Grain buys Great Plains Communications :
Grain Management LLC has acquired Nebraska-based Great Plains Communications, a telecommunications provider. No financial terms were disclosed. TD Securities served as financial adviser to Grain on the deal while UBS Investment Bank did likewise for Great Plains Communications.
Astorg and Montagu to control health devices supplier Nemera: Reuters :
French private equity firm Astorg on Wednesday said it had reached an agreement to acquire a majority stake in health devices manufacturer Nemera from Montagu Private Equity, with Nemera to be jointly controlled by Astorg and Montagu.
Acadia Healthcare in talks with private equity firms, say sources: Reuters :
Acadia Healthcare Co Inc (ACHC.O), a U.S. operator of behavioral health centers, is in talks with private equity firms about selling itself after attracting buyout interest, sources told Reuters.
Great Hill acquires Dorian Business Systems :
Great Hill Partners LLC has acquired Garland, Texas-based Dorian Business Systems Inc, a developer of web-based software for the music education sector. No financial terms were disclosed. Generational Equity advised Dorian on the deal.
STG invests in AFS Technologies :
STG Partners has made an investment in AFS Technologies Inc, a provider of software solutions purpose-built for consumer goods manufacturers, food distributors and sales agencies. No financial terms were disclosed. TPG Specialty Leading, which first invested in AFS in 2011, will retain a "meaningful" ownership stake in AFS.
Vector to sell Triton to E.W. Scripps for $150 mln :
E.W. Scripps Co said Oct. 17 that it is buying Triton for $150 million. Vector Capital is the seller. Triton, of Sherman Oaks, California, provides software to the digital audio marketplace. Moelis & Company advised Triton.
Crestview to buy Elo from Gores :
Crestview Partners has agreed to acquire Elo Touch Solutions from The Gores Group. No financial terms were disclosed. The deal is expected to close during the fourth quarter of this year. Moelis & Company LLC was financial adviser to Elo and Gores on the transaction. Based in Milpitas, California, Elo is an information and communications technology services and solutions provider.
Devonshire Investors buys NovoEd :
Devonshire Investors has acquired San Francisco-based NovoEd, a provider of social and collaborative online learning for the enterprise. No financial terms were disclosed. District Capital Partners provided financial advice to NovoEd on the deal.
Riverside acquires Applied Logic as an add-on :
The Riverside Company has acquired Applied Logic Inc as an add-on for its Censis Technologies platform. No financial terms were disclosed. St. Louis-based Applied Logic is a surgical software provider.
Altas to invest in H&F-backed Hub :
Toronto-based investment firm Altas Partners has agreed to make a minority investment in Hub International Limited, a Chicago-based insurance brokerage. The transaction will put Hub at an implied valuation of over $10 billion. Hellman & Friedman will continue to be Hub's largest investor. The deal is expected to close before the end of the year.
LLR invests in Edlio :
LLR Partners has made an investment in Los Angeles-based Edlio, a provider of community engagement solutions for K-12 public, private and charter schools. No financial terms were disclosed. Berkery Noyes advised Edlio on the transaction.
Pretium to acquire Selene from Oaktree and Ranieri :
Pretium Partners, an investment management firm focused on residential real estate, mortgage finance and corporate credit, has agreed to acquire Selene from Oaktree Capital Management LP and Ranieri Partners LLC. No financial terms were disclosed. The deal is expected to close in the middle of 2019. Houlihan Lokey provided financial advice to Selene on the deal while Buckley Sandler LLP served as legal counsel. And, Sidley Austin LLP acted as legal counsel to Pretium. Based in Houston, Selene is the parent company of Selene Finance LP, a residential mortgage servicing company.
Shamrock Capital acquires songwriting duo Stargate’s music publishing catalog :
Shamrock Capital has acquired Stargate's music publishing catalog. No financial terms were disclosed. Stargate is a songwriting and publishing duo comprised of Tor Hermansen and Mikkel Eriksen. The catalog includes Grammy Award-nominated songs that have been recorded by top artists such as Katy Perry, Rihanna and Beyonce.
