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.
Every year, the signs are there: the phone stops ringing, my email grows empty and private equity executive become hard to find. This means we're heading into the long Memorial Day weekend.
2 min read · 24 May 2013
Clearlake Capital Group has acquired about 89% of Bluefly's outstanding shares directly from the company's principal stockholders. Clearlake also agreed to buy additional shares from Bluefly which, together with the stock it is buying from principal stockholders, represents more than 90% of the company's outstanding shares. Financial terms weren't announced. Bluefly expects to cease trading on the NASDAQ before the open today. Bluefly is an online retailer of designer brands.
3 min read · 24 May 2013
Ares Management said Friday that Charles Steel has joined the Ares Private Equity Group as a Managing Director and will be based in London. Steel previously worked at The Carlyle Group from 2001 to 2010 in European leveraged buyouts.
3 min read · 24 May 2013
This Friday morning, there's news that Google is in talks to buy Waze, German brewers don't like fracking and Anthony Weiner needs to get his skylines straight.
1 min read · 24 May 2013
Andreessen Horowitz is leading a $60 million Series C financing round for Lyft, according the company's blog. Lyft, of San Francisco, is a ride sharing app.
1 min read · 23 May 2013
Catamount Ventures said Thursday that it agreed to sell Plum Organics to Campbell Soup Co. Financial terms weren't announced. Earlier, Catterton Partners said it also agreed to sell its stake in Plum, a provider of organic baby food.
3 min read · 23 May 2013
Bluefly said Thursday that Clearlake Capital Group has bought about 89% of the retailer's outstanding shares directly from the company's principal shareholders. Clearlake also entered into an agreement with Bluefly under which it purchased additional shares, together with the stock acquired from Bluefly's principal stockholders, representing more than90% of outstanding shares. Clearlake is buying the outstanding shares through a short form merger at 10 cents a share. The private investment firm expects Bluefly's shares to cease trading on the NASDAQ before the open on March 24. Blue Fly, of New York City, is an online retailer.
3 min read · 23 May 2013
Catterton Partners said Thursday that it has agreed to sell Plum Organics to Campbell Soup Co. Financial terms weren't announced. Emeryville, Calif.-based Plum Organics provides organic baby foods.
3 min read · 23 May 2013
Benjamin Ling is joining Khosla Ventures. Ling is a former Google, Facebook and YouTube executive. Most recently Ling was chief operating officer at Badoo.
2 min read · 23 May 2013
Apax Partners has agreed to buy rue21 for $42 per share cash or about $1.1 billion. The deal represents a roughly 23% premium to rue21's closing price yesterday. The board of rue21 has approved the deal. Rue21 is a specialty apparel retailer of girls and guys apparel and accessories. The deal includes a 40 day go-shop where the rue21 special committee can actively solicit, evaluate and enter into negotiations with other parties offering a superior proposal. J.P. Morgan Securities LLC, BofA Merrill Lynch and Goldman Sachs are providing financial advice to Apax. Perella Weinberg Partners is the financial advisor to the special committee. BofA Merrill Lynch, J.P. Morgan and Goldman Sachs are providing debt financing.
9 min read · 23 May 2013
