As we begin the new year, we take a moment to reflect on what Capstreet and our portfolio companies accomplished in 2022.
Our team completed five exits and four add-on acquisitions. We welcomed four new Capvalue operating team members and celebrated three promotions. We also implemented our Capvalue value creation framework within our portfolio, and launched our new website and CRM system to better support our business development activities.
During the year we maintained our strategy of theme-based investing in founder/entrepreneur run companies in the software, tech-enabled services and industrial business services sectors. We’re excited to share more details on these activities as we look forward to continuing our strategy in 2023.
Highlights of 2022
Completed 5 Exits
| Company | Exit Date | Buyer |
|---|---|---|
| Thorpe | Aug 2022 | KLH Capital |
| Allied Reliability | Dec 2022 | Shell USA, Inc. |
| Onpoint | Nov 2022 | MML Capital |
| PCS | Sept 2022 (1) | LLR |
| HungerRush | June 2022 (1) | Corsair |
(1) Minority interest retained.
Closed 4 Add-On Investments
| Add-On Acquisition | Close Date |
|---|---|
| TradePending acquires AutoAPR | March 2022 |
| To be announced later in 2023 | March 2022 |
| CBC acquires CreditDriver Solutions | October 2022 |
| To be announced later in 2023 | December 2022 |
Received Industry Recognition
- Capstreet Wins ACG Houston Technology Deal of the Year for Portfolio Company HungerRush’s Acquisition of Menufy.(2)
- Capstreet Named to Inc.’s 2022 Founder-Friendly Investors List, Honoring the Private Equity and Venture Capital Firms With the Best Track Records of Successfully Backing Entrepreneurs.
Value Creation Within Our Portfolio
Capstreet’s Capvalue operating team partnered with our portfolio company management teams to achieve:
| Projects | Count |
|---|---|
| Strategy projects | 5 |
| Go-To-Market strategy implementations | 6 |
| Senior level hires | 52 |
| CRM implementations | 10 |
| ERP implementations | 13 |
| Buyside M&A engagements | 4 |
| M&A integrations | 3 |
| Compliance audits | 9 |
| Security assessment and hardening projects | 21 |
| Technology infrastructure projects | 9 |
| Portfolio management metrics implementation projects | 11 |
| Contingency planning projects | 5 |
Growth at Capstreet
We Welcomed 4 New Members to Our Capvalue Operating Team
- Alyssa Fox, Senior Vice President, Marketing
- Kirk Harrell, Senior Vice President, Talent
- Anja Timmerman, Operating Advisor(3), Integration & Compliance
- Jim Turner, Operating Advisor(3), Corporate Development
(3) Operating Advisors are not Capstreet employees. They are independent consultants and, as members of the Capvalue Operating Team, commit their time to work within the Capstreet portfolio.
And Celebrated Three Promotions
- Kevin Johnson, Partner
- Evan Harmon, Vice President
- Brian Hopkin, Vice President
Our Portfolio
Software
- HungerRush
- TradePending
- hh2
- WIN 911
- PCS
- informativ (4)
Tech-Enabled Services
Industrial Business Services
(4) Formerly known as Credit Bureau Connection (CBC)
We’re Proud of Our Accomplishments in 2022 and Look Forward to Continuing to Work with You in 2023
(2) The Association of Corporate Growth (“ACG”) Houston’s annual Deal of the Year event celebrates Houston’s booming middle-market community, honoring the deals and deal makers who drive middle-market growth and their success in generating job-growth, capital formation and the advancement of meaningful business relationships in the Houston community. Capstreet received the “ACG Houston Technology Deal of the Year” award in April 2022. For investments to qualify, the company must have had a closing date between January 1, 2021 and December 31, 2021 and a tie to the greater Houston area (e.g., where the buyer, seller or assets were located). Capstreet is not aware of the number of companies surveyed for the award. Capstreet did not pay a fee to be considered for this award but is a paid member of ACG Houston. This award is not to be construed as indicative of Capstreet’s future performance. Reference to an award is only one piece of information relevant to an evaluation of an investment adviser such as Capstreet. Finally, this award represents information as of a specific date and time and may not reflect important information related to an evaluation of the investment adviser which has occurred prior to, or subsequent to, the award.
