INVESTMENTS
Generation targets investment opportunities in recurring revenue service businesses within the Business & Information Services, Healthcare Services & Technology, Media & Marketing Services, and Real Estate sectors.
We have a long-term horizon and have been involved in some of our businesses for more than 15 years.
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Business & Information ServicesHealthcare Services & TechnologyMedia & Marketing ServicesReal EstateAll
Agility Recovery
Denver, CO
http://agilityrecovery.comBusiness & Information Services
Agility is the leading provider of disaster recovery solutions including quick ship, mobile solutions and consulting services. Generation purchased the company from General Electric Capital’s Information Technology Services unit and led the transformation of the company's culture and strategy to become the leader in its sector, growing from 200 to over 15,000 customers.
American Cellular Corporation
Chicago, IL
http://www.cellularone.com/Media & Marketing Services
American Cellular Corp. operated wireless communication systems in rural markets in several states. The company was created through the take-private, leveraged buyout of Price Cellular. In 2000, ACC was acquired by a joint venture between AT&T and Dobson Communications.
American Sentinel University
Denver, CO
http://www.post.eduHealthcare Services & Technology
American Sentinel University is a regionally accredited online university that provides associates, bachelors, masters and doctorate programs in nursing, in partnership with hospitals and health systems nationwide. American Sentinel was merged with Post University in 2021.
Captivate
New York, NY
http://www.captivate.com/Media & Marketing Services
Captivate operates the leading office media network in the nation. Known for its vast network of 12,000 elevator and lobby displays located in premier office buildings across the U.S., Captivate brings life to work by connecting over 10 million unique monthly viewers to the world outside their office. By engaging its viewers with timely news and actionable information, Captivate provides advertisers with a highly desirable and difficult-to-reach audience of affluent and influential business professionals through creative, research-driven and Nielsen-measured advertising and marketing programs. Generation acquired the company in 2013 from Gannett Companies. Generation continues to own Captivate.
DataRx, Inc.
Atlanta, GA
http://www.data-rx.com/Healthcare Services & Technology
DataRx provides pharmacy benefit management solutions, health savings programs, and pharmacy technology services for insurance brokers, TPAs, employers, municipalities, HMOs, hospitals and pharmacy groups throughout the United States. The company was sold to a strategic acquirer in 2017.
DiscoverMusic
Seattle, WA
Media & Marketing Services
DiscoverMusic was the leading provider of music samples and other services to internet music retailers. The company had more than 100 internet clients, representing 90% of the internet’s music retailers at the time. DiscoverMusic built a unique database including millions of music samples encoded for streaming, album artwork and meta data. Generation co-founded the company, owned majority control. Loudeye Technologies acquired the company in March 2001.
Donuts
Bellevue, WA
http://donuts.co/Media & Marketing Services
Donuts is the world’s largest top level domain name registry bringing variety and choice to internet naming. Generation provided growth equity in and exited its investment in 2021 when Donuts was sold to Afilias.
High End Systems
Austin, TX
https://www.highend.com/Media & Marketing Services
High End is one of the world’s leading manufacturers of intelligent lighting systems for the music and entertainment industry. Intelligent lights are computer controlled automated luminaires that create a variety of lighting effects for concert and theater performances, television and movie productions, theme parks, and architectural purposes. Generation acquired a controlling interest in the company in 1998 and exited in 2008 when High End was acquired by Barco n.v.
HotJobs.com
New York, NY
https://www.monster.comBusiness & Information Services
HotJobs.com pioneered internet recruiting solutions, leveraging the internet to provide a direct exchange of information between job seekers and employers. Generation was the first institutional investor in the company in May 1999, led the company through its IPO and exited when HotJobs was subsequently sold to Yahoo in December 2001.
icrossing
Scottsdale, AZ
http://www.icrossing.comMedia & Marketing Services
iCrossing is a search engine marketing agency for Fortune 500 companies. iCrossing’s services include natural search engine optimization, paid search management, analytics, and other technology solutions. The Company’s customers included blue chips such as General Motors, FedEx Kinko’s, TJMaxx, Genworth Financial, Fairmount Hotels & Resorts, Restoration Hardware, Symantec, Motel 6, and Royal Caribbean. Generation led a growth equity investment in the company in 2005, and exited when the company was sold to Hearst Corp in June 2010.
