Bridge Growth Partners

Bridge Growth Partners
Industry Private equity fund
Headquarters New York City, United States
Key people
 Joseph M. Tucci, chairman[1]
Website www.bridgegrowthpartners.com

Bridge Growth Partners (est. in 2013) is an American private equity fund that invests in technology and financial services companies.[2] Bridge Growth's portfolio holdings include BackOffice Associates, Accedian, Finalsite, Salient CRGT, and Solace Corporation.

Investments

In November 2014, Bridge Growth acquired CRGT, a systems integrator based in Reston, Virginia, a deal reportedly valued at $255M.[3] In August 2015, CRGT was merged with Salient to form Salient CRGT.[4]

In April 2016, Bridge Growth Partners acquired Solace Systems, a developer of middleware software and messaging appliances, in a leveraged buyout.[5][6] The company would subsequently be renamed Solace Corporation. In September 2016, the firm invested in Finalsite, a provider of online learning and communications products, based in Kanata, Ontario.[7]

In March 2017, it announced a majority equity investment in Accedian, based in Montreal, Canada, which develops service assurance and performance monitoring solutions for communications service providers.[8] In August 2017, Bridge Growth Partners announced the purchase of Goldman Sach's stake in BackOffice Associates, a data services firm. After the deal Bridge Growth became the majority stakeholder with Goldman Sachs, SAP, and management team members holding the remaining equity.[9][10]

Key partners

References

  1. ↑ Andy Rosen (2017-08-03). "Joe Tucci's new firm invests in Cape business". The Boston Globe. Retrieved 2018-08-29.
  2. ↑ Dorbian, Iris (30 Mar 2017). "Bridge Growth Partners takes majority stake in Accedian". PE Hub Network. Retrieved 27 Aug 2018.
  3. ↑ Mark Hoover (2014-03-05). "Bridge Growth Partners makes $225M deal for CRGT Inc". Washington Technology. Retrieved 2018-08-28.
  4. ↑ Nick Wakeman (2015-08-11). "Salient, CRGT create merger of equals". Washington Technology. Retrieved 2018-08-28.
  5. ↑ Matthew Monks (2016-04-06). "Buyout Firm Bridge Growth Partners Acquires Solace Systems". Bloomberg News. Retrieved 2018-08-28.
  6. ↑ James Bagnall (2016-04-07). "'An excellent time to step on the gas': Majority stake bought in Ottawa tech 'jewel' Solace Systems". Ottawa Citizen. Retrieved 2018-08-28.
  7. ↑ Cumming, Chris (2016-08-24). "Spectrum Cleared to Sell Stake in Finalsite to Bridge Growth Partners". Wall Street Journal. ISSN 0099-9660. Retrieved 2018-08-28.
  8. ↑ Emily Jackson (2017-03-30). "Montreal network monitoring company Accedian lands US$100-million investment from U.S. firm". Financial Post. Retrieved 2018-08-27.
  9. ↑ Kiel Porter (2017-08-03). "Goldman Sachs to Sell BackOffice Associates to Bridge Growth". Bloomberg News. Retrieved 2018-08-28.
  10. ↑ "Bridge Growth Partners Takes Majority Stake in BackOffice Associates". The Wall Street Journal. 2017-08-03. ISSN 0099-9660. Retrieved 2018-08-27. (subscription required)
  11. 1 2 3 4 "Company Overview of Bridge Growth Partners, LLC". Bloomberg LP. 2018. Retrieved 2018-08-28.
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