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Thompson Street Capital Acquires BCC Software as Versa Capital Divests Bell/Howell Investments.

M2 EQUITYBITES-October 13, 2017-Thompson Street Capital Acquires BCC Software as Versa Capital Divests Bell/Howell Investments


13 October 2017 - Pennsylvania, US-based private equity investment firm Versa Capital Management, LLC has finalised the sale of New York, US-based software and data marketing solutions provider BCC Software, LLC to Missouri, US-based private equity firm Thompson Street Capital Partners, the company said.

Terms of the transaction were not disclosed.

Versa acquired BCC as part of its acquisition of North Carolina, US-based service and technology solutions company Bell and Howell, LLC and later spun it out into a separately capitalised business.

In addition, Bell and Howell completed the sale of its sorting equipment division to Fluence Automation, a newly formed company established by Sorting Division management and a third-party investment group.

These two divestitures position Bell and Howell to focus on growing its larger core mechanatronic services, mail inserting and vision systems businesses, while providing substantial capital to the debt-free company to support growth initiatives as well as a further return of capital to its owners.

Affiliates of Versa, along with co-investor Access Value Investors, remain the owners of Bell and Howell.

Versa Capital Management, LLC said these divestitures enable us to return additional capital to investors, while benefiting BCC's and Bell and Howell's customers and employees. Bell and Howell remains debt-free and positioned to execute on its core services and technologies platforms.

Versa Capital Management, LLC has more than USD 1.4bn of assets under management focussed on control investments in special situations involving middle market companies where value and performance growth can be achieved through enhanced operational and financial management.

BCC is a provider of postal software and data marketing solutions to direct mail owners, marketers and printers. BCC's solutions are used by its customers to process more than 30bn pieces of mail each year.

BCC was represented in its sale to Thompson Street Capital Partners by Lincoln International. Bell and Howell was represented in the Fluence transaction by Headwaters MB. Morgan, Lewis and Bockius LLP advised Versa on both transactions.

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Publication:M2 EquityBites (EQB)
Date:Oct 13, 2017
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