MCA invests in Ventech :
Michigan Capital Advisors has made an investment in Michigan-based Ventech, a developer of the Liquid Heat Generator. No financial terms were disclosed.
Centre Partners invests in Guy & O’Neill :
Centre Partners said Oct. 16 that it invested in Guy & O'Neill Inc. Financial terms weren’t announced. Guy & O’Neill, of Fredonia, Wisconsin, makes and develop household cleaning and personal care products.
Summit Partners invests $67 mln in Syncron :
Syncron said Oct. 16 that Summit Partners has made a $67 million minority investment. Syncron, of Stockholm, provides cloud-based after-sales service solutions for manufacturers.
Cavalli owner hires Rothschild to find minority partner, say sources: Reuters :
Private equity Clessidra has hired Rothschild to look into the option of finding a minority partner for fashion group Roberto Cavalli to help fund growth, two sources familiar with the matter said on Monday, confirming earlier press reports.
Veritas Capital to buy Cambium for $14.50 per share :
Veritas Capital has agreed to acquire Cambium Learning Group from Veronis Suhler Stevenson for $14.50 per share. The deal is expected to close in the fourth quarter of 2018 or the first quarter of 2019. Macquarie Capital was financial adviser to Cambium on the deal with Lowenstein Sandler LLP providing legal advice. And, Schulte Roth & Zabel LLP served as legal counsel to Veritas Capital. Cambium is a provider of educational technology solutions.
Auxo invests in Prestige Stamping :
Auxo Investment Partners has made an investment in Michigan-based Prestige Stamping Inc, a maker of stampings for the fastener industry. No financial terms were disclosed for the deal that was done in partnership with the Rink family.
Evergreen sells Gene Juarez Salons & Spas to Transom :
Transom Capital Group has acquired Seattle-based Gene Juarez Salons & Spas, a fashion and beauty brand, from Evergreen Pacific Partners. No financial terms were disclosed. O’Melveny was M&A counsel for Transom Capital on the deal while D.A. Davidson & Co. served as financial adviser to Gene Juarez.
Arcapita invests in Saudi Arabian women’s fitness chain NuYu :
Arcapita has made an investment in NuYu, a women's fitness chain in Saudi Arabia. No financial terms were disclosed.
Carlyle, Meinian Onehealth Healthcare invest in Adicon Holding :
Carlyle Group and Meinian Onehealth Healthcare have invested in Adicon Holding Ltd. Financial terms weren’t announced. Adicon operates 20 diagnostic laboratories in China, offering diagnostic testing outsourcing services to more than 10,000 active customers, including hospitals, clinics and contract research organizations (CROs) in 28 provinces.
Carlyle to buy Apollo Aviation Group :
Carlyle Group said Oct. 15 that it agreed to buy Apollo Aviation Group (AAG), which has $5.6 billion in assets under management including 243 aircraft owned, managed or committed to purchase. AAG will become a new business line, operating as Carlyle Aviation Partners Ltd., within Carlyle’s Global Credit Segment.
McClatchy seeks help from Apollo for Tribune bid: New York Post :
McClatchy Co has approached Apollo Global Management to help shore up its bid for Tribune Publishing, the New York Post is reporting. McClatchy is approaching Apollo for debt financing, rather than asking it be co-owner, the story said.
EagleTree Capital buys majority of Gaylord Chemical :
EagleTree Capital has acquired a majority of Gaylord Chemical Co LLC. Financial terms weren’t announced. Gaylord CEO Paul Dennis, and other existing shareholders, will retain a stake. Alberta Teachers’ Retirement Fund Board and Farol Asset Management are investing in Gaylord alongside EagleTree. Gaylord, of Slidell, Louisiana, is a specialty chemical producer.
