August 2020 #1

Access to some materials included in this newsletter may be limited to Red Forest Capital funds.

INDUSTRY UPDATES

• 2020 Q2 Venture Monitor from PitchBook and the NVCA

• Facebook publishes first Global State of Small Business

• Goldman Sachs Market and Economic Perspectives Riding the Storm

• Assess the impact: COVID-19 and private equity portfolio valuations from Plante Moran

• Health Care Provider Clinical Practice Guidelines, 2020 Midyear Review

• Technology & Software Q1 2020 M&A Update from P&M Corporate Finance (“PMCF”)

• New US Antitrust Merger Guidelines Focus on ‘Vertical’ Acquisitions

• M&A Trend Reports from Berkery Noyes Investment Bank

• Farm Tech Market Map: Why it’s time to distinguish farm tech from the messy supply chain

• What US medical supply chain can learn from the fashion industry

• Alternate reality game (Labyrinth) offers model for new media in an age of social distancing

• The Restaurant Traffic Recovery Is Back on the Rocks from Barron’s (no subscription required)

• The US food-service industry may take four years to recover from the COVID-19 pandemic

• Internet of Things (IoT) trying to hold connectivity together in disasters

INDUSTRY IDEAS

• Process automation technology providers like Alfresco Software, currently represented by Jefferies

• Back Up as a Service and cloud software from providers like Granicus, currently represented by William Blair

• On-demand accident insurance

• Business Models for Sustainable Spare Parts and vendors within value chain

• Specialty packaging like noissue. Beyond COVID-19: The next normal for packaging design from McKinsey

• With increased remote work and 5G, Field Services, Testing and Restoration like Advanced Fiber Response or Wyco Field Services

• Recruiting screening solutions like Triplebyte and Modern Hire that offer modern recruiting, tests and interview solutions

• Complementary education providers like Astravo, USA Reading Clinic and Purpose Prep

• Remote instructors like Teleteachers and alternate education modalities, like School Pods 

M&A, PRIVATE EQUITY AND SEARCH FUNDS

• Lindsay Corporation acquires AgTech company, Net Irrigate

• Clancy Systems to acquire Anthea, a leading exporter of protein commodities to Middle East and importer of healthy food brands to North America

• VOXX International Corporation Acquires Majority Of Directed's Automotive Aftermarket Business

• GB Auto Service acquired Sun Devil Auto and Sun Auto Service, Phoenix-based automotive service facilities

• Weld North Education acquires Purpose Prep, a social emotional learning curriculum company

• Discovery Education, provider of K-12 digital curriculum and professional learning services, acquired Spiral, an assessment platform

• Unacademy acquired PrepLadder, a medical exam preparation startup, for $50 million in cash and stock CB Insights acquires VentureSource data from Dow Jones, significantly expanding private markets coverage

• Recursion acquired Vium, a digital biomarkers provider

• Sarnova acquires Digitech and R1 RCM (formerly ADPI/Intermedix), revenue cycle management (RCM) solutions for emergency medical services

• Nemaura Medical acquire diabetes-care firm Healthimation

• Hunter Street and Healy Capital invest in Ark Behavioral Health

• AI Fire acquired Kennebec Fire Equipment Inc, a fire protection equipment supplier

• SK Capital Partners acquired Baker Hughes, a specialty polymers business

• Francisco Partners invested in GAINSystems, a supply chain planning and inventory optimization solution

• Altair acquires S&WISE, a manufacturing simulator polyurethane foam solution provider

• Partnerize acquired Pepperjam, an affiliate marketing services provider

• Esports Entertainment to acquire Argyll Entertainment

• Armstrong World Industries acquires Turf Design

• Circa acquired America's Job Exchange, a maker of solutions for diversity recruitment

• Zebra acquires Reflexis Systems, which provides workforce management software, for $575 million

• TriNet acquired Little Bird HR, a PEO specializing in benefits and human resource solutions for east coast educational institutions

• Clarivate will merge with CPA Global, an intellectual property software and technology services provider for an implied EV of $6.8 billion

• Mimecast acquired MessageControl, a messaging security software developer

• Perceptyx acquired the Employee Insights business of Kantar, a data, insights, and consulting company

• HealthEdge Software acquired The Burgress Group, a provider of healthcare payment integrity software

• Next10 acquires Ultimate Logistics and Ultimate Innovation, a private freight hauling company

• CTM Media, a tourism-focused brochure distribution and marketing company sold for $3.75 million

• GHK Capital Partners acquired Hasa, Inc., a manufacturer and distributor of water treatment chemicals

• Valet Living acquires Value Waste Services

• Crestview Partners invested in Upwell Water, a specialty finance company focused on water

• Hopjump, a travel company, acquired SmarterTravel Media from Tripadvisor

INTERESTING & FUN

• Need a Data Room or Investor Communication platform? Knightley offers custom Data Rooms, Dashboard, Investor Updates, Investor Commitments, Investor Look-In. Following is a link to the Demo. Standard monthly subscriptions vary $14-20, but use promo code ”GiveFirst” for a discount

• Diligence During COVID from Symmetrical Advisory

• GOOD v GREAT customer and revenue retention

• How to road trip safely during a pandemic: Tips for navigating rest stops, gas stations and hotels

Jason Kania | Operating Partner | o. 978.776.6148 | linkedin | my online calendar