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.
Madison Dearborn Partners and Tornante Co are considering putting Topps Co up for sale, Bloomberg is reporting. The PE firms are talking to banks about strategic options for Topps, a baseball card maker, the story said. The most likely option is to split Topps card and candy business. The candy unit, which contributes most of Topps $40 million EBITDA, will likely be sold first, Bloomberg said. The total value of the company is $400 million.
1 min read · 06 March 2018
A Nordstrom special committee said March 5 that it has received and rejected an initial offer from the Nordstrom family to buy the retailer at $50 a share as too low. The Nordstrom committee said it plans to terminate discussions unless the family can “promptly and substantially” improve the price it is proposing to pay. Leonard Green has been working with the family on the take private and is looking to contribute $1.5 billion to $2 billion equity, CNBC said. The group of Nordstrom family members owns 31.2 percent of the Seattle retailer, CNBC said.
2 min read · 06 March 2018
2 min read · 05 March 2018
OpenGate Capital said March 5 that it closed its buy of Jøtul Group. Ratos AB was the seller. Financial terms weren’t announced. Jøtul Group, of Fredrikstad, Norway, makes residential stoves and fireplaces.
3 min read · 05 March 2018
Hercules Capital Inc said March 5 that it has acquired Gibraltar Business Capital. Financial terms weren’t announced. Gibraltar, of Northbrook, Illinois, provides working capital to small and mid-market businesses.
4 min read · 05 March 2018
Kr Space said March 5 that it raised 600 million china yuan ($94.6 million) in a funding round. Kr Space, of Beijing, is a benchmark co-working space company. Kr Space did not disclose investors.
2 min read · 05 March 2018
KKR has closed its investment in LS Automotive and completed its acquisition and carve-out of KCF Technologies Co Ltd. Financial terms weren’t announced. LS Automotive, of South Korea, is an electrical auto parts maker for the global automotive industry. KCF Technologies is the copper foil and flexible copper clad laminate business formerly known as LS Mtron, also of South Korea.
4 min read · 05 March 2018
NBK Capital Partners said March 5 that it completed an investment in Energia Model Trading & Contracting LLC. Financial terms weren’t announced. Energia Model, of Saudi Arabia, is an energy rental business.
3 min read · 05 March 2018
Equistone Partners Europe said March 5 it has entered exclusive negotiations to buy a majority stake in Karavel-Promovacances Group and FRAM Group. LBO France is the seller. Karavel-Promovacances Co-Founders Alain de Mendonça and Folco Aloisi, along with Cyrille Fradin (the group’s financial and risk director), and some additional FRAM and Karavel-Promovacances directors and employees, are also investing. Financial terms weren’t announced. Karavel-Promovacances is a leading online tourism group in France.
2 min read · 05 March 2018
Alstef and BA Robotic Systems Group are merging. The combined company, called B2A Technology, will provide automated solutions for the intralogistics, airport and robotics markets. Future French Champions, the partnership between CDC International Capital and Qatar Investment Authority, will hold 32 percent of B2A. Pierre MAROL will have 25 percent, Jean-Luc THOMÉ will have 17 percent, managers will have 14 percent and employees will have 12 percent.
4 min read · 05 March 2018
