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.
Instamed final bids due end of month; North Castle Fund VII raises $400 mln; The rise of super carry
2 min read · 22 April 2019
North Castle Partners said April 22 that it closed its latest fund at its $400 million hard cap. The firm needed less than five months to raise North Castle Partners VII LP, which invests in consumer businesses that promote healthy, active and sustainable living.
5 min read · 22 April 2019
Tekni-Plex, a Genstar Capital portfolio company, said April 22 that it agreed to buy three plants from Amcor's flexible packaging business unit. Financial terms weren’t announced. The facilities—located in Madison and Milwaukee, Wisconsin and Ashland, Massachusetts— provide a portfolio of sterilizable medical device packaging substrates including coated and uncoated Tyvek®, heat-seal and cold-seal coated paper and films, medical grade laminates and die-cut lids and labels.
2 min read · 22 April 2019
Montage Partners said April 19 that it acquired Advanced Manufacturing and Development Inc, dba METALfx. Avista Corp is the seller. Financial terms weren’t announced. METALfx, of Willits, California, provides precision sheet metal fabrications, enclosures, assemblies, and complex wood composite components across a variety of industries, including technology, healthcare, industrial, and others.
3 min read · 22 April 2019
Ara Partners Group said April 22 that Jim Mahoney joined as an operating partner and Johanna Schmidtke as a principal. Mahoney was previously CEO of Novomer Inc, Surface Logix Inc and Prolinx Inc. Schmidtke was previously a director at Saudi Aramco Energy Ventures.
2 min read · 22 April 2019
Norwest Equity Partners said April 22 that Tony Armand was named a partner. Armand served as an operating partner for the firm since 2018.
2 min read · 22 April 2019
To start your morning, Tesla is investigating after another car appears to explode in China, Serena Ventures has backed 30 companies so far and "Game of Thrones" releases a new song by Florence + the Machine.
1 min read · 22 April 2019
Blackstone said April 18 that it is converting to a C corp from a publicly traded partnership. BX also released first quarter 2019 results. “We believe the decision to convert will make it significantly easier for both domestic and international investors to own our stock and should drive greater value for all of our shareholders over time,” said Stephen A. Schwarzman, chairman, CEO and co-founder, in a statement.
3 min read · 18 April 2019
Alexander (Alex) Navab, the former head of Americas private equity at KKR, unveiled his new firm. Navab Capital Partners will invest in upper mid-cap to larger enterprises in North America in sectors including healthcare, technology, media, fintech, financial services and consumer. Goldman Sachs Asset Management’s Petershill private equity seeding program helped in the development of the firm.
6 min read · 18 April 2019
Zoom Video Communications Inc said April 17 that its priced 20.87 million shares at $36, above its expected range of $33 to $35 a share. The San Jose company is selling about 9.9 million shares while stockholders are offering 10.96 million shares. Zoom, a video conferencing service, will trade on the Nasdaq under the ticker “ZM.”
2 min read · 18 April 2019
