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.
Prospect Partners has invested in Sportdecals Inc via a recapitalization. Financial terms weren't announced. The company will operate under the name of Sportdecals Sport and Spirit Products Inc. Spring Grove, Ill.-based Sportsdecals provides in-house design, screen printing, and embroidery services for sports apparel products such as team uniforms, practice jerseys, performance wear, and spirit wear.
3 min read · 30 July 2013
Summer Street Capital Partners has appointed Amy Standing its Chief Financial Officer. Summer Street's current CFO, Ron Fleissner, will begin his transition into retirement. Standing joined Summer Street in June 2013 from Discover Financial Services, where she worked in business development and was chief of staff.
2 min read · 29 July 2013
RoundTable Healthcare Partners said Monday it completed its buy of Santa Cruz Nutritionals from Levine Leichtman Capital Partners. Financial terms weren't announced. Santa Cruz Nutritionals, of Santa Cruz, Calif., makes gummy vitamin, mineral, supplements and other nutraceutical products. The senior credit facilities were led by GE Capital.
4 min read · 29 July 2013
Industrial Safety Technologies, a portfolio company of Battery Ventures, has agreed to buy the Oldham fixed-point gas detection business of Industrial Scientific Corp. Financial terms weren't announced. Oldham, of Arras, France, provides fixed system gas detection monitors and controllers.
5 min read · 29 July 2013
Encore Consumer Capital said Monday that Daniel Gross has rejoined the firm as a Vice President. Gross is responsible for deal origination and execution as well as portfolio company oversight. He was previously with Encore from 2008 until 2011 before attending the Stanford University Graduate School of Business.
2 min read · 29 July 2013
Hudson's Bay Co. has agreed to buy Saks for $16 a share or $2.9 billion. The board of each company has approved the transaction and the deal is expected to close by the end of the calendar year. The deal includes a 40-day "go-shop" period where Saks can solicit alternative offers. The Saks auction had drawn interest from PE with KKR reportedly wanting to merge Saks with Neiman-Marcus. BofA Merrill Lynch advised Hudson's Bay. RBC Capital Markets acted as an additional financial advisor on the transaction. Goldman Sachs, Morgan Stanley and Guggenheim Securities acted as financial advisors to Saks.
10 min read · 29 July 2013
Darwin Private Equity has completed the management buyout of Esendex in a deal valued at GBP11 million (US$16.9 million). Esendex, of the U.K., provides SMS services to businesses.
3 min read · 29 July 2013
Brentwood Associates has made a significant investment in Lazy Dog Restaurant & Bar. Financial terms weren't announced. Huntington Beach, Calif.-based Lazy Dog offers "family favorite" foods like burgers, pasta and soups with bold new flavors. Piper Jaffray & Co. advised Lazy Dog.
4 min read · 29 July 2013
BEST Funds has invested C$4 million (US$3.9 million0 into Intelligent Mechatronic Systems. Waterloo, Canada-based IMS provides telematics and infotainment technologies.
2 min read · 29 July 2013
JPMorgan Chase & Co. said Friday it is pursuing strategic alternatives for its physical commodities business, including its remaining holdings of commodities assets and its physical trading operations. JPMorgan said it will explore a "full range of options" including a sale, spin off or strategic partnership of its physical commodities business.
2 min read · 29 July 2013
