Luisa Beltran

Spectrum invests $65 mln in B-Stock

Spectrum Equity has invested $65 million in B-Stock. The Belmont, California company is a business-to-business marketplace for returned, excess, and other liquidation merchandise.

J.F. Lehman to sell NRC Group to Hennessy SPAC

Hennessy Capital Acquisition Corp III has agreed to buy NRC Group Holdings from J.F. Lehman & Co. Financial terms weren’t announce. The deal is expected to introduce NRC as a publicly traded company with an anticipated initial enterprise value of approximately $748 million. NRC, of Great River, New York, provides environmental, compliance and waste management services to the marine and rail transportation, general industrial and energy markets. Hennessy Capital Acquisition Corp III is a blank check company founded by Daniel J. Hennessy.

EQT buys Zemax Software from Arlington Capital

Arlington Capital Partners said June 26 that it sold Zemax Software Holdings LLC to EQT. Financial terms weren’t announced. Zemax, of Kirkland, Washington, provides optical and illumination design software. Spurrier Capital Partners provided financial advice to Zemax, while Sheppard Mullin served as legal adviser. Kirkland & Ellis LLP served as legal adviser to EQT. Shea & Co provided financial advice to EQT. Ares Capital Corp and Carlyle Global Credit provided debt financing in support of the transaction.

AE-backed Bartlett Holdings buys D&D Power

Bartlett Holdings Inc, dba BHI Energy, said June 26 that it acquired D&D Power Inc. BHI is a portfolio company of AE Industrial Partners. D&D Power is a licensed and insured electrical contractor company that provides distribution, transmission, and storm restoration services for customers throughout the Northeast and Southern United States.

Cresset Capital Management launches family office

Cresset Capital Management said June 26 that it launched the Cresset Family Office. Michael Cole, the former president and founder of Ascent Private Capital Management, is CEO of Cresset Family Office. Eric Becker, co-founder of Sterling Partners, and Avy Stein, CEO of Willis Stein & Partners, founded Cresset Capital.

Ingenico Group SA is next takeover target: Bloomberg

The next big payments company up for sale is Ingenico Group SA, which is drawing preliminary interest from several buyout shops, Bloomberg is reporting. Potential suitors include CVC Capital Partners, Hellman & Friedman and Bain Capital, as well as rival fintech companies, the story said. Ingenico, valued at $5.5 billion, is in talks with advisers about for a potential offer, Bloomberg said.

Celonis raises $50 mln B round from Accel, 83North

Private equity nearly shut out of Repay auction: source

Advent to buy GE's Distributed Power unit for $3.25B

Advent International said June 25 that it agreed to buy General Electric’s Distributed Power business for $3.25 billion. The deal includes Distributed Power’s Jenbacher and Waukesha engines, as well as manufacturing sites in Austria, Canada and the U.S.

MDP-backed Ankura to buy Navigant units for $470 mln

Ankura, a Madison Dearborn Partners portfolio company, said June 25 that agreed to buy Navigant’s disputes, forensics and legal technology segment and its transaction advisory services practice for $470 million. The deal is expected to close in third quarter. Navigant said it expects to realize approximately $370 million in net cash proceeds from the transaction and will return up to $175 million to shareholders.