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.
BV Investment Partners said May 25 that it agreed to sell TriCore Solutions to Rackspace. Financial terms weren’t announced. Tricore, of Norwell, Massachusetts, provides enterprise applications, focused predominantly on enterprise resource planning, business intelligence and analytics, and data warehousing and integration. William Blair served as financial advisor to BV.
3 min read · 25 May 2017
Swander Pace Capital said May 24 that it sold Kicking Horse Coffee Ltd to Luigi Lavazza SpA. The transaction was valued at C$215 million ($160 million). Kicking Horse is an organic and fair trade coffee roaster. Elana Rosenfeld, who founded the Invermere, British Columbia-based organic coffee brand in 1996, will retain 20 percent, Reuters reported.
4 min read · 25 May 2017
Rentalutions said May 25 that it closed a $2 million funding round led by Cultivation Capital. Other investors in the round include M25 Group and Sandalphon Capital. Rentalutions, of Chicago, is an online platform that aims to streamline the rental process for landlords and tenants.
2 min read · 25 May 2017
J.C. Flowers & Co said May 25 that it has closed its buy of UK General Insurance Group Ltd. The deal was announced March 6. UK General, of Leeds, United Kingdom, provides a range personal lines of insurance products.
2 min read · 25 May 2017
Rackspace said May 24 that it named Joe Eazor its new CEO effective June 12th. Most recently, Eazor was CEO of EarthLink. Jeff Cotten, who has served as Rackspace’s interim CEO, will continue as president. Rackspace is a portfolio company of Apollo Global Management.
4 min read · 25 May 2017
American Eagle Outfitters is working with Cerberus Capital Management on a bid for Abercrombie & Fitch, the Wall Street Journal reported. Other buyout shops and clothing retailer Express Inc are still involved in the process, the WSJ said. The news caused Abercrombie’s shares to surge Wednesday.
1 min read · 25 May 2017
HGGC said May 24 that it has closed its buy of AIMC LLC and will merge it with portfolio company Integrity Marketing Group LLC. Financial terms weren’t announced. AIMC, of Atlanta, is a national developer and distributor of Medicare supplement products.
3 min read · 24 May 2017
SoftBank Group Corp has amassed a $4 billion stake in Nvidia Corp, Bloomberg is reporting. SoftBank disclosed it owned an unspecified amount of Nvidia stock. A holding of 4.9 percent, just under the amount that would require a regulatory disclosure in the U.S., would be worth about $4 billion, The story said. Nvidia, of Santa Clara, California, is a graphics chipmaker.
1 min read · 24 May 2017
Silver Lake has agreed to invest $400 million in Unity Technologies, Bloomberg reported. The deal values Unity, a gaming software maker, at $2.6 billion. Roughly half of the money will allow Unit employees and shareholders to cash out, the story said.
1 min read · 24 May 2017
Quiqup said May 24 that it raised a 20 million pound ($22.4 million) series B round led by JOBI Capital. Transmed and existing Quiqup investors also participated. Quiqup, of London, provides on-demand logistics services to consumers and retailers.
4 min read · 24 May 2017
