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.
The Sterling Group said March 6 that it sold Process Barron to Carousel Capital. Financial terms weren’t announced. Process Barron, of Birmingham, Alabama, designs, makes and installs industrial process fans and material handling systems, while also providing follow-on service and maintenance for this equipment. Houlihan Lokey and Willkie Farr & Gallagher advised Sterling on the transaction.
2 min read · 07 March 2019
Platinum Equity said March 7 that it agreed to buy a majority of Grupo Ibérica de Congelados SA. Sellers include Portobello Capital and affiliates of the company’s founding families. Financial terms weren’t announced. Iberconsa, of Vigo, Spain, provides frozen seafood products, including hake, Argentine red shrimp and squid.
4 min read · 07 March 2019
Blackstone is expected to reach $20 billion with the first close of its eighth buyout fund, Bloomberg is reporting. BX has yet to set a limit for the flagship but expect to hit the first close in March or April, the story said.
1 min read · 07 March 2019
DS Smith said March 6 that it agreed to sell its plastics division to Olympus Partners for an enterprise value of $585 million. The plastics division comprises the plastics operations of DS Smith, including flexible plastics, rigid plastics and foam products. DS Smith expects net proceeds after taxation, transaction adjustments and expenses of approximately 400 million pounds.
3 min read · 07 March 2019
SFW Capital Partners said March 7 that it invested in Greenshades Software. David Rosas and Matt Kane, Greenshades co-founders, are also investing. Financial terms weren’t announced. Greenshades, of Jacksonville, Florida, provides payroll tax and human capital management information and software solutions.
4 min read · 07 March 2019
1 min read · 06 March 2019
Searchlight’s biggest fund ever seeks $2.75 bln; Aon weighs $24B bid for Willis Tower Watson; Blackstone said to sweeten Goodman's deal
2 min read · 06 March 2019
Aon Plc is considering combining with rival insurance broker Willis Towers Watson Plc, Bloomberg reported. The companies have held preliminary talks and Aon is expected to submit an offer in coming weeks, the story said. An offer for Aon could exceed $24 billion. UPDATE: Aon said March 6 that it considered investing in Willis Tower but no longer plans to pursue this business combination.
1 min read · 06 March 2019
Beam Therapeutics said March 6 that it raised $135 million in a Series B financing round. Investors include investors Redmile Group LLC, Cormorant Asset Management, GV, Altitude Life Science Ventures, and additional undisclosed investors. Also participating were existing investors F-Prime Capital, ARCH Venture Partners, Eight Roads Ventures, and Omega Funds. Beam Therapeutics, of Cambridge, Massachusetts, is a biotech developing genetic medicines through base editing.
2 min read · 06 March 2019
Wind Point Partners said March 6 that it agreed to sell Paragon Films to Wellspring Capital Management. Financial terms weren’t announced. Paragon, of Broken Arrow, Oklahoma, makes transit packaging films.
3 min read · 06 March 2019
