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.
Wealth Enhancement Group, a Lightyear Capital portfolio company, said July 18 that agreed to buy AEPG Wealth Strategies. Financial terms weren’t announced. AEPG, of Warren, New Jersey, is an RIA with more than $1 billion in combined client assets.
4 min read · 18 July 2019
Frontline Education said July 18 that it agreed to buy Perennial EdTech from Alpine Investors. Financial terms weren’t announced. Perennial EdTEch is a group of education software companies.
3 min read · 18 July 2019
AE Industrial Partners LP said July 18 that it agreed to buy Columbia Helicopters. Financial terms weren’t announced. Nancy Lematta, the majority owner, is retaining a stake. Columbia, of Aurora, Oregon, provides heavy-lift rotorcraft services with manufacturing and MRO capabilities.
3 min read · 18 July 2019
CVC Capital Partners said July 18 that it closed its latest strategic opportunities fund on 4.6 billion euros ($5.16 billion). The target for CVC Strategic Opportunities II was 4 billion euros ($4.48 billion). SO II invests in opportunities across Western Europe and North America which fall outside CVC’s traditional private equity strategies. CVC Strategic Opportunities I collected 3.9 billion euros.
2 min read · 18 July 2019
General Electric Co said July 17 that agreed to sell 80 percent of its solar energy business to BlackRock Real Assets. GE will own 20 percent of Distributed Solar Development, which focuses on solar and storage solutions for the commercial industrial and public sectors. Financial terms weren’t announced.
4 min read · 18 July 2019
Permira is in advanced talks with GHO Capital to buy Quotient Sciences, Bloomberg reported. The deal values Quotient, a drugmaker, at about 600 million pounds ($745 million), the story said.
1 min read · 18 July 2019
Bain Capital is near a deal to buy a minority of the combined Zelis Healthcare and RedCard, Bloomberg reported. Parthenon Capital is merging Zelis and Redcard, the story said. The deal would value the combined Zelis-RedCard at $6 billion, Bloomberg said.
1 min read · 18 July 2019
Kersia, an Ardian portfolio company, said July 18 that it acquired Choisy Laboratories. Financial terms weren’t announced. The Trudeau family and Champlain Financial Corp were the sellers. Choisy, of Canada, develops and makes chemical, biotechnological and biosecurity hygiene solutions.
3 min read · 18 July 2019
TravelPerk said July 18 that it raised an additional $60 million to bring its Series C round to $104 million. The Series C extension included participation from existing investors Kinnevik, partners of DST Global, Target Global, Felix Capital, Sunstone, and LocalGlobe. TravelPerk is a business travel platform.
4 min read · 18 July 2019
Fresh Direct Produce Ltd, a portfolio company of HKW, has acquired Emperor Specialty Foods. Financial terms weren’t announced. Emperor, of Richmond, British Columbia, distributes mushrooms, pears, and other specialty fruits and vegetables.
2 min read · 18 July 2019
