Follow the Money: Adaptive3D Secures Series A Funding; Vinli, Perennials and Sutherland Get Investments

You’ll also find news about TPG Capital, Lone Star Funds, Phoenix Capital Partners, RumbleOn and AZZ Inc. in this roundup of funding, merger, and acquisition activity affecting investors and businesses in North Texas.

What companies are finding funding or having a big exit? From startup investments to grants to acquisitions, Dallas Innovates tracks what’s happening in North Texas money every Thursday. Sign up for our e-newsletter to stay in the loop.

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Polymer resins supplier Adaptive3D gets Series A funding

Dallas-based Adaptive3D, a supplier of premium additive manufacturing polymer resin, has secured a Series A funding round for an undisclosed amount, according to a report in FinSMEs.

The funding round was co-led by DSM Venturing, which is Royal DSM’s strategic funding arm, and by Applied Ventures LLC, the VC arm of Applied Materials, as well as Mary McDermott Cook and the late Margaret McDermott, whose father and husband, respectively, founded Dallas-based Texas Instruments.

Adaptive3D was founded in 2014 by inventor Walter Voit and is an additive manufacturing polymer resin provider that partners with global firms to deliver solutions for functional end-use products and prototypes, FinSMEs said.

Perennials and Sutherland receive investment from Bertram

Perennials and Sutherland LLC, a Dallas-based maker of performance fabric for indoor and outdoor uses and luxury outdoor furniture, has received an ownership investment from California-based Bertram Capital.

The amount of the investment was undisclosed, according to a report in PE Hub.

It’s the eighth platform acquisition completed under Bertram’s third fund, PE Hub said. Perennials and Sutherland’s co-founders, Ann and David Sutherland, will continue to be involved in operations and retain significant ownership in the company, according to the report.

Vinli announces close of $13.5M Series B funding round

Dallas-based mobility startup Vinli announced this week closing a $13.5 million Series B funding round. Vinli has a data intelligence platform built for connected vehicles,

Earlier this week, we reported that participants in the capital raise included new and existing Vinli investors such as global electric utility provider, E.ON, The Westly Group, Hersh Family Investments, and Hal Brierley. The company also announced Konrad Augustin, Investment Director at E.ON Scouting and Co-Investments, and Kenneth Hersh, will join Vinli’s Board of Directors.

“We’re going to use the this new capital for a few things,” Vinli co-founder and CEO Mark Haidar told Dallas Innovates. “We want to make some key hires around in our executive team to grow our sales and partnerships in the space and we also want to invest in increasing our data intelligence and machine learning capabilities on top of our product Era which is now our marquee product and number three, we want to start building new capabilities in the company.”

TPG Capital commits $300M in support of Kadiant launch

TPG Capital, which is based in Fort Worth and San Francisco, announced it has entered into a partnership with Lani Fritts, a behavioral health provider, to form Kadiant Inc.

TPG Capital has committed $300 million of equity capital to support Kadiant’s launch and growth strategy. According to a release, Kadiant is a mission-driven organization that seeks to provide high-quality Applied Behavior Analysis (ABA) therapy and related critical services to people diagnosed with autism spectrum disorder.

Kadiant will focus on partnering with existing providers to develop the depth and breadth of their services, integrating them into a common organization, and expanding access by opening new locations, the release said.

Lani Fritts will serve as the Chief Executive Officer of the new company, according to the release.

Jacobs, Carbon Trust give $782K to Ozo Innovations

Ozo Innovations, a UK-based maker of cleaning solutions, received a £600,000 grant from Dallas-based Jacobs and the Department of Business, Energy & Industrial Strategy (BEIS) and Industrial Energy Efficiency Accelerator (IEEA) program managed by the Carbon Trust, Crunchbase reports.

The grant equals roughly $782,656. The funding will allow Ozo to substantiate the energy savings that can be achieved by implementing its “eloclear” hygienic process, a release states.

Other funding

The Dallas Business Journal reported that Dallas-based Lone Star Funds has raised $6.4 billion for its 11th flagship fund, citing a recent filing. According to the report, another $500 million was pitched in by the general partner and that Lone Star is aiming for $7.5 billion.

The Business Journal also reported that Dallas-based real estate-focused private equity firm Phoenix Capital Partners has raised nearly $8.5 million, again citing a filing. Phoenix Capital Partners works with developers for projects and it normally keeps properties for three to five years, the DBJ said.


READ NEXT Follow the Money: Elm Park Closes $300M Fund, Phynd Gets $8M, KonaTel Makes Acquisition


MERGERS & ACQUISITIONS

Tyler Technologies acquires MicroPact, boosting its federal presence

Tyler Technologies, a Plano-based provider of end-to-end information management solutions and services for local governments has agreed to buy MicroPact Inc. from Maryland-based Arlington Capital Partners in a $185 million all-cash deal.

Lynn Moore

Tyler CEO and President Lynn Moore said the acquisition is part of a growth strategy for the company. The deal should close in March, pending regulatory approvals.

“This is the second largest acquisition in Tyler Technologies’ history and represents a continuation of our long-term strategy to add best-of-breed companies and products that complement our current offerings and support our goals for continued growth,” Moore said in a statement. He said the company is particularly excited about how MicroPact’s presence in the federal market will help Tyler grow.

MicroPact is a provider of commercial off-the-shelf solutions, including entellitrak, a low-code application development platform for case management and business process management, Tyler said in a statement.

RumbleOn acquires Florida vehicle distributor AutoSport-USA

Coppell-based RumbleOn, an online buyer and seller of vehicles that allows both consumers and dealers to buy, sell, trade, and finance pre-owned motorcycles announced that it has acquired AutoSport-USA, an independent pre-owned vehicle distributor in Florida.

RumbleOn said that AutoSport-USA President Scott Bennie had joined RumbleOn’s management team.

The company said that the acquisition gives it immediate access to new inventory, enhances its access to the Florida market, and expand its team of industry experts.

Fort Worth’s AZZ to acquire Tennessee Galvanizing Inc.

AZZ Inc., a Fort Worth-based global provider of metal coating services, welding solutions, specialty electrical equipment, and highly engineered services, announced that it has reached a preliminary agreement to acquire Tennessee Galvanizing Inc., a private company based in Jasper, Tennessee.

No terms of the deal were released, but it is expected to close in the spring. Tennessee Galvanizing has four operating galvanizing lines that include centrifuge, rod, conveyer and a 42-foot structural kettle, 

Last year, AZZ Inc. announced that it won the bid to acquire some assets through a 363 bankruptcy sale from Lectrus Corp., a privately-held Tennessee corporation that designs and manufactures custom metal enclosures and provides electrical and mechanical integration.


READ NEXT Follow the Money: Satori Invests in Grapevine Company, Dynata Makes Acquisition

 


Funding and Exit Successes

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