|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
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
Delancey Street Partners: financial advisor to Valiant
Pepper Hamilton: legal counsel to PeakEquity
Bruce Fenton*Fox Rothschild: legal counsel to Valiant
Daniel Da Luz
*ACG Philadelphia Member