Author: Jennifer Stark

GLC Advisors Transaction Closing Announcement

AVI Roofing, Inc. (“AVI”), a provider of roofing and repair & maintenance services based in Denver, Colorado, announced its acquisition by Salt Creek Capital, a San Francisco-based private equity firm.

Founded in 1998, AVI completes 5,000+ projects annually across the Front Range of Colorado and is a leading provider of complete roofing services for residential, commercial, and HOA and property management end markets.

AVI offers a comprehensive portfolio of roofing services for steep-slope and low-slope environments, including the installation of roof systems, gutter systems, solar, waterproofing, and maintenance and services.

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“When looking for an investment banking partner, GLC Advisors rose to the top in my selection process given their proven knowledge and experience in the industry – along with their high touch approach. After going through this process, I am deeply grateful and even more impressed with the GLC team’s unwavering commitment to me, my management team, and staff in identifying and transacting with the ideal partner to set AVI up for future success and growth.”

Pete Kruse
Founder, President & CEO, AVI Roofing

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GLC’s Business Services & Industrials Team  GLC’s Business Services & Industrials Team is exclusively focused on advising business services and industrials clients in the Middle Market. Our team’s advisory work includes M&A (sell-side and buy-side), financing/debt advisories, recapitalizations, fairness opinions, and valuations. We excel at working with founders and owner-operators. Our team is passionate about the businesses and people that hire us to advise in their strategic decisions and events. Michael Richter  /  Managing Director Michael.Richter@glca.com   /  303.479.3844 Adam Fiedor  /  Managing Director Adam.Fiedor@glca.com  /  303.479.3845 Michael Fleschner  /  Director Michael.Fleschner@glca.com  /  303.479.3846 Michael Armbruster  /  Vice President Michael.Armbruster@glca.com  /  303.479.3851 GLC Advisors & Co. GLC Advisors & Co. delivers objective, senior-level expertise to clients through a variety of advisory assignments including: mergers & acquisitions, equity and debt capital advisories, restructurings/recapitalizations, fairness opinions, and valuations. Offices are located in New York, Denver, Los Angeles and San Francisco.

GLC Advisors Transaction Closing Announcement

Tower Health (“Tower”), an integrated 1,200-bed regional health system based in Reading, PA, successfully completed a recapitalization through a comprehensive exchange of over $1bn of outstanding bonds and a new $157.5mm financing. The transaction significantly strengthened Tower’s balance sheet, providing sufficient liquidity and runway for Tower to continue its impressive turnaround.

GLC served as Financial Advisor to the Bond Trustee and an ad hoc group of bondholders (the “AHG”) holding more than 84% of Tower’s $1.2bn of outstanding bonds. The public exchange offer was open to all bondholders and was accepted by 92% of outstanding bonds. Concurrently, the AHG and other participating bondholders provided $157.5mm of new financing to bolster Tower’s near-term liquidity.

GLC is a registered Municipal Advisor with the MSRB and SEC and maintains a core focus on the tax-exempt financial markets.

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GLC’s Healthcare Coverage Team GLC brings a distinctive and dedicated approach to coverage of the Healthcare sector. Our professionals have advised on a range of complex transactions including M&A, debt financing and restructuring & recapitalizations, and our institutional knowledge spans the full spectrum of sub-sectors in this constantly evolving industry. Our clients include corporations, creditors, entrepreneurs, and financial sponsors. Alex Geier  /  Managing Director Alex.Geier@glca.com Sean Cannon  /  Managing Director Sean.Cannon@glca.com  Soren Reynertson  /  Managing Director Soren.Reynertson@glca.com Michael Sellinger /  Managing Director Michael.Sellinger@glca.com Jason Leshner /  Vice President Jason.leshner@glca.com GLC Advisors & Co. GLC Advisors & Co. delivers objective, senior-level expertise to clients through a variety of advisory assignments including: mergers & acquisitions, equity and debt capital advisories, restructurings/recapitalizations, fairness opinions, and valuations. Offices are located in New York, Denver, Los Angeles and San Francisco. For more information, visit www.glca.com.

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GLC Advisors Transaction Closing Announcement

Sutherlands Lumber & Design Gallery (“Sutherlands”), a leading supplier of structural building materials and interior building products based in Fort Collins, Colorado has been acquired by Dardanelle Timber Co. Sutherlands serves as a one-stop-shop source for home design, improvement, renovation, and building needs for both homebuilders & contractors and commercial framers for residential new construction in the Colorado Front Range and surrounding areas.

Sutherlands boasts a dedicated management team focused on delivering exceptional service – prompt, friendly, and expert – to residential homebuilders and contractors. This unique combination of a design center and lumberyard under one roof, with dedicated rail access, positions Sutherlands as a leader in Northern Colorado’s building supply market and will continue to serve the broader Front Range market for generations to come.

