I've been a business reporter for a while. I've covered Wall Street, venture capital and now private equity. I'm always looking for a scoop or something to talk about. I'm the eternal optimist and am still waiting for the Chicago Cubs to win the World Series. Yes, I believe.
Blackstone Group is weighing buying a stake in BC Partners, Bloomberg is reporting. BC Partners, which has $27 billion under management, could use the investment to develop existing businesses plus new strategies like real estate and credit, the story said.
1 min read · 02 May 2019
Newell Brands Inc said May 1 it closed the sales of Process Solutions and Rexair. Rhône Capital acquired Rexair, while One Rock Capital Partners bought Process Solutions.
2 min read · 02 May 2019
Capsule Technologies Inc, a Francisco Partners portfolio company, said April 30 that it acquired Bernoulli Health. Financial terms weren’t announced. Bernoulli, of Andover, Massachusetts, is a clinical surveillance solution that aims to give care teams contextual information on a patient’s condition.
3 min read · 02 May 2019
Mister Car Wash, which is backed by Leonard Green & Partners, is looking to refinance $815 million in debt, according to LevFin Insights. Proceeds from the deal will be used to pay out a dividend to Mister Car Wash’s sponsor, Green, the story said.
1 min read · 01 May 2019
McGraw-Hill and Cengage said May 1 that they agreed to combine in an all-stock merger. The deal will create the second-largest provider of college textbooks and other higher-education materials in the country, the Wall Street Journal said. Cengage Learning Holdings II was known as Thomson Learning before it was sold to a group of PE firms, including Apax Partners LLP, in 2007, the WSJ said. Apollo Global Management acquired McGraw-Hill Education Inc in 2013 for $2.4 billion.
7 min read · 01 May 2019
Ares Management’s switch to a C-corp last year from a public partnership has boosted liquidity in the stock, CEO Michael Arougheti told Bloomberg. Last month, Blackstone Group said it would switch to a C-corp in a bid to lure more investors. Firms designated a C-corp can be included in indexes and their stock is available to a wider pool of investors, the story said. “I think it’s great for Blackstone, I think it’s great for the alternative asset managers,” Arougheti said to Bloomberg.
1 min read · 01 May 2019
Blackford Capital said April 30 that it sold Custom Profile to the company’s employees in partnership with Mosaic Capital Partners. Financial terms weren’t announced. Custom Profile, of Grand Rapids, Michigan, makes plastic extruded parts servicing the office furniture, appliance, and medical device industries.
3 min read · 01 May 2019
Animoca Brands Corp Ltd said May 1 that it is investing $750,000 worth of shares into Brinc, a venture accelerator. Artesian is also investing $750,000 in Brinc AOA, which provides fee-based training and guidance to incubators, accelerators, and investment companies.
7 min read · 01 May 2019
2 min read · 30 April 2019
Northstar Aerospace Inc, a portfolio company of Wynnchurch Capital LLC, said April 30 that Scott Burdick was named CEO, while Dave McConnaughey will be retiring and transitioning to a board role. McConnaughey had been CEO of Northstar since 2012.
2 min read · 30 April 2019
