Growth Capital Investments in 2016

New York-based private equity firm Goode Partners has made a strategic growth investment in STONEFIRE Grill, a Southern California fast-casual restaurant chain headquartered in Westlake Village, California. The capital will be used to accelerate unit growth within its core Southern California market and expand into new geographic territories.

Providence Strategic Growth (PSG), the growth equity affiliate of Providence Equity Partners, has acquired Untangle Inc. and provided growth capital to accelerate the company's product, channel, and go-to-market initiatives in the unified threat management/next-generation firewall market. Untangle, headquartered in San Jose, California, will be led by newly appointed CEO Scott Devens as it pursues market share expansion in the SMB and below-enterprise segments.

Sea Watch International completed a major investment and partnership with Look's Gourmet Food Company, Inc., d/b/a Bar Harbor Foods, acquiring a stake while leaving Michael Cote in his role. The transaction brings Sea Watch additional production capabilities and expands its presence into all-natural, sustainable retail grocery distribution for shelf-stable seafood products.

Goode Partners, a New York-based private equity firm, made a strategic growth investment in Silver Diner to fund geographic expansion and accelerate the restaurant group's growth. Silver Diner, headquartered in Rockville, Maryland, operates roughly 15 locations across New Jersey, Maryland and Virginia and will partner with founders Robert Giaimo and Ype Von Hengst to expand its footprint and menu offerings.

TZP Growth Partners I, L.P. (part of TZP Group) completed a strategic growth investment in Del Mar Recovery Solutions, a Carlsbad, California-based provider of automotive asset recovery and repossession management services. The capital will be used to invest in technology and systems, recruit talent, and expand service offerings while Del Mar’s founder/management continue to operate the business.

JEB, Inc. has completed a growth investment in Computer Power & Service, Inc. (CPSI), the Pacific Northwest's largest independent provider of critical power systems for data centers. The investment will provide CPSI with capital and resources to scale its design, installation, 24/7 monitoring and service capabilities and pursue geographic expansion.

Cendyn, a Boca Raton–based provider of cloud-based software for the travel and hospitality industry, has received a growth equity investment from technology-focused private equity firm Accel-KKR. The partnership will fund accelerated investment in Cendyn’s product portfolio, new product innovation, and market expansion; terms were not disclosed.

PWP Growth Equity, a private equity fund managed by Perella Weinberg Partners, made a growth equity investment in Black Bear Diner to support continued expansion. The investment will fund investments in people, systems and new restaurant openings while the existing executive team, including co-founder Bruce Dean, remains in place; financial terms were not disclosed.

The Riverside Company has entered a strategic investment partnership with Kasasa (formerly Kasasa by BancVue), taking a minority/partnership stake while Kasasa’s leadership and management remain significant owners. Riverside will support Kasasa’s continued growth and expansion as the fintech and marketing services provider rebrands to Kasasa and seeks to scale its products for community banks and credit unions.