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“GLC was highly diligent and persistent in presenting our business to potential buyers. We will definitely use them again when the need arises.”

Bob Sutherland Jr.
Owner & Chief Executive Officer, Sutherlands Lumber & Design Gallery

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GLC’s Business Services & Industrials Team  GLC’s Business Services & Industrials Team is exclusively focused on advising business services and industrials clients in the Middle Market. Our team’s advisory work includes M&A (sell-side and buy-side), financing/debt advisories, recapitalizations, fairness opinions, and valuations. We excel at working with founders and owner-operators. Our team is passionate about the businesses and people that hire us to advise in their strategic decisions and events. Adam Fiedor  /  Managing Director Adam.Fiedor@glca.com  /  303.479.3845 Michael Richter  /  Managing Director Michael.Richter@glca.com  /  303.479.3844 Michael Fleschner  /  Director Michael.Fleschner@glca.com  /  303.479.3846 Michael Armbruster  /  Vice President Michael.Armbruster@glca.com  /  303.479.3851 Marcus Fenimore /  Associate Marcus.Fenimore@glca.com  /  720.543.3009 GLC Advisors & Co. GLC Advisors & Co. delivers objective, senior-level expertise to clients through a variety of advisory assignments including: mergers & acquisitions, equity and debt capital advisories, restructurings/recapitalizations, fairness opinions, and valuations. Offices are located in New York, Denver, Los Angeles and San Francisco. For more information, visit www.glca.com.

GLC Advisors Transaction Closing Announcement

OpenCounter, a pioneer in streamlining the permitting and licensing process for citizens and government staff, has been acquired by Accela, a leading provider of cloud-based solutions for government.

“OpenCounter has primarily focused on the applicant experience, understanding that the permitting process starts when someone has an idea and not when they submit their first application.” said Linh Vuong, Product Director at OpenCounter. “Having worked alongside Accela for many years, the OpenCounter team is excited to combine strengths with this partnership, and thrilled for the opportunities we’ll have to bring a comprehensive and user-friendly permitting solution  to cities, counties and states across the country.”

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“Integrating OpenCounter’s technology with Accela’s comprehensive platform will revolutionize how citizens and businesses interact with government services. We are committed to making the licensing and permitting process as intuitive and efficient as possible.”

Noam Reininger
CEO, Accela

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GLC Technology Group  GLC’s Technology Group specializes in providing sell-side M&A advisory, buy-side M&A advisory, minority and majority recapitalizations, debt and equity capital raising, and other corporate finance advisory services. The GLC Technology Group has decades of technology M&A and capital markets experience and has closed transactions with leading technology consolidators and technology focused private equity firms representing billions of dollars in aggregate transaction value for its clients. David Bluth  /  Managing Director David.Bluth@glca.com  /  303.479.3855 Adam Haynes  /  Managing Director Adam.Haynes@glca.com  /  303.479.3842 Jim Williams  /  Managing Director Jim.Williams@glca.com  /  303.479.3850 GLC Advisors & Co. GLC Advisors & Co. delivers objective, senior-level expertise to clients through a variety of advisory assignments including: Mergers & Acquisitions, equity and debt capital advisories, restructurings/recapitalizations, fairness opinions, and valuations. Offices are located in New York, Denver, Los Angeles, and San Francisco.

GLC Advisors Transaction Closing Announcement

Near Intelligence, Inc. (NASDAQ:NIR) (“Near”), a global, privacy-led data intelligence platform, was sold to funds affiliated with Blue Torch Finance LLC (“Blue Torch”) for $50.0mm through a Chapter 11 363 asset sale process.

Near curates one of the world’s largest sources of intelligence on people and places. Near’s patented technology analyzes data to deliver insights on approximately 1.6 billion unique user IDs across 70 million points of interest in more than 44 countries. With a presence in California, Paris, Bangalore, Singapore, Sydney, and Tokyo, Near serves enterprises in a diverse spectrum of industries including retail, real estate, QSR, travel, telecom, media, and more.

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GLC Technology Coverage Overview GLC provides senior-level advice and execution throughout the Technology sector. Our professionals have advised on a range of complex transactions including restructuring & special situations, M&A, debt financing and recapitalizations, and our institutional knowledge spans a broad spectrum of sub-sectors in this evolving industry, with a focus on SaaS, Vertical Applications, Online Applications & Services, and IT & Tech-Enabled Services. Our clients include corporations, creditors, companies, entrepreneurs and financial sponsors. Deal Team: Abe Han  /  Managing Director Abe.Han@glca.com  /  212.542.4555 Bob Swindell  /  Managing Director Bob.Swindell@glca.com  /  212.542.4552 Daniel Grundei  /  Vice President Daniel.Grundei@glca.com  /  212.542.4549 David Bluth  /  Managing Director David.Bluth@glca.com  /  303.479.3855 Jim Williams  /  Managing Director Jim.Williams@glca.com  /  303.479.3850 GLC Advisors & Co. GLC Advisors & Co. delivers objective, senior-level expertise to clients through a variety of advisory assignments including: Mergers & Acquisitions, equity and debt capital advisories, restructurings/recapitalizations, fairness opinions, and valuations. Offices are located in New York, San Francisco, and Denver. For more information, visit www.glca.com.

