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.
Blackstone and Saudi Arabia agreed to launch a $40 billion investment vehicle to invest in infrastructure projects, mainly in the United States. The Public Investment Fund of Saudi Arabia has agreed to a $20 billion anchor commitment to the vehicle. Another $20 billion will be raised from other investors.
4 min read · 22 May 2017
HGGC LLC has agreed to buy Nutraceutical International Corp in a deal valued at about $446 million, including debt. Terms of the deal call for Nutraceutical stockholders to receive $41.80 in cash (without interest) for each outstanding share. The deal includes a 60-day "go-shop" period where Nutraceutical can actively solicit, evaluate and potentially enter into negotiations with alternative proposals. Nutraceutical, of Park City, Utah, makes, markets and distributes branded nutritional supplements and other natural products sold primarily to and through domestic health and natural food stores.
6 min read · 22 May 2017
Americold, backed by billionaire West Coast investor Ron Burkle, is exploring a sale or IPO, the Wall Street Journal reported. Americold, which owns temperature-controlled warehouses, could be valued at more than $3 billion, or even $4 billion, the story said. The company is working with bankers to sound out interested parties while also considering a listing. Americold is a real-estate investment trust owned by Yucaipa Cos; it shelved a prior IPO attempt in 2010.
1 min read · 22 May 2017
Partners Group has agreed to buy SPi Global. Financial terms weren’t announced. CVC Capital Partners is the seller. SPi, of Manila, provides outsourced services to education, science, technical and medical research publishers worldwide.
3 min read · 22 May 2017
Ardian has agreed to acquire a stake in LBC Tank Terminals from State Super and Sunsuper. Financial terms weren’t announced. LBC, of Belgium, operates bulk liquid storage facilities, predominantly for chemical & base oil products. Once the sale closes, Ardian will hold a 35 percent stake in LBC. Current shareholders APG and PGGM will retain 32.5 percent each.
3 min read · 22 May 2017
MortgageGym said May 22 that it raised 2 million pounds ($2.6 million) in seed funding. Investors include Gaby Salem, of Wharton Asset Management, China Pacific Capital and Trifecta Capital. MortgageGym, of London, is a regulated mortgage robo-adviser.
2 min read · 22 May 2017
EcoIntense GmbH said May 22 that it raised 22 million euros ($24.6 million) from One Peak Partners and Morgan Stanley Expansion Capital, the growth-focused private investment team within Morgan Stanley Investment Management. Financial terms weren’t announced. BBAF Business Angels Fondsgesellschaft and Wecken & Cie sold their stakes. EcoIntense, of Berlin, provides software for health and safety, environmental management and sustainability solutions. EcoIntense received legal advice from Gerhard Wacker (PwC Legal), while One Peak Partners and Morgan Stanley Expansion Capital worked with law firms Vogel Heerma Waitz and Cooley LLP.
5 min read · 22 May 2017
3 min read · 19 May 2017
Pfingsten Partners LLC said May 16 that it acquired Sign-Zone LLC. Financial terms weren’t announced. Sign-Zone, of Brooklyn Center, Minnesota, provides table covers, retractable banners, event tents, sail signs, floor displays and other displays. HarbourVest Partners co-invested in the deal. Paul Hastings served as legal advisor to Pfingsten. Quetico Partners LLC served as financial advisor to Sign-Zone.
2 min read · 18 May 2017
Silverfleet Capital has made four new hires. They include: Johan Boork, Jan Kux, Guntram Kieferle and Constance d’Avout.
2 min read · 18 May 2017
