Private Equity
Tikehau Capital, Bpifrance and minority investors provided another 33 million euros ($36.4 million) to ADDEV Materials to finance the acquisitions of Andpak and Zip-Chem. Andpak specializes in the packaging of chemicals products for aeronautics industry, while Zip-Chem develops and makes surface preparation, anti-corrosion, lubricants and cleaning products. Tikehau and Bpifrance previously invested 38 million euros in Addev in April.
4 min read · 16 October 2019
Goettl Air Conditioning & Plumbing, a portfolio company of Baum Capital Partners, said Oct. 15 that it acquired Dutton Plumbing. Financial terms weren’t announced. Dutton Plumbing, of Simi Valley, provides plumbing and drain services to approximately 10,000 homeowners annually.
3 min read · 16 October 2019
DMed Biopharmaceutical Co said it raised roughly $50 million in a Series B funding round led by Vivo Capital. Participating in the round were Legend Capital, Qiming Venture Partners and Lilly Asia Ventures. DMed is a clinical contract research organization that provides industry solutions to pharmaceutical and medical device companies in China and across the globe.
4 min read · 16 October 2019
Everglades Equity LLC, a private equity firm from Brett Craig, has launched. The Miami PE firm will invest in lower middle market companies in sectors including distribution, facilities services, industrial services, and human capital management. Craig, who is Everglades’s managing partner, was most recently a principal with Hidden Harbor Capital Partners.
3 min read · 16 October 2019
Blackstone Real Estate Income Trust and MGM Resorts are forming a Blackstone-led joint venture to buy the real estate assets of the Bellagio for $4.25 billion in a sale-leaseback transaction. The deal calls for MGM Resorts to lease the property from the joint venture and continue to manage, operate and be responsible for all aspects of the Bellagio on a day-to-day basis.
5 min read · 16 October 2019
Apollo Global Management has made a roughly $5 billion offer for Tech Data Corp, Reuters reported. Tech Data, a U.S. information technology equipment distributor, has lower operating margins than some of its peers, the story said.
1 min read · 16 October 2019
Marlin Equity Partners said Oct. 15 that it acquired a majority stake in Whitlock. Financial terms weren’t announced. Whitlock, of Richmond, Virginia, is a systems integrator and technology management firm that specializes in audiovisual and video collaboration solutions.
2 min read · 16 October 2019
Revelstoke Capital Partners said Oct. 16 that it has invested in The Care Team. Financial terms weren’t announced. The Care Team, of Farmington Hills, Michigan, is a home health and hospice agency.
3 min read · 16 October 2019
Cetera Advisors LLC allegedly breached its fiduciary duty and defrauded its retail advisory clients when it failed to reveal conflicts of interests when it received compensation in the form of 12b-1 fees, revenue sharing, administrative fees and mark-ups, the SEC said an amended complaint. The regulatory is seeking an injunction, disgorgement of ill-gotten gains and is looking to recover over $21 million from Cetera, a broker-dealer backed by Genstar Capital. See the SEC's amended complaint against Cetera here.
1 min read · 15 October 2019
Why investment robots won't take your PE job; DDS Lab goes up for sale; FFL sells CPI for $590 mln
2 min read · 15 October 2019
