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.
ProKarma Inc, a portfolio company of Carlyle Group, is merging with Lenati LLC. Financial terms weren’t announced. Lenati, of Seattle, is a marketing and sales strategy consultancy. Petsky Prunier advised Lenati.
2 min read · 16 April 2018
Coinbase has acquired Earn.com, according to a blog post. Balaji Srinivasan, Earn.com’s co-founder and CEO, is joining Coinbase as chief technology officer. Earn.com lets senders use cryptocurrency to pay users when replying to emails or completing tasks. CNBC.com pegged the sale at $100 million.
1 min read · 16 April 2018
Clayton, Dubilier & Rice said April 16 that completed its $2.4 billion buy of Ply Gem Holdings Inc. CD&R also said that it closed its acquisition of Atrium Windows & Doors and combined the company with Ply Gem. CD&R will own about 67 percent of new Ply Gem, while Atrium shareholders, including Golden Gate Capital, will have 33 percent.
4 min read · 16 April 2018
The Bravo Family Foundation said April 13 that it appointed Guiomar García-Guerra, EdD as its executive director. García-Guerra will work to build a long-term plan for the foundation's permanent mission in Puerto Rico. The Bravo Family Foundation is the charitable fund founded by Orlando Bravo, co-founder of Thoma Bravo.
3 min read · 16 April 2018
Norwest Equity Partners said April 16 that Tony Armand has joined as an operating partner. Armand most recently served as CEO of United Sports Brands.
3 min read · 16 April 2018
Lincoln International has added a team of 11 individuals in Stockholm. The additions including three partners -- Björn Åkerlund, Gunnar Brundin and John Hamilton -- from Nordhaven, a corporate finance advisory firm.
3 min read · 16 April 2018
New Harbor Capital said April 16 that it closed separate majority equity investments for Blueprint Test Preparation LLC and Next Step Test Preparation LLC. Financial terms weren’t announced. New Harbor has combined the companies into one platform, Blueprint Education Holdings, of Los Angeles. Blueprint provides tech-enabled instructional solutions. Deerpath Capital Management LP provided debt financing for the transaction. Reed Smith LLP served as legal counsel to New Harbor Capital.
3 min read · 16 April 2018
Power Grid Components Inc, a portfolio company of Shorehill Capital LLC, has acquired Instrument Transformer Equipment Corp. Financial terms weren’t announced. Instrument Transformer, of Monroe, North Carolina, makes dry molded and oil-filled instrument transformers. TCF Capital Funding (a division of TCF National Bank) provided senior financing. Perkins Coie LLP served as legal advisor to Power Grid, while Stephens Inc advised the sellers of ITEC.
3 min read · 16 April 2018
Goldman Sachs Bank USA said April 15 it has closed its buy of Clarity Money. Financial terms weren’t announced but Buyout reported last month that Goldman is paying $100 million for Clarity, the personal finance app founded by Adam Dell. Clarity uses artificial intelligence, along with data science, to help consumers manage their finances including helping them find a better credit card or cancel wasteful accounts. Goldman is folding Clarity into its Marcus online lender and will be branded Marcus over time. Dell is joining Goldman Sachs as a partner. Clarity has raised about $15 million in funding. Investors include RRE Ventures, Citi Ventures, Bessemer Venture Partners, Soros Capital, Maveron Ventures and SV Angel.
3 min read · 16 April 2018
Blackstone said April 13 that it agreed to buy the Center for Autism and Related Disorders LLC (CARD). Financial terms weren’t announced. CARD, of Woodland Hills, California, provides applied behavioral analysis treatment and assessment to children and adults with autism spectrum disorder and other disabilities. News of the auction was reported by Buyouts in January. Blackstone was advised by Kirkland & Ellis LLP and Cain Brothers. CARD was advised by Nevers, Palazzo, Packard, Wildermuth & Wynner PC and Berkery Noyes.
3 min read · 13 April 2018