SmileDirectClub raises $380 mln :
SmileDirectClub said Oct. 10 that it completed a $380 million private placement led by Clayton, Dubilier & Rice. Kleiner Perkins and Spark Capital also invested. SmileDirectClub, of Nashville, provides invisible aligners to straighten teeth. J.P. Morgan served as placement agent to SmileDirectClub in connection with the transaction. Adam Phillips, Jonathan Manor and Karen Lee of Kirkland & Ellis represented CD&R.
Spectrum Equity buys majority of AllTrails :
Spectrum Equity said Oct. 11 that it has acquired a majority of AllTrails. Financial terms weren’t announced. AllTrails, of San Francisco, provides a digital guide to the outdoors. AllTrails was advised by Stubbs Alderton & Markiles while GP Bullhound served as financial adviser. Spectrum Equity was advised by Latham & Watkins.
Trive and Five Crowns recap Picture Head :
Trive Capital and Five Crowns Capital have recapitalized Los Angeles-based Picture Head, a provider of critical post-production content editing, finishing and storage services for leading feature film, episodic TV and other media studios. No financial terms were disclosed.
Endless buys European golf retailer American Golf :
UK-based private equity firm Endless has acquired European golf retailer American Golf. No financial terms were disclosed.
Pacific Current Group exits Aperio :
Pacific Current Group Ltd said Oct. 4 that it closed the sale of its stake in Aperio Group. Pacific Current received $71.9 million in pre-tax proceeds and expects to receive another $2.6 million. Pacific Current invested in Aperio, a Sausalito, California investment management firm, in 2015, according to press reports. Golden Gate Capital acquired a majority of Aperio in August.
MBF to take a majority stake in Affinity Hospice :
MBF Healthcare Partners has agreed to acquire a majority stake in Birmingham, Alabama-based Affinity Hospice, a provider of hospice care services. No financial terms were disclosed. The deal is expected to close in November.
KKR acquires Minnesota Rubber and Plastics from NEP :
KKR has acquired Minnesota Rubber and Plastics from Norwest Equity Partners. No financial terms were disclosed. The deal is expected to close by the end of the year. Benesch, Friedlander, Coplan & Aronoff LLP advised KKR on the transaction while Houlihan Lokey, Skadden, Arps, Slate, Meagher & Flom LLP and Ballard Spahr LLP advised MRP and NEP. MRP is a provider of elastomer and thermoplastic solutions.
Eden Capital buys Tour de Force :
Eden Capital has acquired Findlay, Ohio-based Tour de Force, a provider of customer relationship management, sales force automation, business intelligence and business process optimization software solutions. No financial terms were disclosed. Perkins Coie LLP served as legal adviser to Eden while Elm Park Capital provided debt financing for the transaction.
Nazca Capital buys Herbex :
Nazca Capital has acquired Spain-based Herbex, a provider of fresh aromatic herbs. No financial terms were disclosed.
TSSP and Dyal invest in Bardin Hill :
TPG Sixth Street Partners and Dyal Capital Partners have invested in Halcyon Capital Management, an investment management firm. No financial terms were disclosed. Halcyon is changing its name to Bardin Hill Investment Partners.
Advent invests in Manjushree :
Advent International has made an investment in India-based Manjushree Technopack Ltd, a rigid plastic packaging solutions provider. No financial terms were disclosed. As part of the deal, Advent acquired all the shares in Manjushree owned by Kedaara Capital and a portion of the Kedia family’s stake in Manjushree Technopack.
Apollo commits another $700 mln to Catalina Holdings :
Catalina Holdings said Oct. 11 that Apollo Global Management has committed an additional $700 million in equity capital. Apollo, with the deal, has a majority of Catalina while RenaissanceRe Holdings Ltd has a minority. Apollo initially invested in Catalina December 2013. In 2017, Apollo acquired a majority of Catalina, a consolidator in the non-life insurance/reinsurance run-off sector. Perry Shwachman and Fatema Orjela of Sidley Austin advised Apollo.
