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.
Marlin Equity Partners has put eMDs Inc up for sale, the Wall Street Journal is reporting. Houlihan Lokey is advising on the sale, the story said. EMDs is expected to produce 2017 EBITDA of about $13 million, the WSJ said. EMDs provides electronic health records and revenue cycle-management services to ambulatory care organizations.
1 min read · 13 July 2017
Rover.com said July 13 that it raised $65 million in funding led by Spark Capital. New investors Bespoke Strategies and StepStone Group also participated. Existing shareholders Madrona Venture Group, Menlo Ventures, Foundry Group, OMERS Ventures and Technology Crossover Ventures also participated. Rover.com, of Seattle, is a network of pet sitters and dog walkers.
3 min read · 13 July 2017
1 min read · 12 July 2017
Rent-a-Center has rejected a $15 a share takeover offer from Vintage Capital, a Florida PE firm, the New York Post is reporting. The rent-to-own company said the $800 million offer from Vintage was "inadequate and opportunistic,” the story said. Engaged Capital, an activist hedge fund that owns three seats on RAC’s board, said it wasn’t pleased by the rejection.
1 min read · 12 July 2017
WeWork Cos has raised $760 million in new capital, the Wall Street Journal is reporting. WeWork, of New York, operates shared office and co-living spaces. The company is valued at $21.06 billion, the story said citing a PitchBook Data estimate. The WSJ said it was not clear which entities provided capital.
1 min read · 12 July 2017
Gong.io said July 12 that it raised $20 million in a Series A1 round. Existing investors Norwest Venture Partners and CheckPoint Co-Founder Shlomo Kramer participated in the round. New investors Wing Venture Capital and NextWorld Capital. Gong.io, of San Mateo, California, provides a conversation intelligence platform for sales teams.
4 min read · 12 July 2017
ABM said July 11 that it agreed to buy GCA Services Group from Thomas H. Lee Partners LP and Goldman Sachs Merchant Banking Division for about $1.25 billion in cash and stock. GCA, of Cleveland, provides facility services in the education and commercial industries, specializing in facilities maintenance, janitorial services, grounds management, vehicle services and outsourced workforce solutions. Once the deal closes, THL and Goldman will own approximately 14 percent of ABM’s outstanding shares. J.P. Morgan Securities LLC is financial adviser to ABM. Jones Day and Davis, Polk and Wardwell are its legal advisers. Goldman Sachs and Kirkland & Ellis LLP are serving as GCA’s financial and legal advisers, respectively.
10 min read · 12 July 2017
2 min read · 11 July 2017
Roark Capital Group is buying Jim ‘N Nick’s Bar-B-Q, according to Nation’s Restaurant News. Financial terms weren’t announced. Founded in 1985, Jim ‘N Nick’s Bar-B-Q specializes in BBQ and Southern-inspired cuisine, the story said. Jim ‘N Nick’s Bar-B-Q, of Birmingham, has 37 units spread across seven states including Alabama, Colorado, Florida, Georgia, North and South Carolina and Tennessee.
1 min read · 11 July 2017
The Institutional Limited Partners Association (ILPA) said July 11 that Mike Mazzola will assume the role of interim CEO. Mazzola replaces Peter Freire who left ILPA in June. Mazzola recently retired from MetLife as senior vice president and head of alternative investments. He was also a member of the ILPA board of directors for five years through the fall of 2015 and served his last three years as chairman.
3 min read · 11 July 2017
