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.
Siteworx LLC said Monday that President Ken Quaglio will be promoted to CEO, and Founder Tim McLaughlin will transition to Chairman of the Siteworx Board effective June 1. Siteworx, a digital agency, is backed by RLH Equity Partners.
3 min read · 19 May 2015
William Blair & Co. said Monday that added three financial advisors to their Boston office. This includes Barbara J. Cummings, Robert H. Kjellman and Carl J. (C.J.) Young, along with investment resource associate Karen Eames. The executives join Blair’s Private Wealth Management Group from Boston Private Wealth LLC.
3 min read · 19 May 2015
Wells Fargo Capital Finance, part of Wells Fargo & Co., said Monday it increased a loan to Ares Commercial Finance LP (ACF), which is managed by Ares Management LP, to $450 million from $150 million. ACF recently bought the asset-based lending portfolio of First Capital Holdings Inc. With the transaction, the Ares Commercial Finance platform will have about $700 million of loan commitments.
3 min read · 19 May 2015
TPG Capital, which is out fundraising, stands to make about 7.5x its money with the sale of Par Pharmaceutical Holdings Inc.
2 min read · 18 May 2015
Brookfield Asset Management Inc. agreed Monday to buy GrafTech International Ltd for $5.05 a share. The Wall Street Journal valued the deal at $692.8 million. Independence, Ohio-based GrafTech provides graphite material solutions for customers in sectors such as steel manufacturing, advanced energy applications and latest generation electronics. J.P. Morgan Securities LLC advised GrafTech.
8 min read · 18 May 2015
Lovell Minnick Partners said Monday it closed the sale of Mercer Advisors to Genstar Capital. Financial terms weren’t announced. Santa Barbara, California-based Mercer is a registered investment advisor that provides wealth management services to clients throughout the United States.
1 min read · 18 May 2015
Endo International said Monday it has agreed to buy Par Pharmaceutical Holdings Inc. from TPG Capital in a deal valued at $8.05 billion, including debt. The boards of Endo and Par have both approved the deal. The purchase includes about 18 million Endo shares and $6.5 billion cash to Par shareholders. Deutsche Bank and Barclays are providing financing. TPG acquired Par, a generic drug maker, in 2012 in a $1.9 billion deal. Barclays, Deutsche Bank, and Houlihan Lokey acted as financial advisors to Endo. JP Morgan acted as financial advisor to Par.
10 min read · 18 May 2015
EPIC Insurance Brokers and Consultants, a Carlyle Group portfolio company, said Monday they have acquired Executive Financial Inc. Financial terms weren’t announced. Los Angeles-based Executive Financial is an employee benefits consulting firm specializing in executive benefits, life, and disability insurance strategies.
2 min read · 18 May 2015
H.I.G. Capital said Monday it completed its buy of Grosvenor Shopping Centre, of Chester, U.K. The deal is valued at 65 million pounds (US$102 million).
2 min read · 18 May 2015
GIC and Canada Pension Plan Investment Board said Monday they have entered into a joint venture to buy acquire the D-Cube Retail Mall in Seoul, South Korea for $263 million. Daesung Industries is the seller. GIC and CPPIB will each own a 50 percent stake in the D-Cube Retail Mall.
3 min read · 18 May 2015
