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.
Millennium Trust Company LLC has acquired InspiraFS Inc. Financial terms weren’t announced. Ad-Base Group Inc was the seller. Inspira, of Pittsburgh, provides recordkeeping services for individual retirement accounts. Millennium Trust is a portfolio company of Parthenon Capital Partners. Alantra, which announced the InspiraFS sale on Jan. 11, advised Ad-Base.
2 min read · 16 January 2018
Castanea Partners said Jan. 16 that it has invested in Yasso. Financial terms weren’t announced. Yasso, of Quincy, Massachusetts, is a Greek frozen yogurt brand featuring stick bars, sandwiches, and pints. Piper Jaffray and Nixon Peabody advised Yasso. Ropes and Gray advised Castanea Partners.
2 min read · 16 January 2018
3 min read · 16 January 2018
Intervale Capital said Jan. 16 that it acquired a majority stake in PDC Logic. Financial terms weren’t announced. PDC Logic, of Norman, Oklahoma, makes highly engineered drilling and completion bits. PNC Business Credit provided financing. Wheeler, Morgan & Brown PLLC acted as legal counsel to PDC Logic. Baker Botts LLP provided legal counsel to Intervale.
2 min read · 16 January 2018
Mi9 Retail, a General Atlantic portfolio company, said Jan. 15 that it acquired JustEnough Software. Financial terms weren’t announced. JustEnough, of Irvine, California, provides demand management software for retail, wholesale and direct-to-consumer businesses.
3 min read · 16 January 2018
B2C2 said Jan. 15 that it named Phillip Gillespie its CEO of its Tokyo operations. Most recently, Gillespie oversaw the FX G10 business for EMEA at Goldman Sachs. B2C2, of London, is a cryptocurrency market maker.
2 min read · 16 January 2018
Xiaomi has hired Goldman Sachs and Morgan Stanley to lead a flotation later this year, the Financial Times reported Jan. 15. The IPO could value Xiaomi at up to $100 billion, making it the biggest new issue since Alibaba went public in 2014. Xiaomi, of Beijing, makes smartphones.
1 min read · 16 January 2018
Rolls-Royce is considering putting its L’Orange unit up for sale, according to The Daily Telegraph. L’Orange, of Germany, makes fuel injection systems for large diesel engines used by trains and ships, and is expected to fetch 700 million pounds, the story said. Bidders would likely include industry rivals as well as private equity groups, the Daily Telegraph said.
1 min read · 16 January 2018
NetDocuments, which is backed by Clearlake Capital Group LP, said Jan. 16 that Pete Childs has joined the company as the chief financial officer. Childs was previously CFO for both Workfront and Cvent.
2 min read · 16 January 2018
Thoma Bravo is planning to seek about $10 billion for its 13th buyout fund, Bloomberg reported. Thoma Bravo has held preliminary talks with investors about returning to market this year, the story said. At $10 billion, Fund XIII would be more than 30 percent bigger than its prior pool, which closed on $7.6 billion in 2016.
1 min read · 15 January 2018
