Q3 2016 DealWire
In This Issue
Quarterly Deal Analysis
Philadelphia metro area is no exception when it comes to the slowing buyout cycle
Featured Deal
PeakEquity Partners invests in Valiant Solutions through a majority recap
Should Have Been There
Over 1,200 leading dealmakers at the 14th Annual M&A East
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22 Member Firms Close Q3 Deals
Ballard Spahr LLP
Blank Rome LLP
Boenning & Scattergood Inc.
CMF Associates, LLC
Cozen O'Connor
Drinker Biddle
Duane Morris LLP
Fairmount Partners
Griffin Financial Group LLC
Inverness Graham
Janney Montgomery Scott
Klehr Harrison Harvey Branzburg LLP
LLR Partners
Milestone Partners
Morgan, Lewis & Bockius
Phoenix Capital Resources
Pine Hill Valuation Services
RLS Associates
Royer Cooper Cohen Braunfeld LLC
SSG Capital Advisors, LLC
Stradley Ronon Stevens & Young, LLP
White and Williams LLP
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Calendar
New Members
DJ Andrzejewski
Peak Equity Partners

Joseph Bedwick
Cozen O'Connor

Anthony Caringi
Milestone Partners

Ken Lacy
DealSource Partners

Kevin Leininger
IntegriChain

Robert Metzfield
Wells Fargo Advisors, LLC

Richard Wileczek
Colibri Group

Richard Zimmerman
TD  Bank

Jeffrey Zudeck
Marcum LLP

Upcoming Events
•  ACG Global Calendar

• 
October 27, 2016
Fall Networking Reception
benefiting Alex's Lemonade Stand
Offices of Reed Smith
Philadelphia, PA

• 
October 28, 2016
• 
November 17, 2016
Breakfast Briefing: Operating Partners
Marriott Conshohocken
Gladwyne, PA

•  January 10, 2017
Save the Date!

Member Only New Year Reception
Del Frisco's
Philadelphia, PA

Featured Deal
PeakEquity Partners invests in Valiant Solutions through a majority recap

Interview by Brandon Saylor, CPA-Partner, The Atlantic Group (ACG Philadelphia Marketing Committee Member)

Based on a discussion with Pat Dolan, Founder & Managing Director, Delancey Street Partners (ACG Philadelphia Board Member)

5 ACG Philadelphia members from 4 different firms were involved in deal

Deal Synopsis

Valiant Solutions, Inc., headquartered in Woodbury, NY, is a leading provider of cloud-based payroll and human capital management (HCM) software solutions with a state-of-the-art Software-as-a-Service (SaaS) technology platform. Led by Anthony Petraco, CEO, Valiant made a significant investment in the development of its NextGen SaaS platform for payroll and HCM applications.  The technology is ideally suited for the hourly workforce across various industry verticals. Subsequent to the investment in the NextGen technology platform, Valiant was looking for the right financial partner to help accelerate the significant growth opportunities available to the company.
 
Value of Relationships
As Valiant set about the process of identifying an investment banker, Anthony Petraco reached out to one of his trusted relationships, Bill Filip, a Managing Director at Delancey Street Partners. Bill’s relationship with Valiant had been developed over the years as Bill manages Delancey’s business services and technology vertical focus and has extensive HCM industry expertise. This connection made the selection of Delancey as Valiant’s investment banker and financial advisor a natural decision.
 
The Right Partner
Delancey worked with Valiant’s leadership to develop a narrow and targeted list of potential investors.  The challenge was unique with the need to find the right capital partner to take the company and its technology platform to the next level. They determined that a majority recapitalization, including a growth equity financing, would be the best solution for an optimal outcome and would align the interests of Valiant’s team with those of the new investors.  After careful consideration of the short list of potential investors, Valiant determined Radnor-based PeakEquity Partners would be the ideal financial partner based on a number of factors:

  • Peak distinguished themselves early in the process through their knowledge and expertise working with software companies.
  • The Peak team has a reputation for supporting technology firms and providing the resources needed to execute on aggressive growth strategies.
  • Peak made a strong connection with Valiant’s management team and understood the long-term value creation opportunity.


This combination resulted in a successful transaction and both Valiant and Peak are excited to execute on the growth opportunities in front of the company.
 
ACG Member Firms
There were several Philadelphia-area firms involved in this transaction.  They include:

PeakEquity Partners: investor in Valiant

Greg Case
Paul Winn
Ric Andersen
DJ Andrzejewski*

Delancey Street Partners: financial advisor to Valiant

Bill Filip
Pat Dolan*
Matt Dougherty

Pepper Hamilton: legal counsel to PeakEquity

Bruce Fenton*
Scott Jones
Joe Kadlec*
Daniel Da Luz

Fox Rothschild: legal counsel to Valiant

Andy Santana
Tyler Smith*


*ACG Philadelphia Member
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