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.
Canadian private equity firm Catalyst Capital Group is exploring options for Therapure Biopharma, Bloomberg reported. Catalyst has hired Wells Fargo & Co to find a buyer for the contract development and manufacturing part of its business, the story said. The Therapure unit could fetch $400 million. Catalyst is also interviewing banks to advise on an initial public offering for Therapure’s proprietary products division, Bloomberg said. Toronto-based Therapure is a maker of complex biotherapeutics, and a developer, maker and seller of its own blood and plasma-related therapeutic products. It was established in 2008 by Catalyst.
1 min read · 26 June 2017
Justin Caldbeck has quit Binary Capital, the VC firm he founded, has quit, according to Techcrunch. Matt Mazzeo, the firm’s new partner, has also resigned from the VC, the story said. The departures come after six women in the tech industry alleged Caldbeck made unwanted sexual advances toward him, Business Insider said.
1 min read · 26 June 2017
SparkCognition said June 26 that it closed an initial $32.5 million Series B funding round led by Verizon Ventures. The Boeing Company, through its Boeing HorizonX unit, also participated. SparkCognition, of Austin, provides cognitive computing analytics.
3 min read · 26 June 2017
A consortium led by AGIC Capital has agreed to buy The Ritedose Corp. Olympus Partners is the seller. The deal is valued at between $600 million to $800 million, press reports said. Ritedose, of Columbia, South Carolina, is a contract pharmaceutical manufacturer.
3 min read · 26 June 2017
Catalyst Capital Group is exploring options for Therapure Biopharma, Bloomberg reported. Catalyst has hired Wells Fargo & Co to find a buyer for the contract development and manufacturing part of its business, the story said. The Therapure unit could fetch C$400 million ($302 million), Bloomberg said. Catalyst is also interviewing banks to advise on an IPO for Therapure’s proprietary products division, Bloomberg said.
1 min read · 26 June 2017
Summit Behavioral Healthcare LLC, a portfolio company of Flexpoint Ford, is up for sale, the Wall Street Journal reported. Moelis & Co is advising. The auction is in the early stages, the WSJ said. Summit’s EBITDA is around $24 million, the story said. Summit, of Franklin, Tennessee, provides addiction treatment. Flexpoint Ford invested in Summit in 2015.
1 min read · 26 June 2017
Alex Popov is joining Carlyle Group as a managing director lead the credit opportunities business within the firm’s global credit platform. Popov was previously a managing director with HPS Investment Partners, formerly known as Highbridge Principal Strategies.
2 min read · 26 June 2017
3 min read · 23 June 2017
Blockchain has raised $40 million in its second round of institutional funding led by Lakestar and GV, Google’s venture capital arm, Business Insider is reporting. Nokota Management and Digital Currency Group also took part in the investment, as did Blockchain's existing investors Lightspeed Venture Partners, Mosaic Venture Partners, Prudence Holdings, Virgin, and Sir Richard Branson, the story said. Blockchain makes tools for people to use bitcoin and blockchain, Business Insider said.
1 min read · 22 June 2017
Blackstone has formed a bidding consortium that may pay $4 billion to buy half of Platform Specialty Products, the New York Post is reporting. The deal could provide a windfall for Bill Ackman, the hedge fund tycoon, whose Pershing Square holds a 14.5 percent stake in the chemicals giant and is PSP's biggest shareholder, the NY Post said.
1 min read · 22 June 2017