Hentsu scores funding :
Hentsu, a provider of public cloud technology to hedge funds and asset managers, has raised an undisclosed amount of funding. The lead investor was Credit Suisse Asset Management’s NEXT Investors. Falconwood Corporation and Raptor Group Holdings also participated in the financing.
Greenbriar buys Spireon from Bertram :
Greenbriar Equity Group has acquired Spireon Inc from Bertram Capital. No financial terms were disclosed. Spireon is a provider of vehicle analytics and telematics solutions for the automotive and commercial transportation sectors.
Mirac lands $7.55 mln :
Ohio-based Mirac Inc, an electronics assembly and fabrication company, has secured $7.55 million in funding. The investor was Advantage Capital.
KKR completes take-private buyout of Envision :
KKR has closed its take-private acquisition of Envision Healthcare Corp for $46 per share. As a result of the closing, Envision will stop trading on the New York Stock Exchange. Based in Nashville, Envision is a provider of physician-led services and post-acute care and ambulatory surgery services.
Abry backs Lighthouse Autism Center :
Abry Partners has made an investment in Indiana-based Lighthouse Autism Center, a provider of center-based applied behavioral analysis therapy. No financial terms were disclosed. The Braff Group was financial adviser to Lighthouse on the deal while Parker Poe Adams & Bernstein provided legal advice. And, DLA Piper advised Abry.
EagleTree takes majority stake in FuseFX :
EagleTree has acquired a majority stake in FuseFX, an independent visual effects studio that provides services for episodic television, feature films, commercials and VR productions. No financial terms were disclosed.
Palladium Equity to buy Kymera from Platinum Equity :
Palladium Equity Partners has agreed to buy Kymera International from Platinum Equity. Financial terms weren’t announced. Kymera, of Research Triangle Park, North Carolina, is a group of company that produce specialty materials, powders, pastes and granules used in a wide range of metallurgical, chemical and industrial processes.
Centerfield invests in EMPI :
Centerfield Capital Partners has invested in EMPI. Financial terms weren’t announced. EMPI, of Anaheim, California, makes and distributes branded automotive aftermarket parts for vintage Volkswagen vehicles, modern Volkswagen vehicles, and other vehicle brands.
PSP Investments sells stakes in Forth Ports :
The Public Sector Pension Investment Board said Oct. 11 that it closed the sale of minority stakes in Forth Ports Ltd to GLIL Infrastructure, First State Super, and Construction and Building Unions Superannuation. Financial terms weren’t announced. Forth Ports, of the U.K., is multimodal ports owner and operator.
VELUX to buy JET-Group :
VELUX A/S said Oct. 11 that it agreed to buy JET-Group from Egeria. Financial terms weren’t announced. JET-Group, of Hüllhorst, Germany, is a provider of industrial roof light systems.
Marlin acquires Total Defense :
Marlin Equity Partners has completed the acquisition of Total Defense, a New York-based provider of subscription-based endpoint security software, including virus and malware protection. No financial terms were disclosed. Marlin will merge Total Defense with portfolio company AppRiver.
PE-backed Lifemark raises financing from Northleaf :
Northleaf Capital Partners has made an investment in Toronto-based Lifemark Health Group, a provider of physiotherapy, independent medical assessments and homecare services in Canada. Lifemark is a portfolio company of Audax Private Equity.
MBF invests in Rose Dental, forms Strive Dental Management :
MBF Healthcare Partners has made an investment in Austin, Texas-based Rose Dental Group, a dental group. In conjunction with transaction, MBF has formed Strive Dental Management LLC, a dental service company. Rose Dental and Strive have partnered up to provide DSO capabilities for dental practices in the U.S.
