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.
Science Applications International Corp. said Sunday it has agreed to buy Scitor Corp. from Leonard Green & Partners for $790 milLion cash. SAIC’s board has approved the deal, which is expected to close in May. Reston, Virginia-based Scitor provides engineering, management consulting and information services to federal and commercial industries in the U.S. Citigroup Global Markets advised Scitor while Sagent Advisors provided financial advice to Leonard Green.
7 min read · 02 March 2015
Remy Durand has joined Frazier Healthcare as a senior associated. He will focus on investment identification, due diligence and deal closing. Most recently, Durand was a member of the investment team at GE Ventures and a management consultant in L.E.K. Consulting’s life science practice.
2 min read · 02 March 2015
Ford Financial Fund II LP said Monday that a subsidiary, EB Acquisition Company LLC, has extended the expiration date of its cash tender offer to buy up to 65 percent of Mechanics Bank's outstanding shares at $26.832 a share. The purchase price is reportedly $265 million. The tender offer is scheduled to expire at midnight, New York City time, on March 31. Walnut Creek, California-based Mechanics Bank is a community bank with $3.4 billion in assets as of Dec. 31.
3 min read · 02 March 2015
Waud Capital Partners has made a equity investment in PSI Services LLC. Financial terms weren’t announced. Burbank, California-based PSI provides testing services to corporations, Federal and State government agencies, professional associations and certifying bodies.
3 min read · 02 March 2015
Pioneer Corp. said Monday it completed a share repurchase agreement where KKR will own 85.05 percent of PDJ Holdings Co Ltd., the holding company for Pioneer DJ. Pioneer Corp. will have 14.95 percent. Financial terms weren't announced. Pioneer DJ, of Kawasaki, Japan, develops and markets equipment for DJs, including CD players, mixers, controllers, headphones and speakers.
4 min read · 02 March 2015
Patricia Grad has left Irving Place Capital after nearly five years, two sources said.
2 min read · 02 March 2015
Patricia Grad has left Irving Place Capital after nearly five years, two sources said.
1 min read · 02 March 2015
A year after investing in Vogue International, the Carlyle Group is getting paid.
2 min read · 27 February 2015
A year after investing in hair-care company Vogue International, the Carlyle Group is getting paid.
2 min read · 26 February 2015
Mondelez International said Wednesday it has sold Betabox to VaynerMedia. Financial terms weren’t announced. Betabox uses ecommerce retailers to distribute product samples to specific consumers. Betabox is a product of Mondelez’s mobile future initiative and Prehype.
3 min read · 26 February 2015
