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.
1 min read · 12 April 2016
Berkshire Partners has sold Tower Development Corp to Crown Castle International Corp for about $461 million cash. Tower Development develops wireless communications infrastructure in the U.S. and Puerto Rico. Ropes & Gray, led by Taylor Hart, advised Berkshire Partners.
1 min read · 12 April 2016
Data Device Corp, a portfolio company of Behrman Capital, has agreed to buy the Microelectronics Business of Maxwell Technologies Inc for $21 million. Maxwell’s Microelectronics Business develops and makes microelectronics solutions for satellites and spacecraft.
2 min read · 12 April 2016
Innovative Chemical Products (ICP) Group, a portfolio company of Audax Private Equity, has completed its buy of Fomo Products Inc. Financial terms weren’t announced. Norton, Ohio-based Fomo makes low pressure one- and two-component polyurethane foam sealants, adhesives, pour-in-place and spray foam in pressurized, disposable, and refillable packaging.
3 min read · 12 April 2016
AE Industrial Partners LLC said April 12 that its first fund closed at $680 million, surpassing its $600 million target. AE Industrials Partners Fund I LP invests in aerospace and related industry segments, including highly technical manufacturing, distribution and supply chain management, MRO (maintenance, repair and overhaul) and industrial service-based businesses. Eaton Partners, a Stifel Company, served as placement agent, and Gibson Dunn & Crutcher LLP served as legal advisor to AEI.
3 min read · 12 April 2016
Alibaba Group Holding Ltd said April 12 that it invested about $1 billion to buy a majority stake in Lazada Group S.A. Alibaba is buying of $500 million Lazada newly issued equity and buying the rest in Lazada stock. Lazada is an eCommerce platform in Southeast Asia. A put-call arrangement gives Alibaba the right to buy the rest of Lazada at a fair market value during the 12 to 18 month period after the closing of the transaction. Credit Suisse (Hong Kong) Ltd advised Alibaba while Goldman Sachs (Asia) LLC as exclusive financial advisor to Lazada.
4 min read · 12 April 2016
Foundry Innovation & Research 1 Ltd (Fire 1) said April 12 that it closed its Series B financing at $7.5 Existing investors including Lightstone Ventures and New Enterprise Associates, as well as Medtronic, participated in the round. Foundry also named Conor Hanley as its President and CEO. Dublin-based FIRE1 is a medical device company.
4 min read · 12 April 2016
Forbion Capital Partners said April 12 that its third main fund, Forbion Capital Fund III, closed at 183 million euros ($208 million). Investors of FCF III include the European Investment Fund (EIF), the Dutch Venture Initiative (DVI), Germany’s KfW development bank, various other regional investment agencies, pension funds, insurance companies, leading European family offices and two strategic investors: Charles River Laboratories and Knight Therapeutics. The fund will invest in private companies developing novel drugs, medical devices and diagnostics for high, or even unmet, medical needs.
4 min read · 12 April 2016
To start your morning, Alibaba makes a $1 billion investment into Lazada, PC shipments are down again, globally, and U.S. women soccer players may boycott the Olympics over the pay dispute.
1 min read · 12 April 2016
RFE Investment Partners said April 11 it acquired the Path to Purchase Institute. Financial terms weren’t announced. Chicago-based Path to Purchase is an association for omnichannel retailers, brands and solution providers along the path to purchase. Petsky Prunier LLC advised the Path to Purchase.
2 min read · 11 April 2016
