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.
American Combustion Acquisition LLC, a portfolio company of Blackstreet Capital Management, has sold American Combustion Industries Inc (ACI) to CEO Timothy Kirlin and select members of his management team. Brentwood, Maryland-based ACI is a mechanical engineering firm. Financial terms weren’t announced.
2 min read · 25 February 2016
Dynegy Inc and Energy Capital Partners said Thursday they have formed a joint venture to buy ENGIE’s United States fossil portfolio. The deal includes 8,731 megawatts of generation capacity located in ERCOT, PJM, and ISO-New England. The buyers are committing $1.185 billion in equity to the $3.3 billion deal, which includes $2.25 billion in committed debt facilities. Dynegy will own 65 percent of the joint venture, named Atlas Power, while Energy Capital will have 35 percent. Dynegy is investing approximately $770 million while Energy Capital is putting in $415 million.
7 min read · 25 February 2016
Industrial Opportunity Partners said Thursday that it closed the sale of portfolio company Roadtrek Motorhomes Inc to Erwin Hymer Group. Financial terms weren’t announced. Roadtrek, of Kitchener, Ontario, Canada, designs and makes Class B motorhomes. Piper Jaffray & Co advised Industrial Opportunity Partners, while McDermott Will & Emery provided legal representation.
3 min read · 25 February 2016
Warburg Pincus has agreed to make a line of equity investment of up to $500 million in RimRock Oil & Gas, a start-up oil and gas exploration and production company.
3 min read · 24 February 2016
PolyPid Ltd said Wednesday that it closed $22 million in private equity financing co-led by new investor Shavit Capital and current investor Aurum Ventures. Chaim Hurvitz, who will now head the Company's board of directors, also invested as well as other existing shareholder. PolyPid, of Petah Tikva, Israel, is a clinical-stage specialty pharmaceutical company.
3 min read · 24 February 2016
EnCap Flatrock Midstream has committed $350 million to Lucid Energy Group II LLC. Lucid II management also invested. Dallas-based Lucid Energy is a midstream provider with assets including more than 700 miles of pipeline, multiple compressor stations, 345 million cubic feet per day of gas processing capacity, nitrogen rejection facilities, condensate stabilization facilities and a crude oil gathering system.
3 min read · 24 February 2016
CVC Capital Partners said Wednesday that its tech-focused growth fund closed at $1 billion, exceeding its $750 million target. CVC Growth Partners invests in high-growth, middle-market companies in the software and technology-enabled business services sectors. The target equity investment size is $50 million to $200 million.
2 min read · 24 February 2016
HIG Capital said Wednesday it acquired a portfolio of compensation product offerings, including Salary.com, from IBM Corp. Financial terms weren’t announced. Wellesley, Massachusetts-based Salary.com provides information, software, and best practices for compensation professionals. Moorgate Partners and Stifel Nicolaus acted as financial advisors while Paul Hastings LLP was the attorney for HIG.
3 min read · 24 February 2016
iTV-3 LLC is buying the assets of iTV-3 Inc. Financial terms weren’t announced. Highland Ventures Ltd. is the seller. ITV-3 Inc is a fiber-to-the-premises system that serves Peoria, Champaign, Urbana and other communities in Central Illinois. CountryWide Broadband and Seaport Capital are investors of iTV-3 LLC. RBC Capital Markets advised iTV-3 Inc.
3 min read · 23 February 2016
Main Post Partners has made a strategic investment in EagleRider Inc. dba EagleRider. Financial terms weren’t announced. Hawthorne, California-based EagleRider is a motorcycle experience company providing motorcycle tours, rentals, sales and service.
3 min read · 23 February 2016
