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.
Capital Dynamics said July 10 that it agreed to buy Advanced Capital SGR. Financial terms weren’t announced. Advanced Capital SGR, of Milan, Italy, is an alternative asset manager and fund-of-funds manager.
3 min read · 10 July 2018
CORE Industrial Partners said July 10 that it acquired Hayes Manufacturing Services Inc. Financial terms weren’t announced. Hayes, of Sunnyvale, California, provides precision-machined plastic and metal components for both rapid prototyping and low-volume production applications.
3 min read · 10 July 2018
Brynwood Partners agreed to buy a portfolio of brands from The J.M. Smucker Co for $375 million. The portfolio includes exclusive U.S. rights to the iconic Pillsbury® brand’s shelf-stable baking products along with the Hungry Jack®, White Lily®, Jim Dandy® and Martha White® brands. The Pillsbury® brand license agreement is a royalty-free, perpetual agreement with General Mills Inc and encompasses all U.S. shelf-stable baking products, including flour, dry baking mixes and ready-to-spread frosting, in the retail channel. The transaction also includes the 650,000 square foot manufacturing facility in Toledo, Ohio. Brynwood Partners said it created Hometown Food Co, of Chicago, to acquire the assets from Smucker. Brynwood Partners did not retain an investment banking adviser but was represented by Holland & Knight LLP on legal matters.
3 min read · 10 July 2018
Grey Mountain Partners is investing in 48forty Solutions. Yukon Partners provided mezzanine capital and acquired a minority stake in the deal. Financial terms weren’t announced. 48forty Solutions, of Atlanta, is a whitewood pallet recycler in North America. It is a former division of Brambles and formerly known as CHEP Recycling. Dorsey & Whitney LLP served as legal counsel to Yukon.
3 min read · 10 July 2018
2 min read · 09 July 2018
Cerberus said July 6 that it agreed to buy 57 percent of Officine CST SpA. Financial terms weren’t announced. Gianpiero Oddone, Officine’s founder and CEO, and other shareholders, were the sellers. Officine, or Rome, provides credit management services to large enterprises such as banks, institutional investors, utilities, and multinational companies, as well as small and medium sized enterprises.
4 min read · 09 July 2018
Jimmy Watson has joined Clavis Capital Partners, where he will be broadly responsible for both new investment opportunity evaluation and existing portfolio company optimization. Most recently, Watson served as a finance and process improvement professional with Demilec USA LLC.
2 min read · 09 July 2018
Abingworth said July 9 that it closed its latest fund at $315 million. Abingworth Bioventures VII exceeded its target of $300 million and is Abingworth’s 12th fund to invest in life sciences companies in Europe and the US.
2 min read · 09 July 2018
Nineteen members of Congress sent a letter to Toys “R” Us private equity investors and questioned their role in the failure of the retailer, the Wall Street Journal said. The July 5 letter, sent to KKR, Bain Capital and Vornado Realty Trust, asked whether the PE firms deliberately pushed Toys into bankruptcy and encouraged them to compensate the roughly 33,000 workers who lost their jobs, the story said.
1 min read · 09 July 2018
PAI Partners has boosted its offer for Ontex Group NV, a Belgian diaper maker that previously rejected the PAI’s offer because it was too low, Bloomberg reported. Ontex’s board has allowed PAI to start due diligence, the story said.
1 min read · 09 July 2018
