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.
Transom Capital Group said Jan. 9 that its third fund closed on $300 million in capital commitment. The initial target for Transom Capital Fund III LP was $250 million while the hard-cap was $300 million. Transom, of Los Angeles, said it invests into opportunities across multiple industries. Don Melamed of O’Melveny & Myers advised on the fundraising.
2 min read · 09 January 2018
Rhone Capital has made a binding offer to buy Nestlé’s US confectionary business, the Financial Times reported Jan. 8. First round bids for the unit were made in recent days and a decision is expected in a month, the FT said. Ferrero, of Italy, and Hershey Co have also made offers, the story said. Ferrero, which makes Nutella and Tic Tacs, has the best shot at buying Nestle’s confectionary business, the story said. Ferrero in October agreed to buy Ferrara Candy from L Catterton. Hershey last month also inked a deal to buy Amplify Snack Brands in December. Nestle’s U.S. business is valued between $2 billion and $2.5 billion, according to press reports.
1 min read · 09 January 2018
HG said Jan. 9 that it has invested in MeinAuto.de. Financial terms weren’t announced. MeinAuto, of Cologne, Germany, is a B2C online platform for new car purchases. Arma Partners advised MeinAuto.
2 min read · 09 January 2018
Ardian said Jan. 9 that it has sold RGI to Corsair Capital. Financial terms weren’t announced. RGI, of Milan, provides software products and technology services to the insurance industry. Arma Partners advised Corsair.
3 min read · 09 January 2018
3 min read · 08 January 2018
Arcapita said Jan. 8 that it bought a controlling stake in MC Sign Co in a deal valued at more than $100 million. MC Sign, of Mentor, Ohio, provides signage and lighting services to customers across the U.S.
3 min read · 08 January 2018
Audax Private Equity said Jan. 5 that it agreed to buy Corsearch. Wolters Kluwer N.V. is the seller. Financial terms weren’t announced. Corsearch, of New York, trademark and domain management services to corporate legal departments and law firms.
2 min read · 08 January 2018
KIRKBI said Jan. 8 that it agreed to buy KKR’s 49.8 percent stake in Välinge. Financial terms weren’t announced. The founding Pervan family, via Pervanovo Invest AB, will maintain a majority stake of 50.2 percent. Välinge, of Viken, Sweden, is a developer of flooring technology. KKR is selling its stake in Välinge for $500 million and will make 2.5x its money in less than two years, the Financial Times said. KIRKBI is the Kirk Kristiansen family’s holding and investment company.
6 min read · 08 January 2018
General Catalyst Partners is seeking $1 billion for its largest fund ever, the Wall Street Journal reported. Fund IX will combine several strategies under one roof, including early-stage and growth investments in startups, the story said. General Catalyst has invested in Airbnb, Stripe, The Honest Co and Gusto.
1 min read · 08 January 2018
Acorda Therapeutics Inc, a biotech company, is exploring a potential sale, the Wall Street Journal reported. It has hired investment banks Centerview Partners and MTS Health Partners, the story said. Proceedings are at an early stage; Acorda has a market value of $970 million, the WSJ said. Acorda’s main product is the multiple-sclerosis drug Ampyra.
1 min read · 08 January 2018
