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.
Audax Private Equity said April 19 that it acquired acquire Impact Facility Services, LLC d/b/a Academy Fire Life Safety. Financial terms weren’t announced. Caltius Equity Partners was the seller. Academy, of Maspeth, New York and Long Beach, California, provides fire and life safety services to national, regional, and local customers across retail, hospitality, healthcare, industrial, and other end markets.
2 min read · 20 April 2017
GE said April 20 that closed its buy of LM Wind Power. In October, GE agreed to buy LM for for €1.5 billion ($1.65 billion). Doughty Hanson was the seller. LM is a Denmark-based technology developer and maker of rotor blades to the wind industry.
3 min read · 20 April 2017
REV Group has acquired Midwest Automotive Designs. Financial terms weren’t announced. Sellers include Petra Capital Partners, Merion Investment Partners and Pegasus Capital Group. Midwest Auto, of Elkhart, Indiana, is an “upfitter” of custom luxury vans and RVs.
2 min read · 20 April 2017
2 min read · 18 April 2017
PetSmart Inc said April 18 that it has agreed to buy Chewy Inc, an online pet retailer. Financial terms weren’t announced but Recode valued the deal at $3.35 billion. PetSmart was purchased in March 2015 by a consortium led by BC Partners and including La Caisse de dépôt et placement du Québec, StepStone and Longview Asset Management. Chewy, of Dania Beach, Florida, is backed by Volition Capital. Citi and Barclays provided financial advice to PetSmart, while Simpson Thacher & Bartlett LLP acted as its legal advisor. Citigroup Global Markets Inc and Barclays provided committed financing for the acquisition. Equity financing is being provided by PetSmart’s existing shareholders. Financial advisor to Chewy on this transaction was Allen & Company, with Weil, Gotshal & Manges LLP acting as its legal advisor.
5 min read · 18 April 2017
Henry L. Hillman, the Pittsburgh billionaire investor who provided startup funding for KKR & Co and Kleiner Perkins Caufield & Byers, has passed away at 98 years of age.
3 min read · 17 April 2017
The Riverside Co said April 17 that its completed fundraising for its first non-control investment fund. Riverside Strategic Capital Fund (RSCF) raised $418 million in total investable capital (including separately managed accounts), above its target of $350 million. Investors of RSCF include New Mexico Educational Retirement Board, Northwestern Mutual and Riverside Strategic Capital Fund RSCF makes non-control structured equity investments in companies with over $5 million of EBITDA. Riverside also said it promoted Jeffrey Gordon to partner and Jay Reynolds to principal.
3 min read · 17 April 2017
Flowhub has raised a $3.25 million Series A round led by Green Lion Partners and Phyto Partners. Flowhub, of Denver, is a software developer for the regulated cannabis industry.
3 min read · 17 April 2017
H.I.G. Capital said April 17 that it invested in two eyecare practices, Barnet Dulaney Perkins and Southwestern Eye Center. Financial terms weren’t announced. Barnet Dulaney Perkins, of Phoenix, and Southwestern Eye Center, of Mesa, Arizona, provide surgical and clinical ophthalmic care to patients in the Phoenix metro area and throughout Arizona. News of the deal was reported by Buyouts in February.
3 min read · 17 April 2017
Yext Inc’s IPO has priced at 10.5 million share at $11 each, above its expected $8 to $10 price range. Morgan Stanley, J.P. Morgan and RBC Capital Markets are acting as the bookrunners for the IPO. Yext is expected to trade April 13 on the NYSE under the ticker, “YEXT.”
2 min read · 13 April 2017
