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 |
| 30 | Moxe | Current |
 |
Healthcare | Portfolio Company |
| 23 | Infinicept | Current |
 |
Financial Technology & Services | Portfolio Company |
| 60 | Legacy Portfolio (2008 - 2012) | Current |
 |
Technology | Portfolio Company |
| 300 | Paragon 28 | Current |
Paragon 28 is a leading medical device company exclusively focused on the foot and ankle orthopedic market and is dedicated to improving patient lives. The company’s innovative orthopedic solutions, procedural approaches and instrumentation cover a wide range of foot and ankle ailments including fracture fixation, hallux valgus (bunions), hammertoe, ankle, progressive collapsing foot deformity or flatfoot, charcot foot and orthobiologics. The company’s broad suite of surgical solutions comprises 72 product systems, including approximately 8,700 stock keeping units (“SKUs”) to help fit the specific needs of each patient and procedure. Paragon 28 designs each of its products with both the patient and surgeon in mind, with the goal of improving outcomes, reducing ailment recurrence and complication rates, and making the procedures simpler, consistent and reproducible. |
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. The company sells its product across several channels including foodservice (including many independent and regional pizzerias), retail (including Whole Foods, Walmart and many regional grocery chains) and online (primarily through Amazon). |
Consumer | Portfolio Company |
| 280 | Akoya Biosciences | Current |
Akoya Biosciences is an innovative life sciences technology company delivering spatial biology solutions focused on transforming discovery and clinical research. The company’s mission is to deliver a revolutionary new class of spatially derived biomarkers that empower life sciences researchers to better understand disease and clinicians to improve patient outcomes. Through its CODEX and Phenoptics platforms, reagents, software and services, Akoya offers end-to-end solutions to perform tissue analysis and spatial phenotyping across the full continuum, from discovery through translational and clinical research. |
Healthcare | IPO 2021 |
| 260 | Portfolio Company | Current |
Elligo Health Research, a healthcare-enabling research organization powered by its novel IntElligo Research Stack technology, uses electronic health records and the trusted patient and physician relationship to ensure all patients have access to clinical research as a care option. The company engages physicians and patients who otherwise would not participate in clinical research and accelerates the development of new pharmaceutical, biotechnology and medical device and diagnostic products. |
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 a delivered lunch from local restaurants. Foodsby’s proprietary algorithms optimize supply, demand and delivery rules to maximize order volume, 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 141 units in 11 states, 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 (“HAIs”). Xenex LightStrike robots destroy a wide variety of pathogens, including SARS-CoV-2, the virus that causes COVID-19. |
Healthcare | Portfolio Company | |
| 210 | Piper Sandler Merchant Banking Fund I, L.P. (2012 - 2016) | Exited |
Clinicient operates a leading integrated clinical and financial software platform for outpatient therapy clinics. The company’s web-based solutions offer a comprehensive software platform designed specifically for physical, occupational and speech therapy practices. In addition to its flagship software platform, the company sells an industry-leading patient engagement software solution through its Keet subsidiary, helping clinics move to value-based healthcare. |
Healthcare | Acquired by  2022 |
| 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 lead product is the virtual card, an electronic card number that is transmitted to service providers to pay for medical and other claims-related services. |
Financial Technology & Services | Acquired by 2021 |
| 190 | Piper Sandler Merchant Banking Fund I, L.P. (2012 - 2016) | Current |
GutCheck provides qualitative and quantitative market research services for leading consumer marketing businesses. The company brings agile to audience analytics and research with tech-enabled service. GutCheck does this through the Illumination product line which leverages advanced technology and research expertise to explore market sentiment towards new products and advertising concepts. |
Business Services | Portfolio Company |
| 180 | Piper Sandler Merchant Banking Fund I, L.P. (2012 - 2016) | Exited |
Lattice Engines offers predictive marketing and sales software to help companies market and sell more intelligently. Lattice’s cloud-based predictive marketing applications help businesses improve sales conversion rates at multiple stages of the customer acquisition funnel. In addition, the company’s solutions 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 provides 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 enterprise. The company’s software platform 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 its customers 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 Logistics is the leading diversified keg solutions provider. MicroStar’s keg management division leverages two pools of kegs—KegCraft-branded kegs for midsize, regional brewers and MicroStar-branded kegs for large, national brewers—to deliver cost-effective outsourced keg solutions. MicroStar’s Quality Services division is the leading keg repair and maintenance operation helping to maintain the quality and lengthen the lifespans of some of the largest keg fleets in the world. |
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 develops and markets a broad spectrum of advanced dental implant technologies and tissue regeneration products, including dental implants, restorative and laboratory components, soft and hard tissue biologic products and surgical planning software. The company’s unique dental implant designs are recognized for intuitive design, excellent primary stability, and high-end, aesthetic outcomes through the use of BioHorizons’ proprietary Laser-Lok® microchannel surface technology. |
Healthcare | Acquired by  2013 |
| 90 | Legacy Portfolio (2008 - 2012) | Exited |
PerfectServe provides a secure messaging and collaboration platform for clinicians. The company’s rules engine 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 an innovative premium haircare business renowned for solving hair problems through the use of breakthrough science. The company 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 for treatment and prevention of skin damage, through patented technology. StriVectin is distributed through high-end and specialty retailers, as well as through Costco and direct marketing efforts. |
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 |