Johnny Rockets
Irvine, CA
https://www.johnnyrockets.com/Business & Information Services
The Johnny Rockets Group operates and franchises Johnny Rockets restaurants. The restaurant’s have a distinctive design similar to a 1950s neighborhood dine and a high-quality menu of popular American fare such as hamburgers and milkshakes. Generation was a lead investor in the company. At the time of its sale, Johnny Rockets operated over 200 restaurants in 34 states and 8 countries.
LVI Services
New York, NY
https://www.northstar.com/Business & Information Services
LVI provides environmental remediation services such as asbestos abatement, lead paint abatement, mold remediation and biohazard facility cleaning. Generation acquired the business in a leveraged buyout in 1997. Under Generation’s ownership, the company grew substantially, through a combination of organic growth and add-on acquisitions. Generation sold the company in 2002.
Leaf Group
Santa Monica, CA
https://www.leafgroup.com/Media & Marketing Services
Leaf Group (formerly NYSE: LEAF) is a diversified Internet company that builds platforms across its marketplaces (Society6, Saatchi Art, Deny Designs, and The Other Art Fair) and various media properties (including Livestrong.com, eHow, and Cuteness) to enable communities of creators to reach passionate audiences in large and growing lifestyle categories. Generation was a founding investor in Demand Media, Leaf’s predecessor company, and exited though a public stock sale in 2021.
MedVance Institute
West Palm Beach, FL
http://medvance.edu/Healthcare Services & Technology
MedVance Institute is a for-profit post-secondary education provider focused on allied health training. The company offers Associate, Diploma and Certificate degrees in a variety of allied health programs including Surgical Technology, Radiologic Technology, Medical Assisting, Medical Coding Specialist, Medical Laboratory Technology, and Pharmacy Technician. Generation was the company’s first institutional investor in 2003 and exited at the time of its sale to a strategic buyer - Education Affiliates.
MethodCare
Chicago, IL
http://zirmed.com/Healthcare Services & Technology
MethodCare is a provider of SaaS-based predictive analytics and workflow solutions to hospitals and health systems. Its value proposition addresses several critical pain points across the revenue cycle (e.g., patient access, charge integrity, denials and A/R management) as well as the emerging population health management environment. In 2014, the company was combined with ZirMed.
Muzak
Charlotte, NC
http://us.moodmedia.com/Media & Marketing Services
Muzak was the world’s largest background music provider. A predecessor fund to Generation purchased the company from The Field Corporation in a leveraged buyout in 1992. Under the fund’s ownership, Muzak grew rapidly through a combination of organic sales as well as several add-on acquisitions. The investment was exited in 1998.
Office Media
Chicago, IL
https://www.captivate.com/Media & Marketing Services
Office Media Network, which featured The Wall Street Journal Office Network, was founded in 2006 and offered world-class content on digital signage screens in more than 750 premier office buildings across 15 top U.S. markets. The company was merged with Captivate in March 2014.
PayActiv
San Jose, CA
https://www.payactiv.com/Business & Information Services
PayActiv pioneered the Earned Wage Access industry and is transforming the way employees are paid. The company’s SaaS solution allows employees to access their earned wages any time between payroll periods. A Certified B-Corp, PayActiv is a mission-driven company whose vision is to bring financial security, dignity and savings to the millions experiencing financial stress. Generation was the company’s first institutional investor and continues to hold the investment.
Platform
Seattle, WA
https://www.comcasttechnologysolutions.com/Media & Marketing Services
thePlatform is a leading digital media company specializing in software and service solutions enabling rich media and video content to be published and distributed anywhere. The company built an impressive customer list which included: ABC News, Verizon, Oracle, Microsoft, Scripps, KPMG, Bank of America, and The Wall Street Journal. Generation led a venture capital investment in the company in 2000 and exited when Comcast Corporation acquired thePlatform in 2006.
Post University
Waterbury, CT
http://post.edu/Business & Information Services
Post University, founded in 1890, is a regionally accredited, degree granting university. Post offers Doctorate, Masters, Bachelor, and Associate Degrees as well as certificate programs. Post is an NCAA Division II university with 20 varsity sports teams. Generation acquired Post in 2004 and has led the transformation of the university’s culture, strategy, governance, technology, and business processes. Post has grown more than 15-fold from our original investment while driving improved student outcomes, delivering increasingly relevant academic programs to prepare students for the workforce and upholding the highest standards of accreditation. Generation continues to hold the investment.
Promatory Communications
Fremont, CA
Media & Marketing Services
Promatory designed ATM access switches for telecommunications carriers. The hardware was installed at a telephone company’s central offices to significantly increase bandwidth to their customers over the existing copper wire infrastructure. Nortel Networks acquired Promatory in March 2000.
