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.
Clearlake Capital Group said Jan. 3 that it agreed to buy Landesk from Thoma Bravo. Financial terms weren’t announced. Clearlake is combining Landesk with portfolio company, Heat Software, which will do business under new yet-to be-announced name. Landesk, of Salt Lake City, Utah, makes management software. Morgan Stanley Senior Funding Inc, Barclays, Jefferies, Golub Capital, Macquarie Capital, and Nomura are providing financing. Morgan Stanley, Evercore, Barclays, and Jefferies served as financial advisors to HEAT and Clearlake. UBS Investment Bank served as financial advisor to Thoma Bravo.
5 min read · 03 January 2017
2 min read · 22 December 2016
Berkshire Partners is investing in Kendra Scott Design Inc. Financial terms weren’t announced but Kendra Scott, the founder, will continue as majority shareholder and CEO. Norwest Venture Partners will also continue as a minority investor. Kendra Scott Design is a jewelry, home and beauty brand with more than 50 stores throughout the United States. Jefferies LLC provided financial advice to Kendra Scott Design, while Weil, Gotshal & Manges LLP and Kastner, Huggins, Reddien & Gravelle LLP served as legal counsel to the Company. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to Berkshire Partners.
3 min read · 22 December 2016
Warburg Pincus said Dec. 22 that it agreed to buy Gabriel Brothers Inc (Gabe’s). Financial terms weren’t announced. Alvarez & Marsal Capital, Gabe’s current majority owner, is exiting. Gabe’s, of Morgantown, West Virginia, is an off-price fashion and home retailer that operates 106 stores under the Gabe’s and Rugged Wearhouse banners across 11 states in the Mid-Atlantic and Southeast. UBS Investment Bank and Wells Fargo Securities acted as financial advisors to Warburg Pincus. Jefferies LLC acted as financial advisor to Alvarez & Marsal Capital.
3 min read · 22 December 2016
Partners Group said Dec. 22 that it has invested in Raven, along with Quanta Capital Solutions Inc and institutional investors. Financial terms weren’t announced but Partners Group is providing 50 percent equity, while Quanta and other investors are putting in the remainder. Raven is a midstream processing facility to be located in Baytown, Texas.
3 min read · 22 December 2016
Brentwood Associates said Dec. 20 that it has sold K-MAC Holdings Corp. Brentwood did not disclose financial terms of the deal nor the identity of the new owner. Brentwood, in partnership with Arlon Food and Agriculture Investment Program, invested in K-MAC in 2011. K-MAC, of Fort Smith, Arkansas, is a Taco Bell franchisee that also operates KFC and Golden Corral restaurants. North Point Advisors LLC and Houlihan Lokey Capital Inc acted as financial advisors, while Burr & Forman LLP acted as legal counsel to K-MAC.
4 min read · 21 December 2016
Alstom has agreed to buy Nomad Holdings, commercially known as Nomad Digital. The sellers include Amadeus Capital Partners, SEB Venture Capital and Deutsche Telekom Strategic Investments together with other investors. Financial terms weren’t announced. Nomad, of the U.K., provides passenger and fleet connectivity solutions to the rail industry.
4 min read · 21 December 2016
Quad-C Management said Dec. 21 that it closed its investment in Stanton Carpet Corp. Financial terms weren’t announced. Syosset, New York-based Stanton makes and imports carpets and custom rugs.
3 min read · 21 December 2016
Littlejohn & Co LLC said Dec. 19 that it has agreed to buy Brown Jordan International. Financial terms weren’t announced. St. Augustine, Florida-based Brown Jordan makes indoor and outdoor furniture. Goldman Sachs and Société Générale are providing debt financing. Moelis & Company served as financial advisor to Brown Jordan.
2 min read · 20 December 2016
EuroMena said Dec. 20 that it closed its third fund with $150 million in total consideration. First time investors include the International Finance Corporation (IFC), the German Investment and Development Corporation (DEG), and the UK’s Development Finance Institution (CDC Group). EuroMena said it extended the geographical focus of the third fund to include Sub-Saharan Africa.
5 min read · 20 December 2016
