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.
Searchlight Capital Partners will invest $75 million in General Communication Inc. in the form of an unsecured note. Eric Zinterhofer, co-founder and partner in Searchlight, is also joining GCI’s board. Anchorage-based GCI is a telecommunications provider that offers wireless, voice, data, and video services statewide.
3 min read · 05 December 2014
KKR said late Thursday it acquired a significant minority stake in Arbor Pharmaceuticals. Financial terms weren’t announced. Atlanta-based Arbor is specialty pharmaceutical company currently focused on the cardiovascular, hospital, and pediatric markets. KKR’s investment is coming from its North America XI private equity fund. Lazard Middle Market advised Arbor.
3 min read · 05 December 2014
Delia's said Friday that it expects to file for Chapter 11 bankruptcy protection in the near future. The retailer for teenaged girls has entered into an agency agreement with Hilco Merchant Resources and Gordon Brothers Retail Partners to liquidate all merchandise owned by the company and to dispose of certain furnishings, trade fixtures, equipment and improvements to real property.
2 min read · 05 December 2014
H.I.G. Capital said Friday it completed the buy of portfolio of 122 predominantly grocery store-anchored retail assets in Finland. The purchase price was more than €100 million (US$123.6 million).
2 min read · 05 December 2014
Onex Corp. said this week that it increased its commitment to Onex Partners IV to $1.7 billion from $1.2 billion. The size of Onex Partners IV is $5.66 billion, up from $5.15 billion, with Onex as the largest investor.
2 min read · 05 December 2014
A group of investors led by F.N.B. Capital Partners has acquired Powertrack International. Financial terms weren’t announced. Pittsburgh-based Powertrack is a wholesale distributor of industrial and hydraulic hose and fittings products. First National Bank of Pennsylvania provided the senior financing.
3 min read · 05 December 2014
The European Senior Secured Loan Programme, a joint venture between Ares Management and GE Capital, has provided a £187 million (US$293 million) loan to fund Montagu Private Equity’s buy of Open GI. Montagu announced in August it was buying Open GI, a U.K.-based supplier of software to the insurance market.
3 min read · 05 December 2014
In Second Opinion, the Chinese economy is now the largest in the world, Lyft promotes Brian Roberts to CFO, RadioShack will discontinue matching for 401(k) and 1165(e) plans and rivate equity has reportedly bought Ektron.
1 min read · 04 December 2014
Prong Inc said Thursday it closed a $1.6 million Series A financing led by Georgia Oak Partners. New York-based Prong provides the PocketPlug, a mobile phone case with integrated A/C charging plugs.
2 min read · 04 December 2014
American Capital said Thursday it has invested $31.5 million loan to support Snow Phipps Group buy of Teasdale Foods. In October, Snow Phipps closed its buy of Teasdale, a maker of bean and hominy products.
3 min read · 04 December 2014
