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.
Digital River Inc, a portfolio company of Siris Capital Group, has agreed to sell its online payment service provider to Worldline. Financial terms weren’t announced. Digital River World Payments, of Stockholm, provides a payment gateway, as well as multi-acquiring and collecting services. The unit employs about 120 people. News of the sale was reported by Buyouts in May. Steve Hufford, of Raymond James, provided financial advice to Digital River. Rob Goldstein lead the team at McDermott Will & Emery that supplied legal advice.
4 min read · 18 July 2017
Wells Fargo (WFC.N) and a number of other lenders are negotiating to take control of a hedge fund previously valued at more than $2 billion that is now worth close to nothing, according to a report from the Wall Street Journal.
2 min read · 17 July 2017
Carlyle Group said July 17 that it has agreed to invest in ZeroChaos. Financial terms weren’t announced. Snow Phipps Group, ZeroChaos’ current financial partner, will exit its stake as part of the transaction. ZeroChaos, of Orlando, Florida, provides software and services that help companies manage their temporary staffing, professional services and other outside service providers. Latham & Watkins advised Carlyle. ZeroChaos was advised by R.W. Baird and Weil, Gotshal & Manges.
4 min read · 17 July 2017
MidOcean Partners has agreed to sell Water Pik Inc to Church & Dwight Co Inc for about $1 billion cash. The deal is expected to close in third quarter. Water Pik is a marketer and distributor of branded oral health products and replacement showerheads. Harris Williams and Wells Fargo provided financial advice, while Kirkland & Ellis LLP acted as legal adviser to MidOcean Partners.
4 min read · 17 July 2017
Align Capital Partners has made a growth investment in Pleatco LLC. Financial terms weren’t announced. Pleatco, of Glen Cove, New York, designs and makes filtration products for pools and spas.
3 min read · 17 July 2017
CITIC Capital Holdings Ltd said July 17 that it has invested in Formel D. CITIC’s investment was about 72 million euro ($82.5 million). Formel D, of Troisdorf, Germany, is a global service provider to the automotive and component supply industry. Harris Williams & Co served as financial advisor and Shearman & Sterling LLP served as legal counsel to CITIC Capital. Baird served as financial advisor and Willkie Farr & Gallagher LLP served as legal counsel to 3i.
3 min read · 17 July 2017
2 min read · 13 July 2017
Brentwood Associates said July 12 that its latest fund closed with $1.15 billion, exceeding its $750 million hard cap and target. Fund VI will make control investments in companies with enterprise values between $50 million and $500 million, with a focus on buyouts, growth equity investments and minority recapitalizations in the North American middle market. Park Hill Group LLC acted as the placement agent, Kirkland & Ellis LLP provided legal advice.
2 min read · 13 July 2017
Quill said July 13 that it has closed a round of funding. Financial terms were not disclosed. Quill, of London, produces primary content using a cloud technology platform. Quill has raised a total of 10 million pounds ($12.9 million) in funding.
3 min read · 13 July 2017
4 min read · 13 July 2017
