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 Carlyle Group said Tuesday it has agreed to buy a majority stake of Conifer Financial Services LLC. Financial terms weren’t announced. Capital for Carlyle’s investment will come from Carlyle Global Financial Services Partners II LP. Conifer is an asset services firm and has more than $100 billion of combined assets under administration. Macquarie Capital and Freeman & Co. served as financial advisors to Conifer. Duff & Phelps Securities LLC advised Carlyle.
4 min read · 24 March 2015
Rsam said Tuesday it completed a $32 million strategic growth investment from JMI Equity. Secaucus, New Jersey-based Rsam provides Governance, Risk, and Compliance solutions. Signal Hill acted as financial advisor to Rsam.
2 min read · 24 March 2015
AxleTech International said Tuesday that Bill Gryzenia was named CEO effective today. Gryzenia was previously VP and General Manager of Dana Holding Corp.’s on-highway and off-highway aftermarket business. The Carlyle Group acquired AxleTech, an engineering and manufacturing company for off-highway and specialty vehicle drivetrain systems and components, in January.
3 min read · 24 March 2015
Rigontec GmbH said Tuesday it raised 4.8 million Euros (about US$5.3 mln) in a second closing of a series A round from Forbion Capital Partners and Sunstone Capital. Rigontec said total Series A funding was 14.25 million Euros (US$15.7 mln). Bonn, Germany-based Rigontech is a biopharmaceutical company developing RNA-based immunotherapeutics for the treatment of cancer and viral diseases.
5 min read · 24 March 2015
GenNx360 Capital Partners L.P. said Monday that it promoted Bobby Bryan to CEO of Schramm Inc., a portfolio company. Bryan was formerly acting CEO. Schramm makes and supplies mobile, top-head hydraulic rotary drilling rigs focusing on land-based applications in the mining, energy, geothermal and water sectors.
3 min read · 24 March 2015
American Securities has recapitalized Aspen Dental. Leonard Green & Partners is the seller. Financial terms weren’t announced. Green acquired Aspen Dental in 2010. Aspen provides non-clinical business support services to dental practices in approximately 30 states.
4 min read · 24 March 2015
Universal Hospital Services Inc. said Monday that Thomas J. Leonard was named CEO and a member of the board effective April 13. Leonard most recently served as the President of Medical Systems for CareFusion Corp. Universal Hospital is a portfolio company of Irving Place Capital.
3 min read · 24 March 2015
OpenGate Capital said Tuesday it completed the sale of Kotkamills Oy to MB Funds. Financial terms weren’t announced. Kotkamills, of Kotka, Finland, makes specialty papers and wood-based products.
2 min read · 24 March 2015
Private equity made a strong showing in the IPO market during the past two years, according to a study from law firm Proskauer Rose LLP.
2 min read · 24 March 2015
Tim Gardner has joined Weil, Gotshal & Manges LLP’s Hong Kong office as a partner. Gardner, 46, joins Weil from the Hong Kong office of Latham & Watkins LLP, where he was a partner.
3 min read · 23 March 2015
