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.
2 min read · 20 January 2016
3M has agreed to sell its Pressurized Polyurethane Foam Adhesives business (formerly known as Polyfoam) to Innovative Chemical Products Group, a portfolio company of Audax Private Equity. Financial terms weren’t announced. Pressurized Polyurethane Foam Adhesives business provides pressurized polyurethane foam adhesive formulations and systems to the residential roofing, commercial roofing and insulation and industrial foam segments of the United States.
3 min read · 20 January 2016
Fluid Delivery Solutions LLC, a portfolio company of Trilantic North America, has acquired Water Transfer LLC. Midland, Texas-based Water Transfer is a water transfer and equipment rental business focused on the Permian Basin.
2 min read · 20 January 2016
QASymphony said Wednesday that it raised $5 million in Series B funding led by Fulcrum Equity Partners. BIP Capital, an existing investor, also took part in the round. As part of the Series B, QAS has an option to take on an additional $3 million in capital if needed. Atlanta-based QASymphony provides enterprise-level agile testing tools.
3 min read · 20 January 2016
HgCapital has acquired a majority stake in Sovos Compliance. Financial terms weren’t announced. Vista Equity Partners was the seller. Wilmington, Massachusetts-based Sovos provides tax compliance software. Shea & Company acted as the exclusive financial advisor to Sovos/Vista.
2 min read · 20 January 2016
TierPoint LLC said Wednesday that it acquired Cosentry. Financial terms weren’t announced. TA Associates is the seller; they will become a significant investor in TierPoint. Other investors include RedBird Capital Partners, Cequel III, Ontario Teachers’ Pension Plan, Stephens Group, JZ Advisers and Thompson Street Capital Partners. Omaha-based Cosentry provides cloud, colocation and managed services.
3 min read · 20 January 2016
Dermatology and MedSpa Inc, a dermatology platform of Pharos Capital Group LLC, has acquired a controlling interest in Sona MedSpa. Financial terms weren’t announced. Carousel Capital Partners, Joe Pitt and Byron Ashbridge, were the sellers. Charlotte, North Carolina-based Sona MedSpa provides cosmetic dermatology and medspa services.
4 min read · 20 January 2016
Audax Private Equity said Tuesday it has combined California Products Corp and Nicoat to form Innovative Chemical Products Group (ICP). Doug Mattscheck was named President and CEO of ICP. He was previously CEO of Quest Specialty Chemicals. Andover, Massachusetts-based ICP is a specialty chemical company engaged in the formulation, manufacturing, and marketing of coatings and adhesives.
3 min read · 20 January 2016
Invoice Cloud, a portfolio company of Summit Partners, has acquired HealthPay24. Financial terms weren’t announced. Mechanicsburg, Pennsylvania-based HealthPay24 provides software for processing point-of-service and online payments for hospital and physician practice clients. Ziegler provided financial advice to HealthPay24.
3 min read · 20 January 2016
Rocsole Ltd said Tuesday it raised a new round of funding led by Repsol. Finnvera also invested. Rocsole did not disclose financial terms but said the funding amounts to “several million euro.” Rocsole, of Kuopia, Finland, provides tomography solutions for industrial process applications, such as oil and gas transportation.
3 min read · 20 January 2016
