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.
Sheridan Capital Partners said May 24 that it invested in Dermatologists of Central States (DOCS). Financial terms weren’t announced. Dermatologists of Central States, of Dayton, Ohio, is a dermatology practice management company. UPDATE: Twin Brook Capital Partners is providing $60 million in debt financing for the transaction, according to a tombstone of the deal. McGuireWoods LLP served as legal counsel to Sheridan Capital Partners. Leerink Partners served as financial advisor to DOCS.
3 min read · 24 May 2017
FIS said May 23 that it has agreed to sell a majority stake, 60 percent, of Capco to Clayton, Dubilier & Rice for $477 million. FIS will retain 40 percent. Capco provides business, digital and technology consulting services for the financial services industry. Russ Fradin, the former CEO of SunGard and current CD&R operating partner, will serve as chairman of Capco. Lance Levy will continue as Capco CEO. Barclays, Credit Suisse, BMO Capital Markets, HSBC Securities (USA) INC and HSBC Bank USA, National Association, and Natixis are providing financing.
5 min read · 23 May 2017
Funko LLC, which is backed by ACON Investments LLC, has agreed to buy Loungefly. Financial terms weren’t announced. Loungefly designs and sells handbags and fashion accessories under licensed brands that include Disney, Marvel, Star Wars, Sanrio, and Pokémon. Hogan Lovells US LLP is serving as legal counsel to Funko. Intrepid Investment Bankers LLC provided financial advice to Loungefly, while Greenberg Glusker Fields Claman & Machtinger LLP acted as legal counsel.
3 min read · 23 May 2017
TP Therapeutics Inc has raised $45 million in a Series C financing round co-led by Lilly Asia Ventures (LAV), OrbiMed Advisors LLC and S.R. One Ltd. The round was joined by existing investors Cormorant Asset Management and SV Tech Ventures. TP Therapeutics, of San Diego, is a clinical-stage biopharmaceutical company focused on addressing oncology drug resistance.
3 min read · 23 May 2017
CIVC Partners has closed its fifth fund with $400 million in capital commitments. CIVC Partners Fund V had a cover of $375 million and a hard cap of $400 million. CIVC Partners Fund V will invest in buyout and growth equity investments, predominantly within the business services and financial services sectors, in the lower middle market. Atlantic-Pacific Capital Inc served as placement agent.
3 min read · 23 May 2017
StaffConnect Group said May 23 that it has secured over $1 million in seed financing from Finance South East and a strategic list of angel investors. StaffConnect, of London and San Francisco, provides a mobile employee engagement platform.
3 min read · 23 May 2017
Long Game has raised $4 million in seed funding from Collaborative Fund and Thrive Capital, among others. Long Game, of San Francisco, is a personal finance app that encourages users to save money while winning prizes.
2 min read · 23 May 2017
Cairngorm Capital said May 23 that Neil McGill was named an investment director. McGill joins from BDO where he was head of the M&A advisory practice in Scotland.
3 min read · 23 May 2017
High Road Capital Partners has acquired Storage Battery Systems LLC. Financial terms weren’t announced. Supply Chain Equity Partners is the seller. Storage Battery, of Menomonee Falls, Wisconsin, assembles and distributes branded, rechargeable industrial battery solutions and test equipment for motive, stationary and standby power applications.
3 min read · 23 May 2017
2 min read · 22 May 2017
