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.
Altria Group Inc confirmed Aug. 27 that it is in discussions with Philip Morris International Inc regarding an all-stock merger of equals. Philip Morris is a cigarette and tobacco manufacturing company with a $114.67 billion market cap. Altria produces and markets tobacco, cigarettes and related products; it has a $95.5 billion market cap. Philip Morris International was part of Altria Group until 2008 when it was spun out.
3 min read · 27 August 2019
Servelec Technologies, a subsidiary of Laurel Solutions, said Aug. 27 that it closed its buy of Primayer. Financial terms weren’t announced. Primayer develops and makes technologies for the effective monitoring of water networks and for reducing the loss of potable water. Laurel Solutions is backed by FFL Partners.
3 min read · 27 August 2019
Sentinel Capital Partners said Aug. 27 that it acquired SSJA Bariatric Management LLC. Financial terms weren’t announced. SSJA Bariatic, of Roslyn, New York, provides administrative services to 15 bariatric surgery offices in New York, New Jersey, and Connecticut that collectively operate as the New York Bariatric Group.
4 min read · 27 August 2019
Cole Haan, the shoemaker backed by Apax Partners, is preparing to go public, Bloomberg reported. Cole Haan is beginning discussions with investment banks, the story said.
1 min read · 27 August 2019
Lion Capital is putting sports nutrition company Grenade up for sale later this year, The Daily Telegraph reported. Lion Capital acquired Grenade two years ago when the company was valued at 72 million pounds ($88.2 million), the story said.
1 min read · 27 August 2019
Satori Capital said Aug. 26 that it increased its investment in Cicero Capital Partners LLC to $30 million from $20 million. Cicero Capital, of Columbia, Maryland, manages a portfolio of commercial mortgage-backed securities and other commercial real estate structured opportunities.c
3 min read · 27 August 2019
Next Coast Ventures said Aug. 27 that Brian Sharples, Cotter Cunningham and Julian Castelli are joining its Entrepreneurs Council. Sharples previously co-founded and served as chairman and CEO of HomeAway Inc. Cunningham founded and served as CEO of RetailMeNot Inc, while Castelli is chief financial officer of Voxpopme.
5 min read · 27 August 2019
First State Investments said Aug. 26 that it agreed to buy 100 percent of the equity of Patriot Rail and Ports. SteelRiver Infrastructure Partners was the seller. Patriot Rail, of Jacksonville, Florida, operates a portfolio of 12 short line freight railroads with more than 585 track miles across 14 states in the United States. The deal valued Patriot Rail at more than $750 million, Bloomberg reported.
3 min read · 27 August 2019
Sunbelt Supply, a portfolio company of Clearlake Capital Group LP, said Aug. 27 that it acquired Severe Service Specialists. Financial terms weren’t announced. Severe Service, of Trussville, Alabama, provides services and valves that are engineered to withstand severe applications.
3 min read · 27 August 2019
Ben Franklin Technology Partners has invested in ERApeutics. Financial terms weren’t announced. ERApeutics, of Lancaster, Pennsylvania, provides brain health supplements. The Ben Franklin investments will be used to develop and commercialize a walnut-based functional beverage, BrainMilk.
3 min read · 26 August 2019
