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.
2 min read · 18 July 2018
Gridiron Capital LLC said July 18 that it acquired a controlling stake in The Service Companies Inc. Financial terms weren’t announced. The Service Companies, of Miami, consists of Heart of House Services, Acrobat Outsourcing, and JRS International. Service Companies provides services such as housekeeping, public and casino area cleaning, kitchen cleaning, stewarding, laundry services to businesses including hotels, casinos, and resorts.
3 min read · 18 July 2018
Provenance said July 18 that it raised additional funding from musician Peter Gabriel as well as Working Capital Fund, which led the round. Also taking part were Digital Currency Group, Merian Ventures and Plug and Play. Financial terms were not disclosed. Provenance, a London blockchain startup, aims to make products and supply chains more transparent.
4 min read · 18 July 2018
Advantedge Commercial Finance, a portfolio company of Mobeus Equity Partners, has acquired Henry Howard Cashflow Finance. Financial terms weren’t announced. Henry Howard Cashflow Finance, of the U.K., provides funding and financing for businesses.
2 min read · 18 July 2018
Buyout shops including TPG and Hellman & Friedman are increasing management fees on the funds they’re looking to raise, Bloomberg reported. The move follows similar actions from Apollo Global Management and Blackstone in recent years, the story said. Hellman will charge a higher management fee of as much as 1.25 percent compared with 0.75 percent on its previous pool once the investment phase is completed, the story said.
1 min read · 18 July 2018
Zoox, a driverless car startup, has raised $500 million in a new round of funding, according to press reports. The round values Zoox at $3.2 billion, TechCrunch said. Mike Cannon-Brookes of Grok Ventures led the round, TechCrunch said.
1 min read · 18 July 2018
Genstar Capital has agreed to buy a majority of Aretec Group Inc, holding company of Cetera Financial Group. Financial terms weren’t announced. Cetera, of El Segundo, California, is a network of nearly 8,000 financial advisors. Cetera was seeking bids of $1.5 billion to $2 billion.
2 min read · 17 July 2018
3 min read · 17 July 2018
Michael Fabiano is joining Platinum Equity in January 2019 where he will lead the formation of a credit investing division. He will be based in New York and will be head of credit. Fabiano was most recently a managing director at GSO Capital Partners LP.
3 min read · 17 July 2018
Huntsworth plc said July 17 that it acquired Giant Creative Strategy. Financial terms weren’t announced. Shamrock Capital is the seller. Giant Creative, of San Francisco, is a creative healthcare agency focused on healthcare professional and multi-channel marketing.
3 min read · 17 July 2018