ReCept Pharmacy
Dallas, TX
http://receptrx.com/Healthcare Services & Technology
Leveraging its 40+ year history of operating its own specialty pharmacies, ReCept builds and manages outpatient and specialty pharmacies for health systems, 340B/ FQHCs, and large physician practices. ReCept provides the following turnkey solutions to its managed pharmacies: design & build-out, licensing & accreditation, manufacturer programs, patient engagement and pull-through strategies, GPO-benefits, central filling services, and PSAO client services. Generation acquired ReCept from its founder in 2011, and it was acquired by Omnicell, Inc. (NASDAQ:OMCL) in 2021.
Remote Legal
New York, NY
http://www.remotelegal.com/Business & Information Services
Remote Legal is a mission-driven software & services company building a leading remote deposition and hearing platform. The company is pioneering efficiency in the legal process by improving access, lowering costs and increasing speed to equitable resolution for individuals and businesses. Generation was a founding investor in 2020, and continues to hold the investment.
Rightside
Kirkland, WA
http://www.rightside.co/Media & Marketing Services
Rightside (formerly Nasdaq: NAME) is a leading provider of domain name services, offering one of the industry’s most comprehensive platforms for the discovery, registration, usage, and monetization of domain names. Generation became a founding investor in the company though a growth equity investment in its predecessor – Demand Media. Generation exited the investment in 2017, when the company was sold to Donuts.
Scientific Games
Atlanta, GA
http://www.scientificgames.comBusiness & Information Services
Scientific Games (Nasdaq: SGMS) is the world’s largest scratch-off lottery ticket manufacturer. The founders of Generation, through a predecessor fund, acquired majority control of the company from Bally Manufacturing Corp. in 1990 and led the company through substantial growth and a successful IPO in 1993. An exit occurred through a secondary public share offering in 1995.
ShopWiki
New York, NY
http://www.shopwiki.com/Business & Information Services
ShopWiki is a leading internet technology company which developed an advanced shopping search engine – www.shopwiki.com. The Company’s technology helps consumers make better buying decisions by providing a fast and accurate way to find millions of products from hundreds of thousands of online stores globally, often producing the lowest available prices. Generation was a founding investor in 2006 and exited the investment when Oversee.net acquired ShopWiki in November 2010.
Sterling Talent Solutions
New York, NY
http://talentsolutions.com/Business & Information Services
Sterling is a leading provider of tech-enabled background, identity and compliance services. Its comprehensive suite of cloud-based background screening and identity solutions provide employers with critical information to hire high integrity people and create a safe workplace. With offices in 13 countries and growing, Sterling now serves over 40,000 customers around the world, including 50% of the Fortune 100. Generation became the company’s first institutional investor in 2003 and the company has grown more than 50-fold during Generation’s ownership. Generation exited the majority of the fund’s investment in 2012, however Generation remains an active shareholder and continues to serve on the board of the company.
TrueDialog
Austin, TX
http://www.truedialog.com/Media & Marketing Services
TrueDialog is an innovative communications-platform-as-a-service (CPaaS) company that builds technology to power scalable, personalized messaging solutions for enterprise businesses and educational & non-profit institutions. Generation was the first institutional investor in the company in 2011, and continues to hold the investment.
Virtual Radiologic (vRad)
Minneapolis, MN
http://virtualrad.com/Healthcare Services & Technology
Virtual Radiologic Corporation (formerly NASDAQ: VRAD) was an early pioneer in the telemedicine sector and grew to become the nation’s leading teleradiology services provider. JCAHO accredited, vRad is dedicated to providing radiology practices, hospitals, and imaging facilities with quality services that maximize the benefits of technology to support optimum patient care. Generation led a growth equity investment in 2005 and became the company’s first institutional investor. During Generation’s ownership Virtual Radiologic grew 10-fold and lowered costs to the healthcare system while improving quality metrics with scale through increased utilization of sub-specialists. vRad completed its IPO and was acquired by MedNax Health Solutions in 2015.
ZirMed, Inc.
Louisville, KY
http://www.zirmed.com/Healthcare Services & Technology
ZirMed empowers healthcare organizations to optimize revenue with the nation’s only comprehensive end-to-end platform of cloud-based financial and clinical performance management solutions. Products include claims and A/R management, charge integrity, patient access and engagement, and cost and utilization. Generation led a growth equity investment in the company and exited when the company was sold to Waystar in 2020.
