Bridge Growth Partners

Last updated
Bridge Growth Partners
Industry Private equity fund
Founded2013;11 years ago (2013) [1]
Headquarters
New York City
,
United States
Key people
  • Joseph M. Tucci (chairman and co-founder) [2]
  • Alok Singh (CEO and co-founder) [3]
  • Alison Catchpole (Chief Financial Officer and Chief Compliance Officer) [3]
Website www.bridgegrowthpartners.com


Bridge Growth Partners (est. in 2013) is an American private equity fund that invests in technology and financial services companies. [4] Bridge Growth's portfolio holdings include BackOffice Associates, Accedian, Finalsite, Salient CRGT, and Solace Corporation.

Contents

History

In November 2014, Bridge Growth acquired CRGT, a systems integrator based in Reston, Virginia, a deal reportedly valued at $255M. [5] In August 2015, CRGT was merged with Salient to form Salient CRGT. [6]

In April 2016, Bridge Growth Partners acquired Solace Systems, a developer of middleware software and messaging appliances, in a leveraged buyout. [7] [8] 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 Glastonbury, Connecticut. [9]

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. [10] 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. [11] [12]

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References

  1. ↑ "Joe Tucci Named Chairman of Bridge Growth Partners". www.businesswire.com. 2016-10-11. Retrieved 2022-10-05.
  2. ↑ Andy Rosen (2017-08-03). "Joe Tucci's new firm invests in Cape business". The Boston Globe . Retrieved 2018-08-29.
  3. 1 2 "Company Overview of Bridge Growth Partners, LLC". Bloomberg LP. 2018. Retrieved 2018-08-28.
  4. ↑ Dorbian, Iris (30 Mar 2017). "Bridge Growth Partners takes majority stake in Accedian". PE Hub Network. Retrieved 27 Aug 2018.
  5. ↑ Mark Hoover (2014-03-05). "Bridge Growth Partners makes $225M deal for CRGT Inc". Washington Technology . Retrieved 2018-08-28.
  6. ↑ Nick Wakeman (2015-08-11). "Salient, CRGT create merger of equals". Washington Technology . Retrieved 2018-08-28.
  7. ↑ Matthew Monks (2016-04-06). "Buyout Firm Bridge Growth Partners Acquires Solace Systems". Bloomberg News . Retrieved 2018-08-28.
  8. ↑ 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.
  9. ↑ 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.
  10. ↑ 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.
  11. ↑ Kiel Porter (2017-08-03). "Goldman Sachs to Sell BackOffice Associates to Bridge Growth". Bloomberg News . Retrieved 2018-08-28.
  12. ↑ "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)
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