Luisa Beltran

Swander Pace exits Applegate in $775 mln deal

Swander Pace Capital said Tuesday it sold its minority stake in Applegate to Hormel Foods Corp. in a deal valued at $775 million. Applegate founder Stephen McDonnell has also transferred his stake. Bridgewater, New Jersey-based Applegate produces natural and organic hot dogs, bacon, sausages, deli meats, cheese and frozen products.

Study: LPs worry about bribery more than hazardous waste

A study, co-sponsored by IAG and Thompson Taraz, found that North American investors are less bothered by investments in vices like gambling, alcohol or tobacco than their European counterparts.

Kantox raises $10.9 mln

Partech Ventures said Wednesday it co-led a 10 million Euro (US$10.9 mln) financing round for Kantox. IDinvest Partners also participated. London-based Kantox provides foreign exchange services for SMEs and mid-cap companies.

Study finds bribery is top LP concern, while social issues rank near bottom

Are North American investors less progressive than European LPs?

EMC to buy Virtustream for $1.2 bln

EMC Corp. said Tuesday it has agreed to buy Virtustream for $1.2 billion. The boards of both EMC and Virtustream have approved the deal. Washington D.C.-based Virtustream provides cloud software and services to enterprise customers. Virtustream has raised funding from investors including SAP, Intel Capital, Noro-Moseley Partners, TDFunds, Columbia Capital and Blue Lagoon Capital.

Hot Topic to buy Geeknet for $122 mln

Hot Topic Inc., a portfolio company of Sycamore Partners, said Tuesday it agreed to buy Geeknet Inc. for about $122 million or $17.50 a share. The deal includes $37 million of cash or cash equivalents. Fairfax, Virgina-based Geeknet is the parent of ThinkGeek and ThinkGeek Solutions, which distributes video game-themed merchandise like T-shirts and leggings through licensed web-stores for the gaming community. Guggenheim Securities advised Geeknet.

SparkLabs Global invests in Dating LATAM

SparkLabs Global Ventures said Tuesday it invested in Dating LATAM, an online dating startup founded in Lima, Peru. Financial terms weren’t announced.

Veritas Capital inks buy of StandardAero

Veritas Capital said Tuesday it agreed to buy StandardAero from Dubai Aerospace Enterprise Ltd. Financial terms weren’t announced. Scottsdale, Arizona-based Standard Aero provides aircraft maintenance, repair and overhaul services as well as extensive services and custom solutions for business aviation, commercial aviation, military and industrial power customers.

Trussbridge to focus on Middle East IB

Trussbridge Group said Tuesday it has launched Trussbridge Advisory Ltd., a financial services firm headquartered in the United Arab Emirates. Trussbridge will target the mid-market sector in the Middle East, offering independent investment banking advice and execution to regional corporates, investors and family businesses. Samer Katerji and Rody Yared will manage Trussbridge. Katerji previously led the Financial Institutions and Financial Sponsors advisory practice for Citigroup Global Markets Ltd. in the Middle East, while Yared was responsible for growing J.P.Morgan’s investment banking business in Abu Dhabi from 2010 to 2014.

Charter Communications nears $55 billion deal for Time Warner Cable: Reuters

Time Warner Cable Inc is nearing an agreement to be acquired by smaller peer Charter Communications Inc for about $55 billion, combining the second and third largest U.S. cable operators, sources told Reuters News.