Riverside exits BeneSys :
The Riverside Company has sold Troy, Michigan-based BeneSys, a provider of third-party administration services for employee healthcare and pension benefit programs for Taft-Hartley multiemployer plans. No financial terms were disclosed. KPMG, Jones Day and Deloitte advised Riverside on the deal.
39 North Capital acquires Tucson area restaurant chain eegee’s :
39 North Capital has acquired Tucson, Arizona-based eegee's, a quick service restaurant chain. No financial terms were disclosed for the deal that was done in partnership with eegee's CEO C. Ron Petty. McDermott, Will & Emery LLP provided legal advice to 39 North on the deal while DelMorgan & Co. served as financial adviser to eegee's with Snell & Wilmer providing legal services.
FFL Partners invests in Accordion :
FFL Partners has made an investment in Accordion, a private equity-focused financial consulting and technology firm. No financial terms were disclosed.
PE firm Thoma Bravo to take Imperva private in $2.1 billion deal: Reuters :
Cybersecurity company Imperva Inc (IMPV.O) said on Wednesday it will be taken private by Thoma Bravo LLC in an all-cash deal valued at $2.1 billion.
GCP backs analytics software firm Tresata :
Charlotte, North Carolina-based Tresata, an analytics software company, has secured $50 million in funding. The investor was GCP Capital Partners.
Blackstone, Hellman explore $17 bln Nielsen bid: Financial Times :
Blackstone and Hellman & Friedman are leading a group that is exploring a bid to buy Nielsen, which could sell for $17 billion, the Financial Times is reporting. CPPIB from Canada and GIC of Singapore are also part of the group that is exploring a buy of the TV ratings provider, the story said. If successful, the deal would return Nielsen to its previous owners. Blackstone and H&F, along with Carlyle, took Nielsen private in 2006.
Thoma Bravo closes Apttus investment :
Thoma Bravo has completed its majority investment in Apttus. The deal was previously announced. Apttus, of San Mateo, provides middle office software.
Co-Investments: protecting your investment :
By Lisa Peterson, Akin Gump Fund sponsors see co-investment opportunities as a way to mitigate fundraising challenges, recruit strategic partners and develop strong relationships. Some sophisticated fund investors, including institutions, family offices and high-net-worth individuals, leverage co-investments to increase exposure to high-quality managers, with an improved risk/return profile and more diversification, at a lower cost. […]
SoftBank upping bet on loss-making WeWork with possible majority stake: Reuters :
Japan’s SoftBank Group Corp
) is in discussions to buy a majority stake in U.S. shared office space provider WeWork Cos
, a source said, potentially doubling down on one of its biggest bets on a loss-making startup, Reuters reported.
Mason Wells acquires Structural Concepts Corporation :
Mason Wells has acquired Muskegon, Michigan-based Structural Concepts Corporation, a maker of temperature-controlled food and beverage display cases for food service establishments and supermarkets. No financial terms were disclosed.
AEI acquires Atlas, will merge it with FMI :
AE Industrial Partners LP has acquired Wichita, Kansas-based The Atlas Group, a maker of complex assemblies for commercial, military and business aircraft. No financial terms were disclosed. PricewaterhouseCoopers LLP provided financial advice to AEI on the transaction with Kirkland & Ellis LLP serving as legal adviser. Lazard was financial adviser to Atlas while Dechert LLP was legal adviser. As a result of the deal, AEI is merging Atlas with portfolio company FMI.
MPK recaps Sola Salon Studios :
MPK Equity Partners has recapitalized Denver-based Sola Salon Studios, an franchisor and operator of salon suites. No financial terms were disclosed for the transaction that was done in partnership with AHR Growth Partners and PNC Riverarch Capital.
DistroKid attracts capital from Silversmith :
Silversmith Capital Partners has made an investment in DistroKid, a provider of SaaS-based software for independent musicians and record labels. No financial terms were disclosed.
