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.
Cosmo Tech said June 20 that it raised $3 million in follow-on funding led by Sofimac Partners. Also participating was new investor BNP Paribas and existing investor Aster Capital. Cosmo Tech, of Lyon, France and San Francisco, California, provides decision management solutions.
4 min read · 20 June 2017
Providence Equity Partners has sold its stake in Soccer United Marketing (SUM) back to SUM. Financial terms weren’t announced. Providence invested in SUM in 2012, reportedly paying $150 million for a 25 percent stake. Soccer United Marketing is the marketing arm of Major League Soccer.
3 min read · 19 June 2017
CCMP Capital Advisors LP and MSD Partners have agreed to buy Hayward Industries Inc. Financial terms weren’t announced. Alberta Investment Management Corp is also investing. Haywood, of Elizabeth, New Jersey, makes residential and commercial pool equipment and industrial flow control products. MSD manages the capital of Michael Dell and his family. Bank of America, Jefferies, Morgan Stanley, and Nomura are providing the financing.
5 min read · 19 June 2017
Falcon Group said June 19 that it secured $100 million in funding from KKR’s credit platform. Falcon Group provided financing for mid-cap companies, operating in the Middle East, Asia, and Europe, as well as Australia and New Zealand.
2 min read · 19 June 2017
Stevenswood Trade Centres Ltd, a portfolio company of Cairngorm Capital Partners LLP, has acquired Sameday Holdings Ltd. Financial terms weren’t announced. Sameday operates a network of seven counters in the west of England, distributing windows, doors and conservatory roofs to the installer market. Clydesdale and Yorkshire Bank Group provided working capital facilities. PwC provided financial and tax advice to Stevenswood and Cairngorm Capital, while Bond Dickinson acted as their attorney. Napthens provided legal advice to Sameday.
3 min read · 19 June 2017
1 min read · 16 June 2017
The Abraaj Group said June 15 that it has sold its stake in Careem to Kingdom Holding Co. Financial terms weren’t announced. Careem is a transportation and ride hailing businesses across the Middle East, North Africa, Turkey and Pakistan. Careem has also raised $150 million, part of a $500 million Series E announced in December, TechCrunch reported. The round values Careem at over $1 billion, the story said.
3 min read · 15 June 2017
H.I.G. Capital said June 15 that it has invested in Trace3 Inc. Financial terms weren’t announced. Trace3, of Irvine, California, provides digital transformation and IT solutions to medium- and large-sized enterprise clients. Trace3 was advised by Union Square Advisors and H.I.G. Capital was advised by William Blair on the financing.
4 min read · 15 June 2017
Highspot said June 15 that it closed a $15 million Series B round led by Shasta Ventures. Also participating were Salesforce Ventures and existing investor Madrona Venture Group. Highspot, of Seattle, is a sales enablement platform.
4 min read · 15 June 2017
Thoma Bravo LLC said June 14 that it has acquired Continuum. Financial terms weren’t announced. Summit Partners was the seller. Continuum, of Boston, is a global IT management platform for managed IT service providers. Goldman Sachs and Carlyle Group provided the debt financing. Lazard acted as financial advisor and Goodwin as legal counsel to Continuum. Kirkland & Ellis served as counsel for Thoma Bravo.
4 min read · 15 June 2017
