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.
Axeda Corp. said Tuesday it closed $12 million in growth funding led by JMI Equity. Other investors include Wipro and Mitsui & Co. Axeda also said that it appointed Todd DeSisto as its president and CEO. Foxboro, Mass.-based Axeda provides cloud-based service and software for managing connected products and machines.
4 min read · 20 August 2013
TSG Consumer Partners said Tuesday that Diane Miles and Rob Leibowitz were named operating partners. Miles is an operating partner for beauty and willl advise on beauty and personal care brands withing TSG's portfolio. She was most recently CEO of Perricone MD, a TSG investment. Leibowitz, who serves as CEO of Raybern Foods, is an operating partner for food and pet care brands within TSG's portfolio. Previously, Leibowitz was General Manager of Del Monte Foods' $2 billion Pet Products Division.
2 min read · 20 August 2013
MYCOM Group, which is backed by Clearlake Capital, announced several executive changes to its Advanced Engineering Services and Software divisions. Alfred Binford was appointed President and CEO of the Advanced Engineering Services division, while Richard Blanc was named COO and David Winters to CFO. Also, Dr. Payam Taaghol was promoted to president of its software division.
5 min read · 20 August 2013
Violle, along with NewSpring Capital, has acquired a majority stake in Utilipath. Financial terms weren't announced. Mooresville, N.C.-based provides network solutions for service provider and enterprise networks.
2 min read · 20 August 2013
Two portfolio companies of Waud Capital Partners -- Adreima and Optimum Outcomes -- have merged. Adreima provides clinically-integrated revenue cycle services while Optimum offers patient-focused account resolution services. The combined company will retain the Adreima name. BMO, Regions Bank, Capital One Bank and Bregal Sagemount provided debt financing.
3 min read · 20 August 2013
Harrison Gypsum, which is backed by H.I.G. Capital has acquired the assets of Pinnacle Material's Eagle Ford division. financial terms weren't announced. Diley, Texas-based Eagle Ford produces aggregate material used to build and maintain roads and well pads in the oil-rich Eagle Ford Shale region. Eagle Ford will do business as ACG Materials.
3 min read · 20 August 2013
KKR has agreed to acquire a minority stake in RigNet from Cubera. KKR, once its closes its buy of 4.75 million shares, will become RigNet’s largest shareholder, holding a 27% stake in the company. Houston-based Rignet provides managed remote communications solutions, systems integration and collaborative applications to the global upstream energy sector.
4 min read · 20 August 2013
Ambiq Micro has closed a $10M Series B funding round led by Austin Ventures. Existing investors including ARM®, Mercury Fund, Huron River Ventures and other investors also participated. Austin-based Ambiq provides ultra-low power integrated circuits.
3 min read · 20 August 2013
Gregg Parise has joined BUMP Network as President and CFO. Parise has spent the last 12 years as the founder and portfolio manager of various Long/Short equity Hedge Funds, including LINC Asset Management, Calimar Capital and Dorado Capital Management. Parise will report directly to Mitch Thrower, the CEO and Chairman of BUMP.
3 min read · 20 August 2013
The Carlyle Group said Tuesday that Matthew J. O’Connor was named an MD in the firm's power investing team. O’Connor joins Bob Mancini as co-head of the team. O’Connor spent 14 years at GE where he held a variety of positions, including nearly seven years with GE Energy Financial Services where he was named EVP, Financing Operations of GE Capital Aviation Services, in May. O'Connor joins Carlyle in September and will work out of the Washington DC and New York offices.
3 min read · 20 August 2013
