Archives: Transactions

Transaction Announcement

Race Technologies, an exclusive tech-enabled distribution, supply chain management and technical support partner for high performance Brembo branded braking products and related accessories serving automotive & motorcycle performance and racing communities, has announced its recapitalization by Clavis Capital Partners.

Founded in 1998, Race Technologies has been serving automotive & motorcycle racing, custom build, and enthusiast markets for over 25 years. With facilities on both the west and east coasts, Race Technologies’ fully integrated platform provides supply chain services and high-performance product distribution and support to customers globally.

With Clavis’ backing, Race Technologies will further develop proprietary AI-driven inventory software, support the growth of the Brembo brand in the performance aftermarket, and accelerate Race Technologies position as a leading supply chain and logistics management platform.

“I cannot thank the GLC deal team enough for their continuous support and determination over the past several months in accomplishing such a tremendous outcome for our team. GLC is truly a trusted partner and was our advocate from start to finish in this transaction. Their understanding of founder-owned/entrepreneurial businesses coupled with their ability to navigate a sophisticated transaction process far exceeded my expectations. I truly appreciate their entire team’s efforts.”

Jamie Trimble
Founder & CEO, Race Technologies

Business Services & Diversified Industries Team

GLC’s Business Services and Diversified Industries Team is exclusively focused on advising business services and industrials clients in the Middle Market. Our team’s advisory work includes M&A (sell-side and buy-side), financing/debt advisories, recapitalizations, fairness opinions, and valuations. We excel at working with founders and owner-operators. Our team is passionate about the businesses and people that hire us to advise in their strategic decisions and events.

Transaction Announcement

GLC Advisors & Co., LLC served as the exclusive financial advisor to the Ad Hoc Committee of Convertible Noteholders (“AHC”) in Invacare’s Chapter 11 restructuring. GLC worked closely with Invacare’s management team and advisors to structure a transaction that reduced the Company’s debt by over $200 million and positioned the business for long-term success. Additionally, the AHC backstopped a $75 million equity rights offering to support the business’ operations. Congratulations to all parties involved in the Company’s emergence from Chapter 11 and a successful transaction!

GLC’s transaction team included Soren Reynertson, Abe Han, Alex Geier, Tim Hagamen, Harper Wathen, Anuj Patel, and Alonso Flores-Noel.

GLC Healthcare Coverage Overview

GLC brings a distinctive and dedicated approach to coverage of the Healthcare sector. Our professionals have advised on a range of complex transactions including M&A, debt financing and restructuring & recapitalizations, and our institutional knowledge spans the full spectrum of sub sectors in this constantly evolving industry.

Our clients include corporations, creditors, entrepreneurs, and financial sponsors.

Transaction Announcement

Verus Global equips clients to successfully achieve strategic imperatives by providing tailored programs that develop and align collaborative leaders and teams. Founded in 1990, Verus Global has served 25+ industries across 35+ countries for mid-sized and Fortune 500 clients with proprietary in-house content to facilitate custom programs, workshops, certifications, and coaching utilizing three core programs with both virtual and in-person delivery models.

The combination of Verus Global’s 30 years of experience bringing out the best in individuals and organizations, and iPEC’s industry-leading Coach Training Program, which has certified 25k+ professional coaches worldwide, will allow the businesses to make an ever bigger impact and establish collaboration as a core value in society.

“Relinquishing control of what you’ve dedicated your life to building isn’t easy. GLC proved you can move through this experience with confidence. Because of their skills and integrity, you can trust them fully to deliver the results you imagine.”

Craig Ross
Chief Executive Officer, Verus Global

Business Services & Industrials Team

GLC’s Business Services and Industrials Team is exclusively focused on advising business services and industrials clients in the Middle Market. Our team’s advisory work includes M&A (sell-side and buy-side), financing/debt advisories, recapitalizations, fairness opinions, and valuations. We excel at working with founders and owner-operators. Our team is passionate about the businesses and people that hire us to advise in their strategic decisions and events.

Transaction Announcement

Smartabase, the premier SaaS-based health & human performance analytics platform for elite sports, military, and public safety organizations, announced its acquisition by Teamworks, an enterprise SaaS company serving elite sports and tactical organizations. Teamworks is a portfolio company of Delta-V Capital and General Catalyst.

Smartabase is one of several recent acquisitions by Teamworks in their strategy to become the Operating System for Sports™. “Adding Smartabase as a Teamworks product is transformative to our company, allowing our customers the best tool in the human performance space and expanding our full product suite to more athletes and service members,” said Zach Maurides, Founder and CEO of Teamworks.

Markus Deutsch, Co-Founder and CEO of Smartabase stated, “This was a no-brainer for pro, college and Olympic teams and the National Governing Bodies we serve. Many of our customers use Teamworks today, so having both products together under one umbrella will help them simplify their tech stacks.” For Smartabase military and public safety clients, Deutsch added, “Our tactical users will benefit from additional investments in product development to meet their specific needs and have access to new tools to communicate with and support service members.”

