Author: Jennifer Stark

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.

GLC Advisors Transaction Closing Announcement

Augustus Aerospace Company (“AAC”), a leading developer and provider of Intelligence, Surveillance, and Reconnaissance (“ISR”), communications, and radar systems for space platforms has been acquired by Aeronix Technologies Group (“ATG”), a provider of defense electronics for use in the domains of air, land, sea, and space. ATG is a portfolio company of ShoreView, a Minneapolis-based private equity firm.

Founded in January 2018, with facilities in Lone Tree and Colorado Springs, Colorado, AAC designs, develops, and delivers robust, integrated mission systems to meet military, defense, and intelligence customers’ most challenging ISR, communications, and radar requirements. AAC has successfully executed over 15 separate programs and will have delivered more than 40 flight payloads by the end of this year – each requiring sophisticated innovations for mission success in addition to supporting aggressive delivery schedules.

ATG’s acquisition of AAC will support AAC’s transition from cutting edge research and development of ISR space systems to high-capacity production that meets and exceeds the demanding standards of space operations.

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“At Augustus we develop cutting edge capabilities across the entire spectrum of electromagnetics from ultrawide band electronically steerable arrays, to very low noise digital sampling receivers to the most complicated signal processing algorithms in the world.  The only way we were going to get top dollar for the sale of our company is with the support of an extremely intelligent investment banking team.  GLC Advisors was up to the challenge and became persuasive advocates throughout the entire process.“

Mace Golden, PH.D.
President & CEO, Augustus Aerospace Company

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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 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.

GLC Advisors Transaction Closing Announcement

Next Step Energy Solutions (“NSES”), a leading national provider of turnkey LED lighting system retrofit solutions located in Littleton, Colorado, announced a recapitalization investment by GEF Capital Partners, a Washington, D.C.-based sustainability-focused private equity firm.

NSES’ innovative system for delivering and designing energy efficient lighting solutions enables customers to reduce electricity usage and maintenance expenses at facilities, while also decreasing utility and operational costs. Owners and operators of healthcare facilities, commercial real estate assets, education campuses, hotels, and industrial operations rely on NSES to save on energy and operating costs in combination with the pursuit of Net Zero carbon emissions targets. 

To date, NSES has serviced over 65 million square feet domestically and internationally resulting in $60 million in annualized utility, maintenance, and operational savings and 18.7 million lbs. of avoided CO² emissions.

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“We knew GLC was the investment banking partner for us from the very beginning. Their team’s proven, time-tested M&A knowledge and hands-on approach were crucial in navigating the complexities of this transaction. The team at GLC truly understands founder owners and helps them achieve the pursuit of their growth goals. I am very grateful for the partnership we created together.”

Chad Lembeck
Co-Founder & CEO, Next Step Energy Solutions

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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.

GLC Advisors Transaction Closing Announcement

Octopi Brewing, one of North America’s largest contract beverage production and co-packing facilities, located in Waunakee, Wisconsin announced its acquisition by Asahi Europe & International (AEI), the international branch of Asahi Group Holdings, Ltd. (TSE:2502) – a global food and beverage holding company of brands such as Asahi Super Dry, Peroni Nastro Azzurro, Pilsner Urquell, and Kozel among others.

Octopi Brewing’s modern production facility was built from the ground up to innovate and produce a wide range of beverages, including beer, non-alcoholic, and ready to drink products, using state-of-the-art packaging lines. Today, Octopi operates over 545,000 square feet of production and warehousing facilities with production capacity exceeding 1,000,000 bbl annually.

Octopi will be integrated into AEI’s U.S. subsidiary, Asahi Beer USA, and begin production of global brands Asahi Super Dry and Kozel for the North American marketplace along with a wider portfolio of brands for distribution and sale in Canada. The acquisition of Octopi represents a significant step forward in accelerating Asahi’s global ambitions for Asahi Super Dry, Japan’s most popular beer, which will now be brewed in the U.S. for the first time.

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“I had the opportunity to work with GLC in the past and when the opportunity to partner with a leading, global food and beverage products company became a possibility, the team at GLC was my first call to make it a reality. The GLC team’s ability to guide us through the complex process of a sale was invaluable in achieving a successful outcome for us.”

