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.
Ascensus said June27 that it agreed to buy QBI LLC. Financial terms weren’t announced. QBI, of Woodland Hills, California, is a third-party administration firm.
2 min read · 28 June 2018
BJ's Wholesale Club Holdings Inc said June 27 that it priced its IPO at 37.5 million shares at $17 each, the top of its $15 to $17 price range. The company is expected to begin trading on the NYSE on June 28 under the ticker “BJ.” BJ’s is backed by CVC Capital Partners and Leonard Green & Partners.
3 min read · 28 June 2018
BitSight said June 28 that it raised $60 million in Series D funding led by Warburg Pincus. Also participating were existing investors Menlo Ventures, GGV Capital and Singtel Innov8. BitSight, of Cambridge, Massachusetts, provides a SaaS platform to help manage third party risk, benchmark performance, underwrite cyber insurance policies and conduct M&A due diligence.
4 min read · 28 June 2018
Sean Cleary, Chairman of Abraaj Holdings, has resigned as the PE group is undergoing a court-supervised restructuring after claims of misused funds, Bloomberg is reporting.
1 min read · 28 June 2018
Danone is exploring a sale of Earthbound Farm, a California organic produce distributor, Bloomberg reported. Danone is working with advisers on the possible sale, which could fetch $500 million, the story said.
1 min read · 28 June 2018
Comcast Corp is considering tie-ups with private equity firms that could provide additional cash as it pursues its buy of 21st Century Fox Inc’s assets, the Wall Street Journal said. Comcast has no immediate plans to tap such funding sources but may do so should bidding reach high levels, in the $90 billion range or so, the story said.
1 min read · 28 June 2018
Lyft said June 27 that it raised $600 million in a financing found led by Fidelity Management & Research Co. Senator Investment Group LP also invested in the round, which valued Lyft at $15.1 billion. Lyft is a ride-sharing app.
1 min read · 28 June 2018
C Spire said June 26 that it agreed to buy TekLinks. Financial terms weren’t announced. TekLinks, of Birmingham, Alabama, provides IT applications, as well as managed and cloud services. Pamlico Capital acquired TekLinks in 2012, PitchBook said.
3 min read · 27 June 2018
Polaris agreed June 27 to sell its majority stake in Louis Poulsen to Investindustrial Group Holdings SA. Financial terms weren’t announced. Louis Poulsen is a Danish lighting manufacturer.
3 min read · 27 June 2018
2 min read · 26 June 2018
