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.
TDBBS LLC, a portfolio company of Bregal Partners, said Jan. 23 that Tim Hassett has joined as CEO. Hassett is the former president– Americas of Beam Suntory. Bregal invested in TDBBS in mid-2017, a spokesman said. TDBBS, of Richmond, Virginia, provides dog treats and chews through a portfolio of brands, including Best Bully Sticks, Barkworthies, and Paw Luxury.
4 min read · 23 January 2018
Vestar Capital Partners said Jan. 23 that it promoted Nikhil Bhat to principal.
2 min read · 23 January 2018
Partners Group said Jan. 23 that it has agreed to sell Trimco International Holdings Ltd to Affinity Equity Partners for $520 million. Trimco, of Hong Kong, provides garment labels, tags and trimming products to the apparel sector. Partners Group said the sale generated a 3.4x return on its original investment. Goldman Sachs (Asia) LLC acted as sole financial adviser and Clifford Chance as legal adviser.
3 min read · 23 January 2018
Cerberus Capital Management LP is considering an IPO for Haya Real Estate, Bloomberg reported. Cerberus is looking to sell shares in Haya, a property management company based in Madrid, as early as this year, the story said.
1 min read · 23 January 2018
2 min read · 22 January 2018
Ascensus said Jan. 22 that it agreed to buy Polycomp Trust Co. Financial terms weren’t announced. Polycomp, of Sioux Falls, South Dakota, is a non-traditional asset custodian for self-directed IRAs. Ascensus also said it that it closed its buy of Provident Trust Group. Ascensus is backed by Genstar Capital and Aquiline Capital Partners.
3 min read · 22 January 2018
New MainStream Capital said Jan. 22 that Noel Jeon has joined as a principal while Michael Lehman and Donza Worden were promoted to senior associate positions.
2 min read · 22 January 2018
MidOcean Partners said Jan. 22 that it invested in The Planet Group. Financial terms weren’t announced. The Planet Group, of Chicago, provides outsourced human capital and consulting services.
4 min read · 22 January 2018
SoFi is in talks with Anthony Noto to permanently replace Mike Cagney as CEO, the Financial Times reported Jan. 20. Noto is a former Goldman Sachs banker who is now chief operating officer at Twitter. Cagney, SoFi’s founder, resigned as CEO last year in the wake of a pair of lawsuits alleging sexual harassment and unfair work practices, the FT said.
1 min read · 22 January 2018
American International Group Inc said Jan. 22 that it agreed to buy Validus Holdings Ltd for $5.56 billion or $68 a share. AIG’s and Validus’s boards have approved the deal. Validus provides reinsurance, primary insurance, and asset management services. Citigroup Global Markets Inc, Perella Weinberg Partners LP and Debevoise & Plimpton LLP advised AIG on the transaction. Validus was advised by J.P. Morgan Securities LLC and Skadden, Arps, Slate, Meagher & Flom LLP.
9 min read · 22 January 2018
