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.
Energy Transfer Partners LP and Sunoco Logistics Partners LP said Aug 2 that they have agreed to sell 36.75 percent of the Bakken Pipeline Project to MarEn Bakken Company LLC for $2 billion cash. Energy Transfer will receive $1.2 billion while Sunoco will get $800 million. The transaction includes the Dakota Access pipeline and the Energy Transfer Crude Oil pipeline. MarEn Bakken is jointly owned by Enbridge Energy Partners LP and Marathon Petroleum Corp. Porter Hedges LLP acted as legal counsel to ETP and SXL, and Credit Suisse Securities (USA) LLC acted as financial advisor.
4 min read · 03 August 2016
Cyprium Partners said Aug 3 that it made a “sponsorless mezzanine” investment in Bensussen Deutsch & Associates LLC. Financial terms weren’t announced. Woodinville, Washington-based Bensussen Deutsch provides promotional marketing services and customized branded merchandise to Fortune 1000 enterprises and major sports leagues. Cyprium, a private equity firm, makes non-control (minority ownership) investments.
3 min read · 03 August 2016
TA Associates said Aug 3 that Michael Libert and Lee Mooney have rejoined the firm as Vice Presidents based in Boston. Sarah Wang was also named a VP based in Menlo Park.
2 min read · 03 August 2016
All Integrated Solutions, a portfolio company of High Road Capital, has closed its buy of Great Lakes Fasteners Corp. Financial terms weren’t announced. Grand Rapids, Michigan-based Great Lakes distributes fasteners and industrial components as well as provides vendor-managed inventory (VMI) programs to original equipment manufacturers.
3 min read · 03 August 2016
2 min read · 02 August 2016
Macquarie Infrastructure Partners III has acquired a 42.5 percent stake in InSite Wireless Group LLC as part of an initial investment of approximately $280 million. Catalyst Investors and other minority investors were the sellers. InSite Wireless develops, owns, operates and manages communications wireless infrastructure facilities primarily for the wireless and broadcast industries. Evercore served as financial advisor to InSite while Lowenstein Sandler LLP and Sullivan and Worcester LLP provided legal counsel. Guggenheim Securities served as financial advisor to MIP III and White & Case LLP provided legal counsel.
4 min read · 02 August 2016
SK Capital Partners has completed the sale of Calabrian Corp to INEOS Enterprises, a subsidiary of INEOS Group. Financial terms weren’t announced. Kingwood, Texas-based Calabrian supplies sulfur dioxide and related derivatives that are used in wastewater treatment and other applications. KeyBanc Capital Markets provided financial advice while Morgan, Lewis & Bockius LLP served as legal counsel to Calabrian.
2 min read · 02 August 2016
Pritzker Group Private Capital has recapitalized PathGroup. Financial terms weren’t announced. Vesey Street Capital Partners and PathGroup management also invested. Primus Capital was one of the sellers. Brentwood, Tennessee-based PathGroup provides anatomic, clinical and molecular pathology services, as well as women’s health services. MTS Health Partners served as financial advisor to PathGroup.
3 min read · 02 August 2016
Cirtec Medical LLC, a Century Park Capital Partners, has acquired Stellar Technologies Inc. Brooklyn Park, Minnesota-based Stellar provides precision machining, component manufacturing, and assembly services for medical devices, including neuromodulation lead wire assemblies, mechanical assemblies, delivery systems, and electro-mechanical medical devices.
3 min read · 02 August 2016
Blue Harvest Fisheries LLC, backed by Bregal Partners, has acquired Hygrade Ocean Products Inc. Financial terms weren’t announced. New Bedford, Massachusetts-based Hygrade processes and distributes scallops, cod, and other premium fish products. Dechert LLP served as the legal advisor to Blue Harvest, while Guggenheim Corporate Funding LLC arranged senior financing for the acquisition.
3 min read · 02 August 2016