GLC Advisors Transaction Closing Announcement

ChapterSpot, a leader in providing non-profit organizations with innovative software solutions including CRM and member management, has been acquired by Billhighway, a provider of finance management solutions for fraternal organizations and associations. “ChapterSpot joining forces with Billhighway creates a comprehensive, powerful, and scalable technology solution. We are now uniquely able to deliver a best-in-class system — one that is seamless throughout the member lifecycle from recruitment to dues, from chapter operations to financial management, from donor management to housing,” says Joe McMenemon, co-founder of ChapterSpot. “Together, as one company, we are deeply committed to the success and growth of the fraternal community and each of our clients.”

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“We engaged the GLC Technology Team in response to inbound interest from strategic parties. GLC plugged in immediately and was able to get us organized and out to market in a matter of days. I can’t overstate the value that GLC brought to the transaction. I was impressed with the team’s creative approach to complex deal issues, broad knowledge of the technology sector, and commitment to providing unmatched service. They are true experts of the entire M&A process and helped guide us to the best outcome for everyone involved.”

Joe McMenemon
C0-Founder, ChapterSpot

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GLC Technology Group  GLC’s Technology Group specializes in providing sell-side M&A advisory, buy-side M&A advisory, minority and majority recapitalizations, debt and equity capital raising, and other corporate finance advisory services. The GLC Technology Group has decades of technology M&A and capital markets experience and has closed transactions with leading technology consolidators and technology focused private equity firms representing billions of dollars in aggregate transaction value for its clients. David Bluth  /  Managing Director David.Bluth@glca.com  /  303.479.3855 Adam Haynes  /  Managing Director Adam.Haynes@glca.com  /  303.479.3842 Jim Williams  /  Managing Director Jim.Williams@glca.com  /  303.479.3850 GLC Advisors & Co. GLC Advisors & Co. delivers objective, senior-level expertise to clients through a variety of advisory assignments including: Mergers & Acquisitions, equity and debt capital advisories, restructurings/recapitalizations, fairness opinions, and valuations. Offices are located in New York, San Francisco, and Denver. For more information, visit www.glca.com.

GLC Advisors Transaction Closing Announcement

Champion Auto Carriers (“Champion”), a premier auto logistics and transportation solutions provider, announced its acquisition by Accelerated Services, a national auto transport carrier and auto transport broker service provider.

Established in 1999, Champion provides delivery of over 120,000 automobiles each year and specializes in auto sourcing, load distribution & batch management, auto pick-up & transport, and auto delivery & unloading. Champion’s comprehensive auto logistics solutions cover 18 states throughout the Central and Western United States primarily serving the world’s leading automotive OEMs and dealers.

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“The team at GLC did an amazing job along the journey to completing the transaction. Their dedication and professionalism was unmatched, and they always stayed focused on reaching the final goal. They fully understand the process and have an expertise in the M&A industry. I want to personally thank them and their entire team for everything they did for us. They truly bring value to the M&A process.”

Tony Cromwell
Founder, President & CEO, Champion Auto Carriers

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GLC’s Business Services & Industrials Team  GLC’s Business Services & Industrials Team is exclusively focused on advising business services and industrials clients in the Middle Market. Our team’s advisory work includes M&A (sell-side and buy-side), financing/debt advisories, recapitalizations, fairness opinions, and valuations. We excel at working with founders and owner-operators. Our team is passionate about the businesses and people that hire us to advise in their strategic decisions and events. Michael Richter  /  Managing Director Michael.Richter@glca.com  /  303.479.3844 Adam Fiedor  /  Managing Director Adam.Fiedor@glca.com  /  303.479.3845 Michael Fleschner  /  Director Michael.Fleschner@glca.com  /  303.479.3846 Michael Armbruster  /  Vice President Michael.Armbruster@glca.com  /  303.479.3851 Jackson Winn  /  Associate Jackson.Winn@glca.com  /  303.479.3854 GLC Advisors & Co. GLC Advisors & Co. delivers objective, senior-level expertise to clients through a variety of advisory assignments including: mergers & acquisitions, equity and debt capital advisories, restructurings/recapitalizations, fairness opinions, and valuations. Offices are located in New York, Denver, Los Angeles and San Francisco. For more information, visit www.glca.com.