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.
Hastings Equity Partners said Monday it acquired Cactus Fuel LLC. Financial terms weren’t announced. Midland, Texas-based Cactus Fuel distributes fuel and lubricants to upstream and midstream customers throughout the Permian Basin. PNC Financial Services provided financing. Riveron Consulting and Locke Lord LLP advised Hastings. Gulfstar Group advised the shareholders of Cactus Fuel.
2 min read · 28 March 2016
Digitech Venture Capital Fund Inc has invested in SmartHome Hero. Financial terms weren’t announced. Austin-based SmartHome Hero provides a home resource management platform that offers warranty management and repair service for homeowners.
2 min read · 28 March 2016
Mercer Advisors has agreed to merge with Kanaly Trust. Financial terms weren’t announced. The combined company, an independent wealth manager, will manage assets exceeding $8 billion. Mercer is backed by Genstar Capital while Kanaly Trust is owned by Lovell Minnick Partners, which will retain a stake in the combined company. David H. Barton, CEO of Mercer Advisors, will lead the combined company. Moelis & Company LLC advised Kanaly while Davis Graham & Stubbs LLP was their legal counsel. Willkie Farr & Gallagher LLP served as legal counsel to Mercer Advisors.
4 min read · 28 March 2016
Bromium Inc has raised $40 million in funding. The investment round was led by existing investors and also included Silver Lake Waterman. Cupertino, California-based Bromium, a provider of cybersecurity software, said total investment comes to $115 million. Prior investors include by Andreessen Horowitz, Ignition Partners, Highland Capital Partners, Intel Capital, Lightspeed Venture Partners and Meritech Capital Partners.
4 min read · 28 March 2016
Invo HealthCare Holdings, a portfolio company of Post Capital Partners, has acquired Progressus Therapy LLC. Financial terms weren’t announced. Tampa, Florida-based Progressus school-based therapy and early intervention services for school districts and communities.
2 min read · 28 March 2016
To start off your Monday, we have Spotifiy CEO confirming the digital music service has 30 million paid subscribers, Facebook apologizes for freaking people out with misdirected safety checks and a tombstone for Donald Trump mysteriously appeared in Central Park over the weekend.
1 min read · 28 March 2016
Goldman Sachs is investing $37 million in Venus Medtech (Hangzhou) Inc. Venus Medtech, of Hangzhou, China, is developing a transcatheter cardiac valve. Prior investors include Qiming Venture Partners, Sequoia Capital China and Dinova Venture Capital.
5 min read · 28 March 2016
Fleetpride, a portfolio company of TPG, has named Allan Dragone as its new President & CEO effective immediately. Dragone takes over for Donald Sturdivant, who will continue to serve on the Board through the transition process. Dragone is the former COO of GCA Services and former CEO of Unisource.
2 min read · 28 March 2016
JetBlue Technology Ventures, the VC subsidiary of JetBlue Airways, has invested in FLYR. Financial terms weren’t announced. San Francisco-based FLYR is a travel and data science company.
3 min read · 28 March 2016
Founders Fund said Friday its sixth fund closed at $1.3 billion. Founders Fund VI will be led by partners Lauren Gross, Ken Howery, Geoff Lewis, Scott Nolan, Luke Nosek, Brian Singerman and Peter Thiel.
1 min read · 28 March 2016
