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 Abraaj Group said Monday it closed its third dedicated Sub-Saharan Africa private equity fund at $990 million. Sixty four percent of the capital committed to Abraaj Africa Fund III came from European and North American investors. AAF III will target consumer goods and services, consumer finance, and resource and infrastructure services in the core geographies of Nigeria, Ghana, Côte d’Ivoire, South Africa and Kenya.
3 min read · 13 April 2015
OpenView Venture Partners said Monday that Jeff Hoffman has joined as a Senior advisor. Hoffman, who is on the faculty at Cornell University's Johnson School of Management, has consulted for numerous high-growth technology companies and regularly speaks to Fortune 500 audiences.
2 min read · 13 April 2015
Magency Digital said Friday that it raised 3 million Euros (US$3.7 million) in Series A funding led by Alliance Entreprendre and Sigma Gestion. Paris-based Magency Digital offers customized apps for the event and training industries.
3 min read · 13 April 2015
Laborie Medical Technologies has closed its buy of Medical Measurement Systems. Financial terms weren’t announced. Medical Measurement, of Enschede, The Netherlands, develops and distributes medical diagnostic systems for urodynamics, gastroenterology and neurology. Laborie is a portfolio company of Audax Private Equity.
2 min read · 13 April 2015
The sale of Trustwave Holdings is expected to be a boon for some investors, including angel investor Richard Kiphart and FTV Capital, sources said.
2 min read · 13 April 2015
It’s not your imagination. The first quarter was slow.
2 min read · 09 April 2015
The Abraaj Group and TPG have completed their investment in Kudu. Financial terms weren’t announced. Kudu is a Saudi Arabian fast-food chain.
3 min read · 09 April 2015
GlobalOutlook Inc. said Wednesday that Rajeev Vij was named CEO while Brett Coover joined as Chief Technology Officer effective immediately. Rajeev joins GlobalOutlook from Microsoft, where he spent six years as Director, Hosting Service Provider business at Microsoft India. Brett joins GlobalOutlook from Intellys where he was CTO. GlobalOutlook is a portfolio company of Naya Ventures.
4 min read · 09 April 2015
BlackHawk Industrial Distribution, a portfolio company of Brazos Private Equity Partners, has acquired Packaging Inc. and Pioneer Tool Supply. Financial terms weren’t announced. Agawam, Massachusetts –based Pioneer Tool Supply distributes metalworking and cutting tools to the New England marketplace. Packaging Inc., headquartered in Eden Prairie, Minnesota, provides packaging and fastening supplies.
3 min read · 09 April 2015
American Capital Ltd. said Wednesday it sold Mirion Technologies Inc. to Charterhouse Capital Partners LLP for $750 million. San Ramon, California-based Mirion provides radiation detection, measurement, analysis and monitoring products and services to the nuclear power, medical, military and homeland security markets. American Capital said it realized a 21 percent compounded annual return over the life of the investments, while the blended return on senior debt, subordinated debt and equity totaled a 17 percent compounded annual return.
3 min read · 09 April 2015
