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.
LLR Partners said March 19 that it invested in CareATC Inc via a recap. Financial terms weren’t announced. CareATC, of Tulsa, Oklahoma, provides an employer-sponsored healthcare marketplace.
3 min read · 19 March 2019
Standard Industrial Manufacturing Partners LLC, a portfolio company of Hicks Equity Partners, has merged with DH Pump and Supply LLC. Financial terms weren’t announced. Standard Industrial, of Odessa, Texas, makes and distributes replacement parts for a wide range of pumps used in production and completion applications within the oil and gas industry. Hicks Equity is the PE arm of the Thomas O. Hicks family office.
4 min read · 19 March 2019
Kinderhook Industries LLC said March 19 that it acquired Adell Corp. Financial terms weren’t announced. Adell, of Sunnyvale, Texas, makes protective door edge guards as genuine original equipment to the automotive OEMs.
3 min read · 19 March 2019
Waldemar Szlezak has joined KKR and will lead the firm’s communications infrastructure investments in the Americas, his LinkedIn profile said. Szlezak is a former senior managing director of Soros Fund Management LLC’s private equity group, LinkedIn said. Szlezak will help spearhead KKR’s push into communications, a growing area of infrastructure investing, said the Wall Street Journal, which first reported Szlezak’s move.
1 min read · 19 March 2019
Blackstone Group has won the auction for Servpro Industries, a cleaning and emergency restoration company, the Wall Street Journal reported. Doris Isaacson and her late husband, Ted Isaacson, founded Servpro as a painting business in 1967; it’s currently run by their eldest child, Susan Steen, the story said. Servpro is expected to fetch $1 billion, including debt, the WSJ said.
1 min read · 19 March 2019
Ares Management and Crescent Capital Corp are taking control of Savers LLC, a for-profit thrift-store chain, from Leonard Green & Partners and TPG, Bloomberg is reporting. Ares and KKR are backing about $590 million of funded debt, according to a restructuring agreement cited by the story. Ares and Crescent are injecting $165 million in cash and would collectively hold a controlling stake in the company, Bloomberg said. Savers plans to complete the deal out of court within the next two weeks but is prepared to file for bankruptcy protection, the story said.
1 min read · 19 March 2019
3i Group plc said March 19 that it will invest $179 million in Magnitude Software Inc. The enterprise value of the transaction is $340 million. Magnitude, of Austin, provides unified application data management solutions, operating in the US, the Netherlands, UK, Canada and India.
2 min read · 19 March 2019
Roper Technologies is buying Foundry, an HG portfolio company, for 410 million pounds ($544.5 million). Foundry provides high‑end visual effects and 3D design software for media & entertainment, visualisation and design-oriented industries. Arma Partners advised Foundry.
2 min read · 19 March 2019
To start your morning, Netflix won't be offering its content through Apple's upcoming video service, Myspace accidentally deletes everything uploaded before 2016 and USC students linked to the admission's scandal are not being allowed to enroll in classes.
1 min read · 19 March 2019
Smile Brands Inc, a portfolio company of Gryphon Investors, said March 18 that it acquired Gateway Dental. Financial terms weren’t announced. Gateway Dental, of Seattle, provides general preventative and restorative care, specialty care, cosmetic dentistry and emergency services.
2 min read · 18 March 2019
