Private Equity
HNA Group is in talks to sell Ingram Micro Inc to Apollo Global Management, the Wall Street Journal reported Dec. 21. Apollo made an offer for Ingram two weeks ago but HNA rejected the offer as too low, the story said. HNA hopes to sell Ingram for $7.5 billion, including $1.5 billion in debt, the WSJ said. HNA and Apollo are currently in talks to see if a deal can be reached, the story said.
1 min read · 26 December 2018
3 min read · 26 December 2018
H.I.G. Capital said Dec. 21 that it closed the sale of Enerwise Global Technologies Inc, which does business as CPower, to LS Power. Financial terms weren’t announced. C-Power, of Baltimore, Maryland, is a demand-side energy management solutions provider.
3 min read · 24 December 2018
Qognify, a portfolio company of Battery Ventures, said Dec. 22 that it agreed to buy On-Net Surveillance Systems Inc and SeeTec GmbH. Financial terms weren’t announced. OnSSI, of Pearl River, New York, and SeeTec, of Germany, provide IP video management software.
4 min read · 24 December 2018
La Caisse de dépôt et placement du Québec said Dec. 21 that it acquired a minority of Grupo SURA's subsidiary Sura Asset Management for $247 million. The sellers are Bancolombia and Grupo Wiese. Sura Asset Management provides financial services to nearly 20 million clients in Mexico, Colombia, Peru, Chile, El Salvador and Uruguay.
4 min read · 24 December 2018
DPMS, a portfolio company of Gladstone Investment Corp, has acquired K-Fab Inc. Financial terms weren’t announced. K-Fab operates a 22,000-square-foot precision machine shop making parts for a variety of end markets including military, semiconductor, and aerospace industries. Generational Equity advised K-Fab.
2 min read · 24 December 2018
The Securities and Exchange said Dec. 21 that fined Wealthfront Advisers LLC $250,000 for allegedly making false statements about a tax-loss harvesting strategy it offered to clients. Wealthfront, a robo-adviser with over $11 billion in client assets under management, consented to the SEC’s order without admitting or denying the SEC’s findings. The regulator also fined Hedgeable Inc $80,000 for allegedly making a series of misleading statements about its investment performance. Hedgeable, a robo adviser which had approximately $81 million in client assets under management, has consented to the SEC’s order without admitting or denying the SEC’s findings.
3 min read · 24 December 2018
Aterian Investment Partners said Dec. 21 that it has acquired Xpress Global Systems LLC. Financial terms weren’t announced. Xpress Global, of Chattanooga, Tennessee, provides rolled floor coverings including, carpet, area rugs, turf as well as hard surface floor coverings. Loughlin Management Partners + Co advised the sellers on the transaction. Christopher Machera, Heather Viets and Mark Schwed of Weil Gotshal & Manges LLP advised Aterian.
3 min read · 24 December 2018
GLP said Dec. 22 that its latest logistics real estate fund, GLP Japan Development Partners III, is expected to raise 625 billion Japanese yen ($5.6 billion). Canada Pension Plan Investment Board will be the cornerstone and largest investor of GLP JDP III. The fund is a follow-on venture to GLP Japan Development Venture I and II, GLP’s first two Japan development vehicles in partnership with CPPIB. GLP, of Tokyo, provides modern logistics facilities.
2 min read · 24 December 2018
2 min read · 20 December 2018