Isaac Showaki
Founder & President, Octopi Brewing

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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.

GLC Advisors Transaction Closing Announcement

Juice Plus+, a storied direct seller of whole-food, plant-based nutritional supplements, successfully completed an out-of-court recapitalization, including a new money investment by the Company’s sponsors. Upon consummation of the transaction, the Company eliminated approximately $320mm of its $675mm of debt obligations.  In concert with a $30mm equity capital infusion by the sponsors, the Company’s senior lenders extended maturities and secured several economic and collateral protection enhancements.  With these alterations, the Company will have additional operating flexibility to execute on its business strategies. 

GLC served as the exclusive financial advisor to the Term Loan Lenders.  The recapitalization was fully consensual and achieved 100% consent from the lending group.

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GLC Restructuring Team Overview GLC has been a top 10 US restructuring investment bank for more than 10 years with financial professionals in New York, Denver, Los Angeles and San Francisco.  The restructuring team has collectively advised on over 250 restructuring transactions involving over $450 billion in aggregate debt and preferred obligations. GLC professionals have extensive experience working on the “other side of the table” as distressed investors and board members, which provides a complete view of the restructuring process.   Our clients include companies, financial sponsors, special situation investors, CLO / CDO funds, and other credit investors. Jeff Raithel  / Managing Director jeff.raithel@glca.com  /  213.573.1082 John Hill  /  Vice President john.hill@glca.com  /  213.573.3853 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

Race Technologies, an exclusive tech-enabled distribution, supply chain management and technical support partner for high performance Brembo branded braking products and related accessories serving automotive & motorcycle performance and racing communities, has announced its recapitalization by Clavis Capital Partners.

Founded in 1998, Race Technologies has been serving automotive & motorcycle racing, custom build, and enthusiast markets for over 25 years. With facilities on both the west and east coasts, Race Technologies’ fully integrated platform provides supply chain services and high-performance product distribution and support to customers globally.

With Clavis’ backing, Race Technologies will further develop proprietary AI-driven inventory software, support the growth of the Brembo brand in the performance aftermarket, and accelerate Race Technologies position as a leading supply chain and logistics management platform.

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“I cannot thank the GLC deal team enough for their continuous support and determination over the past several months in accomplishing such a tremendous outcome for our team. GLC is truly a trusted partner and was our advocate from start to finish in this transaction. Their understanding of founder-owned/entrepreneurial businesses coupled with their ability to navigate a sophisticated transaction process far exceeded my expectations. I truly appreciate their entire team’s efforts.”

Jamie Trimble
Founder & CEO, Race Technologies

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GLC Transaction Team  Our team is exclusively focused on advising 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 them 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. For more information, visit www.glca.com.

GLC Advisors Transaction Closing Announcement

Acquired by

A Portfolio Company of

TRIPBAM is a global SaaS solution and the industry’s only provider of fully automated, always-on auditing technology to track and review corporate travel pre-trip spend, corporate negotiated discounts, and supplier contracts. TRIPBAM’s technology constantly tracks and compares current prices with customers’ travel reservations and automatically rebooks a flight or hotel room if a lower price is available. It has tracked more than 30 million corporate travel bookings to date, representing over $30 billion in spend. TRIPBAM’s solutions have helped more than 2,000 customers, including Aon, Elevance Health and Microsoft, to automatically save in excess of $500 million. The acquisition of TRIPBAM makes Emburse an even stronger partner for travel and finance leaders, supporting their efforts to better manage spend and proactively control travel costs. With TRIPBAM, Emburse’s 18,000+ customers can add flight and hotel rebooking to the T&E process, providing the lowest prices for their travel plans.

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“I now have a strong appreciation for the tremendous value that the right investment bank can deliver in a sales process – particularly in the current, choppy M&A market. GLC’s expertise in positioning software companies, negotiating successful M&A deals, and driving deals to a positive close, produced a terrific outcome for our organization. I would highly recommend GLC to any tech company looking to navigate these uncharted Tech M&A waters.”

Steve Reynolds

Chief Executive Officer, TRIPBAM, Inc.

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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.