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.
Alex Friedman has joined Periscope Equity as vice president and will lead the firm’s business development effort. Friedman was previously at Ardenton Capital Corp.
2 min read · 15 March 2018
Nordic Capital is buying Trustly in a deal that values the payment company at 700 million euros ($865.2 million), the Financial Times said. Nordic is buying the majority stake from shareholders including Bridgepoint Development Capital, while Alfven & Didrikson is reinvesting in the deal, the story said. Trustly, of Stockholm, lets consumers pay directly from one account to another without relying on credit or debit cards.
1 min read · 15 March 2018
Industrial Opportunity Partners said March 15 that it acquired Royston LLC. Financial terms weren’t announced. Royston, of Jasper, Georgia, designs, makes and installs check out and merchandising fixtures and equipment. Comerica Bank, Stifel Bank, Associated Bank and Norwest Mezzanine Partners provided debt financing. Winston & Strawn LLP acted as legal adviser to IOP.
3 min read · 15 March 2018
Faction said March 15 that it raised $18 million in a Series B funding round led by River Cities Capital Funds. Other investors include Dell Technologies Capital while existing investors Sweetwater Capital, Meritage Funds and Charterhouse Strategic Partners also participated. Faction, of Denver, provides a multi-cloud platform.
3 min read · 15 March 2018
2 min read · 14 March 2018
Insignia Capital Group has promoted Pradyut Shah to managing director, Julian Hinderling to principal and Nick DeTrempe to vice president.
2 min read · 14 March 2018
Cairngorm Capital Partners said March 14 that it acquired Parker Building Supplies. Financial terms weren’t announced. Founder Tom Parker is the seller. Parker Building, of Polegate, East Sussex, provides heavyside building materials to trade and retail customers.
3 min read · 14 March 2018
China Investment Corp has sold its stake in Blackstone, the Financial Times reported March 13. CIC’s original stake in Blackstone accounted for 9.9 percent of the buyout shop when China’s sovereign wealth fund originally invested in 2007 for $3 billion, the story said. CIC bought and sold stakes in Blackstone in the years following the original 2007 investment but began reducing its stake over the past 18 months, the FT said.
1 min read · 14 March 2018
Stone Canyon Industries is considering taking its packaging unit, SCI PH Inc, public, Bloomberg is reporting. Stone Canyon, a closely held investment firm whose backers include billionaire investor Michael Milken, is in talks with advisers about a U.S. IPO, the story said. SCI PH produces about $700 million EBITDA and could be valued at more than $8 billion, Bloomberg said.
1 min read · 14 March 2018
KKR and American Tower Corp are among the bidders for Altice NV’s telecommunications towers, Bloomberg is reporting. Other parties interested in the telecom towers include private equity firms and TDF, the infrastructure operator, the story said. Altice NV’s telecommunications towers could be valued at about 3 billion euros ($3.7 billion), Bloomberg said.
1 min read · 14 March 2018
