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.
Sedgwick Claims Management Services said Wednesday that Kimberly George was named a senior VP, senior healthcare advisor. George will help improve Sedgwick's understanding of how health care reform affects its business models and product and service offerings. She will also serve as senior healthcare advisor to Stone Point Capital. Memphis-based Sedgwick, which provides claims and productivity management solutions, is backed by Stone Point and Hellman & Friedman.
3 min read · 28 August 2013
Audax Health has raised $20 million in Series B funding led by Navigy Holdings. Additional funds also came from current board member Jack Rowe, the former chairman and CEO of Aetna, and Dan Rose, VP of Partnerships at Facebook. Audax, which has offices in Washington D.C. and San Francisco, is a digital health company. Audax investors include Cigna, Cardinal Health and New Leaf Ventures.
2 min read · 28 August 2013
Francisco Partners has acquired a majority stake in Paymetric. Financial terms weren't announced. Paymetric, of Atlanta, provides SaaS-based enterprise security and integrated payment acceptance solutions. James Bunn, Steve Hufford, Kate Crespo, Leslie Ann Brooks and Erik Prochnow of Raymond James & Associates provided financial advice to Paymetric. Francisco did not use an outside financial advisor.
3 min read · 28 August 2013
Arsenal Capital Partners has acquired International Fiber Corp. from Swander Pace Capital. Financial terms weren't announced. North Tonawanda, N.Y.-based International Fiber supplies cellulose‐based insoluble fiber products for food and industrial applications. Sagent Advisors advised Arsenal.
4 min read · 28 August 2013
FTV Capital has led a $40 million growth equity investment for Credorax. Boston-based Credorax is an online payments processor.
3 min read · 28 August 2013
Action Environmental Group has acquired the New York and New Jersey hauling, transfer station and recycling assets of Interstate Waste Services. Financial terms weren't announced. Action Environmental is a portfolio company of Summer Street Capital Partners and Ironwood Capital Management. Comerica Bank's Environmental Services Department, through a syndicate which included Webster Bank, Union Bank, and CoBank, provided financing. Interstate Waste Services, of Basking Ridge, N.J., provides waste collection, recycling and disposal for the residential, industrial and commercial sectors.
2 min read · 28 August 2013
FS Investment Corp., a BDC that invests in debt securities of private companies, said it committed over $200 million in July. Deals include: a $30 million loan to CoSentry.net, which is backed by TA Associates; a $66.4 million loan to Tri-Northern Acquisition, which is a portfolio company of the Audax Group; and, $6.1 million in debt and equity to VPG Group Holdings, which is a portfolio company of Insight Equity Holdings. FSIC is an investment fund sponsored by Franklin Square Capital Partners.
4 min read · 28 August 2013
AssuredPartners, which is backed by GTCR, has acquired Golseth & Gregson Insurance Services which does business as GBP Risk Solutions. Financial terms weren't announced. Tucson, Ariz.-based GBP Risk Solutions, an insurance agency, offers large commercial insurance, personal commercial insurance as well as group employee benefits.
2 min read · 27 August 2013
MartiniMedia has secured $14 million in financing led by long-term investors Venrock, Granite Ventures, Reed Elsevier Ventures and Silicon Valley Bank. Fort Mill, S.C.-based Martini is a media and advertising company.
2 min read · 27 August 2013
Kohlberg & Co. has acquired Nellson Nutraceutical.Financial terms weren't announced. Irwindale, Calif.-based Nellson develops and makes nutritional bars and functional powders. Jay Novak and Timothy Larsen of Houlihan Lokey provided financial advice to Nellson.
2 min read · 27 August 2013
