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.
L Squared Capital Partners said Feb. 27 that it invested in United Scope, resulting in a majority recap of the company. Financial terms weren’t announced. Company founders also invested. United Scope, which goes to market under the brand AmScope, provides microscopes and related accessories sold online to end markets including the education sector, life sciences and other scientific research fields, as well as various industrial inspection applications. Varagon Capital Partners provided debt financing. Paul Hastings served as legal counsel to L Squared. Keystone Capital Markets served as financial adviser and Dentons served as legal counsel to United Scope.
4 min read · 27 February 2018
2 min read · 26 February 2018
Platinum Equity is buying American & Efrid (A&E) from KPS Capital Partners. Financial terms weren’t announced. A&E, of Mt. Holly, North Carolina, is the second largest maker and distributor of industrial and consumer sewing thread, embroidery thread and technical textiles.
3 min read · 26 February 2018
The Blackstone Group has asked outside fund managers to detail their ownership in companies that make or sell guns, the Wall Street Journal reported. Blackstone gave the managers about a day to answer, the story said. Blackstone sent the request by email to managers at about a dozen hedge funds that it owns a stake in, the WSJ said. The email asked for information about “any ownership or lending” of or to “gun manufacturers or gun sellers” the story said. The request represents the snowballing pressure on companies to cut ties with the firearms industry in the wake of the Parkland, Florida school shooting earlier this month, the WSJ said.
1 min read · 26 February 2018
Kiddar Capital said Feb. 24 that it acquired 575 Herndon Parkway, the landing site for the platform of the WMATA Herndon Silver Line station. Financial terms weren’t announced. The 4.8-acre property includes a 135,102 square foot office building primarily occupied by Booz Allen Hamilton. Eagle Bank financed the deal which was brokered by Colliers International.
2 min read · 26 February 2018
Wellbilt Inc said Feb. 26 that it agreed to buy Avaj International Holding AB for about 1.8 billion Swedish Krona or $224 million. Priveq Investment Fund IV LP and SEB Venture Capital are the sellers. Avaj International, or Crem International, of Solna, Sweden, makes professional coffee machines.
6 min read · 26 February 2018
Gauge Capital LLC has recapitalized New Eyes. Financial terms weren’t announced. New Eyes, of Las Vegas, provides ophthalmologic services.
2 min read · 26 February 2018
Draper Esprit said Feb. 26 that it has invested 12 million pounds ($16.8 million) in five funds, including Join Capital in Berlin and Icebreaker in Finland. The firm said it also invested in three other funds based in London, Cambridge and Ireland.
2 min read · 26 February 2018
Cairngorm Capital Partners LLP said Feb. 26 that Alex Bayliss and John Naylor-Leyland were promoted to managing director.
2 min read · 26 February 2018
Goldman Sachs Group Inc has raised $2.5 billion to buy minority stakes in private equity firms, the Wall Street Journal is reporting. Goldman’s Petershill Group had targeted $2 billion for the fund, the story said. The pool buys passive stakes in midsize firms with assets of $5 billion to $20 billion, the WSJ said. Buying non-control stakes in private equity firms has become a popular strategy with a handful of firms. Goldman’s Petershill competes against Neuberger Berman’s Dyal Capital Partners.
1 min read · 22 February 2018
