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.
Waterous Energy Fund said April 10 that it acquired 67 percent of Northern Blizzard Resources Inc for about $244 million through two separate purchase agreements. Riverstone Holdings LLC and NGP Energy Capital Management were the sellers. Northern Blizzard, of Calgary, Canada, is a crude oil production and development company.
4 min read · 11 April 2017
The Body Shop has attracted interest from a handful of private equity firms, according to the Financial Times. CVC, Carlyle, Advent and Bain Capital are among the buyout groups expected to place offers, the story said. L’Oréal, which owns the Body Shop, is hoping to receive as much as 1 billion euros ($1 billion) for the British skincare retailer, the FT said. Lazard is advising on the process; bids are expected Friday, the story said.
1 min read · 11 April 2017
3 min read · 10 April 2017
TSG Consumer Partners has acquired a 22 percent stake in BrewDog plc. The deal is worth 213 million pounds ($264 million), a statement said. Of the proceeds, 100 million pounds will be used for BrewDog’s continued expansion and the balance to create early shareholder equity, the statement said. The deal values BrewDog at 1 billion pounds. BrewDog, of Scotland, is a craft beer maker; brands include Elvis Juice, a grapefruit infused IPA, Dead Pony Club and its flagship Punk IPO, an India pale ale.
1 min read · 10 April 2017
Hhgregg Inc said April 7 that the United States Bankruptcy Court for the Southern District of Indiana approved the company’s initiation of the process to liquidate its assets commencing on April 8. Hhgregg, of Indianapolis, filed for Chapter 11 bankruptcy protection in March. Freeman Spogli invested in hhgregg, an appliance, electronics and furniture retailer, in 2005. The company is no longer listed as a current investment on the Freeman Spogli website.
3 min read · 10 April 2017
Aspen Skiing Company LLC and KSL Capital Partners LLC have agreed to buy Intrawest Resorts Holdings Inc for $23.75 a share or about $1.5 billion, including debt. Intrawest is a North American mountain resort and adventure company. Deutsche Bank Securities Inc, Moelis & Company LLC and Houlihan Lokey are financial advisors to Intrawest. Goldman, Sachs & Co is serving as financial advisor to Aspen and KSL and is acting as financial advisor to the new entity. Hogan Lovells US LLP, Latham and Watkins LLP and Simpson Thacher Bartlett LLP are legal counsel to Aspen and KSL. Skadden, Arps, Slate, Meagher & Flom LLP and Blake, Cassels & Graydon LLP provided legal counsel to Intrawest.
7 min read · 10 April 2017
ProAmpac, a portfolio company of Pritzker Group Private Capital, has acquired Trinity Packaging Corporation. Financial terms weren’t announced. Trinity, of Armonk, New York, is a flexible packaging company specializing in large format packaging for the lawn and garden, food and specialty industrial markets.
3 min read · 10 April 2017
2 min read · 07 April 2017
3 min read · 05 April 2017
Palladium Equity Partners has invested in Kar Nut Products Co. Financial terms weren’t announced. Kar Nut makes branded trail mix, marketed under the Kar’s and Second Nature brands. Deloitte Corporate Finance served as financial advisor to Kar’s on the transaction. Dawda Mann served as the company’s legal advisor. Kirkland & Ellis acted as the legal advisor for Palladium.
4 min read · 05 April 2017