HealthEdge, Brook Venture and Eagle Private Capital buy ITRAC :
HealthEdge Investment Partners, Brook Venture Partners and Eagle Private Capital have acquired Eugene, Oregon-based ITRAC, a provider of technology-enabled practice optimization solutions to dental practices. No financial terms were disclosed.
Peak Rock acquires Louisiana Fish Fry :
Peak Rock Capital has acquired Louisiana Fish Fry, a maker of branded, Louisiana-inspired food products. No financial terms were disclosed.
Bain Capital Double Impact to form Arosa+LivHOME :
Bain Capital Double Impact, Bain Capital's impact investing business, has acquired two regional healthcare companies to form Arosa+LivHOME, an in-home care provider for older adult Americans and their families. Ari Medoff, owner and CEO of Arosa, will lead the combined company.
Frontier Capital funds PriceSpider :
Frontier Capital has made an investment in Irvine, California-based PriceSpider, a provider of consumer conversion intelligence and brand optimization software to some of the world’s largest brand manufacturers. No financial terms were disclosed. Houlihan Lokey provided financial advice to PriceSpider on the transaction.
Bertram Capital backs Best Version Media :
Bertram Capital has made an investment in Brookfield, Wisconsin-based Best Version Media, a hyper-local media and marketing company. No financial terms were disclosed.
TPG invests in FreedomPay :
TPG has made an investment in FreedomPay, a commerce platform. No financial terms were disclosed. RBC Capital Markets provided financial advice to TPG in this transaction.
H.I.G., General Atlantic to exit FNZ in 1.65 bln pound sale :
H.I.G. Capital said Oct. 9 that it agreed to sell its stake in FNZ to Caisse de Depot et Placement du Quebec and Generation Investment Management LLP. The deal was valued at 1.65 billion pounds ($2.15 billion). FNZ, of Edinburgh, U.K., is a Platform-as-a-Service provider to the European wealth management industry. UPDATE: General Atlantic, which invested in FNZ in 2012, is also selling its holding.
Rock Hill Capital invests in TMCo :
Rock Hill Capital Group said Oct. 9 that it closed a majority recap of TMCo Inc. Financial terms weren’t announced. TMCo, of Houston, makes orifice fittings, a type of differential pressure meter which measures the rate of flow, for use in the oil and gas industry.
Apollo, Bain get extension on RPC takeover talks: Bloomberg :
Apollo Global Management LLC and Bain Capital have until 5 pm on Nov. 5 to make a firm offer for U.K. packaging company RPC Group Plc, Bloomberg is reporting. RPC received an extension on takeover negotiations from the U.K.’s Panel on Takeovers and Mergers, the story said. RPC has a market value of 3.2 billion pounds ($4.2 billion).
Better deal-sourcing trend continues :
Increasing emphasis on deal origination as a core competency in private equity translated into better deal-sourcing results, per Sutton Place Strategies’ 2018 Deal Origination Benchmark Report analysis. The DOBR is an annual report that compares the market coverage of a PE firm – the percentage of relevant, completed PE transactions with a sell-side adviser that […]
Cairngorm Capital to buy Helix Tool Co :
Cairngorm Capital Partners LLP said Oct. 9 that it has acquired Helix Tool Co Ltd. Financial terms weren’t announced. Helix Tool, of the U.K., is a cutting tools specialist.
New Water Capital invests in Perfect Bite :
New Water Capital LP has invested in The Perfect Bite Co. Financial terms weren’t announced. Perfect Bite, of Glendale, California, develops recipes and products for national grocery and club brands, as well as airlines and other hospitality companies.
Canada’s CDPQ, Al Gore’s Generation buy majority stake in fintech firm FNZ: Reuters :
Canada’s second-largest pension fund CDPQ and Generation Investment Management LLP said on Tuesday they were buying a majority stake in UK-based fintech firm FNZ in a deal valuing FNZ at 1.6 billion pounds ($2.09 billion), Reuters reported.
