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.
New Heritage Capital has invested in Flying Colours Corp, taking a minority stake. Financial terms weren’t announced. Flying Colours, of Peterborough, Ontario, is an aviation services company.
3 min read · 08 February 2018
Capzanine said Feb. 8 that it is investing in Alphitan alongside its management. Financial terms weren’t announced. Alphitan, of Bordeaux, France, specializes in maintaining electronic components and motorization equipment used in industrial processes.
2 min read · 08 February 2018
Platinum Equity Partners is in advanced talks to buy the European vacation-rentals business of Wyndham Worldwide Corp, the Wall Street Journal is reporting. The deal values the business at $1 billion, the story said. The deal could be announced next week.
1 min read · 08 February 2018
Sanofi has narrowed the list of buyers for its 2 billion euro European generics business to a handful of private equity bidders, the Financial times is reporting. The parties include Advent International, BC Partners, Carlyle Group and a consortium of Blackstone Group and Nordic Capital, as well as at least one pharma company, the story said. Sanofi plans to agree to sell the business in third quarter; the interested parties are currently performing due diligence, the FT said.
1 min read · 08 February 2018
Thompson Street Capital Partners and Onward Capital have acquired Tech Manufacturing. Financial terms weren’t announced. Tech Manufacturing, of Wright City, Missouri, makes complex 5-axis structural aerospace parts. The firms acquired Tech Manufacturing as an add-on to their joint platform company Domaille Engineering.
3 min read · 08 February 2018
Goldman Sachs Group Inc is in talks to buy Clarity Money, Bloomberg reported. Goldman plans to fold Clarity into its Marcus online lender, the story said. Adam Dell, the brother of Michael Dell, founded the Clarity app, which has raised $15 million in funding. Investors include George Soros, Maveron Ventures, and Bessemer Venture Partners, PitchBook said.
1 min read · 08 February 2018
Global Infrastructure Partners said Feb. 7 that it has agreed to buy NRG Energy Inc’s integrated U.S. renewable energy platform, including its controlling stake and 46 percent economic interest in NRG Yield Inc, as well as NRG’s renewable energy operations and maintenance and development businesses. The deal is valued at $1.375 billion. GIP has agreed to provide backstop support for NYLD’s agreed purchase of the Carlsbad Energy Center project. The deal is expected to close in the second half.
4 min read · 07 February 2018
Fulcrum IT Services said Feb. 5 that it has acquired The PTR Group. Financial terms weren’t announced. PTR Group, of Ashburn, Virginia, is an engineering services company. Fulcrum IT is a portfolio company of Boyne Capital Partners and Grindstone Partners.
3 min read · 07 February 2018
Kevin Doyle has joined Tenex Capital Management as director of business development, the firm’s website said. Prior to Tenex, Doyle was director of Dealnexus at Intralinks. He co-founded PE-Nexus, which was sold to Intralinks in 2013. Doyle also previously worked in business development at H.I.G. Capital.
1 min read · 07 February 2018
Platinum Equity said Feb. 6 that it closed its buy of the OfficeMax business in Australia from Office Depot. Financial terms weren’t announced. Platinum Equity said it also plans to bring together the OfficeMax business in Australia with Winc Australia, the former Staples business it acquired in April 2017 and has rebranded. Baker McKenzie, Bell Gully, and Greenwoods & Herbert Smith Freehills served as legal counsel to Platinum Equity.
2 min read · 07 February 2018
