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.
Fortune Brands Home & Security Inc. has agreed to buy Norcraft Companies Inc. in a deal valued at $600 million. Saunders, Karp & Megrue and Trimaran Capital Partners are selling their stake in Norcraft, which makes kitchen and bathroom cabinets, and went public in 2013. Norcraft may solicit alternative proposals in a 35-day go-shop. Eagan, Minnesota-based Norcraft announced the sale as part of its fourth quarter and full year financial results. Citigroup Global Markets Inc. provided financial advice to Norcraft.
10 min read · 30 March 2015
GTCR said Monday that it has agreed to sell Fundtech to DH Corp. for about $1.25 billion cash. The deal is expected to close in second quarter. New York-based Fundtech provides transaction banking software and services. Barclays and RBC Capital Markets LLC provided financial advised to Fundtech.
4 min read · 30 March 2015
Breitburn Energy Partners LP said Sunday that EIG Global Energy Partners has invested $1 billion. The deal includes $350 million of perpetual convertible preferred units and $650 million of senior secured notes. The offerings are expected to close on April 8. Breitburn is buys, develops and produces oil and gas properties throughout the United States. Jefferies LLC was lead placement agent and sole financial advisor to Breitburn while Credit Suisse was financial advisor to EIG.
7 min read · 30 March 2015
Global Infrastructure Partners said Friday that it has agreed to buy Competitive Power Ventures. Financial terms weren’t announced. Silver Spring, Maryland-based Competitive Power is a North American electric power generation development and asset management company.
2 min read · 30 March 2015
Palamon Capital Partners said Monday it named Mina Mutafchieva an Associate Principal. Mutafchieva was previously with McKinsey & Company where she was an Engagement Manager in the firm’s Antwerp office.
1 min read · 30 March 2015
Partners Group said Monday that it is selling Nobel Learning Communities Inc. Financial terms weren’t announced. The buyer was not announced. Westchester, Pennsylvania-based Nobl learning operates preschool through grade 12 private schools in the U.S. Partners Group said the sale is expected to produce an anticipated return on investment of approximately 4x cost.
2 min read · 30 March 2015
Beta-O2 said Monday that it has named Dr. Yuval Avni as its new CEO. Dr. Avni is a former partner at Giza VC. Beta-O2 also said that Sherpa Innoventures has invested in the company. Beta-O2, of Rosh Ha’ayin, Israel, is a biomedical company.
3 min read · 30 March 2015
Novan Therapeutics said Monday it raised $50 million in private financing. Malin Corp. was a new investor. Novan said existing private investors also participated. Durham, N.C.-based Novan is a clinical-stage biotechnology company focused on using nitric oxide therapies in dermatology.
4 min read · 30 March 2015
Platinum Equity has agreed to buy PrimeSource Building Products Inc. from Itochu Corp. said. Financial terms weren’t announced. Dallas-based PrimeSource is a North America buildings material distributor. J.P. Morgan served as exclusive financial advisor to Itochu.
2 min read · 30 March 2015
2 min read · 26 March 2015
