Bold Dallas-Fort Worth business deals create frenetic start to 2022

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Deals are frantically starting in 2022 and here are some of the Dallas-Fort Worth companies closing funding rounds or acquisitions in the past week.

Investments

  • ParkHub, known locally for its parking technology at the American Airlines Center and AT&T Stadium, has received a growth investment of approximately $100 million from private equity firm LLR Partners. The Dallas-based company, founded by George Baker, will use the capital to further develop its parking management and payment processing technology, as well as potential acquisitions.
  • Based in Dallas Isle went public this week with $100 million in support for its namesake secure enterprise browser. Island is led by co-founder and CEO Mike Fey, who previously held leadership positions at Symantec and McAfee, and co-founder and CTO Dan Amiga, previously founder and CTO of Fireglass. The company said it has been working for two years to develop the browser. Its investors include Insight Partners, Sequoia Capital, Cyberstarts and Stripes.
  • Chat Card, a Dallas-based startup developing a conversational intelligence platform for call centers, received $8 million in growth funding led by Stage1 Ventures LLC. Talkmap said it will use capital from its patented Talkdiscovery platform and to expand its team to support financial services and mobile operators in North America. Founded in 2017, the company led by CEO Tim Moss has raised $17.6 million from investors.
  • Plano-based behavioral health provider Health Oceans secured an undisclosed growth investment from Webster Equity Partners. Founded in 2004, Oceans operates 33 locations in Texas, Louisiana and Mississippi, including 23 inpatient hospital campuses and 20 outpatient programs. It received a $17 million investment in 2013 from General Catalyst.
  • Dallas Executive Search Firm Kingsley Gate Partners received an undisclosed investment from Crescent Cove Advisors to accelerate the development of its talent acquisition and artificial intelligence software. Umesh Ramakrishnan, one of the company’s co-founders, became the company’s new CEO alongside the investment.

Acquisitions

  • Dallas-based marina operator Suntex Marina Investors LLC merged with a rival to form the second most valuable marina company in the industry. The deal with Westrec Marinas is backed by New York-based private equity investor Centerbridge Partners, which paid $400 million for Westrec. The merger creates a company with a combined value of $2.5 billion.
  • Dallas-based Payment Alliance International has acquired Garland-based TouchPoint 21, which provides ATM-based managed services to financial institutions. PAI, a provider of ATM wallet management tools, was acquired last year by Brink’s Co. for $213 million.
  • Based in Carrollton Tide sold to automation and cash management company Sesami Cash Management Technologies, an operating unit of Montreal-based global security firm GardaWorld. Terms of the agreement were not disclosed. Tidel and Gunnebo Group, based in Sweden, will be merged to form a company with a turnover of more than a billion dollars. Sesami’s US headquarters will be in Dallas.
  • Dallas-based insurance technology company Integrity Marketing Group LLC acquired Senior Insurance Marketing, an independent marketing organization based in Lincoln, Neb. As part of the acquisition, Mike and Kristi Roth, heads of Senior Insurance Marketing, will become managing partners of Integrity. Terms of the agreements were not disclosed. Integrity’s approximately 5,500 employees work with more than 420,000 insurance agents and advisors who serve more than 10 million customers each year.
  • Westlake-based automotive technology company Solera Holdings purchased Spireon, one of North America’s largest connected vehicle intelligence companies, from a fund managed by Greenbriar Equity Group. Terms of the agreement were not disclosed. Spireon serves more than 13,000 customers with nearly 4 million connected devices.
  • Based in Fort Worth Ben E. Keith Foods purchased Florida Food Service Inc., including an 86,000 square foot distribution center in Gainesville, Florida. The deal will create a ninth Ben E. Keith division in 15 states. Ben E. Keith Foods said it would retain workers from the family business.

Initial Public Offering

  • Based in Fort Worth Kimbell Tiger Acquisition Corp., a SPAC and indirect subsidiary of Kimbell Royalty Partners, began trading Friday on the New York Stock Exchange under the symbol TGR-UN. The shares closed at $10.08, a gain of 8 cents on its debut. The IPO was expected to raise about $200 million for SPAC, which is seeking to buy an energy and natural resources company. Zachary Lunn is the President and CEO of Kimbell Tiger.
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