Clearlake Capital Closes Pair of Key Acquisitions

Portfolio company Perforce buys Perfecto Mobile; Clearlake + Angeles nab Meek’s Lumber

Palo Alto – October 24, 2018 – Cooley recently advised private investment firm Clearlake Capital Group and its subsidiary Perforce Software on two separate acquisitions involving Perfecto Mobile and Meek’s Lumber Company. Partner Mehdi Khodadad led the Cooley teams advising Clearlake on the transactions.

In early October, Cooley advised Perforce on its acquisition of Perfecto Mobile, a market leader in cloud-based automated mobile and web application test software solutions.

“With this strategic acquisition, Perforce is well positioned to capitalize on the significant market trends around demand for continuous testing from enterprise DevOps teams,” Prashant Mehrotra, a partner at Clearlake, said in a news release. “We are excited to continue our support of Perforce CEO Mark Ties and the Perforce management team as they drive consolidation in the industry and accelerate organic growth.”

Perforce, a global provider of enterprise-grade DevOps-focused software solutions, expects the Perfecto acquisition to augment its software portfolio with additional capabilities for enterprise DevOps teams to achieve continuous testing at scale across web, mobile and internet-of-things applications.

Separately, in September, Cooley advised Clearlake on its acquisition of building products distributor Meek’s. Clearlake teamed up with Angeles Equity Partners on the Meek’s purchase.

“Clearlake is delighted to partner with the Meek’s management team, the Meek family and Angeles as the stewards of a storied business with a long history of service and innovation,” said José E. Feliciano, co-founder and managing partner of Clearlake, and James Pade, principal of Clearlake, in a news release. “We are committed to providing additional capital, leveraging extensive relevant experience and supporting operational best practices.”

Clearlake and Angeles have formed American Construction Source to acquire Meek’s and additional lumber and building materials businesses to create a leading national building products distributor with the resources, leverage and focus to deliver the best customer experience.

Cooley has a longstanding relationship with Clearlake, advising the firm on various deals and portfolio matters since 2011. In February, Cooley advised Clearlake on its acquisitions of Perforce and ProVation Medical.

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Mehdi Khodadad Partner, Palo Alto
Josh DuClos Partner, Los Angeles
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Stacy Crosnicker Associate, Reston
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Samantha LaPine Partner, San Diego
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Mergers & Acquisitions Software Cloud Solutions