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.
The Atlanta Hawks said Wednesday that Tony Ressler, an Ares Management co-founder, is leading a group to buy the NBA basketball franchise. The group includes NBA All-Star Grant Hill, Clayton Dubilier & Rice partner Rick Schnall, Spanx founder Sara Blakely and Marquis Jet co-founder Jesse Itzler. Financial terms weren’t announced although press reports valued the deal at $850 million. The sale does include operation of the Philips Arena but still needs approval by the NBA Board of Governors. Goldman, Sachs & Co. and Inner Circle Sports advised the sellers while Moelis & Co. advised the buyer.
2 min read · 23 April 2015
NCR Corp, the maker of automated teller machines, is looking at strategic options, although the sale of the entire company is unlikely, The Wall Street Journal reported on Wednesday.
1 min read · 23 April 2015
Simplilearn said Thursday it raised $15 million in Series C funding led by Mayfair. Existing investors Kalaari Capital and Helion Venture Partners also participated. San Francisco-based Simplilearn, a provider of certification courses to professionals, said it has raised $27 million in total capital.
3 min read · 23 April 2015
Swirl Networks said Thursday it raised $18 million in equity financing from Hearst Ventures, SoftBank Capital, Twitter Ventures and other strategic investors. Longworth Venture Partners also participated in the round. Boston-based Swirl is a provider of a proximity-based indoor mobile marketing platform. Swirl said it has raised $32 million in total funding to date.
3 min read · 23 April 2015
Authentic Brands Group LLC said Thursday it acquired fashion brand Jones New York a portfolio company of from Sycamore Partners. Financial terms weren’t announced. Authentic Brands is owned by Leonard Green & Partners. Jones New York, which does $1 billion in retail sales, is a brand known for providing clothes for working women. CORRECTION: Authentic Brands is buying the Jones New York brand and not the portfolio company from Sycamore. Jones New York is winding down operations this year and shutting its retail locations, a spokesman said. The story has been corrected.
3 min read · 23 April 2015
Infinio said Wednesday that Bob Skelley was named VP of global channel and will manage all channel and partner relationships for Infinio globally. Skelley previously served as Dell’s executive director of North American channel sales. Infinio investors include Bessemer Venture Partners, Highland Capital Partners, Lightspeed Venture Partners and Osage University Partners.
3 min read · 23 April 2015
ShockDoctor, a portfolio company of Bregal Partners, has closed its merge with McDavid. Financial terms weren’t announced. Chicago-based McDavid makes, designs and markets sports medicine, sports protection and performance apparel for active people and athletes. William Blair & Co. advised ShockDoctor while Imperial Capital advised McDavid.
4 min read · 23 April 2015
Antin Infrastructure Partners said Thursday it is increasing its stake in Central Area Transmission System. Antin Infrastructure is buying BP’s 36.22 percent share of CATS and will own 99 percent of the business. Financial terms weren't announced. Antin Infrastructure previously acquired 62.78 percent in July. The CATS system transports gas through 404km of pipeline between the Central North Sea area and Teesside in the UK.
3 min read · 23 April 2015
Stone Point Capital is selling RegEd, an affiliate of portfolio company StoneRiver Group, three sources said.
2 min read · 23 April 2015
Stone Point Capital is selling RegEd, an affiliate of portfolio company StoneRiver Group, three sources said.
2 min read · 22 April 2015
