Portfolio Companies
Piper Sandler Merchant Banking
Status: All | Current | Exited
Industry: All | Business Services | Cleantech & Renewables | Consumer | Financial Technology & Services | Healthcare | Technology
| Sequence | Group | Status | Company & Description | Industry | Status |
| 60 | Legacy Portfolio (2008 - 2012) | Current |
 |
Technology | Portfolio Company |
| 300 | Paragon 28 | Current |
Paragon 28 is a medical technology company focused exclusively on creating solutions for medical conditions and ailments of the foot and ankle. The company distributes orthopedic implants, including plates, screws, staples and allograft bone systems, and surgical instrumentation designed specifically for use within the foot and ankle. |
Healthcare | IPO 2021 |
| 290 | Mike's Hot Honey | Current |
Mike’s Hot Honey has developed and sells chili pepper-infused honey, a specialty food product that has taken hold across the U.S. for its unique and attractive flavor profile, its favorable nutritional profile vs. sugar-based sweeteners and its emerging brand. The company’s product is made with honey and pickled chilies and can be deliciously paired with a wide variety of foods including pizza, chicken, vegetables, ribs, biscuits, salads, fruits, cheese and ice cream, as well as cocktails. |
Consumer | Portfolio Company |
| 280 | Akoya Biosciences | Current |
Akoya Biosciences offers comprehensive, end-to-end solutions for high-parameter tissue analysis from discovery through translational and clinical research, enabling the development of more precise therapies for immuno-oncology and other drug development applications. |
Healthcare | IPO 2021 |
| 270 | Portfolio Company | Current |
Clinicient operates a leading integrated clinical and financial software platform for outpatient therapy clinics. The company’s set of web-based solutions offer a comprehensive software platform designed specifically for physical, occupational and speech therapy practices. Clinicient complements its software platform with data-driven insights that enable therapists and their practice organizations to optimize their clinical and financial performance, aiding them in their transition to value-based care. |
Healthcare | Portfolio Company |
| 260 | Portfolio Company | Current |
Elligo Health Research, an integrated research organization, accelerates the timeline to enroll and complete clinical trials. The company’s clinical research platform provides trial sponsors with access to larger, more diverse patient populations, recruiting and enabling community healthcare practices and other healthcare providers which otherwise would not participate in clinical trials. |
Healthcare | Portfolio Company |
| 250 | Legacy Portfolio (2008 - 2012) | Current |
Foodsby operates an online meal ordering and bulk delivery logistics platform. The company’s online platform enables primarily suburban office workers to order lunch from local restaurants, delivered by the restaurant. Foodsby’s proprietary algorithms optimize supply and demand, and its delivery rules engine maximizes delivery efficiencies, restaurant profitability and consumer satisfaction. |
Technology | Portfolio Company |
| 240 | Current |
HemaSource combines proprietary inventory management software and data analytics with high quality medical products and strong customer service to create the leading medical disposables distribution business in the plasma collection market. |
Healthcare | Portfolio Company | |
| 230 | Current |
Cafe Rio is an emerging leader in the Mexican fast casual restaurant industry, building its brand with fresh, 100% made-from-scratch cooking without freezers and microwaves. Cafe Rio has attractive unit level economics, operating more than 120 units, primarily in the western half of the U.S. |
Consumer | Portfolio Company | |
| 220 | Current |
Xenex Disinfection Services operates in the disinfection technology market, developing, manufacturing and marketing a pulsed xenon disinfection robot, the Xenex LightStrike. Xenex LightStrike robots are designed to complement existing infection control protocols to reduce the level of pathogens often associated with an increased risk for healthcare-associated infections. In addition to infection rate reductions, users of the Xenex robots have found that LightStrike can improve hospital economics by reducing readmission rates and reimbursement penalties. |
Healthcare | Portfolio Company | |
| 210 | Piper Sandler Merchant Banking Fund I, L.P. (2012 - 2016) | Exited |
OrthoAccel Technologies, a medical device company, has developed and markets a mechanical pulsation device which is designed to accelerate orthodontic treatments, provide more predictable clinical outcomes and reduce patient discomfort. |
Healthcare | Acquired by  2020 |
