Private Equity
Koch Equity Development LLC and Golden Gate Capital agreed to invest $1.5 billion in Infor, which sells financial and manufacturing software. Koch, in 2017, closed a $2 billion investment in Infor, of New York, which is backed by Golden Gate, Summit Partners and management.
5 min read · 16 January 2019
Fiserv and First Data said Jan. 16 that their boards have approved an agreement where Fiserv is buying First Data in a $22 billion stock deal. Once the deal closes, Fiserv shareholders will own 57.5 percent of the combined company, while First Data shareholders will have 42.5 percent. Fiserv said it plans to refinance the roughly $17 billion of debt that First Data is expected to have at the time of closing. The deal is expected to generate about $500 million in savings. KKR, which owns 39 percent of First Data and has 86 percent of voting rights, will have 16 percent of the company once the deal closes.
10 min read · 16 January 2019
Gotham Green Partners has invested $4 million in Chooze Corp, which owns the LucidMood brand of functional cannabis products. LucidMood produces disposable vape pens.
2 min read · 16 January 2019
Meketa Investment Group Inc is merging with Pension Consulting Alliance LLC. Financial terms weren’t announced. Meketa advises public and private institutional investors, while PCA serves U.S. tax-exempt and public pension fund clients. The combined firm will be called Meketa Investment Group Inc.
4 min read · 16 January 2019
Apax Partners said Jan. 16 that it invested $200 million for a minority stake in Fractal Analytics, which provides AI to Fortune 500 companies. In 2016, Khazanah Nasional Berhad, the strategic investment fund of the Government of Malaysia, invested $100 million in Fractal, PitchBook said.
4 min read · 16 January 2019
Tioga Capital said Jan. 16 that it hired John Bradner as director of investment origination. Bradner was previously at Voya Investment Management.
2 min read · 16 January 2019
3 min read · 15 January 2019
Apollo Global Management LLC said Jan. 15 that it expanded its leadership team. The firm promoted Anthony Civale, lead partner and COO, and Martin Kelly, CFO, to serve as co-chief operating officers. Civale and Kelly will oversee Apollo’s business operations and corporate infrastructure. They work closely with James Zelter and Scott Kleinman, Apollo co-presidents. The appointments are effective Jan. 15.
5 min read · 15 January 2019
OpenGate Capital said Jan. 15 that it agreed to buy the silicon carbide division of Saint-Gobain SA. Financial terms weren’t announced. The Saint-Gobain silicon carbide division produces metallurgical feedstock, refractory materials abrasive grains, and products used in technical ceramics.
1 min read · 15 January 2019
Zix Corp said Jan. 15 that it agreed to buy AppRiver for $275 million. Marlin Equity Partners is the seller. AppRiver provides cloud-based cybersecurity solutions. True Wind Capital has agreed to invest $100 million in convertible preferred equity. SunTrust Bank and KeyBanc Capital Markets are providing debt.
10 min read · 15 January 2019
