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.
Dynamic Precision Group, which is backed by The Carlyle Group, has agreed to buy eight aerospace component fabrication and machining facilities from Unison Engine Components, a subsidiary of GE Aviation. The deal is expected to close by the end of the year. Financial terms weren't disclosed. The eight plants, located on three sites in the U.S., Canada and the UK, design, make and integrate components and systems for aircraft engines and airframes. RBC Capital Markets and Deutsche Bank are providing financing.
3 min read · 05 September 2013
American Family Insurance has agreed to buy Homesite Group for $616 million. Sellers include Alleghany Corp., Metalmark Capital and The Plymouth Rock Co. Boston-based Homesite is a direct writer of homeowners, renters and condominium insurance. KPMG Corporate Finance provided financial advice to American Family. Lazard Frères & Co. acted as financial adviser to Homesite.
5 min read · 05 September 2013
Bregal Sagemount, the growth equity firm founded by former Goldman Sachs and Great Hill Partner executives, has clinched five deals since its launch in May 2012.
2 min read · 05 September 2013
Houston Ventures and Palmetto Partners have made a growth equity investment in Geoforce. Houston Ventures and Palmetto will have a minority stake. Coppell, Texas-based Geoforce provides asset tracking solutions for the oil and gas industry.
4 min read · 04 September 2013
Driveway Software has secured Round A funding led by IMI VC and Altair VC. Also joining in the funding are Kernel Capital and veteran Silicon Valley venture capitalist Peter Wolken. San Francisco-based Driveway Software provides smartphone-based telematics solutions for the auto insurance market.
2 min read · 04 September 2013
AeroMetric, which is backed by Arlington Capital Partners, has agreed to buy GMR Aerial Surveys and Watershed Sciences to create Quantum Spatial. Financial terms weren't announced. Quantum Spatial provides location-based tools, analytics and data focused on the North American market.
4 min read · 04 September 2013
Louisiana-Pacific Corp. has agreed to buy Ainsworth Lumber in a deal valued at roughly $1.1 billion. Brookfield Asset Management, which own 54% of Ainsworth, has agreed to vote in favor of the sale. Ainsworth, of Vancouver, British Columbia, makes and markets oriented strand board. Goldman, Sachs & Co. and BMO Capital Markets are providing financial advice to Louisiana-Pacific. RBC Capital Markets advised Ainsworth.
10 min read · 04 September 2013
ZeOmega closed a a $21.5 million growth equity financing led by Bregal Sagemount. Existing investors BlueCross BlueShield Venture Partners and Sandbox Industries participated in the round. TripleTree provided financial advice to ZeOmega. Frisco, Texas-based ZeOmega provides software solutions for population healthcare management.
3 min read · 04 September 2013
Silver Oak Services Partners said Wednesday it sold its stake in Physicians Endoscopy to Pamlico Capital. Financial terms weren't announced. Jamison, Pa.-based Physicians Endoscopy develops, owns and manages endoscopy centers in the United States.
2 min read · 04 September 2013
Gladstone Investment said Wednesday it sold its stake in Venyu Solutions to EATELCORP. Gladstone received $32.2 million in net cash proceeds that resulted in a realized gain of about $24.8 million. Gladstone also received full repayment of its debt investment of $19 million in principal repayment and $1.8 million in fee income. In 2010, Gladstone and Madison Park Capital acquired Venyu.
2 min read · 04 September 2013
