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.
Shore Capital Partners said Oct. 4 that it sold ClearPath Diagnostics to Laboratory Corporation of America® Holdings. Financial terms weren’t announced. ClearPath provides laboratory diagnostic services in the Northeastern United States. Winston & Strawn LLP served as legal advisor to ClearPath.
3 min read · 04 October 2016
To start off your morning, New York AG orders the Trump Foundation to stop fundraising, the British Pound has slumped to a three-decade low and bees have been added to the U.S. endangered species list for the first time.
1 min read · 04 October 2016
Winnebago Industries Inc said Oct. 3 that it agreed to buy Grand Design Recreational Vehicle Company for about $500 million in cash and newly issued Winnebago shares. Grand Design is a portfolio company of Summit Partners. Grand Design makes towable recreation vehicles (RVs). J.P. Morgan has agreed to provide committed financing for the transaction. J.P. Morgan provided financial advice to Winnebago and Lindquist & Vennum LLP acted as legal counsel. Baird acted as financial advisor to Grand Design and Weil Gotshal & Manges LLP acted as legal counsel.
9 min read · 03 October 2016
Dios Rios Partners said Oct. 3 that it recapitalized Pro Em Party & Event Rentals. Financial terms weren’t announced. Phoenix-based Pro Em is an event management and rental company with three business units: event management, event rentals and commercial services. Brady Castro was named President and CEO of Pro Em while Amir Glogau, formerly CEO, was named Chairman. Quarton International provided financial advice to Pro Em.
4 min read · 03 October 2016
2 min read · 03 October 2016
Rover.com said Oct. 3 that it raised $40 million in Series E funding led by Foundry Group and Menlo Ventures. Madrona Venture Group also participated in the financing. Seattle-based Rover.com is a network of pet sitters and dog walkers.
1 min read · 03 October 2016
Aptos Inc, a portfolio company of Apax Partners, said Oct. 3 that it has acquired BT Expedite. Financial terms were not announced. The deal included a Clienteling application currently resold by Aptos in North America; a retail learning management system; the Mercatus merchandising platform; and an eCommerce platform, FrescaCommerce. Aptos also said it has hired Steve Towe as its European managing director.
4 min read · 03 October 2016
NBGI Private Equity has completed its spin-out from the National Bank of Greece and will be known as Stage Capital. Deutsche Bank Private Equity (DBPE) and Goldman Sachs Asset Management (GSAM) are backing the deal and have acquired 100 percent of National Bank of Greece’s interests in the funds under management for 288 million euros ($323.6 million) in consideration. DBPE and GSAM will be LPs in the funds managed by the firm, alongside members of the Stage Capital team.
3 min read · 03 October 2016
Carrick Therapeutics Ltd has raised $95 million in funding led by ARCH Venture Partners and Woodford Investment Management. Investors include Cambridge Enterprise, Evotec AG, Google Ventures, Lightstone Venture and Cambridge Innovation Capital. Carrick is a European oncology company.
2 min read · 03 October 2016
The Sterling Group has sold American Bath Group to Lone Star Funds, a source said. The deal, which closed Sept. 30, is estimated at $750 million, the person said. Savannah, Tennessee-based American Bath designs and makes fiberglass reinforced plastic, sheet molded compound and acrylic bathtubs and showers. Brands include Praxis, Bathcraft, Aquatic, Bootz and Clarion. The Sterling Group is making more than 4x its money with the deal, the source said. Executives for Sterling declined comment. Lone Star and American Bath couldn’t be reached for comment.
1 min read · 30 September 2016
