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.
Hellman & Friedman has agreed to buy MultiPlan Inc. Financial terms weren’t announced although press reports pegged the deal at $7.5 billion. GIC, Singapore's Sovereign Wealth Fund, and Leonard Green & Partners are also investing in the deal. Starr Investment Holdings LLC and Partners Group, the sellers, will retain a minority. New York-based MultiPlan is a healthcare services provider. Barclays, Goldman, Sachs & Co. and Simpson Thacher & Bartlett are advising Hellman & Friedman. J.P. Morgan Securities LLC and Kirkland & Ellis LLP are advising MultiPlan and the seller.
4 min read · 06 May 2016
2 min read · 05 May 2016
Dave Hansen was named Chairman and interim CEO of the OnX companies, which include OnX Enterprise Solutions, OnX Managed Services and Momentum Digital Solutions. OnX is backed by Marlin Equity Partners. Hansen succeeds Michael Cox, who retired as OnX CEO at the end of April after three years. Hansen joined Marlin Operations Group, backed by Marlin Equity, as an Operating Executive in 2015.
3 min read · 05 May 2016
Maroon Group LLC, which is backed by CI Capital Partners, said May 4 that it acquired U.S. Chemicals. Financial terms weren’t announced. Darien, Connecticut-based U.S. Chemicals supplies specialty chemicals for the CASE (coatings, adhesives, sealants, elastomers), lubricants, plastics, and associated industries.
3 min read · 05 May 2016
Michelle Peluso has rejoined Technology Crossover Ventures as a venture partner in the firm’s New York office. Peluso is the former CEO of Gilt, which was sold to HBC in February of 2016.
3 min read · 05 May 2016
Michelle Peluso has rejoined Technology Crossover Ventures as a venture partner in the firm’s New York office. Peluso is the former CEO of Gilt, which was sold to HBC in February of 2016.
3 min read · 05 May 2016
Eonite Perception completed a $5.25 million seed round of equity funding from investors including Lightspeed Venture Partners, Signia Venture Partners, Presence Capital, The VR Fund, Rising Tide, CLI Ventures, Andy Bechtolsheim (co-founder of Sun Microsystems and current founder, Chief Development Officer and Chairman of Arista Networks), Amr Awadallah (Founder and CTO at Cloudera), Greg Castle, Greg Richardson, Nader Shenouda and others. Palo Alto, California-based Eonite is a 3D mapping and tracking company.
6 min read · 05 May 2016
Via said May 5 that it is raising $100 million in Series C funding led by Pitango Growth. Poalim Capital Markets and C4 Ventures also invested as well as venture capital firms, family offices, and strategic investors from North America, Europe, and Asia. Previous investors Ervington Investments (representing ı), Hearst Ventures, and 83North (formerly Greylock IL) also participated. Via is an on-demand transit company that provides an algorithm that matches, in real time, multiple passengers headed the same way with a single large SUV or van. UPDATE: Via said it closed on $70 million while $30 million from strategic investments will close in coming weeks.
4 min read · 05 May 2016
Via said May 5 that it is raising $100 million in Series C funding led by Pitango Growth. Poalim Capital Markets and C4 Ventures also invested as well as venture capital firms, family offices, and strategic investors from North America, Europe, and Asia. Previous investors Ervington Investments (representing ı), Hearst Ventures, and 83North (formerly Greylock IL) also participated. Via is an on-demand transit company that provides an algorithm that matches, in real time, multiple passengers headed the same way with a single large SUV or van. UPDATE: Via said it closed on $70 million while $30 million from strategic investments will close in coming weeks.
4 min read · 05 May 2016
Baring Private Equity has agreed to buy a 35 percent stake in Telus International. The deal values Telus at about $1 billion. Telus shareholders will retain 65 percent. Telus International provides customer service, IT, and business process services to industry leaders across the telecommunications, utilities, high tech, gaming, finance, retail, e-commerce, travel and logistics, and health care sectors. Rothschild advised Telus.
5 min read · 05 May 2016