Align Capital recaps iPROMOTEu :
Align Capital Partners has recapitalized Massachusetts-based iPROMOTeu, a tech-enabled business process outsourcing provider for the promotional products industry. No financial terms were disclosed.
Stada, buyout funds in race for Bristol-Myers’ French business, say sources: Reuters :
German generic drugmaker Stada (STAGn.DE) is vying with a group of European buyout funds for control of Bristol-Myers Squibb’s (BMY.N) French over-the-counter drugs business, sources told Reuters.
Britain’s RPC gives rival suitors Apollo and Bain more time to bid: Reuters :
Plastic packaging maker RPC Group (RPC.L) said on Monday that it had given two private equity firms that are considering rival takeover offers more time to make bids.
Bain Capital to buy majority stake in Rocket Software :
Bain Capital Private Equity has agreed to acquire a majority stake in Waltham, Massachusetts-based Rocket Software, a provider of enterprise modernization and optimization solutions. The value of the deal is about $2 billion. The deal is expected to close during the fourth quarter of 2018. Rocket Software is currently owned by Court Square Capital Partners.
Valore Ventures and Grays Peak Capital buy McMurray Stern :
Valore Ventures and Grays Peak Capital have acquired Santa Fe Springs, California-based McMurray Stern Inc, a provider of storage, workplace and records management solutions. No financial terms were disclosed.
Ardian to sell ADA International to Moonlake Capital :
Ardian has agreed to sell ADA International, a European maker of hotel cosmetics, to Moonlake Capital. No financial terms were disclosed.
RLJ takes majority stake in Crossfuze :
RLJ Equity Partners LLC has acquired a majority stake in Crossfuze LLC from Palladian Capital Partners. No financial terms were disclosed. Based in Buffalo, New York, Crossfuze is an enterprises services company.
Silver Oak recaps Integrated Oncology Network :
Silver Oak Services Partners LLC has recapitalized California-based Integrated Oncology Network LLC, a physician management, radiation oncology management and cancer center development company that partners with hospitals and physicians. No financial terms were disclosed. JMP Securities LLC provided financial advice to ION on the transaction.
Apollo to acquire GE Energy Financial Services equity portfolio :
Apollo Global Management has agreed to acquire an approximately $1 billion portfolio of equity investments from GE Capital's Energy Financial Services unit. The portfolio includes about 20 investments in renewable energy, contracted natural gas fired generation and midstream energy infrastructure assets, mostly in the U.S. No financial terms were disclosed. The deal is expected to close in the fourth quarter of 2018. Bank of America Merrill Lynch and PJT Partners provided financial advice to GE Capital on the transaction while Citigroup Global Markets Inc. served as lead financial adviser to Apollo with RBC Capital Markets and Goldman Sachs also providing financial advice.
Goldman’s Petershill nears stake in General Catalyst Partners: Bloomberg :
Goldman Sachs’ Petershill unit is near a deal to buy a stake in General Catalyst Partners, Bloomberg reported. The transaction, if reached, would be Petershill’s first investment in a venture firm, the story said.
Large private equity consortium forms for Arconic bid: Reuters :
Blackstone Group LP (BX.N), Carlyle Group LP (CG.O), Onex Corp (ONEX.TO) and Canada Pension Plan Investment Board have joined forces in a bid to acquire aluminum products maker Arconic Inc (ARNC.N), Reuters reported.
KKR launches $1.2 billion offer for Australian accounting software firm MYOB: Reuters : KKR & Co
) has launched a A$1.75 billion ($1.24 billion) takeover offer for MYOB Group
) after buying almost a fifth of the Australian accounting software provider, as the U.S. private equity firm grows its portfolio of tech businesses, Reuters reported.
Home healthcare provider Civitas explores potential sale, say sources: Reuters :
Civitas Solutions Inc (CIVI.N), a U.S. provider of home and community health services to people with disabilities, is exploring strategic alternatives, including a potential sale, sources told Reuters.
