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.
SH 130 Concession Company has emerged from Chapter 11 bankruptcy with $260 million in financing. Strategic Value Partners LLC leads the new ownership of the group. SH 130 Concession operates and maintains a 41-mile southern section of state highway 130 in Texas.
2 min read · 29 June 2017
Cinven said June 29 that it sold its 40 percent stake in Visma to an investor group led by HgCapital. Cinven said it would retain a minority stake in the group. The total transaction is valued at 4.7 billion euros ($5.36 billion). Visma provides software to SMBs in the Nordic and Benelux region. Cinven was advised on this transaction by Freshfields Bruckhaus Deringer.
2 min read · 29 June 2017
KKR said June 29 that it has agreed to sell its entire remaining stake in Visma, together with a smaller stake from Cinven, to an investor group led by HgCapital. GIC, Montagu and ICG are also part of the investor group. Press reports peg the Visma sale at $1.8 billion. KKR acquired Visma, a Norwegian software company, in 2010 at an enterprise value of $1.3 billion. KKR was advised on this transaction by ABG Sundal Collier, Morgan Stanley, Simpson Thacher & Bartlett, EY and OC&C.
3 min read · 29 June 2017
2 min read · 28 June 2017
Kellstrom Aerospace Group Inc, a portfolio company of AE Industrial Partners LLC, has acquired Vortex Aviation Inc. Financial terms weren’t announced. Vortex provides support and turnkey solutions for aircraft lessors and airlines.
3 min read · 27 June 2017
Intervale Capital said June 27 that it recapitalized Pro Oil & Gas Services LLC. Fnancial terms weren’t announced. Pro Oil, of Houston, is a diversified multi-basin completion and drilling services company with operations in West Texas, South Texas, Louisiana, Oklahoma and the Northeast. Pro was advised by Simmons & Company International, Energy Specialists of Piper Jaffray, while Locke Lord LLP, and Winston & Strawn LLP served as legal counsel to management. Choate Hall & Stewart LLP represented Intervale.
3 min read · 27 June 2017
VarmX said June 27 that it closed a seed financing round. New investors include BioGeneration Ventures (BGV) and InnovationQuarter. VarmX, of Leiden, Netherlands, is a biotech company focusing on the development of therapies in the field of hemostasis and thrombosis.
4 min read · 27 June 2017
Satori Capital said June 26 that it invested $10 million in The Lovesac Company. Mistral Equity Partners also invested in the bridge round. Lovesac, of Stamford, Connecticut, is a designer and retailer of specialty furniture.
3 min read · 27 June 2017
Ares Management LP said June 27 that Peter Higgins has joined the firm as a partner and portfolio manager in the Ares Credit Group. Higgins will be based in London and will help lead the expansion of Ares’ European leverage finance product. Higgins was most recently with BlueBay Asset Management, where he was partner and senior portfolio manager for its global leveraged finance group.
3 min read · 27 June 2017
2 min read · 26 June 2017
