M&A activity perks; GNOC expands reach
Idera Inc., a Houston maker of B2B productivity software, has sold a majority stake to private markets investment manager Partners Group. Current shareholders HGGC and TA Associates will continue as significant equity investors, along with Idera’s management team.
The investment is the fourth equity transaction for Idera since 2014. HGGC took a majority interest in 2017 and Partners Group made an initial investment in Idera in 2019. Terms of the latest transaction were not disclosed.
Idera brands span three divisions, Database Tools, Developer Tools and Testing Tools, serving the health care, financial services, retail and technology sectors.
Skyward Insurance buys, sells in swap deal
Skyward Specialty Insurance Group, a Houston-based property and casualty insurance holding company, has acquired Aegis Surety and simultaneously sold its XPro business. K2 Insurance Services, a private company based in San Diego, was both the seller of Aegis Surety and the buyer of XPro, a provider of solutions to the pest control industry. Terms were not disclosed.
Aegis Surety offers surety bonds in 45 states and the District of Columbia. The company offers security bonds to a range of contractors, specializing in underwriting bid, performance, payment, supply and maintenance bonds. Skyward also owns Houston Specialty Insurance Co., Imperium Insurance Co.., Great Midwest Insurance Co., Oklahoma Specialty Insurance Co. and Boston Indemnity Co. the Open Sports platform from Scientific Games.
The Houston-based gaming company, which just went public through a merger with a special purpose acquisition company, is controlled by Tilman Fertitta, owner of the Landry’s restaurant group, Houston Rockets and Golden Nugget casinos.
Woodlands firm in polymer consolidation
GPD Cos. of The Woodlands has entered into an agreement to acquire Distrupol, a European distributor of thermoplastics to the polymer processing industry. Terms of the transaction, which is expected to close in the first half of 2021, were not disclosed.
Headquartered in Surrey, England, Distrupol offers an array of performance products and solutions for the consumer, medical, automotive and electrical sectors. Distrupol will join a portfolio that includes Nexeo Plastics, based in Spring and will operate as a standalone, independent entity under its current brand and will be led by its existing management and commercial teams.