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.
3i Group plc said Thursday it sold its stake in TouchTunes to Searchlight Capital. 3i said it would receive 38 million pounds (US$57 million) in proceeds. New York-based TouchTunes is a digital jukebox maker. With the sale, 3i said the deal represents an IRR of 22 percent and a 2.1x money multiple on its original investment of 24 million pounds ($40 million).
2 min read · 02 April 2015
Via said Thursday it closed a $27 Series B round led by Pitango Venture Capital. Also participating were Hearst Ventures, a unit of Hearst Corporation; Ervington Investments, representing Russian businessman Roman Abramovich; and prior investor 83North (formerly Greylock IL) who led Via’s Series A financing. Via said it raised a total of $37 million. New York-based Via is an on-demand transit company.
5 min read · 02 April 2015
XL Group plc said late Wednesday it created XL Innovate, a venture capital fund led by Tom Hutton. XL Group will back the new fund that will invest in companies developing new capabilities in the insurance space. Hutton was most recently CEO and founder of New Energy Risk Inc.
4 min read · 02 April 2015
Richard Maroun Esq. has joined Frazier Healthcare as an Operating Executive on the Growth Buyout team. Most recently, Maround was Senior VP and General Counsel of Aptalis Pharma.
3 min read · 02 April 2015
Trivest Partners LP said Wednesday it sold AM Conservation Group Inc. to Kohlberg & Company. Kohlberg announced the acquisition on March 27. AM Conservation is a provider of energy and water efficiency products. Pipper Jaffray advised AM Conservation.
2 min read · 02 April 2015
Arcus Hunting LLC, a Bregal Partners company, has closed its buy of Obsession Archery Inc. The sellers are Dennis and Angela Lewis, Obsession’s founders, who will continue to lead the company. Jeffersonville, Georgia-based Obsession Archery designs and makes premium bows.
3 min read · 02 April 2015
Summit Partners has acquired a majority stake in DentalPro. Financial terms weren’t announced. Existing DentalPro shareholder, VAM Investments reinvested in the transaction, as did CEO and Founder Michel Cohen. Milan, Italy-based DentalPro owns and operates 30 full-service clinics across Italy, most of which are located in shopping malls.
4 min read · 02 April 2015
EIS Inc., a subsidiary of Genuine Parts Co., has acquired Connect-Air International Inc. from Wincove Capital. Financial terms weren’t announced. Auburn, Washington-based Connect-Air distributes low-voltage wire and cable used in critical building applications, primarily HVAC (heating, ventilation and air-conditioning), security and fire alarm systems. BB&T Capital Markets provided financial advice to Connect-Air.
1 min read · 02 April 2015
Confie Seguros has acquired three East Coast insurance brokerages: Your Insurance Spot Inc. based in Kissimmee, Florida; Wise Insurance Agency Inc. of Columbia, South Carolina; and, Bronkie Agency Inc. of Williamsville, New York. Financial terms weren’t announced. Confie Seguros is a portfolio company of ABRY Partners.
2 min read · 01 April 2015
Marlin Equity Partners said Tuesday it acquired arcplan Holdings GmbH. Financial terms weren’t announced. London-based arcplan provides business intelligence and corporate performance management software. Marlin said arcplan will be merged with portfolio company, Longview Solutions.
2 min read · 01 April 2015
