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.
Tower Arch Capital said Aug. 8 that it completed a recap of Panoramic Doors LLC. Financial terms of the investment were not disclosed. Panoramic Doors, of Oceanside, California, designs, makes and distributes panel folding patio door systems. Tower Arch was advised by Choate Hall & Steward LLP.
2 min read · 08 August 2018
ORIX Corp said Aug. 8 that it agreed to buy a 30 percent stake in Avolon for $2.2 billion. Bohai Capital, whose investors include HNA Group, is the seller. Avolon, of Dublin, Ireland, provides aircraft leasing and lease management services. Morgan Stanley & Co LLC provided financial advice to Avolon while Douglas Warner, James Harvey, Oliver Walker and Andrew Yoon of Weil, Gotshal & Manges LLP were legal advisers to Avolon.
4 min read · 08 August 2018
2 min read · 07 August 2018
WndrCo said Aug. 7 that NewTV had raised $1 billion in an initial funding round. Investors include 21st Century Fox, Disney, Entertainment One, ITV, Lionsgate, Metro Goldwyn Mayer, NBCUniversal, Sony Pictures Entertainment, Viacom, and Warner Media. The technology company investors include Alibaba. The strategic partner investors include The Goldman Sachs Group, Inc., JPMorgan Chase & Co., Liberty Global, and Madrone Capital, who led the round. WndrCo, of Los Angeles and San Francisco, is a holding company that invests in, acquires, develops and operates consumer technology businesses for the long term. NewTV is the working title of a mobile media platform incubated at WndrCo and founded by Jeffrey Katzenberg. Ari Lanin, Ben Ross and Edward Sopher of Gibson, Dunn & Crutcher LLP represented NewTV in the acquisition by WndrCo.
3 min read · 07 August 2018
ONCAP said Aug. 7 that it acquired Precision Global. Peak Rock Capital, which acquired Precision Global in 2015, was the seller. ONCAP said it invested about $111 million in the deal. Precision Global, of Greenville, South Carolina, makes dispensing solutions, such as aerosol valves, actuators and pumps.
3 min read · 07 August 2018
KPS Capital Partners LP said Aug. 7 that it agreed to sell the attachments division of International Equipment Solutions LLC to Stanley Black & Decker Inc for $690 million. The deal includes IES’ Paladin, Genesis and Pengo business units, along with all brands and operations within those units. KPS said it will retain ownership of cabs division of IES, consisting of IES’ Crenlo, Emcor and Siac do Brasil brands. IES Attachments makes attachment tools for off-highway applications. UPDATE: The sale of IES attachments is the fourth exit for KPS this year, a spokesman said. Paul, Weiss, Rifkind, Wharton and Garrison LLP served as legal counsel and Deutsche Bank acted financial adviser to KPS and IES with respect to the transaction.
4 min read · 07 August 2018
Nordic Capital said Aug. 7 that it agreed to sell Unifeeder Group to DP World for 660 million euros ($762.6 million). Unifeeder, of Aarhus, Denmark, is a pan-European feeder and shortsea operator.
3 min read · 07 August 2018
SoftBank’s Vision Fund is expected to lead a $3 billion to $5 billion investment in Ele.me, Bloomberg is reporting. Alibaba Group Holding, which owns the food delivery giant, plans to merge Ele.me with in-house arm Koube, the story said.
1 min read · 07 August 2018
Monroe Capital said Aug. 7 that it provided financing for Galen Partners’ majority recap of SMP Pharmacy Solutions. SMP, of Miami, is a specialty pharmacy that focuses on niche and complex therapeutic areas such as fertility.
2 min read · 07 August 2018
Prospect Partners LLC said Aug. 7 that it has sold its stake in Water Co Holding LLC to Culligan International Co. Financial terms weren’t announced. Water Co, of Lombard, Illinois, provides water equipment, bottled water, water treatment, and equipment installation, maintenance and repair to residential and commercial accounts nationwide.
3 min read · 07 August 2018
