Luisa Beltran

PE HUB Wire Highlights, 9.26.19

Court Square looks for staple from Fund III secondary; Blackstone's Korngold says fintechs won't displace banks

Apollo Global unveils leadership changes

Apollo Global Management said Sept. 26 that it promoted Matt Nord and David Sambur, both senior partners, to co-lead partners of private equity. Olivia Wassenaar and Geoff Strong, also senior partners, were elevated to co-leads of Apollo’s Natural Resources business, where they will oversee the firm’s existing and future natural resources funds. Dylan Foo is joining Apollo as a senior partner and co-lead of Apollo‘s infrastructure business. Greg Beard, senior partner and global head of natural resources, will be transitioning to senior adviser to Apollo through mid-2020.

GTCR invests in Cole-Parmer, again

GTCR said Sept. 26 that it is reinvesting in Cole-Parmer and is buying a majority stake in the company. Golden Gate Capital and management will retain a significant minority. Financial terms weren’t announced. Cole-Parmer makes peristaltic, temperature monitoring, and environmental precision equipment and related consumables used in both research and production applications. GTCR sold Cole-Parmer to Golden Gate in 2017.

PICO Venture Partners Fund II raises $80 mln

PICO Venture Partners said Sept. 26 that its second fund closed on $80 million in capital commitments. Pico, of Jerusalem, invests in early-stage startups.

Peloton IPO prices at $29

Peloton Interactive raised $1.16 billion after selling 40 million shares at $29 each, at the top end of its $26 to $29 price range, an SEC filing said. Peloton provides on-demand workout programs on its exercise bikes, the filing said.

Inspire Brands to buy Jimmy John's

Inspire Brands, which owns Arby’s, Buffalo Wild Wings, and SONIC Drive-In, said Sept. 25 that it agreed to buy Jimmy John’s Sandwiches. Financial terms weren’t announced. Both Jimmy John's and Inspire Brands are backed by Roark Capital Group.

TPG cancels Goodnight Midstream deal: Bloomberg

TPG has called off its deal to buy Goodnight Midstream for $930 million, Bloomberg is reporting. TPG ended the deal because Goodnight was unable to satisfy certain closing condition, the story said. Dallas-based Goodnight Midstream provides oilfield water infrastructure to oil and gas producers.

Council Capital, Baird Capital exit emids

Council Capital and Baird Capital said Sept. 26 that they sold their stakes in emids to New Mountain Capital. Financial terms weren’t announced. Emids, of Nashville, provides technology services and solutions for healthcare payers and providers.

Union Corrugating buys Oakland Metal Buildings

Union Corrugating Co, a portfolio company of Industrial Opportunity Partners, said Sept. 26 that it acquired Oakland Metal Buildings. Financial terms weren’t announced. Oakland Metal makes and distributes pre-engineered metal buildings.

Omnes-backed Batiweb Group buys Archionline

Batiweb Group, an Omnes portfolio company, is buying Archionline. Financial terms weren’t announced. The founding managers, Victor Thoulouze and Grégoire Leveque, will remain as shareholders, in charge of the company’s operational management. Archionline, of Paris, is a national web platform linking individuals, architects and local artisans working for the construction, extension and renovation of residential housing.