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.
2 min read · 05 July 2016
Hostess Brands LLC said July 5 that it has entered into agreement with Gores Holdings Inc, a special purpose acquisition company sponsored by The Gores Group LLC, to go public. Hostess will have an anticipated initial enterprise value of approximately $2.3 billion. Apollo Global Management LLC, along with C. Dean Metropoulos and family, will own 42 percent of Gores Holding once the deal closes. Hostess Brands makes Hostess Twinkies, Ding Dongs® and CupCakes.
10 min read · 05 July 2016
Asset International, a portfolio company of Genstar Capital, said July 5 that it closed its buy of Market Metrics and Matrix Solutions. Financial terms weren’t announced. Market Metrics and Matrix Solutions are data and research firms for advisor-sold investments and insurance worldwide.
3 min read · 05 July 2016
WEX Inc said July 1 that it closed its buy of Electronic Funds Source LLC from Warburg Pincus. The deal was announced in October. Electronic Funds Source provides corporate payment solutions. WEX said it paid approximately $1.1 billion in cash and issued approximately 4.0 million shares of its common stock to Warburg. David Leinwand and Matt Salerno of Cleary Gottlieb represented Warburg.
4 min read · 05 July 2016
Palamon Capital Partners has agreed to sell Eneas Group to Norvestor Equity. Palamon said the sale will produce total proceeds of NOK 750 million (approximately €80 million or $89.2 million), representing a 3.3x return on invested capital. Eneas Group supplies corporate energy services to small and medium sized enterprises in the Nordic region.
3 min read · 05 July 2016
Marlin Equity Partners said July that it closed its buy of Teradata Marketing Applications business from Teradata Corp. Financial terms weren’t announced. Teradata Marketing provides marketing operations and marketing execution software solutions and services.
3 min read · 05 July 2016
Partners Group said July 5 that it was leading a consortium, including Caisse de dépôt et placement du Québec and CIC Capital Corporation, to buy Foncia. Bridgepoint and Eurazeo Partners Group are the sellers. Paris-based Fonica provides residential property management services.
4 min read · 05 July 2016
HQ Capital said July 5 that Auda Capital VII has closed at $375 million. The Auda Capital pool exceeded its original target of $350 million. The pool will seek to make primary and secondary investments in small and mid-sized companies in the U.S. and Europe.
3 min read · 05 July 2016
Transport Holdings LLC, a portfolio company of Revelstoke Capital Partners LLC, has completed its buy of Jones Motor Group Inc. Financial terms weren’t announced. Limerick, Pennsylvania-based Jones is a transportation and logistics company with a diversified freight profile that includes flatbed, heavy-haul, dry van, refrigerated, as well as LTL. Winston & Strawn LLP acted as legal advisor and The Clarendon Group II LLC acted as financial advisor to TII in the transactions. Drinker Biddle & Reath LLP acted as legal advisor to Jones.
3 min read · 05 July 2016
2 min read · 01 July 2016
