Private Equity
Arcline Investment Management said Sept. 11 that it acquired a majority of Akron Biotechnology LLC. Financial terms weren’t announced. Akron Biotechnology supplies cGMP-compliant products and services for the production of advanced therapy medicinal products, including cell therapies, gene therapies and engineered tissues. BroadOak Capital Partners invested in Akron in 2017, PitchBook said.
3 min read · 11 September 2019
KKR said Sept. 11 that it closed its buy of a majority stake in Burning Glass Technologies. Providence Strategic Growth was the seller. Financial terms weren’t announced. Burning Glass Technologies is an analytics software company that provides labor market data.
6 min read · 11 September 2019
Pluang said Sept. 11 that it raised $3 million in Series A funding led by Go-Ventures. Pluang, of Indonesia, is a financial platform that aims to provide users with access to low cost savings products.
4 min read · 11 September 2019
Dutchie said Sept. 11 that it closed a $15 million Series A round led by Gron Ventures. Also participating were Snoop Dog’s Casa Verde Capital, Thirty Five Ventures, Shutterstock founder and CEO Jon Oringer, as well as DoorDash founders and early executives. Dutchie, of Bend, Oregon, provides an online ordering platform that helps consumers buy cannabis products from dispensaries for pickup or delivery.
3 min read · 11 September 2019
Hong Kong Exchanges and Clearing Ltd said Sept. 11 that it has made a proposal to the London Stock Exchange’s board to combine the two companies in a 31.6 billion pound ($39 billion) deal. HKEK said it plans to fund the offer with a mix of existing cash and new credit facilities. The offer, however, is contingent on the LSE abandoning its $27 billion offer for Refinitiv, the statement said. HKEK cautioned that its statement should not be construed as an announcement of a firm intention to make an offer. “There can be no certainty that an offer will be made. A further announcement will be made as and when appropriate,” the HKEK said.
1 min read · 11 September 2019
Landmark loses long-time partner Ian Charles; CapVest Partners weighs options for Curium Pharma; Aquila sues Vista-backed Solera
2 min read · 10 September 2019
Atlantic Street Capital said Sept. 10 that it invested in All Star Auto Lights via a majority recap. Financial terms weren’t announced. All Star Auto Lights is a specialty distributor of alternative automotive lighting parts.
2 min read · 10 September 2019
Martis Capital has completed a minority recap of Credible Behavioral Health Inc. Financial terms weren’t announced. With the deal, Goldman Sachs Merchant Banking Division has exited its investment in Credible. Based in Rockville, Maryland, Credible provides software for behavioral healthcare providers.
2 min read · 10 September 2019
Swander Pace Capital said Sept. 10 that it acquired Café Valley. Financial terms weren’t announced. Café Valley makes croissants, cakes, muffins, and other sweet baked goods for retail and foodservice channels across the United States and Canada.
3 min read · 10 September 2019
Stewart Information Services Corp said Sept. 10 that it has terminated its merger with Fidelity National Financial Inc after the FTC sought to block the transaction. Stewart’s board has decided that growing the company as a standalone entity will create the greatest shareholder value. As part of the termination, Fidelity has agreed to pay a $50 million reverse termination fee to Stewart. Frederick Eppinger will become CEO of Stewart, while Matthew Morris, who has served as CEO since 2011, will assume the role of president. Stewart is a real estate services company. Fidelity agreed to buy Stewart for $1.2 billion in 2018, according to press reports.
5 min read · 10 September 2019
