Five Points Capital Leads Recapitalization of GrammaTech

Battery Ventures Acquires GrammaTech's Software Products Division to Form CodeSecure

September 5, 2023

Cybersecurity

Battery Ventures has acquired GrammaTech's software products division, including the CodeSonar and CodeSentry product lines, and established the business as a new independent company, CodeSecure, Inc., headquartered in Bethesda, Maryland. The investment is intended to drive growth of the application security testing product portfolio and enable CodeSecure to expand across end markets such as automotive, aerospace & defense and medical devices while GrammaTech retains its cybersecurity research and services business.

Gryphon Investors Completes Majority Growth Recapitalization of Fortreum

January 7, 2026

Cybersecurity

Gryphon Investors has completed a majority growth recapitalization of Fortreum, a Lansdowne, Virginia-based cybersecurity services firm specializing in compliance, audit, and technical testing including FedRAMP, CMMC, ISO, PCI, and SOC. The investment will fund expansion of Fortreum's offerings and accelerate development and adoption of its XRAMP continuous validation platform and AI-enabled capabilities; company founders will retain a significant equity stake. Financial terms were not disclosed.

Five Points Capital Recapitalizes TransGo

April 3, 2017

Automotive

Five Points Capital completed a recapitalization of TransGo, a Los Angeles–area specialty manufacturer of automotive transmission valve body parts, with Cascadia Capital acting as exclusive financial advisor to TransGo. A significant portion of the proceeds were distributed to selected charities and existing employees to honor the philanthropic legacy of TransGo’s late founder, Dr. Gilbert W. Younger.

Gryphon Investors Recapitalizes Techmer PM

September 7, 2022

Manufacturing

Gryphon Investors made a majority investment in Techmer PM, a Clinton, Tennessee-based designer and producer of engineered materials and color/additive masterbatch solutions. SK Capital Partners and Techmer founder/management will remain significant investors; the recapitalization is intended to support Techmer's continued growth and capability expansion (terms were not disclosed).

WayPoint Capital Partners and GearBox Capital Lead Recapitalization of Greenshades Software

October 4, 2022

Cloud & SaaS

WayPoint Capital Partners and GearBox Capital led an investor group that recapitalized Greenshades Software, with SFW Capital Partners retaining a minority stake. Greenshades, headquartered in Jacksonville, Florida, provides payroll, payroll tax, and HCM software for mid-market employers and will pursue continued product and go-to-market growth under the new ownership group. Terms were not disclosed.

Gryphon Investors Majority Growth Recapitalizes phData

December 16, 2024

Data & Analytics

Gryphon Investors completed a majority growth recapitalization of phData to support the company's continued expansion of its data engineering and AI solutions. phData's management, including CEO Ryan Bosshart, retains a significant equity stake; financial terms were not disclosed.