“As an Australian headquartered company embarking on our first capital raise in the US, we knew from the outset that our selection of the right banking partner was critical. We conducted an extensive selection process, during which time GLC demonstrated by far the highest level of knowledge and expertise, and most importantly work ethic and flexibility, compared to the other candidates. We also felt a strong sense of culture fit with the GLC team, a very important factor knowing the journey ahead would not be an easy one given the difficult market conditions. To make matters even more complicated, just as we were preparing to launch the raise process with GLC, we received an unsolicited response to be acquired by a US company. Despite such an unusual twist, GLC was able to immediately adapt and run a parallel process of both capital raising and a possible acquisition. What ensued was an incredibly complex two months of negotiations and due diligence, involving legal and accounting matters on a global scale, given our entities in Australia, the US, UK, and EU. GLC relentlessly quarterbacked the whole process, enduring all matter of working hours, twists and turns as things unfolded. Whilst many observers told us the process would take at least 3-4 months, GLC was able to work with us to get it done in two. Quite simply we could not have done it without the team at GLC.”

Markus Deutsch
Chief Executive Officer, Smartabase

Technology Team

GLC’s Technology Group specializes in providing sell-side M&A advisory, buy-side M&A advisory, minority and majority recapitalizations, debt and equity capital raising, and other corporate finance advisory services. The GLC Technology Group has decades of technology M&A and capital markets experience and has closed transactions with leading technology consolidators and technology focused private equity firms representing billions of dollars in aggregate transaction value for its clients.

Transaction Announcement

Melvin Brewing (“Melvin”) is the largest craft brewer in Wyoming producing over 35,000 barrels annually, offering award winning beers, a world-class destination brewing location in Alpine, WY, and established distribution channels across 27 states. Melvin’s 40+ accolades include winning Small Brewpub and Brewery Group of the Year at the Great American Beer Festival in 2015 and 2017, respectively.

The combination of Melvin Brewing and Roadhouse Brewing Co. (“Roadhouse”), located only 35 miles apart, will produce 50,000 barrels in 2023. Together, with continued demand and a growth capital injection from Roadhouse, the combined breweries anticipate producing 80,000 barrels annually in several years. Immediate upgrades include a state-of-the art rotary canning line and the expansion of the Melvin Tap Room in Alpine, WY.

“GLC was the right choice as they understood the unique value proposition Melvin possessed for the right acquirer that allows the Melvin brand to continue and flourish. GLC ran a vigilant process allowing us to maximize value and find the right partner – one that seeks to retain and grow our staff, values our partnership and shared vision with the town of Alpine, and has the experience and leadership to grow the Melvin brand. In Roadhouse, we believe we found a perfect fit. GLC’s steadfast dedication to Melvin and the process proved invaluable, and I would without exception, recommend GLC for anyone considering a sale.”

Zander Doroski
Chairman of the Board of Directors, Melvin Brewing

Business Services & Industrials Team

GLC’s Business Services and Diversified Industries Team is exclusively focused on advising business services and industrials clients in the Middle Market. Our team’s advisory work includes M&A (sell-side and buy-side), financing/debt advisories, recapitalizations, fairness opinions, and valuations. We excel at working with founders and owner-operators. Our team is passionate about the businesses and people that hire us to advise in their strategic decisions and events.

Transaction Announcement

AccuSystems, a leading provider of document imaging and tracking software that enhances compliance, workflow management, and business process automation for financial institutions, announced its acquisition by Alogent, a portfolio company of Battery Ventures.

The AccuSystems–Alogent combination pairs two principals in the enterprise content and information management (ECM / EIM) market, strengthening the combined company’s commitment to the industry and expanding the automation capabilities available to banks and credit unions of all asset sizes. The integration of Alogent and AccuSystems brings best-in-class digital transformation solutions together under a unified go-to-market that differentiates organizations from their competition and improves institutional loyalty.

“When I decided to explore the strategic options for our company, GLC was my only call. Over the years, the GLC team provided thoughtful guidance on market conditions and walked me through the roadmap of a successful sale process. The team ran a competitive process that exceeded my expectations in terms of buyer interest, due diligence preparation, and valuation outcome. I always felt they had my best interests top of mind and represented me at all times. I would only recommend GLC to anyone looking for a thoughtful, trusted advisor when considering a sale.”

Alan Wooldridge
Founder & CEO, AccuSystems

Business Services & Industrials Team

GLC’s Business Services and Industrials Team is exclusively focused on advising business services and industrials clients in the Middle Market. Our team’s advisory work includes M&A (sell-side and buy-side), financing/debt advisories, recapitalizations, fairness opinions, and valuations. We excel at working with founders and owner-operators. Our team is passionate about the businesses and people that hire us to advise in their strategic decisions and events.