Cannabis biotech firm Front Range Biosciences locks in $10 mln Series A :
Lafayette, Colorado-based Front Range Biosciences, a cannabis biotech company, has raised $10 million in Series A financing. The investors included Phyto Partners, WelCan Capital, Salveo Capital, Cornerstone Opportunity Partners, Sand Hill Angels, Harvard Business School Alumni Angels of New York, New York Angels and Altitude Investment Management.
Spire Capital invests in O2B :
Spire Capital Partners has made an investment in O2B Kids Early Education, a provider of early education services for children in the Southeast. No financial terms were disclosed. In addition to the funding, David Schaible, Andy Armstrong and Rupali Varma will join O2B's board of directors. Hinge Brokers provided financial advice to O2B on the transaction.
Montage Partners invests in Puroflux :
Montage Partners has made an investment in Simi Valley, California-based Puroflux, a maker of commercial and industrial water filtration systems. No financial terms were disclosed for the transaction that was done in partnership with Puroflux management. Levinson, Arshonsky & Kurtz, LLP provided legal advice to Puroflux on the investment while Snell & Wilmer LLP did likewise for Montage Partners.
Kingswood buys WAVE Electronics, will merge with AVAD :
Kingswood Capital Management LLC has acquired Houston-based WAVE Electronics, a provider of home automation distribution solutions. No financial terms were disclosed. Kingswood will merge WAVE with portfolio company AVAD, creating a new company that will provide high-end audio, video, security, and home automation solutions in the consumer electronics industry.
KKR, Tencent to invest $175 million for minority stake in Philippine fintech firm: Reuters :
Private equity firm KKR & Co Inc and Chinese tech giant Tencent Holdings Ltd are acquiring a minority stake in the financial technology arm of Philippines’ PLDT Inc, the companies said on Thursday.
Saltspring recaps Navegate Logistics :
Saltspring Capital LLC has recapitalized Navegate Logistics Inc, a third-party logistics provider. Next Coast Ventures, Relay Investments and the Operand Group also participated in the financing. No financial terms were disclosed.
Innovatus to provide up to $42 mln to Personal Genome Diagnostics :
Innovatus Capital Partners LLC has agreed to provide up to $42 million to Personal Genome Diagnostics Inc. Based in Baltimore, Personal Genome Diagnostics Inc is a developer of tissue-based and liquid biopsy technologies for cancer genomics.
Clearlake-backed Wheel Pros buys American Eagle plant :
Wheel Pros, a Clearlake Capital Group portfolio company, has acquired a an existing 220,000 square foot manufacturing facility, formerly owned by Eagle Alloys Inc and American Eagle Wheel Corp. Financial terms weren’t announced. The York County, South Carolina plant will have the capacity to produce more than 750,000 wheels per year, and is expected to be operational in the first quarter of 2019.
H.I.G. invests in Eruptr :
H.I.G. Growth Partners, the growth fund of H.I.G. Capital, said Oct. 4 that it invested in Eruptr LLC. Financial terms weren’t announced. Eruptr, of Bowie, Maryland, provides ROI-focused digital marketing patient engagement and customer acquisition solutions for hospitals and healthcare systems.
Enlightenment Capital invests in Emagine IT :
Enlightenment Capital said Oct. 3 that it invested in Emagine IT. Financial terms weren’t announced. Emagine IT, of Washington DC, provides technical consulting expertise in the areas of cybersecurity, cloud, and data analysis.
Blackstone to buy life sciences investment firm Clarus :
Blackstone said Oct. 4 that it agreed to buy Clarus. Financial terms weren’t announced. Clarus with offices in Boston and San Francisco, is a life sciences investment firm that has raised $2.6 billion since its founding. The deal will launch Blackstone Life Sciences, a platform that will invest across the life-cycle of companies and products within the key life sciences sectors. Nick Galakatos, PhD, who co-founded Clarus in 2005 and is a managing director, will become head of Blackstone Life Sciences.