Graphite Capital Acquires Ten10 from Livingbridge

Toptal Acquires Graphite

January 7, 2026

Staffing & HR

Toptal has acquired Graphite and the Graphite brand, gaining access to an on-demand network of more than 12,000 rigorously vetted independent experts across finance, accounting, corporate strategy, marketing, and other functions. The acquisition expands Toptal’s talent and consulting capabilities and integrates Graphite’s high-caliber community into Toptal’s global Talent Network; financial terms were not disclosed and integration is underway.

Graphite Capital Acquires Digital Space from Horizon Capital

October 10, 2022

IT Services

UK mid-market private equity firm Graphite Capital has agreed to acquire Digital Space, a secure, connected cloud managed service provider, from Horizon Capital. Digital Space is headquartered in Newark-on-Trent, Nottinghamshire and employs approximately 350 people; terms were not disclosed and the transaction is subject to regulatory approval.

Bow River Capital Makes Strategic Investment in One10

June 13, 2022

Marketing & Advertising

Denver-based private equity firm Bow River Capital has completed a strategic growth investment in One10 LLC, a Minneapolis-based provider of incentives, recognition, marketing services and events. The capital will support One10's expansion of its proprietary incentive and recognition technology, broader service offerings and global growth initiatives.

Livingbridge Acquires CitNOW Group from Tenzing

July 19, 2022

Software

Livingbridge has invested in CitNOW Group, a UK-based provider of front-office software for automotive dealerships, in a deal that sees Tenzing exit while materially reinvesting alongside the new investor. Tenzing generated a 9.6x return on its investment and a 74% IRR; Livingbridge said the investment will accelerate CitNOW's product roll-out, acquisitive growth in the UK and Europe, and further technology development.

Graphite Capital and Babble Management Buy Babble from LDC for £90m

September 1, 2023

IT Services

Graphite Capital and Babble’s management completed a management buyout of Babble in a £90 million transaction in which LDC exited (retaining a minority stake). Babble is a UK-based provider of unified communications, cloud and cybersecurity services and will continue pursuing a buy-and-build strategy after the transaction.

Tenex Capital Management Invests in Black Diamond Networks

December 9, 2021

Staffing & HR

Tenex Capital Management completed an investment in Black Diamond Networks, a specialized professional staffing firm focused on life sciences and engineering/technology talent. Northstar Capital provided junior capital (debt and an equity co-investment) to help finance the transaction, which was effective November 30, 2021.