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.
Drilling Tools International Inc, a portfolio company of Hicks Equity Partners LLC, has acquired the drill pipe rental division of Premium Oilfield Services LLC. Financial terms weren’t announced. Premium Rental Tools, of New Iberia, Louisiana, rents drill pipe, tubing workstrings, blowout preventers and handling tools to E&P operators in North America.
4 min read · 26 April 2018
Artic Green Energy said April 25 that it raised $150 million in equity and debt funding. Investors include CITIC Capital and China Everbright. Arctic Green Energy, of Reykjavík, Iceland, is a renewable energy company focusing on creating zero-emission cities.
4 min read · 26 April 2018
John Kerry, former U.S. Secretary of State, has joined TPG’s Rise Fund as a senior adviser, Bloomberg reported. Kerry will help identify investments and advise portfolio companies, with a focus on renewable energy companies, the story said.
1 min read · 26 April 2018
Bain Capital and Advent International are interested in Eli Lilly & Co’s animal health business, Bloomberg is reporting. Carlyle is also considering making a proposal for Elanco, the story said. Elanco could be valued at $14 billion to $16 billion, Bloomberg said.
1 min read · 26 April 2018
To start your morning, we have news that Sonos, the smart speaker company, has filed confidentially for an IPO, Peter Thiel has agreed to NOT buy Gawker and Subway is closing about 500 U.S. restaurants.
1 min read · 26 April 2018
BigCommerce said April 25 that it raised $64 million in growth equity funding led by Goldman Sachs. Also participating were current investors General Catalyst, GGV Capital and Tenaya Capital. BigCommerce, of Austin, is an ecommerce platform for fast-growing and established brands.
3 min read · 25 April 2018
The Federal Trade Commission has sued LendingClub, claiming the online lender misled consumers with hidden fees and charging borrowers even when the paid off loans, the Los Angeles Times said. The FTC said LendingClub’s conduct violated federal law protecting consumers from unfair and deceptive practices, the story said. LendingClub said it was disappointed by the FTC lawsuit, the LA Times said.
1 min read · 25 April 2018
Green Courte Partners LLC said April 25 that it acquired Pueblo Del Sol. Financial terms weren’t announced. Pueblo Del Sol, of Las Vegas, is a 453-site all-age land-lease community.
2 min read · 25 April 2018
Apollo Aviation Group said April 25 that its fourth flagship aviation fund closed on $950 million. The target for SASOF IV was $850 million. Apollo Aviation invests in the mid-life commercial aviation sector. Kirkland & Ellis LLP advised Apollo with the formation of SASOF IV.
2 min read · 25 April 2018
New Mountain Capital LLC said April 25 that it agreed to sell Medical Specialties Distributors to McKesson Corp. financial terms weren’t announced. Medical Specialties provides supply chain, biomedical services, and technology solutions to healthcare providers operating in low cost alternate sites of care, including home infusion, long-term care, home health, and oncology providers. Medical Specialties received legal counsel from Simpson Thacher & Bartlett LLP, while Morgan Stanley & Co LLC provided financial advice.
3 min read · 25 April 2018
