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.
Carlyle Group said Jan. 11 that it promoted 58 professionals to senior positions. This includes eight to partner, 19 to managing director and 31 to principal/director.
3 min read · 11 January 2018
CITIC Capital Holdings Ltd said Jan. 11 that it closed its buy of Axilone from Oaktree Capital Management LP. Financial terms weren’t announced. The deal was announced in November. Axilone, of Paris, provides primary plastic and metal packaging solutions for the premium lipstick, fragrance, and skincare sectors.
2 min read · 11 January 2018
Olympus Capital Asia is looking to sell its stake in Li Tong Group, a recycler of Apple iPhones, Bloomberg reported. A sale could value Li Tong at between $750 million to $1 billion, the story said. Bain Capital and Blackstone are bidding for the company, while the sale has also attracted initial interest from Silver Lake, Bloomberg said.
1 min read · 11 January 2018
After other suitors dropped out, Nestle SA has emerged as the lead bidder to buy Merck KGaA’s consumer-health business for as much as $5 billion, Bloomberg said. Perrigo Co, Bain Capital and Cinven have dropped out of the process, the story said. Merck is expected to announce the winner during first quarter. Reckitt Benckiser Group Plc and Mylan NV are still vying for the Merck business, Bloomberg said.
1 min read · 11 January 2018
Sheridan Capital Partners has invested in SpendMend LLC. Financial terms weren’t announced. SpendMend, of Grand Rapids, Michigan, provides spend visibility and audit recovery services to the healthcare industry. Fidus Investment Corp and Cadence Bank provided debt financing. Katten Muchin Rosenman LLP and Miller, Johnson, Snell & Cummiskey PLC served as legal advisors to Sheridan and SpendMend, respectively. Charter Capital Partners served as financial advisor to SpendMend.
3 min read · 11 January 2018
2 min read · 10 January 2018
Abacus Finance Group said Jan. 10 to promoted Aized Rabbani to managing director, Timothy Wong to senior vice president and Jonathan Choa to senior associate.
3 min read · 10 January 2018
KKR said Jan. 10 that its second dedicated real estate fund closed on $2 billion. KKR Real Estate Partners Americas II will invest in value add and opportunistic real estate investments primarily in the U.S. REPA II includes approximately $230 million of capital from KKR's balance sheet and employee commitments.
3 min read · 10 January 2018
Clearlake Capital Group LP said Jan. 10 that it has acquired Perforce Software. Summit Partners was the seller. Financial terms weren’t announced. Perforce, of Minneapolis, provides software used by developers and development operations teams. Antares Capital, AllianceBernstein Private Credit and Vista Credit provided financing. Harris Williams served as financial advisers to Clearlake. Shea & Company served as financial adviser to Perforce and Summit Partners.
4 min read · 10 January 2018
Accenture said Jan. 10 that it agreed to buy Mackevision. Financial terms weren’t announced. Mackevision, of Stuttgart, Germany, is a 3D visualization company. Gimv, a Dutch private equity firm, acquired a majority of Mackevision in 2014.
8 min read · 10 January 2018
