carrying out due diligence analyses, including industry research, market and competitive assessments, financial modeling and analysis
- Composing deal related documents and presentation materials
- Participating in meetings with management teams, intermediaries, and financing sources
- Active board member or board observer roles
- Involvement in a range of firm-building activities, including business development, lender management, recruiting, training, etc.
More detail about this position is available on our website HERE!
Contact: Laura Lester, llester@onwardcapllc.com
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.
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.
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:
- David Rubin
- P: (312) 267-8756
- E-Mail: drubin@svoco.com
- Will King
- P: (312) 267-8744
- E-Mail: wking@svoco.com