| 200 | Piper Sandler Merchant Banking Fund I, L.P. (2012 - 2016) | Exited |
VPay provides a patented virtual card payment platform that streamlines claims payments for payers and service providers across verticals such as healthcare, auto warranty insurance and workers’ compensation. The company’s main product is the virtual card, an electronic card number that is transmitted to service providers to pay for medical and other claims-related services. The virtual card displaces less technologically-focused payment methods such as automatic clearing house and checks. Virtual cards provide multiple benefits for both payers and providers. |
Financial Technology & Services | Acquired by 2021 |
| 190 | Piper Sandler Merchant Banking Fund I, L.P. (2012 - 2016) | Current |
GutCheck is a leader in agile market research, providing qualitative and quantitative market research services for leading consumer marketing businesses. The company’s agile market research solution enables its clients to achieve product innovation success by delivering a complete understanding of their audiences. GutCheck does this through the Constellation product which pairs survey data and behavioral data at speed to efficiently explore market sentiment towards new products and advertising concepts, and to better understand shopper behavior in-store. |
Business Services | Portfolio Company |
| 180 | Piper Sandler Merchant Banking Fund I, L.P. (2012 - 2016) | Exited |
Lattice Engines is a leader in predictive marketing and sales solutions, offering Software-as-a-Service business applications that help companies market and sell more intelligently. Lattice’s cloud-based predictive marketing applications help businesses improve conversion rates at multiple stages of the customer acquisition funnel. In addition, the company offers solutions which assist its clients in engaging existing customers with the goal of renewing customer contracts, upselling and cross-selling. |
Technology | Acquired by 2019 |
| 170 | Piper Sandler Merchant Banking Fund I, L.P. (2012 - 2016) | Exited |
LogRhythm is a leading provider of unified security intelligence and analytics solutions, empowering organizations to automate the detection, prioritization and neutralization of cyber-threats that have penetrated the enterprise perimeter or originated from within. The company’s software platform, which sits at the intersection of advanced cyber-security and Big Data analytics, is designed to significantly reduce the time required to detect and respond to threats. |
Technology | Majority Interest Acquired by  2018 |
| 160 | Piper Sandler Merchant Banking Fund I, L.P. (2012 - 2016) | Exited |
Sport Ngin provides web and mobile-based software solutions for youth and amateur sports organizations. The company helps sports organizations manage, connect, communicate and transact with a range of stakeholders, including athletes, parents, administrators, coaches, referees, scouts, volunteers, fans and sponsors. The company also offers league, tournament and member management products including payment processing, organization data collection and team / athlete specific applications. |
Technology | Majority Interest Acquired by 2016 |
| 150 | Piper Sandler Merchant Banking Fund I, L.P. (2012 - 2016) | Exited |
Sapphire Digital empowers everyone to shop for their healthcare like an expert. Its integrated technology platform helps people select better, more affordable care. Sapphire markets transparency, incentive and engagement programs to health plans and their employer customers. Sapphire’s solutions achieve measurable and sustainable savings for consumers, employers and health plans. |
Healthcare | Acquired by  2021 |
| 140 | Piper Sandler Merchant Banking Fund I, L.P. (2012 - 2016) | Current |
MicroStar is the leading provider of comprehensive keg management services. MicroStar owns the largest independent keg fleet in the U.S., managing a pool of over 3.4 million kegs and providing the corresponding keg logistics needs for over 500 craft brewers and a growing number of large national brewers. MicroStar’s unique program offers customers a compelling value proposition by enabling them to avoid the investment needed to acquire and maintain an internal keg fleet and the burden of managing the reverse logistics of empty kegs, while benefiting from the efficiency of a shared asset model. |
Business Services | Portfolio Company |
| 130 | Piper Sandler Merchant Banking Fund I, L.P. (2012 - 2016) | Exited |
 Torax Medical develops and markets devices to restore human sphincter function. Its technology platform, Magnetic Sphincter Augmentation, uses attraction forces to augment weak or defective sphincter muscles to treat gastroesophageal reflux disease and fecal incontinence. |
Healthcare | Acquired by  2017 |
| 120 | Piper Sandler Merchant Banking Fund I, L.P. (2012 - 2016) | Exited |
Harvest Power is an end-to-end manager of organic waste material in North America. Harvest develops, builds, owns and operates facilities that process organic waste to produce soil enhancement products. Harvest generates revenues primarily from tipping fees and from consumer and bulk market product sales. |
Cleantech & Renewables | Acquired by  2017 |
| 40 | Legacy Portfolio (2008 - 2012) | Exited |
BioHorizons is a medical technology company focused on developing, manufacturing and marketing a broad line of innovative and evidence-based dental implants and biologics products for the replacement of missing teeth. The company’s implant products feature its proprietary Laser-Lok technology, which minimizes bone and soft tissue loss, frequent complications associated with conventional dental implant procedures. |
Healthcare | Acquired by  2013 |
| 90 | Legacy Portfolio (2008 - 2012) | Exited |
PerfectServe is a Software-as-a-Service company specializing in hospital and medical practice efficiency software. The company has created and markets a rules engine that efficiently manages calls and messages to and from physicians and physician groups, increasing productivity and minimizing the risks associated with lagged or failed communications. |
Healthcare | Acquired by  2018 |
| 100 | Legacy Portfolio (2008 - 2012) | Exited |
Living Proof is a technology-driven beauty company which participates in the hair care market selling various types of shampoo, hair cream, aerosols and mousses. Living Proof utilizes patented technology developed by the Langer Labs at MIT. |
Consumer | Acquired by  2017 |
| 60 | Legacy Portfolio (2008 - 2012) | Exited |
Aspen Aerogels utilizes nanotechnology to develop, manufacture and market aerogel blanket products for thermal management and energy conservation. The company serves various markets including oil & gas, building & construction and LNG shipping. |
Cleantech & Renewables | IPO 2014 |
| 30 | Legacy Portfolio (2008 - 2012) | Exited |
IDEV Technologies develops proprietary technology for treating blocked peripheral blood vessels using a patent protected stent and delivery system. IDEV’s stent, through its interwoven design, offers superior flexibility, radial strength, kink and crush resistance. |
Healthcare | Acquired by 2013 |
| 80 | Legacy Portfolio (2008 - 2012) | Exited |
TEI Biosciences and TEI Medical are leading biomedical companies applying expertise in regenerative medicine to develop and commercialize novel biologic products for a broad spectrum of soft tissue repair, regeneration and reinforcement applications–from plastic and reconstructive surgery to dura, tendon and hernia repair and wound management. |
Healthcare | Acquired by 2015 |
| 110 | Legacy Portfolio (2008 - 2012) | Exited |
StriVectin is an independent skin care brand focused on developing and marketing prestige products within the anti-aging segment and products providing treatment and prevention of skin damage through a patented technology. StriVectin is distributed through high-end and specialty retailers, as well as through Costco and direct marketing efforts. The company’s Niadyne products are sold at leading dermatologist offices and select medical spas. |
Consumer | Acquired by  2021 |
| 50 | Legacy Portfolio (2008 - 2012) | Exited |
Vidacare Corporation is a medical device company which produces a patented product (EZ-IO) that allows clinicians to access the interior of bones (the intraosseous space) to provide vascular access during patient trauma and for biopsy, aspiration, drug delivery and spinal access. |
Healthcare | Acquired by  2013 |
| 10 | Legacy Portfolio (2008 - 2012) | Exited |
Tornier N.V. develops orthopedic medical devices designed to restore function and return patients to an active and healthy lifestyle. The company’s product portfolio includes shoulder arthroplasty prostheses, total ankle prostheses and foot and hand products for reconstructive foot surgery and wrist fracture repair. |
Healthcare | IPO 2011 |
| 20 | Legacy Portfolio (2008 - 2012) | Exited |
Salient Surgical Technologies develops and markets surgical products based on its proprietary Transcollation technology for the sealing of blood vessels and other collagen-based structures. |
Healthcare |
Acquired by
2011 |
| 70 | Legacy Portfolio (2008 - 2012) | Exited |
Ecore International is one of the largest manufacturers of recycled rubber products in North America. The company offers products for commercial flooring, performance flooring, playground safety surfacing, land securement, synthetic turf systems and impact sound underlayments. |
Cleantech & Renewables | Position Redeemed 2015 |
